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KORI HOLDINGS LIMITED (5VC) Fair Value & Analysis

Industrials · SG · Market cap 16.9M SGD

KH KORI HOLDINGS LIMITED 5VC · SG
Price0.1700 SGD
Fair Value0.1200 SGD
Upside-29.4%
Quality50/100
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Mixed Growth
Thin margins · 3.3% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/14)
Narrow moat 24/100
Evidence: High Range 0.1200 SGD – 0.1600 SGD Share as image

Fair value as of: Aug 13, 2026

From 19 valuation models · updated 4 days ago

A solid business, but screening 29% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.1600 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

0.1790 SGD 0.1100 SGD Fair Value 0.1200 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 0.1100 SGD – 0.1790 SGD · fair‑value band 0.1200 SGD – 0.1600 SGD · the 0.1700 SGD price screens above the 0.1200 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

KORI HOLDINGS LIMITED (5VC) currently trades at 0.1700 SGD, while our model-based Fair Value estimate is 0.1200 SGD, implying the stock looks roughly 29.4% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, KORI HOLDINGS LIMITED generated revenue of 22.3M SGD at a net margin of 3.3%. Revenue grew 22.7% year over year. It earns a return on equity of 1.3%. Net debt stands at 2.7M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.1200 SGD (bear case) to 0.1600 SGD (bull case); at 0.1700 SGD, the current price sits above 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 1% below its 52-week high and 91% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at -29%, 5VC 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
Residual Income 0.3500 SGD 0.3100 SGD 0.2000 SGD 76
ROIC Compounder 0.0400 SGD 0.0500 SGD 0.0500 SGD 72
Growth-Adj P/E 0.0800 SGD 0.1200 SGD 0.1500 SGD 68
All 19 models by family
DCF Models
Owner Earnings 0.2000 SGD 0.2600 SGD 0.3500 SGD 31
5Y Revenue Exit 0.0300 SGD 0.0700 SGD 0.1200 SGD 39
5Y EBITDA Exit 0.1400 SGD 0.2600 SGD 0.4200 SGD 41
5Y P/E Exit 0.0300 SGD 0.0700 SGD 0.1200 SGD 38
10Y Revenue Exit 0.0100 SGD 0.0300 SGD 0.0600 SGD 36
10Y EBITDA Exit 0.0700 SGD 0.1300 SGD 0.2100 SGD 37
10Y P/E Exit 0.0100 SGD 0.0300 SGD 0.0500 SGD 35
Earnings-Based
Graham-Dodd 0.0500 SGD 0.0600 SGD 0.0700 SGD 54
EPV 0.0400 SGD 0.0500 SGD 0.0500 SGD 59
Multiples
P/E Multiple 0.1200 SGD 0.1600 SGD 0.1900 SGD 63
P/S Multiple 0.0900 SGD 0.1300 SGD 0.1600 SGD 58
P/B Multiple 0.0900 SGD 0.1300 SGD 0.1600 SGD 55
EV/EBIT 0.1200 SGD 0.1700 SGD 0.2200 SGD 53
EV/EBITDA 0.3400 SGD 0.4600 SGD 0.5800 SGD 54
EV/Revenue 0.0800 SGD 0.1200 SGD 0.1700 SGD 43
Asset-Based
NCAV (Graham) 0.2800 SGD 0.3800 SGD 0.5700 SGD 50
Economic Profit
Residual Income 0.3500 SGD 0.3100 SGD 0.2000 SGD 76
ROIC Compounder 0.0400 SGD 0.0500 SGD 0.0500 SGD 72
Growth Earnings
Growth-Adj P/E 0.0800 SGD 0.1200 SGD 0.1500 SGD 68

Widest divergence: Asset-Based (0.3800 SGD) versus Earnings-Based (0.0500 SGD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 22.3M SGD
Revenue growth (YoY) +22.7%
Net margin 3.3%
Return on equity 1.3%
Free cash flow 220K SGD FY2025
P/E ratio 17.0
More key figures
Operating margin 7.3%
EPS (TTM) 0.0100 SGD
EPS growth (YoY) -88.4%
Net debt 2.7M SGD FY2025

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

Quality Score breakdown

Overall quality 50/100

Of which business quality 48 · Market factors (momentum, volatility) 66

Profitability 18
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 75
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

Kori Holdings Limited, an investment holding company, provides civil and structural engineering, and infrastructural construction services for commercial, industrial, and public infrastructural construction projects in Singapore. It operates through two segments, Structural Steel Works and Tunnelling Works.

Full company description

Kori Holdings Limited, an investment holding company, provides civil and structural engineering, and infrastructural construction services for commercial, industrial, and public infrastructural construction projects in Singapore. It operates through two segments, Structural Steel Works and Tunnelling Works. The company designs, purchases, and fabricates reusable steel struts and beams for temporary strutting works in earth retaining or stabilizing structures for excavation works; and rents steel beams. It also supplies skilled personnel to provide macro-tunneling work; and supplies and installs strutting and decking for MRT and expressway construction projects. In addition, the company engages in the design and supply of steel strutting for temporary earth retaining or stabilising structures, as well as steel decking for traffic diversion and working platforms; provision of skilled tunneling workforce for TBM bored tunnel operations; driving of steel piles as decking and king posts, and retaining wall systems; and building construction activities. Kori Holdings Limited was founded in 1982 and is based in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KORI HOLDINGS LIMITED reported revenue of 22.3M SGD in FY2025 versus 18.3M SGD in FY2021, a compound +5.1%/yr. Reported net income was 733K SGD in FY2025, compounding −11.1%/yr from FY2021.

Growth Quality 64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
22.3M SGD
Latest YoY
+28.1%
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.
+4.7%
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.
+8.7%
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.
−8.8%
Revenue +5.1%/yr
FY21 18.3M SGD
FY22 19.5M SGD
FY23 17.9M SGD
FY24 17.4M SGD
FY25 22.3M SGD
Net income −11.1%/yr
FY21 1.2M SGD
FY22 1.4M SGD
FY23 523K SGD
FY24 715K SGD
FY25 733K SGD

5VC screens 29% overvalued. Compare with Larsen & Toubro Limited →

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

Peer Group

Engineering & Construction · 838 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 50 · Above median
Fair Value upside −29% · Below median
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 23% · Above median
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 17.0× · Cheaper than median
P/B 0.23× · Cheaper than 75% of peers
P/S (TTM) 0.59× · Pricier than median
P/FCF 59.9× · Pricier than 75% of peers
EV/EBITDA 4.7× · Cheaper 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 0 · sector 15
FUTURE 100 · sector 14
PAST 5 · sector 26
HEALTH 97 · sector 94
DIVIDEND 6 · sector 43

VALUE 0: the price sits above our fair-value range.

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

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹228.50 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 46,350 KRW 43,924 KRW -5%

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Frequently asked questions

Is KORI HOLDINGS LIMITED (5VC) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.1200 SGD versus a price of 0.1700 SGD, about −29% (overvalued).
What is the fair value of 5VC?
Our model-based fair value for KORI HOLDINGS LIMITED is 0.1200 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.1700 SGD.
What is the quality score of 5VC?
KORI HOLDINGS LIMITED has a Quality Score of 50/100. 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 KORI HOLDINGS LIMITED (5VC)?
KORI HOLDINGS LIMITED reported trailing-twelve-month revenue of about 22.3M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 5VC?
The net profit margin of KORI HOLDINGS LIMITED is about 3.3%, meaning it keeps roughly 3.3% of revenue as net income. 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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