Riverstone Holdings Limited (SG:AP4)
SGX:AP4
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Riverstone Holdings
(SGX:AP4)
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Rating:74Outperform
Price Target:
S$0.76
▼(-16.00% Downside)
Action:UpgradedDate:02/27/26
The score is driven primarily by strong financial quality—especially the very conservative balance sheet—and healthy profitability/cash generation. Offsetting this is weaker technical momentum (below key moving averages with negative MACD). Valuation is supportive, helped by a very high dividend yield and a moderate P/E.
Positive Factors
Very conservative balance sheet
Near-zero debt materially lowers financial risk and preserves strategic optionality. A conservative capital structure supports stable dividend policy, enables opportunistic M&A or buybacks without refinancing pressure, and improves resilience through economic cycles over the next months.
Negative Factors
Recent revenue decline
A falling top line signals weakening demand or market share pressure, limiting organic growth and putting strain on medium-term revenue trajectory. If the trend persists, it reduces headroom for reinvestment and can pressure margins and returns over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Very conservative balance sheet
Near-zero debt materially lowers financial risk and preserves strategic optionality. A conservative capital structure supports stable dividend policy, enables opportunistic M&A or buybacks without refinancing pressure, and improves resilience through economic cycles over the next months.
Read all positive factors
Riverstone Holdings (AP4) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.16B
Dividend Yield8.7%
Average Volume (3M)4.77M
Price to Earnings (P/E)20.3
Beta (1Y)0.35
Revenue Growth4.74%
EPS Growth-17.18%
CountrySG
Employees3,000
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.01
Shares Outstanding1,484,904,000
10 Day Avg. Volume8,088,999
30 Day Avg. Volume4,774,049
Financial Highlights & Ratios
PEG Ratio-0.77
Price to Book (P/B)2.76
Price to Sales (P/S)4.24
P/FCF Ratio18.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$0.78Price Target Upside-13.33% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.14
Revenue Forecast (FY)S$1.05B
Riverstone Holdings Business Overview & Revenue Model
Company Description
Riverstone Holdings Limited, an investment holding company, manufactures and distributes cleanroom and healthcare gloves in Malaysia. The company offers cleanroom finger cots, static shielding and packaging bags, face masks, and wipers; and other ...
How the Company Makes Money
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Riverstone Holdings Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
92
Very Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 958.16M | 1.07B | 914.78M | 1.26B | 3.08B |
| Gross Profit | 287.54M | 390.09M | 295.51M | 450.32M | 1.91B |
| EBITDA | 308.24M | 423.63M | 339.81M | 479.91M | 1.91B |
| Net Income | 200.02M | 286.93M | 220.38M | 314.40M | 1.42B |
Balance Sheet | |||||
| Total Assets | 1.64B | 1.78B | 1.83B | 2.02B | 2.70B |
| Cash, Cash Equivalents and Short-Term Investments | 630.25M | 716.29M | 863.18M | 1.04B | 1.57B |
| Total Debt | 0.00 | 494.00K | 1.02M | 0.00 | 1.58M |
| Total Liabilities | 163.89M | 202.29M | 143.62M | 166.84M | 367.15M |
| Stockholders Equity | 1.48B | 1.58B | 1.68B | 1.85B | 2.33B |
Cash Flow | |||||
| Free Cash Flow | 214.24M | 227.16M | 197.36M | 282.63M | 1.41B |
| Operating Cash Flow | 294.87M | 306.99M | 249.07M | 416.04M | 1.57B |
| Investing Cash Flow | -78.14M | -79.61M | -51.46M | -133.15M | -155.91M |
| Financing Cash Flow | -285.83M | -363.62M | -415.53M | -801.95M | -451.19M |
Riverstone Holdings Technical Analysis
Positive
0.90
Price Trends
0.73
Positive
0.79
Negative
0.76
Positive
Market Momentum
>-0.01
Negative
68.18
Neutral
97.69
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:AP4, the sentiment is Positive. The current price of 0.9 is above the 20-day moving average (MA) of 0.71, above the 50-day MA of 0.73, and above the 200-day MA of 0.76, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 68.18 is Neutral, neither overbought nor oversold. The STOCH value of 97.69 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:AP4.
Riverstone Holdings Peers Comparison
UnderperformOutperform
Sector (51)
SG:AP4
Riverstone Holdings
0.79
-0.03
-3.68%
SG:BSL
Raffles Medical Group
1.02
0.09
9.44%
SG:A50
Thomson Medical Group Ltd.
0.06
0.02
38.10%
SG:1D4
Aoxin Q&M Dental Group Ltd.
0.21
0.16
388.10%
SG:505
Asiamedic Limited
0.03
0.02
136.36%
SG:5WA
OUE Lippo Healthcare Limited
0.03
<0.01
40.00%
Riverstone Holdings Corporate Events
Riverstone Shifts to Half-Yearly Financial Reporting on SGX
Feb 25, 2026
Riverstone Holdings will shift from voluntary quarterly financial reporting to a half-yearly schedule in line with Singapore Exchange rules, citing that semi-annual updates are sufficient to inform shareholders and potential investors about the gr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.