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SAPPHIRE CORPORATION LIMITED (BRD) Fair Value & Analysis

Industrials · SG · Market cap 17.9M SGD (≈ $14.2M) · ISIN SG1CG4000005

What is SAPPHIRE CORPORATION LIMITED really worth?

SC SAPPHIRE CORPORATION LIMITED BRD · SG
Price0.0420 SGD
Fair Value0.0708 SGD
Upside+68.6%
Quality48/100

Below-average quality, trading 41% below our fair value of 0.0708 SGD.

As of Aug 13, 2026, the fair value of SAPPHIRE CORPORATION LIMITED is 0.0708 SGD per share against a price of 0.0420 SGD, so the fair value sits 69% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Mixed Growth (revenue 3y +70.5 %/yr)
!Thin margins · 1.0% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (4/9)
!Narrow moat 11/100
!Evidence only low, so the estimate is less certain
!Weak on past: 3 out of 100
Evidence: Low Range 0.0570 SGD – 0.0846 SGD

Fair value as of: Aug 13, 2026

From 11 valuation models · updated 23 days ago

Fair value updated Aug 13, 2026, revised from 0.0719 SGD to 0.0708 SGD (−1.5%) since Aug 9, 2026. Share price −10.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (0.0570 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.
  • Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

0.0723 SGD 0.0320 SGD Fair Value 0.0708 SGD May 2021 Sep 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 0.0320 SGD – 0.0723 SGD · fair‑value band 0.0570 SGD – 0.0846 SGD · the 0.0420 SGD price screens below the 0.0708 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

SAPPHIRE CORPORATION LIMITED (BRD) currently trades at 0.0420 SGD, while our model-based Fair Value estimate is 0.0708 SGD, implying the stock looks roughly 40.7% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of 0.5500 SGD per share, and 11 of the 11 models we run sit above the 0.0420 SGD price. Bear case: the Multiples group reads lowest at 0.2000 SGD, and 0 of the 11 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, SAPPHIRE CORPORATION LIMITED generated revenue of 484M SGD at a net margin of 1.0%. Revenue grew 29.9% year over year. It earns a return on equity of 0.8%. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.0570 SGD (bear case) to 0.0846 SGD (bull case); at 0.0420 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 32% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 69%, BRD screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Owner Earnings best evidence 0.5000 SGD 0.9100 SGD 1.61 SGD 71
Residual Income 0.8700 SGD 0.7700 SGD 0.4800 SGD 68
EV/EBITDA 0.1700 SGD 0.2000 SGD 0.2300 SGD 67
All 11 models by family
DCF Models
Owner Earnings best evidence 0.5000 SGD 0.9100 SGD 1.61 SGD 71
Earnings-Based
Graham-Dodd 0.0800 SGD 0.5700 SGD 0.8000 SGD 61
Lynch FV 0.2900 SGD 0.4200 SGD 0.5500 SGD 59
PEG = 1.0 0.2900 SGD 0.4200 SGD 0.5500 SGD 55
Multiples
P/E Multiple 0.1900 SGD 0.2500 SGD 0.3100 SGD 63
P/S Multiple 0.1500 SGD 0.2000 SGD 0.2500 SGD 58
P/B Multiple 0.1500 SGD 0.2000 SGD 0.2500 SGD 55
EV/EBITDA 0.1700 SGD 0.2000 SGD 0.2300 SGD 67
Asset-Based
NCAV (Graham) 0.7200 SGD 0.9600 SGD 1.43 SGD 54
Economic Profit
Residual Income 0.8700 SGD 0.7700 SGD 0.4800 SGD 68
Growth Earnings
Growth-Adj P/E 0.3800 SGD 0.5500 SGD 0.7100 SGD 65

Widest divergence: Asset-Based (0.9600 SGD) versus Multiples (0.2000 SGD). Highest evidence: Owner Earnings (71).

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Key figures & financial health

P/S ratio 0.04 TTM
Net margin 1.0% FY2025
Return on equity 0.8% TTM
Return on assets (EBIT) −0.7% avg 5y
Operating margin −2.8% TTM
Revenue (TTM) 484M SGD TTM
More key figures
Growth
Revenue growth (YoY) +29.9% 3y avg +70.5%
EPS growth (YoY) −25.2%
Balance sheet & cash flow
Free cash flow −47.2M SGD FY2025

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

Quality Score breakdown

Overall quality 48/100

Of which business quality 46 · Market factors (momentum, volatility) 32

Profitability 21
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 23
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Sapphire Corporation Limited, an investment management and holding company, engages in engineering, procurement, and construction business related to the land transport infrastructure and water conservancy and environmental projects in Singapore, Malaysia, and China.

Full company description

Sapphire Corporation Limited, an investment management and holding company, engages in engineering, procurement, and construction business related to the land transport infrastructure and water conservancy and environmental projects in Singapore, Malaysia, and China. The company provides property management and city redevelopment services; leasing of warehouse and equipment; as well as supply of materials for urbanisation projects. It is also involved in the wholesale, rental, and leasing of industrial machinery and other equipment. The company was formerly known as I.R.E. Corporation Limited and changed its name to Sapphire Corporation Limited in 2005. Sapphire Corporation Limited was incorporated in 1985 and is based in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SAPPHIRE CORPORATION LIMITED reported revenue of 484M CNY in FY2025 versus 114M CNY in FY2021, a compound +43.5%/yr. Reported net income was 4.9M CNY in FY2025, compounding −36.0%/yr from FY2021.

Growth Quality 50/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
484M SGD
Latest YoY
+11.8%
Avg. revenue 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.
+70.5%
Avg. revenue 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.
+156.4%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−29.5% · in SGD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−29.5%
Dividend yield0.0%
Operating margin (EBIT) 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.−20.7% (2020) → −1.6% (2025) · rising
Worst earnings drop96% (2024) · in SGD
⚠ Revenue per share shrinking 20.6%/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.
Revenue +43.5%/yr
FY21 114M CNY
FY22 97.6M CNY
FY23 69.3M CNY
FY24 433M CNY
FY25 484M CNY
Net income −36.0%/yr
FY21 29.2M CNY
FY22 30.7M CNY
FY23 11.5M CNY
FY24 1.4M CNY
FY25 4.9M CNY

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Cite: Fair Value Calculator (2026). "SAPPHIRE CORPORATION LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/BRD.SG

Peer Group

Engineering & Construction · 817 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 48 · Below median
Fair Value upside +67% · Top 25%
Return on equity (TTM) 1% · Below median
Return on assets −1% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) −3% · Bottom 25%
Revenue growth 30% · Top 25%

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/S (TTM) 0.03× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 17
FUTURE100 · sector 12
PAST3 · sector 26
HEALTH100 · sector 94
DIVIDEND0 · sector 39

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

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Quanta Services, Inc PWR $620.06 $143.92 −77%
Vinci SA DG €113.95 €185.62 +63%
Comfort Systems USA, Inc FIX $1,610 $519.97 −68%
Larsen & Toubro Limited LT ₹4,072 ₹2,196 −46%
Ferrovial N.V FER €57.28 €19.17 −67%
HOCHTIEF Aktiengesellschaft HOT €426.00 €203.87 −52%
Samsung C&T Corporation 028260 373,000 KRW 261,411 KRW −30%
EMCOR Group EME $754.16 $549.47 −27%
MasTec, Inc MTZ $241.00 $100.00 −59%
Bouygues SA EN €46.65 €65.67 +41%

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Frequently asked questions

Is SAPPHIRE CORPORATION LIMITED (BRD) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.0708 SGD versus a price of 0.0420 SGD, about +69% upside (undervalued).
What is the fair value of BRD?
Our model-based fair value for SAPPHIRE CORPORATION LIMITED is 0.0708 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price: 0.0420 SGD.
What is the quality score of BRD?
SAPPHIRE CORPORATION LIMITED has a Quality Score of 48/100. 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 SAPPHIRE CORPORATION LIMITED (BRD)?
Our model-based price target is the fair value of 0.0708 SGD (as of Aug 13, 2026) from 11 valuation models. Cautious scenario 0.0570 SGD, optimistic scenario 0.0846 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the SAPPHIRE CORPORATION LIMITED stock forecast for 2026?
Our models put fair value at 0.0708 SGD, about +69% upside versus a price of 0.0420 SGD (undervalued). Cautious scenario 0.0570 SGD, optimistic scenario 0.0846 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of SAPPHIRE CORPORATION LIMITED (BRD)?
SAPPHIRE CORPORATION LIMITED reported trailing-twelve-month revenue of about 484M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BRD?
The net profit margin of SAPPHIRE CORPORATION LIMITED is about 1.0%, meaning it keeps roughly 1.0% of revenue as net income. Based on the latest reported figures.
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