ALPHA IVF GROUP BERHAD – Record Quarterly Results, Growth Trajectory Intact

ALPHA posted its highest-ever quarterly performance in 4QFY25, with revenue reaching RM50.0m and PATAMI improving to RM16.1m. 

Despite the strong financial showing, the share price remains near its bottom. At yesterday’s closing of 29.5sen, it is only 11.3% above its all-time low of 26.5sen.

The company declared an interim of 0.5sen/share, bringing the total dividend for FY25 to 1.0sen/share. This translates into a dividend yield of 3.39% - notably higher than that of most healthcare stocks listed in Bursa Malaysia.

Thanks to its asset-light business model, ALPHA has a high return on equity (ROE) of nearly 30%.

The stock is currently trading at 25x historical earnings. 

As of end-May 2025, ALPHA had short-term investments and cash and bank balances totaling to RM155.9m, with zero borrowing.

With the expansion plans underway in Malaysia, China and South East Asia, the group is poised for meaningful revenue growth in FY26 and FY27.

Currently footprint:

4 full-fledged IVF centres in Malaysia and Singapore; 

2 sales and representative offices in China; and 

2 satelite clinics in Indonesia.

Over the next 12 months, the group anticipates the commencement of:

2 additional IVF centres in Malaysia

2 IVF centres in Philippines

1 IVF centre and 2 more satelite clinics in Indonesia

With solid fundamentals, a strong balance sheet, and a leading position in the IVF market, ALPHA’s regional growth strategy makes it a healthcare stock to watch.