Also trades as: CPAMF (OTC) · $vol 0M

S$2.27 ($1.77)

+0.03 (+1.34%)

Weekly Expected Move ±1.7%

S$2 S$2 S$2 S$2 S$2

SES · Real Estate · REIT - Retail · Tech Score Sell · Power 38 · S$17.7B mcap · 6.25B float · 0.469% daily turnover

Revenue

$1.6B +3.1% ▲

5Y CAGR: +17.0%

Gross Profit

$1.1B -5.1% ▼

5Y CAGR: +16.4%

Operating Income

$1.1B +1.6% ▲

5Y CAGR: +17.7%

Net Income

$937M +0.4% ▲

5Y CAGR: +21.8%

EPS (Diluted)

$0.13 -7.1% ▼

5Y CAGR: +9.2%

EBITDA

$1.1B -17.4% ▼

5Y CAGR: +17.6%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$1.3B	$1.4B	$1.6B	$1.6B	$1.6B
YoY Growth	+75.1%	+10.5%	+8.2%	+1.7%	+3.1%
Cost of Revenue	$354M	$398M	$501M	$433M	$539M
Gross Profit	$884M	$1.0B	$1.1B	$1.2B	$1.1B
Gross Margin	67.7%	72.4%	67.9%	72.7%	67.0%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$88M	$95M	$38M	$100M	$112M
Operating Expenses	$21M	$95M	$42M	$104M	$29M
Operating Income	$863M	$948M	$1.0B	$1.0B	$1.1B
Operating Margin	66.2%	65.8%	66.5%	66.2%	65.2%
Interest Expense	$182M	$232M	$346M	$356M	$281M
Income Before Tax	$1.1B	$730M	$879M	$935M	$959M
Tax Expense	$19M	$4M	$10M	-$6M	$7M
Net Income	$1.1B	$723M	$863M	$934M	$937M
Net Margin	83.0%	50.2%	55.3%	58.9%	57.3%
EPS (Diluted)	$0.17	$0.11	$0.13	$0.14	$0.13
EBITDA	$1.3B	$966M	$1.0B	$1.3B	$1.1B
Shares Outstanding	6.49B	6.64B	6.66B	6.88B	7.44B

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$764M	$784M	$800M	$792M	$794M	$788M	$847M	$852M
Cost of Revenue	$260M	$270M	$270M	$243M	$189M	$247M	$278M	$275M
Gross Profit	$504M	$515M	$530M	$548M	$605M	$540M	$560M	$577M
Gross Margin	66.0%	65.6%	66.3%	69.3%	76.2%	68.6%	66.1%	67.8%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$2M	$2M	$28M	$16M	$83M	$15M	$97M	$0
Operating Expenses	$4M	$3M	-$11M	$16M	$1.1B	$15M	$14M	$24M
Operating Income	$500M	$512M	$541M	$532M	-$532M	$525M	$541M	$553M
Operating Margin	65.4%	65.3%	67.7%	67.2%	-67.0%	66.7%	63.8%	64.9%
Interest Expense	$138M	$154M	$183M	$0	$356M	$146M	$141M	$128M
Income Before Tax	$271M	$392M	$481M	$373M	$563M	$412M	$546M	$710M
Tax Expense	-$2M	$4M	$6M	$2M	-$9M	$7M	$508K	$3M
Net Income	$310M	$388M	$475M	$365M	$569M	$400M	$538M	$699M
Net Margin	40.6%	49.4%	59.4%	46.1%	71.6%	50.7%	63.4%	82.1%
EPS (Diluted)	$0.05	$0.06	$0.07	$0.05	$0.08	$0.05	$0.07	$0.09
EBITDA	$502M	$504M	$517M	$532M	$759M	$526M	$541M	$839M
Shares Outstanding	6.65B	6.65B	6.67B	6.71B	6.71B	7.32B	7.55B	7.74B

C38U.SI SES