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Q&M Dental
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Q&M dental
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ecekca
Elite |
08-Mar-2016 07:02
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Balancing positions or speculating if there are no news.
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jessliew
Senior |
07-Mar-2016 10:48
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Hmm how come qnm keep going down since the quarter result come out? The result is pretty good.. | ||||
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jeremyow
Master |
04-Mar-2016 15:32
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You are welcomed ecekca! :)
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ecekca
Elite |
04-Mar-2016 15:22
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Good stuff . U r right
Their leader is poor . That why they never managed to turnaround.
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jeremyow
Master |
04-Mar-2016 10:20
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Healthway Medical Corp' s financial performace loses out to Raffles Medical Corp. Even though the former is one of the leading medical and healthcare groups in Singapore with a very large number of medical and dental clinics currently, the group does not seem to perform well in terms of its financials, Its revenue has been growing through the years with mostly single digits growth yearly on yearly. However it pales in comparison with its peers such as Raffles Medical Corp and Q & M Dental Group which can command double digits growth in its revenue. Furthermore, Healthway' s operating profits (excluding extraordinary items) have been rocky through the years with some years having earning losses. As such, it has accumulated losses on its balance sheet abeit that the accumulated losses has decreased slowly through the years. However, it still manages to bring in positive cashflows through the years.  Fast forward to its most recent financial performance, its operating profits has decreased significantly yearly on yearly by 72.9% from FY2014 to FY2015. The EPS for FY2015 is $0.0007 as compared to FY2014 of $0.0043 which is a decrease of 83.7% yearly on yearly. This is quite a drastic decrease of more than half (50%) of its previous year' s operating profits. Its current PE ratio in the 40s is high not because of rising share price but because of the drastic decrease in its EPS for FY2015. Thus, do be careful not to just rely on PE ratio at surface value but investigate why a company is having high PE ratio. It could well be that its operating profits and EPS has decreased significantly yearly on yearly even though its share price has not increased.   What do all these rocky financial figures through the past decade show us? The answer is quite obvious. Even though the group had expanded its operations in terms of number of medical and dental clinics in Singapore and China increasing its revenue at only a modest pace, its operations seems not to be bringing in parallel growth in profits and even suffered losses on some years. This could suggest difficulty and lack in managing costs for this medical and healthcare group even as it is making just modest growth on its revenue. As such, the return on shareholder equity (ROE at best single digit or negative on some years) is not much to be desired even if this medical and healthcare group has been expanding its operations. This also tells us that even if an industry is good such as healthcare industry with its defensive nature, there are different players in the industry and each player may perform differently even if their nature of operations are very similar. A remaining question to ask is will this medical and healthcare operator improve in its business in future? Well, we shall have to wait for a while and see. As of now, its past financial performance (for at least the past decade) does not interest me as an investor to consider taking a closer look at this medical and healthcare group.      
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ecekca
Elite |
03-Mar-2016 20:42
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Looks like u expert in healthcare
Care to tell me the difference btw healthway and raffles. Y one is underperforminh ?
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jeremyow
Master |
03-Mar-2016 17:49
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Having said that, good healthcare companies may also remain highly priced in their PE ratio for a very good long time. An example is Raffles Medical Group which has been constantly enjoying a high PE ratio of 20 to 40 range for very much of its time since public listed. Raffles Medical Group' s shares was listed during IPO in 1997 at $0.38 per share. Fast forward to today 19 years later, its share price is $4.43. An estimated calculation on the cumulative annual growth rate (CAGR) of Raffles Medical Group just solely on the performance of its share price is around 13.9% per annum. This does not include any dividends collected so far. If we add in the total accumulated dividends a shareholder has collected over the past 19 years since its IPO, the CAGR is definitely higher than 13.9% per annum. Thus, there is a good reason why shares of healthcare companies particularly good ones are consistently traded at high PE ratios because they have proven themselves over time to be solid good investments generating high CAGR for their shareholders.          
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jeremyow
Master |
03-Mar-2016 11:00
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Q & M' s valuation is all along already high (PE ratio of 30 to 40) which most people with a bit of fundamental knowledge knows. Such growth stock are traded high for a good reason that investors think the company is growing well with double digit growth in its revenue and net profits yearly on yearly. The risk with investing in such growth stock is not that the company will face problems with survival in its businesses but rather whether it can continue to promise good growth in its revenue and earnings. Q & M in fact is now a household name and most people you ask on the streets know of this dental group as its number of dental clinics just in Singapore alone is a sizeable number and visible to the public. The fact that it can continue to grow its number of dental clinics locally and overseas be it organically or through aquisitions and also prominent dental practitioners have came in to join this group shows its strength both financially and also in its brand. However, the risk is that since it has been performing well in its growth, practice and financials so far, any misses on the estimates of its future revenue and earnings growth may result in a market reaction with some investors selling its shares. So, a high growth company is as good as it is if it can continue to maintain its high growth. I believe there will come a time when Q & M will reach its full potential and growth will taper down to a more realistic figure in the range of single digits. Until then, its PE ratio will naturally come down to a more realistic range rather than the premium it commands now at between 30 to 40. When will it reach its full potential and a more realistic growth figure in its revenue and net profits? Well, I think it maybe quite sometime down the road as this group is currently still aggressively expanding organically through opening more dental clinics locally and overseas and also acquiring other smaller dental companies (locally and overseas) and dental related equipments manufacturing and distribution companies. But surely there will come a day when growth tapers to a more sustainable figure and PE ratio will come down to more realistic figure as well when a company has reached its full potential and maturity and there will be not much further room for high growth.    
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ecekca
Elite |
03-Mar-2016 09:07
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Updated:    08:45, 3 Mar' 16 CapitaLand      3.100      +0.03 Global Logistic      1.844      -0.016 ComfortDelGro      3.026      +0.016 CapitaMall Trust      2.210      +0.05 SGX      7.362      -0.018 JMH USD      57.305      +0.285 Venture      8.238      -0.002 CityDev      7.600      -0.07 DBXT Vietnam US$X@      22.026      -0.074 SingTelMBePW160504@      0.000      0.00 Maruwa Yen1k      0.000      0.00 Low Keng Huat      0.000      0.00 Trek 2000 Intl      0.000      0.00 China New Town^      0.000      0.00 ElektromotW200505      0.000      0.00 Global Inv      0.000      0.00 CN8000MBePW160629@      0.000      0.00 Chiwayland Intl^      0.000      0.00 Sino Techfibre      0.000      0.00 STI 2900MBeCW160630@      0.000      0.00    
 
 
 
 
 
Q& M Dental cut to &lsquo reduce&rsquo by CIMB with lower 64 cents targetBy PC Lee  / theedgemarkets.com   | March 3, 2016 : 8:41 AM MYT     ![]() ![]() ![]() Translated by Google Translator: 
 
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SINGAPORE (March 3): CIMB is downgrading Q& M Dental Group to &ldquo reduce&rdquo from &ldquo add&rdquo and cutting the target price to 64 cents from 84 cents, citing high valuations. The dental-care provider posted a 43% drop in fourth-quarter core net profit which was &ldquo very disappointing,&rdquo says CIMB, adding that the valuation looks rich compared with the sector average. Q& M Dental closed at 70 cents on Wednesday. |
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ecekca
Elite |
02-Mar-2016 09:01
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okie..tx bro.. exposure to china ha.. tsk tsk
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ecekca
Elite |
02-Mar-2016 08:59
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would it be a good stock to put in monitor list? i still rem healthway medical(now damn jialat.. )... just wondering about this Q& M Dental One is Doctor and one is Dentist...
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jamesng
Master |
01-Mar-2016 16:52
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Price too high. Business in china might not turn out too good...... |
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bishan22
Supreme |
01-Mar-2016 15:38
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Div rather low and the price already quite high liao...
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ecekca
Elite |
01-Mar-2016 15:14
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Anyone can share their view on qm dental? Why it good to buy etc?
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sharenewbie0301
Veteran |
01-Mar-2016 15:10
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Is this result better than expected? How come no movement today?? | ||||
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jessliew
Senior |
29-Feb-2016 15:51
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Quarter result gonna out.. Mayb today.. Hope is a very good result!!! | ||||
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spore1
Supreme |
28-Feb-2016 15:17
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Looks like a Bull flag has been formed. Looking good to move up to cross over 73 cents and head higher towards 80 cents. http://sporeshare.blog   spot.sg/2016/02/q-dental.html |
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ak0defiance
Member |
23-Feb-2016 23:20
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Dont understand why no release of any news suddenly the price went up? |
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spore1
Supreme |
23-Feb-2016 22:50
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Very nice breakout today. Looks rather bullish and may cont to head higher. http://sporeshare.blog   spot.sg/2016/02/q-dental.html   |
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jessliew
Senior |
27-Jan-2016 17:19
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Lol..
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