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FEDERAL INT(2000) LTD (BDU) Fair Value & Analysis

Energy · SG · Market cap 28.1M SGD

FI FEDERAL INT(2000) LTD BDU · SG
Price0.2000 SGD
Fair Value0.3408 SGD
Upside+70.4%
Quality63/100
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Healthy Growth
Thin margins · 2.5% net margin
Low debt · generates free cash flow
2.50% dividend yield
Ranks above peers (10/14)
Narrow moat 27/100
Evidence: High Range 0.2471 SGD – 0.4090 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 0.4000 SGD to 0.3408 SGD (−14.8%) since Aug 9, 2026.

A solid business, screening 70% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.2471 SGD). The market is more pessimistic than our downside scenario.
  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

0.3173 SGD 0.0686 SGD Fair Value 0.3408 SGD Apr 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 0.0686 SGD – 0.3173 SGD · fair‑value band 0.2471 SGD – 0.4090 SGD · the 0.2000 SGD price screens below the 0.3408 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

FEDERAL INT(2000) LTD (BDU) currently trades at 0.2000 SGD, while our model-based Fair Value estimate is 0.3408 SGD, implying the stock looks roughly 70.4% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Energy 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, FEDERAL INT(2000) LTD generated revenue of 128M SGD at a net margin of 2.5%. Revenue grew 273.9% year over year. It earns a return on equity of 5.4%. Net debt stands at 19.4M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.2471 SGD (bear case) to 0.4090 SGD (bull case); at 0.2000 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 38% below its 52-week high and 60% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -40% fair-value upside, at 70%, BDU 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 1.20 SGD 1.76 SGD 2.54 SGD 80
Residual Income 0.3500 SGD 0.3300 SGD 0.2700 SGD 76
Rev-Margin DCF 0.9000 SGD 1.33 SGD 1.89 SGD 74
All 24 models by family
DCF Models
FCF DCF 1.22 SGD 1.89 SGD 2.88 SGD 38
Owner Earnings 0.4500 SGD 0.6300 SGD 0.9000 SGD 31
5Y Revenue Exit 0.9000 SGD 1.33 SGD 1.89 SGD 39
5Y EBITDA Exit 0.7500 SGD 1.02 SGD 1.32 SGD 41
5Y P/E Exit 0.7200 SGD 0.9500 SGD 1.18 SGD 38
10Y Revenue Exit 1.01 SGD 1.42 SGD 2.03 SGD 36
10Y EBITDA Exit 0.9400 SGD 1.23 SGD 1.62 SGD 37
10Y P/E Exit 0.9200 SGD 1.18 SGD 1.52 SGD 35
Earnings-Based
Graham-Dodd 0.1500 SGD 0.7600 SGD 1.05 SGD 54
Lynch FV 0.2100 SGD 0.2900 SGD 0.3800 SGD 50
PEG = 1.0 0.2100 SGD 0.2900 SGD 0.3800 SGD 46
EPV 0.5500 SGD 0.5900 SGD 0.6300 SGD 59
Multiples
P/E Multiple 0.2400 SGD 0.3200 SGD 0.4000 SGD 63
P/S Multiple 0.2900 SGD 0.3900 SGD 0.4800 SGD 58
P/B Multiple 0.2900 SGD 0.3900 SGD 0.4800 SGD 55
EV/EBIT 0.6100 SGD 0.7600 SGD 0.9100 SGD 53
EV/EBITDA 0.4700 SGD 0.5700 SGD 0.6700 SGD 54
EV/Revenue 0.7100 SGD 0.9400 SGD 1.17 SGD 43
Asset-Based
NCAV (Graham) 0.2600 SGD 0.3500 SGD 0.5200 SGD 50
Growth DCF
Growth DCF 1.20 SGD 1.76 SGD 2.54 SGD 80
Rev-Margin DCF 0.9000 SGD 1.33 SGD 1.89 SGD 74
Economic Profit
Residual Income 0.3500 SGD 0.3300 SGD 0.2700 SGD 76
ROIC Compounder 0.5600 SGD 0.6500 SGD 0.7600 SGD 72
Growth Earnings
Growth-Adj P/E 0.2600 SGD 0.3700 SGD 0.4800 SGD 68

Widest divergence: Growth DCF (1.33 SGD) versus Earnings-Based (0.2900 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 128M SGD
Revenue growth (YoY) +274%
Net margin 2.5%
Return on equity 5.4%
Free cash flow 15.5M SGD FY2025
P/E ratio 10.0
More key figures
Operating margin 3.2%
EPS (TTM) 0.0200 SGD
Dividend yield 2.5%
EPS growth (YoY) +12.3%
Net debt 19.4M SGD FY2022

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

Quality Score breakdown

Overall quality 63/100

Of which business quality 64 · Market factors (momentum, volatility) 50

Profitability 36
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 55
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
128M SGD
Latest YoY
+190.0%
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.
−1.7%
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.
+13.5%
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.
+0.0%
Revenue +21.0%/yr
FY21 59.8M SGD
FY22 135M SGD
FY23 50.3M SGD
FY24 44.3M SGD
FY25 128M SGD
Net income +75.8%/yr
FY21 334K SGD
FY22 2.5M SGD
FY23 −18.0M SGD
FY24 3.9M SGD
FY25 3.2M SGD

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FEDERAL INT(2000) LTD · Fair Value
0.3408 SGD +70%Fair Value
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Cite: Fair Value Calculator (2026). "FEDERAL INT(2000) LTD Fair Value". https://www.fairvalue-calculator.com/stock/BDU

Peer Group

Oil & Gas Equipment & Services · 192 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 63 · Top 25%
Fair Value upside +70% · Top 25%
Return on equity (TTM) 5% · Below median
Return on assets 4% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 274% · Top 25%
Dividend yield (TTM) 2.5% · Above median

Valuation Multiples vs Oil & Gas Equipment & Services median · lower = cheaper

P/E (TTM) 10.0× · Cheaper than 75% of peers
P/B 0.30× · Cheaper than 75% of peers
P/S (TTM) 0.17× · Cheaper than 75% of peers
P/FCF 1.4× · Cheaper than 75% of peers
PEG 4.99× · Pricier 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 0
FUTURE 100 · sector 1
PAST 22 · sector 27
HEALTH 100 · sector 93
DIVIDEND 50 · sector 41

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
SLB N.V SLBN 836.00 MXN 488.45 MXN -42%
Baker Hughes Company BKR $64.28 $32.40 -50%
TechnipFMC plc FTI $75.27 $27.43 -64%
Halliburton Company HAL $33.29 $21.50 -35%
Tenaris S.A TS $53.15 $45.68 -14%
Yantai Jereh Oilfield Services Group 002353 ¥144.58 ¥34.17 -76%
Saipem SpA SPM €4.56 €2.72 -40%
Subsea 7 S.A SUBC kr 334.40 kr 224.63 -33%
China Oilfield Services Limited 601808 ¥12.02 ¥12.64 +5%
Gaztransport & Technigaz SA GTT €202.00 €95.01 -53%

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Frequently asked questions

Is FEDERAL INT(2000) LTD (BDU) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.3408 SGD versus a price of 0.2000 SGD, about +70% (undervalued).
What is the fair value of BDU?
Our model-based fair value for FEDERAL INT(2000) LTD is 0.3408 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.2000 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 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 Aug 13, 2026).
What is the net profit margin of BDU?
The net profit margin of FEDERAL INT(2000) LTD is about 2.5%, meaning it keeps roughly 2.5% of revenue as net income. Based on the latest reported figures.
Does FEDERAL INT(2000) LTD pay a dividend?
FEDERAL INT(2000) LTD currently shows a dividend yield of about 2.50% 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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