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HONG FOK CORPORATION LTD (H30) Fair Value & Analysis

Real Estate · SG · Market cap 748M SGD

HF HONG FOK CORPORATION LTD H30 · SG
Price0.8800 SGD
Fair Value0.6100 SGD
Upside-30.7%
Quality69/100
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Mixed Growth
Highly profitable · 29.0% net margin
Low debt · generates free cash flow
1.06% dividend yield
Trails peers (5/14)
Moderate moat 61/100
Evidence: Medium Range 0.4500 SGD – 0.7600 SGD Share as image

Fair value as of: Aug 13, 2026

From 13 valuation models · updated 4 days ago

Share price −1.1% over the past month.

A solid business, but screening 31% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (0.7600 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

1.09 SGD 0.6105 SGD Fair Value 0.6100 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 0.6105 SGD – 1.09 SGD · fair‑value band 0.4500 SGD – 0.7600 SGD · the 0.8800 SGD price screens above the 0.6100 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

HONG FOK CORPORATION LTD (H30) currently trades at 0.8800 SGD, while our model-based Fair Value estimate is 0.6100 SGD, implying the stock looks roughly 30.7% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, HONG FOK CORPORATION LTD generated revenue of 98.4M SGD at a net margin of 29.0%. Revenue declined 13.9% year over year. It earns a return on equity of 1.1%. Net debt stands at 654M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.4500 SGD (bear case) to 0.7600 SGD (bull case); at 0.8800 SGD, the current price sits above 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 18% below its 52-week high and 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at -31%, H30 screens richer 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 0.0600 SGD 80
Residual Income 1.87 SGD 1.71 SGD 1.16 SGD 76
Rev-Margin DCF 0.2200 SGD 74
All 13 models by family
DCF Models
FCF DCF 0.0800 SGD 38
5Y Revenue Exit 0.2500 SGD 39
5Y EBITDA Exit 0.0900 SGD 0.4700 SGD 41
10Y EBITDA Exit 0.1200 SGD 37
Multiples
P/S Multiple 0.4500 SGD 0.6100 SGD 0.7600 SGD 58
P/B Multiple 0.4500 SGD 0.6100 SGD 0.7600 SGD 55
EV/EBIT 0.2100 SGD 0.5400 SGD 0.8800 SGD 53
EV/EBITDA 0.2600 SGD 0.5200 SGD 54
EV/Revenue 0.2300 SGD 43
Asset-Based
NCAV (Graham) 1.45 SGD 1.95 SGD 2.90 SGD 50
Growth DCF
Growth DCF 0.0600 SGD 80
Rev-Margin DCF 0.2200 SGD 74
Economic Profit
Residual Income 1.87 SGD 1.71 SGD 1.16 SGD 76

Widest divergence: Asset-Based (1.95 SGD) versus DCF Models (0.0900 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 98.4M SGD
Revenue growth (YoY) -13.9%
Net margin 29.0%
Return on equity 1.1%
Free cash flow 47.8M SGD FY2025
P/E ratio 22.0
More key figures
Operating margin 47.7%
EPS (TTM) 0.0400 SGD
Dividend yield 1.1%
EPS growth (YoY) +14.8%
Net debt 654M SGD FY2025

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

Quality Score breakdown

Overall quality 69/100

Of which business quality 66 · Market factors (momentum, volatility) 57

Profitability 29
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 96
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 46
Distance to the 52-week high (market factor)
Net Issuance 86
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

Hong Fok Corporation Limited, an investment holding company, engages in property investment, construction, development, and management activities in Singapore. The company invests in offices, shops, restaurant, hotel, car park, residential, retail, and commercial properties.

Full company description

Hong Fok Corporation Limited, an investment holding company, engages in property investment, construction, development, and management activities in Singapore. The company invests in offices, shops, restaurant, hotel, car park, residential, retail, and commercial properties. It also offers investment trading, holding, and management services, as well as maintenance services. The company was incorporated in 1967 and is based in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HONG FOK CORPORATION LTD reported revenue of 98.3M SGD in FY2025 versus 90.5M SGD in FY2021, a compound +2.1%/yr. Reported net income was 28.5M SGD in FY2025, compounding −7.5%/yr from FY2021.

Growth Quality 66/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
98.3M SGD
Latest YoY
−5.7%
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.
−13.9%
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.
+4.1%
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.
−7.0%
Revenue +2.1%/yr
FY21 90.5M SGD
FY22 154M SGD
FY23 111M SGD
FY24 104M SGD
FY25 98.3M SGD
Net income −7.5%/yr
FY21 38.9M SGD
FY22 220M SGD
FY23 88.1M SGD
FY24 23.7M SGD
FY25 28.5M SGD

H30 screens 31% overvalued. Compare with Plaza S.A →

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Cite: Fair Value Calculator (2026). "HONG FOK CORPORATION LTD Fair Value". https://www.fairvalue-calculator.com/stock/H30

Peer Group

Real Estate Services · 530 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 70 · Top 25%
Fair Value upside −31% · Below median
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 29% · Above median
Operating margin (TTM) 48% · Above median
Revenue growth -14% · Bottom 25%
Dividend yield (TTM) 1.1% · Bottom 25%
Debt / equity 0.29× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 22.0× · Pricier than 75% of peers
P/B 0.25× · Cheaper than 75% of peers
P/S (TTM) 5.95× · Pricier than 75% of peers
P/FCF 12.2× · Pricier than 75% of peers
EV/EBITDA 25.5× · Pricier 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 0 · sector 34
FUTURE 0 · sector 10
PAST 4 · sector 16
HEALTH 86 · sector 84
DIVIDEND 21 · sector 59

VALUE 0: the price sits above our fair-value range.

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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 392.00 IDR 1,012 IDR +158%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is HONG FOK CORPORATION LTD (H30) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.6100 SGD versus a price of 0.8800 SGD, about −31% (overvalued).
What is the fair value of H30?
Our model-based fair value for HONG FOK CORPORATION LTD is 0.6100 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.8800 SGD.
What is the quality score of H30?
HONG FOK CORPORATION LTD has a Quality Score of 69/100. 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 HONG FOK CORPORATION LTD (H30)?
HONG FOK CORPORATION LTD reported trailing-twelve-month revenue of about 98.4M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of H30?
The net profit margin of HONG FOK CORPORATION LTD is about 29.0%, meaning it keeps roughly 29.0% of revenue as net income. Based on the latest reported figures.
Does HONG FOK CORPORATION LTD pay a dividend?
HONG FOK CORPORATION LTD currently shows a dividend yield of about 1.06% 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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