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TUNG LOK RESTAURANTS(2000) LTD (540) Fair Value & Analysis

Consumer Cyclical · SG · Market cap 14.8M SGD

TL TUNG LOK RESTAURANTS(2000) LTD 540 · SG
Price0.0790 SGD
Fair Value0.0583 SGD
Upside-26.2%
Quality62/100
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Mixed Growth
Loss-making · -2.1% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/12)
Narrow moat 10/100
Evidence: Medium Range 0.0512 SGD – 0.0654 SGD Share as image

Fair value as of: Aug 13, 2026

From 11 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 0.0584 SGD to 0.0583 SGD (−0.1%) since Aug 8, 2026. Share price +46.3% over the past month.

A solid business, but screening 26% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.0654 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

0.1679 SGD 0.0540 SGD Fair Value 0.0583 SGD Apr 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 0.0540 SGD – 0.1679 SGD · fair‑value band 0.0512 SGD – 0.0654 SGD · the 0.0790 SGD price screens above the 0.0583 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

TUNG LOK RESTAURANTS(2000) LTD (540) currently trades at 0.0790 SGD, while our model-based Fair Value estimate is 0.0583 SGD, implying the stock looks roughly 26.2% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Cyclical 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, TUNG LOK RESTAURANTS(2000) LTD generated revenue of 79.6M SGD at a net margin of -2.1%. Revenue declined 2.5% year over year. It earns a return on equity of -15.5%. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.0512 SGD (bear case) to 0.0654 SGD (bull case); at 0.0790 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 23% below its 52-week high and 84% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -51% fair-value upside, at -26%, 540 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 0.2400 SGD 0.2800 SGD 0.3500 SGD 80
Rev-Margin DCF 0.2500 SGD 0.3400 SGD 0.4600 SGD 74
EV/EBITDA 0.3000 SGD 0.3800 SGD 0.4600 SGD 54
All 11 models by family
DCF Models
FCF DCF 0.2300 SGD 0.2800 SGD 0.3600 SGD 38
Owner Earnings 0.2100 SGD 0.2600 SGD 0.3200 SGD 31
5Y Revenue Exit 0.2500 SGD 0.3400 SGD 0.4700 SGD 39
5Y EBITDA Exit 0.2500 SGD 0.3300 SGD 0.4500 SGD 41
10Y Revenue Exit 0.2400 SGD 0.2900 SGD 0.3500 SGD 36
10Y EBITDA Exit 0.2400 SGD 0.2900 SGD 0.3500 SGD 37
Multiples
EV/EBITDA 0.3000 SGD 0.3800 SGD 0.4600 SGD 54
EV/Revenue 0.2800 SGD 0.3800 SGD 0.4800 SGD 43
Asset-Based
NCAV (Graham) 0.0200 SGD 0.0300 SGD 0.0400 SGD 50
Growth DCF
Growth DCF 0.2400 SGD 0.2800 SGD 0.3500 SGD 80
Rev-Margin DCF 0.2500 SGD 0.3400 SGD 0.4600 SGD 74

Widest divergence: Multiples (0.3800 SGD) versus Asset-Based (0.0300 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 79.6M SGD
Revenue growth (YoY) -2.5%
Net margin -2.1%
Return on equity -15.5%
Free cash flow 7.1M SGD FY2026
Operating margin 4.0%
More key figures
EPS (TTM) -0.0100 SGD
EPS growth (YoY) +1.9%

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 48

Profitability 42
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 49
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

Tung Lok Restaurants (2000) Ltd, together with its subsidiaries, owns, operates, and manages restaurants in Singapore, Indonesia, Japan, Vietnam, and the Philippines. It operates in four segments: Restaurant, Catering, Manufacturing, and Others.

Full company description

Tung Lok Restaurants (2000) Ltd, together with its subsidiaries, owns, operates, and manages restaurants in Singapore, Indonesia, Japan, Vietnam, and the Philippines. It operates in four segments: Restaurant, Catering, Manufacturing, and Others. The company also manufactures fresh dim sum, rice dumplings, mooncakes, and Chinese New Year pastries and festive food under the HOME FIESTA brand. In addition, it engages in central kitchen support function business, as well as sells original equipment manufacturer products. Further, the company provides franchising and management consultancy services. It exports its products. Tung Lok Restaurants (2000) Ltd was founded in 1980 and is based in Singapore.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

TUNG LOK RESTAURANTS(2000) LTD reported revenue of 79.6M SGD in FY2026 versus 52.2M SGD in FY2022, a compound +11.1%/yr. Reported net income was −1.7M SGD in FY2026.

Growth Quality 42/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
79.6M SGD
Latest YoY
−3.1%
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.
−2.6%
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.
+5.9%
Avg. growth/yr (12Y) 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.
+0.2%
Revenue +11.1%/yr
FY22 52.2M SGD
FY23 86.2M SGD
FY24 82.1M SGD
FY25 82.1M SGD
FY26 79.6M SGD
Net income
FY22 −1.8M SGD
FY23 4.2M SGD
FY24 2.0M SGD
FY25 −1.8M SGD
FY26 −1.7M SGD

540 screens 26% overvalued. Compare with McDonald's Corporation →

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Cite: Fair Value Calculator (2026). "TUNG LOK RESTAURANTS(2000) LTD Fair Value". https://www.fairvalue-calculator.com/stock/540

Peer Group

Restaurants · 228 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 62 · Above median
Fair Value upside −24% · Below median
Return on assets -1% · Bottom 25%
Net margin (TTM) -2% · Below median
Operating margin (TTM) 4% · Above median
Revenue growth -3% · Below median
Dividend yield (TTM) 14.3% · Top 25%

Valuation Multiples vs Restaurants median · lower = cheaper

P/B 1.04× · Cheaper than median
P/S (TTM) 0.15× · Cheaper than 75% of peers
P/FCF 1.6× · 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 1 · sector 20
FUTURE 0 · sector 19
PAST 0 · sector 14
HEALTH 100 · sector 97
DIVIDEND 100 · sector 71

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 Restaurants stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
McDonald's Corporation MCDS C$24.01 C$10.84 -55%
Starbucks Corporation SBUX $108.49 $35.83 -67%
Chipotle Mexican Grill, Inc CMG $32.00 $17.92 -44%
Yum! Brands, Inc YUM $150.34 $58.17 -61%
Restaurant Brands International Inc QSR C$104.50 C$36.37 -65%
Darden Restaurants, Inc DRI $218.90 $173.68 -21%
Yum China Holdings YUMC $47.90 $54.27 +13%
Texas Roadhouse, Inc TXRH $214.28 $104.89 -51%
Dutch Bros Inc BROS $51.02 $12.80 -75%
Domino's Pizza, Inc DPZ $353.72 $227.31 -36%

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Frequently asked questions

Is TUNG LOK RESTAURANTS(2000) LTD (540) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.0583 SGD versus a price of 0.0790 SGD, about −26% (overvalued).
What is the fair value of 540?
Our model-based fair value for TUNG LOK RESTAURANTS(2000) LTD is 0.0583 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.0790 SGD.
What is the quality score of 540?
TUNG LOK RESTAURANTS(2000) LTD has a Quality Score of 62/100. 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 TUNG LOK RESTAURANTS(2000) LTD (540)?
TUNG LOK RESTAURANTS(2000) LTD reported trailing-twelve-month revenue of about 79.6M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 540?
The net profit margin of TUNG LOK RESTAURANTS(2000) LTD is about -2.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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