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$0.13
▼(-0.77% Downside)
Action:Reiterated
Date: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 moderate debt-to-equity ratio of 0.39 signals a conservative capital structure that supports solvency and financial flexibility over the medium term. This allows the company to fund operations or selective investments without excessive refinancing risk, aiding resilience through revenue volatility.
Negative Factors
Steep revenue decline
A 50.4% revenue drop is a structural headwind that reduces scale, weakens pricing power, and strains fixed-cost coverage. Persistent top-line contraction undermines long-term profitability, limits reinvestment in programs and marketing, and increases execution risk for any turnaround plan.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate leverage / stable balance sheet
A moderate debt-to-equity ratio of 0.39 signals a conservative capital structure that supports solvency and financial flexibility over the medium term. This allows the company to fund operations or selective investments without excessive refinancing risk, aiding resilience through revenue volatility.
Read all positive factors
Raffles Education (NR7) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$231.48M
Dividend YieldN/A
Average Volume (3M)9.84M
Price to Earnings (P/E)―
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)0.00
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 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
0.14
Negative
0.11
Positive
Market Momentum
<0.01
Positive
43.71
Neutral
10.93
Positive
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 below the 20-day moving average (MA) of 0.14, below the 50-day MA of 0.13, and above the 200-day MA of 0.11, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 43.71 is Neutral, neither overbought nor oversold. The STOCH value of 10.93 is Positive, 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)
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Raffles Education
0.13
0.09
244.74%
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0.00
0.00%
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0.51
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0.97
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13.53%
Raffles Education Corporate Events
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 K–12 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...
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...
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.