Indigo Star Holdings Ltd (8373) fair value: what the stock is really worth
As of Oct 20, 2026: fair value (intrinsic value) of Indigo Star Holdings Ltd stock HK$2.72, price HK$0.91, upside +200.0%, quality 51 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 20, 2026.
How to read this chart
60‑month range HK$0.5400 – HK$3.30 · fair‑value band HK$2.07 – HK$3.35 · the HK$0.9050 price screens below the HK$2.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 20, 2026.
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Indigo Star Holdings Limited, an investment holding company, operates as a subcontractor for structural reinforced and concrete works in Singapore, Hong Kong, and the British Virgin Islands.
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It undertakes reinforced concrete works, including steel reinforced, formwork erection, labor supply for the construction industry, and concrete works of general building and civil engineering projects.
The company undertakes general building projects, such as construction of hotels, hospitals, mixed development, and court buildings; and civil engineering works comprising construction of MRT stations, as well as is involved in building construction; trading of tiles, mobile phones, and accessories; and supply of building materials.
The company was founded in 1996 and is headquartered in Singapore. Indigo Star Holdings Limited operates as a subsidiary of Splendor Investment Limited.
Stock analysis
Indigo Star Holdings Ltd (8373) currently trades at HK$0.9050, while our model-based Fair Value estimate is HK$2.72, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$8.34 per share, and 15 of the 15 models we run sit above the HK$0.9050 price.
Bear case: the Asset-Based group reads lowest at HK$1.37, and 0 of the 15 models stay below the price. Data coverage for this calculation is low.
Scenario range: HK$2.07 (bear) to HK$3.35 (bull), the price of HK$0.9050 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 51/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Indigo Star Holdings Ltd reported revenue of 81.7M SGD in FY2025 versus 16.0M SGD in FY2021, a compound +50.3%/yr. Reported net income was 1.9M SGD in FY2025.
Key figures
Market cap HK$47.0M (≈ $6.0M) Micro · P/E ratio 1.6 · P/S ratio 0.04 · Net margin 2.4% · Return on equity 17.4% · Return on assets (EBIT) 2.2% · Operating margin 2.2% · Revenue (TTM) 101M SGD.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 36 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 39% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −27% fair-value upside, at 200%, 8373 screens cheaper than that median.
Fair Value models
BearHK$2.07Fair Value HK$2.72BullHK$3.35
Price HK$0.9050 · Upside +200.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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.Coverage ⓘCoverage = 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.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−5.4%
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.
+35.8%
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.
+54.0%
Start year 2020 (pandemic). Over 10 years: +10.6% a year
Revenue growth 10 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.
+10.6%
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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.
Compare Indigo Star Holdings Ltd with another stock
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.Engineering & Construction · 789 stocks
Beats the industry median on 9/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Above median
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (12 months)17.4% · Top 25%
Return on assets4.3% · Above median
Net margin (12 months)3.7% · Above median
Operating margin (12 months)2.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)51.5% · Top 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Indigo Star Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8373
Frequently asked questions
Is Indigo Star Holdings Ltd (8373) overvalued or undervalued?
As of Oct 20, 2026, our model estimates a fair value of HK$2.72 versus a price of HK$0.9050, about +200% upside (undervalued).
What is the fair value of 8373?
Our model-based fair value for Indigo Star Holdings Ltd is HK$2.72 (as of Oct 20, 2026), built from audited fundamentals. The current price: HK$0.9050.
What is the quality score of 8373?
Indigo Star Holdings Ltd has a Quality Score of 51/100. 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 Indigo Star Holdings Ltd (8373)?
Our model-based price target is the fair value of HK$2.72 (as of Oct 20, 2026) from 15 valuation models. Cautious scenario HK$2.07, optimistic scenario HK$3.35. It is a calculation from audited fundamentals, not an analyst target.
What is the Indigo Star Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$2.72, about +200% upside versus a price of HK$0.9050 (undervalued). Cautious scenario HK$2.07, optimistic scenario HK$3.35. The calculation is refreshed regularly with new filings.
What is the revenue of Indigo Star Holdings Ltd (8373)?
Indigo Star Holdings Ltd reported trailing-twelve-month revenue of about 101M SGD (latest available figure, as of Oct 20, 2026).
What is the intrinsic value of Indigo Star Holdings Ltd (8373)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indigo Star Holdings Ltd it is HK$2.72 per share (as of Oct 20, 2026), against a price of HK$0.9050. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Indigo Star Holdings Ltd stock overvalued or undervalued in 2026?
As of Oct 20, 2026, 8373 trades below its calculated fair value: price HK$0.9050, fair value HK$2.72, a gap of about +200% (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 8373?
No. The price is what the market pays today (HK$0.9050); the fair value is what the company's own numbers justify (HK$2.72). For Indigo Star Holdings Ltd the two are HK$1.81 per share apart. That gap is exactly why we show both numbers side by side.
How much is Indigo Star Holdings Ltd worth?
The market values Indigo Star Holdings Ltd at about HK$47.0M (market capitalisation, as of Oct 20, 2026). Per share that is HK$0.9050; our models calculate a fair value of HK$2.72 per share.
What do the bullish and bearish scenarios say about 8373?
Our models span a range for Indigo Star Holdings Ltd: cautious scenario HK$2.07, base HK$2.72, optimistic HK$3.35 per share (as of Oct 20, 2026, price HK$0.9050). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8373?
Indigo Star Holdings Ltd trades at a price-to-earnings ratio of 1.6 (as of Oct 20, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$2.72 is built from several models across several years. Other multiples: P/B 0.3, P/S 0.1.
How solid is the balance sheet of Indigo Star Holdings Ltd (8373)?
Balance-sheet figures for Indigo Star Holdings Ltd (as of Oct 20, 2026): return on equity 17.4%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 8373 from its 52-week high?
Indigo Star Holdings Ltd trades at HK$0.9050, about 15% below its 52-week high of HK$1.07 and 39% above the low of HK$0.6500 (as of Oct 20, 2026). Distance from the high says nothing about value: that is what the fair value of HK$2.72 is for.
Which stocks are comparable to Indigo Star Holdings Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Indigo Star Holdings Ltd stock attractive at the current price?
The data as of Oct 20, 2026: price HK$0.9050, calculated fair value HK$2.72 (+200%), Quality Score 51/100, from 15 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 8373 calculated?
We run Indigo Star Holdings Ltd through 15 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 HK$2.72, 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 13.8 % above its aggregate fair value. Indigo Star Holdings Ltd currently trades 67 % 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 Indigo Star Holdings Ltd (8373)?
The closing price on Oct 20, 2026 was HK$0.9050. Our model-based fair value is HK$2.72, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indigo Star Holdings Ltd right now?
The price is below even our cautious bear case (HK$2.07). 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. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Indigo Star Holdings Ltd (8373) come from?
Earnings per share at Indigo Star Holdings Ltd grew +7.6 % a year from 2015 to 2025. Broken into its drivers: revenue per share +23.2 %, EBIT margin −11.0 %, tax rate −1.6 %, residual (interest, one-offs) −0.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Indigo Star Holdings Ltd
How large is the market capitalisation of Indigo Star Holdings Ltd (8373)?
The market capitalisation of Indigo Star Holdings Ltd is HK$47.0M (≈ $6.0M). 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 Indigo Star Holdings Ltd (8373)?
The price-to-sales ratio of Indigo Star Holdings Ltd is 0.04 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Indigo Star Holdings Ltd (8373)?
The net margin of Indigo Star Holdings Ltd is 2.4% (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 Indigo Star Holdings Ltd (8373)?
The return on equity (ROE) of Indigo Star Holdings Ltd is 17.4% (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 Indigo Star Holdings Ltd (8373)?
On an EBIT basis the return on assets of Indigo Star Holdings Ltd is 2.2% (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 Indigo Star Holdings Ltd (8373)?
The operating margin of Indigo Star Holdings Ltd is 2.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indigo Star Holdings Ltd (8373)?
Revenue at Indigo Star Holdings Ltd is growing +51.5% versus a year earlier (3y avg +35.8%). 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 Indigo Star Holdings Ltd (8373)?
Earnings per share at Indigo Star Holdings Ltd are growing +84.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Indigo Star Holdings Ltd (8373) generate?
The free cash flow of Indigo Star Holdings Ltd is −259K SGD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Indigo Star Holdings Ltd (8373) hold?
Indigo Star Holdings Ltd holds more cash than debt, 8.9M SGD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Oct 20, 2026