SHS HOLDINGS LTD. (566) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of SHS HOLDINGS LTD. S$0.18, price S$0.12, upside +53.9%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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SHS HOLDINGS LTD.
566 · SGCheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.
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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 27, 2026.
How to read this chart
60‑month range 0.1083 SGD – 0.1485 SGD · fair‑value band 0.1100 SGD – 0.2600 SGD · the 0.1170 SGD price screens below the 0.1800 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Company profile
SHS Holdings Ltd., an investment holding company, engages in grit blasting and painting activities in Singapore, Malaysia, Vietnam, Indonesia, the People's Republic of China, Australia, and New Zealand.
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SHS Holdings Ltd., an investment holding company, engages in grit blasting and painting activities in Singapore, Malaysia, Vietnam, Indonesia, the People's Republic of China, Australia, and New Zealand. The Engineering & Construction segment designs, engineers, and constructs steel, aluminium, and glass structures; and offers design and construction services, including major upgrading works. The Corrosion Prevention segment is involved in blasting and coating raw materials, such as steel plates, steel structures comprising beams and pipes, and fabricated modules; and grit blasting and paint coating for internal surfaces of chemical tankers and barges, as well as floating, production, storage, and offload (FPSO) vessels to marine, oil and gas, civil construction, and infrastructure industries. This segment also engages in the on-site blasting and coating of ship or tanker hulls, oil rigs, and FPSO modules or structures; and design, supply, and distribution of corrosion prevention systems, machinery, equipment, materials, and products. The Solar Energy segment engages in the engineering, procurement, and construction of solar power projects; solar power project development; energy-efficient lighting systems; provision of electrical supply and installation services for lightings and induction lamps in commercial and industrial buildings; and design and installation of air conditioning and mechanical ventilation systems for residential, industrial, and commercial users; and engineering and project management for electrical works. The Trading of Commodities segment promotes and sells metals and aluminium-related products. The Others segment provides property development, and investments services. It also trades and manufactures blasting and painting equipment and electrical wiring accessories. The company was formerly known as See Hup Seng Limited and changed its name to SHS Holdings Ltd. in October 2014. SHS Holdings Ltd. was founded in 1971 and is based in Singapore.
Stock analysis
SHS HOLDINGS LTD. (566) currently trades at 0.1170 SGD, while our model-based Fair Value estimate is 0.1800 SGD, implying the stock looks roughly 35.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 0.1800 SGD per share, and 6 of the 7 models we run sit above the 0.1170 SGD price.
Bear case: the Multiples group reads lowest at 0.1100 SGD, and 1 of the 7 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.1100 SGD (bear) to 0.2600 SGD (bull), the price of 0.1170 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 40/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
SHS HOLDINGS LTD. reported revenue of 262M SGD in FY2025 versus 55.2M SGD in FY2021, a compound +47.6%/yr. Reported net income was −13.1M SGD in FY2025.
Key figures
Market cap 71.4M SGD (≈ $55.7M) · P/S ratio 0.28 · EPS (TTM) −0.0200 SGD · Dividend yield 1.9% · Net margin −5.0% · Return on equity −9.4% · Return on assets (EBIT) 0.4% · Operating margin −5.3%.
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 12% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −57% fair-value upside, at 54%, 566 screens cheaper than that median.
Fair Value models
All 7 models by family
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Set up alert →Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 46
Revenue & earnings trend
Growth Forecast
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Compare SHS HOLDINGS LTD. with another stock
Price, fair value, quality and upside side by side.
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.Metal Fabrication · 252 stocks
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Valuation of the Singapore market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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| SINOMACH HEAVY EQUIPMENT GROUP CO.,LTD researches, 601399 | ¥3.15 | ¥1.35 | −57% |
| JL Mag Rare-Earth Co 300748 | ¥25.29 | ¥5.04 | −80% |
| Western Superconducting Technologies Co 688122 | ¥51.33 | ¥24.43 | −52% |
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