KHONG GUAN LIMITED (K03) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of KHONG GUAN LIMITED S$0.93, price S$0.97, upside -3.6%, quality 56 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 Sep 27, 2026.
How to read this chart
60‑month range 0.8450 SGD – 1.52 SGD · fair‑value band 0.7600 SGD – 1.39 SGD · the 0.9650 SGD price screens above the 0.9300 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Khong Guan Limited, an investment holding company, engages in trading of wheat flour and other edible products in Singapore and Malaysia. It operates through Trading of Wheat Flour and Consumer Goods; and Others segment. The company offers wheat flour, biscuits, oatmeal, pulses, cereals, and other consumer goods.
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Khong Guan Limited, an investment holding company, engages in trading of wheat flour and other edible products in Singapore and Malaysia. It operates through Trading of Wheat Flour and Consumer Goods; and Others segment. The company offers wheat flour, biscuits, oatmeal, pulses, cereals, and other consumer goods. It also trades in shares listed primarily in Singapore and Malaysia. In addition, the company exports its products. The company was formerly known as Khong Guan Flour Milling Limited and changed its name to Khong Guan Limited in November 2016. Khong Guan Limited was incorporated in 1960 and is based in Singapore.
Stock analysis
KHONG GUAN LIMITED (K03) currently trades at 0.9650 SGD, while our model-based Fair Value estimate is 0.9300 SGD, so the stock looks roughly fairly valued today (gap 3.8%).
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Valuation
Bull case: the Multiples group reads highest at a median of 1.56 SGD per share, and 5 of the 13 models we run sit above the 0.9650 SGD price.
Bear case: the Growth DCF group reads lowest at 0.2000 SGD, and 8 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.7600 SGD (bear) to 1.39 SGD (bull), the price of 0.9650 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 56/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
KHONG GUAN LIMITED reported revenue of 73.4M SGD in FY2025 versus 62.3M SGD in FY2021, a compound +4.2%/yr. Reported net income was −395K SGD in FY2025.
Key figures
Market cap 24.9M SGD (≈ $19.4M) · P/S ratio 0.32 · EPS (TTM) −0.0200 SGD · Dividend yield 1.0% · Net margin −0.5% · Return on equity −0.7% · Return on assets (EBIT) 3.3% · Operating margin 1.2%.
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 3% below its 52-week high and 14% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −10% fair-value upside, at −4%, K03 screens cheaper than that median.
Fair Value models
Bear 0.7600 SGDFair Value 0.9300 SGDBull 1.39 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.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.38/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+4.6%
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.
+1.7%
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.
+3.9%
Start year 2020 (pandemic). Over 10 years: +1.7% a year
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.
+1.5%
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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.
0.9% (2020) → 3.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2024 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+28.8%
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 +26.3% 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.Food Distribution · 81 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−3.6% · Below median
Profitability
Return on assets3.0% · Below median
Net margin (TTM)−0.6% · Bottom 25%
Operating margin (TTM)1.2% · Below median
Growth and dividend
Revenue growth−0.1% · Below median
Dividend yield (TTM)1.0% · Bottom 25%
Valuation Multiplesvs Food Distribution median · lower = cheaper
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Is KHONG GUAN LIMITED (K03) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 0.9300 SGD versus the last price from Sep 25, 2026 of 0.9650 SGD, about −4% upside (fairly valued).
What is the fair value of K03?
Our model-based fair value for KHONG GUAN LIMITED is 0.9300 SGD (as of Sep 27, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): 0.9650 SGD.
What is the quality score of K03?
KHONG GUAN 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 price target for KHONG GUAN LIMITED (K03)?
Our model-based price target is the fair value of 0.9300 SGD (as of Sep 27, 2026) from 13 valuation models. Cautious scenario 0.7600 SGD, optimistic scenario 1.39 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the KHONG GUAN LIMITED stock forecast for 2026?
Our models put fair value at 0.9300 SGD, about −4% upside versus the last price from Sep 25, 2026 of 0.9650 SGD (fairly valued). Cautious scenario 0.7600 SGD, optimistic scenario 1.39 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of KHONG GUAN LIMITED (K03)?
KHONG GUAN LIMITED reported trailing-twelve-month revenue of about 73.4M SGD (latest available figure, as of Sep 27, 2026).
Does KHONG GUAN LIMITED pay a dividend?
KHONG GUAN LIMITED currently shows a dividend yield of about 1.04% relative to its recent price (as of Sep 27, 2026).
What growth is priced into KHONG GUAN LIMITED (K03)?
For today's price to be fair in a discounted-cash-flow model, KHONG GUAN LIMITED would have to grow free cash flow by +28.8 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.9 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of K03 use?
Our models discount KHONG GUAN LIMITED at 8.3 %: a base by market capitalisation (nano), damped by beta 0.03, 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 KHONG GUAN LIMITED that is +28.8 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has KHONG GUAN LIMITED (K03) delivered so far?
Over the past 5 years revenue at KHONG GUAN LIMITED grew +3.9 % a year. The price currently implies +28.8 % 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 KHONG GUAN LIMITED (K03) growing?
The median revenue growth in the sector is +3.0 % a year. That is the yardstick for the growth priced into KHONG GUAN LIMITED (+28.8 % 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 KHONG GUAN LIMITED (K03)?
The free-cash-flow yield on the price is 0.77 %: that much free cash flow KHONG GUAN LIMITED produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of KHONG GUAN LIMITED (K03)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KHONG GUAN LIMITED it is 0.9300 SGD per share (as of Sep 27, 2026), against a price of 0.9650 SGD. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is KHONG GUAN LIMITED stock overvalued or undervalued in 2026?
As of Sep 27, 2026, K03 trades above its calculated fair value: price 0.9650 SGD, fair value 0.9300 SGD, a gap of about −4% (fairly valued). 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 K03?
No. The price is what the market pays today (0.9650 SGD); the fair value is what the company's own numbers justify (0.9300 SGD). For KHONG GUAN LIMITED the two are 0.0350 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is KHONG GUAN LIMITED worth?
The market values KHONG GUAN LIMITED at about 24.9M SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.9650 SGD; our models calculate a fair value of 0.9300 SGD per share.
What do the bullish and bearish scenarios say about K03?
Our models span a range for KHONG GUAN LIMITED: cautious scenario 0.7600 SGD, base 0.9300 SGD, optimistic 1.39 SGD per share (as of Sep 27, 2026, price 0.9650 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of KHONG GUAN LIMITED (K03)?
Balance-sheet figures for KHONG GUAN LIMITED (as of Sep 27, 2026): return on equity −0.7%. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is K03 from its 52-week high?
KHONG GUAN LIMITED trades at 0.9650 SGD, about 3% below its 52-week high of 0.9900 SGD and 14% above the low of 0.8450 SGD (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of 0.9300 SGD is for.
Which stocks are comparable to KHONG GUAN LIMITED?
From the same area (Consumer Defensive) we also value Sysco Corporation, US Foods Holding, Performance Food Group, Jerónimo Martins, SGPS, S.A, 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 KHONG GUAN LIMITED stock attractive at the current price?
The data as of Sep 27, 2026: price 0.9650 SGD, calculated fair value 0.9300 SGD (−4%), Quality Score 56/100, from 13 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 K03 calculated?
We run KHONG GUAN LIMITED through 13 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 0.9300 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. KHONG GUAN LIMITED itself currently trades above fair value. 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 KHONG GUAN LIMITED (K03)?
The latest price we hold is from Sep 25, 2026 and stands at 0.9650 SGD. Our model-based fair value is 0.9300 SGD, about −4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KHONG GUAN LIMITED right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (0.7600 SGD to 1.39 SGD) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of KHONG GUAN LIMITED
How large is the market capitalisation of KHONG GUAN LIMITED (K03)?
The market capitalisation of KHONG GUAN LIMITED is 24.9M SGD (≈ $19.4M). 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 KHONG GUAN LIMITED (K03)?
The price-to-sales ratio of KHONG GUAN LIMITED is 0.32 (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 KHONG GUAN LIMITED (K03)?
Earnings per share at KHONG GUAN LIMITED are −0.0200 SGD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of KHONG GUAN LIMITED (K03)?
The dividend yield of KHONG GUAN LIMITED is 1.0%. 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 KHONG GUAN LIMITED (K03)?
The net margin of KHONG GUAN LIMITED is −0.5% (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 KHONG GUAN LIMITED (K03)?
The return on equity (ROE) of KHONG GUAN LIMITED is −0.7% (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 KHONG GUAN LIMITED (K03)?
On an EBIT basis the return on assets of KHONG GUAN LIMITED is 3.3% (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 KHONG GUAN LIMITED (K03)?
The operating margin of KHONG GUAN LIMITED is 1.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KHONG GUAN LIMITED (K03)?
Revenue at KHONG GUAN LIMITED is growing −0.1% versus a year earlier (3y avg +1.7%). 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 KHONG GUAN LIMITED (K03)?
Earnings per share at KHONG GUAN LIMITED are growing −13.8% versus a year earlier. How much earnings per share grew versus a year earlier.
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