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ANNICA HOLDINGS LIMITED (5AL) fair value: what the stock is really worth

As of Jul 9, 2026: fair value of ANNICA HOLDINGS LIMITED S$0.02, price S$0.02, upside -23.2%, quality 28 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Energy · SG · ISIN SG1J70891671

AH Thin data Sep 24, 2026

ANNICA HOLDINGS LIMITED

5AL · SG

Weak valuationQuality is weak on top of the rich price.

!Fair value 0.0184 SGD · Overvalued (−23.2%)
!Quality 28/100
!Weak Growth (revenue 5y −7.7 %/yr)
!Loss-making · -83.1% net margin (TTM)
✓Low debt · generates free cash flow
!Trails peers (1/7)
!Narrow moat 0/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 2 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

0.1500 SGD 0.0010 SGD Fair Value 0.0184 SGD Apr 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 0.0010 SGD – 0.1500 SGD · fair‑value band 0.0184 SGD – 0.0185 SGD · the 0.0240 SGD price screens above the 0.0184 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Annica Holdings Limited, an investment holding company, supplies oilfield equipment and related products in Brunei, Myanmar, Malaysia, Indonesia, Thailand, Singapore, Vietnam, and internationally. The company operates through Integrated Engineering Solutions; Renewable; Renewable Energy; and Investment and Others segments.

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Annica Holdings Limited, an investment holding company, supplies oilfield equipment and related products in Brunei, Myanmar, Malaysia, Indonesia, Thailand, Singapore, Vietnam, and internationally. The company operates through Integrated Engineering Solutions; Renewable; Renewable Energy; and Investment and Others segments. It is also involved provision of products and services for the oil and gas exploration, production and petrochemical industries; supplying equipment; designing of industrial plant engineering services systems and general wholesaler and trade; manufacturing of electricity distribution and control apparatus, operation of generation facilities that produce electric energy and wholesale of industrial machinery, and equipment and supplies; supply, design and engineering, manufacturing, assembly, testing and commissioning of bespoke solutions for offshore industries; and designing, engineering, manufacture and assembling as well as testing, commissioning and servicing solutions for the oil and gas industries. In addition, the company offers renewable energy solutions for rural electrification projects.; engineering services. The company was incorporated in 1983 and is headquartered in Singapore.

Stock analysis

ANNICA HOLDINGS LIMITED (5AL) currently trades at 0.0240 SGD, while our model-based Fair Value estimate is 0.0184 SGD, 23.2% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of 0.0184 SGD per share, and 0 of the 7 models we run sit above the 0.0240 SGD price.

Bear case: the Multiples group reads lowest at 0.0147 SGD, and 7 of the 7 models stay below the price. Evidence for this calculation is low.

Scenario range: 0.0184 SGD (bear) to 0.0185 SGD (bull), the price of 0.0240 SGD sits above 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 28/100 (below-average quality), in the Energy sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

ANNICA HOLDINGS LIMITED reported revenue of 7.3M SGD in FY2025 versus 7.7M SGD in FY2021, a compound −1.1%/yr. Reported net income was −3.2M SGD in FY2025.

Key figures

Market cap 140K SGD (≈ $110K) · P/S ratio 0.03 · EPS (TTM) −0.0200 SGD · Net margin −43.8% · Return on equity −586% · Return on assets (EBIT) −7.6% · Operating margin −137% · Revenue (TTM) 5.3M SGD.

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 84% below its 52-week high and at its 52-week low.

For context, the median of 10 Energy peers we cover trades at −32% fair-value upside, at −23%, 5AL screens cheaper than that median.

Fair Value models

Bear 0.0184 SGD Fair Value 0.0184 SGD Bull 0.0185 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. 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.
Highest evidence
FCF DCF 0.0184 SGD 0.0240 SGD 0.0332 SGD 81
Growth DCF 0.0184 SGD 0.0240 SGD 0.0313 SGD 80
5Y Revenue Exit 0.0129 SGD 0.0166 SGD 0.0221 SGD 74
All 7 models by family
DCF Models
FCF DCF 0.0184 SGD 0.0240 SGD 0.0332 SGD 81
5Y Revenue Exit 0.0129 SGD 0.0166 SGD 0.0221 SGD 74
10Y Revenue Exit 0.0147 SGD 0.0184 SGD 0.0203 SGD 68
Multiples
EV/Revenue 0.0111 SGD 0.0147 SGD 0.0166 SGD 54
Asset-Based
NCAV (Graham) n/a 0.0018 SGD 0.0018 SGD 52
Growth DCF
Growth DCF 0.0184 SGD 0.0240 SGD 0.0313 SGD 80
Rev-Margin DCF 0.0129 SGD 0.0166 SGD 0.0221 SGD 74

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Quality Score breakdown

Overall quality 28/100

Of which business quality 32 · Market factors (momentum, volatility) 15

Profitability 16
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 45
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 50
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 23/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−42.0%
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.
−21.2%
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.
−7.7%
Start year 2020 (pandemic). Over 10 years: −5.4% a year
Revenue growth 12 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.
−12.7%
Profit margin (trend) ⓘ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.
−9.6% (2020) → −22.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
−8.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about −10.1% a year for the price.

5AL screens overvalued: fair value 23% below the price. Compare with SLB N.V →

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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.Oil & Gas Equipment & Services · 184 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside −23.3% · Below median
Profitability
Return on assets −17.4% · Bottom 25%
Net margin (TTM) −83.1% · Bottom 25%
Operating margin (TTM) −137.3% · Bottom 25%
Growth and dividend
Revenue growth −72.2% · Bottom 25%
Balance sheet
Debt / equity 0.12× · Below median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)2 · sector 16
FUTURE (revenue growth)0 · sector 18
PAST (return on equity)0 · sector 28
HEALTH (low debt)94 · sector 91
DIVIDEND (yield)0 · sector 36

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SLB N.V SLB $48.72 $28.87 −41%
Baker Hughes Company BKR $55.62 $32.38 −42%
TechnipFMC plc FTI $70.99 $27.88 −61%
Halliburton Company HAL $31.88 $21.56 −32%
Yantai Jereh Oilfield Services Group 002353 ¥116.02 ¥127.62 +10%
Subsea 7 S.A SUBC kr 324.80 kr 251.18 −23%
Saipem SpA SPM €4.30 €2.72 −37%
Gaztransport & Technigaz SA GTT €210.00 €231.00 +10%
China Oilfield Services Limited 601808 ¥12.12 ¥13.04 +8%
NOV Inc NOV $18.73 $8.59 −54%

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Cite: Fair Value Calculator (2026). "ANNICA HOLDINGS LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/5AL

Frequently asked questions

Is ANNICA HOLDINGS LIMITED (5AL) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.0184 SGD versus the last price from Jul 9, 2026 of 0.0240 SGD, about −23% upside (overvalued).
What is the fair value of 5AL?
Our model-based fair value for ANNICA HOLDINGS LIMITED is 0.0184 SGD (as of Sep 24, 2026), built from audited fundamentals. Last price (from Jul 9, 2026): 0.0240 SGD.
What is the quality score of 5AL?
ANNICA HOLDINGS LIMITED has a Quality Score of 28/100. 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 ANNICA HOLDINGS LIMITED (5AL)?
Our model-based price target is the fair value of 0.0184 SGD (as of Sep 24, 2026) from 7 valuation models. Cautious scenario 0.0184 SGD, optimistic scenario 0.0185 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the ANNICA HOLDINGS LIMITED stock forecast for 2026?
Our models put fair value at 0.0184 SGD, about −23% upside versus the last price from Jul 9, 2026 of 0.0240 SGD (overvalued). Cautious scenario 0.0184 SGD, optimistic scenario 0.0185 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of ANNICA HOLDINGS LIMITED (5AL)?
ANNICA HOLDINGS LIMITED reported trailing-twelve-month revenue of about 5.3M SGD (latest available figure, as of Sep 24, 2026).
What growth is priced into ANNICA HOLDINGS LIMITED (5AL)?
For today's price to be fair in a discounted-cash-flow model, ANNICA HOLDINGS LIMITED would have to grow free cash flow by -8.2 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -7.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5AL use?
Our models discount ANNICA HOLDINGS LIMITED at 9.5 %: a base by market capitalisation (nano), 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 ANNICA HOLDINGS LIMITED that is -8.2 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has ANNICA HOLDINGS LIMITED (5AL) delivered so far?
Over the past 5 years revenue at ANNICA HOLDINGS LIMITED grew -7.7 % a year. The price currently implies -8.2 % 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 ANNICA HOLDINGS LIMITED (5AL) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into ANNICA HOLDINGS LIMITED (-8.2 % 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 ANNICA HOLDINGS LIMITED (5AL)?
The free-cash-flow yield on the price is 18.84 %: that much free cash flow ANNICA HOLDINGS LIMITED produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ANNICA HOLDINGS LIMITED (5AL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ANNICA HOLDINGS LIMITED it is 0.0184 SGD per share (as of Sep 24, 2026), against a price of 0.0240 SGD. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is ANNICA HOLDINGS LIMITED stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5AL trades above its calculated fair value: price 0.0240 SGD, fair value 0.0184 SGD, a gap of about −23% (overvalued). 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 5AL?
No. The price is what the market pays today (0.0240 SGD); the fair value is what the company's own numbers justify (0.0184 SGD). For ANNICA HOLDINGS LIMITED the two are 0.0056 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is ANNICA HOLDINGS LIMITED worth?
The market values ANNICA HOLDINGS LIMITED at about 140K SGD (market capitalisation, as of Sep 24, 2026). Per share that is 0.0240 SGD; our models calculate a fair value of 0.0184 SGD per share.
What do the bullish and bearish scenarios say about 5AL?
Our models span a range for ANNICA HOLDINGS LIMITED: cautious scenario 0.0184 SGD, base 0.0184 SGD, optimistic 0.0185 SGD per share (as of Sep 24, 2026, price 0.0240 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of ANNICA HOLDINGS LIMITED (5AL)?
Balance-sheet figures for ANNICA HOLDINGS LIMITED (as of Sep 24, 2026): debt of 0.12 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is 5AL from its 52-week high?
ANNICA HOLDINGS LIMITED trades at 0.0240 SGD, about 84% below its 52-week high of 0.1500 SGD and at the low of 0.0240 SGD (as of Jul 9, 2026). Distance from the high says nothing about value: that is what the fair value of 0.0184 SGD is for.
Which stocks are comparable to ANNICA HOLDINGS LIMITED?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, TechnipFMC plc, Halliburton Company, 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 ANNICA HOLDINGS LIMITED stock attractive at the current price?
The data as of Sep 24, 2026: price 0.0240 SGD, calculated fair value 0.0184 SGD (−23%), Quality Score 28/100, from 7 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 5AL calculated?
We run ANNICA HOLDINGS LIMITED through 7 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 0.0184 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 14.5 % above its aggregate fair value. ANNICA HOLDINGS LIMITED itself currently trades above fair value. 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 ANNICA HOLDINGS LIMITED (5AL)?
The latest price we hold is from Jul 9, 2026 and stands at 0.0240 SGD. Our model-based fair value is 0.0184 SGD, about −23% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ANNICA HOLDINGS LIMITED right now?
The price sits above even our optimistic bull case (0.0185 SGD). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts. The models converge in a tight band (0.0184 SGD to 0.0185 SGD), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of ANNICA HOLDINGS LIMITED

How large is the market capitalisation of ANNICA HOLDINGS LIMITED (5AL)?
The market capitalisation of ANNICA HOLDINGS LIMITED is 140K SGD (≈ $110K). 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 ANNICA HOLDINGS LIMITED (5AL)?
The price-to-sales ratio of ANNICA HOLDINGS LIMITED is 0.03 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ANNICA HOLDINGS LIMITED (5AL)?
Earnings per share at ANNICA HOLDINGS LIMITED are −0.0200 SGD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ANNICA HOLDINGS LIMITED (5AL)?
The net margin of ANNICA HOLDINGS LIMITED is −43.8% (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 ANNICA HOLDINGS LIMITED (5AL)?
The return on equity (ROE) of ANNICA HOLDINGS LIMITED is −586% (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 ANNICA HOLDINGS LIMITED (5AL)?
On an EBIT basis the return on assets of ANNICA HOLDINGS LIMITED is −7.6% (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 ANNICA HOLDINGS LIMITED (5AL)?
The operating margin of ANNICA HOLDINGS LIMITED is −137% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ANNICA HOLDINGS LIMITED (5AL)?
Revenue at ANNICA HOLDINGS LIMITED is growing −72.2% versus a year earlier (3y avg −21.2%). 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 ANNICA HOLDINGS LIMITED (5AL)?
Earnings per share at ANNICA HOLDINGS LIMITED are growing −20.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ANNICA HOLDINGS LIMITED (5AL) carry?
The net debt of ANNICA HOLDINGS LIMITED is 720K SGD (fiscal year 2025, ≈ 1.1 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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