BRC ASIA LIMITED (BEC) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of BRC ASIA LIMITED S$3.07, price S$4.14, upside -25.8%, quality 70 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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BRC Asia Limited, together with its subsidiaries, engages in the prefabrication of steel reinforcement for use in concrete in Singapore, Australia, Brunei, Hong Kong, Indonesia, Malaysia, Thailand, India, and internationally. It operates through three segments: Fabrication and Manufacturing, Trading, and Others.
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BRC Asia Limited, together with its subsidiaries, engages in the prefabrication of steel reinforcement for use in concrete in Singapore, Australia, Brunei, Hong Kong, Indonesia, Malaysia, Thailand, India, and internationally. It operates through three segments: Fabrication and Manufacturing, Trading, and Others. The company is involved in the trading of steel reinforcing bars; and manufacture and sale of wire mesh fences. It also provides reinforcing steel products; and weld fences, cages, wires, and rebars, hard-drawn wires, as well as prefabrication, cut, and bend services. BRC Asia Limited was incorporated in 1938 and is based in Singapore. BRC Asia Limited is a subsidiary of Green Esteel Pte. Ltd.
Stock analysis
BRC ASIA LIMITED (BEC) currently trades at 4.14 SGD, while our model-based Fair Value estimate is 3.07 SGD, implying the stock looks roughly 34.7% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 7.64 SGD per share, and 21 of the 24 models we run sit above the 4.14 SGD price.
Bear case: the Asset-Based group reads lowest at 1.26 SGD, and 3 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 2.15 SGD (bear) to 4.71 SGD (bull), the price of 4.14 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 70/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
BRC ASIA LIMITED reported revenue of 1.6B SGD in FY2025 versus 1.2B SGD in FY2021, a compound +7.4%/yr. Reported net income was 94.3M SGD in FY2025, compounding +19.0%/yr from FY2021.
Key figures
Market cap 1.1B SGD (≈ $887M) · P/E ratio 10.9 · P/S ratio 0.66 · EPS (TTM) 0.3800 SGD · Dividend yield 3.4% · Net margin 6.1% · Return on equity 20.3% · Return on assets (EBIT) 10.0%.
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 14% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −45% fair-value upside, at −26%, BEC screens cheaper than that median.
Fair Value models
Bear 2.15 SGDFair Value 3.07 SGDBull 4.71 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 12 months old). Earnings retained since then (0.2367 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.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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+4.8%
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.
+20.5%
Start year 2020 (pandemic). Over 10 years: +15.0% a year
Revenue growth 11 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.
+13.2%
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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.
+23.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.5%
Dividend (yield on the price)3.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.21% vs 23%, steady
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.4% → 7%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−1.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about −3.9% a year for the price and +4.8% for the forecasts.
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.Steel · 411 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside−25% · Below median
Profitability
Return on equity (TTM)20% · Top 25%
Return on assets9% · Top 25%
Net margin (TTM)6% · Above median
Operating margin (TTM)7% · Above median
Growth and dividend
Revenue growth30% · Top 25%
Dividend yield (TTM)3.4% · Above median
Valuation Multiplesvs Steel median · lower = cheaper
P/E (TTM)10.9× · Cheapest 25%
P/B1.71× · Pricier than median
P/S (TTM)0.50× · Cheaper than median
P/FCF7.6× · Priciest 25%
EV/EBITDA4.8× · Cheaper than median
PEG0.45× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 21
FUTURE (revenue growth)100· sector 4
PAST (return on equity)81· sector 15
HEALTH (low debt)100· sector 95
DIVIDEND (yield)68· sector 51
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "BRC ASIA LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/BEC
Frequently asked questions
Is BRC ASIA LIMITED (BEC) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3.07 SGD versus a price of 4.14 SGD, about −26% upside (overvalued).
What is the fair value of BEC?
Our model-based fair value for BRC ASIA LIMITED is 3.07 SGD (as of Sep 24, 2026), built from audited fundamentals. The current price: 4.14 SGD.
What is the quality score of BEC?
BRC ASIA LIMITED has a Quality Score of 70/100. 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 BRC ASIA LIMITED (BEC)?
Our model-based price target is the fair value of 3.07 SGD (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 2.15 SGD, optimistic scenario 4.71 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the BRC ASIA LIMITED stock forecast for 2026?
Our models put fair value at 3.07 SGD, about −26% upside versus a price of 4.14 SGD (overvalued). Cautious scenario 2.15 SGD, optimistic scenario 4.71 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of BRC ASIA LIMITED (BEC)?
BRC ASIA LIMITED reported trailing-twelve-month revenue of about 1.8B SGD (latest available figure, as of Sep 24, 2026).
Does BRC ASIA LIMITED pay a dividend?
BRC ASIA LIMITED currently shows a dividend yield of about 3.38% relative to its recent price (as of Sep 24, 2026).
What growth is priced into BRC ASIA LIMITED (BEC)?
For today's price to be fair in a discounted-cash-flow model, BRC ASIA LIMITED would have to grow free cash flow by -1.9 % 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 +20.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BEC use?
Our models discount BRC ASIA LIMITED at 9.6 %: a base by market capitalisation (small), damped by beta 0.22, 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 BRC ASIA LIMITED that is -1.9 % 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 BRC ASIA LIMITED (BEC) delivered so far?
Over the past 5 years revenue at BRC ASIA LIMITED grew +20.5 % a year. The price currently implies -1.9 % 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 BRC ASIA LIMITED (BEC) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into BRC ASIA LIMITED (-1.9 % 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 BRC ASIA LIMITED (BEC)?
The free-cash-flow yield on the price is 10.25 %: that much free cash flow BRC ASIA LIMITED 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 BRC ASIA LIMITED (BEC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BRC ASIA LIMITED it is 3.07 SGD per share (as of Sep 24, 2026), against a price of 4.14 SGD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is BRC ASIA LIMITED stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BEC trades above its calculated fair value: price 4.14 SGD, fair value 3.07 SGD, a gap of about −26% (overvalued). 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 BEC?
No. The price is what the market pays today (4.14 SGD); the fair value is what the company's own numbers justify (3.07 SGD). For BRC ASIA LIMITED the two are 1.07 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is BRC ASIA LIMITED worth?
The market values BRC ASIA LIMITED at about 1.1B SGD (market capitalisation, as of Sep 24, 2026). Per share that is 4.14 SGD; our models calculate a fair value of 3.07 SGD per share.
What do the bullish and bearish scenarios say about BEC?
Our models span a range for BRC ASIA LIMITED: cautious scenario 2.15 SGD, base 3.07 SGD, optimistic 4.71 SGD per share (as of Sep 24, 2026, price 4.14 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BEC?
BRC ASIA LIMITED trades at a price-to-earnings ratio of 10.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3.07 SGD is built from several models across several years. Other multiples: PEG 0.5, P/B 1.7, P/S 0.5, EV/EBITDA 4.8.
What is the PEG ratio of BEC?
The PEG ratio of BRC ASIA LIMITED is 0.45 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of BRC ASIA LIMITED (BEC)?
Balance-sheet figures for BRC ASIA LIMITED (as of Sep 24, 2026): return on equity 20.3%. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is BEC from its 52-week high?
BRC ASIA LIMITED trades at 4.14 SGD, about 14% below its 52-week high of 4.80 SGD and 10% above the low of 3.77 SGD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 3.07 SGD is for.
Which stocks are comparable to BRC ASIA LIMITED?
From the same area (Basic Materials) we also value Nucor Corporation, Steel Dynamics, Inc, JSW Steel Limited, Tata Steel Limited, 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 BRC ASIA LIMITED stock attractive at the current price?
The data as of Sep 24, 2026: price 4.14 SGD, calculated fair value 3.07 SGD (−26%), Quality Score 70/100, 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 BEC calculated?
We run BRC ASIA LIMITED 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 3.07 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 13.0 % above its aggregate fair value. BRC ASIA LIMITED itself currently trades above fair value. 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 BRC ASIA LIMITED (BEC)?
The closing price on Sep 24, 2026 was 4.14 SGD. Our model-based fair value is 3.07 SGD, about −26% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BRC ASIA LIMITED right now?
A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. A fairly wide model range (2.15 SGD to 4.71 SGD) leaves room in how you read the outcome.
Key figures of BRC ASIA LIMITED
How large is the market capitalisation of BRC ASIA LIMITED (BEC)?
The market capitalisation of BRC ASIA LIMITED is 1.1B SGD (≈ $887M). 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 BRC ASIA LIMITED (BEC)?
The price-to-sales ratio of BRC ASIA LIMITED is 0.66 (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 BRC ASIA LIMITED (BEC)?
Earnings per share at BRC ASIA LIMITED are 0.3800 SGD (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BRC ASIA LIMITED (BEC)?
The dividend yield of BRC ASIA LIMITED is 3.4% (payout 36.8%). 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 BRC ASIA LIMITED (BEC)?
The net margin of BRC ASIA LIMITED is 6.1% (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 BRC ASIA LIMITED (BEC)?
The return on equity (ROE) of BRC ASIA LIMITED is 20.3% (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 BRC ASIA LIMITED (BEC)?
On an EBIT basis the return on assets of BRC ASIA LIMITED is 10.0% (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 BRC ASIA LIMITED (BEC)?
The operating margin of BRC ASIA LIMITED is 6.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BRC ASIA LIMITED (BEC)?
Revenue at BRC ASIA LIMITED is growing +30.1% 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 BRC ASIA LIMITED (BEC)?
Earnings per share at BRC ASIA LIMITED are growing +23.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does BRC ASIA LIMITED (BEC) carry?
The net debt of BRC ASIA LIMITED is 29.4M SGD (fiscal year 2024, ≈ 0.3 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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