ASL MARINE HOLDINGS LTD (A04) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of ASL MARINE HOLDINGS LTD S$0.35, price S$0.28, upside +27.3%, quality 44 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 Oct 1, 2026.
How to read this chart
60‑month range 0.0297 SGD – 0.4050 SGD · fair‑value band 0.2200 SGD – 0.3900 SGD · the 0.2750 SGD price screens below the 0.3500 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 1, 2026.
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ASL Marine Holdings Ltd., provides marine services in Singapore, Indonesia, Asia Pacific, South Asia, Europe, the Middle East, and Australia. The company offers shiprepair and conversion, dredge engineering, shipchartering, shipbuilding, and other marine related services.
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ASL Marine Holdings Ltd., provides marine services in Singapore, Indonesia, Asia Pacific, South Asia, Europe, the Middle East, and Australia. The company offers shiprepair and conversion, dredge engineering, shipchartering, shipbuilding, and other marine related services. It also provides retrofitting, extending vessel life, repairing large ships, offshore oil and gas vessel, LNG conversion, and ship repair conversion technology services. In addition, the company develops low emission, hybrid, and electric vessel technology. Further, it offers decommissioning, upcycling, waste management, and other support services to offshore projects. ASL Marine Holdings Ltd. was founded in 1974 and is headquartered in Singapore.
Stock analysis
ASL MARINE HOLDINGS LTD (A04) currently trades at 0.2750 SGD, while our model-based Fair Value estimate is 0.3500 SGD, implying the stock looks roughly 21.4% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 0.5800 SGD per share, and 10 of the 16 models we run sit above the 0.2750 SGD price.
Bear case: the DCF Models group reads lowest at 0.0900 SGD, and 6 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.2200 SGD (bear) to 0.3900 SGD (bull), the price of 0.2750 SGD sits inside 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 44/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
ASL MARINE HOLDINGS LTD reported revenue of 361M SGD in FY2026 versus 236M SGD in FY2022, a compound +11.2%/yr. Reported net income was 33.3M SGD in FY2026.
Key figures
Market cap 283M SGD (≈ $221M) · P/E ratio 9.2 · P/S ratio 0.85 · EPS (TTM) 0.0300 SGD · Dividend yield 1.1% · Net margin 9.2% · Return on equity 25.7% · Return on assets (EBIT) 6.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 53% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −25% fair-value upside, at 27%, A04 screens cheaper than that median.
Fair Value models
Bear 0.2200 SGDFair Value 0.3500 SGDBull 0.3900 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. Based on fiscal year 2026 figures (about 3 months old). Earnings retained since then (0.0070 SGD per share) are deliberately not added.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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.0%
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.
+2.4%
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.
+13.3%
Start year 2021 (pandemic). Over 10 years: −0.1% 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.
−2.8%
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What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ +0.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.2%
Dividend (yield on the price)1.1%
Profit margin 2021 to 2026 ⓘ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.−9% → 13%
⚠ Revenue per share shrinking 5.2%/yr over ~8Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Rate on operating basis: 2026 sits 498% above its own trend.
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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.Aerospace & Defense · 226 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside+27.3% · Top 25%
Profitability
Return on equity (TTM)25.7% · Top 25%
Return on assets6.2% · Top 25%
Net margin (TTM)9.2% · Above median
Operating margin (TTM)14.9% · Above median
Growth and dividend
Revenue growth0.7% · Below median
Dividend yield (TTM)1.1% · Above median
Balance sheet
Debt / equity0.39× · Above median
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
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Is ASL MARINE HOLDINGS LTD (A04) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of 0.3500 SGD versus a price of 0.2750 SGD, about +27% upside (undervalued).
What is the fair value of A04?
Our model-based fair value for ASL MARINE HOLDINGS LTD is 0.3500 SGD (as of Oct 1, 2026), built from audited fundamentals. The current price: 0.2750 SGD.
What is the quality score of A04?
ASL MARINE HOLDINGS LTD has a Quality Score of 44/100. 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 ASL MARINE HOLDINGS LTD (A04)?
Our model-based price target is the fair value of 0.3500 SGD (as of Oct 1, 2026) from 16 valuation models. Cautious scenario 0.2200 SGD, optimistic scenario 0.3900 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the ASL MARINE HOLDINGS LTD stock forecast for 2026?
Our models put fair value at 0.3500 SGD, about +27% upside versus a price of 0.2750 SGD (undervalued). Cautious scenario 0.2200 SGD, optimistic scenario 0.3900 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of ASL MARINE HOLDINGS LTD (A04)?
ASL MARINE HOLDINGS LTD reported trailing-twelve-month revenue of about 361M SGD (latest available figure, as of Oct 1, 2026).
Does ASL MARINE HOLDINGS LTD pay a dividend?
ASL MARINE HOLDINGS LTD currently shows a dividend yield of about 1.09% relative to its recent price (as of Oct 1, 2026).
What is the intrinsic value of ASL MARINE HOLDINGS LTD (A04)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ASL MARINE HOLDINGS LTD it is 0.3500 SGD per share (as of Oct 1, 2026), against a price of 0.2750 SGD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is ASL MARINE HOLDINGS LTD stock overvalued or undervalued in 2026?
As of Oct 1, 2026, A04 trades below its calculated fair value: price 0.2750 SGD, fair value 0.3500 SGD, a gap of about +27% (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 A04?
No. The price is what the market pays today (0.2750 SGD); the fair value is what the company's own numbers justify (0.3500 SGD). For ASL MARINE HOLDINGS LTD the two are 0.0750 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is ASL MARINE HOLDINGS LTD worth?
The market values ASL MARINE HOLDINGS LTD at about 283M SGD (market capitalisation, as of Oct 1, 2026). Per share that is 0.2750 SGD; our models calculate a fair value of 0.3500 SGD per share.
What do the bullish and bearish scenarios say about A04?
Our models span a range for ASL MARINE HOLDINGS LTD: cautious scenario 0.2200 SGD, base 0.3500 SGD, optimistic 0.3900 SGD per share (as of Oct 1, 2026, price 0.2750 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of A04?
ASL MARINE HOLDINGS LTD trades at a price-to-earnings ratio of 9.2 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.3500 SGD is built from several models across several years. Other multiples: PEG 0.3, P/B 1.9, P/S 0.8, EV/EBITDA 3.8.
What is the PEG ratio of A04?
The PEG ratio of ASL MARINE HOLDINGS LTD is 0.25 (P/E divided by earnings growth, as of Oct 1, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of ASL MARINE HOLDINGS LTD (A04)?
Balance-sheet figures for ASL MARINE HOLDINGS LTD (as of Oct 1, 2026): return on equity 25.7%, debt of 0.39 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is A04 from its 52-week high?
ASL MARINE HOLDINGS LTD trades at 0.2750 SGD, about 32% below its 52-week high of 0.4050 SGD and 53% above the low of 0.1800 SGD (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 0.3500 SGD is for.
Which stocks are comparable to ASL MARINE HOLDINGS LTD?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin Corporation, 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 ASL MARINE HOLDINGS LTD stock attractive at the current price?
The data as of Oct 1, 2026: price 0.2750 SGD, calculated fair value 0.3500 SGD (+27%), Quality Score 44/100, from 16 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 A04 calculated?
We run ASL MARINE HOLDINGS LTD through 16 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 0.3500 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. ASL MARINE HOLDINGS LTD currently trades 21 % 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 ASL MARINE HOLDINGS LTD (A04)?
The closing price on Oct 1, 2026 was 0.2750 SGD. Our model-based fair value is 0.3500 SGD, about +27% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ASL MARINE HOLDINGS LTD right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of ASL MARINE HOLDINGS LTD
How large is the market capitalisation of ASL MARINE HOLDINGS LTD (A04)?
The market capitalisation of ASL MARINE HOLDINGS LTD is 283M SGD (≈ $221M). 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 ASL MARINE HOLDINGS LTD (A04)?
The price-to-sales ratio of ASL MARINE HOLDINGS LTD is 0.85 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ASL MARINE HOLDINGS LTD (A04)?
Earnings per share at ASL MARINE HOLDINGS LTD are 0.0300 SGD (price ÷ EPS = P/E 9.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ASL MARINE HOLDINGS LTD (A04)?
The dividend yield of ASL MARINE HOLDINGS LTD is 1.1% (payout 10.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ASL MARINE HOLDINGS LTD (A04)?
The net margin of ASL MARINE HOLDINGS LTD is 9.2% (fiscal year 2026). 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 ASL MARINE HOLDINGS LTD (A04)?
The return on equity (ROE) of ASL MARINE HOLDINGS LTD is 25.7% (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 ASL MARINE HOLDINGS LTD (A04)?
On an EBIT basis the return on assets of ASL MARINE HOLDINGS LTD is 6.1% (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 ASL MARINE HOLDINGS LTD (A04)?
The operating margin of ASL MARINE HOLDINGS LTD is 14.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ASL MARINE HOLDINGS LTD (A04)?
Revenue at ASL MARINE HOLDINGS LTD is growing +0.7% versus a year earlier (3y avg +2.4%). 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 ASL MARINE HOLDINGS LTD (A04)?
Earnings per share at ASL MARINE HOLDINGS LTD are growing +18.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ASL MARINE HOLDINGS LTD (A04) generate?
The free cash flow of ASL MARINE HOLDINGS LTD is −13.8M SGD (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does ASL MARINE HOLDINGS LTD (A04) carry?
The net debt of ASL MARINE HOLDINGS LTD is 86.4M SGD (fiscal year 2026). 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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