Keppel Ltd (KPELF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Keppel Ltd $3.62, price $8.52, upside -57.5%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Keppel Ltd
KPELF · USStretched ValuationStrong overvaluation with only moderate quality.
What runs behind every stock
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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 3, 2026.
How to read this chart
60‑month range $1.88 – $9.93 · fair‑value band $2.32 – $6.32 · the $8.52 price screens above the $3.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 3, 2026.
Company profile
Keppel Ltd., an investment holding company, engages in the infrastructure, real estate, and connectivity businesses in Singapore, China, Hong Kong, other Far East and ASEAN countries, and internationally.
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Keppel Ltd., an investment holding company, engages in the infrastructure, real estate, and connectivity businesses in Singapore, China, Hong Kong, other Far East and ASEAN countries, and internationally. The company manages private funds and listed real estate investment and business trusts in areas of infrastructure, real estate, and connectivity; provides energy and environmental solutions and services, including commercial power generation, renewables, environmental engineering and construction, and infrastructure operation and maintenance; sustainable and urban space solutions; sustainable urban renewal and senior living services; system integration solutions and services; and engages in the property development and investment, and master development activities. It also offers telecommunication services; leases, develops, operates, and manages data centres; trades and sells telecommunication and information technology equipment; and develops and operates golf club. In addition, the company engages in electricity, energy and power supply; general wholesale trading; purchase and sale of gaseous fuels; development of district heating and cooling system; environmental, technology, and engineering works and construction activities; solid waste treatment activities; design and construction of waste-to-energy and desalination plants; commercial power generation; ownership and operation of hotels; and renewable energy generation activities. The company was formerly known as Keppel Corporation and changed its name to Keppel Ltd. in January 2024. Keppel Ltd. Limited was incorporated in 1968 and is headquartered in Singapore.
Stock analysis
Keppel Ltd (KPELF) currently trades at $8.52, while our model-based Fair Value estimate is $3.62, 57.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $5.81 per share, and 0 of the 12 models we run sit above the $8.52 price.
Bear case: the Growth DCF group reads lowest at $1.74, and 12 of the 12 models stay below the price. Evidence for this calculation is high.
Scenario range: $2.32 (bear) to $6.32 (bull), the price of $8.52 sits above 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 Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Keppel Ltd reported revenue of 6.0B SGD in FY2025 versus 6.6B SGD in FY2021, a compound −2.5%/yr. Reported net income was 788M SGD in FY2025, compounding −6.4%/yr from FY2021.
Key figures
Market cap $15.6B · P/E ratio 19.8 · P/S ratio 2.61 · EPS (TTM) $0.4300 · Dividend yield 4.0% · Net margin 13.2% · Return on equity 9.0% · Return on assets (EBIT) 3.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
For context, the median of 10 Industrials peers we cover trades at 2% fair-value upside, at −58%, KPELF screens richer than that median.
Fair Value models
All 12 models by family
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Set up alert →Quality Score breakdown
Of which business quality 47 · Market factors (momentum, volatility) 75
Revenue & earnings trend
Growth Forecast
KPELF screens overvalued: fair value 58% below the price. Compare with 3M Company →
Earlier news
- Keppel Ltd (KPELF) (H1 2026) Earnings Call Highlights: Strong FUM Growth and Recurring Income ...
- Apollo and Singapore’s Keppel to Invest in New Offshore Energy Asset Fund
- KBR's PureSAF Technology Selected by Keppel and Aster for Licensing and FEED for Asia's First Commercial-Scale Ethanol-to-Jet Sustainable Av
- Keppel (KPELY) Forms 'Hammer Chart Pattern': Time for Bottom Fishing?
Compare Keppel Ltd with another stock
Price, fair value, quality and upside side by side.
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.Conglomerates · 361 stocks
Valuation Multiplesvs Conglomerates median · lower = cheaper
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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10 more Conglomerates stocks, each showing price versus our Fair Value estimate.
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| SK Inc 034730 | 611,000 KRW | 348,688 KRW | −43% |
| Jardine Matheson Holdings J36 | $55.36 | $78.34 | +42% |
| Kingdom Holding 4280 | 13.08 SAR | 13.40 SAR | +2% |
| Koç Holding KCHOL | 216.50 TRY | 182.26 TRY | −16% |
| Aker ASA AKER | kr 1,396 | kr 1,017 | −27% |
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