Jardine Cycle & Carriage Ltd. (C07) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Jardine Cycle & Carriage Ltd. S$50.25, price S$26.00, upside +93.3%, quality 57 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 15.20 SGD – 34.82 SGD · fair‑value band 34.73 SGD – 66.57 SGD · the 26.00 SGD price screens below the 50.25 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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Jardine Cycle & Carriage Limited, an investment holding company, provides the financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia, Singapore, and Malaysia.
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Jardine Cycle & Carriage Limited, an investment holding company, provides the financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia, Singapore, and Malaysia. It manufactures, assembles, distributes, and retails motor vehicles, motorcycles and scooters; and provides aftersales services; manufactures and distributes automotive components. The company offers financial services, such as consumer finance for motorcycles and vehicles, anautomotive and heavy equipment financing, as well as insurance, fintech services, such as AstraPay, and digital banking services. It also manufactures, assembles, distributes, and owns dealership networks for Toyota, Daihatsu, Isuzu, and UD Trucks, as well as Honda motorcycles; and manufactures and retails BMW vehicles, and owns the Lexus cars dealership. In addition, the company distributes Komatsu, UD Trucks, SCANIA, Bomag, and Tadano heavy equipment; and invest in gold and nickel non-coal mineral mining sector and renewable energy, as well as owns mines and thermal power assets. Further, it plants, harvests, and processes palm oil; develops and manages toll roads; provides printing and digital services solutions. The company also distributes FUJIFILM business products, as well as developing office buildings and residential projects. It is involved in renting and leasing private cars without operator; coal mining contractor; provision of document, information and communication technology solutions. The company was formerly known as Cycle & Carriage Ltd. and changed its name to Jardine Cycle & Carriage Limited in 2004. Jardine Cycle & Carriage Limited was founded in 1899 and is based in Singapore. Jardine Cycle & Carriage Limited operates as a subsidiary of Jardine Strategic Singapore Pte Ltd.
Stock analysis
Jardine Cycle & Carriage Ltd. (C07) currently trades at 26.00 SGD, while our model-based Fair Value estimate is 50.25 SGD, implying the stock looks roughly 48.3% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 54.88 SGD per share, and 8 of the 10 models we run sit above the 26.00 SGD price.
Bear case: the Asset-Based group reads lowest at 18.64 SGD, and 2 of the 10 models stay below the price. Evidence for this calculation is medium.
Scenario range: 34.73 SGD (bear) to 66.57 SGD (bull), the price of 26.00 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 57/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Jardine Cycle & Carriage Ltd. reported revenue of $21.4B in FY2025 versus $17.7B in FY2021, a compound +4.8%/yr. Reported net income was $998M in FY2025, compounding +10.9%/yr from FY2021.
Key figures
Market cap 10.3B SGD (≈ $8.0B) · P/E ratio 8.1 · P/S ratio 0.38 · EPS (TTM) 3.20 SGD · Dividend yield 4.3% · Net margin 4.7% · Return on equity 11.5% · Return on assets (EBIT) 8.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and at 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 93%, C07 screens cheaper than that median.
Fair Value models
Bear 34.73 SGDFair Value 50.25 SGDBull 66.57 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 2025 figures (about 9 months old). Earnings retained since then (1.56 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.75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.2%
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.
−0.7%
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.
+10.0%
Start year 2020 (pandemic). Over 10 years: +3.1% 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.
+0.6%
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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.
+12.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.6%
Dividend (yield on the price)4.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.6% vs 5.1%, picking up
Profit margin 2020 to 2025 ⓘ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.12% → 11%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−13.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−1.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −15.6% a year for the price and −4.2% for the forecasts.
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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.Conglomerates · 368 stocks
Beats the industry median on 11/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+93.3% · Top 25%
Profitability
Return on equity (TTM)11.5% · Above median
Return on assets9.2% · Top 25%
Net margin (TTM)11.7% · Top 25%
Operating margin (TTM)6.7% · Below median
Growth and dividend
Revenue growth−7.5% · Bottom 25%
Dividend yield (TTM)4.3% · Top 25%
Balance sheet
Debt / equity0.34× · Above median
Valuation Multiplesvs Conglomerates median · lower = cheaper
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Is Jardine Cycle & Carriage Ltd. (C07) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 50.25 SGD versus a price of 26.00 SGD, about +93% upside (undervalued).
What is the fair value of C07?
Our model-based fair value for Jardine Cycle & Carriage Ltd. is 50.25 SGD (as of Sep 27, 2026), built from audited fundamentals. The current price: 26.00 SGD.
What is the quality score of C07?
Jardine Cycle & Carriage Ltd. has a Quality Score of 57/100. 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 Jardine Cycle & Carriage Ltd. (C07)?
Our model-based price target is the fair value of 50.25 SGD (as of Sep 27, 2026) from 10 valuation models. Cautious scenario 34.73 SGD, optimistic scenario 66.57 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the Jardine Cycle & Carriage Ltd. stock forecast for 2026?
Our models put fair value at 50.25 SGD, about +93% upside versus a price of 26.00 SGD (undervalued). Cautious scenario 34.73 SGD, optimistic scenario 66.57 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of Jardine Cycle & Carriage Ltd. (C07)?
Jardine Cycle & Carriage Ltd. reported trailing-twelve-month revenue of about $20.5B (latest available figure, as of Sep 27, 2026).
Does Jardine Cycle & Carriage Ltd. pay a dividend?
Jardine Cycle & Carriage Ltd. currently shows a dividend yield of about 4.35% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Jardine Cycle & Carriage Ltd. (C07)?
For today's price to be fair in a discounted-cash-flow model, Jardine Cycle & Carriage Ltd. would have to grow free cash flow by -13.6 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.1 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of C07 use?
Our models discount Jardine Cycle & Carriage Ltd. at 9.5 %: a base by market capitalisation (mid), country premium for Singapore. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Jardine Cycle & Carriage Ltd. that is -13.6 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Jardine Cycle & Carriage Ltd. (C07) delivered so far?
Over the past 5 years revenue at Jardine Cycle & Carriage Ltd. grew +10.1 % a year. The price currently implies -13.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Jardine Cycle & Carriage Ltd. (C07) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Jardine Cycle & Carriage Ltd. (-13.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Jardine Cycle & Carriage Ltd. (C07)?
The free-cash-flow yield on the price is 25.56 %: that much free cash flow Jardine Cycle & Carriage Ltd. produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Jardine Cycle & Carriage Ltd. (C07)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jardine Cycle & Carriage Ltd. it is 50.25 SGD per share (as of Sep 27, 2026), against a price of 26.00 SGD. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Jardine Cycle & Carriage Ltd. stock overvalued or undervalued in 2026?
As of Sep 27, 2026, C07 trades below its calculated fair value: price 26.00 SGD, fair value 50.25 SGD, a gap of about +93% (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 C07?
No. The price is what the market pays today (26.00 SGD); the fair value is what the company's own numbers justify (50.25 SGD). For Jardine Cycle & Carriage Ltd. the two are 24.25 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is Jardine Cycle & Carriage Ltd. worth?
The market values Jardine Cycle & Carriage Ltd. at about 10.3B SGD (market capitalisation, as of Sep 27, 2026). Per share that is 26.00 SGD; our models calculate a fair value of 50.25 SGD per share.
What do the bullish and bearish scenarios say about C07?
Our models span a range for Jardine Cycle & Carriage Ltd.: cautious scenario 34.73 SGD, base 50.25 SGD, optimistic 66.57 SGD per share (as of Sep 27, 2026, price 26.00 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of C07?
Jardine Cycle & Carriage Ltd. trades at a price-to-earnings ratio of 8.1 (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 50.25 SGD is built from several models across several years. Other multiples: PEG 0.7, P/B 0.9, P/S 0.9, EV/EBITDA 6.4.
What is the PEG ratio of C07?
The PEG ratio of Jardine Cycle & Carriage Ltd. is 0.73 (P/E divided by earnings growth, as of Sep 27, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Jardine Cycle & Carriage Ltd. (C07)?
Balance-sheet figures for Jardine Cycle & Carriage Ltd. (as of Sep 27, 2026): return on equity 11.5%, debt of 0.34 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is C07 from its 52-week high?
Jardine Cycle & Carriage Ltd. trades at 26.00 SGD, about 25% below its 52-week high of 34.82 SGD and at the low of 26.00 SGD (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 50.25 SGD is for.
Which stocks are comparable to Jardine Cycle & Carriage Ltd.?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, CITIC Limited, Swire Pacific Limited, 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 Jardine Cycle & Carriage Ltd. stock attractive at the current price?
The data as of Sep 27, 2026: price 26.00 SGD, calculated fair value 50.25 SGD (+93%), Quality Score 57/100, from 10 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 C07 calculated?
We run Jardine Cycle & Carriage Ltd. through 10 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 50.25 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. Jardine Cycle & Carriage Ltd. currently trades 48 % 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 Jardine Cycle & Carriage Ltd. (C07)?
The closing price on Oct 1, 2026 was 26.00 SGD. Our model-based fair value is 50.25 SGD, about +93% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jardine Cycle & Carriage Ltd. right now?
The price is below even our cautious bear case (34.73 SGD). The market is more pessimistic than our downside scenario. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (34.73 SGD to 66.57 SGD) leaves room in how you read the outcome.
Key figures of Jardine Cycle & Carriage Ltd.
How large is the market capitalisation of Jardine Cycle & Carriage Ltd. (C07)?
The market capitalisation of Jardine Cycle & Carriage Ltd. is 10.3B SGD (≈ $8.0B). 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 Jardine Cycle & Carriage Ltd. (C07)?
The price-to-sales ratio of Jardine Cycle & Carriage Ltd. is 0.38 (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 Jardine Cycle & Carriage Ltd. (C07)?
Earnings per share at Jardine Cycle & Carriage Ltd. are 3.20 SGD (price ÷ EPS = P/E 8.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Jardine Cycle & Carriage Ltd. (C07)?
The dividend yield of Jardine Cycle & Carriage Ltd. is 4.3% (payout 35.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Jardine Cycle & Carriage Ltd. (C07)?
The net margin of Jardine Cycle & Carriage Ltd. is 4.7% (fiscal year 2025). 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 Jardine Cycle & Carriage Ltd. (C07)?
The return on equity (ROE) of Jardine Cycle & Carriage Ltd. is 11.5% (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 Jardine Cycle & Carriage Ltd. (C07)?
On an EBIT basis the return on assets of Jardine Cycle & Carriage Ltd. is 8.0% (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 Jardine Cycle & Carriage Ltd. (C07)?
The operating margin of Jardine Cycle & Carriage Ltd. is 6.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jardine Cycle & Carriage Ltd. (C07)?
Revenue at Jardine Cycle & Carriage Ltd. is growing −7.5% versus a year earlier (3y avg −0.7%). 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 Jardine Cycle & Carriage Ltd. (C07)?
Earnings per share at Jardine Cycle & Carriage Ltd. are growing −2.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Jardine Cycle & Carriage Ltd. (C07) carry?
The net debt of Jardine Cycle & Carriage Ltd. is $3.9B (fiscal year 2025, ≈ 1.9 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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Some data
Sep 27, 2026