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MENCAST HOLDINGS LTD. (5NF) Fair Value & Analysis

Energy · SG · Market cap 40.8M SGD

MH MENCAST HOLDINGS LTD. 5NF · SG
Price0.0900 SGD
Fair Value0.1000 SGD
Upside+11.1%
Quality42/100
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Weak Growth
Loss-making · -7.5% net margin
Moderate debt · generates free cash flow
Trails peers (4/12)
Narrow moat 12/100
Evidence: Medium Range 0.0360 SGD – 0.1260 SGD Share as image

Fair value as of: Aug 13, 2026

From 9 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 0.0454 SGD to 0.1000 SGD (+120.3%) since Aug 9, 2026. Share price +8.4% over the past month.

Below-average quality, screening 11% undervalued on our models.

What matters now

  • The model range is unusually wide (0.0360 SGD to 0.1260 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Our model range runs from 0.0360 SGD (bear) to 0.1260 SGD (bull), base 0.1000 SGD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 42/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

0.1200 SGD 0.0210 SGD Fair Value 0.1000 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 0.0210 SGD – 0.1200 SGD · fair‑value band 0.0360 SGD – 0.1260 SGD · the 0.0900 SGD price screens below the 0.1000 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

MENCAST HOLDINGS LTD. (5NF) currently trades at 0.0900 SGD, while our model-based Fair Value estimate is 0.1000 SGD, implying the stock looks roughly 11.1% undervalued today. The Quality Score stands at 42/100 (below-average 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: medium), always confirm before acting.

Over the trailing twelve months, MENCAST HOLDINGS LTD. generated revenue of 46.3M SGD at a net margin of -7.5%. Revenue declined 23.9% year over year. It earns a return on equity of -10.9%. Net debt stands at 29.2M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.0360 SGD (bear case) to 0.1260 SGD (bull case); at 0.0900 SGD, the current price sits within 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 29% below its 52-week high and 275% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -40% fair-value upside, at 11%, 5NF 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 0.1200 SGD 0.1600 SGD 0.2200 SGD 80
Rev-Margin DCF 0.0300 SGD 0.0400 SGD 0.0600 SGD 74
EV/EBITDA 0.0300 SGD 0.0500 SGD 0.0800 SGD 54
All 9 models by family
DCF Models
FCF DCF 0.1200 SGD 0.1600 SGD 0.2300 SGD 38
5Y Revenue Exit 0.0300 SGD 0.0400 SGD 0.0500 SGD 39
5Y EBITDA Exit 0.0600 SGD 0.0900 SGD 0.1300 SGD 41
10Y Revenue Exit 0.0700 SGD 0.0800 SGD 0.0900 SGD 36
10Y EBITDA Exit 0.0900 SGD 0.1100 SGD 0.1300 SGD 37
Multiples
EV/EBITDA 0.0300 SGD 0.0500 SGD 0.0800 SGD 54
Asset-Based
NCAV (Graham) 0.0300 SGD 0.0400 SGD 0.0600 SGD 50
Growth DCF
Growth DCF 0.1200 SGD 0.1600 SGD 0.2200 SGD 80
Rev-Margin DCF 0.0300 SGD 0.0400 SGD 0.0600 SGD 74

Widest divergence: DCF Models (0.0900 SGD) versus Asset-Based (0.0400 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 46.3M SGD
Revenue growth (YoY) -23.9%
Net margin -7.5%
Return on equity -10.9%
Free cash flow 10.7M SGD FY2025
Operating margin -10.3%
More key figures
EPS (TTM) -0.0100 SGD
EPS growth (YoY) +941%
Net debt 29.2M SGD FY2025

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

Quality Score breakdown

Overall quality 42/100

Of which business quality 43 · Market factors (momentum, volatility) 59

Profitability 7
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 88
Earnings quality: real cash, not paper profit
Fin. Strength 14
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 82
Distance to the 52-week high (market factor)
Net Issuance 66
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

Mencast Holdings Ltd., an investment holding company, provides engineering and maintenance, repair, and overhaul solutions in Singapore, the rest of Asia, and internationally. The company operates through three segments: Offshore and Engineering, Marine, and Energy Services.

Full company description

Mencast Holdings Ltd., an investment holding company, provides engineering and maintenance, repair, and overhaul solutions in Singapore, the rest of Asia, and internationally. The company operates through three segments: Offshore and Engineering, Marine, and Energy Services. The Offshore and Engineering segment offers inspection, maintenance, and fabrication of offshore structures, as well as engineering and other onshore structure-related services to the construction and infrastructure, oil and gas, energy and utilities, and water treatment and reclaim sectors. This segment also provides design, procurement, fabrication, and installation of structural and precision engineering systems and plant services. The Marine segment offers services and solutions, including sterngear manufacturing; propeller repair and modification services in the offshore oil and gas and marine industry; CPP blades repair, bronze casting for corroded, and broken parts of cargo pumps, casings, diffuser, and impellers; and inspection, repair and maintenance at shipyards, anchorages, ports, wharves and jetties, and onboard vessels. The Energy Services segment provides waste treatment and recovery waste systems; and treatment of waste, water, oily sludge, slope, mud oil, contaminated soil, solid wastes, and filter cakes. The company is also involved in the supply, refurbishment and reconditioning of sterngear; developing, designing, manufacturing and distributing low-carbon building materials and technologies; and provision of oil and gas equipment and precision engineering services, as well as offering consultancy services. Mencast Holdings Ltd. was founded in 1981 and is based in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MENCAST HOLDINGS LTD. reported revenue of 46.3M SGD in FY2025 versus 51.3M SGD in FY2021, a compound −2.5%/yr. Reported net income was −3.5M SGD in FY2025.

Growth Quality 27/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
46.3M SGD
Latest YoY
−13.4%
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.
+3.1%
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.
−0.2%
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.
−6.1%
Revenue −2.5%/yr
FY21 51.3M SGD
FY22 42.3M SGD
FY23 48.4M SGD
FY24 53.5M SGD
FY25 46.3M SGD
Net income
FY21 6.5M SGD
FY22 −414K SGD
FY23 1.5M SGD
FY24 2.4M SGD
FY25 −3.5M SGD

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Cite: Fair Value Calculator (2026). "MENCAST HOLDINGS LTD. Fair Value". https://www.fairvalue-calculator.com/stock/5NF

Peer Group

Oil & Gas Equipment & Services · 192 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 42 · Below median
Fair Value upside +11% · Top 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -7% · Bottom 25%
Operating margin (TTM) -10% · Bottom 25%
Revenue growth -24% · Bottom 25%
Debt / equity 1.03× · Higher than 75% of peers

Valuation Multiples vs Oil & Gas Equipment & Services median · lower = cheaper

P/B 1.07× · Cheaper than median
P/S (TTM) 0.69× · Cheaper than median
P/FCF 3.0× · Cheaper than median
EV/EBITDA 12.1× · 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 48 · sector 0
FUTURE 0 · sector 1
PAST 0 · sector 27
HEALTH 49 · sector 93
DIVIDEND 0 · sector 41

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

Stock Price Fair Value vs Fair Value
SLB N.V SLBN 836.00 MXN 488.45 MXN -42%
Baker Hughes Company BKR $64.28 $32.40 -50%
TechnipFMC plc FTI $75.27 $27.43 -64%
Halliburton Company HAL $33.29 $21.50 -35%
Tenaris S.A TS $53.15 $45.68 -14%
Yantai Jereh Oilfield Services Group 002353 ¥144.58 ¥34.17 -76%
Saipem SpA SPM €4.56 €2.72 -40%
Subsea 7 S.A SUBC kr 334.40 kr 224.63 -33%
China Oilfield Services Limited 601808 ¥12.02 ¥12.64 +5%
Gaztransport & Technigaz SA GTT €202.00 €95.01 -53%

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Frequently asked questions

Is MENCAST HOLDINGS LTD. (5NF) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.1000 SGD versus a price of 0.0900 SGD, about +11% (undervalued).
What is the fair value of 5NF?
Our model-based fair value for MENCAST HOLDINGS LTD. is 0.1000 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.0900 SGD.
What is the quality score of 5NF?
MENCAST HOLDINGS LTD. has a Quality Score of 42/100. 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 MENCAST HOLDINGS LTD. (5NF)?
MENCAST HOLDINGS LTD. reported trailing-twelve-month revenue of about 46.3M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 5NF?
The net profit margin of MENCAST HOLDINGS LTD. is about -7.5%, 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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