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SIN HENG HEAVY MACHINERY LTD (BKA) Fair Value & Analysis

Industrials · SG · Market cap 66.3M SGD

SH SIN HENG HEAVY MACHINERY LTD BKA · SG
Price0.5450 SGD
Fair Value0.9400 SGD
Upside+72.5%
Quality69/100
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Weak Growth
Solidly profitable · 11.6% net margin
Low debt · generates free cash flow
1.59% dividend yield
Mixed vs. peers (8/14)
Moderate moat 46/100
Evidence: High Range 0.7400 SGD – 1.11 SGD Share as image

Fair value as of: Aug 13, 2026

From 22 valuation models · updated 4 days ago

Share price −6.0% over the past month.

A solid business, screening 72% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.7400 SGD). The market is more pessimistic than our downside scenario.
  • Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

0.6976 SGD 0.1774 SGD Fair Value 0.9400 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 0.1774 SGD – 0.6976 SGD · fair‑value band 0.7400 SGD – 1.11 SGD · the 0.5450 SGD price screens below the 0.9400 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

SIN HENG HEAVY MACHINERY LTD (BKA) currently trades at 0.5450 SGD, while our model-based Fair Value estimate is 0.9400 SGD, implying the stock looks roughly 72.5% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Industrials 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, SIN HENG HEAVY MACHINERY LTD generated revenue of 44.1M SGD at a net margin of 11.6%. Revenue declined 22.2% year over year. It earns a return on equity of 4.9%. The stock trades on a trailing P/E of 10.9. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.7400 SGD (bear case) to 1.11 SGD (bull case); at 0.5450 SGD, the current price sits below 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 22% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -16% fair-value upside, at 72%, BKA 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
Growth DCF 0.7200 SGD 0.8100 SGD 0.9300 SGD 80
Residual Income 0.6500 SGD 0.6300 SGD 0.5200 SGD 76
Rev-Margin DCF 0.7300 SGD 0.9000 SGD 1.10 SGD 74
All 22 models by family
DCF Models
FCF DCF 0.7200 SGD 0.8000 SGD 0.9500 SGD 38
Owner Earnings 1.10 SGD 1.29 SGD 1.60 SGD 31
5Y Revenue Exit 0.7300 SGD 0.8900 SGD 1.11 SGD 39
5Y EBITDA Exit 0.9700 SGD 1.30 SGD 1.74 SGD 41
5Y P/E Exit 0.8700 SGD 1.12 SGD 1.42 SGD 38
10Y Revenue Exit 0.7100 SGD 0.8200 SGD 0.9200 SGD 36
10Y EBITDA Exit 0.8500 SGD 1.04 SGD 1.24 SGD 37
10Y P/E Exit 0.7900 SGD 0.9400 SGD 1.08 SGD 35
Earnings-Based
Graham-Dodd 0.3200 SGD 0.3900 SGD 0.4400 SGD 54
EPV 0.6500 SGD 0.6800 SGD 0.7100 SGD 59
Multiples
P/E Multiple 0.7400 SGD 0.9900 SGD 1.23 SGD 63
P/S Multiple 0.6000 SGD 0.8000 SGD 1.00 SGD 58
P/B Multiple 0.6000 SGD 0.8000 SGD 1.00 SGD 55
EV/EBIT 0.9500 SGD 1.14 SGD 1.33 SGD 53
EV/EBITDA 1.35 SGD 1.67 SGD 2.00 SGD 54
EV/Revenue 0.7800 SGD 0.9600 SGD 1.14 SGD 43
Asset-Based
NCAV (Graham) 0.4700 SGD 0.6300 SGD 0.9400 SGD 50
Growth DCF
Growth DCF 0.7200 SGD 0.8100 SGD 0.9300 SGD 80
Rev-Margin DCF 0.7300 SGD 0.9000 SGD 1.10 SGD 74
Economic Profit
Residual Income 0.6500 SGD 0.6300 SGD 0.5200 SGD 76
ROIC Compounder 0.6500 SGD 0.6800 SGD 0.7100 SGD 72
Growth Earnings
Growth-Adj P/E 0.5200 SGD 0.7500 SGD 0.9700 SGD 68

Widest divergence: Multiples (0.9600 SGD) versus Earnings-Based (0.3900 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 44.1M SGD
Revenue growth (YoY) -22.2%
Net margin 11.6%
Return on equity 4.9%
Free cash flow 5.2M SGD FY2025
P/E ratio 10.9
More key figures
Operating margin 9.0%
EPS (TTM) 0.0500 SGD
Dividend yield 1.6%
EPS growth (YoY) -4.7%

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

Quality Score breakdown

Overall quality 69/100

Of which business quality 68 · Market factors (momentum, volatility) 37

Profitability 32
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 89
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

Sin Heng Heavy Machinery Limited, together with its subsidiaries, provides heavy lifting services in Singapore, Indonesia, Malaysia, Taiwan, Brunei, India, the United Arab Emirates, Dubai, Vietnam, and internationally. The company operates through three segments: Equipment Rental, Trading, and Others.

Full company description

Sin Heng Heavy Machinery Limited, together with its subsidiaries, provides heavy lifting services in Singapore, Indonesia, Malaysia, Taiwan, Brunei, India, the United Arab Emirates, Dubai, Vietnam, and internationally. The company operates through three segments: Equipment Rental, Trading, and Others. It engages in the rental, servicing, and trading of crawler, all and rough terrain, truck, and self-erecting cranes; and aerial lifts, including boom and scissor lifts. The company is also involved in turnkey project engineering services; sale and distribution of spare parts for cranes and aerial lifts; hiring and dealing in cranes and heavy machinery; and provision of facilities and custody services. It serves infrastructure and geotechnic, construction, offshore and marine, and oil and gas industries. The company was founded in 1969 and is headquartered in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SIN HENG HEAVY MACHINERY LTD reported revenue of 44.1M SGD in FY2025 versus 53.7M SGD in FY2021, a compound −4.8%/yr. Reported net income was 5.1M SGD in FY2025, compounding +7.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
44.1M SGD
Latest YoY
−12.3%
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.
−5.1%
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.
−3.7%
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.
−12.3%
Revenue −4.8%/yr
FY21 53.7M SGD
FY22 51.6M SGD
FY23 66.2M SGD
FY24 50.3M SGD
FY25 44.1M SGD
Net income +7.9%/yr
FY21 3.8M SGD
FY22 3.7M SGD
FY23 8.0M SGD
FY24 6.3M SGD
FY25 5.1M SGD

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Cite: Fair Value Calculator (2026). "SIN HENG HEAVY MACHINERY LTD Fair Value". https://www.fairvalue-calculator.com/stock/BKA

Peer Group

Farm & Heavy Construction Machinery · 150 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 69 · Top 25%
Fair Value upside +73% · Top 25%
Return on equity (TTM) 5% · Below median
Return on assets 2% · Below median
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 9% · Above median
Revenue growth -22% · Bottom 25%
Dividend yield (TTM) 1.6% · Below median

Valuation Multiples vs Farm & Heavy Construction Machinery median · lower = cheaper

P/E (TTM) 10.9× · Cheaper than 75% of peers
P/B 0.51× · Cheaper than 75% of peers
P/S (TTM) 1.18× · Pricier than median
P/FCF 10.1× · Pricier than median
EV/EBITDA 1.1× · 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 100 · sector 21
FUTURE 0 · sector 31
PAST 20 · sector 34
HEALTH 100 · sector 93
DIVIDEND 32 · sector 45

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 Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Caterpillar Inc CAT $855.60 $307.83 -64%
Deere & Company DE $619.77 $182.29 -71%
AB Volvo (publ), VOLVA kr 344.00 kr 288.08 -16%
PACCAR Inc PCAR $131.06 $94.80 -28%
Epiroc AB EPIA kr 254.50 kr 144.14 -43%
Sany Heavy Industry Co 600031 ¥18.91 ¥20.84 +10%
XCMG Construction Machinery Co 000425 ¥8.25 ¥11.79 +43%
Sinotruk (Hong Kong) Limited 3808 HK$41.42 HK$53.57 +29%
Yutong Bus Co 600066 ¥28.69 ¥42.00 +46%
Ashok Leyland Limited ASHOKLEY ₹176.70 ₹118.01 -33%

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Frequently asked questions

Is SIN HENG HEAVY MACHINERY LTD (BKA) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.9400 SGD versus a price of 0.5450 SGD, about +72% (undervalued).
What is the fair value of BKA?
Our model-based fair value for SIN HENG HEAVY MACHINERY LTD is 0.9400 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.5450 SGD.
What is the quality score of BKA?
SIN HENG HEAVY MACHINERY LTD has a Quality Score of 69/100. 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 SIN HENG HEAVY MACHINERY LTD (BKA)?
SIN HENG HEAVY MACHINERY LTD reported trailing-twelve-month revenue of about 44.1M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BKA?
The net profit margin of SIN HENG HEAVY MACHINERY LTD is about 11.6%, meaning it keeps roughly 11.6% of revenue as net income. Based on the latest reported figures.
Does SIN HENG HEAVY MACHINERY LTD pay a dividend?
SIN HENG HEAVY MACHINERY LTD currently shows a dividend yield of about 1.59% 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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