KODA LTD (BJZ) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of KODA LTD S$0.18, price S$0.28, upside -35.7%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Koda Ltd designs, manufactures, sells, and export wood furniture and fixtures in the Asia-Pacific, North America, Europe, and internationally. It operates in two segments, Manufacturing, and Retail and Distribution. The company offers metal, glass, fabric, wood, stone, and leather furniture.
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Koda Ltd designs, manufactures, sells, and export wood furniture and fixtures in the Asia-Pacific, North America, Europe, and internationally. It operates in two segments, Manufacturing, and Retail and Distribution. The company offers metal, glass, fabric, wood, stone, and leather furniture. It sells furniture to the wholesale market and directly to customers through retail outlets. Koda Ltd was founded in 1972 and is headquartered in Singapore.
Stock analysis
KODA LTD (BJZ) currently trades at 0.2800 SGD, while our model-based Fair Value estimate is 0.1800 SGD, 35.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 0.4700 SGD per share, and 7 of the 22 models we run sit above the 0.2800 SGD price.
Bear case: the Earnings-Based group reads lowest at 0.1100 SGD, and 15 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.1400 SGD (bear) to 0.2300 SGD (bull), the price of 0.2800 SGD sits above 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 62/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
KODA LTD reported revenue of $52.7M in FY2025 versus $82.6M in FY2021, a compound −10.6%/yr. Reported net income was $547K in FY2025, compounding −50.5%/yr from FY2021.
Key figures
Market cap 28.3M SGD (≈ $22.1M) · P/E ratio 14.0 · P/S ratio 0.15 · EPS (TTM) 0.0200 SGD · Net margin 1.0% · Return on equity 2.8% · Return on assets (EBIT) 3.1% · Operating margin 4.3%.
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 24% below its 52-week high and 33% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 29% fair-value upside, at −36%, BJZ screens richer than that median.
Fair Value models
Bear 0.1400 SGDFair Value 0.1800 SGDBull 0.2300 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 (0.0200 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+15.6%
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.
−12.7%
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.
−2.7%
Start year 2020 (pandemic). Over 10 years: +1.1% 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.
+0.1%
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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.
−36.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−36.6%
Dividend (yield on the price)0.0%
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.8% → 2%
⚠ Revenue per share shrinking 2.5%/yr over ~6Y (margins eroding too) ⓘ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
A lot of optimism in the price
The price assumes more 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).
+3.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +0.9% 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.Furnishings, Fixtures & Appliances · 303 stocks
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). "KODA LTD Fair Value". https://www.fairvalue-calculator.com/stock/BJZ
Frequently asked questions
Is KODA LTD (BJZ) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 0.1800 SGD versus a price of 0.2800 SGD, about −36% upside (overvalued).
What is the fair value of BJZ?
Our model-based fair value for KODA LTD is 0.1800 SGD (as of Sep 27, 2026), built from audited fundamentals. The current price: 0.2800 SGD.
What is the quality score of BJZ?
KODA LTD has a Quality Score of 62/100. 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 KODA LTD (BJZ)?
Our model-based price target is the fair value of 0.1800 SGD (as of Sep 27, 2026) from 22 valuation models. Cautious scenario 0.1400 SGD, optimistic scenario 0.2300 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the KODA LTD stock forecast for 2026?
Our models put fair value at 0.1800 SGD, about −36% upside versus a price of 0.2800 SGD (overvalued). Cautious scenario 0.1400 SGD, optimistic scenario 0.2300 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of KODA LTD (BJZ)?
KODA LTD reported trailing-twelve-month revenue of about $54.6M (latest available figure, as of Sep 27, 2026).
What growth is priced into KODA LTD (BJZ)?
For today's price to be fair in a discounted-cash-flow model, KODA LTD would have to grow free cash flow by +3.3 % 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 -2.7 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of BJZ use?
Our models discount KODA LTD at 8.3 %: a base by market capitalisation (nano), damped by beta 0.23, 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 KODA LTD that is +3.3 % 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 KODA LTD (BJZ) delivered so far?
Over the past 5 years revenue at KODA LTD grew -2.7 % a year. The price currently implies +3.3 % 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 KODA LTD (BJZ) growing?
The median revenue growth in the sector is +3.2 % a year. That is the yardstick for the growth priced into KODA LTD (+3.3 % 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 KODA LTD (BJZ)?
The free-cash-flow yield on the price is 3.90 %: that much free cash flow KODA 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 KODA LTD (BJZ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KODA LTD it is 0.1800 SGD per share (as of Sep 27, 2026), against a price of 0.2800 SGD. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is KODA LTD stock overvalued or undervalued in 2026?
As of Sep 27, 2026, BJZ trades above its calculated fair value: price 0.2800 SGD, fair value 0.1800 SGD, a gap of about −36% (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 BJZ?
No. The price is what the market pays today (0.2800 SGD); the fair value is what the company's own numbers justify (0.1800 SGD). For KODA LTD the two are 0.1000 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is KODA LTD worth?
The market values KODA LTD at about 28.3M SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.2800 SGD; our models calculate a fair value of 0.1800 SGD per share.
What do the bullish and bearish scenarios say about BJZ?
Our models span a range for KODA LTD: cautious scenario 0.1400 SGD, base 0.1800 SGD, optimistic 0.2300 SGD per share (as of Sep 27, 2026, price 0.2800 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BJZ?
KODA LTD trades at a price-to-earnings ratio of 14.0 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.1800 SGD is built from several models across several years. Other multiples: P/B 0.5, P/S 0.4, EV/EBITDA 6.6.
How solid is the balance sheet of KODA LTD (BJZ)?
Balance-sheet figures for KODA LTD (as of Sep 27, 2026): return on equity 2.8%, debt of 0.17 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is BJZ from its 52-week high?
KODA LTD trades at 0.2800 SGD, about 24% below its 52-week high of 0.3700 SGD and 33% above the low of 0.2100 SGD (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of 0.1800 SGD is for.
Which stocks are comparable to KODA LTD?
From the same area (Consumer Cyclical) we also value Midea Group, King Slide Works Co, Gree Electric Appliances, Inc, Haier Smart Home Co, 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 KODA LTD stock attractive at the current price?
The data as of Sep 27, 2026: price 0.2800 SGD, calculated fair value 0.1800 SGD (−36%), Quality Score 62/100, from 22 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 BJZ calculated?
We run KODA LTD through 22 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 0.1800 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 14.5 % above its aggregate fair value. KODA LTD 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 KODA LTD (BJZ)?
The closing price on Sep 30, 2026 was 0.2800 SGD. Our model-based fair value is 0.1800 SGD, about −36% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KODA LTD right now?
The price sits above even our optimistic bull case (0.2300 SGD). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of KODA LTD
How large is the market capitalisation of KODA LTD (BJZ)?
The market capitalisation of KODA LTD is 28.3M SGD (≈ $22.1M). 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 KODA LTD (BJZ)?
The price-to-sales ratio of KODA LTD 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 KODA LTD (BJZ)?
Earnings per share at KODA LTD are 0.0200 SGD (price ÷ EPS = P/E 14.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of KODA LTD (BJZ)?
The net margin of KODA LTD is 1.0% (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 KODA LTD (BJZ)?
The return on equity (ROE) of KODA LTD is 2.8% (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 KODA LTD (BJZ)?
On an EBIT basis the return on assets of KODA LTD is 3.1% (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 KODA LTD (BJZ)?
The operating margin of KODA LTD is 4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KODA LTD (BJZ)?
Revenue at KODA LTD is growing +6.8% versus a year earlier (3y avg −12.7%). 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 KODA LTD (BJZ)?
Earnings per share at KODA LTD are growing +180% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does KODA LTD (BJZ) carry?
The net debt of KODA LTD is $437K (fiscal year 2025, ≈ 0.6 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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