Raffles Education Corporation Limited (SG:NR7)
SGX:NR7
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Raffles Education
(SGX:NR7)
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Rating:44Neutral
Price Target:
S$0.12
âĵ(-10.77% Downside)
Action:Reiterated
Date:06/12/26
The score is driven primarily by weak financial performance (sharp revenue decline and poor free-cash-flow generation) and bearish technicals (below key moving averages with negative MACD). Valuation further pressures the score due to the high P/E without a dividend yield to offset risk.
Positive Factors
Moderate leverage
A debt-to-equity ratio of ~0.39 indicates the company is not over-levered, preserving financial flexibility. This moderate leverage reduces refinancing pressure, supports medium-term liquidity management, and allows capital allocation to operations or program investment without excessive interest burden.
Negative Factors
Sharp revenue decline
A ~50% revenue drop is a structural red flag: it erodes scale economics, reduces fixed-cost coverage and bargaining power, and makes margin gains harder to translate into absolute profit. Sustained revenue instability undermines investment plans and long-term program viability.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate leverage
A debt-to-equity ratio of ~0.39 indicates the company is not over-levered, preserving financial flexibility. This moderate leverage reduces refinancing pressure, supports medium-term liquidity management, and allows capital allocation to operations or program investment without excessive interest burden.
Read all positive factors
Raffles Education (NR7) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$217.23M
Dividend YieldN/A
Average Volume (3M)9.84M
Price to Earnings (P/E)45.7
Beta (1Y)0.65
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 Target
S$0.32Price Target Upside146.15% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.02
Revenue Forecast (FY)S$118.72M
Raffles Education Business Overview & Revenue Model
Company Description
Raffles Education Corporation Limited, a Singaporean investment holding enterprise established in 1990, delivers educational offerings and associated services across a broad international footprint, encompassing Southeast Asia, North Asia, South A...
How the Company Makes Money
Raffles Education primarily makes money by charging tuition and other student-related fees for programs delivered through its education institutions (e.g., enrolment/registration fees, course fees, and other ancillary fees tied to student services...
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
Negative
0.13
Price Trends
0.13
Negative
0.13
Negative
0.12
Positive
Market Momentum
>-0.01
Positive
40.65
Neutral
55.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:NR7, the sentiment is Negative. 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 0.12, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.65 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:NR7.
Raffles Education Peers Comparison
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Sector (62)
SG:NR7
Raffles Education
0.12
0.08
205.00%
SG:42W
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0.03
<0.01
6.67%
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Zhongxin Fruit & Juice Ltd.
0.03
>-0.01
-11.76%
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Kencana Agri Limited
0.48
0.39
451.72%
SG:GRQ
Don Agro International Limited
0.17
>-0.01
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SG:K03
Khong Guan Limited
0.92
0.05
5.75%
Raffles Education Corporate Events
Raffles Education Issues New Shares on Convertible Bond Conversion
May 28, 2026
Raffles Education has issued 15,384 new ordinary shares following the conversion of S$1,000 in principal amount of its convertible bonds at a conversion price of S$0.065 per share. The move marginally increases the company’s share capital wh...
Raffles Education Subsidiary Wins Liability Phase in S$29 Million Dispute With NPS International
May 21, 2026
Raffles Education has announced that its subsidiary, Raffles Assets (Singapore) Pte. Ltd., has prevailed in the first tranche of a High Court suit brought by NPS International School over a disputed S$500,000 deposit tied to a proposed lease at 51...
Raffles Education Unveils Related-Party Bond Refinancing and Special Dividend Plan
May 11, 2026
Raffles Education plans a refinancing exercise involving the purchase and cancellation of S$35 million in existing listed convertible bonds held by its chairman and controlling shareholder, Chew Hua Seng, and his spouse, Doris Chung. In exchange, ...
Raffles Education Strengthens Balance Sheet as It Targets ASEAN Kâ12 Expansion
May 7, 2026
Raffles Education posted resilient results for the nine months to 31 March 2026, with core earnings of S$22.71 million on relatively stable revenue despite the disposal of its Raffles Hefei asset and currency headwinds. The Group’s net asset...
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...
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.