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TSH CORPORATION LTD (KUH) Fair Value & Analysis

Consumer Cyclical · SG · Market cap 7.9M SGD

TC TSH CORPORATION LTD KUH · SG
Price0.1390 SGD
Fair Value0.4170 SGD
Upside+200.0%
Quality75/100
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Strengths

Trades 67% below our fair value of 0.4170 SGD
Healthy Growth (revenue 5y +24.9 %/yr)
Low debt · generates free cash flow
Ranks above peers (13/14)

Risks

!Thin margins · 10.0% net margin
!Moderate moat 51/100
Healthy Growth (revenue 5y +24.9 %/yr)
Thin margins · 10.0% net margin
Low debt · generates free cash flow
2.81% dividend yield
Ranks above peers (13/14)
Moderate moat 51/100
Evidence: High Range 0.3111 SGD – 0.5163 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 11 days ago

Fair value updated Aug 13, 2026, revised from 0.6300 SGD to 0.4170 SGD (−33.8%) since Aug 9, 2026. Share price −13.1% over the past month.

A strong business, trading 67% below our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (0.3111 SGD). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

0.2995 SGD 0.0522 SGD Fair Value 0.4170 SGD Apr 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 0.0522 SGD – 0.2995 SGD · fair‑value band 0.3111 SGD – 0.5163 SGD · the 0.1390 SGD price screens below the 0.4170 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

TSH CORPORATION LTD (KUH) currently trades at 0.1390 SGD, while our model-based Fair Value estimate is 0.4170 SGD, implying the stock looks roughly 200.0% undervalued today. The Quality Score stands at 75/100 (high quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, TSH CORPORATION LTD generated revenue of 12.6M SGD at a net margin of 10.0%. Revenue grew 6.1% year over year. It earns a return on equity of 13.2%. The stock trades on a trailing P/E of 4.6. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.3111 SGD (bear case) to 0.5163 SGD (bull case); at 0.1390 SGD, the current price sits below 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 30% below its 52-week high and 144% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -48% fair-value upside, at 200%, KUH screens cheaper 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 0.7500 SGD 1.15 SGD 1.69 SGD 80
Rev-Margin DCF 0.4900 SGD 0.7100 SGD 1.01 SGD 74
ROIC Compounder 0.2800 SGD 0.3300 SGD 0.3900 SGD 72
All 24 models by family
DCF Models
FCF DCF 0.7700 SGD 1.24 SGD 1.96 SGD 38
Owner Earnings 0.6400 SGD 1.02 SGD 1.59 SGD 31
5Y Revenue Exit 0.4900 SGD 0.7100 SGD 0.9900 SGD 39
5Y EBITDA Exit 0.6700 SGD 1.08 SGD 1.60 SGD 41
5Y P/E Exit 0.6100 SGD 0.9600 SGD 1.36 SGD 38
10Y Revenue Exit 0.5900 SGD 0.8300 SGD 1.16 SGD 36
10Y EBITDA Exit 0.7000 SGD 1.06 SGD 1.61 SGD 37
10Y P/E Exit 0.6700 SGD 0.9900 SGD 1.44 SGD 35
Earnings-Based
Graham-Dodd 0.1900 SGD 1.01 SGD 1.39 SGD 54
Lynch FV 0.2800 SGD 0.3900 SGD 0.5100 SGD 50
PEG = 1.0 0.2800 SGD 0.3900 SGD 0.5100 SGD 46
EPV 0.2700 SGD 0.2900 SGD 0.3100 SGD 59
Multiples
P/E Multiple 0.4700 SGD 0.6300 SGD 0.7800 SGD 63
P/S Multiple 0.2600 SGD 0.3400 SGD 0.4300 SGD 58
P/B Multiple 0.3600 SGD 0.4800 SGD 0.6000 SGD 55
EV/EBIT 0.5300 SGD 0.6800 SGD 0.8400 SGD 53
EV/EBITDA 0.6500 SGD 0.8400 SGD 1.03 SGD 54
EV/Revenue 0.3100 SGD 0.4200 SGD 0.5200 SGD 43
Asset-Based
NCAV (Graham) 0.1200 SGD 0.1600 SGD 0.2400 SGD 50
Growth DCF
Growth DCF 0.7500 SGD 1.15 SGD 1.69 SGD 80
Rev-Margin DCF 0.4900 SGD 0.7100 SGD 1.01 SGD 74
Economic Profit
Residual Income 0.2000 SGD 0.2200 SGD 0.2900 SGD 61
ROIC Compounder 0.2800 SGD 0.3300 SGD 0.3900 SGD 72
Growth Earnings
Growth-Adj P/E 0.4200 SGD 0.6000 SGD 0.7800 SGD 68

Widest divergence: DCF Models (0.9900 SGD) versus Asset-Based (0.1600 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 4.6
P/S ratio 0.63 TTM
Dividend yield 2.8% payout 13.0%
Net margin 10.0% TTM
Return on equity 13.2% TTM
Return on assets 5.9% TTM
More key figures
Profitability
Operating margin 14.8% TTM
EPS (TTM) 0.0300 SGD
Growth
Revenue (TTM) 12.6M SGD TTM
Revenue growth (YoY) +6.1% 3y avg +12.3%
EPS growth (YoY) +41.9%
Balance sheet & cash flow
Free cash flow 3.2M SGD FY2025

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

Quality Score breakdown

Overall quality 75/100

Of which business quality 76 · Market factors (momentum, volatility) 65

Profitability 61
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 97
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 69
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 82
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

TSH Corporation Limited, an investment holding company, operates a chain of pubs and bars in Singapore. The company operates whiskey, cocktail, and café bars under the Quaich Bar Collector, Quaich Bar Avant-garde, Quaich Bar Wanderlust, The Other Room, Signature Reserve, Capitol Cigar & Whisky Lounge, The Whisky Store, and Whisky Journey names.

Full company description

TSH Corporation Limited, an investment holding company, operates a chain of pubs and bars in Singapore. The company operates whiskey, cocktail, and café bars under the Quaich Bar Collector, Quaich Bar Avant-garde, Quaich Bar Wanderlust, The Other Room, Signature Reserve, Capitol Cigar & Whisky Lounge, The Whisky Store, and Whisky Journey names. It imports, exports, and distributes spirits, wines, and other liquors through its outlets, as well as wholesale basis; and provides online retail sale of whiskies under The Whisky Store name. TSH Corporation Limited is based in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TSH CORPORATION LTD reported revenue of 12.6M SGD in FY2025 versus 5.2M SGD in FY2021, a compound +25.0%/yr. Reported net income was 1.3M SGD in FY2025.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
12.6M SGD
Latest YoY
+7.4%
Avg. revenue 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.
+12.3%
Avg. revenue 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.
+24.9%
Avg. revenue growth/yr (6Y) 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.
+8.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+19.0% (16.2 + 2.8)
Revenue +25.0%/yr
FY21 5.2M SGD
FY22 8.9M SGD
FY23 10.9M SGD
FY24 11.8M SGD
FY25 12.6M SGD
Net income
FY21 −316K SGD
FY22 852K SGD
FY23 392K SGD
FY24 854K SGD
FY25 1.3M SGD

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

Peer Group

Restaurants · 230 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 75 · Top 25%
Fair Value upside +200% · Top 25%
Return on equity (TTM) 13% · Above median
Return on assets 6% · Above median
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 15% · Top 25%
Revenue growth 6% · Above median
Dividend yield (TTM) 3.6% · Above median

Valuation Multiples vs Restaurants median · lower = cheaper

P/E (TTM) 4.6× · Cheaper than 75% of peers
P/B 0.59× · Cheaper than median
P/S (TTM) 0.49× · Cheaper than median
P/FCF 2.0× · Pricier than median
EV/EBITDA 1.9× · Cheaper 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 24
FUTURE31 · sector 18
PAST53 · sector 16
HEALTH100 · sector 97
DIVIDEND72 · sector 68

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

Similar stocks

10 more Restaurants stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
McDonald's Corporation MCD $265.53 $149.03 -44%
Starbucks Corporation SBUX $108.49 $35.83 -67%
Chipotle Mexican Grill, Inc CMG $34.66 $17.92 -48%
Yum! Brands, Inc YUM $150.34 $58.17 -61%
Restaurant Brands International Inc QSR C$104.50 C$36.37 -65%
Darden Restaurants, Inc DRI $218.86 $173.68 -21%
Yum China Holdings YUMC $47.90 $54.27 +13%
Texas Roadhouse, Inc TXRH $214.28 $104.89 -51%
Dutch Bros Inc BROS $51.02 $12.80 -75%
Domino's Pizza, Inc DPZ $336.52 $227.31 -32%

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Frequently asked questions

Is TSH CORPORATION LTD (KUH) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.4170 SGD versus a price of 0.1390 SGD, about +200% (undervalued).
What is the fair value of KUH?
Our model-based fair value for TSH CORPORATION LTD is 0.4170 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price: 0.1390 SGD.
What is the quality score of KUH?
TSH CORPORATION LTD has a Quality Score of 75/100. 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 TSH CORPORATION LTD (KUH)?
TSH CORPORATION LTD reported trailing-twelve-month revenue of about 12.6M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of KUH?
The net profit margin of TSH CORPORATION LTD is about 10.0%, meaning it keeps roughly 10.0% of revenue as net income. Based on the latest reported figures.
Does TSH CORPORATION LTD pay a dividend?
TSH CORPORATION LTD currently shows a dividend yield of about 2.81% 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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