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PropNex Ltd.
(SGX:OYY)
Select Model
Select Model
Rating:77Outperform
Price Target:
S$2.00
â–²(12.36% Upside)
Action:Upgraded
Date:08/04/26
The score is driven primarily by strong financial performance (low leverage, solid profitability, and strong free cash flow in 2025). Offsetting this, technical indicators are neutral with the stock still below its 200-day moving average. Valuation is supported by a high dividend yield, but the P/E suggests only moderate attractiveness.
Positive Factors
Conservative balance sheet
Very low leverage and a sizable equity base give the company durable financial flexibility: supports dividends, investments, and market-making through property cycles, reduces interest burden and lowers bankruptcy risk, helping sustain operations during downturns.
Negative Factors
Cyclicality of revenues
The company's commission-driven model is structurally tied to property transaction cycles and new-launch pacing. This creates persistent revenue volatility tied to interest rates, developer activity and macro conditions, complicating earnings predictability over 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a sizable equity base give the company durable financial flexibility: supports dividends, investments, and market-making through property cycles, reduces interest burden and lowers bankruptcy risk, helping sustain operations during downturns.
Read all positive factors
PropNex Ltd. (OYY) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.31B
Dividend Yield5.37%
Average Volume (3M)653.06K
Price to Earnings (P/E)19.0
Beta (1Y)0.83
Revenue Growth8.12%
EPS Growth7.61%
CountrySG
Employees173
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.09
Shares Outstanding740,000,000
10 Day Avg. Volume307,660
30 Day Avg. Volume653,060
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)11.98
Price to Sales (P/S)1.25
P/FCF Ratio14.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$2.08Price Target Upside17.04% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)0.1
Revenue Forecast (FY)S$1.14B
PropNex Ltd. Business Overview & Revenue Model
Company Description
Headquartered in Singapore and established in 1996, PropNex Limited is a prominent provider of real estate services, operating both domestically and on an international scale. The company's multifaceted operations are categorized into four core di...
How the Company Makes Money
PropNex makes money mainly by earning commissions and fees when property transactions are successfully completed. Its key revenue streams generally include: (1) Brokerage commissions from sales and purchases: PropNex earns a share of transaction c...
PropNex Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.12B | 1.12B | 782.95M | 838.10M | 1.03B | 957.49M |
| Gross Profit | 87.88M | 90.33M | 70.98M | 59.77M | 104.68M | 101.79M |
| EBITDA | 74.10M | 76.47M | 52.78M | 63.01M | 82.73M | 82.30M |
| Net Income | 69.07M | 70.38M | 40.92M | 47.81M | 62.36M | 60.03M |
Balance Sheet | ||||||
| Total Assets | 372.89M | 333.43M | 285.70M | 343.06M | 375.35M | 294.57M |
| Cash, Cash Equivalents and Short-Term Investments | 161.19M | 163.98M | 142.84M | 138.35M | 144.13M | 145.65M |
| Total Debt | 3.72M | 7.46M | 2.83M | 2.97M | 5.01M | 2.91M |
| Total Liabilities | 245.38M | 214.74M | 160.95M | 216.84M | 248.86M | 181.99M |
| Stockholders Equity | 123.77M | 116.09M | 123.41M | 125.15M | 125.55M | 109.43M |
Cash Flow | ||||||
| Free Cash Flow | 82.46M | 94.41M | 37.74M | 61.41M | 51.04M | 82.54M |
| Operating Cash Flow | 82.71M | 94.82M | 38.04M | 62.14M | 51.41M | 83.08M |
| Investing Cash Flow | -13.84M | 25.30M | -14.26M | -15.52M | -4.37M | -565.10K |
| Financing Cash Flow | -75.46M | -82.88M | -45.29M | -52.09M | -53.80M | -42.67M |
PropNex Ltd. Technical Analysis
Negative
1.78
Price Trends
1.78
Negative
1.77
Negative
1.81
Negative
Market Momentum
>-0.01
Positive
46.80
Neutral
25.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:OYY, the sentiment is Negative. The current price of 1.78 is above the 20-day moving average (MA) of 1.78, above the 50-day MA of 1.78, and below the 200-day MA of 1.81, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.80 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:OYY.
PropNex Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | S$1.31B | 18.97 | 57.59% | 5.37% | 8.12% | 7.61% | |
70 Outperform | S$531.34M | 11.17 | 3.27% | 8.57% | 117.73% | -23.82% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | S$13.02B | 50.97 | 2.05% | 4.56% | -15.36% | -57.57% | |
61 Neutral | S$279.98M | 6.70 | 5.59% | 2.08% | 7.49% | 283.69% | |
57 Neutral | S$192.98M | 1.39 | 30.64% | 10.39% | 3412.03% | 1089.66% | |
49 Neutral | S$749.26M | 18.98 | 1.32% | 1.09% | -0.88% | 20.85% |
* Real Estate Sector Average
SG:OYY
PropNex Ltd.
1.77
-0.52
-22.57%
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14.81%
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0.39
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15.73%
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SG:9CI
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2.63
-0.02
-0.75%
PropNex Ltd. Corporate Events
PropNex Says Subsidiary Lawsuit Withdrawn With No Material Financial Impact
Jul 10, 2026
PropNex Limited has announced that a lawsuit previously filed against its subsidiary, PropNex Realty Pte. Ltd., has been discontinued and withdrawn by the claimants. The company stated that the withdrawal of the suit will not have a material impac...
PropNex Faces Third Party Claim in High Court Property Dispute
Jul 1, 2026
PropNex Realty has received a third party notice of claim from a defendant in an ongoing High Court case involving property purchasers’ claims against their solicitors and one of PropNex’s salespersons. The defendant is seeking indemni...
PropNex Reshapes Board and Committees to Strengthen Governance
Jun 23, 2026
PropNex Limited has reshuffled its board and key board committees, appointing Lim Teck Chai, Danny as an independent non-executive director effective 1 July 2026, and naming him chairman of the remuneration committee while also adding him as a mem...
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.