BONVESTS HOLDINGS LTD (B28) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of BONVESTS HOLDINGS LTD S$1.08, price S$0.93, upside +16.1%, quality 62 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 0.8031 SGD – 1.08 SGD · fair‑value band 0.7600 SGD – 1.36 SGD · the 0.9300 SGD price screens below the 1.08 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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Bonvests Holdings Limited, an investment holding company, engages in hotel ownership and management, property development and investment, and waste management and contract cleaning businesses. The company operates through Rental, Hotel, Industrial, Investment, Development, and Others segments.
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Bonvests Holdings Limited, an investment holding company, engages in hotel ownership and management, property development and investment, and waste management and contract cleaning businesses. The company operates through Rental, Hotel, Industrial, Investment, Development, and Others segments. It owns, manages, and lets various commercial and residential properties. The company engages in the operation of the golf course, hotels and restaurants, resorts, bars, spas and thalassotherapy centers, and food and beverage outlets; and securities trading and investment holding activities. In addition, the company offers business and management, and public relations consultancy services; trustee services; sales and marketing support; contract cleaning; and waste management services, such as waste disposal services to commercial, industrial, and residential properties, as well as other waste disposal related services. It operates in Singapore, Maldives, Africa, Australia, and internationally. The company was incorporated in 1969 and is based in Singapore. Bonvests Holdings Limited operates as a subsidiary of Goldvein Holdings Pte. Ltd.
Stock analysis
BONVESTS HOLDINGS LTD (B28) currently trades at 0.9300 SGD, while our model-based Fair Value estimate is 1.08 SGD, implying the stock looks roughly 13.9% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 1.40 SGD per share, and 12 of the 25 models we run sit above the 0.9300 SGD price.
Bear case: the Earnings-Based group reads lowest at 0.2600 SGD, and 13 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.7600 SGD (bear) to 1.36 SGD (bull), the price of 0.9300 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 62/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
BONVESTS HOLDINGS LTD reported revenue of 228M SGD in FY2025 versus 134M SGD in FY2021, a compound +14.2%/yr. Reported net income was 19.4M SGD in FY2025, compounding +12.2%/yr from FY2021.
Key figures
Market cap 373M SGD (≈ $291M) · P/E ratio 18.6 · P/S ratio 1.58 · EPS (TTM) 0.0500 SGD · Dividend yield 1.3% · Net margin 8.5% · Return on equity 2.3% · Return on assets (EBIT) 1.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −28% fair-value upside, at 16%, B28 screens cheaper than that median.
Fair Value models
Bear 0.7600 SGDFair Value 1.08 SGDBull 1.36 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 (0.0286 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.89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.8%
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.
+3.0%
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.
+13.6%
Start year 2020 (pandemic). Over 10 years: +0.7% 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.
+1.7%
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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. Basis: EBIT basis.
≈ +7.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.4%
Dividend (yield on the price)1.3%
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.−28% → 11%
⚠ Rate on operating basis: 2025 sits 171% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+8.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about +6.0% a year for the price.
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.Lodging · 158 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside+16.1% · Above median
Profitability
Return on equity (TTM)2.3% · Below median
Return on assets1.1% · Below median
Net margin (TTM)8.5% · Above median
Operating margin (TTM)13.2% · Below median
Growth and dividend
Revenue growth5.5% · Below median
Dividend yield (TTM)1.3% · Below median
Balance sheet
Debt / equity0.14× · Below median
Valuation Multiplesvs Lodging median · lower = cheaper
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Is BONVESTS HOLDINGS LTD (B28) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 1.08 SGD versus a price of 0.9300 SGD, about +16% upside (undervalued).
What is the fair value of B28?
Our model-based fair value for BONVESTS HOLDINGS LTD is 1.08 SGD (as of Sep 27, 2026), built from audited fundamentals. The current price: 0.9300 SGD.
What is the quality score of B28?
BONVESTS HOLDINGS LTD has a Quality Score of 62/100. 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 BONVESTS HOLDINGS LTD (B28)?
Our model-based price target is the fair value of 1.08 SGD (as of Sep 27, 2026) from 25 valuation models. Cautious scenario 0.7600 SGD, optimistic scenario 1.36 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the BONVESTS HOLDINGS LTD stock forecast for 2026?
Our models put fair value at 1.08 SGD, about +16% upside versus a price of 0.9300 SGD (undervalued). Cautious scenario 0.7600 SGD, optimistic scenario 1.36 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of BONVESTS HOLDINGS LTD (B28)?
BONVESTS HOLDINGS LTD reported trailing-twelve-month revenue of about 229M SGD (latest available figure, as of Sep 27, 2026).
Does BONVESTS HOLDINGS LTD pay a dividend?
BONVESTS HOLDINGS LTD currently shows a dividend yield of about 1.29% relative to its recent price (as of Sep 27, 2026).
What growth is priced into BONVESTS HOLDINGS LTD (B28)?
For today's price to be fair in a discounted-cash-flow model, BONVESTS HOLDINGS LTD would have to grow free cash flow by +8.1 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.6 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of B28 use?
Our models discount BONVESTS HOLDINGS LTD at 9.6 %: a base by market capitalisation (small), damped by beta 0.10, country premium for Singapore. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For BONVESTS HOLDINGS LTD that is +8.1 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has BONVESTS HOLDINGS LTD (B28) delivered so far?
Over the past 5 years revenue at BONVESTS HOLDINGS LTD grew +13.6 % a year. The price currently implies +8.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of BONVESTS HOLDINGS LTD (B28) growing?
The median revenue growth in the sector is +3.1 % a year. That is the yardstick for the growth priced into BONVESTS HOLDINGS LTD (+8.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of BONVESTS HOLDINGS LTD (B28)?
The free-cash-flow yield on the price is 9.52 %: that much free cash flow BONVESTS HOLDINGS LTD produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of BONVESTS HOLDINGS LTD (B28)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BONVESTS HOLDINGS LTD it is 1.08 SGD per share (as of Sep 27, 2026), against a price of 0.9300 SGD. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is BONVESTS HOLDINGS LTD stock overvalued or undervalued in 2026?
As of Sep 27, 2026, B28 trades below its calculated fair value: price 0.9300 SGD, fair value 1.08 SGD, a gap of about +16% (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 B28?
No. The price is what the market pays today (0.9300 SGD); the fair value is what the company's own numbers justify (1.08 SGD). For BONVESTS HOLDINGS LTD the two are 0.1500 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is BONVESTS HOLDINGS LTD worth?
The market values BONVESTS HOLDINGS LTD at about 373M SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.9300 SGD; our models calculate a fair value of 1.08 SGD per share.
What do the bullish and bearish scenarios say about B28?
Our models span a range for BONVESTS HOLDINGS LTD: cautious scenario 0.7600 SGD, base 1.08 SGD, optimistic 1.36 SGD per share (as of Sep 27, 2026, price 0.9300 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of B28?
BONVESTS HOLDINGS LTD trades at a price-to-earnings ratio of 18.6 (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 1.08 SGD is built from several models across several years. Other multiples: PEG 2.2, P/B 0.4, P/S 1.6, EV/EBITDA 9.6.
What is the PEG ratio of B28?
The PEG ratio of BONVESTS HOLDINGS LTD is 2.22 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of BONVESTS HOLDINGS LTD (B28)?
Balance-sheet figures for BONVESTS HOLDINGS LTD (as of Sep 27, 2026): return on equity 2.3%, debt of 0.14 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is B28 from its 52-week high?
BONVESTS HOLDINGS LTD trades at 0.9300 SGD, about 7% below its 52-week high of 1.00 SGD and 5% above the low of 0.8891 SGD (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 1.08 SGD is for.
Which stocks are comparable to BONVESTS HOLDINGS LTD?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, InterContinental Hotels Group, Hyatt Hotels 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 BONVESTS HOLDINGS LTD stock attractive at the current price?
The data as of Sep 27, 2026: price 0.9300 SGD, calculated fair value 1.08 SGD (+16%), Quality Score 62/100, from 25 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 B28 calculated?
We run BONVESTS HOLDINGS LTD through 25 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 1.08 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. BONVESTS HOLDINGS LTD currently trades 14 % 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 BONVESTS HOLDINGS LTD (B28)?
The closing price on Oct 1, 2026 was 0.9300 SGD. Our model-based fair value is 1.08 SGD, about +16% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BONVESTS 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 BONVESTS HOLDINGS LTD
How large is the market capitalisation of BONVESTS HOLDINGS LTD (B28)?
The market capitalisation of BONVESTS HOLDINGS LTD is 373M SGD (≈ $291M). 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 BONVESTS HOLDINGS LTD (B28)?
The price-to-sales ratio of BONVESTS HOLDINGS LTD is 1.58 (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 BONVESTS HOLDINGS LTD (B28)?
Earnings per share at BONVESTS HOLDINGS LTD are 0.0500 SGD (price ÷ EPS = P/E 18.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BONVESTS HOLDINGS LTD (B28)?
The dividend yield of BONVESTS HOLDINGS LTD is 1.3% (payout 24.0%). 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 BONVESTS HOLDINGS LTD (B28)?
The net margin of BONVESTS HOLDINGS LTD is 8.5% (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 BONVESTS HOLDINGS LTD (B28)?
The return on equity (ROE) of BONVESTS HOLDINGS LTD is 2.3% (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 BONVESTS HOLDINGS LTD (B28)?
On an EBIT basis the return on assets of BONVESTS HOLDINGS LTD is 1.4% (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 BONVESTS HOLDINGS LTD (B28)?
The operating margin of BONVESTS HOLDINGS LTD is 13.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BONVESTS HOLDINGS LTD (B28)?
Revenue at BONVESTS HOLDINGS LTD is growing +5.5% versus a year earlier (3y avg +3.0%). 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 BONVESTS HOLDINGS LTD (B28)?
Earnings per share at BONVESTS HOLDINGS LTD are growing +340% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does BONVESTS HOLDINGS LTD (B28) carry?
The net debt of BONVESTS HOLDINGS LTD is 295M SGD (fiscal year 2025, ≈ 8.3 yrs of FCF). 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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