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VICPLAS INTERNATIONAL LTD (569) Fair Value & Analysis

Healthcare · SG · Market cap 37.8M SGD

VI VICPLAS INTERNATIONAL LTD 569 · SG
Price0.0800 SGD
Fair Value0.0630 SGD
Upside-21.3%
Quality50/100
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Mixed Growth
Loss-making · -4.7% net margin
Low debt · negative free cash flow
Ranks above peers (8/12)
Narrow moat 2/100
Evidence: Low Range 0.0490 SGD – 0.0770 SGD Share as image

Fair value as of: Aug 13, 2026

From 2 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 0.0638 SGD to 0.0630 SGD (−1.2%) since Aug 8, 2026. Share price +9.6% over the past month.

A solid business, but screening 21% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.0770 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

0.2500 SGD 0.0700 SGD Fair Value 0.0630 SGD May 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 0.0700 SGD – 0.2500 SGD · fair‑value band 0.0490 SGD – 0.0770 SGD · the 0.0800 SGD price screens above the 0.0630 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

VICPLAS INTERNATIONAL LTD (569) currently trades at 0.0800 SGD, while our model-based Fair Value estimate is 0.0630 SGD, implying the stock looks roughly 21.3% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Healthcare 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: low).

Over the trailing twelve months, VICPLAS INTERNATIONAL LTD generated revenue of 128M SGD at a net margin of -4.7%. Revenue grew 13.1% year over year. It earns a return on equity of -8.4%. Net debt stands at 14.0M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.0490 SGD (bear case) to 0.0770 SGD (bull case); at 0.0800 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 21% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -33% fair-value upside, at -21%, 569 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
EV/EBITDA 0.0700 SGD 0.1000 SGD 0.1200 SGD 54
NCAV (Graham) 0.0700 SGD 0.1000 SGD 0.1500 SGD 50
All 2 models by family
Multiples
EV/EBITDA 0.0700 SGD 0.1000 SGD 0.1200 SGD 54
Asset-Based
NCAV (Graham) 0.0700 SGD 0.1000 SGD 0.1500 SGD 50

Widest divergence: Multiples (0.1000 SGD) versus Multiples (0.1000 SGD). Highest evidence: EV/EBITDA (54).

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Key figures & financial health

Revenue (TTM) 128M SGD
Revenue growth (YoY) +13.1%
Net margin -4.7%
Return on equity -8.4%
Free cash flow −7.8M SGD FY2024
Operating margin -3.1%
More key figures
EPS (TTM) -0.0100 SGD
EPS growth (YoY) +20.1%
Net debt 14.0M SGD FY2024

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

Quality Score breakdown

Overall quality 50/100

Of which business quality 53 · Market factors (momentum, volatility) 40

Profitability 34
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 26
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

Vicplas International Ltd, an investment holding company, engages in the medical devices, and pipes and pipe fittings businesses in Singapore, Malaysia, the People's Republic of China, the United Kingdom, and Mexico.

Full company description

Vicplas International Ltd, an investment holding company, engages in the medical devices, and pipes and pipe fittings businesses in Singapore, Malaysia, the People's Republic of China, the United Kingdom, and Mexico. The company manufactures, trades, and distributes piping systems for various industries, including waste and potable water systems for residential homes, schools, and commercial and industrial buildings; underground electrical and internal building wire piping systems; and data and signal line piping systems by telecommunications companies. It also designs, develops, manufactures, and assembles sterile and non-sterile medical devices. Vicplas International Ltd was founded in 1993 and is based in Singapore. Vicplas International Ltd is a subsidiary of Venner Capital S.A.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

VICPLAS INTERNATIONAL LTD reported revenue of 102M SGD in FY2024 versus 88.8M SGD in FY2020, a compound +3.6%/yr. Reported net income was −1.4M SGD in FY2024.

Growth Quality 9/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
102M SGD
Latest YoY
−20.8%
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.
−3.5%
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.
+5.0%
Avg. growth/yr (10Y) 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.
+4.7%
Revenue +3.6%/yr
FY20 88.8M SGD
FY21 114M SGD
FY22 131M SGD
FY23 129M SGD
FY24 102M SGD
Net income
FY20 5.0M SGD
FY21 10.4M SGD
FY22 8.8M SGD
FY23 4.2M SGD
FY24 −1.4M SGD

569 screens 21% overvalued. Compare with Abbott Laboratories, →

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Cite: Fair Value Calculator (2026). "VICPLAS INTERNATIONAL LTD Fair Value". https://www.fairvalue-calculator.com/stock/569

Peer Group

Medical Devices · 353 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 53 · Above median
Fair Value upside −25% · Above median
Return on assets -2% · Below median
Net margin (TTM) -5% · Below median
Operating margin (TTM) -3% · Below median
Revenue growth 13% · Above median
Dividend yield (TTM) 6.1% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Medical Devices median · lower = cheaper

P/B 0.40× · Cheaper than 75% of peers
P/S (TTM) 0.23× · Cheaper than 75% of peers
EV/EBITDA 11.1× · 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 0 · sector 0
FUTURE 66 · sector 30
PAST 0 · sector 6
HEALTH 100 · sector 97
DIVIDEND 100 · sector 38

VALUE 0: the price sits above our fair-value range.

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

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $110.91 $74.79 -33%
Stryker Corporation SYK $347.21 $186.28 -46%
Medtronic plc MDT $90.76 $65.57 -28%
Boston Scientific Corporation BSX $51.42 $38.44 -25%
Edwards Lifesciences Corporation EW $93.05 $41.02 -56%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥153.60 ¥147.63 -4%
Shanghai United Imaging Healthcare Co 688271 ¥110.50 ¥43.60 -61%
Demant A/S DEMANT kr 289.60 kr 161.17 -44%
Getinge AB GETIB kr 239.30 kr 192.14 -20%
Sectra AB SECTB kr 280.00 kr 66.81 -76%

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Frequently asked questions

Is VICPLAS INTERNATIONAL LTD (569) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.0630 SGD versus a price of 0.0800 SGD, about −21% (overvalued).
What is the fair value of 569?
Our model-based fair value for VICPLAS INTERNATIONAL LTD is 0.0630 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.0800 SGD.
What is the quality score of 569?
VICPLAS INTERNATIONAL LTD has a Quality Score of 50/100. 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 VICPLAS INTERNATIONAL LTD (569)?
VICPLAS INTERNATIONAL LTD reported trailing-twelve-month revenue of about 128M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 569?
The net profit margin of VICPLAS INTERNATIONAL LTD is about -4.7%, 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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