BOUSTEAD SINGAPORE LIMITED (F9D) Fair Value & Analysis

Industrials · SG · Market cap 1.0B SGD

A solid business, screening 99% undervalued on our models.

What matters now

• The price is below even our cautious bear case (2.78 SGD). The market is more pessimistic than our downside scenario.
• The model range is unusually wide (2.78 SGD to 10.75 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
• Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

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 0.6303 SGD – 2.57 SGD · fair‑value band 2.78 SGD – 10.75 SGD · the 1.88 SGD price screens below the 3.74 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

BOUSTEAD SINGAPORE LIMITED (F9D) currently trades at 1.88 SGD, while our model-based Fair Value estimate is 3.74 SGD, implying the stock looks roughly 98.9% undervalued today. The Quality Score stands at 60/100 (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: medium), always confirm before acting.

Over the trailing twelve months, BOUSTEAD SINGAPORE LIMITED generated revenue of 624M SGD at a net margin of 37.3%. Revenue grew 42.5% year over year. It earns a return on equity of 33.5%. The stock trades on a trailing P/E of 4.0. Fundamentals as of Aug 13, 2026

Our scenario range runs from 2.78 SGD (bear case) to 10.75 SGD (bull case); at 1.88 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 29% below its 52-week high and 40% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 11% fair-value upside, at 99%, F9D 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.

Widest divergence: Multiples (7.05 SGD) versus Asset-Based (1.05 SGD). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Boustead Singapore Limited, an investment holding company, provides energy engineering, real estate, geospatial, and healthcare technology solutions in Singapore, Australia, Malaysia, the United States, Europe, rest of Asia Pacific, North and South America, the Middle East, and Africa.

Full company description

Boustead Singapore Limited, an investment holding company, provides energy engineering, real estate, geospatial, and healthcare technology solutions in Singapore, Australia, Malaysia, the United States, Europe, rest of Asia Pacific, North and South America, the Middle East, and Africa. The company designs, engineers, and supplies direct-fired process heater systems, waste heat recovery units, and process control systems for the oil and gas, and petrochemical industries; designs, produces, commissions, and maintains wellhead control panels and hydraulic power units, integrated control and safety shutdown systems, telemetry systems, and chemical injection skids; and deals in rehabilitation equipment and related biomedical products. It also distributes professional services and solutions to Esri ArcGIS, the geographic information system, and smart mapping and location analytics platform; distributes, rents and repairs, and maintains medical appliance and sport science; and provides smart eco-sustainable real estate solutions, including engineering and construction, development management, asset and leasing management, and funds and investment management for real estate. In addition, the company provides management, professional, and training services; design, engineering, project and construction management and property-related services; private real estate trust services; equipment and services for fired heaters and furnaces from design conception to turnkey supply; onshore and offshore oil and gas field and facility services; electrical measuring and control systems, non-electrical measuring and control systems, and safety control systems and panels; medical solutions and services to address age-related chronic diseases and mobility issues on rehabilitative care and sports science, as well as holds, manages, and rents properties; and develops industrial spaces for lease/sale. Boustead Singapore Limited was founded in 1828 and is headquartered in Singapore.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

BOUSTEAD SINGAPORE LIMITED reported revenue of 624M SGD in FY2026 versus 632M SGD in FY2022, a compound −0.3%/yr. Reported net income was 233M SGD in FY2026, compounding +66.1%/yr from FY2022.

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Peer Group

Conglomerates · 383 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.

Valuation Multiples vs Conglomerates median · lower = cheaper

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.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

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.