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JB Foods Limited (BEW) Fair Value & Analysis

Consumer Defensive · SG · Market cap 248M SGD

JF JB Foods Limited BEW · SG
Price0.6450 SGD
Fair Value0.6545 SGD
Upside+1.5%
Quality44/100
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Mixed Growth
Thin margins · 5.8% net margin
Low debt · negative free cash flow
5.07% dividend yield
Ranks above peers (10/13)
Moderate moat 57/100
Evidence: High Range 0.4674 SGD – 0.8377 SGD Share as image

Fair value as of: Aug 13, 2026

From 15 valuation models · updated yesterday

Share price −11.6% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 0.4674 SGD (bear) to 0.8377 SGD (bull), base 0.6545 SGD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 44/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

0.7500 SGD 0.3934 SGD Fair Value 0.6545 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 0.3934 SGD – 0.7500 SGD · fair‑value band 0.4674 SGD – 0.8377 SGD · the 0.6450 SGD price screens below the 0.6545 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

JB Foods Limited (BEW) currently trades at 0.6450 SGD, while our model-based Fair Value estimate is 0.6545 SGD, implying the stock looks roughly 1.5% fairly valued today. The Quality Score stands at 44/100 (below-average quality), in the Consumer Defensive 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, JB Foods Limited generated revenue of 1.4B SGD at a net margin of 5.8%. Revenue declined 37.6% year over year. It earns a return on equity of 33.2%. Net debt stands at 221M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.4674 SGD (bear case) to 0.8377 SGD (bull case); at 0.6450 SGD, the current price sits within 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 21% below its 52-week high and 60% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -37% fair-value upside, at 1%, BEW 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 1.21 SGD 1.65 SGD 7.67 SGD 76
ROIC Compounder 2.91 SGD 3.75 SGD 4.77 SGD 72
Growth-Adj P/E 4.90 SGD 7.01 SGD 9.11 SGD 68
All 15 models by family
DCF Models
Owner Earnings 2.16 SGD 4.26 SGD 7.93 SGD 31
Earnings-Based
Graham-Dodd 1.57 SGD 10.93 SGD 15.34 SGD 54
Lynch FV 3.74 SGD 5.35 SGD 6.95 SGD 50
PEG = 1.0 3.74 SGD 5.35 SGD 6.95 SGD 46
EPV 2.48 SGD 2.78 SGD 3.02 SGD 59
Multiples
P/E Multiple 3.63 SGD 4.84 SGD 6.05 SGD 63
P/S Multiple 2.94 SGD 3.92 SGD 4.90 SGD 58
P/B Multiple 2.94 SGD 3.92 SGD 4.90 SGD 55
EV/EBIT 4.93 SGD 6.58 SGD 8.23 SGD 53
EV/EBITDA 3.99 SGD 5.33 SGD 6.67 SGD 54
EV/Revenue 3.51 SGD 5.03 SGD 6.54 SGD 43
Asset-Based
NCAV (Graham) 0.4100 SGD 0.5400 SGD 0.8100 SGD 50
Economic Profit
Residual Income 1.21 SGD 1.65 SGD 7.67 SGD 76
ROIC Compounder 2.91 SGD 3.75 SGD 4.77 SGD 72
Growth Earnings
Growth-Adj P/E 4.90 SGD 7.01 SGD 9.11 SGD 68

Widest divergence: Growth Earnings (7.01 SGD) versus Asset-Based (0.5400 SGD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.4B SGD
Revenue growth (YoY) -37.6%
Net margin 5.8%
Return on equity 33.2%
Free cash flow −45.2M SGD FY2025
P/E ratio 2.2
More key figures
Operating margin 8.4%
EPS (TTM) 0.3000 SGD
Dividend yield 5.1%
EPS growth (YoY) -38.9%
Net debt 221M SGD FY2025

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

Quality Score breakdown

Overall quality 44/100

Of which business quality 42 · Market factors (momentum, volatility) 65

Profitability 63
Margins and returns on capital today
Quality Growth 85
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 35
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 18
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

JB Foods Limited, an investment holding company, engages in the production and sale of cocoa ingredient products primarily in Singapore, Malaysia, Indonesia, the People's Republic of China, and the United States. The company offers cocoa mass, cocoa butter, and cocoa powder under the JB Cocoa brand.

Full company description

JB Foods Limited, an investment holding company, engages in the production and sale of cocoa ingredient products primarily in Singapore, Malaysia, Indonesia, the People's Republic of China, and the United States. The company offers cocoa mass, cocoa butter, and cocoa powder under the JB Cocoa brand. It sells its products to trade houses and end users, such as food and beverage and confectionery manufacturers. The company was incorporated in 2012 and is based in Singapore.

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

Revenue & earnings trend

FY2020 – FY2025 · reported fiscal years

JB Foods Limited reported revenue of 1.4B SGD in FY2025 versus 418M SGD in FY2020, a compound +27.1%/yr. Reported net income was 79.9M SGD in FY2025, compounding +32.8%/yr from FY2020.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.4B 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.
+39.6%
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.
+27.1%
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.
+7.1%
Revenue +27.1%/yr
FY20 418M SGD
FY21 449M SGD
FY22 510M SGD
FY23 596M SGD
FY25 1.4B SGD
Net income +32.8%/yr
FY20 19.3M SGD
FY21 13.9M SGD
FY22 16.7M SGD
FY23 1.9M SGD
FY25 79.9M SGD

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Cite: Fair Value Calculator (2026). "JB Foods Limited Fair Value". https://www.fairvalue-calculator.com/stock/BEW

Peer Group

Confectioners · 77 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 44 · Below median
Fair Value upside +2% · Above median
Return on equity (TTM) 33% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth -38% · Bottom 25%
Dividend yield (TTM) 5.1% · Top 25%
Debt / equity 0.19× · Higher than median

Valuation Multiples vs Confectioners median · lower = cheaper

P/E (TTM) 2.2× · Cheaper than 75% of peers
P/B 0.69× · Cheaper than median
P/S (TTM) 0.14× · Cheaper than median
EV/EBITDA 1.4× · 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 35 · sector 25
FUTURE 0 · sector 0
PAST 100 · sector 22
HEALTH 90 · sector 93
DIVIDEND 100 · sector 56

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 Confectioners stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Chocoladefabriken Lindt & Sprüngli AG LISN CHF 94,500 CHF 9,669 -90%
Mondelez International, Inc MDLZ $61.78 $27.36 -56%
The Hershey Company HSY $184.23 $91.25 -50%
Barry Callebaut AG BARN CHF 1,127 CHF 711.91 -37%
ORION Corp 271560 132,800 KRW 203,315 KRW +53%
Guangxi Yuegui Guangye Holdings 000833 ¥20.48 ¥9.09 -56%
Cloetta AB CLAB kr 54.85 kr 59.12 +8%
Balrampur Chini Mills Limited BALRAMCHIN ₹604.70 ₹304.54 -50%
PT Yupi Indo Jelly Gum Tbk YUPI 1,295 IDR 1,140 IDR -12%
ORION Holdings 001800 26,850 KRW 42,237 KRW +57%

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Frequently asked questions

Is JB Foods Limited (BEW) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.6545 SGD versus a price of 0.6450 SGD, about +1% (fairly valued).
What is the fair value of BEW?
Our model-based fair value for JB Foods Limited is 0.6545 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.6450 SGD.
What is the quality score of BEW?
JB Foods Limited has a Quality Score of 44/100. 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 JB Foods Limited (BEW)?
JB Foods Limited reported trailing-twelve-month revenue of about 1.4B SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BEW?
The net profit margin of JB Foods Limited is about 5.8%, meaning it keeps roughly 5.8% of revenue as net income. Based on the latest reported figures.
Does JB Foods Limited pay a dividend?
JB Foods Limited currently shows a dividend yield of about 5.07% 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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