JB FOODS LIMITED (BEW) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of JB FOODS LIMITED S$2.86, price S$0.76, upside +278.8%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range 0.3934 SGD – 0.7750 SGD · fair‑value band 1.53 SGD – 6.04 SGD · the 0.7550 SGD price screens below the 2.86 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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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.
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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.
Stock analysis
JB FOODS LIMITED (BEW) currently trades at 0.7550 SGD, while our model-based Fair Value estimate is 2.86 SGD, implying the stock looks roughly 73.6% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 5.42 SGD per share, and 14 of the 15 models we run sit above the 0.7550 SGD price.
Bear case: the Asset-Based group reads lowest at 0.5400 SGD, and 1 of the 15 models stay below the price. Evidence for this calculation is low.
Scenario range: 1.53 SGD (bear) to 6.04 SGD (bull), the price of 0.7550 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 44/100 (below-average quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
JB FOODS LIMITED reported revenue of $1.4B in FY2025 versus $418M in FY2020, a compound +27.1%/yr. Reported net income was $79.9M in FY2025, compounding +32.8%/yr from FY2020.
Key figures
Market cap 262M SGD (≈ $204M) · P/E ratio 2.5 · P/S ratio 0.15 · EPS (TTM) 0.3000 SGD · Dividend yield 4.8% · Net margin 5.8% · Return on equity 33.2% · Return on assets (EBIT) 6.1%.
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 8% below its 52-week high and 87% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −43% fair-value upside, at 279%, BEW screens cheaper than that median.
Fair Value models
Bear 1.53 SGDFair Value 2.86 SGDBull 6.04 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 (0.1931 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.55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
+39.6%
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.
+27.1%
Start year 2020 (pandemic). Over 10 years: +19.9% 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.
+7.1%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+10.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.8%
Dividend (yield on the price)4.8%
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.5% → 10%
2025 sits 653% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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.Confectioners · 77 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside+200% · Top 25%
Profitability
Return on equity (TTM)33% · Top 25%
Return on assets8% · Top 25%
Net margin (TTM)6% · Above median
Operating margin (TTM)8% · Above median
Growth and dividend
Revenue growth−38% · Bottom 25%
Dividend yield (TTM)4.8% · Top 25%
Balance sheet
Debt / equity0.19× · Below median
Valuation Multiplesvs Confectioners median · lower = cheaper
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Is JB FOODS LIMITED (BEW) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 2.86 SGD versus a price of 0.7550 SGD, about +279% upside (undervalued).
What is the fair value of BEW?
Our model-based fair value for JB FOODS LIMITED is 2.86 SGD (as of Sep 23, 2026), built from audited fundamentals. The current price: 0.7550 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 price target for JB FOODS LIMITED (BEW)?
Our model-based price target is the fair value of 2.86 SGD (as of Sep 23, 2026) from 15 valuation models. Cautious scenario 1.53 SGD, optimistic scenario 6.04 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the JB FOODS LIMITED stock forecast for 2026?
Our models put fair value at 2.86 SGD, about +279% upside versus a price of 0.7550 SGD (undervalued). Cautious scenario 1.53 SGD, optimistic scenario 6.04 SGD. The calculation is refreshed regularly with new filings.
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 Sep 23, 2026).
Does JB FOODS LIMITED pay a dividend?
JB FOODS LIMITED currently shows a dividend yield of about 4.77% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of JB FOODS LIMITED (BEW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For JB FOODS LIMITED it is 2.86 SGD per share (as of Sep 23, 2026), against a price of 0.7550 SGD. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is JB FOODS LIMITED stock overvalued or undervalued in 2026?
As of Sep 23, 2026, BEW trades below its calculated fair value: price 0.7550 SGD, fair value 2.86 SGD, a gap of about +279% (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 BEW?
No. The price is what the market pays today (0.7550 SGD); the fair value is what the company's own numbers justify (2.86 SGD). For JB FOODS LIMITED the two are 2.11 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is JB FOODS LIMITED worth?
The market values JB FOODS LIMITED at about 262M SGD (market capitalisation, as of Sep 23, 2026). Per share that is 0.7550 SGD; our models calculate a fair value of 2.86 SGD per share.
What do the bullish and bearish scenarios say about BEW?
Our models span a range for JB FOODS LIMITED: cautious scenario 1.53 SGD, base 2.86 SGD, optimistic 6.04 SGD per share (as of Sep 23, 2026, price 0.7550 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BEW?
JB FOODS LIMITED trades at a price-to-earnings ratio of 2.5 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2.86 SGD is built from several models across several years. Other multiples: P/B 0.7, P/S 0.1, EV/EBITDA 1.5.
How solid is the balance sheet of JB FOODS LIMITED (BEW)?
Balance-sheet figures for JB FOODS LIMITED (as of Sep 23, 2026): return on equity 33.2%, debt of 0.19 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is BEW from its 52-week high?
JB FOODS LIMITED trades at 0.7550 SGD, about 8% below its 52-week high of 0.8200 SGD and 87% above the low of 0.4034 SGD (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2.86 SGD is for.
Which stocks are comparable to JB FOODS LIMITED?
From the same area (Consumer Defensive) we also value Mondelez International, Inc, The Hershey Company, Chocoladefabriken Lindt & Sprüngli AG, Barry Callebaut AG, 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 JB FOODS LIMITED stock attractive at the current price?
The data as of Sep 23, 2026: price 0.7550 SGD, calculated fair value 2.86 SGD (+279%), Quality Score 44/100, from 15 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 BEW calculated?
We run JB FOODS LIMITED through 15 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 2.86 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 14.1 % above its aggregate fair value. JB FOODS LIMITED currently trades 279 % 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 JB FOODS LIMITED (BEW)?
The closing price on Sep 22, 2026 was 0.7550 SGD. Our model-based fair value is 2.86 SGD, about +279% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with JB FOODS LIMITED right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (1.53 SGD). The market is more pessimistic than our downside scenario. The model range is unusually wide (1.53 SGD to 6.04 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of JB FOODS LIMITED
How large is the market capitalisation of JB FOODS LIMITED (BEW)?
The market capitalisation of JB FOODS LIMITED is 262M SGD (≈ $204M). 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 JB FOODS LIMITED (BEW)?
The price-to-sales ratio of JB FOODS LIMITED is 0.15 (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 JB FOODS LIMITED (BEW)?
Earnings per share at JB FOODS LIMITED are 0.3000 SGD (price ÷ EPS = P/E 2.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of JB FOODS LIMITED (BEW)?
The dividend yield of JB FOODS LIMITED is 4.8% (payout 12.0%). 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 JB FOODS LIMITED (BEW)?
The net margin of JB FOODS LIMITED is 5.8% (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 JB FOODS LIMITED (BEW)?
The return on equity (ROE) of JB FOODS LIMITED is 33.2% (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 JB FOODS LIMITED (BEW)?
On an EBIT basis the return on assets of JB FOODS LIMITED is 6.1% (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 JB FOODS LIMITED (BEW)?
The operating margin of JB FOODS LIMITED is 8.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at JB FOODS LIMITED (BEW)?
Revenue at JB FOODS LIMITED is growing −37.6% versus a year earlier (3y avg +45.6%). 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 JB FOODS LIMITED (BEW)?
Earnings per share at JB FOODS LIMITED are growing −38.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does JB FOODS LIMITED (BEW) generate?
The free cash flow of JB FOODS LIMITED is −45.2M SGD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does JB FOODS LIMITED (BEW) carry?
The net debt of JB FOODS LIMITED is 221M SGD (fiscal year 2025). 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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