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iFAST Corp Pte Ltd (AIY) Fair Value & Analysis

Technology · SG · Market cap 2.7B SGD

IC iFAST Corp Pte Ltd AIY · SG
Price9.02 SGD
Fair Value7.90 SGD
Upside-12.4%
Quality59/100
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Healthy Growth
Solidly profitable · 19.4% net margin
Low debt · generates free cash flow
1.04% dividend yield
Ranks above peers (9/15)
Wide moat 83/100
Evidence: High Range 5.94 SGD – 14.33 SGD Share as image

Fair value as of: Aug 13, 2026

From 25 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 5.72 SGD to 7.90 SGD (+38.1%) since Aug 9, 2026. Share price −5.7% over the past month.

A solid business, but screening 12% overvalued on our models.

What matters now

  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (5.94 SGD to 14.33 SGD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

10.90 SGD 3.44 SGD Fair Value 7.90 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 3.44 SGD – 10.90 SGD · fair‑value band 5.94 SGD – 14.33 SGD · the 9.02 SGD price screens above the 7.90 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

iFAST Corp Pte Ltd (AIY) currently trades at 9.02 SGD, while our model-based Fair Value estimate is 7.90 SGD, implying the stock looks roughly 12.4% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Technology 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, iFAST Corp Pte Ltd generated revenue of 562M SGD at a net margin of 19.4%. Revenue grew 44.5% year over year. It earns a return on equity of 28.4%. The balance sheet holds a net cash position of 17.2M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 5.94 SGD (bear case) to 14.33 SGD (bull case); at 9.02 SGD, the current price sits within 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 18% below its 52-week high and 38% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -40% fair-value upside, at -12%, AIY 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 26.43 SGD 47.06 SGD 86.89 SGD 80
Residual Income 2.17 SGD 3.00 SGD 18.20 SGD 76
ROIC Compounder 3.98 SGD 4.57 SGD 5.17 SGD 72
All 25 models by family
DCF Models
FCF DCF 27.99 SGD 43.02 SGD 88.73 SGD 38
Owner Earnings 6.16 SGD 12.20 SGD 24.42 SGD 31
5Y Revenue Exit 11.05 SGD 15.09 SGD 22.72 SGD 39
5Y EBITDA Exit 12.97 SGD 19.12 SGD 30.39 SGD 41
5Y P/E Exit 13.68 SGD 23.32 SGD 35.33 SGD 38
10Y Revenue Exit 15.93 SGD 24.53 SGD 30.11 SGD 36
10Y EBITDA Exit 17.39 SGD 28.29 SGD 46.49 SGD 37
10Y P/E Exit 17.89 SGD 29.69 SGD 48.89 SGD 35
Earnings-Based
Graham-Dodd 2.23 SGD 15.56 SGD 21.84 SGD 54
Lynch FV 5.12 SGD 7.32 SGD 9.51 SGD 50
PEG = 1.0 5.12 SGD 7.32 SGD 9.51 SGD 46
EPV 3.86 SGD 4.29 SGD 4.65 SGD 59
Dividend Discount
Gordon GGM 0.6600 SGD 1.31 SGD 1.98 SGD 70
DDM Multi-Stage 0.6600 SGD 1.13 SGD 1.38 SGD 61
Multiples
P/E Multiple 6.89 SGD 9.19 SGD 11.49 SGD 63
P/S Multiple 4.18 SGD 5.58 SGD 6.97 SGD 58
P/B Multiple 4.18 SGD 5.58 SGD 6.97 SGD 55
EV/EBIT 7.08 SGD 9.04 SGD 11.00 SGD 53
EV/EBITDA 7.07 SGD 9.03 SGD 11.00 SGD 54
EV/Revenue 4.16 SGD 5.44 SGD 6.72 SGD 43
Asset-Based
NCAV (Graham) 0.6500 SGD 0.8800 SGD 1.31 SGD 50
Growth DCF
Growth DCF 26.43 SGD 47.06 SGD 86.89 SGD 80
Economic Profit
Residual Income 2.17 SGD 3.00 SGD 18.20 SGD 76
ROIC Compounder 3.98 SGD 4.57 SGD 5.17 SGD 72
Growth Earnings
Growth-Adj P/E 7.72 SGD 11.02 SGD 14.33 SGD 68

Widest divergence: Growth DCF (47.06 SGD) versus Asset-Based (0.8800 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 562M SGD
Revenue growth (YoY) +44.5%
Net margin 19.4%
Return on equity 28.4%
Free cash flow 521M SGD FY2025
P/E ratio 25.8
More key figures
Operating margin 30.4%
EPS (TTM) 0.3500 SGD
Dividend yield 1.0%
EPS growth (YoY) +46.4%
Net cash 17.2M SGD FY2020

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

Quality Score breakdown

Overall quality 59/100

Of which business quality 57 · Market factors (momentum, volatility) 58

Profitability 49
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 24
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 66
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

iFAST Corporation Ltd. operates as a digital banking and wealth management platform in Singapore, Hong Kong, Malaysia, China, and the United Kingdom.

Full company description

iFAST Corporation Ltd. operates as a digital banking and wealth management platform in Singapore, Hong Kong, Malaysia, China, and the United Kingdom. The company offers FSM One, a multiproduct transactional platform for self-directed investors; iFAST Central, which provides various services, including investment products, fee collection, operational support, IT solutions, and wrap account services; iFAST Global Prestige, which provides services for high net worth investors; iFAST Global Markets that provides adviser-assisted wealth management plans; iFAST Global Bank, a licensed bank that provides global banking connectivity to consumers, corporates, and financial institutions; and iFAST ePension, which includes pension administrative services and white labeled solutions for scheme sponsors, trustees, and other institutions. It also provides iFAST pensions that deliver tax-effective employee benefits solutions to companies that want to administer pension schemes for their employees through a digital platform; bondsupermart, a centralized bond marketplace; iFAST fund management that offers products and investment solutions; iFAST FINTECH Solutions, which provides customizable fintech solutions for institutional clients and business partners; iFAST TV, an investment-focused digital video channel; and iFAST Global HUB.AI, which leverages AI technologies. iFAST Corporation Ltd. was incorporated in 2000 and is headquartered in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

iFAST Corp Pte Ltd reported revenue of 445M SGD in FY2025 versus 216M SGD in FY2021, a compound +19.8%/yr. Reported net income was 100M SGD in FY2025, compounding +34.4%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
445M SGD
Latest YoY
+31.2%
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.
+29.4%
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.
+21.3%
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.
+16.7%
Revenue +19.8%/yr
FY21 216M SGD
FY22 205M SGD
FY23 243M SGD
FY24 339M SGD
FY25 445M SGD
Net income +34.4%/yr
FY21 30.6M SGD
FY22 6.4M SGD
FY23 28.3M SGD
FY24 66.6M SGD
FY25 100M SGD

AIY screens 12% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "iFAST Corp Pte Ltd Fair Value". https://www.fairvalue-calculator.com/stock/AIY

Peer Group

Software - Application · 723 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 59 · Above median
Fair Value upside −12% · Above median
Return on equity (TTM) 28% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 30% · Top 25%
Revenue growth 45% · Top 25%
Dividend yield (TTM) 1.0% · Below median
Debt / equity 0.25× · Higher than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 25.8× · Pricier than median
P/B 5.38× · Pricier than 75% of peers
P/S (TTM) 3.81× · Pricier than median
P/FCF 4.1× · Cheaper than median
EV/EBITDA 9.3× · Cheaper than median
PEG 1.32× · Pricier 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 17 · sector 0
FUTURE 100 · sector 38
PAST 100 · sector 12
HEALTH 88 · sector 98
DIVIDEND 21 · sector 34

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Uber Technologies, Inc UBER $75.36 $43.66 -42%
Salesforce, Inc CRM $193.32 $249.28 +29%
ServiceNow, Inc NOW $124.94 $43.73 -65%
Cadence Design Systems, Inc CDNS $323.13 $112.57 -65%
Beijing Kingsoft Office Software, Inc 688111 ¥254.50 ¥81.23 -68%
Tata Elxsi Limited TATAELXSI ₹3,712 ₹2,519 -32%
Douzone Bizon Co 012510 120,000 KRW 92,181 KRW -23%
KFin Technologies Limited KFINTECH ₹922.00 ₹556.85 -40%

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Frequently asked questions

Is iFAST Corp Pte Ltd (AIY) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 7.90 SGD versus a price of 9.02 SGD, about −12% (overvalued).
What is the fair value of AIY?
Our model-based fair value for iFAST Corp Pte Ltd is 7.90 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 9.02 SGD.
What is the quality score of AIY?
iFAST Corp Pte Ltd has a Quality Score of 59/100. 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 iFAST Corp Pte Ltd (AIY)?
iFAST Corp Pte Ltd reported trailing-twelve-month revenue of about 562M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of AIY?
The net profit margin of iFAST Corp Pte Ltd is about 19.4%, meaning it keeps roughly 19.4% of revenue as net income. Based on the latest reported figures.
Does iFAST Corp Pte Ltd pay a dividend?
iFAST Corp Pte Ltd currently shows a dividend yield of about 1.04% 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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