XMH HOLDINGS LTD. (BQF) fair value: what the stock is really worth
As of Sep 21, 2026: fair value of XMH HOLDINGS LTD. S$0.92, price S$0.37, upside +148.7%, quality 76 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 27, 2026.
How to read this chart
60‑month range 0.0161 SGD – 1.95 SGD · fair‑value band 0.5900 SGD – 1.27 SGD · the 0.3700 SGD price screens below the 0.9200 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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XMH Holdings Ltd., an investment holding company, provides diesel engine, propulsion, and power generating solutions for customers in the marine and industrial sectors in Singapore, Indonesia, Malaysia, Vietnam, and internationally. It operates through three segments: Distribution, After-sales, and Project.
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XMH Holdings Ltd., an investment holding company, provides diesel engine, propulsion, and power generating solutions for customers in the marine and industrial sectors in Singapore, Indonesia, Malaysia, Vietnam, and internationally. It operates through three segments: Distribution, After-sales, and Project. The company offers high-speed marine diesel engines for propulsion systems, pumps, deck machines, bow thrusters, power generating sets, and portable power packs; medium-speed marine diesel engines for propulsion systems and power generating sets; low-speed marine diesel engines for propulsion systems; power generating sets for auxiliary power supply to marine vessels; and industrial diesel engines for portable power packs, deck machines, and power generating sets. It also supplies engines, general machinery, and machinery equipment for marine, agriculture, construction, and industrial use; and manufactures, imports, and exports generating sets, spare parts, and general engineering and other related products. In addition, the company trades in machinery, spare parts, and equipment; assembles and sells generators and related accessories; and provides warehouse services, as well as supporting services to land transfer, and after-sales and repair services. It offers its marine products to shipyards, vessel owners, and dealers; and hotel proprietors, building owners, and contractors. XMH Holdings Ltd. was founded in 1955 and is based in Singapore.
Stock analysis
XMH HOLDINGS LTD. (BQF) currently trades at 0.3700 SGD, while our model-based Fair Value estimate is 0.9200 SGD, implying the stock looks roughly 59.8% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 1.18 SGD per share, and 23 of the 24 models we run sit above the 0.3700 SGD price.
Bear case: the Asset-Based group reads lowest at 0.1400 SGD, and 1 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.5900 SGD (bear) to 1.27 SGD (bull), the price of 0.3700 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 76/100 (high quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
XMH HOLDINGS LTD. reported revenue of 185M SGD in FY2026 versus 71.9M SGD in FY2022, a compound +26.7%/yr. Reported net income was 31.6M SGD in FY2026, compounding +80.2%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap 262M SGD (≈ $205M) · P/E ratio 8.2 · P/S ratio 1.40 · EPS (TTM) 0.2900 SGD · Net margin 17.0% · Return on equity 33.2% · Return on assets (EBIT) 11.6% · Operating margin 19.6%.
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 81% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at 149%, BQF screens cheaper than that median.
Fair Value models
Bear 0.5900 SGDFair Value 0.9200 SGDBull 1.27 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 2026 figures (about 5 months old). Earnings retained since then (0.1239 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.9%
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.
+12.9%
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.
+23.6%
Start year 2021 (pandemic). Over 10 years: +5.5% 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.
+4.8%
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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. Basis: EBIT basis.
≈ +84.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+84.8%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘ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.1% → 18%
⚠ Rate on operating basis: 2026 sits 151% above its own trend.
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.Specialty Industrial Machinery · 789 stocks
Beats the industry median on 8/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside+148.6% · Top 25%
Profitability
Return on equity (TTM)33.2% · Top 25%
Return on assets11.7% · Top 25%
Net margin (TTM)17.0% · Top 25%
Operating margin (TTM)19.6% · Top 25%
Growth and dividend
Revenue growth−8.8% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
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Is XMH HOLDINGS LTD. (BQF) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 0.9200 SGD versus the last price from Sep 21, 2026 of 0.3700 SGD, about +149% upside (undervalued).
What is the fair value of BQF?
Our model-based fair value for XMH HOLDINGS LTD. is 0.9200 SGD (as of Sep 27, 2026), built from audited fundamentals. Last price (from Sep 21, 2026): 0.3700 SGD.
What is the quality score of BQF?
XMH HOLDINGS LTD. has a Quality Score of 76/100. 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 XMH HOLDINGS LTD. (BQF)?
Our model-based price target is the fair value of 0.9200 SGD (as of Sep 27, 2026) from 24 valuation models. Cautious scenario 0.5900 SGD, optimistic scenario 1.27 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the XMH HOLDINGS LTD. stock forecast for 2026?
Our models put fair value at 0.9200 SGD, about +149% upside versus the last price from Sep 21, 2026 of 0.3700 SGD (undervalued). Cautious scenario 0.5900 SGD, optimistic scenario 1.27 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of XMH HOLDINGS LTD. (BQF)?
XMH HOLDINGS LTD. reported trailing-twelve-month revenue of about 185M SGD (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of XMH HOLDINGS LTD. (BQF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For XMH HOLDINGS LTD. it is 0.9200 SGD per share (as of Sep 27, 2026), against a price of 0.3700 SGD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is XMH HOLDINGS LTD. stock overvalued or undervalued in 2026?
As of Sep 27, 2026, BQF trades below its calculated fair value: price 0.3700 SGD, fair value 0.9200 SGD, a gap of about +149% (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 BQF?
No. The price is what the market pays today (0.3700 SGD); the fair value is what the company's own numbers justify (0.9200 SGD). For XMH HOLDINGS LTD. the two are 0.5500 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is XMH HOLDINGS LTD. worth?
The market values XMH HOLDINGS LTD. at about 262M SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.3700 SGD; our models calculate a fair value of 0.9200 SGD per share.
What do the bullish and bearish scenarios say about BQF?
Our models span a range for XMH HOLDINGS LTD.: cautious scenario 0.5900 SGD, base 0.9200 SGD, optimistic 1.27 SGD per share (as of Sep 27, 2026, price 0.3700 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BQF?
XMH HOLDINGS LTD. trades at a price-to-earnings ratio of 8.2 (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 0.9200 SGD is built from several models across several years.
How solid is the balance sheet of XMH HOLDINGS LTD. (BQF)?
Balance-sheet figures for XMH HOLDINGS LTD. (as of Sep 27, 2026): return on equity 33.2%, debt of 0.00 per unit of equity. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is BQF from its 52-week high?
XMH HOLDINGS LTD. trades at 0.3700 SGD, about 81% below its 52-week high of 1.95 SGD and 18% above the low of 0.3142 SGD (as of Sep 21, 2026). Distance from the high says nothing about value: that is what the fair value of 0.9200 SGD is for.
Which stocks are comparable to XMH HOLDINGS LTD.?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, 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 XMH HOLDINGS LTD. stock attractive at the current price?
The data as of Sep 27, 2026: price 0.3700 SGD, calculated fair value 0.9200 SGD (+149%), Quality Score 76/100, from 24 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 BQF calculated?
We run XMH HOLDINGS LTD. through 24 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 0.9200 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. XMH HOLDINGS LTD. currently trades 60 % 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 XMH HOLDINGS LTD. (BQF)?
The latest price we hold is from Sep 21, 2026 and stands at 0.3700 SGD. Our model-based fair value is 0.9200 SGD, about +149% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with XMH HOLDINGS LTD. right now?
The rarer combination: high quality (76/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (0.5900 SGD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (0.5900 SGD to 1.27 SGD) leaves room in how you read the outcome.
Key figures of XMH HOLDINGS LTD.
How large is the market capitalisation of XMH HOLDINGS LTD. (BQF)?
The market capitalisation of XMH HOLDINGS LTD. is 262M SGD (≈ $205M). 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 XMH HOLDINGS LTD. (BQF)?
The price-to-sales ratio of XMH HOLDINGS LTD. is 1.40 (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 XMH HOLDINGS LTD. (BQF)?
Earnings per share at XMH HOLDINGS LTD. are 0.2900 SGD (price ÷ EPS = P/E 8.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of XMH HOLDINGS LTD. (BQF)?
The net margin of XMH HOLDINGS LTD. is 17.0% (fiscal year 2026). 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 XMH HOLDINGS LTD. (BQF)?
The return on equity (ROE) of XMH HOLDINGS LTD. 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 XMH HOLDINGS LTD. (BQF)?
On an EBIT basis the return on assets of XMH HOLDINGS LTD. is 11.6% (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 XMH HOLDINGS LTD. (BQF)?
The operating margin of XMH HOLDINGS LTD. is 19.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at XMH HOLDINGS LTD. (BQF)?
Revenue at XMH HOLDINGS LTD. is growing −8.8% versus a year earlier (3y avg +12.9%). 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 XMH HOLDINGS LTD. (BQF)?
Earnings per share at XMH HOLDINGS LTD. are growing +24.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does XMH HOLDINGS LTD. (BQF) generate?
The free cash flow of XMH HOLDINGS LTD. is 23.4M SGD (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does XMH HOLDINGS LTD. (BQF) carry?
The net debt of XMH HOLDINGS LTD. is 481K SGD (fiscal year 2025, ≈ 0.0 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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