HO BEE LAND LIMITED (H13) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of HO BEE LAND LIMITED S$4.44, price S$1.99, upside +123.1%, quality 66 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 1, 2026.
How to read this chart
60‑month range 1.54 SGD – 2.68 SGD · fair‑value band 1.92 SGD – 8.17 SGD · the 1.99 SGD price screens below the 4.44 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 1, 2026.
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Ho Bee Land Limited is a real estate company. Listed on the Mainboard of the Singapore Exchange since 1999, Ho Bee has a global footprint that spans Australia, China, United Kingdom and Europe. Its portfolio covers many quality residential, commercial and high-tech industrial projects since its inception.
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Ho Bee Land Limited is a real estate company. Listed on the Mainboard of the Singapore Exchange since 1999, Ho Bee has a global footprint that spans Australia, China, United Kingdom and Europe. Its portfolio covers many quality residential, commercial and high-tech industrial projects since its inception. In Singapore, Ho Bee is widely recognised as the pioneer developer of luxury homes in the exclusive residential enclave of Sentosa Cove. Other notable developments in Singapore include The Metropolis at one-north, the largest Grade A office development outside the Central Business District to-date, and Elementum, a cutting-edge biomedical sciences development slated to be completed by end-2023. In London, the company has a portfolio of eight investment properties, including The Scalpel, Ropemaker Place and 1 St Martin's Le Grand. Ho Bee is committed towards delivering quality homes and buildings for its stakeholders and contributing to a sustainable built environment. Ho Bee Land was incororated in Singapore.
Stock analysis
HO BEE LAND LIMITED (H13) currently trades at 1.99 SGD, while our model-based Fair Value estimate is 4.44 SGD, implying the stock looks roughly 55.2% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 3.80 SGD per share, and 13 of the 14 models we run sit above the 1.99 SGD price.
Bear case: the Multiples group reads lowest at 2.57 SGD, and 1 of the 14 models stay below the price. Evidence for this calculation is high.
Scenario range: 1.92 SGD (bear) to 8.17 SGD (bull), the price of 1.99 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 66/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
HO BEE LAND LIMITED reported revenue of 440M SGD in FY2025 versus 348M SGD in FY2021, a compound +6.1%/yr. Reported net income was 100M SGD in FY2025, compounding −25.8%/yr from FY2021.
Key figures
Market cap 1.3B SGD (≈ $1.0B) · P/E ratio 13.3 · P/S ratio 3.02 · EPS (TTM) 0.1500 SGD · Dividend yield 2.5% · Net margin 22.8% · Return on equity 2.8% · Return on assets (EBIT) 3.5%.
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 19% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −48% fair-value upside, at 123%, H13 screens cheaper than that median.
Fair Value models
Bear 1.92 SGDFair Value 4.44 SGDBull 8.17 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 (0.0753 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 is growing, but margins or cash flow do not fully confirm the trend.
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.
+14.9%
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.
+20.0%
Revenue growth 11 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.
+9.7%
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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.
−18.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−21.2%
Dividend (yield on the price)2.5%
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.−21.2% vs −7.4%, slowing
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.73% → 52%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than 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).
+11.8%
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 +9.6% 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.Real Estate - Diversified · 133 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside+123.1% · Top 25%
Profitability
Return on equity (TTM)2.8% · Below median
Return on assets2.4% · Above median
Net margin (TTM)20.3% · Above median
Operating margin (TTM)53.7% · Top 25%
Growth and dividend
Revenue growth29.4% · Top 25%
Dividend yield (TTM)2.5% · Below median
Balance sheet
Debt / equity0.53× · Above median
Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "HO BEE LAND LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/H13
Frequently asked questions
Is HO BEE LAND LIMITED (H13) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of 4.44 SGD versus a price of 1.99 SGD, about +123% upside (undervalued).
What is the fair value of H13?
Our model-based fair value for HO BEE LAND LIMITED is 4.44 SGD (as of Oct 1, 2026), built from audited fundamentals. The current price: 1.99 SGD.
What is the quality score of H13?
HO BEE LAND LIMITED has a Quality Score of 66/100. 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 HO BEE LAND LIMITED (H13)?
Our model-based price target is the fair value of 4.44 SGD (as of Oct 1, 2026) from 14 valuation models. Cautious scenario 1.92 SGD, optimistic scenario 8.17 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the HO BEE LAND LIMITED stock forecast for 2026?
Our models put fair value at 4.44 SGD, about +123% upside versus a price of 1.99 SGD (undervalued). Cautious scenario 1.92 SGD, optimistic scenario 8.17 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of HO BEE LAND LIMITED (H13)?
HO BEE LAND LIMITED reported trailing-twelve-month revenue of about 500M SGD (latest available figure, as of Oct 1, 2026).
Does HO BEE LAND LIMITED pay a dividend?
HO BEE LAND LIMITED currently shows a dividend yield of about 2.51% relative to its recent price (as of Oct 1, 2026).
What growth is priced into HO BEE LAND LIMITED (H13)?
For today's price to be fair in a discounted-cash-flow model, HO BEE LAND LIMITED would have to grow free cash flow by +11.8 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.3 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of H13 use?
Our models discount HO BEE LAND LIMITED at 9.6 %: a base by market capitalisation (small), damped by beta 0.21, 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 HO BEE LAND LIMITED that is +11.8 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has HO BEE LAND LIMITED (H13) delivered so far?
Over the past 5 years revenue at HO BEE LAND LIMITED grew +15.3 % a year. The price currently implies +11.8 % 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 HO BEE LAND LIMITED (H13) growing?
The median revenue growth in the sector is +2.0 % a year. That is the yardstick for the growth priced into HO BEE LAND LIMITED (+11.8 % 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 HO BEE LAND LIMITED (H13)?
The free-cash-flow yield on the price is 12.32 %: that much free cash flow HO BEE LAND LIMITED produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of HO BEE LAND LIMITED (H13)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HO BEE LAND LIMITED it is 4.44 SGD per share (as of Oct 1, 2026), against a price of 1.99 SGD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is HO BEE LAND LIMITED stock overvalued or undervalued in 2026?
As of Oct 1, 2026, H13 trades below its calculated fair value: price 1.99 SGD, fair value 4.44 SGD, a gap of about +123% (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 H13?
No. The price is what the market pays today (1.99 SGD); the fair value is what the company's own numbers justify (4.44 SGD). For HO BEE LAND LIMITED the two are 2.45 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is HO BEE LAND LIMITED worth?
The market values HO BEE LAND LIMITED at about 1.3B SGD (market capitalisation, as of Oct 1, 2026). Per share that is 1.99 SGD; our models calculate a fair value of 4.44 SGD per share.
What do the bullish and bearish scenarios say about H13?
Our models span a range for HO BEE LAND LIMITED: cautious scenario 1.92 SGD, base 4.44 SGD, optimistic 8.17 SGD per share (as of Oct 1, 2026, price 1.99 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of H13?
HO BEE LAND LIMITED trades at a price-to-earnings ratio of 13.3 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 4.44 SGD is built from several models across several years. Other multiples: P/B 0.4, P/S 2.6, EV/EBITDA 12.0.
How solid is the balance sheet of HO BEE LAND LIMITED (H13)?
Balance-sheet figures for HO BEE LAND LIMITED (as of Oct 1, 2026): return on equity 2.8%, debt of 0.53 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is H13 from its 52-week high?
HO BEE LAND LIMITED trades at 1.99 SGD, about 19% below its 52-week high of 2.44 SGD and at the low of 1.99 SGD (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 4.44 SGD is for.
Which stocks are comparable to HO BEE LAND LIMITED?
From the same area (Real Estate) we also value Swiss Prime Site AG, Central Pattana Public Company, The Phoenix Mills Limited, Prestige Estates Projects Limited, 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 HO BEE LAND LIMITED stock attractive at the current price?
The data as of Oct 1, 2026: price 1.99 SGD, calculated fair value 4.44 SGD (+123%), Quality Score 66/100, from 14 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 H13 calculated?
We run HO BEE LAND LIMITED through 14 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 4.44 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. HO BEE LAND LIMITED currently trades 55 % 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 HO BEE LAND LIMITED (H13)?
The closing price on Oct 1, 2026 was 1.99 SGD. Our model-based fair value is 4.44 SGD, about +123% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HO BEE LAND LIMITED right now?
The model range is unusually wide (1.92 SGD to 8.17 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of HO BEE LAND LIMITED
How large is the market capitalisation of HO BEE LAND LIMITED (H13)?
The market capitalisation of HO BEE LAND LIMITED is 1.3B SGD (≈ $1.0B). 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 HO BEE LAND LIMITED (H13)?
The price-to-sales ratio of HO BEE LAND LIMITED is 3.02 (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 HO BEE LAND LIMITED (H13)?
Earnings per share at HO BEE LAND LIMITED are 0.1500 SGD (price ÷ EPS = P/E 13.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of HO BEE LAND LIMITED (H13)?
The dividend yield of HO BEE LAND LIMITED is 2.5% (payout 33.3%). 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 HO BEE LAND LIMITED (H13)?
The net margin of HO BEE LAND LIMITED is 22.8% (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 HO BEE LAND LIMITED (H13)?
The return on equity (ROE) of HO BEE LAND LIMITED is 2.8% (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 HO BEE LAND LIMITED (H13)?
On an EBIT basis the return on assets of HO BEE LAND LIMITED is 3.5% (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 HO BEE LAND LIMITED (H13)?
The operating margin of HO BEE LAND LIMITED is 53.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HO BEE LAND LIMITED (H13)?
Revenue at HO BEE LAND LIMITED is growing +29.4% versus a year earlier (3y avg +0.3%). 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 HO BEE LAND LIMITED (H13)?
Earnings per share at HO BEE LAND LIMITED are growing +2.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does HO BEE LAND LIMITED (H13) carry?
The net debt of HO BEE LAND LIMITED is 2.3B SGD (fiscal year 2025, ≈ 14.1 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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