Moderate Leverage / Stable Balance SheetA debt-to-equity of 0.39 signals conservative leverage, giving the company structural financial flexibility to fund operations, maintain campuses, or absorb enrollment volatility without immediate refinancing pressure. This balance sheet stability supports multi-month recovery scenarios.
Improved Operating MarginsMaterial margin improvement indicates the company has cut costs or raised efficiency in core delivery. Sustained higher operating margins increases resilience to revenue shocks, improves break-even dynamics and enhances long-term cash generation once enrolments normalize.
Recurring Tuition-based Business Model And Brand NetworkA tuition-driven, campus network model creates recurring, predictable revenue and program diversification. The Raffles brand and multi-campus footprint support student recruitment and cross-selling of programs, providing durable demand and revenue resilience over several months to years.