Swang Chai Chuan Ltd. (2321) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Swang Chai Chuan Ltd. HK$0.49, price HK$0.52, upside -5.8%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
49‑month range HK$0.3014 – HK$2.03 · fair‑value band HK$0.4300 – HK$0.5400 · the HK$0.5200 price screens above the HK$0.4900 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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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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Swang Chai Chuan Limited, an investment holding company, engages in the distribution and sale of food and beverage products in Malaysia. 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$0.5200, while our model-based Fair Value estimate is HK$0.4900, implying the stock looks roughly 6.1% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$0.6100 per share, and 7 of the 17 models we run sit above the HK$0.5200 price.
Bear case: the Dividend Discount group reads lowest at HK$0.0800, and 10 of the 17 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.4300 (bear) to HK$0.5400 (bull), the price of HK$0.5200 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$520M (≈ $66.3M) · P/E ratio 8.3 · P/S ratio 0.30 · EPS (TTM) HK$0.0200 · Net margin 3.6% · Return on equity 12.7% · Return on assets (EBIT) 11.4% · Operating margin 3.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 39% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 6% fair-value upside, at −6%, 2321 screens richer than that median.
Fair Value models
Bear HK$0.4300Fair Value HK$0.4900Bull HK$0.5400
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0147 per share) are deliberately not added.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 ⓘEvidence = 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.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%
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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%
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.Grocery Stores · 79 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside−6% · Below median
Profitability
Return on equity (TTM)13% · Above median
Return on assets6% · Above median
Net margin (TTM)4% · Above median
Operating margin (TTM)4% · Below median
Growth and dividend
Revenue growth5% · Above median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.16× · Below median
Valuation Multiplesvs Grocery Stores median · lower = cheaper
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Is Swang Chai Chuan Ltd. (2321) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$0.4900 versus a price of HK$0.5200, about −6% upside (fairly valued).
What is the fair value of 2321?
Our model-based fair value for Swang Chai Chuan Ltd. is HK$0.4900 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$0.5200.
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$0.4900 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario HK$0.4300, optimistic scenario HK$0.5400. 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$0.4900, about −6% upside versus a price of HK$0.5200 (fairly valued). Cautious scenario HK$0.4300, optimistic scenario HK$0.5400. 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 933M MYR (latest available figure, as of Sep 24, 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$0.4900 per share (as of Sep 24, 2026), against a price of HK$0.5200. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Swang Chai Chuan Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2321 trades above its calculated fair value: price HK$0.5200, fair value HK$0.4900, 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$0.5200); the fair value is what the company's own numbers justify (HK$0.4900). 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$520M (market capitalisation, as of Sep 24, 2026). Per share that is HK$0.5200; our models calculate a fair value of HK$0.4900 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$0.4300, base HK$0.4900, optimistic HK$0.5400 per share (as of Sep 24, 2026, price HK$0.5200). 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 8.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$0.4900 is built from several models across several years. Other multiples: P/B 0.2, P/S 0.1, EV/EBITDA 1.7.
How solid is the balance sheet of Swang Chai Chuan Ltd. (2321)?
Balance-sheet figures for Swang Chai Chuan Ltd. (as of Sep 24, 2026): return on equity 12.7%, 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$0.5200, about 6% below its 52-week high of HK$0.5507 and 39% above the low of HK$0.3737 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.4900 is for.
Which stocks are comparable to Swang Chai Chuan Ltd.?
From the same area (Consumer Defensive) we also value Loblaw Companies Limited, Koninklijke Ahold Delhaize N.V, The Kroger Co, Woolworths Group, 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 Sep 24, 2026: price HK$0.5200, calculated fair value HK$0.4900 (−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 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$0.4900, 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 13.2 % 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 Sep 24, 2026 was HK$0.5200. Our model-based fair value is HK$0.4900, about −6% upside (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$520M (≈ $66.3M). 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 Swang Chai Chuan Ltd. (2321)?
The price-to-sales ratio of Swang Chai Chuan Ltd. is 0.30 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Swang Chai Chuan Ltd. (2321)?
Earnings per share at Swang Chai Chuan Ltd. are HK$0.0200 (price ÷ EPS = P/E 8.3). Earnings per share over the last twelve months: total profit spread across every single share.
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 12.7% (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 3.9% (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 +5.4% 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 −9.7% 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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