Haw Par Corporation Limited (SG:H02)
SGX:H02
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Haw Par
(SGX:H02)
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Rating:78Outperform
Price Target:
S$17.00
▲(4.36% Upside)
Action:ReiteratedDate:03/01/26
The score is driven mainly by strong financial strength (very low leverage and improved 2025 cash generation) and supportive valuation/income appeal (moderate P/E and high dividend yield). Offsetting factors are mixed near-term technical momentum and fundamentals to monitor, including the 2025 revenue decline and net margins that appear influenced by non-operating items.
Positive Factors
Very strong balance sheet
Extremely low leverage and steady equity growth give the company durable financial flexibility. Over the next 2-6 months this supports capacity to fund operations, dividends, and opportunistic investments without refinancing risk, reducing downside in economic stress.
Negative Factors
2025 revenue decline
A notable top-line decline in 2025 weakens the base for sustainable earnings and could pressure margins if fixed costs remain. Over the coming months, continued revenue softness would constrain organic growth, reinvestment, and dividend sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong balance sheet
Extremely low leverage and steady equity growth give the company durable financial flexibility. Over the next 2-6 months this supports capacity to fund operations, dividends, and opportunistic investments without refinancing risk, reducing downside in economic stress.
Read all positive factors
Haw Par (H02) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$3.76B
Dividend Yield8.96%
Average Volume (3M)144.52K
Price to Earnings (P/E)13.1
Beta (1Y)0.73
Revenue Growth5.85%
EPS Growth6.82%
CountrySG
Employees595
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)0.55
Shares Outstanding221,368,180
10 Day Avg. Volume160,760
30 Day Avg. Volume144,516
Financial Highlights & Ratios
PEG Ratio0.79
Price to Book (P/B)0.81
Price to Sales (P/S)15.10
P/FCF Ratio12.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Haw Par Business Overview & Revenue Model
Company Description
Haw Par Corporation Limited, together with its subsidiaries, manufactures, markets, and trades in healthcare products in Singapore, ASEAN countries, other Asian countries, and internationally. The company operates through three segments: Healthcar...
How the Company Makes Money
Haw Par makes money primarily through (1) sales of healthcare products and (2) income generated from its investment properties, with additional contributions from its leisure/attractions segment.
1) Healthcare products (consumer healthcare):
- Re...
Haw Par Financial Statement Overview
Summary
Income Statement
74
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 | 229.97M | 244.82M | 232.06M | 182.09M | 141.18M |
| Gross Profit | 128.76M | 134.09M | 134.89M | 98.57M | 73.64M |
| EBITDA | 73.45M | 250.11M | 233.49M | 49.06M | 119.45M |
| Net Income | 265.46M | 228.27M | 216.57M | 148.32M | 110.10M |
Balance Sheet | |||||
| Total Assets | 4.42B | 4.28B | 3.59B | 3.65B | 3.28B |
| Cash, Cash Equivalents and Short-Term Investments | 834.71M | 3.93B | 3.21B | 3.18B | 596.23M |
| Total Debt | 44.27M | 36.30M | 28.48M | 58.40M | 762.00K |
| Total Liabilities | 126.83M | 128.47M | 117.17M | 101.41M | 72.08M |
| Stockholders Equity | 4.29B | 4.15B | 3.48B | 3.55B | 3.21B |
Cash Flow | |||||
| Free Cash Flow | 269.17M | 50.33M | 54.92M | 21.21M | 14.46M |
| Operating Cash Flow | 271.29M | 53.79M | 62.68M | 40.94M | 18.84M |
| Investing Cash Flow | 76.93M | 199.82M | 258.00M | -261.58M | 87.52M |
| Financing Cash Flow | -300.68M | -82.79M | -79.30M | -38.07M | -65.11M |
Haw Par Technical Analysis
Positive
16.29
Price Trends
16.32
Positive
16.03
Positive
14.99
Positive
Market Momentum
0.28
Negative
60.49
Neutral
80.68
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:H02, the sentiment is Positive. The current price of 16.29 is above the 20-day moving average (MA) of 16.14, below the 50-day MA of 16.32, and above the 200-day MA of 14.99, indicating a bullish trend. The MACD of 0.28 indicates Negative momentum. The RSI at 60.49 is Neutral, neither overbought nor oversold. The STOCH value of 80.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:H02.
Haw Par Peers Comparison
UnderperformOutperform
Sector (51)
SG:H02
Haw Par
16.99
6.41
60.66%
SG:BSL
Raffles Medical Group
1.02
0.09
9.44%
SG:A50
Thomson Medical Group Ltd.
0.06
0.02
40.00%
SG:1J5
Hyphens Pharma International Ltd.
0.32
0.07
30.08%
SG:40T
ISEC Healthcare Ltd
0.34
0.02
5.26%
SG:546
Medtecs International Corporation Ltd.
0.12
0.02
14.29%
Haw Par Corporate Events
Haw Par Subsidiary Underwater World Singapore Struck Off Company Register
Dec 31, 2025
Haw Par Corporation Limited has announced that its indirect wholly owned subsidiary, Underwater World Singapore Pte Ltd, has been officially struck off the Register of Companies by Singapore’s Accounting and Corporate Regulatory Authority, f...
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.