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Boustead Singapore Limited (F9D) Fair Value & Analysis

Industrials · SG · Market cap 1.0B SGD

BS Boustead Singapore Limited F9D · SG
Price2.09 SGD
Fair Value4.18 SGD
Upside+100.0%
Quality62/100
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Evidence: Medium Range 3.14 SGD – 5.22 SGD

Fair value as of: Jul 4, 2026

From 13 valuation models · updated today

Share price −0.5% over the past month.

Price vs Fair Value (12 months)

2.57 SGD 1.45 SGD Fair Value 4.18 SGD Jul 2025 Jul 2026

12‑month range 1.45 SGD – 2.57 SGD · fair‑value band 3.14 SGD – 5.22 SGD · the 2.09 SGD price screens below the 4.18 SGD fair value. As of Jul 4, 2026.

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Analysis

Boustead Singapore Limited (F9D) currently trades at 2.09 SGD, while our model-based Fair Value estimate is 4.18 SGD — implying the stock looks roughly 100.0% undervalued today. We read business quality at 62/100 (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 4.4. Fundamentals as of Jul 4, 2026

Key figures & financial health

Revenue (TTM) 624M SGD
Revenue growth (YoY) +42.5%
Net margin 37.3%
Return on equity 33.5%
Free cash flow −84.0M SGD FY2026
P/E ratio 4.4
More key figures
Operating margin 9.7%
EPS (TTM) 0.4700 SGD
Dividend yield 2.7%
EPS growth (YoY) +226%

Figures from reported company fundamentals (EODHD) · as of Jul 4, 2026. TTM = trailing twelve months.

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. 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 …

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.

Revenue −0.3%/yr
FY22 632M SGD
FY23 562M SGD
FY24 768M SGD
FY25 527M SGD
FY26 624M SGD
Net income +66.1%/yr
FY22 30.6M SGD
FY23 45.3M SGD
FY24 64.2M SGD
FY25 95.0M SGD
FY26 233M SGD

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Frequently asked questions

Is Boustead Singapore Limited (F9D) undervalued?
As of Jul 4, 2026, our model estimates a fair value of 4.18 SGD versus a price of 2.09 SGD — about +100% (undervalued). Model-based estimate, not financial advice.
What is the fair value of F9D?
Our model-based fair value for Boustead Singapore Limited is 4.18 SGD (as of Jul 4, 2026), built from audited fundamentals. The current price is 2.09 SGD.
What is the quality score of F9D?
Boustead Singapore Limited has a Quality Score of 62/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Boustead Singapore Limited (F9D)?
Boustead Singapore Limited reported trailing-twelve-month revenue of about 624M SGD (latest available figure, as of Jul 4, 2026).
What is the net profit margin of F9D?
The net profit margin of Boustead Singapore Limited is about 37.3%, meaning it keeps roughly 37.3% of revenue as net income. Based on the latest reported figures.
Does Boustead Singapore Limited pay a dividend?
Boustead Singapore Limited currently shows a dividend yield of about 2.70% relative to its recent price (as of Jul 4, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.