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HIAP HOE LIMITED (5JK) Fair Value & Analysis

Consumer Cyclical · SG · Market cap 306M SGD

HH HIAP HOE LIMITED 5JK · SG
Price0.6200 SGD
Fair Value1.10 SGD
Upside+77.4%
Quality60/100
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Healthy Growth
Highly profitable · 22.5% net margin
Moderate debt · generates free cash flow
2.00% dividend yield
Mixed vs. peers (8/14)
Moderate moat 45/100
Evidence: High Range 0.8200 SGD – 1.10 SGD Share as image

Fair value as of: Aug 13, 2026

From 11 valuation models · updated 4 days ago

Share price −4.6% over the past month.

A solid business, screening 77% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.8200 SGD). The market is more pessimistic than our downside scenario.
  • Solid quality (60/100) 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)

0.7640 SGD 0.4904 SGD Fair Value 1.10 SGD Sep 2019 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 0.4904 SGD – 0.7640 SGD · fair‑value band 0.8200 SGD – 1.10 SGD · the 0.6200 SGD price screens below the 1.10 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

HIAP HOE LIMITED (5JK) currently trades at 0.6200 SGD, while our model-based Fair Value estimate is 1.10 SGD, implying the stock looks roughly 77.4% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Consumer Cyclical 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, HIAP HOE LIMITED generated revenue of 135M SGD at a net margin of 22.5%. Revenue grew 9.5% year over year. It earns a return on equity of 4.2%. Net debt stands at 817M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.8200 SGD (bear case) to 1.10 SGD (bull case); at 0.6200 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 19% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -56% fair-value upside, at 77%, 5JK 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 0.0400 SGD 80
Residual Income 1.10 SGD 1.06 SGD 0.8700 SGD 76
Gordon GGM 0.0600 SGD 0.1000 SGD 0.1400 SGD 70
All 11 models by family
DCF Models
FCF DCF 0.1100 SGD 38
5Y EBITDA Exit 0.1800 SGD 0.7400 SGD 41
10Y EBITDA Exit 0.4500 SGD 37
Dividend Discount
Gordon GGM 0.0600 SGD 0.1000 SGD 0.1400 SGD 70
DDM Multi-Stage 0.0600 SGD 0.0800 SGD 0.1100 SGD 61
Multiples
P/S Multiple 0.8200 SGD 1.10 SGD 1.37 SGD 58
P/B Multiple 0.8200 SGD 1.10 SGD 1.37 SGD 55
EV/EBITDA 0.3300 SGD 0.7100 SGD 54
Asset-Based
NCAV (Graham) 0.7900 SGD 1.06 SGD 1.58 SGD 50
Growth DCF
Growth DCF 0.0400 SGD 80
Economic Profit
Residual Income 1.10 SGD 1.06 SGD 0.8700 SGD 76

Widest divergence: Multiples (1.10 SGD) versus Dividend Discount (0.0800 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 135M SGD
Revenue growth (YoY) +9.5%
Net margin 22.5%
Return on equity 4.2%
Free cash flow 38.3M SGD FY2025
P/E ratio 10.3
More key figures
Operating margin 11.5%
EPS (TTM) 0.0600 SGD
Dividend yield 2.0%
EPS growth (YoY) +354%
Net debt 817M SGD FY2025

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 58 · Market factors (momentum, volatility) 59

Profitability 31
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 89
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 53
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

Hiap Hoe Limited, an investment holding company, engages in the development of portfolio of hospitality, retail, commercial, and residential assets in Australia, the United Kingdom, and Singapore. The company operates through four segments: Rental Income; Leisure Business; Hotel Operations, and Other Investments.

Full company description

Hiap Hoe Limited, an investment holding company, engages in the development of portfolio of hospitality, retail, commercial, and residential assets in Australia, the United Kingdom, and Singapore. The company operates through four segments: Rental Income; Leisure Business; Hotel Operations, and Other Investments. The Rental segment engages in the business of renting space under the investment properties, as well as plant and equipment. The Leisure segment provides leisure and recreational facilities, including bowling, billiard, and amusement centers under the SuperBowl brand name. The Hotel Operations segment operates hotels under the Aloft Singapore Novena, Holiday Inn Express Trafford City, Aloft Perth, and Great Eastern Motor Lodge brand names. The Other Investments segment holds a portfolio of quoted and unquoted investments. It is also involved in the development of luxury and mid-tier residential, and hotel-cum-commercial properties. The company was incorporated in 1994 and is based in Singapore. Hiap Hoe Limited is a subsidiary of Hiap Hoe Holdings Pte Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HIAP HOE LIMITED reported revenue of 135M SGD in FY2025 versus 93.7M SGD in FY2021, a compound +9.6%/yr. Reported net income was 30.4M SGD in FY2025, compounding +9.4%/yr from FY2021.

Growth Quality 89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
135M SGD
Latest YoY
+7.7%
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.
+4.2%
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.
+11.2%
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.
−4.7%
Revenue +9.6%/yr
FY21 93.7M SGD
FY22 119M SGD
FY23 125M SGD
FY24 125M SGD
FY25 135M SGD
Net income +9.4%/yr
FY21 21.2M SGD
FY22 −22.0M SGD
FY23 6.6M SGD
FY24 6.6M SGD
FY25 30.4M SGD

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Cite: Fair Value Calculator (2026). "HIAP HOE LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/5JK

Peer Group

Lodging · 165 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 61 · Top 25%
Fair Value upside +77% · Top 25%
Return on equity (TTM) 4% · Above median
Return on assets 0% · Below median
Net margin (TTM) 23% · Top 25%
Operating margin (TTM) 11% · Below median
Revenue growth 10% · Above median
Dividend yield (TTM) 2.0% · Above median
Debt / equity 0.79× · Higher than 75% of peers

Valuation Multiples vs Lodging median · lower = cheaper

P/E (TTM) 10.3× · Cheaper than 75% of peers
P/B 0.32× · Cheaper than 75% of peers
P/S (TTM) 1.77× · Pricier than median
P/FCF 6.2× · Pricier than median
EV/EBITDA 19.1× · Pricier than 75% of peers

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 0
FUTURE 48 · sector 19
PAST 17 · sector 11
HEALTH 61 · sector 91
DIVIDEND 40 · sector 28

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

Stock Price Fair Value vs Fair Value
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Hilton Worldwide Holdings HLT $322.53 $122.02 -62%
InterContinental Hotels Group IHG $161.82 $85.18 -47%
Hyatt Hotels Corporation H $178.37 $46.78 -74%
H World Group HTHT $41.25 $47.78 +16%
The Indian Hotels Company INDHOTEL ₹724.00 ₹253.67 -65%
Hanjin Kal, 180640 118,200 KRW 36,890 KRW -69%
Jabal Omar Development Company 4250 16.00 SAR 11.64 SAR -27%
Makkah Construction and Development Company 4100 81.95 SAR 36.25 SAR -56%
Minor International Public Company MINT 22.90 THB 32.82 THB +43%

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Frequently asked questions

Is HIAP HOE LIMITED (5JK) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.10 SGD versus a price of 0.6200 SGD, about +77% (undervalued).
What is the fair value of 5JK?
Our model-based fair value for HIAP HOE LIMITED is 1.10 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.6200 SGD.
What is the quality score of 5JK?
HIAP HOE LIMITED has a Quality Score of 60/100. 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 HIAP HOE LIMITED (5JK)?
HIAP HOE LIMITED reported trailing-twelve-month revenue of about 135M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 5JK?
The net profit margin of HIAP HOE LIMITED is about 22.5%, meaning it keeps roughly 22.5% of revenue as net income. Based on the latest reported figures.
Does HIAP HOE LIMITED pay a dividend?
HIAP HOE LIMITED currently shows a dividend yield of about 2.00% 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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