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HRNETGROUP LIMITED (CHZ) Fair Value & Analysis

Industrials · SG · Market cap 739M SGD

HL HRNETGROUP LIMITED CHZ · SG
Price0.7350 SGD
Fair Value1.01 SGD
Upside+37.4%
Quality71/100
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Healthy Growth
Thin margins · 8.8% net margin
generates free cash flow
5.68% dividend yield
Ranks above peers (11/14)
Moderate moat 48/100
Evidence: High Range 0.7900 SGD – 1.26 SGD Share as image

Fair value as of: Aug 13, 2026

From 23 valuation models · updated 4 days ago

Share price −0.7% over the past month.

A solid business, screening 37% undervalued on our models.

What matters now

  • The rarer combination: high quality (71/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (0.7900 SGD). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

0.7550 SGD 0.4930 SGD Fair Value 1.01 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 0.4930 SGD – 0.7550 SGD · fair‑value band 0.7900 SGD – 1.26 SGD · the 0.7350 SGD price screens below the 1.01 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

HRNETGROUP LIMITED (CHZ) currently trades at 0.7350 SGD, while our model-based Fair Value estimate is 1.01 SGD, implying the stock looks roughly 37.4% undervalued today. The Quality Score stands at 71/100 (solid quality), in the Industrials 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, HRNETGROUP LIMITED generated revenue of 584M SGD at a net margin of 8.8%. Revenue grew 2.6% year over year. It earns a return on equity of 13.1%. The stock trades on a trailing P/E of 14.7. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.7900 SGD (bear case) to 1.26 SGD (bull case); at 0.7350 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 3% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 21% fair-value upside, at 37%, CHZ 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 0.3600 SGD 0.4100 SGD 0.7000 SGD 76
Growth DCF 0.7400 SGD 0.8900 SGD 1.07 SGD 72
Growth-Adj P/E 0.6200 SGD 0.8900 SGD 1.15 SGD 68
All 23 models by family
DCF Models
FCF DCF 0.7300 SGD 0.9000 SGD 1.10 SGD 38
Owner Earnings 0.7500 SGD 0.9200 SGD 1.13 SGD 31
5Y Revenue Exit 0.7300 SGD 0.9600 SGD 1.24 SGD 39
5Y EBITDA Exit 0.7600 SGD 1.02 SGD 1.31 SGD 41
5Y P/E Exit 0.8700 SGD 1.22 SGD 1.56 SGD 38
10Y Revenue Exit 0.7100 SGD 0.9100 SGD 1.14 SGD 36
10Y EBITDA Exit 0.7500 SGD 0.9400 SGD 1.19 SGD 37
10Y P/E Exit 0.8100 SGD 1.07 SGD 1.36 SGD 35
Earnings-Based
Graham-Dodd 0.3500 SGD 0.8500 SGD 1.09 SGD 54
PEG = 1.0 0.1500 SGD 0.2100 SGD 0.2800 SGD 46
EPV 0.5800 SGD 0.6300 SGD 0.6600 SGD 59
Multiples
P/E Multiple 0.8100 SGD 1.08 SGD 1.36 SGD 63
P/S Multiple 0.6600 SGD 0.8800 SGD 1.10 SGD 58
P/B Multiple 0.6600 SGD 0.8800 SGD 1.10 SGD 55
EV/EBIT 0.9600 SGD 1.19 SGD 1.42 SGD 53
EV/EBITDA 0.8600 SGD 1.06 SGD 1.26 SGD 54
EV/Revenue 0.7600 SGD 0.9700 SGD 1.18 SGD 43
Asset-Based
NCAV (Graham) 0.2000 SGD 0.2700 SGD 0.4100 SGD 50
Growth DCF
Growth DCF 0.7400 SGD 0.8900 SGD 1.07 SGD 72
Rev-Margin DCF 0.7300 SGD 0.9600 SGD 1.22 SGD 67
Economic Profit
Residual Income 0.3600 SGD 0.4100 SGD 0.7000 SGD 76
ROIC Compounder 0.6000 SGD 0.6500 SGD 0.7100 SGD 67
Growth Earnings
Growth-Adj P/E 0.6200 SGD 0.8900 SGD 1.15 SGD 68

Widest divergence: Multiples (0.9700 SGD) versus Asset-Based (0.2700 SGD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 584M SGD
Revenue growth (YoY) +2.6%
Net margin 8.8%
Return on equity 13.1%
Free cash flow 52.0M SGD FY2025
P/E ratio 14.7
More key figures
Operating margin 8.1%
EPS (TTM) 0.0500 SGD
Dividend yield 5.7%
EPS growth (YoY) +1.3%

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

Quality Score breakdown

Overall quality 71/100

Of which business quality 71 · Market factors (momentum, volatility) 66

Profitability 58
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 63
Distance to the 52-week high (market factor)
Net Issuance 78
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

HRnetGroup Limited engages in the recruitment and staffing business in Singapore, Hong Kong, Taiwan, the People's Republic of China, Japan, South Korea, Malaysia, Thailand, Vietnam, and Indonesia. The company operates through Professional Recruitment, Flexible Staffing, and Others segments.

Full company description

HRnetGroup Limited engages in the recruitment and staffing business in Singapore, Hong Kong, Taiwan, the People's Republic of China, Japan, South Korea, Malaysia, Thailand, Vietnam, and Indonesia. The company operates through Professional Recruitment, Flexible Staffing, and Others segments. It offers personnel recruitment and human resource (HR) related services; employment, recruitment, and personnel placement agency services; executive search services; payroll, and temporary and contracted staffing services; and executive and management recruitment, as well as management consultancy services. The company also provides recruitment process outsourcing services, such as workplace analysis and planning; contract negotiation; customized recruitment process and assessment; onboarding and offboarding; recruitment marketing programs; employee liaison and management; contract negotiation; interviews, recommendations, and selection; and labor dispatch services, as well as manages HR functions and HR consultancy services. In addition, it is involved in private employees procurement agency business licensing and information technology consultancy activities. The company serves IT and tech, retail and consumer, healthcare life science, manufacturing, services, financial and insurance, and other industries, as well as government. It provides services under the HRnetOne, Recruit Express, PeopleSearch, SearchAsia, RecruitFirst, Recruit Legal, YesPay!, HRnetRimbun, REForce, Octomate, AllwaysHRnet, Recruit Fast, Crew, LEAPS, AllwaysFirst, Center Point Personnel, DouDou, and EASE. The company was founded in 1992 and is based in Singapore. HRnetGroup Limited is a subsidiary of SIMCO Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HRNETGROUP LIMITED reported revenue of 584M SGD in FY2025 versus 591M SGD in FY2021, a compound −0.3%/yr. Reported net income was 51.2M SGD in FY2025, compounding −6.0%/yr from FY2021.

Growth Quality 77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
584M SGD
Latest YoY
+3.0%
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.
−1.5%
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 (11Y) 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.
+5.5%
Revenue −0.3%/yr
FY21 591M SGD
FY22 612M SGD
FY23 578M SGD
FY24 567M SGD
FY25 584M SGD
Net income −6.0%/yr
FY21 65.5M SGD
FY22 67.5M SGD
FY23 63.6M SGD
FY24 44.5M SGD
FY25 51.2M SGD

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Cite: Fair Value Calculator (2026). "HRNETGROUP LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/CHZ

Peer Group

Staffing & Employment Services · 85 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 71 · Top 25%
Fair Value upside +37% · Above median
Return on equity (TTM) 13% · Above median
Return on assets 6% · Above median
Net margin (TTM) 9% · Top 25%
Operating margin (TTM) 8% · Top 25%
Revenue growth 3% · Above median
Dividend yield (TTM) 5.7% · Above median

Valuation Multiples vs Staffing & Employment Services median · lower = cheaper

P/E (TTM) 14.7× · Cheaper than median
P/B 1.44× · Cheaper than median
P/S (TTM) 0.99× · Pricier than 75% of peers
P/FCF 11.1× · Pricier than 75% of peers
EV/EBITDA 6.9× · Cheaper than median
PEG 1.59× · Pricier 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 83 · sector 44
FUTURE 13 · sector 1
PAST 52 · sector 36
HEALTH 0 · sector 95
DIVIDEND 100 · sector 69

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 Staffing & Employment Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Adecco Group ADEN CHF 23.14 CHF 24.08 +4%
Korn Ferry, KFY $83.30 $114.56 +38%
Robert Half Inc RHI $41.55 $20.51 -51%
TriNet Group TNET $66.83 $97.07 +45%
ManpowerGroup Inc MAN $56.22 $23.19 -59%
Insperity, Inc NSP $50.39 $17.34 -66%
FESCO Group 600861 ¥13.17 ¥45.46 +245%
Grupa Pracuj S.A GPP 55.50 PLN 65.45 PLN +18%
Barrett Business Services, Inc BBSI $31.39 $38.11 +21%
Maharah for Human Resources Company 1831 5.36 SAR 6.87 SAR +28%

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Frequently asked questions

Is HRNETGROUP LIMITED (CHZ) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.01 SGD versus a price of 0.7350 SGD, about +37% (undervalued).
What is the fair value of CHZ?
Our model-based fair value for HRNETGROUP LIMITED is 1.01 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.7350 SGD.
What is the quality score of CHZ?
HRNETGROUP LIMITED has a Quality Score of 71/100. 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 HRNETGROUP LIMITED (CHZ)?
HRNETGROUP LIMITED reported trailing-twelve-month revenue of about 584M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of CHZ?
The net profit margin of HRNETGROUP LIMITED is about 8.8%, meaning it keeps roughly 8.8% of revenue as net income. Based on the latest reported figures.
Does HRNETGROUP LIMITED pay a dividend?
HRNETGROUP LIMITED currently shows a dividend yield of about 5.68% 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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