HOTEL ROYAL LIMITED (H12) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of HOTEL ROYAL LIMITED S$2.24, price S$2.04, upside +10.0%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range 1.59 SGD – 2.97 SGD · fair‑value band 1.17 SGD – 3.25 SGD · the 2.04 SGD price screens below the 2.24 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 2, 2026.
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Hotel Royal Limited, an investment holding company, operates in the hotelier business in Singapore, Malaysia, Thailand, and New Zealand. It operates through Hotel Operations, Property Investments, and Financial Investments segments.
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Hotel Royal Limited, an investment holding company, operates in the hotelier business in Singapore, Malaysia, Thailand, and New Zealand. It operates through Hotel Operations, Property Investments, and Financial Investments segments. The company owns, operates, and manages hotels; and owns and manages commercial properties, as well as engages in owning and letting out investment properties, including residential buildings, factory units, shopping centers, retail and office spaces, childcare areas, and car park lots. It also invests in portfolio of shares, bonds, funds, and other investments. The company was incorporated in 1968 and is based in Singapore.
Stock analysis
HOTEL ROYAL LIMITED (H12) currently trades at 2.04 SGD, while our model-based Fair Value estimate is 2.24 SGD, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 4.11 SGD per share, and 3 of the 21 models we run sit above the 2.04 SGD price.
Bear case: the Earnings-Based group reads lowest at 0.7500 SGD, and 18 of the 21 models stay below the price. Evidence for this calculation is high.
Scenario range: 1.17 SGD (bear) to 3.25 SGD (bull), the price of 2.04 SGD sits inside 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 51/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
HOTEL ROYAL LIMITED reported revenue of 74.1M SGD in FY2025 versus 26.3M SGD in FY2021, a compound +29.6%/yr. Reported net income was 10.0M SGD in FY2025.
Key figures
Market cap 247M SGD (≈ $193M) · P/E ratio 18.5 · P/S ratio 2.51 · EPS (TTM) 0.1100 SGD · Dividend yield 1.5% · Net margin 13.5% · Return on equity 1.8% · Return on assets (EBIT) 1.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −28% fair-value upside, at 10%, H12 screens cheaper than that median.
Fair Value models
Bear 1.17 SGDFair Value 2.24 SGDBull 3.25 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0603 SGD per share) are deliberately not added.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.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.1%
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.
+21.0%
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.
+19.3%
Start year 2020 (pandemic). Over 10 years: +2.6% a year
Revenue growth 12 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.
+3.1%
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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. Basis: EBIT basis.
≈ +3.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.9%
Dividend (yield on the price)1.5%
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.11.5% vs −0.7%, picking up
Profit margin 2020 to 2025 ⓘ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.−55% → 22%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 2.9%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Rate on operating basis: 2025 sits 72% above its own trend.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
+21.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about +19.0% a year for the price.
Price, fair value, quality and upside side by side.
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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.Lodging · 158 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+10.0% · Above median
Profitability
Return on equity (TTM)1.8% · Below median
Return on assets1.2% · Below median
Net margin (TTM)17.4% · Top 25%
Operating margin (TTM)19.7% · Above median
Growth and dividend
Revenue growth−2.2% · Bottom 25%
Dividend yield (TTM)1.5% · Below median
Balance sheet
Debt / equity0.21× · Below median
Valuation Multiplesvs Lodging median · lower = cheaper
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Cite: Fair Value Calculator (2026). "HOTEL ROYAL LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/H12
Frequently asked questions
Is HOTEL ROYAL LIMITED (H12) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 2.24 SGD versus a price of 2.04 SGD, about +10% upside (undervalued).
What is the fair value of H12?
Our model-based fair value for HOTEL ROYAL LIMITED is 2.24 SGD (as of Oct 2, 2026), built from audited fundamentals. The current price: 2.04 SGD.
What is the quality score of H12?
HOTEL ROYAL LIMITED has a Quality Score of 51/100. 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 HOTEL ROYAL LIMITED (H12)?
Our model-based price target is the fair value of 2.24 SGD (as of Oct 2, 2026) from 21 valuation models. Cautious scenario 1.17 SGD, optimistic scenario 3.25 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the HOTEL ROYAL LIMITED stock forecast for 2026?
Our models put fair value at 2.24 SGD, about +10% upside versus a price of 2.04 SGD (undervalued). Cautious scenario 1.17 SGD, optimistic scenario 3.25 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of HOTEL ROYAL LIMITED (H12)?
HOTEL ROYAL LIMITED reported trailing-twelve-month revenue of about 73.4M SGD (latest available figure, as of Oct 2, 2026).
Does HOTEL ROYAL LIMITED pay a dividend?
HOTEL ROYAL LIMITED currently shows a dividend yield of about 1.47% relative to its recent price (as of Oct 2, 2026).
What growth is priced into HOTEL ROYAL LIMITED (H12)?
For today's price to be fair in a discounted-cash-flow model, HOTEL ROYAL LIMITED would have to grow free cash flow by +21.4 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +19.4 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of H12 use?
Our models discount HOTEL ROYAL LIMITED at 11.0 %: a base by market capitalisation (micro), damped by beta 0.04, 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 HOTEL ROYAL LIMITED that is +21.4 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has HOTEL ROYAL LIMITED (H12) delivered so far?
Over the past 5 years revenue at HOTEL ROYAL LIMITED grew +19.4 % a year. The price currently implies +21.4 % 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 HOTEL ROYAL LIMITED (H12) growing?
The median revenue growth in the sector is +3.1 % a year. That is the yardstick for the growth priced into HOTEL ROYAL LIMITED (+21.4 % 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 HOTEL ROYAL LIMITED (H12)?
The free-cash-flow yield on the price is 4.88 %: that much free cash flow HOTEL ROYAL LIMITED produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of HOTEL ROYAL LIMITED (H12)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HOTEL ROYAL LIMITED it is 2.24 SGD per share (as of Oct 2, 2026), against a price of 2.04 SGD. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is HOTEL ROYAL LIMITED stock overvalued or undervalued in 2026?
As of Oct 2, 2026, H12 trades below its calculated fair value: price 2.04 SGD, fair value 2.24 SGD, a gap of about +10% (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 H12?
No. The price is what the market pays today (2.04 SGD); the fair value is what the company's own numbers justify (2.24 SGD). For HOTEL ROYAL LIMITED the two are 0.2040 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is HOTEL ROYAL LIMITED worth?
The market values HOTEL ROYAL LIMITED at about 247M SGD (market capitalisation, as of Oct 2, 2026). Per share that is 2.04 SGD; our models calculate a fair value of 2.24 SGD per share.
What do the bullish and bearish scenarios say about H12?
Our models span a range for HOTEL ROYAL LIMITED: cautious scenario 1.17 SGD, base 2.24 SGD, optimistic 3.25 SGD per share (as of Oct 2, 2026, price 2.04 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of H12?
HOTEL ROYAL LIMITED trades at a price-to-earnings ratio of 18.5 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2.24 SGD is built from several models across several years. Other multiples: P/B 0.3, P/S 3.4, EV/EBITDA 15.8.
How solid is the balance sheet of HOTEL ROYAL LIMITED (H12)?
Balance-sheet figures for HOTEL ROYAL LIMITED (as of Oct 2, 2026): return on equity 1.8%, debt of 0.21 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is H12 from its 52-week high?
HOTEL ROYAL LIMITED trades at 2.04 SGD, about 9% below its 52-week high of 2.25 SGD and 8% above the low of 1.89 SGD (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of 2.24 SGD is for.
Which stocks are comparable to HOTEL ROYAL LIMITED?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, InterContinental Hotels Group, Hyatt Hotels Corporation, 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 HOTEL ROYAL LIMITED stock attractive at the current price?
The data as of Oct 2, 2026: price 2.04 SGD, calculated fair value 2.24 SGD (+10%), Quality Score 51/100, from 21 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 H12 calculated?
We run HOTEL ROYAL LIMITED through 21 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 2.24 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. HOTEL ROYAL LIMITED currently trades 9 % 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 HOTEL ROYAL LIMITED (H12)?
The closing price on Sep 30, 2026 was 2.04 SGD. Our model-based fair value is 2.24 SGD, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HOTEL ROYAL LIMITED right now?
The model range is unusually wide (1.17 SGD to 3.25 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of HOTEL ROYAL LIMITED
How large is the market capitalisation of HOTEL ROYAL LIMITED (H12)?
The market capitalisation of HOTEL ROYAL LIMITED is 247M SGD (≈ $193M). 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 HOTEL ROYAL LIMITED (H12)?
The price-to-sales ratio of HOTEL ROYAL LIMITED is 2.51 (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 HOTEL ROYAL LIMITED (H12)?
Earnings per share at HOTEL ROYAL LIMITED are 0.1100 SGD (price ÷ EPS = P/E 18.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of HOTEL ROYAL LIMITED (H12)?
The dividend yield of HOTEL ROYAL LIMITED is 1.5% (payout 27.3%). 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 HOTEL ROYAL LIMITED (H12)?
The net margin of HOTEL ROYAL LIMITED is 13.5% (fiscal year 2025). 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 HOTEL ROYAL LIMITED (H12)?
The return on equity (ROE) of HOTEL ROYAL LIMITED is 1.8% (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 HOTEL ROYAL LIMITED (H12)?
On an EBIT basis the return on assets of HOTEL ROYAL LIMITED is 1.0% (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 HOTEL ROYAL LIMITED (H12)?
The operating margin of HOTEL ROYAL LIMITED is 19.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HOTEL ROYAL LIMITED (H12)?
Revenue at HOTEL ROYAL LIMITED is growing −2.2% versus a year earlier (3y avg +21.0%). 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 HOTEL ROYAL LIMITED (H12)?
Earnings per share at HOTEL ROYAL LIMITED are growing +98.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does HOTEL ROYAL LIMITED (H12) carry?
The net debt of HOTEL ROYAL LIMITED is 139M SGD (fiscal year 2025, ≈ 11.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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