Financials Q & M Dental Group (Singapore) Limited

Equities

QC7

SG2E73981531

Healthcare Facilities & Services

Market Closed - Singapore S.E. Other stock markets 05:04:38 2024-04-29 am EDT			5-day change	1st Jan Change
0.24 ^SGD	+4.35%		+2.13%	-5.88%

Apr. 16	Q & M Dental Group Limited Announces Cessation of Chong Kai Chuan as Alternate Director	CI
Apr. 16	Q & M Dental Group Limited Announces Resignation of Ang Ee Peng Raymond as Executive Director	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	377.1	370	568.4	298.1	241.3	217.7	-	-
Enterprise Value (EV) ¹	377.1	370	604.5	343.5	241.3	254.7	255.8	217.7
P/E ratio	21 x	18.8 x	18.7 x	26.3 x	20.9 x	13.1 x	12.8 x	11.5 x
Yield	-	1.91%	5.95%	3.17%	-	4.17%	4.62%	10%
Capitalization / Revenue	2.95 x	2.69 x	2.76 x	1.65 x	1.32 x	1.15 x	1.15 x	1.03 x
EV / Revenue	2.95 x	2.69 x	2.94 x	1.9 x	1.32 x	1.35 x	1.35 x	1.03 x
EV / EBITDA	-	12.5 x	12.1 x	14.5 x	9.86 x	8.62 x	7.42 x	6.85 x
EV / FCF	-	19.1 x	14.1 x	15.2 x	-	9.6 x	8.99 x	8.14 x
FCF Yield	-	5.25%	7.1%	6.57%	-	10.4%	11.1%	12.3%
Price to Book	-	3.06 x	5.81 x	3.09 x	-	2 x	1.83 x	2.09 x
Nbr of stocks (in thousands)	942,750	944,774	939,443	946,443	946,443	946,443	-	-
Reference price ²	0.4000	0.3917	0.6050	0.3150	0.2550	0.2300	0.2300	0.2300
Announcement Date	4/15/20	2/28/21	2/22/22	3/1/23	2/29/24	-	-	-

¹SGD in Million²SGD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	128	137.6	205.6	181.2	182.7	188.6	189.7	210.8
EBITDA ¹	-	29.63	50.12	23.61	24.48	29.56	34.47	31.8
EBIT ¹	-	26.18	45.99	18.72	19.4	24.28	24.82	26.4
Operating Margin	-	19.02%	22.37%	10.33%	10.62%	12.87%	13.08%	12.52%
Earnings before Tax (EBT) ¹	-	22.37	46.65	14.28	13.66	19.85	20.11	21.8
Net income ¹	-	19.7	30.47	11.31	11.52	16.73	16.73	18.57
Net margin	-	14.32%	14.82%	6.24%	6.3%	8.87%	8.82%	8.81%
EPS ²	0.0191	0.0208	0.0323	0.0120	0.0122	0.0175	0.0180	0.0200
Free Cash Flow ¹	-	19.41	42.93	22.58	-	26.54	28.46	26.75
FCF margin	-	14.11%	20.88%	12.46%	-	14.07%	15%	12.69%
FCF Conversion (EBITDA)	-	65.51%	85.65%	95.62%	-	89.79%	82.57%	84.12%
FCF Conversion (Net income)	-	98.53%	140.88%	199.65%	-	158.64%	170.1%	144.05%
Dividend per Share ²	-	0.007500	0.0360	0.0100	-	0.009600	0.0106	0.0230
Announcement Date	4/15/20	2/28/21	2/22/22	3/1/23	2/29/24	-	-	-

¹SGD in Million²SGD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 S1
Net sales ¹	87.14
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income	-
Net margin	-
EPS	-
Dividend per Share	-
Announcement Date	8/14/23

¹SGD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	36.1	45.4	-	37	38.1	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	0.7206 x	1.921 x	-	1.252 x	1.105 x	-
Free Cash Flow ¹	-	19.4	42.9	22.6	-	26.5	28.5	26.8
ROE (net income / shareholders' equity)	-	16.2%	27.8%	11.6%	-	15.6%	15.8%	17.4%
ROA (Net income/ Total Assets)	-	6.8%	11.1%	6.08%	-	7.33%	6.94%	9.02%
Assets ¹	-	289.8	275.5	186.1	-	228.4	241.2	205.9
Book Value Per Share ²	-	0.1300	0.1000	0.1000	-	0.1200	0.1300	0.1100
Cash Flow per Share	-	-	0.0500	0.0400	-	-	-	-
Capex ¹	-	6.39	7.87	11	-	6.19	6.67	6.32
Capex / Sales	-	4.64%	3.83%	6.06%	-	3.28%	3.51%	3%
Announcement Date	4/15/20	2/28/21	2/22/22	3/1/23	2/29/24	-	-	-

¹SGD in Million²SGD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Q & M Dental Group (Singapore) Limited

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.23 SGD

Average target price

0.3467 SGD

Spread / Average Target

+50.73%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Healthcare Facilities & Services

	1st Jan change	Capi.
Q & M DENTAL GROUP (SINGAPORE) LIMITED	-5.88%	160M
CVS HEALTH CORPORATION	-14.92%	84.68B
HCA HEALTHCARE, INC.	+13.30%	81.12B
DR. SULAIMAN AL HABIB MEDICAL SERVICES GROUP COMPANY	+11.62%	29.59B
LABORATORY CORPORATION OF AMERICA HOLDINGS	-12.71%	16.73B
FRESENIUS SE & CO. KGAA	-2.42%	16.36B
QUEST DIAGNOSTICS INCORPORATED	-2.63%	14.92B
PURE HEALTH HOLDING	-31.58%	11.77B
FRESENIUS MEDICAL CARE AG	-0.47%	11.72B
DAVITA INC.	+27.44%	11.71B

Other Healthcare Facilities & Services