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JBB Builders International Ltd (1903) fair value: what the stock is really worth

As of Oct 26, 2026: fair value (intrinsic value) of JBB Builders International Ltd stock HK$0.21, price HK$1.99, upside -89.4%, quality 60 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Industrials · HK · Based in Malaysia · ISIN KYG5086B1041

JB JBB Builders International Ltd logo Thin data Oct 26, 2026

JBB Builders International Ltd

1903 · HK

Stretched ValuationStrong overvaluation with only moderate quality.

Our calculation puts a fair price 89% below what the stock costs today.

Quality 60/100
Low debt
Expensive Growth (revenue 5y +23.9 %/yr in HKD)
Fair value HK$0.2100 · Strongly overvalued (−89.4%)
Loss-making · -0.1% net margin (TTM)
Negative free cash flow
Trails peers (3/10)
Narrow moat 20/100 · thin data
Thin data
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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$3.16 HK$0.3900 Fair Value HK$0.2100 Jun 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 26, 2026.

How to read this chart

60‑month range HK$0.3900 – HK$3.16 · fair‑value band HK$0.1400 – HK$0.2600 · the HK$1.99 price screens above the HK$0.2100 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 26, 2026.

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Company profile

JBB Builders International Limited, an investment holding company, provides marine construction, and building and infrastructure services in Malaysia and Singapore.

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The company offers land reclamation and related works, such as soil investigation, hydrographic survey, pre-reclamation design, sand handling/filling, ground treatment, sand surcharge removal work, and other related works; and marine civil works, including construction of jetty, channel-crossing works, maintenance dredging, and river diversion works.

It also provides marine transportation services comprising transportation of marine sand, loading of marine sand extracted from the approved sand source onto sand carriers, and carriage and delivery of marine sand to designated sites where the marine sand is unloaded to be used for land reclamation.

In addition, the company offers building and infrastructure services, such as general building works in construction of properties and infrastructure works.

Further, it engages in the construction and fleet management activities; undertakes land-based machinery and rental works, as well as sand dredging and loading works; and construction and trading of sand and marine gas oil.

JBB Builders International Limited was founded in 2012 and is headquartered in Johor Bahru, Malaysia.

Stock analysis

JBB Builders International Ltd (1903) currently trades at HK$1.99, while our model-based Fair Value estimate is HK$0.2100, 89.4% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: HK$0.1400 (bear) to HK$0.2600 (bull), the price of HK$1.99 sits above 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 60/100 (solid quality), in the Industrials sector.

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

JBB Builders International Ltd reported revenue of HK$411M in FY2026 versus HK$512M in FY2022, a compound −5.3%/yr. Reported net income was −HK$534K in FY2026.

Key figures

Market cap HK$993M (≈ $127M) Micro · P/S ratio 2.66 · Net margin −0.1% · Return on equity −0.4% · Return on assets (EBIT) 1.0% · Operating margin 0.4% · Revenue (TTM) HK$413M · Revenue growth (YoY) +9.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 20 out of 100 (low confidence).

What moves the price

The share trades about 37% below its 52-week high and 86% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −29% fair-value upside, at −89%, 1903 screens richer than that median.

Fair Value models

Bear HK$0.1400 Fair Value HK$0.2100 Bull HK$0.2600
Price HK$1.99 · Upside -89.4%
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
NCAV (Graham) HK$0.1400 HK$0.2100 HK$0.2600 55
All 1 models by family
Asset-Based
NCAV (Graham) HK$0.1400 HK$0.2100 HK$0.2600 55

Open the full fair value analysis →

Quality Score breakdown

Overall quality 60/100

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

Profitability 31
How much profit the company makes from its sales and capital
Quality Growth 44
Are margins and returns getting better?
Cashflow 50
Do the profits arrive as real cash?
Financial strength 91
Debt, balance sheet and risk of trouble
Investment 88
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Momentum 29
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 41
Distance to the 52-week high, does not count
New shares 67
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. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−3.7%
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.
+23.6%
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.
+23.9%
Start year 2021 (pandemic). Over 10 years: +3.9% a year
Revenue growth 10 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.
+3.9%
Profit margin (trend) ⓘ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.
−6.7% (2021) → −0.9% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

1903 screens overvalued: fair value 89% below the price. Compare with Quanta Services, Inc →

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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.Engineering & Construction · 802 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 60 · Top 25%
Fair Value upside −89.4% · Bottom 25%
Profitability
Return on assets −0.2% · Bottom 25%
Net margin (12 months) −0.1% · Bottom 25%
Operating margin (12 months) 0.4% · Below median
Growth and dividend
Revenue growth (quarter YoY) 9.8% · Above median
Balance sheet
Debt / equity 0.02× · Below median

Valuation Multiplesvs Engineering & Construction median · lower = cheaper

P/B 8.12× · Priciest 25%
P/S (12 months) 2.41× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 38
FUTURE (revenue growth)49 · sector 19
PAST (return on equity)0 · sector 28
HEALTH (low debt)99 · sector 94
DIVIDEND (yield)0 · sector 43

VALUE 0: the price sits above our fair-value range.

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vinci SA DG €106.45 €186.68 +75% vs 1903
WSP Global Inc WSP C$182.75 C$201.03 +10% vs 1903
Comfort Systems USA, Inc FIX $1,161 $1,122 −3% vs 1903
EMCOR Group EME $647.66 $527.04 −19% vs 1903
ACS, Actividades de Construcción y Servicios, S.A ACS €87.55 €62.21 −29% vs 1903
Larsen & Toubro Limited LT ₹3,647 ₹2,302 −37% vs 1903
HOCHTIEF Aktiengesellschaft HOT €357.00 €203.86 −43% vs 1903
Samsung C&T Corporation 028260 290,000 KRW 159,718 KRW −45% vs 1903
Ferrovial N.V FER $50.02 $23.21 −54% vs 1903
Quanta Services, Inc PWR $546.43 $162.77 −70% vs 1903

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JBB Builders International Ltd · Fair Value
HK$0.2100 −89%Fair Value
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Cite: Fair Value Calculator (2026). "JBB Builders International Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1903.HK

Frequently asked questions

Is JBB Builders International Ltd (1903) overvalued or undervalued?
As of Oct 26, 2026, our model estimates a fair value of HK$0.2100 versus a price of HK$1.99, about −89% upside (overvalued).
What is the fair value of 1903?
Our model-based fair value for JBB Builders International Ltd is HK$0.2100 (as of Oct 26, 2026), built from audited fundamentals. The current price: HK$1.99.
What is the quality score of 1903?
JBB Builders International Ltd has a Quality Score of 60/100. 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 JBB Builders International Ltd (1903)?
Our model-based price target is the fair value of HK$0.2100 (as of Oct 26, 2026) from 1 valuation models. Cautious scenario HK$0.1400, optimistic scenario HK$0.2600. It is a calculation from audited fundamentals, not an analyst target.
What is the JBB Builders International Ltd stock forecast for 2026?
Our models put fair value at HK$0.2100, about −89% upside versus a price of HK$1.99 (overvalued). Cautious scenario HK$0.1400, optimistic scenario HK$0.2600. The calculation is refreshed regularly with new filings.
What is the revenue of JBB Builders International Ltd (1903)?
JBB Builders International Ltd reported trailing-twelve-month revenue of about HK$413M (latest available figure, as of Oct 26, 2026).
What is the intrinsic value of JBB Builders International Ltd (1903)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For JBB Builders International Ltd it is HK$0.2100 per share (as of Oct 26, 2026), against a price of HK$1.99. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is JBB Builders International Ltd stock overvalued or undervalued in 2026?
As of Oct 26, 2026, 1903 trades above its calculated fair value: price HK$1.99, fair value HK$0.2100, a gap of about −89% (overvalued). 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 1903?
No. The price is what the market pays today (HK$1.99); the fair value is what the company's own numbers justify (HK$0.2100). For JBB Builders International Ltd the two are HK$1.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is JBB Builders International Ltd worth?
The market values JBB Builders International Ltd at about HK$993M (market capitalisation, as of Oct 26, 2026). Per share that is HK$1.99; our models calculate a fair value of HK$0.2100 per share.
What do the bullish and bearish scenarios say about 1903?
Our models span a range for JBB Builders International Ltd: cautious scenario HK$0.1400, base HK$0.2100, optimistic HK$0.2600 per share (as of Oct 26, 2026, price HK$1.99). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of JBB Builders International Ltd (1903)?
Balance-sheet figures for JBB Builders International Ltd (as of Oct 26, 2026): return on equity −0.4%, debt of 0.02 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 1903 from its 52-week high?
JBB Builders International Ltd trades at HK$1.99, about 37% below its 52-week high of HK$3.16 and 86% above the low of HK$1.07 (as of Oct 26, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2100 is for.
Which stocks are comparable to JBB Builders International Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, 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 JBB Builders International Ltd stock attractive at the current price?
The data as of Oct 26, 2026: price HK$1.99, calculated fair value HK$0.2100 (−89%), Quality Score 60/100, from 1 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 1903 calculated?
We run JBB Builders International Ltd through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$0.2100, 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 12.7 % above its aggregate fair value. JBB Builders International 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 JBB Builders International Ltd (1903)?
The closing price on Oct 26, 2026 was HK$1.99. Our model-based fair value is HK$0.2100, about −89% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with JBB Builders International Ltd right now?
The price sits above even our optimistic bull case (HK$0.2600). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (HK$0.1400 to HK$0.2600) leaves room in how you read the outcome.
Where does the earnings growth of JBB Builders International Ltd (1903) come from?
Earnings per share at JBB Builders International Ltd grew −23.6 % a year from 2016 to 2026. Broken into its drivers: revenue per share −0.5 %, EBIT margin −22.6 %, tax rate −1.1 %, residual (interest, one-offs) +0.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of JBB Builders International Ltd

How large is the market capitalisation of JBB Builders International Ltd (1903)?
The market capitalisation of JBB Builders International Ltd is HK$993M (≈ $127M). 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 JBB Builders International Ltd (1903)?
The price-to-sales ratio of JBB Builders International Ltd is 2.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of JBB Builders International Ltd (1903)?
The net margin of JBB Builders International Ltd is −0.1% (last twelve months). 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 JBB Builders International Ltd (1903)?
The return on equity (ROE) of JBB Builders International Ltd is −0.4% (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 JBB Builders International Ltd (1903)?
On an EBIT basis the return on assets of JBB Builders International Ltd is 1.0% (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 JBB Builders International Ltd (1903)?
The operating margin of JBB Builders International Ltd is 0.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at JBB Builders International Ltd (1903)?
Revenue at JBB Builders International Ltd is growing +9.8% versus a year earlier (3y avg +23.6%). 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 JBB Builders International Ltd (1903)?
Earnings per share at JBB Builders International Ltd are growing −93.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does JBB Builders International Ltd (1903) generate?
The free cash flow of JBB Builders International Ltd is −HK$25.8M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does JBB Builders International Ltd (1903) hold?
JBB Builders International Ltd holds more cash than debt, HK$115M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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