FEDERAL INT(2000) LTD (BDU) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of FEDERAL INT(2000) LTD S$0.34, price S$0.29, upside +17.5%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Federal International (2000) Ltd, an investment holding company, operates as an integrated service provider and procurement specialist in the oil and gas, and energy industries. It operates through Trading; Manufacturing/Design/Research and Development; Marine Logistics; and Corporate and Others.
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Federal International (2000) Ltd, an investment holding company, operates as an integrated service provider and procurement specialist in the oil and gas, and energy industries. It operates through Trading; Manufacturing/Design/Research and Development; Marine Logistics; and Corporate and Others. The company engages in the supply of assembly and distribution of flowline control products; the distribution of oilfield drilling equipment for use on onshore and offshore rigs and drilling platforms; and the provision of complete fire protection and detection systems, as well as electrical products for the power, marine, coal mining, oil and gas, petrochemical, and pharmaceutical industries. It is also involved in the research, development, design, and manufacture of flowline control products, high pressure and temperature valves, and related oilfield products; the chartering of vessels to the offshore oil and gas, and other related industries; the operation and maintenance of oil and gas facility services; the procurement and construction projects of wastewater treatment facility; and the provision of wastewater treatment services to the end-users. In addition, the company engages in the installation supervision of fire protection systems and related products; hardware merchant; and offshore marine project activities. It operates in Indonesia, Japan, the People's Republic of China, Singapore, Thailand, the United Kingdom, Vietnam, Malaysia, the Philippines, South Korea, United States of America, and internationally. Federal International (2000) Ltd was founded in 1974 and is based in Singapore.
Stock analysis
FEDERAL INT(2000) LTD (BDU) currently trades at 0.2900 SGD, while our model-based Fair Value estimate is 0.3408 SGD, implying the stock looks roughly 14.9% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 1.49 SGD per share, and 22 of the 24 models we run sit above the 0.2900 SGD price.
Bear case: the Earnings-Based group reads lowest at 0.2900 SGD, and 2 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.3408 SGD (bear) to 0.4090 SGD (bull), the price of 0.2900 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 63/100 (solid quality), in the Energy sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
FEDERAL INT(2000) LTD reported revenue of 128M SGD in FY2025 versus 59.8M SGD in FY2021, a compound +21.0%/yr. Reported net income was 3.2M SGD in FY2025, compounding +75.8%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 40.8M SGD (≈ $31.9M) · P/E ratio 14.5 · P/S ratio 0.36 · EPS (TTM) 0.0200 SGD · Dividend yield 1.7% · Net margin 2.5% · Return on equity 5.4% · Return on assets (EBIT) 1.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 67% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −23% fair-value upside, at 18%, BDU screens cheaper than that median.
Fair Value models
Bear 0.3408 SGDFair Value 0.3408 SGDBull 0.4090 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 (0.0113 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
+190.0%
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.
−1.7%
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.
+13.5%
Start year 2020 (pandemic). Over 10 years: +0.0% 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.
+0.0%
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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.
+20.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.6%
Dividend (yield on the price)1.7%
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.−9% → 7%
⚠ Revenue per share shrinking 3.6%/yr over ~6Y (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.
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).
−28.7%
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 −30.1% 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.Oil & Gas Equipment & Services · 179 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+17.5% · Above median
Profitability
Return on equity (TTM)5.4% · Below median
Return on assets4.3% · Above median
Net margin (TTM)2.5% · Below median
Operating margin (TTM)3.2% · Below median
Growth and dividend
Revenue growth273.9% · Top 25%
Dividend yield (TTM)1.7% · Below median
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
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Is FEDERAL INT(2000) LTD (BDU) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 0.3408 SGD versus a price of 0.2900 SGD, about +18% upside (undervalued).
What is the fair value of BDU?
Our model-based fair value for FEDERAL INT(2000) LTD is 0.3408 SGD (as of Oct 3, 2026), built from audited fundamentals. The current price: 0.2900 SGD.
What is the quality score of BDU?
FEDERAL INT(2000) LTD has a Quality Score of 63/100. 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 FEDERAL INT(2000) LTD (BDU)?
Our model-based price target is the fair value of 0.3408 SGD (as of Oct 3, 2026) from 24 valuation models. Cautious scenario 0.3408 SGD, optimistic scenario 0.4090 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the FEDERAL INT(2000) LTD stock forecast for 2026?
Our models put fair value at 0.3408 SGD, about +18% upside versus a price of 0.2900 SGD (undervalued). Cautious scenario 0.3408 SGD, optimistic scenario 0.4090 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of FEDERAL INT(2000) LTD (BDU)?
FEDERAL INT(2000) LTD reported trailing-twelve-month revenue of about 128M SGD (latest available figure, as of Oct 3, 2026).
Does FEDERAL INT(2000) LTD pay a dividend?
FEDERAL INT(2000) LTD currently shows a dividend yield of about 1.72% relative to its recent price (as of Oct 3, 2026).
What growth is priced into FEDERAL INT(2000) LTD (BDU)?
For today's price to be fair in a discounted-cash-flow model, FEDERAL INT(2000) LTD would have to grow free cash flow by -28.7 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.5 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of BDU use?
Our models discount FEDERAL INT(2000) LTD at 8.3 %: a base by market capitalisation (nano), damped by beta 0.42, 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 FEDERAL INT(2000) LTD that is -28.7 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has FEDERAL INT(2000) LTD (BDU) delivered so far?
Over the past 5 years revenue at FEDERAL INT(2000) LTD grew +13.5 % a year. The price currently implies -28.7 % 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 FEDERAL INT(2000) LTD (BDU) growing?
The median revenue growth in the sector is +9.6 % a year. That is the yardstick for the growth priced into FEDERAL INT(2000) LTD (-28.7 % 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 FEDERAL INT(2000) LTD (BDU)?
The free-cash-flow yield on the price is 38.03 %: that much free cash flow FEDERAL INT(2000) LTD produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of FEDERAL INT(2000) LTD (BDU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FEDERAL INT(2000) LTD it is 0.3408 SGD per share (as of Oct 3, 2026), against a price of 0.2900 SGD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is FEDERAL INT(2000) LTD stock overvalued or undervalued in 2026?
As of Oct 3, 2026, BDU trades below its calculated fair value: price 0.2900 SGD, fair value 0.3408 SGD, a gap of about +18% (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 BDU?
No. The price is what the market pays today (0.2900 SGD); the fair value is what the company's own numbers justify (0.3408 SGD). For FEDERAL INT(2000) LTD the two are 0.0508 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is FEDERAL INT(2000) LTD worth?
The market values FEDERAL INT(2000) LTD at about 40.8M SGD (market capitalisation, as of Oct 3, 2026). Per share that is 0.2900 SGD; our models calculate a fair value of 0.3408 SGD per share.
What do the bullish and bearish scenarios say about BDU?
Our models span a range for FEDERAL INT(2000) LTD: cautious scenario 0.3408 SGD, base 0.3408 SGD, optimistic 0.4090 SGD per share (as of Oct 3, 2026, price 0.2900 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BDU?
FEDERAL INT(2000) LTD trades at a price-to-earnings ratio of 14.5 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.3408 SGD is built from several models across several years. Other multiples: PEG 5.0, P/B 0.4, P/S 0.2, EV/EBITDA 1.0.
What is the PEG ratio of BDU?
The PEG ratio of FEDERAL INT(2000) LTD is 4.99 (P/E divided by earnings growth, as of Oct 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of FEDERAL INT(2000) LTD (BDU)?
Balance-sheet figures for FEDERAL INT(2000) LTD (as of Oct 3, 2026): return on equity 5.4%. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is BDU from its 52-week high?
FEDERAL INT(2000) LTD trades at 0.2900 SGD, about 9% below its 52-week high of 0.3173 SGD and 67% above the low of 0.1740 SGD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 0.3408 SGD is for.
Which stocks are comparable to FEDERAL INT(2000) LTD?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, TechnipFMC plc, Tenaris S.A, 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 FEDERAL INT(2000) LTD stock attractive at the current price?
The data as of Oct 3, 2026: price 0.2900 SGD, calculated fair value 0.3408 SGD (+18%), Quality Score 63/100, from 24 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 BDU calculated?
We run FEDERAL INT(2000) LTD through 24 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 0.3408 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 15.1 % above its aggregate fair value. FEDERAL INT(2000) LTD currently trades 15 % 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 FEDERAL INT(2000) LTD (BDU)?
The closing price on Oct 2, 2026 was 0.2900 SGD. Our model-based fair value is 0.3408 SGD, about +18% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FEDERAL INT(2000) LTD right now?
The price is below even our cautious bear case (0.3408 SGD). The market is more pessimistic than our downside scenario. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of FEDERAL INT(2000) LTD
How large is the market capitalisation of FEDERAL INT(2000) LTD (BDU)?
The market capitalisation of FEDERAL INT(2000) LTD is 40.8M SGD (≈ $31.9M). 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 FEDERAL INT(2000) LTD (BDU)?
The price-to-sales ratio of FEDERAL INT(2000) LTD is 0.36 (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 FEDERAL INT(2000) LTD (BDU)?
Earnings per share at FEDERAL INT(2000) LTD are 0.0200 SGD (price ÷ EPS = P/E 14.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of FEDERAL INT(2000) LTD (BDU)?
The dividend yield of FEDERAL INT(2000) LTD is 1.7% (payout 25.0%). 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 FEDERAL INT(2000) LTD (BDU)?
The net margin of FEDERAL INT(2000) LTD is 2.5% (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 FEDERAL INT(2000) LTD (BDU)?
The return on equity (ROE) of FEDERAL INT(2000) LTD is 5.4% (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 FEDERAL INT(2000) LTD (BDU)?
On an EBIT basis the return on assets of FEDERAL INT(2000) LTD is 1.1% (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 FEDERAL INT(2000) LTD (BDU)?
The operating margin of FEDERAL INT(2000) LTD is 3.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FEDERAL INT(2000) LTD (BDU)?
Revenue at FEDERAL INT(2000) LTD is growing +274% versus a year earlier (3y avg −1.7%). 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 FEDERAL INT(2000) LTD (BDU)?
Earnings per share at FEDERAL INT(2000) LTD are growing +12.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does FEDERAL INT(2000) LTD (BDU) carry?
The net debt of FEDERAL INT(2000) LTD is 19.4M SGD (fiscal year 2022, ≈ 1.2 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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