ASPIAL CORPORATION LIMITED (A30) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of ASPIAL CORPORATION LIMITED S$0.23, price S$0.15, upside +53.3%, quality 39 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 0.0570 SGD – 0.1660 SGD · fair‑value band 0.1600 SGD – 0.2900 SGD · the 0.1500 SGD price screens below the 0.2300 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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Aspial Corporation Limited, an investment holding company, operates in the real estate, financial service, and jewelry businesses in Singapore, Australia, Malaysia, Greater China, and Europe, and internationally. It operates through Retail Business, Real Estate Business, Financial service Business, and Others segments.
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Aspial Corporation Limited, an investment holding company, operates in the real estate, financial service, and jewelry businesses in Singapore, Australia, Malaysia, Greater China, and Europe, and internationally. It operates through Retail Business, Real Estate Business, Financial service Business, and Others segments. The company is involved in the provision of pawn brokerage and secured lending services; retail and trading of pre-loved jewelry, timepieces, and bags; and branded merchandise. It also operates the jewelry retail business under the Maxi-cash, Lee Hwa, Goldheart Jewelry, and Niessing brands. In addition, the company engages in the rental of properties and provision of management and other support services; property management and development; and jewelry manufacturing and wholesaling activities, as well as operates and manages hotels; and resorts and serviced residences. Further, it offers real estate consultancy services; and treasury services. The company was formerly known as Lee Hwa Holdings Ltd. and changed its name to Aspial Corporation Limited in 2001. Aspial Corporation Limited was incorporated in 1970 and is based in Singapore. Aspial Corporation Limited operates as a subsidiary of MLHS Holdings Pte. Ltd.
Stock analysis
ASPIAL CORPORATION LIMITED (A30) currently trades at 0.1500 SGD, while our model-based Fair Value estimate is 0.2300 SGD, implying the stock looks roughly 34.8% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 0.2900 SGD per share, and 5 of the 7 models we run sit above the 0.1500 SGD price.
Bear case: the Asset-Based group reads lowest at 0.1200 SGD, and 2 of the 7 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.1600 SGD (bear) to 0.2900 SGD (bull), the price of 0.1500 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 39/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
ASPIAL CORPORATION LIMITED reported revenue of 876M SGD in FY2025 versus 417M SGD in FY2021, a compound +20.4%/yr. Reported net income was 30.1M SGD in FY2025.
Key figures
Market cap 333M SGD (≈ $260M) · P/E ratio 15.0 · P/S ratio 0.52 · EPS (TTM) 0.0100 SGD · Net margin 3.4% · Return on equity 9.5% · Return on assets (EBIT) 2.2% · Operating margin 3.8%.
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 10% below its 52-week high and 61% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −3% fair-value upside, at 53%, A30 screens cheaper than that median.
Fair Value models
Bear 0.1600 SGDFair Value 0.2300 SGDBull 0.2900 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 2025 figures (about 9 months old). Earnings retained since then (0.0075 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.50/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+29.1%
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.
+20.0%
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.
+10.5%
Start year 2020 (pandemic). Over 10 years: +6.6% 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.
+4.5%
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What shareholders gained per year (last 5 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 5 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.
+11.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.6%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.−1% → 8%
Compare ASPIAL CORPORATION LIMITED 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.Luxury Goods · 119 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score39 · Bottom 25%
Fair Value upside+53.3% · Top 25%
Profitability
Return on equity (TTM)9.5% · Below median
Return on assets2.1% · Below median
Net margin (TTM)2.5% · Below median
Operating margin (TTM)3.8% · Below median
Growth and dividend
Revenue growth26.0% · Above median
Balance sheet
Debt / equity0.89× · Highest 25%
Valuation Multiplesvs Luxury Goods median · lower = cheaper
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Is ASPIAL CORPORATION LIMITED (A30) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 0.2300 SGD versus a price of 0.1500 SGD, about +53% upside (undervalued).
What is the fair value of A30?
Our model-based fair value for ASPIAL CORPORATION LIMITED is 0.2300 SGD (as of Sep 27, 2026), built from audited fundamentals. The current price: 0.1500 SGD.
What is the quality score of A30?
ASPIAL CORPORATION LIMITED has a Quality Score of 39/100. 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 ASPIAL CORPORATION LIMITED (A30)?
Our model-based price target is the fair value of 0.2300 SGD (as of Sep 27, 2026) from 7 valuation models. Cautious scenario 0.1600 SGD, optimistic scenario 0.2900 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the ASPIAL CORPORATION LIMITED stock forecast for 2026?
Our models put fair value at 0.2300 SGD, about +53% upside versus a price of 0.1500 SGD (undervalued). Cautious scenario 0.1600 SGD, optimistic scenario 0.2900 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of ASPIAL CORPORATION LIMITED (A30)?
ASPIAL CORPORATION LIMITED reported trailing-twelve-month revenue of about 876M SGD (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of ASPIAL CORPORATION LIMITED (A30)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ASPIAL CORPORATION LIMITED it is 0.2300 SGD per share (as of Sep 27, 2026), against a price of 0.1500 SGD. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is ASPIAL CORPORATION LIMITED stock overvalued or undervalued in 2026?
As of Sep 27, 2026, A30 trades below its calculated fair value: price 0.1500 SGD, fair value 0.2300 SGD, a gap of about +53% (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 A30?
No. The price is what the market pays today (0.1500 SGD); the fair value is what the company's own numbers justify (0.2300 SGD). For ASPIAL CORPORATION LIMITED the two are 0.0800 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is ASPIAL CORPORATION LIMITED worth?
The market values ASPIAL CORPORATION LIMITED at about 333M SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.1500 SGD; our models calculate a fair value of 0.2300 SGD per share.
What do the bullish and bearish scenarios say about A30?
Our models span a range for ASPIAL CORPORATION LIMITED: cautious scenario 0.1600 SGD, base 0.2300 SGD, optimistic 0.2900 SGD per share (as of Sep 27, 2026, price 0.1500 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of A30?
ASPIAL CORPORATION LIMITED trades at a price-to-earnings ratio of 15.0 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.2300 SGD is built from several models across several years. Other multiples: P/B 0.8, P/S 0.4, EV/EBITDA 8.0.
How solid is the balance sheet of ASPIAL CORPORATION LIMITED (A30)?
Balance-sheet figures for ASPIAL CORPORATION LIMITED (as of Sep 27, 2026): return on equity 9.5%, debt of 0.89 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is A30 from its 52-week high?
ASPIAL CORPORATION LIMITED trades at 0.1500 SGD, about 10% below its 52-week high of 0.1660 SGD and 61% above the low of 0.0930 SGD (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 0.2300 SGD is for.
Which stocks are comparable to ASPIAL CORPORATION LIMITED?
From the same area (Consumer Cyclical) we also value Compagnie Financière Richemont SA, Christian Dior SE, Kering SA, Tapestry, Inc, 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 ASPIAL CORPORATION LIMITED stock attractive at the current price?
The data as of Sep 27, 2026: price 0.1500 SGD, calculated fair value 0.2300 SGD (+53%), Quality Score 39/100, from 7 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 A30 calculated?
We run ASPIAL CORPORATION LIMITED through 7 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 0.2300 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. ASPIAL CORPORATION LIMITED currently trades 35 % 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 ASPIAL CORPORATION LIMITED (A30)?
The closing price on Oct 1, 2026 was 0.1500 SGD. Our model-based fair value is 0.2300 SGD, about +53% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ASPIAL CORPORATION LIMITED right now?
The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (0.1600 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 (0.1600 SGD to 0.2900 SGD) leaves room in how you read the outcome.
Key figures of ASPIAL CORPORATION LIMITED
How large is the market capitalisation of ASPIAL CORPORATION LIMITED (A30)?
The market capitalisation of ASPIAL CORPORATION LIMITED is 333M SGD (≈ $260M). 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 ASPIAL CORPORATION LIMITED (A30)?
The price-to-sales ratio of ASPIAL CORPORATION LIMITED is 0.52 (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 ASPIAL CORPORATION LIMITED (A30)?
Earnings per share at ASPIAL CORPORATION LIMITED are 0.0100 SGD (price ÷ EPS = P/E 15.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ASPIAL CORPORATION LIMITED (A30)?
The net margin of ASPIAL CORPORATION LIMITED is 3.4% (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 ASPIAL CORPORATION LIMITED (A30)?
The return on equity (ROE) of ASPIAL CORPORATION LIMITED is 9.5% (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 ASPIAL CORPORATION LIMITED (A30)?
On an EBIT basis the return on assets of ASPIAL CORPORATION LIMITED 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 ASPIAL CORPORATION LIMITED (A30)?
The operating margin of ASPIAL CORPORATION LIMITED is 3.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ASPIAL CORPORATION LIMITED (A30)?
Revenue at ASPIAL CORPORATION LIMITED is growing +26.0% versus a year earlier (3y avg +20.0%). 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 ASPIAL CORPORATION LIMITED (A30)?
Earnings per share at ASPIAL CORPORATION LIMITED are growing +59.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ASPIAL CORPORATION LIMITED (A30) generate?
The free cash flow of ASPIAL CORPORATION LIMITED is −26.1M 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 debt does ASPIAL CORPORATION LIMITED (A30) carry?
The net debt of ASPIAL CORPORATION LIMITED is 1.2B SGD (fiscal year 2025). 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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