TBK and Sons Holdings Ltd (1960) fair value: what the stock is really worth
As of Oct 26, 2026: fair value (intrinsic value) of TBK and Sons Holdings Ltd stock HK$0.08, price HK$0.36, upside -77.4%, quality 53 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?No
Good quality?Yes
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
Energy · HK · Based in Malaysia · ISIN KYG5823C1006
TAThin dataOct 26, 2026
TBK and Sons Holdings Ltd
1960 · HK
Stretched ValuationStrong overvaluation with only moderate quality.
Our calculation puts a fair price 77% below what the stock costs today.
Low debt
Generates free cash flow
Quality 53/100
Fair value HK$0.0802 · Strongly overvalued (−77.4%)
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
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$0.1200 – HK$0.6500 · fair‑value band HK$0.0602 – HK$0.0802 · the HK$0.3550 price screens above the HK$0.0802 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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TBK & Sons Holdings Limited, an investment holding company, undertakes civil and structural works in the oil and gas industry in Malaysia and the People's Republic of China.
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The company operates through Site Preparation Works Projects, Civil Works Projects, Building Works Projects, Construction and Renovation Works Projects, and Trading of Oil and Related Products segments.
Its civil and structural works services include site preparation works, such as earthwork, demolition works, and temporary facilities, as well as infrastructure construction, including building temporary site offices, canteens, warehouses, etc.; and civil works for process plants comprise reinforced concrete foundations, pipe supports, ponds, pits, underground and open drainage networks, paving works, and related plant civil maintenance works.
In addition, the company undertakes building works, such as the building of sub-stations, field auxiliary rooms, workshops, and storage buildings, etc. in the oil and gas industries.
Further, it trades in oil and related products, as well as provides construction and renovation works, and engages in construction labor work. TBK & Sons Holdings Limited was incorporated in 1975 and is based in Port Dickson, Malaysia. The company is a subsidiary of TBK & Sons International Limited.
Stock analysis
TBK and Sons Holdings Ltd (1960) currently trades at HK$0.3550, while our model-based Fair Value estimate is HK$0.0802, 77.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of HK$0.0700 per share, and 0 of the 6 models we run sit above the HK$0.3550 price.
Bear case: the Multiples group reads lowest at HK$0.0300, and 6 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: HK$0.0602 (bear) to HK$0.0802 (bull), the price of HK$0.3550 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 53/100 (solid quality), in the Energy sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
TBK and Sons Holdings Ltd reported revenue of HK$97.4M in FY2025 versus HK$189M in FY2021, a compound −15.3%/yr. Reported net income was −HK$28.3M in FY2025.
Key figures
Market cap HK$355M (≈ $45.3M) Micro · P/S ratio 3.42 · EPS (TTM) HK$−0.0400 · Net margin −29.1% · Return on equity −27.2% · Return on assets (EBIT) −8.3% · Operating margin −9.8% · Revenue (TTM) HK$101M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (low confidence).
What moves the price
The share trades about 45% below its 52-week high and 78% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −68% fair-value upside, at −77%, 1960 screens richer than that median.
Fair Value models
BearHK$0.0602Fair Value HK$0.0802BullHK$0.0802
Price HK$0.3550 · Upside -77.4%
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.
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.18/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−66.2%
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.
−51.0%
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.
−8.4%
Start year 2020 (pandemic)
Revenue growth 9 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.
+12.6%
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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.
11.4% (2020) → −30.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
Compare TBK and Sons Holdings Ltd with another stock
Price, fair value, quality and upside side by side.
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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.Oil & Gas Refining & Marketing · 113 stocks
Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside−77.4% · Bottom 25%
Profitability
Return on assets−19.4% · Bottom 25%
Net margin (12 months)−21.0% · Bottom 25%
Operating margin (12 months)−9.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)7.5% · Below median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Oil & Gas Refining & Marketing median · lower = cheaper
P/B4.40× · Priciest 25%
P/S (12 months)3.52× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 24
FUTURE (revenue growth)38· sector 100
PAST (return on equity)0· sector 45
HEALTH (low debt)100· sector 85
DIVIDEND (yield)0· sector 68
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "TBK and Sons Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1960
Frequently asked questions
Is TBK and Sons Holdings Ltd (1960) overvalued or undervalued?
As of Oct 26, 2026, our model estimates a fair value of HK$0.0802 versus a price of HK$0.3550, about −77% upside (overvalued).
What is the fair value of 1960?
Our model-based fair value for TBK and Sons Holdings Ltd is HK$0.0802 (as of Oct 26, 2026), built from audited fundamentals. The current price: HK$0.3550.
What is the quality score of 1960?
TBK and Sons Holdings Ltd has a Quality Score of 53/100. 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 TBK and Sons Holdings Ltd (1960)?
Our model-based price target is the fair value of HK$0.0802 (as of Oct 26, 2026) from 6 valuation models. Cautious scenario HK$0.0602, optimistic scenario HK$0.0802. It is a calculation from audited fundamentals, not an analyst target.
What is the TBK and Sons Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.0802, about −77% upside versus a price of HK$0.3550 (overvalued). Cautious scenario HK$0.0602, optimistic scenario HK$0.0802. The calculation is refreshed regularly with new filings.
What is the revenue of TBK and Sons Holdings Ltd (1960)?
TBK and Sons Holdings Ltd reported trailing-twelve-month revenue of about HK$101M (latest available figure, as of Oct 26, 2026).
What growth is priced into TBK and Sons Holdings Ltd (1960)?
For today's price to be fair in a discounted-cash-flow model, TBK and Sons Holdings Ltd would have to grow free cash flow by more than 80 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -8.4 % per year. As of Oct 26, 2026.
What discount rate (WACC) does the fair value of 1960 use?
Our models discount TBK and Sons Holdings Ltd at 10.0 %: a base by market capitalisation (nano), damped by beta 0.87, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For TBK and Sons Holdings Ltd that is more than 80 % per year a year over ten years, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has TBK and Sons Holdings Ltd (1960) delivered so far?
Over the past 5 years revenue at TBK and Sons Holdings Ltd grew -8.4 % a year. The price currently implies more than 80 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of TBK and Sons Holdings Ltd (1960) growing?
The median revenue growth in the sector is +7.6 % a year. That is the yardstick for the growth priced into TBK and Sons Holdings Ltd (more than 80 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of TBK and Sons Holdings Ltd (1960)?
The free-cash-flow yield on the price is 0.16 %: that much free cash flow TBK and Sons Holdings Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TBK and Sons Holdings Ltd (1960)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TBK and Sons Holdings Ltd it is HK$0.0802 per share (as of Oct 26, 2026), against a price of HK$0.3550. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is TBK and Sons Holdings Ltd stock overvalued or undervalued in 2026?
As of Oct 26, 2026, 1960 trades above its calculated fair value: price HK$0.3550, fair value HK$0.0802, a gap of about −77% (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 1960?
No. The price is what the market pays today (HK$0.3550); the fair value is what the company's own numbers justify (HK$0.0802). For TBK and Sons Holdings Ltd the two are HK$0.2748 per share apart. That gap is exactly why we show both numbers side by side.
How much is TBK and Sons Holdings Ltd worth?
The market values TBK and Sons Holdings Ltd at about HK$355M (market capitalisation, as of Oct 26, 2026). Per share that is HK$0.3550; our models calculate a fair value of HK$0.0802 per share.
What do the bullish and bearish scenarios say about 1960?
Our models span a range for TBK and Sons Holdings Ltd: cautious scenario HK$0.0602, base HK$0.0802, optimistic HK$0.0802 per share (as of Oct 26, 2026, price HK$0.3550). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of TBK and Sons Holdings Ltd (1960)?
Balance-sheet figures for TBK and Sons Holdings Ltd (as of Oct 26, 2026): return on equity −27.2%, debt of 0.00 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 1960 from its 52-week high?
TBK and Sons Holdings Ltd trades at HK$0.3550, about 45% below its 52-week high of HK$0.6500 and 78% above the low of HK$0.2000 (as of Oct 26, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.0802 is for.
Which stocks are comparable to TBK and Sons Holdings Ltd?
From the same area (Energy) we also value Reliance Industries Limited, Marathon Petroleum Corporation, Valero Energy Corporation, Phillips 66, 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 TBK and Sons Holdings Ltd stock attractive at the current price?
The data as of Oct 26, 2026: price HK$0.3550, calculated fair value HK$0.0802 (−77%), Quality Score 53/100, from 6 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 1960 calculated?
We run TBK and Sons Holdings Ltd through 6 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$0.0802, 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. TBK and Sons Holdings 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 TBK and Sons Holdings Ltd (1960)?
The closing price on Oct 26, 2026 was HK$0.3550. Our model-based fair value is HK$0.0802, about −77% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TBK and Sons Holdings Ltd right now?
The price sits above even our optimistic bull case (HK$0.0802). 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 (53/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of TBK and Sons Holdings Ltd
How large is the market capitalisation of TBK and Sons Holdings Ltd (1960)?
The market capitalisation of TBK and Sons Holdings Ltd is HK$355M (≈ $45.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of TBK and Sons Holdings Ltd (1960)?
The price-to-sales ratio of TBK and Sons Holdings Ltd is 3.42 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of TBK and Sons Holdings Ltd (1960)?
Earnings per share at TBK and Sons Holdings Ltd are HK$−0.0400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of TBK and Sons Holdings Ltd (1960)?
The net margin of TBK and Sons Holdings Ltd is −29.1% (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 TBK and Sons Holdings Ltd (1960)?
The return on equity (ROE) of TBK and Sons Holdings Ltd is −27.2% (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 TBK and Sons Holdings Ltd (1960)?
On an EBIT basis the return on assets of TBK and Sons Holdings Ltd is −8.3% (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 TBK and Sons Holdings Ltd (1960)?
The operating margin of TBK and Sons Holdings Ltd is −9.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TBK and Sons Holdings Ltd (1960)?
Revenue at TBK and Sons Holdings Ltd is growing +7.5% versus a year earlier (3y avg −51.0%). 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 TBK and Sons Holdings Ltd (1960)?
Earnings per share at TBK and Sons Holdings Ltd are growing −38.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does TBK and Sons Holdings Ltd (1960) hold?
TBK and Sons Holdings Ltd holds more cash than debt, HK$20.7M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Oct 26, 2026