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AP OIL INTERNATIONAL LIMITED (5AU) Fair Value & Analysis

Energy · SG · Market cap 20.9M SGD

AO AP OIL INTERNATIONAL LIMITED 5AU · SG
Price0.1250 SGD
Fair Value0.2000 SGD
Upside+60.0%
Quality62/100
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Weak Growth
Thin margins · 2.8% net margin
Low debt · generates free cash flow
3.94% dividend yield
Ranks above peers (9/13)
Narrow moat 27/100
Evidence: High Range 0.1333 SGD – 0.2222 SGD Share as image

Fair value as of: Aug 13, 2026

From 22 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 0.1800 SGD to 0.2000 SGD (+11.1%) since Aug 9, 2026. Share price −10.1% over the past month.

A solid business, screening 60% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.1333 SGD). The market is more pessimistic than our downside scenario.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

0.1706 SGD 0.0915 SGD Fair Value 0.2000 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 0.0915 SGD – 0.1706 SGD · fair‑value band 0.1333 SGD – 0.2222 SGD · the 0.1250 SGD price screens below the 0.2000 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

AP OIL INTERNATIONAL LIMITED (5AU) currently trades at 0.1250 SGD, while our model-based Fair Value estimate is 0.2000 SGD, implying the stock looks roughly 60.0% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, AP OIL INTERNATIONAL LIMITED generated revenue of 56.8M SGD at a net margin of 2.8%. Revenue grew 8.7% year over year. It earns a return on equity of 2.7%. The stock trades on a trailing P/E of 12.5. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.1333 SGD (bear case) to 0.2222 SGD (bull case); at 0.1250 SGD, the current price sits below 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 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -56% fair-value upside, at 60%, 5AU 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 0.2500 SGD 0.2800 SGD 0.3100 SGD 80
Residual Income 0.2300 SGD 0.2100 SGD 0.1500 SGD 76
Rev-Margin DCF 0.2200 SGD 0.2400 SGD 0.2600 SGD 74
All 22 models by family
DCF Models
FCF DCF 0.2500 SGD 0.2700 SGD 0.3100 SGD 38
Owner Earnings 0.2900 SGD 0.3300 SGD 0.3800 SGD 31
5Y Revenue Exit 0.2200 SGD 0.2300 SGD 0.2500 SGD 39
5Y EBITDA Exit 0.2400 SGD 0.2600 SGD 0.2900 SGD 41
5Y P/E Exit 0.2500 SGD 0.2900 SGD 0.3300 SGD 38
10Y Revenue Exit 0.2300 SGD 0.2400 SGD 0.2500 SGD 36
10Y EBITDA Exit 0.2400 SGD 0.2600 SGD 0.2800 SGD 37
10Y P/E Exit 0.2500 SGD 0.2700 SGD 0.2900 SGD 35
Earnings-Based
Graham-Dodd 0.0700 SGD 0.0800 SGD 0.0900 SGD 54
EPV 0.1800 SGD 0.1800 SGD 0.1900 SGD 59
Multiples
P/E Multiple 0.1000 SGD 0.1300 SGD 0.1700 SGD 63
P/S Multiple 0.1200 SGD 0.1600 SGD 0.2000 SGD 58
P/B Multiple 0.1200 SGD 0.1600 SGD 0.2000 SGD 55
EV/EBIT 0.1900 SGD 0.2000 SGD 0.2100 SGD 53
EV/EBITDA 0.2300 SGD 0.2500 SGD 0.2800 SGD 54
EV/Revenue 0.1900 SGD 0.2100 SGD 0.2200 SGD 43
Asset-Based
NCAV (Graham) 0.1800 SGD 0.2400 SGD 0.3500 SGD 50
Growth DCF
Growth DCF 0.2500 SGD 0.2800 SGD 0.3100 SGD 80
Rev-Margin DCF 0.2200 SGD 0.2400 SGD 0.2600 SGD 74
Economic Profit
Residual Income 0.2300 SGD 0.2100 SGD 0.1500 SGD 76
ROIC Compounder 0.1800 SGD 0.1800 SGD 0.1900 SGD 72
Growth Earnings
Growth-Adj P/E 0.0700 SGD 0.1000 SGD 0.1300 SGD 68

Widest divergence: DCF Models (0.2600 SGD) versus Earnings-Based (0.0800 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 56.8M SGD
Revenue growth (YoY) +8.7%
Net margin 2.8%
Return on equity 2.7%
Free cash flow 2.0M SGD FY2025
P/E ratio 12.5
More key figures
Operating margin 0.3%
EPS (TTM) 0.0100 SGD
Dividend yield 3.9%
EPS growth (YoY) -37.8%

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 62 · Market factors (momentum, volatility) 39

Profitability 32
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 18
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

AP Oil International Limited, an investment holding company, manufactures and sells lubricating oils and specialty chemicals for industrial, automotive, and marine applications in Singapore, the rest of Southeast Asia, the Middle East, East Asia, the Indian subcontinent, and internationally. It operates through two segments, Manufacturing and Trading.

Full company description

AP Oil International Limited, an investment holding company, manufactures and sells lubricating oils and specialty chemicals for industrial, automotive, and marine applications in Singapore, the rest of Southeast Asia, the Middle East, East Asia, the Indian subcontinent, and internationally. It operates through two segments, Manufacturing and Trading. The company offers automotive lubricants, including gasoline and gas engine oils, diesel engine oils, motorcycle engine oils, and specialty lubricants and fluids; and industrial lubricants, such as chain, compressor, industrial gear, gas engine, heat transfer, paper machine, slideway, knitting machine textile, transformer, turbine, and industrial grade white oils, as well as hydraulic fluids and pneumatic tool lubricants. It also provides metal working oils and fluids, such as neat cutting oils, rust preventive fluids, stamping and forming fluids, and water-soluble cutting oils, as well as various greases, marine lubricants, and industrial special oils and fluids. In addition, the company engages in the toll-blending and manufacturing of specialty chemicals; trading in base oils, lubricant components, and commodity chemicals, etc.; provision of oil blending services; manufacture and trading of cleaning and chemical products; rental of cleaning equipment; and wholesale, import, and export of lubricating oils. It sells its products under the AP Oil, SIN-O, and Polaris brands. The company exports its products to approximately 20 countries and regions. The company was formerly known as Huan Chew Oil Trading Pte Ltd. and changed its name to AP Oil International Limited in March 2001. AP Oil International Limited was incorporated in 1975 and is headquartered in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AP OIL INTERNATIONAL LIMITED reported revenue of 56.8M SGD in FY2025 versus 55.6M SGD in FY2021, a compound +0.5%/yr. Reported net income was 1.6M SGD in FY2025, compounding −12.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
56.8M SGD
Latest YoY
+3.7%
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.
−2.4%
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.
−0.1%
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.
−1.1%
Revenue +0.5%/yr
FY21 55.6M SGD
FY22 61.1M SGD
FY23 46.2M SGD
FY24 54.7M SGD
FY25 56.8M SGD
Net income −12.9%/yr
FY21 2.7M SGD
FY22 1.1M SGD
FY23 523K SGD
FY24 2.1M SGD
FY25 1.6M SGD

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Cite: Fair Value Calculator (2026). "AP OIL INTERNATIONAL LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/5AU

Peer Group

Oil & Gas Refining & Marketing · 115 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 · Top 25%
Fair Value upside +60% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) 3% · Above median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth 9% · Above median
Dividend yield (TTM) 3.9% · Above median

Valuation Multiples vs Oil & Gas Refining & Marketing median · lower = cheaper

P/E (TTM) 12.5× · Cheaper than median
P/B 0.28× · Cheaper than 75% of peers
P/S (TTM) 0.29× · Cheaper than median
P/FCF 8.2× · Pricier 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 100 · sector 17
FUTURE 44 · sector 15
PAST 11 · sector 33
HEALTH 100 · sector 81
DIVIDEND 79 · sector 68

Values & ESG

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

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Reliance Industries Limited RELIANCE ₹1,329 ₹751.26 -43%
Valero Energy Corporation VLO $330.21 $127.32 -61%
Marathon Petroleum Corporation MPC $348.25 $133.18 -62%
Phillips 66 PSX $225.58 $99.41 -56%
Neste Oyj NESTE €29.61 €3.83 -87%
Formosa Petrochemical Corporation 6505 70.20 TWD 15.32 TWD -78%
Bharat Petroleum Corporation BPCL ₹317.00 ₹846.81 +167%
SK Innovation Co 096770 122,400 KRW 53,541 KRW -56%
S-Oil Corporation 010950 140,900 KRW 19,441 KRW -86%
HD Hyundai Co 267250 230,500 KRW 286,077 KRW +24%

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Frequently asked questions

Is AP OIL INTERNATIONAL LIMITED (5AU) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.2000 SGD versus a price of 0.1250 SGD, about +60% (undervalued).
What is the fair value of 5AU?
Our model-based fair value for AP OIL INTERNATIONAL LIMITED is 0.2000 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.1250 SGD.
What is the quality score of 5AU?
AP OIL INTERNATIONAL LIMITED 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 AP OIL INTERNATIONAL LIMITED (5AU)?
AP OIL INTERNATIONAL LIMITED reported trailing-twelve-month revenue of about 56.8M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 5AU?
The net profit margin of AP OIL INTERNATIONAL LIMITED is about 2.8%, meaning it keeps roughly 2.8% of revenue as net income. Based on the latest reported figures.
Does AP OIL INTERNATIONAL LIMITED pay a dividend?
AP OIL INTERNATIONAL LIMITED currently shows a dividend yield of about 3.94% relative to its recent price (as of Aug 13, 2026).

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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