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KODA LTD (BJZ) Fair Value & Analysis

Consumer Cyclical · SG · Market cap 28.3M SGD

KL KODA LTD BJZ · SG
Price0.3000 SGD
Fair Value0.1400 SGD
Upside-53.3%
Quality62/100
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Weak Growth
Thin margins · 2.4% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Narrow moat 22/100
Evidence: High Range 0.1100 SGD – 0.1800 SGD Share as image

Fair value as of: Aug 17, 2026

From 24 valuation models · updated yesterday

A solid business, but screening 53% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (0.1800 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

0.8823 SGD 0.1900 SGD Fair Value 0.1400 SGD Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 17, 2026.

How to read this chart

60‑month range 0.1900 SGD – 0.8823 SGD · fair‑value band 0.1100 SGD – 0.1800 SGD · the 0.3000 SGD price screens above the 0.1400 SGD fair value. Dashed = 300-day average. As of Aug 17, 2026.

Full chart & analysis →

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Analysis

KODA LTD (BJZ) currently trades at 0.3000 SGD, while our model-based Fair Value estimate is 0.1400 SGD, implying the stock looks roughly 53.3% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, KODA LTD generated revenue of 54.6M SGD at a net margin of 2.4%. Revenue grew 6.8% year over year. It earns a return on equity of 2.8%. The stock trades on a trailing P/E of 15.0. Fundamentals as of Aug 17, 2026

Our scenario range runs from 0.1100 SGD (bear case) to 0.1800 SGD (bull case); at 0.3000 SGD, the current price sits above 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 19% below its 52-week high and 58% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at -53%, BJZ screens richer 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 0.1000 SGD 0.1100 SGD 0.1300 SGD 80
Residual Income 0.3500 SGD 0.3200 SGD 0.2000 SGD 76
Rev-Margin DCF 0.1200 SGD 0.1700 SGD 0.2200 SGD 74
All 24 models by family
DCF Models
FCF DCF 0.1000 SGD 0.1100 SGD 0.1300 SGD 38
Owner Earnings 0.3000 SGD 0.3700 SGD 0.4700 SGD 31
5Y Revenue Exit 0.1200 SGD 0.1700 SGD 0.2300 SGD 39
5Y EBITDA Exit 0.2500 SGD 0.3900 SGD 0.5600 SGD 41
5Y P/E Exit 0.1100 SGD 0.1500 SGD 0.1900 SGD 38
10Y Revenue Exit 0.1100 SGD 0.1400 SGD 0.1800 SGD 36
10Y EBITDA Exit 0.1800 SGD 0.2700 SGD 0.3700 SGD 37
10Y P/E Exit 0.1000 SGD 0.1300 SGD 0.1600 SGD 35
Earnings-Based
Graham-Dodd 0.0400 SGD 0.0800 SGD 0.1000 SGD 54
EPV 0.0800 SGD 0.0800 SGD 0.0900 SGD 59
Dividend Discount
Gordon GGM 0.0400 SGD 0.0500 SGD 0.0500 SGD 70
DDM Multi-Stage 0.0400 SGD 0.0500 SGD 0.0600 SGD 61
Multiples
P/E Multiple 0.1100 SGD 0.1400 SGD 0.1800 SGD 63
P/S Multiple 0.0800 SGD 0.1100 SGD 0.1400 SGD 58
P/B Multiple 0.0800 SGD 0.1100 SGD 0.1400 SGD 55
EV/EBIT 0.2100 SGD 0.2700 SGD 0.3300 SGD 53
EV/EBITDA 0.4400 SGD 0.5800 SGD 0.7200 SGD 54
EV/Revenue 0.1500 SGD 0.2100 SGD 0.2600 SGD 43
Asset-Based
NCAV (Graham) 0.2800 SGD 0.3700 SGD 0.5500 SGD 50
Growth DCF
Growth DCF 0.1000 SGD 0.1100 SGD 0.1300 SGD 80
Rev-Margin DCF 0.1200 SGD 0.1700 SGD 0.2200 SGD 74
Economic Profit
Residual Income 0.3500 SGD 0.3200 SGD 0.2000 SGD 76
ROIC Compounder 0.0800 SGD 0.0800 SGD 0.0900 SGD 72
Growth Earnings
Growth-Adj P/E 0.0800 SGD 0.1100 SGD 0.1400 SGD 68

Widest divergence: Asset-Based (0.3700 SGD) versus Dividend Discount (0.0500 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 54.6M SGD
Revenue growth (YoY) +6.8%
Net margin 2.4%
Return on equity 2.8%
Free cash flow 709K SGD FY2025
P/E ratio 15.0
More key figures
Operating margin 4.3%
EPS (TTM) 0.0200 SGD
EPS growth (YoY) +180%
Net debt 437K SGD FY2025

Figures from reported company fundamentals · as of Aug 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 61 · Market factors (momentum, volatility) 61

Profitability 30
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 75
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KODA LTD reported revenue of 52.7M SGD in FY2025 versus 82.6M SGD in FY2021, a compound −10.6%/yr. Reported net income was 547K SGD in FY2025, compounding −50.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
52.7M SGD
Latest YoY
+15.6%
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.
−12.7%
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.
−2.7%
Avg. growth/yr (11Y) ⓘ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.
+0.1%
Revenue −10.6%/yr
FY21 82.6M SGD
FY22 79.3M SGD
FY23 43.8M SGD
FY24 45.6M SGD
FY25 52.7M SGD
Net income −50.5%/yr
FY21 9.1M SGD
FY22 5.7M SGD
FY23 −2.8M SGD
FY24 −4.5M SGD
FY25 547K SGD

BJZ screens 53% overvalued. Compare with Midea Group →

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Cite: Fair Value Calculator (2026). "KODA LTD Fair Value". https://www.fairvalue-calculator.com/stock/BJZ

Peer Group

Furnishings, Fixtures & Appliances · 315 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 62 · Top 25%
Fair Value upside −53% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 1% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 7% · Above median
Dividend yield (TTM) 1.6% · Below median
Debt / equity 0.17× · Higher than median

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/E (TTM) 15.0× · Cheaper than median
P/B 0.48× · Cheaper than 75% of peers
P/S (TTM) 0.41× · Cheaper than median
P/FCF 31.2× · Pricier than 75% of peers
EV/EBITDA 6.6× · Cheaper than median

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 0 · sector 20
FUTURE 34 · sector 0
PAST 11 · sector 19
HEALTH 92 · sector 98
DIVIDEND 31 · sector 63

VALUE 0: the price sits above our fair-value range.

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Aug 17, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥84.34 ¥99.66 +18%
Gree Electric Appliances, Inc 000651 ¥40.23 ¥86.91 +116%
Haier Smart Home Co 600690 ¥21.79 ¥36.04 +65%
King Slide Works Co 2059 12,500 TWD 1,917 TWD -85%
Guangdong Songfa Ceramics Co 603268 ¥173.26 ¥38.83 -78%
Hisense Home Appliances Group 000921 ¥27.69 ¥50.62 +83%
Ecovacs Robotics Co 603486 ¥57.74 ¥54.14 -6%
Zhejiang Supor Co 002032 ¥41.68 ¥44.84 +8%
COWAY Co 021240 97,200 KRW 103,928 KRW +7%
Voltas Limited VOLTAS ₹1,290 ₹152.27 -88%

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Frequently asked questions

Is KODA LTD (BJZ) overvalued or undervalued?
As of Aug 17, 2026, our model estimates a fair value of 0.1400 SGD versus a price of 0.3000 SGD, about −53% (overvalued).
What is the fair value of BJZ?
Our model-based fair value for KODA LTD is 0.1400 SGD (as of Aug 17, 2026), built from audited fundamentals. The current price is 0.3000 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 revenue of KODA LTD (BJZ)?
KODA LTD reported trailing-twelve-month revenue of about 54.6M SGD (latest available figure, as of Aug 17, 2026).
What is the net profit margin of BJZ?
The net profit margin of KODA LTD is about 2.4%, meaning it keeps roughly 2.4% of revenue as net income. Based on the latest reported figures.

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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