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BUKIT SEMBAWANG ESTATES LTD (B61) Fair Value & Analysis

Real Estate · SG · Market cap 1.2B SGD

BS BUKIT SEMBAWANG ESTATES LTD B61 · SG
Price4.49 SGD
Fair Value8.45 SGD
Upside+88.2%
Quality56/100
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Expensive Growth
Highly profitable · 37.2% net margin
Low debt · negative free cash flow
0.84% dividend yield
Ranks above peers (8/10)
Wide moat 71/100
Evidence: High Range 6.33 SGD – 10.56 SGD Share as image

Fair value as of: Aug 13, 2026

From 7 valuation models · updated 4 days ago

Share price −7.4% over the past month.

A solid business, screening 88% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (6.33 SGD). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

5.38 SGD 3.05 SGD Fair Value 8.45 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 3.05 SGD – 5.38 SGD · fair‑value band 6.33 SGD – 10.56 SGD · the 4.49 SGD price screens below the 8.45 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

BUKIT SEMBAWANG ESTATES LTD (B61) currently trades at 4.49 SGD, while our model-based Fair Value estimate is 8.45 SGD, implying the stock looks roughly 88.2% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, BUKIT SEMBAWANG ESTATES LTD generated revenue of 346M SGD at a net margin of 37.2%. Revenue declined 4.7% year over year. It earns a return on equity of 7.9%. Net debt stands at 57.3M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 6.33 SGD (bear case) to 10.56 SGD (bull case); at 4.49 SGD, the current price sits below 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 14% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 88%, B61 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
Residual Income 5.01 SGD 5.21 SGD 5.38 SGD 76
P/S Multiple 6.33 SGD 8.45 SGD 10.56 SGD 58
P/B Multiple 6.33 SGD 8.45 SGD 10.56 SGD 55
All 7 models by family
Multiples
P/S Multiple 6.33 SGD 8.45 SGD 10.56 SGD 58
P/B Multiple 6.33 SGD 8.45 SGD 10.56 SGD 55
EV/EBIT 10.72 SGD 14.03 SGD 17.34 SGD 53
EV/EBITDA 8.70 SGD 11.33 SGD 13.97 SGD 54
EV/Revenue 6.28 SGD 8.62 SGD 10.96 SGD 43
Asset-Based
NCAV (Graham) 3.22 SGD 4.32 SGD 6.45 SGD 50
Economic Profit
Residual Income 5.01 SGD 5.21 SGD 5.38 SGD 76

Widest divergence: Multiples (8.62 SGD) versus Asset-Based (4.32 SGD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 346M SGD
Revenue growth (YoY) -4.7%
Net margin 37.2%
Return on equity 7.9%
Free cash flow −319M SGD FY2026
P/E ratio 0.1
More key figures
Operating margin 44.6%
EPS (TTM) 49.69 SGD
Dividend yield 0.8%
EPS growth (YoY) +58.6%
Net debt 57.3M SGD FY2020

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

Quality Score breakdown

Overall quality 56/100

Of which business quality 51 · Market factors (momentum, volatility) 56

Profitability 40
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 82
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

Bukit Sembawang Estates Limited, an investment holding company, engages in the property development, investments, and other property related activities in Singapore. It operates in three segments: Property Development, Investment Holding, and Hospitality.

Full company description

Bukit Sembawang Estates Limited, an investment holding company, engages in the property development, investments, and other property related activities in Singapore. It operates in three segments: Property Development, Investment Holding, and Hospitality. The company engages in the development of residential properties for sale; and holding and management of office buildings and investments. It also owns and operates serviced apartment units. The company was founded in 1911 and is based in Singapore.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

BUKIT SEMBAWANG ESTATES LTD reported revenue of 346M SGD in FY2026 versus 288M SGD in FY2022, a compound +4.6%/yr. Reported net income was 129M SGD in FY2026, compounding +11.6%/yr from FY2022.

Growth Quality 50/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
346M SGD
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.
+24.0%
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.
+8.3%
Avg. growth/yr (11Y) 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.
+2.7%
Revenue +4.6%/yr
FY22 288M SGD
FY23 197M SGD
FY24 562M SGD
FY25 550M SGD
FY26 346M SGD
Net income +11.6%/yr
FY22 82.9M SGD
FY23 34.4M SGD
FY24 70.8M SGD
FY25 114M SGD
FY26 129M SGD

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Cite: Fair Value Calculator (2026). "BUKIT SEMBAWANG ESTATES LTD Fair Value". https://www.fairvalue-calculator.com/stock/B61

Peer Group

Real Estate - Development · 590 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 56 · Above median
Fair Value upside +88% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 37% · Top 25%
Operating margin (TTM) 45% · Top 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 0.8% · Bottom 25%
Debt / equity 0.14× · Lower than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 0.1× · Cheaper than 75% of peers

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 100 · sector 48
FUTURE 0 · sector 0
PAST 32 · sector 9
HEALTH 93 · sector 85
DIVIDEND 17 · sector 58

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹661.75 ₹146.13 -78%
Lodha Developers Limited LODHA ₹1,209 ₹583.43 -52%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,050 IDR 1,330 IDR -78%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 595.00 IDR 1,488 IDR +150%
PT Sentul City Tbk, BKSL 73.00 IDR 84.16 IDR +15%
PT Ciputra Development Tbk, CTRA 610.00 IDR 1,525 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,300 IDR 6,239 IDR +45%
PT Puradelta Lestari Tbk DMAS 147.00 IDR 164.33 IDR +12%
Phat Dat Real Estate Development Corporation PDR 12,100 VND 4,943 VND -59%

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Frequently asked questions

Is BUKIT SEMBAWANG ESTATES LTD (B61) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 8.45 SGD versus a price of 4.49 SGD, about +88% (undervalued).
What is the fair value of B61?
Our model-based fair value for BUKIT SEMBAWANG ESTATES LTD is 8.45 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 4.49 SGD.
What is the quality score of B61?
BUKIT SEMBAWANG ESTATES LTD has a Quality Score of 56/100. 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 BUKIT SEMBAWANG ESTATES LTD (B61)?
BUKIT SEMBAWANG ESTATES LTD reported trailing-twelve-month revenue of about 346M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of B61?
The net profit margin of BUKIT SEMBAWANG ESTATES LTD is about 37.2%, meaning it keeps roughly 37.2% of revenue as net income. Based on the latest reported figures.
Does BUKIT SEMBAWANG ESTATES LTD pay a dividend?
BUKIT SEMBAWANG ESTATES LTD currently shows a dividend yield of about 0.84% 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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