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UNION GAS HOLDINGS LIMITED (1F2) Fair Value & Analysis

Consumer Cyclical · SG · Market cap 129M SGD

UG UNION GAS HOLDINGS LIMITED 1F2 · SG
Price0.4900 SGD
Fair Value0.7300 SGD
Upside+49.0%
Quality57/100
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Healthy Growth
Thin margins · 7.6% net margin
Low debt · generates free cash flow
3.80% dividend yield
Ranks above peers (12/14)
Moderate moat 45/100
Evidence: High Range 0.5300 SGD – 0.9100 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 4 days ago

Share price +22.5% over the past month.

A solid business, screening 49% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.5300 SGD). The market is more pessimistic than our downside scenario.
  • Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

1.03 SGD 0.2668 SGD Fair Value 0.7300 SGD May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 0.2668 SGD – 1.03 SGD · fair‑value band 0.5300 SGD – 0.9100 SGD · the 0.4900 SGD price screens below the 0.7300 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

UNION GAS HOLDINGS LIMITED (1F2) currently trades at 0.4900 SGD, while our model-based Fair Value estimate is 0.7300 SGD, implying the stock looks roughly 49.0% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, UNION GAS HOLDINGS LIMITED generated revenue of 138M SGD at a net margin of 7.6%. Revenue grew 15.7% year over year. It earns a return on equity of 13.5%. The stock trades on a trailing P/E of 16.3. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.5300 SGD (bear case) to 0.9100 SGD (bull case); at 0.4900 SGD, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 63% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -20% fair-value upside, at 49%, 1F2 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF 0.4600 SGD 0.6800 SGD 0.9700 SGD 80
Residual Income 0.2100 SGD 0.2400 SGD 0.3800 SGD 76
Rev-Margin DCF 0.4200 SGD 0.6600 SGD 0.9800 SGD 74
All 24 models by family
DCF Models
FCF DCF 0.4700 SGD 0.7200 SGD 1.08 SGD 38
Owner Earnings 0.5300 SGD 0.8100 SGD 1.22 SGD 31
5Y Revenue Exit 0.4200 SGD 0.6600 SGD 0.9900 SGD 39
5Y EBITDA Exit 0.6300 SGD 1.10 SGD 1.68 SGD 41
5Y P/E Exit 0.5000 SGD 0.8300 SGD 1.21 SGD 38
10Y Revenue Exit 0.4200 SGD 0.6400 SGD 0.9600 SGD 36
10Y EBITDA Exit 0.5500 SGD 0.9100 SGD 1.45 SGD 37
10Y P/E Exit 0.4800 SGD 0.7500 SGD 1.12 SGD 35
Earnings-Based
Graham-Dodd 0.2300 SGD 1.02 SGD 1.40 SGD 54
Lynch FV 0.2700 SGD 0.3800 SGD 0.4900 SGD 50
PEG = 1.0 0.2700 SGD 0.3800 SGD 0.4900 SGD 46
EPV 0.2900 SGD 0.3200 SGD 0.3400 SGD 59
Multiples
P/E Multiple 0.5500 SGD 0.7300 SGD 0.9100 SGD 63
P/S Multiple 0.3900 SGD 0.5200 SGD 0.6500 SGD 58
P/B Multiple 0.4200 SGD 0.5600 SGD 0.7100 SGD 55
EV/EBIT 0.5700 SGD 0.7600 SGD 0.9400 SGD 53
EV/EBITDA 0.8200 SGD 1.08 SGD 1.34 SGD 54
EV/Revenue 0.3900 SGD 0.5500 SGD 0.7000 SGD 43
Asset-Based
NCAV (Graham) 0.1200 SGD 0.1600 SGD 0.2500 SGD 50
Growth DCF
Growth DCF 0.4600 SGD 0.6800 SGD 0.9700 SGD 80
Rev-Margin DCF 0.4200 SGD 0.6600 SGD 0.9800 SGD 74
Economic Profit
Residual Income 0.2100 SGD 0.2400 SGD 0.3800 SGD 76
ROIC Compounder 0.3000 SGD 0.3600 SGD 0.4400 SGD 72
Growth Earnings
Growth-Adj P/E 0.4400 SGD 0.6300 SGD 0.8200 SGD 68

Widest divergence: DCF Models (0.7500 SGD) versus Asset-Based (0.1600 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 138M SGD
Revenue growth (YoY) +15.7%
Net margin 7.6%
Return on equity 13.5%
Free cash flow 15.2M SGD FY2025
P/E ratio 16.3
More key figures
Operating margin 9.8%
EPS (TTM) 0.0300 SGD
Dividend yield 3.8%
EPS growth (YoY) -15.2%
Net debt 581K SGD FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 58 · Market factors (momentum, volatility) 71

Profitability 49
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Union Gas Holdings Limited, an investment holding company, provides fuel products in Singapore and Indonesia. It operates through three segments: Gas Fuel, Liquid Fuel, and Other Operations segments.

Full company description

Union Gas Holdings Limited, an investment holding company, provides fuel products in Singapore and Indonesia. It operates through three segments: Gas Fuel, Liquid Fuel, and Other Operations segments. The Gas Fuel segment engages in the bottling of liquified petroleum gas (LPG); provision of LPG and LPG-related products and services to dealers, domestic households, industrial, and commercial customers; sale and distribution of liquefied natural gas (LNG) and piped natural gas to commercial customers; and retail sale of compressed natural gas (CNG) through a CNG service station. Its Liquid Fuel segment is involved in the sale and distribution of diesel and petrol to industrial and commercial customers and to vehicles through service stations, as well as in the bulk sale of diesel. The Other Operations segment offers electric vehicle charging services and sells industrial gases. The company also provides products, such as stoves, hoods, rubber hoses, and regulators for LPG usage to primarily residential homes; commercial services, including in-house hot works, assembly of manifold system on-site, billing, ensuring continuous supply of LPG, licensing, and safety services; and small cylinders. Union Gas Holdings Limited was founded in 1974 and is based in Singapore.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

UNION GAS HOLDINGS LIMITED reported revenue of 138M SGD in FY2025 versus 123M SGD in FY2021, a compound +2.9%/yr. Reported net income was 10.5M SGD in FY2025, compounding −8.3%/yr from FY2021.

Growth Quality 86/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
138M SGD
Latest YoY
+9.9%
Avg. growth/yr (3Y) 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.
+0.8%
Avg. growth/yr (5Y) 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.
+9.9%
Avg. growth/yr (11Y) 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.
+10.8%
Revenue +2.9%/yr
FY21 123M SGD
FY22 135M SGD
FY23 129M SGD
FY24 126M SGD
FY25 138M SGD
Net income −8.3%/yr
FY21 14.9M SGD
FY22 5.2M SGD
FY23 12.2M SGD
FY24 12.5M SGD
FY25 10.5M SGD

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Cite: Fair Value Calculator (2026). "UNION GAS HOLDINGS LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/1F2

Peer Group

Specialty Retail · 223 stocks

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.

Quality Score 57 · Above median
Fair Value upside +49% · Top 25%
Return on equity (TTM) 14% · Above median
Return on assets 5% · Above median
Net margin (TTM) 8% · Top 25%
Operating margin (TTM) 10% · Top 25%
Revenue growth 16% · Top 25%
Dividend yield (TTM) 3.8% · Above median
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 16.3× · Cheaper than median
P/B 1.29× · Cheaper than median
P/S (TTM) 0.73× · Pricier than median
P/FCF 6.6× · Pricier than median
EV/EBITDA 4.6× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 99 · sector 30
FUTURE 79 · sector 23
PAST 54 · sector 26
HEALTH 96 · sector 94
DIVIDEND 76 · sector 58

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Alimentation Couche-Tard Inc ATD C$93.19 C$75.00 -20%
Casey's General Stores, Inc CASY $839.03 $398.90 -52%
Williams-Sonoma, Inc WSM $245.15 $162.63 -34%
Ulta Beauty, Inc ULTA $531.89 $475.40 -11%
DICK'S Sporting Goods, Inc DKS $202.66 $181.10 -11%
Best Buy Co BBY $83.00 $108.04 +30%
China Tourism Group 601888 ¥54.97 ¥40.40 -27%
Tractor Supply Company TSCO $36.43 $35.52 -2%
Murphy USA Inc MUSA $544.22 $423.35 -22%
Taiwan Mobile Co 3045 109.50 TWD 80.98 TWD -26%

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Frequently asked questions

Is UNION GAS HOLDINGS LIMITED (1F2) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.7300 SGD versus a price of 0.4900 SGD, about +49% (undervalued).
What is the fair value of 1F2?
Our model-based fair value for UNION GAS HOLDINGS LIMITED is 0.7300 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.4900 SGD.
What is the quality score of 1F2?
UNION GAS HOLDINGS LIMITED has a Quality Score of 57/100. 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 revenue of UNION GAS HOLDINGS LIMITED (1F2)?
UNION GAS HOLDINGS LIMITED reported trailing-twelve-month revenue of about 138M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1F2?
The net profit margin of UNION GAS HOLDINGS LIMITED is about 7.6%, meaning it keeps roughly 7.6% of revenue as net income. Based on the latest reported figures.
Does UNION GAS HOLDINGS LIMITED pay a dividend?
UNION GAS HOLDINGS LIMITED currently shows a dividend yield of about 3.80% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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