ISEC HEALTHCARE LTD. (40T) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of ISEC HEALTHCARE LTD. S$0.44, price S$0.31, upside +41.9%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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ISEC Healthcare Ltd., an investment holding company, provides medical care, consultancy, treatment, and surgery services in the field of ophthalmology in Singapore, Malaysia, and Myanmar. It operates in two segments, Specialised Health Services and General Health Services.
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ISEC Healthcare Ltd., an investment holding company, provides medical care, consultancy, treatment, and surgery services in the field of ophthalmology in Singapore, Malaysia, and Myanmar. It operates in two segments, Specialised Health Services and General Health Services. The company offers various services, including cataract and intraocular lens implant, refractive surgery, vitreous and retinal diseases, adult strabismus and paediatric ophthalmology, glaucoma diagnostics and therapeutics, medical retinal diseases, uveitis, optometry and orthoptics, oculoplastics, facial cosmetics, and aesthetic surgery, as well as cornea, external eye disease, and anterior segment. It also provides general medical and procedural treatment services; and operates eye care centers. The company was founded in 2007 and is headquartered in Singapore. ISEC Healthcare Ltd. operates as a subsidiary of Aier Eye International (Singapore) Pte. Ltd.
Stock analysis
ISEC HEALTHCARE LTD. (40T) currently trades at 0.3100 SGD, while our model-based Fair Value estimate is 0.4400 SGD, implying the stock looks roughly 29.5% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 0.4400 SGD per share, and 8 of the 16 models we run sit above the 0.3100 SGD price.
Bear case: the Dividend Discount group reads lowest at 0.0800 SGD, and 8 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.3100 SGD (bear) to 0.5800 SGD (bull), the price of 0.3100 SGD 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 57/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
ISEC HEALTHCARE LTD. reported revenue of 79.2M SGD in FY2025 versus 40.5M SGD in FY2021, a compound +18.3%/yr. Reported net income was 13.4M SGD in FY2025, compounding +18.0%/yr from FY2021.
Key figures
Market cap 178M SGD (≈ $139M) · P/E ratio 15.5 · P/S ratio 2.62 · EPS (TTM) 0.0200 SGD · Dividend yield 2.2% · Net margin 16.9% · Return on equity 13.0% · Return on assets (EBIT) 14.3%.
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 14% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 6% fair-value upside, at 42%, 40T screens cheaper than that median.
Fair Value models
Bear 0.3100 SGDFair Value 0.4400 SGDBull 0.5800 SGD
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 (0.0151 SGD 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. 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.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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+6.8%
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.
+8.0%
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.
+16.9%
Start year 2020 (pandemic). Over 10 years: +11.5% a year
Revenue growth 12 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.
+13.4%
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What shareholders gained per year (last 5 years) ⓘ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.
+15.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.1%
Dividend (yield on the price)2.2%
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.19% → 23%
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.Medical Care Facilities · 244 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+41.9% · Top 25%
Profitability
Return on equity (TTM)13.0% · Above median
Return on assets8.1% · Top 25%
Net margin (TTM)16.4% · Top 25%
Operating margin (TTM)20.0% · Top 25%
Growth and dividend
Revenue growth4.3% · Below median
Dividend yield (TTM)2.2% · Above median
Balance sheet
Debt / equity0.16× · Below median
Valuation Multiplesvs Medical Care Facilities median · lower = cheaper
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Is ISEC HEALTHCARE LTD. (40T) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 0.4400 SGD versus the last price from Sep 22, 2026 of 0.3100 SGD, about +42% upside (undervalued).
What is the fair value of 40T?
Our model-based fair value for ISEC HEALTHCARE LTD. is 0.4400 SGD (as of Sep 27, 2026), built from audited fundamentals. Last price (from Sep 22, 2026): 0.3100 SGD.
What is the quality score of 40T?
ISEC HEALTHCARE LTD. 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 price target for ISEC HEALTHCARE LTD. (40T)?
Our model-based price target is the fair value of 0.4400 SGD (as of Sep 27, 2026) from 16 valuation models. Cautious scenario 0.3100 SGD, optimistic scenario 0.5800 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the ISEC HEALTHCARE LTD. stock forecast for 2026?
Our models put fair value at 0.4400 SGD, about +42% upside versus the last price from Sep 22, 2026 of 0.3100 SGD (undervalued). Cautious scenario 0.3100 SGD, optimistic scenario 0.5800 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of ISEC HEALTHCARE LTD. (40T)?
ISEC HEALTHCARE LTD. reported trailing-twelve-month revenue of about 80.0M SGD (latest available figure, as of Sep 27, 2026).
Does ISEC HEALTHCARE LTD. pay a dividend?
ISEC HEALTHCARE LTD. currently shows a dividend yield of about 2.22% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of ISEC HEALTHCARE LTD. (40T)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ISEC HEALTHCARE LTD. it is 0.4400 SGD per share (as of Sep 27, 2026), against a price of 0.3100 SGD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is ISEC HEALTHCARE LTD. stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 40T trades below its calculated fair value: price 0.3100 SGD, fair value 0.4400 SGD, a gap of about +42% (undervalued). 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 40T?
No. The price is what the market pays today (0.3100 SGD); the fair value is what the company's own numbers justify (0.4400 SGD). For ISEC HEALTHCARE LTD. the two are 0.1300 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is ISEC HEALTHCARE LTD. worth?
The market values ISEC HEALTHCARE LTD. at about 178M SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.3100 SGD; our models calculate a fair value of 0.4400 SGD per share.
What do the bullish and bearish scenarios say about 40T?
Our models span a range for ISEC HEALTHCARE LTD.: cautious scenario 0.3100 SGD, base 0.4400 SGD, optimistic 0.5800 SGD per share (as of Sep 27, 2026, price 0.3100 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 40T?
ISEC HEALTHCARE LTD. trades at a price-to-earnings ratio of 15.5 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.4400 SGD is built from several models across several years. Other multiples: P/B 1.8, P/S 2.2, EV/EBITDA 8.7.
How solid is the balance sheet of ISEC HEALTHCARE LTD. (40T)?
Balance-sheet figures for ISEC HEALTHCARE LTD. (as of Sep 27, 2026): return on equity 13.0%, debt of 0.16 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 40T from its 52-week high?
ISEC HEALTHCARE LTD. trades at 0.3100 SGD, about 14% below its 52-week high of 0.3585 SGD and 7% above the low of 0.2900 SGD (as of Sep 22, 2026). Distance from the high says nothing about value: that is what the fair value of 0.4400 SGD is for.
Which stocks are comparable to ISEC HEALTHCARE LTD.?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Dr. Sulaiman Al Habib Medical Services Group, Tenet Healthcare Corporation, 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 ISEC HEALTHCARE LTD. stock attractive at the current price?
The data as of Sep 27, 2026: price 0.3100 SGD, calculated fair value 0.4400 SGD (+42%), Quality Score 57/100, from 16 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 40T calculated?
We run ISEC HEALTHCARE LTD. through 16 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 0.4400 SGD, 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 14.5 % above its aggregate fair value. ISEC HEALTHCARE LTD. currently trades 30 % below its own fair value, and the market average says nothing about that. 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 ISEC HEALTHCARE LTD. (40T)?
The latest price we hold is from Sep 22, 2026 and stands at 0.3100 SGD. Our model-based fair value is 0.4400 SGD, about +42% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ISEC HEALTHCARE LTD. right now?
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 quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (0.3100 SGD to 0.5800 SGD) leaves room in how you read the outcome.
Key figures of ISEC HEALTHCARE LTD.
How large is the market capitalisation of ISEC HEALTHCARE LTD. (40T)?
The market capitalisation of ISEC HEALTHCARE LTD. is 178M SGD (≈ $139M). 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 ISEC HEALTHCARE LTD. (40T)?
The price-to-sales ratio of ISEC HEALTHCARE LTD. is 2.62 (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 ISEC HEALTHCARE LTD. (40T)?
Earnings per share at ISEC HEALTHCARE LTD. are 0.0200 SGD (price ÷ EPS = P/E 15.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ISEC HEALTHCARE LTD. (40T)?
The dividend yield of ISEC HEALTHCARE LTD. is 2.2% (payout 34.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ISEC HEALTHCARE LTD. (40T)?
The net margin of ISEC HEALTHCARE LTD. is 16.9% (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 ISEC HEALTHCARE LTD. (40T)?
The return on equity (ROE) of ISEC HEALTHCARE LTD. is 13.0% (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 ISEC HEALTHCARE LTD. (40T)?
On an EBIT basis the return on assets of ISEC HEALTHCARE LTD. is 14.3% (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 ISEC HEALTHCARE LTD. (40T)?
The operating margin of ISEC HEALTHCARE LTD. is 20.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ISEC HEALTHCARE LTD. (40T)?
Revenue at ISEC HEALTHCARE LTD. is growing +4.3% versus a year earlier (3y avg +8.0%). 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 ISEC HEALTHCARE LTD. (40T)?
Earnings per share at ISEC HEALTHCARE LTD. are growing −8.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ISEC HEALTHCARE LTD. (40T) generate?
The free cash flow of ISEC HEALTHCARE LTD. is −640K SGD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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