Comfortdelgro (C52) AI Stock Analysis

• Market Cap: S$3.36B
• Dividend Yield: 5.55%
• Average Volume (3M): 10.21M
• Price to Earnings (P/E): 14.6
• Beta (1Y): 0.62
• Revenue Growth: 15.63%
• EPS Growth: 12.07%
• Country: SG
• Employees: 22,693
• Sector: Industrials
• Sector Strength: 72
• Industry: Railroads
• EPS (TTM): 0.06
• Shares Outstanding: 2,167,448,000
• 10 Day Avg. Volume: 9,286,930
• 30 Day Avg. Volume: 10,214,983
• PEG Ratio: 1.06
• Price to Book (P/B): 1.24
• Price to Sales (P/S): 0.63
• P/FCF Ratio: -21.74
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.11
• Revenue Forecast (FY): S$5.16B

• Rating: 66 Neutral
• Price Target: S$1.50 ▼(-1.32% Downside)
• Action: Reiterated Date: 03/01/26
• Date: Action: Reiterated 03/01/26

The score is primarily held back by weaker cash flow quality and increased leverage (negative free cash flow in 2025 and materially higher debt-to-equity), despite solid operating recovery. Offsetting this, technicals are constructive with the stock trading above major moving averages and a positive MACD, and valuation is supported by a moderate P/E and a strong ~5.26% dividend yield.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand for services and effective market expansion, supporting long-term business sustainability.

Cash Flow Generation

Improved operating cash flow reflects the company's ability to generate cash from operations, enhancing financial flexibility and investment capacity.

Balance Sheet Health

A moderate debt-to-equity ratio suggests a balanced approach to financing, reducing financial risk and supporting long-term stability.

Negative Factors

Free Cash Flow Conversion

Limited free cash flow growth due to high capital expenditures may restrict the company's ability to invest in new opportunities or return capital to shareholders.

Gross Profit Margin

A declining gross profit margin could indicate rising costs or pricing pressures, potentially impacting long-term profitability if not addressed.

Cost Efficiencies

Challenges in maintaining cost efficiencies may affect profitability, necessitating strategic cost management to sustain competitive advantage.

Comfortdelgro Business Overview & Revenue Model

Company Description

ComfortDelGro Corporation Limited, an investment holding company, provides public transport services in Singapore. It operates through seven segments: Public Transport Services, Taxi, Automotive Engineering Services, Inspection and Testing Services, Driving Centre, Car Rental and Leasing, and Bus Station. The company offers bus and rail services to commuters; taxi and coach rental, and related advertisement services; non-emergency transport services to patients; vehicular maintenance and repair services; assembly of bus bodies; crash repair services; and engineering services, as well as sells diesel and petrol. It is also involved in the provision of motor vehicle inspection, non-vehicle testing, inspection, and consultancy services; construction of specialized vehicles; operation of taxi bureau, scheduled services, and driving schools; electric vehicle charging infrastructure activities; and renting and leasing of cars. In addition, the company offers public taxi and charter bus, management of taxi booking, building inspection, technology, and terminal services; and operates workshops for repairing, servicing, and general maintenance of motor vehicles. Further, it provides insurance broking, risk management, claims management, and related services; medical escort services; charge card facilities; and accident and other repair and maintenance services. As of March 30, 2022, the company operated a fleet of 35,000 buses, taxis, and rental vehicles. It also operates in the United Kingdom, Ireland, Australia, China, New Zealand, and Malaysia. ComfortDelGro Corporation Limited was incorporated in 2003 and is headquartered in Singapore.

How the Company Makes Money

ComfortDelGro generates revenue through multiple streams primarily centered around its transportation services. The taxi segment is a significant source of income, where the company earns through taxi operations, vehicle leasing, and service fees from drivers. The bus operations, which include public bus services and private bus contracts, also contribute to revenue through government subsidies and fare collections. The rail services, while a newer venture, further augment earnings through passenger fares. Additionally, ComfortDelGro benefits from partnerships with government bodies for public transport contracts, as well as collaborations with other service providers in the automotive sector, enhancing its revenue generation capabilities.

Comfortdelgro Financial Statement Overview

Summary

Income statement strength (revenue rebound and rising EBIT; Income Statement Score 74) is offset by higher financial risk from rising leverage (Balance Sheet Score 56; debt-to-equity up sharply into 2024–2025) and weaker cash quality (Cash Flow Score 42; 2025 free cash flow turned negative and operating cash flow declined).

Income Statement

Revenue has rebounded strongly since 2020, with growth accelerating into 2024–2025, and operating profit has expanded (EBIT rising from 2020 through 2025). Profitability is steady but not high: net margins have generally held around the mid‑4% range (improving materially vs. 2020). The key weakness is margin pressure at the gross profit line in 2024–2025 versus 2021–2023, suggesting higher costs or less favorable mix even as earnings grow.

Balance Sheet

The balance sheet shows a meaningful increase in leverage: debt-to-equity rose sharply from ~0.20–0.28 (2020–2023) to ~0.52 (2024) and ~0.76 (2025). Equity has been roughly flat over the period, so the higher debt load is the main driver, increasing financial risk and reducing flexibility. A positive offset is that assets have grown, but the pace of debt growth is the primary concern.

Cash Flow

Cash generation has weakened recently. Operating cash flow declined from 2024 to 2025, and free cash flow swung from positive in 2024 to negative in 2025, with a notable drop in free cash flow growth. While earlier years showed solid free cash flow relative to earnings, the latest year’s negative free cash flow and lower cash conversion indicate higher investment needs and/or working-capital pressure that could strain funding if sustained.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.78B	5.06B	4.48B	3.88B	3.78B	3.50B
Gross Profit	822.30M	952.50M	748.50M	859.20M	822.40M	819.00M
EBITDA	766.30M	871.00M	724.80M	665.70M	642.40M	582.20M
Net Income	221.20M	230.30M	210.50M	180.50M	173.10M	123.00M
Balance Sheet
Total Assets	5.92B	6.14B	5.73B	4.69B	4.70B	4.96B
Cash, Cash Equivalents and Short-Term Investments	873.10M	868.40M	892.40M	856.90M	967.00M	919.10M
Total Debt	1.69B	1.98B	1.35B	528.20M	503.10M	618.00M
Total Liabilities	2.89B	3.16B	2.70B	1.68B	1.70B	1.82B
Stockholders Equity	2.62B	2.60B	2.60B	2.60B	2.57B	2.68B
Cash Flow
Free Cash Flow	-228.00M	-147.50M	78.50M	81.60M	297.70M	430.80M
Operating Cash Flow	398.30M	417.90M	547.50M	449.10M	602.30M	660.90M
Investing Cash Flow	-902.00M	-641.30M	-970.10M	-330.50M	-251.00M	-203.80M
Financing Cash Flow	512.90M	198.40M	458.70M	-224.10M	-274.70M	-287.20M

Comfortdelgro Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.52
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:C52, the sentiment is Positive. The current price of 1.52 is above the 20-day moving average (MA) of 1.50, above the 50-day MA of 1.48, and above the 200-day MA of 1.46, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 65.46 is Neutral, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:C52.

Comfortdelgro Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
S56	72 Outperform	S$586.46M	5.85	16.35%	7.98%	16.82%	62.71%
S61	71 Outperform	S$1.19B	19.45	9.82%	8.85%	-2.55%	-0.55%
E3B	66 Neutral	S$730.80M	10.69	4.06%	11.07%	5.49%	-86.00%
C52	66 Neutral	S$3.36B	14.58	8.37%	5.55%	15.63%	12.07%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
J2T	60 Neutral	S$225.33M	13.21	7.27%	4.29%	-4.42%	-46.97%
F83	53 Neutral	S$550.85M	51.25	1.18%	―	6.34%	160.00%