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Credit Bureau Asia Limited
(SGX:TCU)
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Rating:76Outperform
Price Target:
S$1.50
â–²(38.89% Upside)
Action:Upgraded
Date:07/01/26
The score is driven primarily by strong financial quality (high profitability, low leverage, and solid cash generation), partially offset by 2025 softness in growth/margins/FCF. Technicals add little support with the price sitting slightly below key moving averages, while valuation is helped by a very high dividend yield but constrained by a mid-to-high P/E.
Positive Factors
Recurring, fee-based business model
The company's core model sells credit reports, subscriptions, monitoring and analytics to institutional customers. Recurring and usage-based revenues create predictable cash flows, enable high lifetime value per client, and support durable revenue visibility and cross-sell opportunities across credit lifecycle services.
Negative Factors
2025 revenue growth slowdown
A material slowdown in top-line growth reduces operating leverage and long-term earnings momentum. If the low-single-digit growth persists, it limits scope for margin expansion and reinvestment, increases reliance on cost cuts or pricing power, and constrains dividend and capex flexibility over medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring, fee-based business model
The company's core model sells credit reports, subscriptions, monitoring and analytics to institutional customers. Recurring and usage-based revenues create predictable cash flows, enable high lifetime value per client, and support durable revenue visibility and cross-sell opportunities across credit lifecycle services.
Read all positive factors
Credit Bureau Asia Limited (TCU) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$253.43M
Dividend Yield12.29%
Average Volume (3M)33.62K
Price to Earnings (P/E)23.1
Beta (1Y)0.08
Revenue Growth0.94%
EPS Growth0.85%
CountrySG
Employees189
SectorFinancial
Sector Strength70
IndustryFinancial - Data & Stock Exchanges
Share Statistics
EPS (TTM)0.05
Shares Outstanding230,390,000
10 Day Avg. Volume33,190
30 Day Avg. Volume33,619
Financial Highlights & Ratios
PEG Ratio-6.78
Price to Book (P/B)5.73
Price to Sales (P/S)4.97
P/FCF Ratio10.97
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)0.05
Revenue Forecast (FY)S$72.06M
Credit Bureau Asia Limited Business Overview & Revenue Model
Company Description
Credit Bureau Asia Limited (CBA), a Singapore-headquartered investment holding company established in 1993, delivers comprehensive credit and risk information solutions across Singapore, Malaysia, Cambodia, and Myanmar. The company's operations ar...
How the Company Makes Money
Credit Bureau Asia Limited (TCU) generates revenue primarily by providing credit information and related services to institutional customers, especially lenders and other organizations that require credit risk assessment and monitoring. Its key re...
Credit Bureau Asia Limited Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 60.92M | 60.11M | 59.71M | 54.17M | 48.62M | 45.38M |
| Gross Profit | 35.03M | 34.63M | 47.31M | 42.42M | 37.94M | 35.11M |
| EBITDA | 33.48M | 32.57M | 35.48M | 31.21M | 27.32M | 26.16M |
| Net Income | 10.82M | 10.74M | 11.24M | 9.84M | 8.40M | 7.84M |
Balance Sheet | ||||||
| Total Assets | 84.31M | 104.78M | 103.49M | 93.72M | 88.15M | 84.81M |
| Cash, Cash Equivalents and Short-Term Investments | 51.79M | 71.15M | 67.99M | 61.01M | 54.10M | 53.46M |
| Total Debt | 4.68M | 5.24M | 6.09M | 3.28M | 3.55M | 4.08M |
| Total Liabilities | 29.89M | 30.40M | 30.80M | 25.69M | 24.16M | 21.52M |
| Stockholders Equity | 31.56M | 52.12M | 51.76M | 49.52M | 47.54M | 47.28M |
Cash Flow | ||||||
| Free Cash Flow | 29.73M | 27.21M | 28.62M | 24.86M | 19.91M | 16.82M |
| Operating Cash Flow | 30.63M | 28.77M | 30.21M | 26.12M | 22.81M | 19.95M |
| Investing Cash Flow | -8.26M | -27.74M | 3.90M | 16.88M | -23.56M | -1.79M |
| Financing Cash Flow | -47.31M | -25.11M | -22.92M | -20.70M | -18.61M | -17.82M |
Credit Bureau Asia Limited Technical Analysis
Neutral
1.08
Price Trends
1.09
Positive
1.11
Negative
1.12
Negative
Market Momentum
<0.01
Negative
53.83
Neutral
23.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:TCU, the sentiment is Neutral. The current price of 1.08 is below the 20-day moving average (MA) of 1.08, below the 50-day MA of 1.09, and below the 200-day MA of 1.12, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 53.83 is Neutral, neither overbought nor oversold. The STOCH value of 23.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:TCU.
Credit Bureau Asia Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | S$253.43M | 23.09 | 25.87% | 12.29% | 0.94% | 0.85% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | S$1.12B | 11.38 | 3.09% | 3.63% | -27.48% | -21.92% | |
52 Neutral | S$696.09M | -4.73 | -5.81% | 17.25% | -73.51% | -131.35% |
* Financial Sector Average
SG:TCU
Credit Bureau Asia Limited
1.09
-0.13
-10.87%
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Luminor Financial Holdings Limited
0.03
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Singapura Finance Ltd
0.78
0.03
4.45%
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Sing Investments & Finance Limited
1.58
-0.08
-4.59%
SG:S41
Hong Leong Finance Limited
2.48
-0.03
-1.16%
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Yangzijiang Financial Holding Ltd.
0.20
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-59.10%
Credit Bureau Asia Limited Corporate Events
Credit Bureau Asia Fully Utilises IPO Proceeds in Capital Reduction
Jun 28, 2026
Credit Bureau Asia Limited has fully deployed the remaining S$20.3 million of its initial public offering proceeds as part of a capital reduction exercise. This move follows earlier use of S$6.7 million, bringing total IPO proceeds to full utilisa...
Credit Bureau Asia Shareholders Back Board, Dividend and New Share Mandate at AGM
May 13, 2026
Credit Bureau Asia Limited held its Annual General Meeting in Singapore on 24 April 2026, where shareholders received the audited financial statements for the year ended 31 December 2025 and approved a final one-tier exempt dividend of S$0.022 per...
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.