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HAFARY HOLDINGS LIMITED (5VS) Fair Value & Analysis

Industrials · SG · Market cap 217M SGD

HH HAFARY HOLDINGS LIMITED 5VS · SG
Price0.5700 SGD
Fair Value1.18 SGD
Upside+107.0%
Quality60/100
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Healthy Growth
Solidly profitable · 10.4% net margin
Moderate debt · generates free cash flow
3.00% dividend yield
Ranks above peers (12/14)
Moderate moat 60/100
Evidence: High Range 0.7700 SGD – 1.59 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 4 days ago

Share price +2.7% over the past month.

A solid business, screening 107% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (0.7700 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.
  • A fairly wide model range (0.7700 SGD to 1.59 SGD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

0.6050 SGD 0.1028 SGD Fair Value 1.18 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 0.1028 SGD – 0.6050 SGD · fair‑value band 0.7700 SGD – 1.59 SGD · the 0.5700 SGD price screens below the 1.18 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

HAFARY HOLDINGS LIMITED (5VS) currently trades at 0.5700 SGD, while our model-based Fair Value estimate is 1.18 SGD, implying the stock looks roughly 107.0% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Industrials 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, HAFARY HOLDINGS LIMITED generated revenue of 287M SGD at a net margin of 10.4%. Revenue grew 2.1% year over year. It earns a return on equity of 21.6%. Net debt stands at 235M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.7700 SGD (bear case) to 1.59 SGD (bull case); at 0.5700 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 2% below its 52-week high and 61% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -60% fair-value upside, at 107%, 5VS 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 0.7700 SGD 1.46 SGD 2.35 SGD 80
Residual Income 0.3600 SGD 0.4700 SGD 1.34 SGD 76
Rev-Margin DCF 0.6500 SGD 1.33 SGD 2.25 SGD 74
All 24 models by family
DCF Models
FCF DCF 0.8000 SGD 1.51 SGD 2.82 SGD 38
Owner Earnings 0.5600 SGD 1.17 SGD 2.12 SGD 31
5Y Revenue Exit 0.6500 SGD 1.34 SGD 2.30 SGD 39
5Y EBITDA Exit 0.9200 SGD 1.93 SGD 3.25 SGD 41
5Y P/E Exit 0.7600 SGD 1.58 SGD 2.55 SGD 38
10Y Revenue Exit 0.6700 SGD 1.30 SGD 2.31 SGD 36
10Y EBITDA Exit 0.8500 SGD 1.69 SGD 3.03 SGD 37
10Y P/E Exit 0.7600 SGD 1.46 SGD 2.50 SGD 35
Earnings-Based
Graham-Dodd 0.4700 SGD 2.64 SGD 3.67 SGD 54
Lynch FV 0.7400 SGD 1.06 SGD 1.37 SGD 50
PEG = 1.0 0.7400 SGD 1.06 SGD 1.37 SGD 46
EPV 0.3300 SGD 0.4100 SGD 0.4700 SGD 59
Multiples
P/E Multiple 1.09 SGD 1.46 SGD 1.82 SGD 63
P/S Multiple 0.8800 SGD 1.18 SGD 1.47 SGD 58
P/B Multiple 0.8800 SGD 1.18 SGD 1.47 SGD 55
EV/EBIT 1.01 SGD 1.44 SGD 1.87 SGD 53
EV/EBITDA 1.11 SGD 1.57 SGD 2.03 SGD 54
EV/Revenue 0.5700 SGD 0.9300 SGD 1.29 SGD 43
Asset-Based
NCAV (Graham) 0.1700 SGD 0.2300 SGD 0.3400 SGD 50
Growth DCF
Growth DCF 0.7700 SGD 1.46 SGD 2.35 SGD 80
Rev-Margin DCF 0.6500 SGD 1.33 SGD 2.25 SGD 74
Economic Profit
Residual Income 0.3600 SGD 0.4700 SGD 1.34 SGD 76
ROIC Compounder 0.3300 SGD 0.4700 SGD 0.6300 SGD 72
Growth Earnings
Growth-Adj P/E 1.11 SGD 1.58 SGD 2.06 SGD 68

Widest divergence: Growth Earnings (1.58 SGD) versus Asset-Based (0.2300 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 287M SGD
Revenue growth (YoY) +2.1%
Net margin 10.4%
Return on equity 21.6%
Free cash flow 46.1M SGD FY2025
P/E ratio 8.1
More key figures
Operating margin 16.6%
EPS (TTM) 0.0700 SGD
Dividend yield 3.0%
EPS growth (YoY) -3.2%
Net debt 235M 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 57 · Market factors (momentum, volatility) 70

Profitability 49
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 22
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 78
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

Hafary Holdings Limited, an investment holding company, engages in import, export, dealing, distribution, wholesale, and trading in building materials. It operates through four segments: General, Project, Manufacturing, and Others segments.

Full company description

Hafary Holdings Limited, an investment holding company, engages in import, export, dealing, distribution, wholesale, and trading in building materials. It operates through four segments: General, Project, Manufacturing, and Others segments. The General segment offers its products for architecture, interior design, and renovation firms for home renovation or small property development. The Project segment engages in the provision of products for customers involved in property development projects, as well as in residential, commercial, public, and industrial sectors for architecture firms, property developers, and construction companies. The Manufacturing segment manufactures and sells ceramic tiles for property developers, wholesalers, and distributors. The Others segment engages in the investment activities, including property rental activities. It offers tile, stone, mosaic, wood-flooring, countertop, and sanitary ware and fitting products. The company also engages in the storage and warehousing of furniture and related products; and cutting, shaping, and finishing of stones. It has operations in Singapore, Malaysia, the Socialist Republic of Vietnam, the People's Republic of China, the Republic of the Union of Myanmar, the United States, Taiwan, Thailand, Australia, the Philippines, the Republic of Indonesia, Japan, Hong Kong, Cambodia, and internationally. The company was incorporated in 1980 and is headquartered in Singapore. Hafary Holdings Limited operates as a subsidiary of Hap Seng Consolidated Berhad.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HAFARY HOLDINGS LIMITED reported revenue of 287M SGD in FY2025 versus 130M SGD in FY2021, a compound +21.9%/yr. Reported net income was 29.9M SGD in FY2025, compounding +26.7%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
287M SGD
Latest YoY
+9.1%
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.
+19.3%
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.
+27.8%
Avg. growth/yr (11Y) 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.
+9.8%
Revenue +21.9%/yr
FY21 130M SGD
FY22 169M SGD
FY23 226M SGD
FY24 263M SGD
FY25 287M SGD
Net income +26.7%/yr
FY21 11.6M SGD
FY22 29.4M SGD
FY23 39.1M SGD
FY24 27.6M SGD
FY25 29.9M SGD

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

Peer Group

Building Products & Equipment · 246 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 60 · Above median
Fair Value upside +107% · Top 25%
Return on equity (TTM) 22% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth 2% · Above median
Dividend yield (TTM) 3.0% · Above median
Debt / equity 0.94× · Higher than 75% of peers

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/E (TTM) 8.1× · Cheaper than 75% of peers
P/B 1.16× · Cheaper than median
P/S (TTM) 0.59× · Cheaper than median
P/FCF 3.7× · Pricier than median
EV/EBITDA 4.9× · Cheaper 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 11 · sector 11
PAST 86 · sector 23
HEALTH 53 · sector 94
DIVIDEND 60 · sector 41

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

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $480.20 $208.50 -57%
Johnson Controls International plc JCI $152.79 $44.75 -71%
Carrier Global Corporation CARR $63.08 $16.85 -73%
Compagnie de Saint-Gobain S.A SGO €84.24 €97.97 +16%
PT Impack Pratama Industri Tbk, IMPC 1,405 IDR 179.76 IDR -87%
NIBE Industrier AB NIBEB kr 38.91 kr 25.37 -35%
Beijing New Building Materials Public Limited 000786 ¥18.73 ¥31.73 +69%
Moon Environment Technology Co 000811 ¥42.22 ¥11.94 -72%
The Supreme Industries Limited SUPREMEIND ₹3,460 ₹1,376 -60%
Aditya Infotech Limited CPPLUS ₹3,343 ₹763.08 -77%

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Frequently asked questions

Is HAFARY HOLDINGS LIMITED (5VS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.18 SGD versus a price of 0.5700 SGD, about +107% (undervalued).
What is the fair value of 5VS?
Our model-based fair value for HAFARY HOLDINGS LIMITED is 1.18 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.5700 SGD.
What is the quality score of 5VS?
HAFARY HOLDINGS 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 HAFARY HOLDINGS LIMITED (5VS)?
HAFARY HOLDINGS LIMITED reported trailing-twelve-month revenue of about 287M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 5VS?
The net profit margin of HAFARY HOLDINGS LIMITED is about 10.4%, meaning it keeps roughly 10.4% of revenue as net income. Based on the latest reported figures.
Does HAFARY HOLDINGS LIMITED pay a dividend?
HAFARY HOLDINGS LIMITED currently shows a dividend yield of about 3.00% 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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