PropNex - DBS Research 2026-03-02: Balanced Risk-reward

• PropNex (SGX:OYY) reported 2H25 net attributable profit of S$ 28.1mil (+28.3% y-o-y), bringing the full-year net attributable profit to S$ 70.4mil (+72.0% y-o-y), which missed DBS/consensus estimates by ~12%/10%.
• - Read this at SGinvestors.io -
• A final dividend of 4.5 cents per share was proposed, bringing total PropNex's dividends for the year to a high of 9.5 cents / share (FY24: 7.75 cents), representing a payout ratio of 99.9%.

A high dividend play.

• - Read this at SGinvestors.io -
• In addition, PropNex has close to S$ 150mil of net cash on the balance sheet, translating to S$ 0.20/share (~10% of market cap), which we believe can be paid out to shareholders opportunistically. For now, management is keeping it as acquisition gunpower.

Growth moderation projected in 2026-2027.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Previous report by DBS:
2025-08-14 PropNex - Reaching For The Stars.

Price targets by 2 other brokers at PropNex Target Prices.

Listing of research reports at PropNex Analyst Reports.

Relevant links:
PropNex Share Price History,
PropNex Announcements,
PropNex Dividend Payout Dates & Corporate Actions,
PropNex News