ZICO HOLDINGS INC. (40W) Fair Value & Analysis
Industrials · SG · Market cap 20.6M SGD
Fair value as of: Aug 13, 2026
From 10 valuation models · updated 4 days ago
Fair value updated Aug 13, 2026, revised from 0.0480 SGD to 0.0486 SGD (+1.2%) since Aug 8, 2026. Share price +14.0% over the past month.
Below-average quality, and screening another 15% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (0.0550 SGD). The favourable scenario is already priced in.
- Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
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 0.0283 SGD – 0.1102 SGD · fair‑value band 0.0422 SGD – 0.0550 SGD · the 0.0570 SGD price screens above the 0.0486 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
ZICO HOLDINGS INC. (40W) currently trades at 0.0570 SGD, while our model-based Fair Value estimate is 0.0486 SGD, implying the stock looks roughly 14.7% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, ZICO HOLDINGS INC. generated revenue of 14.3M SGD at a net margin of 2.1%. Revenue declined 1.2% year over year. It earns a return on equity of 2.1%. Net debt stands at 3.6M SGD. Fundamentals as of Aug 13, 2026
Our scenario range runs from 0.0422 SGD (bear case) to 0.0550 SGD (bull case); at 0.0570 SGD, the current price sits above 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 34% below its 52-week high and 101% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -38% fair-value upside, at -15%, 40W 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.
All 10 models by family
Widest divergence: DCF Models (0.0700 SGD) versus Earnings-Based (0.0200 SGD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 54
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
ZICO Holdings Inc., an investment holding company, provides multidisciplinary professional services in Singapore, Malaysia, Thailand, Indonesia, China, Hong Kong, the United States, and internationally. It operates in two segments, Advisory and Transactional Services; and Management, Support Services and Licensing Services.
Full company description
ZICO Holdings Inc., an investment holding company, provides multidisciplinary professional services in Singapore, Malaysia, Thailand, Indonesia, China, Hong Kong, the United States, and internationally. It operates in two segments, Advisory and Transactional Services; and Management, Support Services and Licensing Services. The company offers legal, Shariah advisory, trust, incorporation and corporate secretarial, investor, intellectual property, wealth management, fund management, external asset management, corporate finance advisory, insourcing and consultancy, legacy management, and immigration services. It also provides strategic advisory, market intelligence, and risk management services; and information technology, human resource, training, and corporate communications services, as well as accounting and finance. In addition, the company licenses the ZICO trademarks, as well as offers corporate and related consulting, legal advisory, resourcing and advisory, share registration, business support, asset and wealth management, and marketing services. Further, it provides trustee, fiduciary, and custody; tax administration, payroll, and accounting support; insourcing and outsourcing; business and management consultancy; and capital markets services, as well as leases non-financial intangible assets. The company serves governments and government-linked companies, law firms, private and public companies, small and medium enterprises, multinational corporations, multi-ASEAN, family offices, and high-net-worth individuals. The company was formerly known as ZICOlaw Holdings Inc. and changed its name to ZICO Holdings Inc. in April 2014. ZICO Holdings Inc. was incorporated in 2010 and is based in Singapore.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
ZICO HOLDINGS INC. reported revenue of 14.3M SGD in FY2025 versus 69.0M SGD in FY2021, a compound −32.5%/yr. Reported net income was 1.0M SGD in FY2025, compounding +3.9%/yr from FY2021.
40W screens 15% overvalued. Compare with Cintas Corporation →
Peer Group
Specialty Business Services · 248 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.
Valuation Multiples vs Specialty Business Services median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cintas Corporation CTAS | $199.52 | $95.19 | -52% |
| RELX PLC RELX | $34.55 | $32.24 | -7% |
| Thomson Reuters Corporation TRI | C$142.85 | C$70.40 | -51% |
| Copart, Inc CPRT | $28.99 | $28.59 | -1% |
| Global Payments Inc GPN | $88.53 | $68.98 | -22% |
| RB Global, Inc RBA | C$120.52 | C$49.14 | -59% |
| Brambles Limited BXB | A$19.89 | A$12.28 | -38% |
| UL Solutions Inc ULS | $76.68 | $33.62 | -56% |
| Aramark ARMK | $60.35 | $13.18 | -78% |
| ISS A/S ISS | kr 288.20 | kr 251.13 | -13% |
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Frequently asked questions
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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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