MENCAST HOLDINGS LTD. (5NF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of MENCAST HOLDINGS LTD. S$0.13, price S$0.09, upside +47.7%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range 0.0210 SGD – 0.1200 SGD · fair‑value band 0.0965 SGD – 0.1817 SGD · the 0.0910 SGD price screens below the 0.1344 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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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.
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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.
Stock analysis
MENCAST HOLDINGS LTD. (5NF) currently trades at 0.0910 SGD, while our model-based Fair Value estimate is 0.1344 SGD, implying the stock looks roughly 32.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 0.1300 SGD per share, and 5 of the 10 models we run sit above the 0.0910 SGD price.
Bear case: the Asset-Based group reads lowest at 0.0400 SGD, and 5 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.0965 SGD (bear) to 0.1817 SGD (bull), the price of 0.0910 SGD sits below 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 42/100 (below-average quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
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.
Key figures
Market cap 42.7M SGD (≈ $33.4M) · P/S ratio 0.88 · EPS (TTM) −0.0100 SGD · Net margin −7.5% · Return on equity −10.9% · Return on assets (EBIT) 2.0% · Operating margin −10.3% · Revenue (TTM) 46.3M SGD.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 102% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −34% fair-value upside, at 48%, 5NF screens cheaper than that median.
Fair Value models
Bear 0.0965 SGDFair Value 0.1344 SGDBull 0.1817 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.
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.27/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−13.4%
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.
+3.1%
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.
−0.2%
Start year 2020 (pandemic). Over 10 years: −6.5% 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.
−6.1%
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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.
24.2% (2020) → 0.6% (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
Little optimism in the price
The price assumes less growth than 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).
−13.7%
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 −15.4% a year for the price.
Price, fair value, quality and upside side by side.
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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 · 179 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside+47.7% · Top 25%
Profitability
Return on assets−0.7% · Bottom 25%
Net margin (TTM)−7.5% · Bottom 25%
Operating margin (TTM)−10.3% · Bottom 25%
Growth and dividend
Revenue growth−23.9% · Bottom 25%
Balance sheet
Debt / equity1.03× · Highest 25%
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
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Is MENCAST HOLDINGS LTD. (5NF) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 0.1344 SGD versus a price of 0.0910 SGD, about +48% upside (undervalued).
What is the fair value of 5NF?
Our model-based fair value for MENCAST HOLDINGS LTD. is 0.1344 SGD (as of Sep 27, 2026), built from audited fundamentals. The current price: 0.0910 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 price target for MENCAST HOLDINGS LTD. (5NF)?
Our model-based price target is the fair value of 0.1344 SGD (as of Sep 27, 2026) from 10 valuation models. Cautious scenario 0.0965 SGD, optimistic scenario 0.1817 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the MENCAST HOLDINGS LTD. stock forecast for 2026?
Our models put fair value at 0.1344 SGD, about +48% upside versus a price of 0.0910 SGD (undervalued). Cautious scenario 0.0965 SGD, optimistic scenario 0.1817 SGD. The calculation is refreshed regularly with new filings.
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 Sep 27, 2026).
What growth is priced into MENCAST HOLDINGS LTD. (5NF)?
For today's price to be fair in a discounted-cash-flow model, MENCAST HOLDINGS LTD. would have to grow free cash flow by -13.7 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.2 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 5NF use?
Our models discount MENCAST HOLDINGS LTD. at 8.9 %: a base by market capitalisation (nano), damped by beta 0.76, 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 MENCAST HOLDINGS LTD. that is -13.7 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has MENCAST HOLDINGS LTD. (5NF) delivered so far?
Over the past 5 years revenue at MENCAST HOLDINGS LTD. grew -0.2 % a year. The price currently implies -13.7 % 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 MENCAST HOLDINGS LTD. (5NF) growing?
The median revenue growth in the sector is +9.6 % a year. That is the yardstick for the growth priced into MENCAST HOLDINGS LTD. (-13.7 % 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 MENCAST HOLDINGS LTD. (5NF)?
The free-cash-flow yield on the price is 24.96 %: that much free cash flow MENCAST HOLDINGS LTD. produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of MENCAST HOLDINGS LTD. (5NF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MENCAST HOLDINGS LTD. it is 0.1344 SGD per share (as of Sep 27, 2026), against a price of 0.0910 SGD. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is MENCAST HOLDINGS LTD. stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 5NF trades below its calculated fair value: price 0.0910 SGD, fair value 0.1344 SGD, a gap of about +48% (undervalued). 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 5NF?
No. The price is what the market pays today (0.0910 SGD); the fair value is what the company's own numbers justify (0.1344 SGD). For MENCAST HOLDINGS LTD. the two are 0.0434 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is MENCAST HOLDINGS LTD. worth?
The market values MENCAST HOLDINGS LTD. at about 42.7M SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.0910 SGD; our models calculate a fair value of 0.1344 SGD per share.
What do the bullish and bearish scenarios say about 5NF?
Our models span a range for MENCAST HOLDINGS LTD.: cautious scenario 0.0965 SGD, base 0.1344 SGD, optimistic 0.1817 SGD per share (as of Sep 27, 2026, price 0.0910 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of MENCAST HOLDINGS LTD. (5NF)?
Balance-sheet figures for MENCAST HOLDINGS LTD. (as of Sep 27, 2026): return on equity −10.9%, debt of 1.03 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 5NF from its 52-week high?
MENCAST HOLDINGS LTD. trades at 0.0910 SGD, about 24% below its 52-week high of 0.1200 SGD and 102% above the low of 0.0450 SGD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 0.1344 SGD is for.
Which stocks are comparable to MENCAST HOLDINGS LTD.?
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 MENCAST HOLDINGS LTD. stock attractive at the current price?
The data as of Sep 27, 2026: price 0.0910 SGD, calculated fair value 0.1344 SGD (+48%), Quality Score 42/100, from 10 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 5NF calculated?
We run MENCAST HOLDINGS LTD. through 10 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 0.1344 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. MENCAST HOLDINGS LTD. currently trades 32 % below its own fair value, and the market average says nothing about that. 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 MENCAST HOLDINGS LTD. (5NF)?
The closing price on Oct 2, 2026 was 0.0910 SGD. Our model-based fair value is 0.1344 SGD, about +48% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MENCAST HOLDINGS LTD. right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (0.0965 SGD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (0.0965 SGD to 0.1817 SGD) leaves room in how you read the outcome.
Key figures of MENCAST HOLDINGS LTD.
How large is the market capitalisation of MENCAST HOLDINGS LTD. (5NF)?
The market capitalisation of MENCAST HOLDINGS LTD. is 42.7M SGD (≈ $33.4M). 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 MENCAST HOLDINGS LTD. (5NF)?
The price-to-sales ratio of MENCAST HOLDINGS LTD. is 0.88 (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 MENCAST HOLDINGS LTD. (5NF)?
Earnings per share at MENCAST HOLDINGS LTD. are −0.0100 SGD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of MENCAST HOLDINGS LTD. (5NF)?
The net margin of MENCAST HOLDINGS LTD. is −7.5% (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 MENCAST HOLDINGS LTD. (5NF)?
The return on equity (ROE) of MENCAST HOLDINGS LTD. is −10.9% (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 MENCAST HOLDINGS LTD. (5NF)?
On an EBIT basis the return on assets of MENCAST HOLDINGS LTD. is 2.0% (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 MENCAST HOLDINGS LTD. (5NF)?
The operating margin of MENCAST HOLDINGS LTD. is −10.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MENCAST HOLDINGS LTD. (5NF)?
Revenue at MENCAST HOLDINGS LTD. is growing −23.9% versus a year earlier (3y avg +3.1%). 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 MENCAST HOLDINGS LTD. (5NF)?
Earnings per share at MENCAST HOLDINGS LTD. are growing +941% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does MENCAST HOLDINGS LTD. (5NF) carry?
The net debt of MENCAST HOLDINGS LTD. is 29.2M SGD (fiscal year 2025, ≈ 2.7 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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