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CDW HOLDING LIMITED (BXE) Fair Value & Analysis

Technology · SG · Market cap 19.6M SGD

CH CDW HOLDING LIMITED BXE · SG
Price0.0820 SGD
Fair Value0.1488 SGD
Upside+81.5%
Quality60/100
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Weak Growth
Loss-making · -3.0% net margin
Low debt · generates free cash flow
5.33% dividend yield
Mixed vs. peers (6/13)
Narrow moat 14/100
Evidence: Low Range 0.1318 SGD – 0.1658 SGD Share as image

Fair value as of: Aug 13, 2026

From 7 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 0.1440 SGD to 0.1488 SGD (+3.3%) since Aug 9, 2026. Share price −3.5% over the past month.

A solid business, screening 81% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.1318 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 (60/100) 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)

0.2224 SGD 0.0700 SGD Fair Value 0.1488 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 0.0700 SGD – 0.2224 SGD · fair‑value band 0.1318 SGD – 0.1658 SGD · the 0.0820 SGD price screens below the 0.1488 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

CDW HOLDING LIMITED (BXE) currently trades at 0.0820 SGD, while our model-based Fair Value estimate is 0.1488 SGD, implying the stock looks roughly 81.5% undervalued today. The Quality Score stands at 60/100 (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: low), always confirm before acting.

Over the trailing twelve months, CDW HOLDING LIMITED generated revenue of 87.4M SGD at a net margin of -3.0%. Revenue grew 5.0% year over year. It earns a return on equity of -7.0%. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.1318 SGD (bear case) to 0.1658 SGD (bull case); at 0.0820 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 49% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -72% fair-value upside, at 81%, BXE 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 0.1300 SGD 0.1400 SGD 0.1500 SGD 80
Rev-Margin DCF 0.1300 SGD 0.1500 SGD 0.1700 SGD 74
NCAV (Graham) 0.0900 SGD 0.1200 SGD 0.1800 SGD 50
All 7 models by family
DCF Models
FCF DCF 0.1300 SGD 0.1400 SGD 0.1500 SGD 38
5Y Revenue Exit 0.1300 SGD 0.1500 SGD 0.1700 SGD 39
10Y Revenue Exit 0.1300 SGD 0.1400 SGD 0.1500 SGD 36
Multiples
EV/Revenue 0.1400 SGD 0.1600 SGD 0.1800 SGD 43
Asset-Based
NCAV (Graham) 0.0900 SGD 0.1200 SGD 0.1800 SGD 50
Growth DCF
Growth DCF 0.1300 SGD 0.1400 SGD 0.1500 SGD 80
Rev-Margin DCF 0.1300 SGD 0.1500 SGD 0.1700 SGD 74

Widest divergence: Multiples (0.1600 SGD) versus Asset-Based (0.1200 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 87.4M SGD
Revenue growth (YoY) +5.0%
Net margin -3.0%
Return on equity -7.0%
Free cash flow 1.1M SGD FY2025
Operating margin -3.8%
More key figures
EPS (TTM) -0.0200 SGD
Dividend yield 5.3%
EPS growth (YoY) +293%

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 24

Profitability 28
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 24
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 81
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

CDW Holding Limited, an investment holding company, produces and supplies precision components in Mainland China, Hong Kong, Japan, and internationally. It operates through LCD Backlight Units, Office Automation, OEM and Accessories, and Others segments.

Full company description

CDW Holding Limited, an investment holding company, produces and supplies precision components in Mainland China, Hong Kong, Japan, and internationally. It operates through LCD Backlight Units, Office Automation, OEM and Accessories, and Others segments. The company offers small to medium sized LCD backlight units and flexible printed circuits for use in range of equipment, including mobile communication, consumer IT, and entertainment equipment; and small to large sized high precision metal and plastic frames and reflectors for a range of equipment, such as notebook monitors, mobile phones, game box entertainment equipment, and GPS navigators. It also provides customized labels, shock absorbers, insulators, and other precision accessories for various office equipment and electrical appliances, including photocopiers, printers, TV monitors, projectors, microwave ovens, etc. In addition, the company offers bio-tech related research and development services, as well as research, develops, manufactures, and sells antibody related products. Further, the company engages in the manufacture, processing, and assembly of mobile payment device, niche precision components, and insulating materials; manufacture, sale, and marketing of healthcare and beauty products; food and beverage, general trading, and other business; trading of parts and precision accessories for LCD modules and electrical appliances; marketing and promotion of the application of bio-related patents; and food and beverage management and advisory services businesses. The company was founded in 1991 and is based in Sha Tin, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CDW HOLDING LIMITED reported revenue of 87.4M SGD in FY2025 versus 143M SGD in FY2021, a compound −11.6%/yr. Reported net income was −2.6M SGD in FY2025.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
87.4M SGD
Latest YoY
+1.8%
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.
−16.1%
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.
−4.8%
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.
−5.6%
Revenue −11.6%/yr
FY21 143M SGD
FY22 148M SGD
FY23 109M SGD
FY24 85.8M SGD
FY25 87.4M SGD
Net income
FY21 2.4M SGD
FY22 14.4M SGD
FY23 −1.1M SGD
FY24 −4.4M SGD
FY25 −2.6M SGD

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Cite: Fair Value Calculator (2026). "CDW HOLDING LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/BXE

Peer Group

Semiconductor Equipment & Materials · 208 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 60 · Above median
Fair Value upside +83% · Top 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) -4% · Bottom 25%
Revenue growth 5% · Below median
Dividend yield (TTM) 5.3% · Top 25%
Debt / equity 0.10× · Higher than median

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/B 0.38× · Cheaper than 75% of peers
P/S (TTM) 0.18× · Cheaper than 75% of peers
P/FCF 13.6× · Pricier than median
PEG 0.88× · 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 0
FUTURE 25 · sector 59
PAST 0 · sector 31
HEALTH 95 · sector 96
DIVIDEND 100 · sector 18

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$46.39 C$21.15 -54%
Applied Materials, Inc AMAT $548.15 $183.10 -67%
Lam Research Corporation LRCX $326.11 $91.80 -72%
KLA Corporation KLAC $200.47 $74.58 -63%
NAURA Technology Group 002371 ¥760.00 ¥205.30 -73%
Advanced Micro-Fabrication Equipment Inc 688012 ¥380.95 ¥55.05 -86%
Hon. Precision, Inc 7769 6,480 TWD 1,804 TWD -72%
MPI Corporation 6223 6,495 TWD 738.64 TWD -89%
HANMI Semiconductor Co 042700 217,500 KRW 47,976 KRW -78%
Wonik IPS Co 240810 120,000 KRW 36,380 KRW -70%

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Frequently asked questions

Is CDW HOLDING LIMITED (BXE) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.1488 SGD versus a price of 0.0820 SGD, about +81% (undervalued).
What is the fair value of BXE?
Our model-based fair value for CDW HOLDING LIMITED is 0.1488 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.0820 SGD.
What is the quality score of BXE?
CDW HOLDING LIMITED has a Quality Score of 60/100. 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 CDW HOLDING LIMITED (BXE)?
CDW HOLDING LIMITED reported trailing-twelve-month revenue of about 87.4M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BXE?
The net profit margin of CDW HOLDING LIMITED is about -3.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does CDW HOLDING LIMITED pay a dividend?
CDW HOLDING LIMITED currently shows a dividend yield of about 5.33% 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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