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VALUETRONICS HOLDINGS LIMITED (BN2) Fair Value & Analysis

Technology · SG · Market cap 443M SGD

VH VALUETRONICS HOLDINGS LIMITED BN2 · SG
Price1.04 SGD
Fair Value1.30 SGD
Upside+25.0%
Quality69/100
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Weak Growth
Thin margins · 7.1% net margin
generates free cash flow
16.67% dividend yield
Ranks above peers (9/10)
Narrow moat 40/100
Evidence: High Range 0.9800 SGD – 1.63 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 1.14 SGD to 1.30 SGD (+14.0%) since Aug 9, 2026. Share price −4.6% over the past month.

A solid business, screening 25% undervalued on our models.

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What matters now

  • Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from 0.9800 SGD (bear) to 1.63 SGD (bull), base 1.30 SGD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 69/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

1.18 SGD 0.3553 SGD Fair Value 1.30 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 0.3553 SGD – 1.18 SGD · fair‑value band 0.9800 SGD – 1.63 SGD · the 1.04 SGD price screens below the 1.30 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

VALUETRONICS HOLDINGS LIMITED (BN2) currently trades at 1.04 SGD, while our model-based Fair Value estimate is 1.30 SGD, implying the stock looks roughly 25.0% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Technology 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, VALUETRONICS HOLDINGS LIMITED generated revenue of 1.7B SGD at a net margin of 7.1%. Revenue declined 5.0% year over year. It earns a return on equity of 7.6%. The stock trades on a trailing P/E of 20.8. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.9800 SGD (bear case) to 1.63 SGD (bull case); at 1.04 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 14% below its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -68% fair-value upside, at 25%, BN2 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 2.84 SGD 3.01 SGD 3.16 SGD 76
Growth DCF 6.61 SGD 7.63 SGD 9.20 SGD 72
Gordon GGM 2.09 SGD 2.25 SGD 2.50 SGD 70
All 24 models by family
DCF Models
FCF DCF 6.49 SGD 7.57 SGD 9.37 SGD 38
Owner Earnings 5.29 SGD 5.99 SGD 7.18 SGD 31
5Y Revenue Exit 5.97 SGD 7.14 SGD 8.84 SGD 39
5Y EBITDA Exit 7.29 SGD 9.41 SGD 12.23 SGD 41
5Y P/E Exit 7.40 SGD 9.61 SGD 12.24 SGD 38
10Y Revenue Exit 6.12 SGD 6.95 SGD 7.82 SGD 36
10Y EBITDA Exit 6.91 SGD 8.23 SGD 9.64 SGD 37
10Y P/E Exit 6.97 SGD 8.34 SGD 9.65 SGD 35
Earnings-Based
Graham-Dodd 1.94 SGD 2.38 SGD 2.67 SGD 54
EPV 5.21 SGD 5.51 SGD 5.77 SGD 59
Dividend Discount
Gordon GGM 2.09 SGD 2.25 SGD 2.50 SGD 70
DDM Multi-Stage 2.09 SGD 2.49 SGD 3.00 SGD 61
Multiples
P/E Multiple 6.00 SGD 8.00 SGD 10.00 SGD 63
P/S Multiple 3.64 SGD 4.86 SGD 6.07 SGD 58
P/B Multiple 3.64 SGD 4.86 SGD 6.07 SGD 55
EV/EBIT 8.57 SGD 10.44 SGD 12.31 SGD 53
EV/EBITDA 8.73 SGD 10.65 SGD 12.57 SGD 54
EV/Revenue 5.80 SGD 7.01 SGD 8.23 SGD 43
Asset-Based
NCAV (Graham) 1.79 SGD 2.40 SGD 3.59 SGD 50
Growth DCF
Growth DCF 6.61 SGD 7.63 SGD 9.20 SGD 72
Rev-Margin DCF 5.97 SGD 7.24 SGD 8.81 SGD 67
Economic Profit
Residual Income 2.84 SGD 3.01 SGD 3.16 SGD 76
ROIC Compounder 5.21 SGD 5.57 SGD 5.90 SGD 67
Growth Earnings
Growth-Adj P/E 4.20 SGD 6.00 SGD 7.80 SGD 68

Widest divergence: DCF Models (7.57 SGD) versus Dividend Discount (2.25 SGD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.7B SGD
Revenue growth (YoY) -5.0%
Net margin 7.1%
Return on equity 7.6%
Free cash flow 178M SGD FY2026
P/E ratio 20.8
More key figures
Operating margin 11.7%
EPS (TTM) 0.0500 SGD
EPS growth (YoY) -69.8%

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 69 · Market factors (momentum, volatility) 69

Profitability 39
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 85
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

Valuetronics Holdings Limited, an investment holding company, provides integrated electronics manufacturing services (EMS) in the United States, the People's Republic of China, Canada, Poland, Hong Kong, the Netherlands, Indonesia, France, Taiwan, South Korea, Germany, and internationally.

Full company description

Valuetronics Holdings Limited, an investment holding company, provides integrated electronics manufacturing services (EMS) in the United States, the People's Republic of China, Canada, Poland, Hong Kong, the Netherlands, Indonesia, France, Taiwan, South Korea, Germany, and internationally. It operates through two segments, Consumer Electronics; and Industrial and Commercial Electronics. The company offers engineering services comprising mechanical design services, including industrial design, rapid prototyping (SLA, FDM), motion mechanisms, and packaging design, as well as plastic and metal parts, and enclosures; plastic tool design services consisting of 2D/3D design, mold flow analysis, and plastic and over-mold parts; electronics, RF, and software design; regulatory compliance engineering and testing; and product test development services, such as design-for-test, in-circuit-test, custom functional test, and in-house test fixtures design and fabrication. It also provides manufacturing services comprising plastic tool fabrication and injection molding; printed circuit board assemblies; sub-assemblies and complete box build; reliability engineering and testing; quality systems; materials procurement; and program management. In addition, the company offers supply chain support services, including in-house logistics to manage shipment of products to final destinations; product customization and drop shipment; spare parts inventory and shipment; and direct fulfillment programs. Further, it provides trading and business services; and holds properties. The company serves multinational and mid-size companies in the automotive, telecommunications and networking, industrial, commercial, energy saving, and consumer fields. Valuetronics Holdings Limited was founded in 1992 and is headquartered in Sha Tin, Hong Kong.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

VALUETRONICS HOLDINGS LIMITED reported revenue of 1.7B SGD in FY2026 versus 2.0B SGD in FY2022, a compound −4.9%/yr. Reported net income was 117M SGD in FY2026, compounding +0.8%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
1.7B SGD
Latest YoY
−4.0%
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.
−6.2%
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.
−6.2%
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.
−3.1%
Revenue −4.9%/yr
FY22 2.0B SGD
FY23 2.0B SGD
FY24 1.7B SGD
FY25 1.7B SGD
FY26 1.7B SGD
Net income +0.8%/yr
FY22 114M SGD
FY23 123M SGD
FY24 160M SGD
FY25 170M SGD
FY26 117M SGD

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Cite: Fair Value Calculator (2026). "VALUETRONICS HOLDINGS LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/BN2

Peer Group

Electronic Components · 645 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 +25% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth -5% · Below median
Dividend yield (TTM) 16.7% · Top 25%

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 20.8× · Cheaper than 75% of peers
P/FCF 1.9× · 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 67 · sector 0
FUTURE 0 · sector 36
PAST 30 · sector 24
HEALTH 0 · sector 95
DIVIDEND 100 · sector 26

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

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,790 TWD 602.37 TWD -66%
Luxshare Precision Industry Co 002475 ¥56.06 ¥38.44 -31%
Samsung Electro-Mechanics Co 009150 1,503,000 KRW 172,954 KRW -88%
Suzhou Dongshan Precision Manufacturing Co 002384 ¥202.11 ¥21.19 -90%
Shengyi Technology Co 600183 ¥143.23 ¥36.30 -75%
Shennan Circuits Co 002916 ¥392.90 ¥125.52 -68%
Victory Giant Technology (HuiZhou) Co 2476 HK$238.60 HK$75.68 -68%
Kingboard Laminates Holdings 1888 HK$38.70 HK$8.95 -77%
Asia Vital Components Co 3017 2,910 TWD 1,369 TWD -53%
Nan Ya Printed Circuit Board Corporation 8046 1,215 TWD 1,768 TWD +46%

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Frequently asked questions

Is VALUETRONICS HOLDINGS LIMITED (BN2) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.30 SGD versus a price of 1.04 SGD, about +25% (undervalued).
What is the fair value of BN2?
Our model-based fair value for VALUETRONICS HOLDINGS LIMITED is 1.30 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 1.04 SGD.
What is the quality score of BN2?
VALUETRONICS HOLDINGS LIMITED 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 VALUETRONICS HOLDINGS LIMITED (BN2)?
VALUETRONICS HOLDINGS LIMITED reported trailing-twelve-month revenue of about 1.7B SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BN2?
The net profit margin of VALUETRONICS HOLDINGS LIMITED is about 7.1%, meaning it keeps roughly 7.1% 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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