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GP INDUSTRIES LIMITED (G20) Fair Value & Analysis

Industrials · SG · Market cap 288M SGD

GI GP INDUSTRIES LIMITED G20 · SG
Price0.5800 SGD
Fair Value1.24 SGD
Upside+113.8%
Quality56/100
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Weak Growth
Thin margins · 2.6% net margin
Low debt · generates free cash flow
5.93% dividend yield
Ranks above peers (10/14)
Narrow moat 32/100
Evidence: Medium Range 0.9300 SGD – 1.55 SGD Share as image

Fair value as of: Aug 13, 2026

From 22 valuation models · updated 4 days ago

Share price −3.3% over the past month.

A solid business, screening 114% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (0.9300 SGD). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

0.6050 SGD 0.4224 SGD Fair Value 1.24 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 0.4224 SGD – 0.6050 SGD · fair‑value band 0.9300 SGD – 1.55 SGD · the 0.5800 SGD price screens below the 1.24 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

GP INDUSTRIES LIMITED (G20) currently trades at 0.5800 SGD, while our model-based Fair Value estimate is 1.24 SGD, implying the stock looks roughly 113.8% undervalued today. The Quality Score stands at 56/100 (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, GP INDUSTRIES LIMITED generated revenue of 1.1B SGD at a net margin of 2.6%. Revenue grew 0.8% year over year. It earns a return on equity of 10.0%. Net debt stands at 260M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.9300 SGD (bear case) to 1.55 SGD (bull case); at 0.5800 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 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -65% fair-value upside, at 114%, G20 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
Growth DCF 1.04 SGD 1.25 SGD 1.58 SGD 80
Residual Income 0.4900 SGD 0.5200 SGD 0.5500 SGD 76
Rev-Margin DCF 1.12 SGD 1.59 SGD 2.17 SGD 74
All 22 models by family
DCF Models
FCF DCF 1.01 SGD 1.25 SGD 1.62 SGD 38
Owner Earnings 0.8700 SGD 1.07 SGD 1.38 SGD 31
5Y Revenue Exit 1.12 SGD 1.57 SGD 2.22 SGD 39
5Y EBITDA Exit 1.51 SGD 2.24 SGD 3.21 SGD 41
5Y P/E Exit 0.9600 SGD 1.30 SGD 1.70 SGD 38
10Y Revenue Exit 1.04 SGD 1.33 SGD 1.64 SGD 36
10Y EBITDA Exit 1.27 SGD 1.69 SGD 2.13 SGD 37
10Y P/E Exit 0.9800 SGD 1.19 SGD 1.38 SGD 35
Earnings-Based
Graham-Dodd 0.4000 SGD 0.4900 SGD 0.5500 SGD 54
EPV 0.9600 SGD 1.06 SGD 1.15 SGD 59
Multiples
P/E Multiple 0.9300 SGD 1.24 SGD 1.55 SGD 63
P/S Multiple 0.7500 SGD 1.01 SGD 1.26 SGD 58
P/B Multiple 0.7500 SGD 1.01 SGD 1.26 SGD 55
EV/EBIT 1.79 SGD 2.35 SGD 2.91 SGD 53
EV/EBITDA 2.27 SGD 2.98 SGD 3.70 SGD 54
EV/Revenue 1.31 SGD 1.83 SGD 2.34 SGD 43
Asset-Based
NCAV (Graham) 0.3200 SGD 0.4300 SGD 0.6400 SGD 50
Growth DCF
Growth DCF 1.04 SGD 1.25 SGD 1.58 SGD 80
Rev-Margin DCF 1.12 SGD 1.59 SGD 2.17 SGD 74
Economic Profit
Residual Income 0.4900 SGD 0.5200 SGD 0.5500 SGD 76
ROIC Compounder 0.9600 SGD 1.09 SGD 1.20 SGD 72
Growth Earnings
Growth-Adj P/E 0.6600 SGD 0.9400 SGD 1.22 SGD 68

Widest divergence: DCF Models (1.30 SGD) versus Asset-Based (0.4300 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.1B SGD
Revenue growth (YoY) +0.8%
Net margin 2.6%
Return on equity 10.0%
Free cash flow 59.5M SGD FY2026
P/E ratio 9.7
More key figures
Operating margin 6.1%
EPS (TTM) 0.0600 SGD
Dividend yield 5.9%
EPS growth (YoY) +18.0%
Net debt 260M SGD FY2026

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

Quality Score breakdown

Overall quality 56/100

Of which business quality 54 · Market factors (momentum, volatility) 71

Profitability 41
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 83
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

GP Industries Limited, an investment holding company, develops, manufactures, and markets batteries and related products in Singapore and internationally. The company operates through three segments: Battery, Audio, and Other Industrial Investments segments. It offers alkaline and rechargeable batteries under the GP brand name.

Full company description

GP Industries Limited, an investment holding company, develops, manufactures, and markets batteries and related products in Singapore and internationally. The company operates through three segments: Battery, Audio, and Other Industrial Investments segments. It offers alkaline and rechargeable batteries under the GP brand name. The company also designs, manufactures, and sells professional audio products, loudspeakers, drivers, and related products. In addition, it is involved in provision of marketing services; and marketing and distribution of acoustic and electronic products, as well as holds trademarks. The company was formerly known as GPE Industries Limited and changed its name to GP Industries Limited in June 2000. GP Industries Limited was founded in 1964 and is based in Singapore. The company is a subsidiary of Gold Peak Technology Group Limited.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

GP INDUSTRIES LIMITED reported revenue of 1.1B SGD in FY2026 versus 1.2B SGD in FY2022, a compound −2.7%/yr. Reported net income was 28.4M SGD in FY2026, compounding −5.2%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
1.1B SGD
Latest YoY
−0.9%
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.
−1.6%
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.
−1.5%
Avg. growth/yr (12Y) ⓘ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.
+1.2%
Revenue −2.7%/yr
FY22 1.2B SGD
FY23 1.2B SGD
FY24 1.1B SGD
FY25 1.1B SGD
FY26 1.1B SGD
Net income −5.2%/yr
FY22 35.3M SGD
FY23 22.0M SGD
FY24 −58.7M SGD
FY25 24.3M SGD
FY26 28.4M SGD

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GP INDUSTRIES LIMITED · Fair Value
1.24 SGD +114%Fair Value
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Cite: Fair Value Calculator (2026). "GP INDUSTRIES LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/G20

Peer Group

Electrical Equipment & Parts · 529 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 56 · Above median
Fair Value upside +114% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 3% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 6% · Below median
Revenue growth 1% · Below median
Dividend yield (TTM) 5.9% · Top 25%
Debt / equity 0.42× · Higher than 75% of peers

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 9.7× · Cheaper than 75% of peers
P/B 0.74× · Cheaper than 75% of peers
P/S (TTM) 0.21× · Cheaper than 75% of peers
P/FCF 3.8× · Cheaper than median
EV/EBITDA 1.8× · Cheaper 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 100 · sector 0
FUTURE 4 · sector 58
PAST 40 · sector 26
HEALTH 79 · sector 97
DIVIDEND 100 · sector 23

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$652.50 HK$394.19 -40%
Delta Electronics (Thailand) Public Company DELTA 269.00 THB 40.28 THB -85%
LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW -45%
WEG S.A WEGE3 14,900 ARS 4,338 ARS -71%
Sungrow Power Supply Co 300274 ¥117.53 ¥123.83 +5%
HD Hyundai Electric Co 267260 782,000 KRW 371,133 KRW -53%
LS ELECTRIC Co 010120 206,500 KRW 29,594 KRW -86%
Hyosung Heavy Industries Corporation 298040 2,892,000 KRW 1,013,099 KRW -65%
Hitachi Energy India Limited POWERINDIA ₹35,800 ₹6,106 -83%
Polycab India Limited POLYCAB ₹9,289 ₹3,218 -65%

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Frequently asked questions

Is GP INDUSTRIES LIMITED (G20) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.24 SGD versus a price of 0.5800 SGD, about +114% (undervalued).
What is the fair value of G20?
Our model-based fair value for GP INDUSTRIES LIMITED is 1.24 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.5800 SGD.
What is the quality score of G20?
GP INDUSTRIES LIMITED has a Quality Score of 56/100. 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 GP INDUSTRIES LIMITED (G20)?
GP INDUSTRIES LIMITED reported trailing-twelve-month revenue of about 1.1B SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of G20?
The net profit margin of GP INDUSTRIES LIMITED is about 2.6%, meaning it keeps roughly 2.6% of revenue as net income. Based on the latest reported figures.
Does GP INDUSTRIES LIMITED pay a dividend?
GP INDUSTRIES LIMITED currently shows a dividend yield of about 5.93% 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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