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Swang Chai Chuan Ltd. (2321) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Swang Chai Chuan Ltd. stock HK$0.50, price HK$0.53, that is 5.7% below the price, quality 54 out of 100. Rating: fairly valued. Calculated from audited financials with 17 of our 26 valuation models and 37 quality factors, updated daily.

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Consumer Defensive HK · Based in Malaysia

SC Swang Chai Chuan Ltd. logo Thin data Nov 6, 2026

Swang Chai Chuan Ltd.

2321 · HK
Fairly valued, in an uptrend

The stock costs about what our calculation considers fair.

Low debt
Ranks above peers (9/13)
Costs just 8.6 times its yearly profit.
Fair value HK$0.5000 · Fairly valued
Quality 54/100
Expensive Growth (revenue 5y +10.6 %/yr in MYR)
Thin margins · 3.4% net margin (TTM)
Negative free cash flow
Narrow moat 35/100
Thin data
⚠ Small free float
Watch Swang Chai Chuan Ltd. for free: we tell you when fair value or trend changes. Watch for free

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$2.03 HK$0.3014 Fair Value HK$0.5000 Aug 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

51‑month range HK$0.3014 – HK$2.03 · fair‑value band HK$0.4400 – HK$0.5500 · the HK$0.5300 price screens above the HK$0.5000 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.

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Company profile

Swang Chai Chuan Limited, an investment holding company, engages in the distribution and sale of food and beverage products in Malaysia.

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The company distributes dairy products, frozen food, packaged food and commodities, sauces, oils and condiments, beverages, and specialty products; and personal and baby care products, pet care products, and cleaning and kitchen supplies, as well as honey, peanut butter, sugar, soy milk, salt, oats, organic beans, fries, nugget, sliced cheese, butter and pet food under the CED, Mega Foods, Mega Fresh, Sayangku, and Snowcat brand names.

It also provides logistics, warehousing, sales, marketing support, and other services. The company serves its customers through hypermarket/supermarket chains, provision shops, convenience stores/kiosks, food and beverage dealers and merchandisers, hotels/restaurants/cafes, and school canteens.

Swang Chai Chuan Limited was founded in 1982 and is headquartered in Kuantan, Malaysia.

Stock analysis

Swang Chai Chuan Ltd. (2321) currently trades at HK$0.5300, while our model-based Fair Value estimate is HK$0.5000, so the stock looks roughly fairly valued today (gap 6.0%).

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Valuation

Bull case: the Growth Earnings group reads highest at a median of HK$1.18 per share, and 8 of the 17 models we run sit above the HK$0.5300 price.

Bear case: the Dividend Discount group reads lowest at HK$0.1700, and 9 of the 17 models stay below the price. Data coverage for this calculation is low.

Scenario range: HK$0.4400 (bear) to HK$0.5500 (bull), the price of HK$0.5300 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 54/100 (solid quality), in the Consumer Defensive sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Swang Chai Chuan Ltd. reported revenue of 933M MYR in FY2025 versus 669M MYR in FY2021, a compound +8.7%/yr. Reported net income was 33.2M MYR in FY2025, compounding +9.0%/yr from FY2021.

Key figures

Market cap HK$530M (≈ $67.6M) Micro · P/E ratio 8.6 · P/S ratio 0.31 · Net margin 3.6% · Return on equity 12.1% · Return on assets (EBIT) 11.4% (5-year average) · Operating margin 5.0% · Revenue (TTM) 996M MYR.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (medium confidence).

What moves the price

The share trades about 4% below its 52-week high and 42% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Defensive peers we cover trades at −19% fair-value upside, at −6%, 2321 screens cheaper than that median.

Fair Value models

Bear HK$0.4400 Fair Value HK$0.5000 Bull HK$0.5500
Price HK$0.5300 · Downside -5.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Owner Earnings HK$0.1600 HK$0.2300 HK$0.3200 77
Residual Income HK$0.4600 HK$0.5100 HK$0.6200 76
ROIC Compounder HK$0.4400 HK$0.5000 HK$0.5500 72
All 17 models by family
DCF Models
Owner Earnings HK$0.1600 HK$0.2300 HK$0.3200 77
Earnings-Based
Graham-Dodd HK$0.4400 HK$1.30 HK$1.72 65
Lynch FV HK$0.2700 HK$0.3900 HK$0.5100 61
PEG = 1.0 HK$0.2700 HK$0.3900 HK$0.5100 57
EPV HK$0.4400 HK$0.5000 HK$0.5400 71
Dividend Discount
Gordon GGM HK$0.1000 HK$0.1800 HK$0.2400 68
DDM Multi-Stage HK$0.1000 HK$0.1600 HK$0.1900 67
Multiples
P/E Multiple HK$1.01 HK$1.35 HK$1.68 63
P/S Multiple HK$0.8200 HK$1.09 HK$1.36 58
P/B Multiple HK$2.18 HK$2.91 HK$3.63 55
EV/EBIT HK$0.8800 HK$1.21 HK$1.54 66
EV/EBITDA HK$0.7700 HK$1.06 HK$1.35 67
EV/Revenue HK$0.6000 HK$0.9000 HK$1.20 53
Asset-Based
NCAV (Graham) HK$0.2500 HK$0.3800 HK$0.4800 54
Economic Profit
Residual Income HK$0.4600 HK$0.5100 HK$0.6200 76
ROIC Compounder HK$0.4400 HK$0.5000 HK$0.5500 72
Growth Earnings
Growth-Adj P/E HK$0.8200 HK$1.18 HK$1.53 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 54/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 55
How much profit the company makes from its sales and capital
Quality Growth 38
Are margins and returns getting better?
Cashflow 8
Do the profits arrive as real cash?
Financial strength 80
Debt, balance sheet and risk of trouble
Investment 75
Does it invest with discipline instead of growing at any price?
Low Volatility 74
How calm the share price moves, does not count
Price momentum 53
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 79
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 55/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+2.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.6%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.0%
What shareholders gained per year (last 5 years), in MYR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in MYR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+11.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.3%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 4%

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Grocery Stores · 74 stocks

Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 54 · Below median
Fair Value upside −5.7% · Below median
Profitability
Return on equity (12 months) 12.1% · Below median
Return on assets 7.4% · Top 25%
Net margin (12 months) 3.4% · Above median
Operating margin (12 months) 5.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 13.4% · Top 25%
Dividend yield (12 months) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.16× · Below median

Valuation Multiplesvs Grocery Stores median · lower = cheaper

P/E (12 months) 8.6× · Cheapest 25%
P/B 1.00× · Cheapest 25%
P/S (12 months) 0.28× · Cheapest 25%
EV/EBITDA 5.8× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)26 · sector 38
FUTURE (revenue growth)67 · sector 14
PAST (return on equity)48 · sector 51
HEALTH (low debt)92 · sector 90
DIVIDEND (yield)0 · sector 53

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Grocery Stores stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Koninklijke Ahold Delhaize N.V AD €34.22 €54.03 +58% vs 2321
CP ALL Public Company CPALL 45.50 THB 58.24 THB +28% vs 2321
Metro Inc MRU C$98.61 C$97.54 −1% vs 2321
Carrefour SA CA €13.65 €12.62 −8% vs 2321
The Kroger Co KR $67.70 $54.76 −19% vs 2321
Coles Group COL A$22.57 A$17.03 −25% vs 2321
George Weston Limited WN C$109.28 C$72.52 −34% vs 2321
Loblaw Companies Limited L C$69.45 C$44.76 −36% vs 2321
Kesko Oyj KESKOB €25.66 €13.16 −49% vs 2321
Woolworths Group WOW A$42.47 A$19.56 −54% vs 2321

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Swang Chai Chuan Ltd.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Swang Chai Chuan Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/2321

Frequently asked questions

Is Swang Chai Chuan Ltd. (2321) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of HK$0.5000 versus a price of HK$0.5300, about 6% lower (fairly valued).
What is the fair value of 2321?
Our model-based fair value for Swang Chai Chuan Ltd. is HK$0.5000 (as of Nov 6, 2026), built from audited fundamentals. The current price: HK$0.5300.
What is the quality score of 2321?
Swang Chai Chuan Ltd. has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Swang Chai Chuan Ltd. (2321)?
Our model-based price target is the fair value of HK$0.5000 (as of Nov 6, 2026) from 17 valuation models. Cautious scenario HK$0.4400, optimistic scenario HK$0.5500. It is a calculation from audited fundamentals, not an analyst target.
What is the Swang Chai Chuan Ltd. stock forecast for 2026?
Our models put fair value at HK$0.5000, about 6% lower versus a price of HK$0.5300 (fairly valued). Cautious scenario HK$0.4400, optimistic scenario HK$0.5500. The calculation is refreshed regularly with new filings.
What is the revenue of Swang Chai Chuan Ltd. (2321)?
Swang Chai Chuan Ltd. reported trailing-twelve-month revenue of about 996M MYR (latest available figure, as of Nov 6, 2026).
What is the intrinsic value of Swang Chai Chuan Ltd. (2321)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Swang Chai Chuan Ltd. it is HK$0.5000 per share (as of Nov 6, 2026), against a price of HK$0.5300. It is the blended result of 17 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Swang Chai Chuan Ltd. stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 2321 trades above its calculated fair value: price HK$0.5300, fair value HK$0.5000, a gap of about −6% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 2321?
No. The price is what the market pays today (HK$0.5300); the fair value is what the company's own numbers justify (HK$0.5000). For Swang Chai Chuan Ltd. the two are HK$0.0300 per share apart. That gap is exactly why we show both numbers side by side.
How much is Swang Chai Chuan Ltd. worth?
The market values Swang Chai Chuan Ltd. at about HK$530M (market capitalisation, as of Nov 6, 2026). Per share that is HK$0.5300; our models calculate a fair value of HK$0.5000 per share.
What do the bullish and bearish scenarios say about 2321?
Our models span a range for Swang Chai Chuan Ltd.: cautious scenario HK$0.4400, base HK$0.5000, optimistic HK$0.5500 per share (as of Nov 6, 2026, price HK$0.5300). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2321?
Swang Chai Chuan Ltd. trades at a price-to-earnings ratio of 8.6 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$0.5000 is built from several models across several years. Other multiples: P/B 1.0, P/S 0.3, EV/EBITDA 5.8.
How solid is the balance sheet of Swang Chai Chuan Ltd. (2321)?
Balance-sheet figures for Swang Chai Chuan Ltd. (as of Nov 6, 2026): return on equity 12.1%, debt of 0.16 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 2321 from its 52-week high?
Swang Chai Chuan Ltd. trades at HK$0.5300, about 4% below its 52-week high of HK$0.5507 and 42% above the low of HK$0.3737 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.5000 is for.
Which stocks are comparable to Swang Chai Chuan Ltd.?
From the same area (Consumer Defensive) we also value Loblaw Companies Limited, The Kroger Co, Woolworths Group, Koninklijke Ahold Delhaize N.V, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Swang Chai Chuan Ltd. stock attractive at the current price?
The data as of Nov 6, 2026: price HK$0.5300, calculated fair value HK$0.5000 (−6%), Quality Score 54/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2321 calculated?
We run Swang Chai Chuan Ltd. through 17 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of HK$0.5000 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Swang Chai Chuan Ltd. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Swang Chai Chuan Ltd. (2321)?
The closing price on Nov 6, 2026 was HK$0.5300. Our model-based fair value is HK$0.5000, about 6% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Swang Chai Chuan Ltd. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Swang Chai Chuan Ltd.

How large is the market capitalisation of Swang Chai Chuan Ltd. (2321)?
The market capitalisation of Swang Chai Chuan Ltd. is HK$530M (≈ $67.6M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Swang Chai Chuan Ltd. (2321)?
The price-to-sales ratio of Swang Chai Chuan Ltd. is 0.31 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Swang Chai Chuan Ltd. (2321)?
The net margin of Swang Chai Chuan Ltd. is 3.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Swang Chai Chuan Ltd. (2321)?
The return on equity (ROE) of Swang Chai Chuan Ltd. is 12.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Swang Chai Chuan Ltd. (2321)?
On an EBIT basis the return on assets of Swang Chai Chuan Ltd. is 11.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Swang Chai Chuan Ltd. (2321)?
The operating margin of Swang Chai Chuan Ltd. is 5.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Swang Chai Chuan Ltd. (2321)?
Revenue at Swang Chai Chuan Ltd. is growing +13.4% versus a year earlier (3y avg +3.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Swang Chai Chuan Ltd. (2321)?
Earnings per share at Swang Chai Chuan Ltd. are growing +3.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Swang Chai Chuan Ltd. (2321) generate?
The free cash flow of Swang Chai Chuan Ltd. is −5.6M MYR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Swang Chai Chuan Ltd. (2321) carry?
The net debt of Swang Chai Chuan Ltd. is 55.4M MYR (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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