Raffles Education Corporation Limited (SG:NR7)
SGX:NR7
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Raffles Education
(SGX:NR7)
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Rating:49Neutral
Price Target:
S$0.14
▲(10.77% Upside)
Action:ReiteratedDate:01/20/26
The score is held back primarily by weak financial performance driven by steep revenue decline and poor cash flow conversion, despite a reasonably stable balance sheet. Technicals are supportive but look overextended, and valuation is a headwind given the high P/E and lack of dividend yield data.
Positive Factors
Moderate leverage / stable balance sheet
A debt-to-equity of 0.39 indicates conservative leverage that supports financial flexibility. Over a 2–6 month horizon this balance-sheet posture helps absorb enrolment or revenue volatility, preserve access to credit, and sustain operations or targeted campus investments without forcing distress sales.
Negative Factors
Steep revenue decline
A >50% revenue contraction is a structural red flag: it reduces scale economics, strains campus utilization, and undermines pricing power. Sustained top-line shrinkage impairs the ability to cover fixed costs, constrains reinvestment in programmes, and heightens execution risk over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate leverage / stable balance sheet
A debt-to-equity of 0.39 indicates conservative leverage that supports financial flexibility. Over a 2–6 month horizon this balance-sheet posture helps absorb enrolment or revenue volatility, preserve access to credit, and sustain operations or targeted campus investments without forcing distress sales.
Read all positive factors
Raffles Education (NR7) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$261.75M
Dividend YieldN/A
Average Volume (3M)9.84M
Price to Earnings (P/E)―
Beta (1Y)0.72
Revenue Growth-0.43%
EPS GrowthN/A
CountrySG
Employees2,500
SectorConsumer Defensive
Sector Strength42
IndustryEducation & Training Services
Share Statistics
EPS (TTM)<0.01
Shares Outstanding1,827,792,700
10 Day Avg. Volume15,499,879
30 Day Avg. Volume9,840,323
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)0.10
Price to Sales (P/S)0.52
P/FCF Ratio401.11
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)0.02
Revenue Forecast (FY)S$118.72M
Raffles Education Business Overview & Revenue Model
Company Description
Raffles Education Corporation Limited, an investment holding company, provides education and related services in ASEAN, North Asia, South Asia, Australasia, and Europe. It operates through four segments: Education, Education Facilities Rental Serv...
How the Company Makes Money
Raffles Education primarily makes money by charging tuition and other student-related fees for education programmes delivered across its private education institutions. Key revenue streams typically include (i) programme tuition fees collected fro...
Raffles Education Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 111.71M | 112.47M | 110.89M | 105.37M | 97.73M |
| Gross Profit | 111.71M | 70.14M | 10.02M | -4.40M | 4.85M |
| EBITDA | 43.60M | 15.75M | 38.12M | 62.02M | 66.00M |
| Net Income | 7.70M | -19.26M | -5.30M | 9.61M | 16.39M |
Balance Sheet | |||||
| Total Assets | 1.02B | 1.10B | 1.15B | 1.28B | 1.38B |
| Cash, Cash Equivalents and Short-Term Investments | 16.86M | 33.07M | 24.21M | 37.42M | 29.53M |
| Total Debt | 218.89M | 237.99M | 288.69M | 303.54M | 396.01M |
| Total Liabilities | 378.19M | 418.23M | 454.21M | 495.64M | 598.81M |
| Stockholders Equity | 555.83M | 589.98M | 599.96M | 675.17M | 671.38M |
Cash Flow | |||||
| Free Cash Flow | 145.00K | 5.70M | -12.12M | -15.83M | -13.06M |
| Operating Cash Flow | 4.35M | 19.40M | 4.26M | 16.77M | 14.20M |
| Investing Cash Flow | 3.10M | 11.02M | 2.41M | 59.88M | -29.15M |
| Financing Cash Flow | -19.97M | -25.26M | -19.89M | -68.76M | 36.27M |
Raffles Education Technical Analysis
Positive
0.13
Price Trends
0.13
Positive
0.13
Positive
0.10
Positive
Market Momentum
>-0.01
Negative
56.62
Neutral
58.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:NR7, the sentiment is Positive. The current price of 0.13 is above the 20-day moving average (MA) of 0.13, below the 50-day MA of 0.13, and above the 200-day MA of 0.10, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 56.62 is Neutral, neither overbought nor oversold. The STOCH value of 58.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:NR7.
Raffles Education Peers Comparison
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241.86%
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Raffles Education Corporate Events
Raffles Education Issues New Shares on Convertible Bond Conversion
Apr 29, 2026
Raffles Education has converted a further S$10,000 of its outstanding convertible bonds into equity, issuing 153,846 new ordinary shares at S$0.065 per share. The move marginally increases its issued share capital to 1,817,429,613 shares, with the...
Raffles Education Converts Debt to Equity, Expands Share Base
Mar 10, 2026
Raffles Education has completed the conversion of outstanding amounts owed to its chairman, Mr. Chew, into equity, issuing 241,100,605 new ordinary shares under previously agreed binding term sheets. This debt-to-equity conversion increases the co...
Raffles Education Redeems S$12.25 Million in Unlisted Bonds
Feb 28, 2026
Raffles Education Limited has redeemed and cancelled S$12.25 million in unlisted, non-convertible bonds, paying a total of S$12.40 million including accrued interest in cash to the bond subscribers. This repayment reduces the company’s bond ...
RafflesEducation Sells 51 Merchant Road to Cut Debt and Fund ASEAN Growth
Feb 27, 2026
RafflesEducation has completed the disposal of its property at 51 Merchant Road, generating net cash proceeds of approximately S$121.3 million to advance its balance sheet optimisation and deleveraging strategy. The company, which has over 36 year...
Raffles Education Declares Special Interim Dividend and Applies Scrip Scheme
Feb 27, 2026
Raffles Education Limited has declared a tax-exempt, one-tier special interim dividend of S$0.004 per share for the financial year ending 30 June 2026. The move reflects the board’s decision to distribute expected cash savings from earlier p...
Raffles Education Completes S$121.8 Million Sale of Singapore Property
Feb 27, 2026
Raffles Education has completed the disposal of its property at 51 Merchant Road in Singapore through its subsidiary, Raffles Assets (Singapore) Pte. Ltd. The asset was sold for S$121.8 million in cash, with the property delivered to the buyer fre...
Raffles Education Converts S$57,000 of Bonds Into New Shares
Feb 20, 2026
Raffles Education has converted a portion of its outstanding convertible bonds into equity, issuing 876,923 new shares at S$0.065 each to bondholders on 16 February 2026. This move slightly increases its share capital and marginally reduces its bo...
Raffles Education Posts Positive Operating Profit and Bolsters Balance Sheet in 1H FY2026
Feb 16, 2026
Raffles Education reported stable revenue of S$56.63 million and returned to a positive operating profit in the first half of FY2026, underscoring the resilience of its education business. Net profit fell to S$3.11 million, but adjusted EBITDA rem...
Raffles Education Issues New Shares on Convertible Bond Conversion
Feb 4, 2026
Raffles Education has announced the conversion of S$159,354 in principal amount of its Convertible Bonds into 2,451,597 new ordinary shares at a conversion price of S$0.065 per share, in line with the terms of its 30 August 2022 trust deed. Follow...
Raffles Education Fully Deploys S$5.5 Million From Treasury Share Sale
Feb 3, 2026
Raffles Education has disclosed that the S$5.50 million in net proceeds raised from the recent sale of 44.66 million treasury shares has been fully deployed. The funds were used largely for loan repayments, personnel and other operating expenses, ...
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.
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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.