NetLink NBN Trust Un (CJLU) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of NetLink NBN Trust Un S$0.38, price S$0.96, upside -60.2%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch NetLink NBN Trust Un for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
60‑month range 0.6305 SGD – 1.01 SGD · fair‑value band 0.2700 SGD – 0.4900 SGD · the 0.9550 SGD price screens above the 0.3800 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 30, 2026.
Follow NetLink NBN Trust Un in your weekly email
Every Wednesday you see whether NetLink NBN Trust Un is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
NetLink NBN Trust, an investment holding company, owns, designs, builds, and operates the passive fibre network infrastructure for residential homes and non-residential premises, and non-building address point (NBAP) connections in mainland Singapore and its connected islands.
Show more
NetLink NBN Trust, an investment holding company, owns, designs, builds, and operates the passive fibre network infrastructure for residential homes and non-residential premises, and non-building address point (NBAP) connections in mainland Singapore and its connected islands. The company's passive fiber network infrastructure comprising ducts, manholes, fibre cables, and central offices. NetLink NBN Trust was incorporated in 2017 and is based in Singapore.
Stock analysis
NetLink NBN Trust Un (CJLU) currently trades at 0.9550 SGD, while our model-based Fair Value estimate is 0.3800 SGD, 60.2% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Asset-Based group reads highest at a median of 0.3900 SGD per share, and 0 of the 23 models we run sit above the 0.9550 SGD price.
Bear case: the Economic Profit group reads lowest at 0.0400 SGD, and 23 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.2700 SGD (bear) to 0.4900 SGD (bull), the price of 0.9550 SGD sits above 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 Communication Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
NetLink NBN Trust Un reported revenue of 413M SGD in FY2026 versus 378M SGD in FY2022, a compound +2.3%/yr. Reported net income was 83.3M SGD in FY2026, compounding −2.3%/yr from FY2022.
Key figures
Market cap 3.7B SGD (≈ $2.9B) · P/E ratio 47.8 · P/S ratio 9.62 · EPS (TTM) 0.0200 SGD · Dividend yield 5.7% · Net margin 20.2% · Return on equity 3.6% · Return on assets (EBIT) 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 36% fair-value upside, at −60%, CJLU screens richer than that median.
Fair Value models
Bear 0.2700 SGDFair Value 0.3800 SGDBull 0.4900 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.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.61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+1.6%
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.
+0.8%
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.
+2.3%
Start year 2021 (pandemic). Over 10 years: +4.8% a year
Revenue growth 11 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.
+6.0%
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
’26
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.
+3.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.8%
Dividend (yield on the price)5.7%
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.−1.8% vs 0.9%, steady
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.26% → 23%
Start year 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more 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).
+12.9%
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.
+1.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about +10.7% a year for the price and −0.6% for the forecasts.
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Telecom Services · 237 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−60.2% · Bottom 25%
Profitability
Return on equity (TTM)3.6% · Below median
Return on assets1.6% · Below median
Net margin (TTM)20.0% · Top 25%
Operating margin (TTM)20.7% · Above median
Growth and dividend
Revenue growth0.4% · Below median
Dividend yield (TTM)5.7% · Top 25%
Balance sheet
Debt / equity0.44× · Above median
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (TTM)47.8× · Priciest 25%
P/B1.65× · Cheaper than median
P/S (TTM)8.94× · Priciest 25%
P/FCF24.5× · Priciest 25%
EV/EBITDA15.9× · Priciest 25%
PEG12.31× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 42
FUTURE (revenue growth)2· sector 22
PAST (return on equity)14· sector 34
HEALTH (low debt)78· sector 87
DIVIDEND (yield)100· sector 71
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "NetLink NBN Trust Un Fair Value". https://www.fairvalue-calculator.com/stock/CJLU
Frequently asked questions
Is NetLink NBN Trust Un (CJLU) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of 0.3800 SGD versus a price of 0.9550 SGD, about −60% upside (overvalued).
What is the fair value of CJLU?
Our model-based fair value for NetLink NBN Trust Un is 0.3800 SGD (as of Sep 30, 2026), built from audited fundamentals. The current price: 0.9550 SGD.
What is the quality score of CJLU?
NetLink NBN Trust Un 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 NetLink NBN Trust Un (CJLU)?
Our model-based price target is the fair value of 0.3800 SGD (as of Sep 30, 2026) from 23 valuation models. Cautious scenario 0.2700 SGD, optimistic scenario 0.4900 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the NetLink NBN Trust Un stock forecast for 2026?
Our models put fair value at 0.3800 SGD, about −60% upside versus a price of 0.9550 SGD (overvalued). Cautious scenario 0.2700 SGD, optimistic scenario 0.4900 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of NetLink NBN Trust Un (CJLU)?
NetLink NBN Trust Un reported trailing-twelve-month revenue of about 416M SGD (latest available figure, as of Sep 30, 2026).
Does NetLink NBN Trust Un pay a dividend?
NetLink NBN Trust Un currently shows a dividend yield of about 5.65% relative to its recent price (as of Sep 30, 2026).
What growth is priced into NetLink NBN Trust Un (CJLU)?
For today's price to be fair in a discounted-cash-flow model, NetLink NBN Trust Un would have to grow free cash flow by +12.9 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.3 % per year. As of Sep 30, 2026.
What discount rate (WACC) does the fair value of CJLU use?
Our models discount NetLink NBN Trust Un at 8.3 %: a base by market capitalisation (mid), damped by beta 0.16, 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 NetLink NBN Trust Un that is +12.9 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has NetLink NBN Trust Un (CJLU) delivered so far?
Over the past 5 years revenue at NetLink NBN Trust Un grew +2.3 % a year. The price currently implies +12.9 % 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 NetLink NBN Trust Un (CJLU) growing?
The median revenue growth in the sector is +3.0 % a year. That is the yardstick for the growth priced into NetLink NBN Trust Un (+12.9 % 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 NetLink NBN Trust Un (CJLU)?
The free-cash-flow yield on the price is 4.08 %: that much free cash flow NetLink NBN Trust Un produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of NetLink NBN Trust Un (CJLU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NetLink NBN Trust Un it is 0.3800 SGD per share (as of Sep 30, 2026), against a price of 0.9550 SGD. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is NetLink NBN Trust Un stock overvalued or undervalued in 2026?
As of Sep 30, 2026, CJLU trades above its calculated fair value: price 0.9550 SGD, fair value 0.3800 SGD, a gap of about −60% (overvalued). 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 CJLU?
No. The price is what the market pays today (0.9550 SGD); the fair value is what the company's own numbers justify (0.3800 SGD). For NetLink NBN Trust Un the two are 0.5750 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is NetLink NBN Trust Un worth?
The market values NetLink NBN Trust Un at about 3.7B SGD (market capitalisation, as of Sep 30, 2026). Per share that is 0.9550 SGD; our models calculate a fair value of 0.3800 SGD per share.
What do the bullish and bearish scenarios say about CJLU?
Our models span a range for NetLink NBN Trust Un: cautious scenario 0.2700 SGD, base 0.3800 SGD, optimistic 0.4900 SGD per share (as of Sep 30, 2026, price 0.9550 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CJLU?
NetLink NBN Trust Un trades at a price-to-earnings ratio of 47.8 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.3800 SGD is built from several models across several years. Other multiples: PEG 12.3, P/B 1.7, P/S 8.9, EV/EBITDA 15.9.
What is the PEG ratio of CJLU?
The PEG ratio of NetLink NBN Trust Un is 12.31 (P/E divided by earnings growth, as of Sep 30, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of NetLink NBN Trust Un (CJLU)?
Balance-sheet figures for NetLink NBN Trust Un (as of Sep 30, 2026): return on equity 3.6%, debt of 0.44 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is CJLU from its 52-week high?
NetLink NBN Trust Un trades at 0.9550 SGD, about 5% below its 52-week high of 1.01 SGD and 6% above the low of 0.9037 SGD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 0.3800 SGD is for.
Which stocks are comparable to NetLink NBN Trust Un?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, 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 NetLink NBN Trust Un stock attractive at the current price?
The data as of Sep 30, 2026: price 0.9550 SGD, calculated fair value 0.3800 SGD (−60%), Quality Score 57/100, from 23 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 CJLU calculated?
We run NetLink NBN Trust Un through 23 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 0.3800 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. NetLink NBN Trust Un itself currently trades above fair value. 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 NetLink NBN Trust Un (CJLU)?
The closing price on Oct 2, 2026 was 0.9550 SGD. Our model-based fair value is 0.3800 SGD, about −60% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NetLink NBN Trust Un right now?
The price sits above even our optimistic bull case (0.4900 SGD). The favourable scenario is already priced in. 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 but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (0.2700 SGD to 0.4900 SGD) leaves room in how you read the outcome.
Key figures of NetLink NBN Trust Un
How large is the market capitalisation of NetLink NBN Trust Un (CJLU)?
The market capitalisation of NetLink NBN Trust Un is 3.7B SGD (≈ $2.9B). 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 NetLink NBN Trust Un (CJLU)?
The price-to-sales ratio of NetLink NBN Trust Un is 9.62 (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 NetLink NBN Trust Un (CJLU)?
Earnings per share at NetLink NBN Trust Un are 0.0200 SGD (price ÷ EPS = P/E 47.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of NetLink NBN Trust Un (CJLU)?
The dividend yield of NetLink NBN Trust Un is 5.7%. 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 NetLink NBN Trust Un (CJLU)?
The net margin of NetLink NBN Trust Un is 20.2% (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 NetLink NBN Trust Un (CJLU)?
The return on equity (ROE) of NetLink NBN Trust Un is 3.6% (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 NetLink NBN Trust Un (CJLU)?
On an EBIT basis the return on assets of NetLink NBN Trust Un is 2.8% (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 NetLink NBN Trust Un (CJLU)?
The operating margin of NetLink NBN Trust Un is 20.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NetLink NBN Trust Un (CJLU)?
Revenue at NetLink NBN Trust Un is growing +0.4% versus a year earlier (3y avg +0.8%). 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 NetLink NBN Trust Un (CJLU)?
Earnings per share at NetLink NBN Trust Un are growing −15.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does NetLink NBN Trust Un (CJLU) carry?
The net debt of NetLink NBN Trust Un is 740M SGD (fiscal year 2026, ≈ 4.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch NetLink NBN Trust Un in the live analysis
One click puts NetLink NBN Trust Un on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Thin data
Sep 30, 2026