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FBS Global Limited (FBGL) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of FBS Global Limited stock $5.20, price $2.18, upside +138.5%, quality 47 out of 100. Rating: strongly undervalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Industrials US · Based in Singapore · ISIN KYG3337S1093

FG FBS Global Limited logo Thin data Nov 8, 2026

FBS Global Limited

FBGL · US
Cheap, value-trap risk

The stock costs 58% less than our calculation considers fair.

Fair value $5.20 · Strongly undervalued
Low debt
Even on cautious assumptions the value is 57% above the price ($3.43).
Quality 47/100
Expensive Growth (revenue 5y +35.4 %/yr in SGD)
Mixed vs. peers (5/10)
Loss-making · -7.9% net margin (TTM)
Negative free cash flow
Narrow moat 6/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$34.50 $2.11 Fair Value $5.20 Feb 2025 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

21‑month range $2.11 – $34.50 · fair‑value band $3.43 – $6.50 · the $2.18 price screens below the $5.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

FBS Global Limited, an investment holding company, together with its subsidiaries, operates as a green building contractor in Singapore.

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The company provides construction and engineering services, including the supply of building materials and precast concrete components, recycling of construction and industrial wastes, research, and development, as well as pavement consultancy services.

It also engages in the design, supply, and installation of ceilings, partitions, timber deck, carpet, lead lining, acoustic wall panel, built-in furnishings, and carpentry; and provision of mechanical and electrical services of a building.

The company undertakes interior fit-out works for institutional, residential, commercial, and industrial building projects. FBS Global Limited was founded in 1996 and is based in Singapore.

Stock analysis

FBS Global Limited (FBGL) currently trades at $2.18, while our model-based Fair Value estimate is $5.20, implying the stock looks roughly 58% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: $3.43 (bear) to $6.50 (bull), the price of $2.18 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 47/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

FBS Global Limited Ordinary Shares reported revenue of 25.9M SGD in FY2025 versus 22.7M SGD in FY2021, a compound +3.3%/yr. Reported net income was −2.0M SGD in FY2025.

Key figures

Market cap $3.0M Micro · P/S ratio 0.11 · EPS (TTM) $−1.15 · Net margin −7.9% · Return on equity −23.7% · Return on assets (EBIT) −0.8% (5-year average) · Operating margin −12.2% · Revenue (TTM) 25.9M SGD.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

The share trades about 84% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 139%, FBGL screens cheaper than that median.

Fair Value models

Bear $3.43 Fair Value $5.20 Bull $6.50
Price $2.18 · Upside +138.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. Coverage ⓘCoverage = 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.
Best data coverage
NCAV (Graham) $3.43 $5.20 $6.50 54
All 1 models by family
Asset-Based
NCAV (Graham) $3.43 $5.20 $6.50 54

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Quality Score breakdown

Overall quality 47/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 17
How much profit the company makes from its sales and capital
Quality Growth 53
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 55
Debt, balance sheet and risk of trouble
Investment 38
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 4
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 100
Buys back shares or issues new ones?

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Revenue & earnings trend

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. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+86.8%
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.
+15.4%
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.
+35.4%
Start year 2020 (pandemic)
Profit margin (trend) ⓘ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.
−19.1% (2020) → −7.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Engineering & Construction · 791 stocks

Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside +138.5% · Top 25%
Profitability
Return on assets −7.3% · Bottom 25%
Net margin (12 months) −7.9% · Bottom 25%
Operating margin (12 months) −12.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 226.7% · Top 25%
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Engineering & Construction median · lower = cheaper

P/B 0.30× · Cheapest 25%
P/S (12 months) 0.15× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 34
FUTURE (revenue growth)100 · sector 20
PAST (return on equity)0 · sector 28
HEALTH (low debt)100 · sector 94
DIVIDEND (yield)0 · sector 44

Context: sector, industry, market

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

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vinci SA DG €111.60 €186.68 +67% vs FBGL
Comfort Systems USA, Inc FIX $1,018 $1,119 +10% vs FBGL
EMCOR Group EME $608.45 $524.14 −14% vs FBGL
ACS, Actividades de Construcción y Servicios, S.A ACS €87.00 €62.21 −28% vs FBGL
Samsung C&T Corporation 028260 273,500 KRW 159,702 KRW −42% vs FBGL
Larsen & Toubro Limited LT ₹4,118 ₹2,302 −44% vs FBGL
HOCHTIEF Aktiengesellschaft HOT €365.60 €203.86 −44% vs FBGL
APi Group APG $40.87 $19.20 −53% vs FBGL
Ferrovial N.V FER $58.71 $23.06 −61% vs FBGL
Quanta Services, Inc PWR $540.90 $162.41 −70% vs FBGL

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FBS Global Limited Ordinary Shares: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "FBS Global Limited Ordinary Shares Fair Value". https://www.fairvalue-calculator.com/stock/FBGL

Frequently asked questions

Is FBS Global Limited (FBGL) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $5.20 versus a price of $2.18, about +139% upside (undervalued).
What is the fair value of FBGL?
Our model-based fair value for FBS Global Limited is $5.20 (as of Nov 8, 2026), built from audited fundamentals. The current price: $2.18.
What is the quality score of FBGL?
FBS Global Limited has a Quality Score of 47/100. 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 FBS Global Limited (FBGL)?
Our model-based price target is the fair value of $5.20 (as of Nov 8, 2026) from 1 valuation models. Cautious scenario $3.43, optimistic scenario $6.50. It is a calculation from audited fundamentals, not an analyst target.
What is the FBS Global Limited Ordinary Shares stock forecast for 2026?
Our models put fair value at $5.20, about +139% upside versus a price of $2.18 (undervalued). Cautious scenario $3.43, optimistic scenario $6.50. The calculation is refreshed regularly with new filings.
What is the revenue of FBS Global Limited (FBGL)?
FBS Global Limited reported trailing-twelve-month revenue of about 25.9M SGD (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of FBS Global Limited (FBGL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FBS Global Limited it is $5.20 per share (as of Nov 8, 2026), against a price of $2.18. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is FBS Global Limited Ordinary Shares stock overvalued or undervalued in 2026?
As of Nov 8, 2026, FBGL trades below its calculated fair value: price $2.18, fair value $5.20, a gap of about +139% (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 FBGL?
No. The price is what the market pays today ($2.18); the fair value is what the company's own numbers justify ($5.20). For FBS Global Limited the two are $3.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is FBS Global Limited Ordinary Shares worth?
The market values FBS Global Limited at about $3.0M (market capitalisation, as of Nov 8, 2026). Per share that is $2.18; our models calculate a fair value of $5.20 per share.
What do the bullish and bearish scenarios say about FBGL?
Our models span a range for FBS Global Limited: cautious scenario $3.43, base $5.20, optimistic $6.50 per share (as of Nov 8, 2026, price $2.18). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of FBS Global Limited (FBGL)?
Balance-sheet figures for FBS Global Limited (as of Nov 8, 2026): return on equity −23.7%, debt of 0.00 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is FBGL from its 52-week high?
FBS Global Limited trades at $2.18, about 84% below its 52-week high of $13.80 and 3% above the low of $2.11 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $5.20 is for.
Which stocks are comparable to FBS Global Limited Ordinary Shares?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, 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 FBS Global Limited Ordinary Shares stock attractive at the current price?
The data as of Nov 8, 2026: price $2.18, calculated fair value $5.20 (+139%), Quality Score 47/100, from 1 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 FBGL calculated?
We run FBS Global Limited through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $5.20 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. FBS Global Limited currently trades 58% 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 FBS Global Limited (FBGL)?
The closing price on Nov 6, 2026 was $2.18. Our model-based fair value is $5.20, about +139% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FBS Global Limited Ordinary Shares right now?
The large discount to fair value meets weak quality (47/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($3.43). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($3.43 to $6.50) leaves room in how you read the outcome.

Key figures of FBS Global Limited

How large is the market capitalisation of FBS Global Limited (FBGL)?
The market capitalisation of FBS Global Limited is $3.0M. 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 FBS Global Limited (FBGL)?
The price-to-sales ratio of FBS Global Limited is 0.11 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of FBS Global Limited (FBGL)?
Earnings per share at FBS Global Limited are $−1.15. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of FBS Global Limited (FBGL)?
The net margin of FBS Global Limited is −7.9% (last twelve months). 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 FBS Global Limited (FBGL)?
The return on equity (ROE) of FBS Global Limited is −23.7% (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 FBS Global Limited (FBGL)?
On an EBIT basis the return on assets of FBS Global Limited is −0.8% (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 FBS Global Limited (FBGL)?
The operating margin of FBS Global Limited is −12.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FBS Global Limited (FBGL)?
Revenue at FBS Global Limited is growing +227% versus a year earlier (3y avg +15.4%). 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 FBS Global Limited (FBGL)?
Earnings per share at FBS Global Limited are growing +754% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does FBS Global Limited (FBGL) generate?
The free cash flow of FBS Global Limited is −4.2M SGD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does FBS Global Limited (FBGL) hold?
FBS Global Limited holds more cash than debt, 3.9M SGD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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