LHN LIMITED (41O) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of LHN LIMITED S$0.78, price S$0.54, upside +44.4%, quality 55 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 Oct 2, 2026.
How to read this chart
60‑month range 0.1900 SGD – 0.9888 SGD · fair‑value band 0.5900 SGD – 1.06 SGD · the 0.5400 SGD price screens below the 0.7800 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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LHN Limited, an investment holding company, engages in space optimization, property development, facilities management services, and energy businesses in Singapore, Hong Kong, Myanmar, Indonesia, and Cambodia. It operates through Industrial, Commercial, Residential, Property Development, Facilities Management, and Energy segments.
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LHN Limited, an investment holding company, engages in space optimization, property development, facilities management services, and energy businesses in Singapore, Hong Kong, Myanmar, Indonesia, and Cambodia. It operates through Industrial, Commercial, Residential, Property Development, Facilities Management, and Energy segments. The company offers integrated facilities management services, such as outcome-based cleaning services, disinfecting services, integrated pest control, building improvement, landscaping services, and smart technology; car park management solutions comprising electronic parking systems, centralized call center services, car park layout design and consultancy services, and management and administration of short term and season parking; and energy management services. It also acquires, develops, and/or sells properties, as well as invests in properties. In addition, the company redesigns unused, old, and underutilized industrial buildings, factories, warehouses, and land for open storage; traditional offices, GreenHub suited offices, and other commercial spaces comprising recreational space, sports facilities, and children-enhanced spaces; residential properties, which include corporate housing, co-living spaces, serviced apartments, hostels, and dormitories for corporates and individuals; and offers storage solutions for e-commerce owners, SMEs, start-ups, and individuals. Further, it engages in design, engineering, procurement, construction, installation, operation, maintenance, and sale of solar photovoltaic electric power generating facilities; retails electricity; and installs, operates, and maintains electric vehicle charging solutions; as well as operates as general contractors. The company was founded in 1991 and is headquartered in Singapore. LHN Limited is a subsidiary of Fragrance Ltd.
Stock analysis
LHN LIMITED (41O) currently trades at 0.5400 SGD, while our model-based Fair Value estimate is 0.7800 SGD, implying the stock looks roughly 30.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 1.30 SGD per share, and 12 of the 14 models we run sit above the 0.5400 SGD price.
Bear case: the Asset-Based group reads lowest at 0.4100 SGD, and 2 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.5900 SGD (bear) to 1.06 SGD (bull), the price of 0.5400 SGD sits below 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 55/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
LHN LIMITED reported revenue of 131M SGD in FY2025 versus 121M SGD in FY2021, a compound +2.1%/yr. Reported net income was 20.1M SGD in FY2025, compounding −8.0%/yr from FY2021.
Key figures
Market cap 231M SGD (≈ $180M) · P/E ratio 10.8 · P/S ratio 1.65 · EPS (TTM) 0.0500 SGD · Dividend yield 3.7% · Net margin 15.3% · Return on equity 9.1% · Return on assets (EBIT) 5.5%.
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 40% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at 44%, 41O screens cheaper than that median.
Fair Value models
Bear 0.5900 SGDFair Value 0.7800 SGDBull 1.06 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 12 months old). Earnings retained since then (0.0300 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+8.6%
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.
+5.6%
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.
−0.4%
Start year 2020 (pandemic). Over 10 years: +3.2% a year
Revenue growth 11 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.
+3.4%
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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.
−1.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.8%
Dividend (yield on the price)3.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−4.8% vs 1.1%, slowing
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.34% → 29%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−7.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about −9.6% a year for the price and +2.1% for the forecasts.
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.Real Estate Services · 520 stocks
Beats the industry median on 11/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+44.4% · Above median
Profitability
Return on equity (TTM)9.1% · Above median
Return on assets2.7% · Above median
Net margin (TTM)18.6% · Above median
Operating margin (TTM)30.8% · Above median
Growth and dividend
Revenue growth−13.7% · Bottom 25%
Dividend yield (TTM)3.7% · Above median
Balance sheet
Debt / equity0.84× · Above median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "LHN LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/41O
Frequently asked questions
Is LHN LIMITED (41O) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 0.7800 SGD versus a price of 0.5400 SGD, about +44% upside (undervalued).
What is the fair value of 41O?
Our model-based fair value for LHN LIMITED is 0.7800 SGD (as of Oct 2, 2026), built from audited fundamentals. The current price: 0.5400 SGD.
What is the quality score of 41O?
LHN LIMITED has a Quality Score of 55/100. 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 LHN LIMITED (41O)?
Our model-based price target is the fair value of 0.7800 SGD (as of Oct 2, 2026) from 14 valuation models. Cautious scenario 0.5900 SGD, optimistic scenario 1.06 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the LHN LIMITED stock forecast for 2026?
Our models put fair value at 0.7800 SGD, about +44% upside versus a price of 0.5400 SGD (undervalued). Cautious scenario 0.5900 SGD, optimistic scenario 1.06 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of LHN LIMITED (41O)?
LHN LIMITED reported trailing-twelve-month revenue of about 122M SGD (latest available figure, as of Oct 2, 2026).
Does LHN LIMITED pay a dividend?
LHN LIMITED currently shows a dividend yield of about 3.70% relative to its recent price (as of Oct 2, 2026).
What growth is priced into LHN LIMITED (41O)?
For today's price to be fair in a discounted-cash-flow model, LHN LIMITED would have to grow free cash flow by -7.8 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.4 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of 41O use?
Our models discount LHN LIMITED at 11.0 %: a base by market capitalisation (micro), damped by beta 0.32, country premium for Singapore. 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 LHN LIMITED that is -7.8 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has LHN LIMITED (41O) delivered so far?
Over the past 5 years revenue at LHN LIMITED grew -0.4 % a year. The price currently implies -7.8 % 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 LHN LIMITED (41O) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into LHN LIMITED (-7.8 % 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 LHN LIMITED (41O)?
The free-cash-flow yield on the price is 27.78 %: that much free cash flow LHN LIMITED produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of LHN LIMITED (41O)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LHN LIMITED it is 0.7800 SGD per share (as of Oct 2, 2026), against a price of 0.5400 SGD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is LHN LIMITED stock overvalued or undervalued in 2026?
As of Oct 2, 2026, 41O trades below its calculated fair value: price 0.5400 SGD, fair value 0.7800 SGD, a gap of about +44% (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 41O?
No. The price is what the market pays today (0.5400 SGD); the fair value is what the company's own numbers justify (0.7800 SGD). For LHN LIMITED the two are 0.2400 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is LHN LIMITED worth?
The market values LHN LIMITED at about 231M SGD (market capitalisation, as of Oct 2, 2026). Per share that is 0.5400 SGD; our models calculate a fair value of 0.7800 SGD per share.
What do the bullish and bearish scenarios say about 41O?
Our models span a range for LHN LIMITED: cautious scenario 0.5900 SGD, base 0.7800 SGD, optimistic 1.06 SGD per share (as of Oct 2, 2026, price 0.5400 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 41O?
LHN LIMITED trades at a price-to-earnings ratio of 10.8 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.7800 SGD is built from several models across several years. Other multiples: PEG 2.8, P/B 0.9, P/S 1.9, EV/EBITDA 10.5.
What is the PEG ratio of 41O?
The PEG ratio of LHN LIMITED is 2.82 (P/E divided by earnings growth, as of Oct 2, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of LHN LIMITED (41O)?
Balance-sheet figures for LHN LIMITED (as of Oct 2, 2026): return on equity 9.1%, debt of 0.84 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 41O from its 52-week high?
LHN LIMITED trades at 0.5400 SGD, about 40% below its 52-week high of 0.9040 SGD and 4% above the low of 0.5200 SGD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 0.7800 SGD is for.
Which stocks are comparable to LHN LIMITED?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, KE Holdings, Swire Properties Limited, 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 LHN LIMITED stock attractive at the current price?
The data as of Oct 2, 2026: price 0.5400 SGD, calculated fair value 0.7800 SGD (+44%), Quality Score 55/100, from 14 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 41O calculated?
We run LHN LIMITED through 14 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 0.7800 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 15.1 % above its aggregate fair value. LHN LIMITED currently trades 31 % 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 LHN LIMITED (41O)?
The closing price on Oct 2, 2026 was 0.5400 SGD. Our model-based fair value is 0.7800 SGD, about +44% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LHN LIMITED right now?
The price is below even our cautious bear case (0.5900 SGD). The market is more pessimistic than our downside scenario. 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 (55/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of LHN LIMITED
How large is the market capitalisation of LHN LIMITED (41O)?
The market capitalisation of LHN LIMITED is 231M SGD (≈ $180M). 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 LHN LIMITED (41O)?
The price-to-sales ratio of LHN LIMITED is 1.65 (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 LHN LIMITED (41O)?
Earnings per share at LHN LIMITED are 0.0500 SGD (price ÷ EPS = P/E 10.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of LHN LIMITED (41O)?
The dividend yield of LHN LIMITED is 3.7% (payout 40.0%). 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 LHN LIMITED (41O)?
The net margin of LHN LIMITED is 15.3% (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 LHN LIMITED (41O)?
The return on equity (ROE) of LHN LIMITED is 9.1% (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 LHN LIMITED (41O)?
On an EBIT basis the return on assets of LHN LIMITED is 5.5% (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 LHN LIMITED (41O)?
The operating margin of LHN LIMITED is 30.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LHN LIMITED (41O)?
Revenue at LHN LIMITED is growing −13.7% versus a year earlier (3y avg +5.6%). 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 LHN LIMITED (41O)?
Earnings per share at LHN LIMITED are growing +16.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does LHN LIMITED (41O) carry?
The net debt of LHN LIMITED is 187M SGD (fiscal year 2025, ≈ 2.9 yrs of FCF). 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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