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INTERNATIONAL CEMENT GROUPLTD. (KUO) Fair Value & Analysis

Basic Materials · SG · Market cap 361M SGD

IC INTERNATIONAL CEMENT GROUPLTD. KUO · SG
Price0.0740 SGD
Fair Value0.0700 SGD
Upside-5.4%
Quality64/100
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Healthy Growth
Solidly profitable · 15.8% net margin
Low debt · generates free cash flow
Ranks above peers (11/13)
Wide moat 78/100
Evidence: Medium Range 0.0407 SGD – 0.1140 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 5 days ago

Fair value updated Aug 13, 2026, revised from 0.1646 SGD to 0.0700 SGD (−57.5%) since Aug 9, 2026. Share price +21.3% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The model range is unusually wide (0.0407 SGD to 0.1140 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
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Price vs Fair Value (5 years)

0.0890 SGD 0.0150 SGD Fair Value 0.0700 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 0.0150 SGD – 0.0890 SGD · fair‑value band 0.0407 SGD – 0.1140 SGD · the 0.0740 SGD price screens above the 0.0700 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

INTERNATIONAL CEMENT GROUPLTD. (KUO) currently trades at 0.0740 SGD, while our model-based Fair Value estimate is 0.0700 SGD, implying the stock looks roughly 5.4% fairly valued today. The Quality Score stands at 64/100 (solid quality), in the Basic Materials 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, INTERNATIONAL CEMENT GROUPLTD. generated revenue of 379M SGD at a net margin of 15.8%. Revenue grew 50.7% year over year. It earns a return on equity of 24.2%. Net debt stands at 19.1M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.0407 SGD (bear case) to 0.1140 SGD (bull case); at 0.0740 SGD, the current price sits within 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 14% below its 52-week high and 311% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -60% fair-value upside, at -5%, KUO 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 0.0800 SGD 0.1300 SGD 0.2400 SGD 80
Residual Income 0.0600 SGD 0.0900 SGD 0.3700 SGD 76
Rev-Margin DCF 0.0800 SGD 0.1500 SGD 0.3000 SGD 74
All 24 models by family
DCF Models
FCF DCF 0.0900 SGD 0.1300 SGD 0.2500 SGD 38
Owner Earnings 0.0300 SGD 0.0800 SGD 0.1500 SGD 31
5Y Revenue Exit 0.0800 SGD 0.1300 SGD 0.2500 SGD 39
5Y EBITDA Exit 0.1200 SGD 0.2300 SGD 0.4300 SGD 41
5Y P/E Exit 0.1200 SGD 0.2700 SGD 0.4800 SGD 38
10Y Revenue Exit 0.0800 SGD 0.1700 SGD 0.2300 SGD 36
10Y EBITDA Exit 0.1100 SGD 0.2600 SGD 0.5200 SGD 37
10Y P/E Exit 0.1100 SGD 0.2500 SGD 0.4800 SGD 35
Earnings-Based
Graham-Dodd 0.0700 SGD 0.5000 SGD 0.7000 SGD 54
Lynch FV 0.1900 SGD 0.2800 SGD 0.3600 SGD 50
PEG = 1.0 0.1900 SGD 0.2800 SGD 0.3600 SGD 46
EPV 0.1000 SGD 0.1100 SGD 0.1300 SGD 59
Multiples
P/E Multiple 0.1300 SGD 0.1800 SGD 0.2200 SGD 63
P/S Multiple 0.0700 SGD 0.1000 SGD 0.1200 SGD 58
P/B Multiple 0.1200 SGD 0.1600 SGD 0.2000 SGD 55
EV/EBIT 0.1500 SGD 0.2000 SGD 0.2500 SGD 53
EV/EBITDA 0.1400 SGD 0.1800 SGD 0.2300 SGD 54
EV/Revenue 0.0700 SGD 0.1000 SGD 0.1300 SGD 43
Asset-Based
NCAV (Graham) 0.0300 SGD 0.0400 SGD 0.0500 SGD 50
Growth DCF
Growth DCF 0.0800 SGD 0.1300 SGD 0.2400 SGD 80
Rev-Margin DCF 0.0800 SGD 0.1500 SGD 0.3000 SGD 74
Economic Profit
Residual Income 0.0600 SGD 0.0900 SGD 0.3700 SGD 76
ROIC Compounder 0.1300 SGD 0.1800 SGD 0.2300 SGD 72
Growth Earnings
Growth-Adj P/E 0.2300 SGD 0.3300 SGD 0.4200 SGD 68

Widest divergence: Growth Earnings (0.3300 SGD) versus Asset-Based (0.0400 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 379M SGD
Revenue growth (YoY) +50.7%
Net margin 15.8%
Return on equity 24.2%
Free cash flow 37.3M SGD FY2025
P/E ratio 7.4
More key figures
Operating margin 26.1%
EPS (TTM) 0.0100 SGD
EPS growth (YoY) +1,500%
Net debt 19.1M SGD FY2025

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

Quality Score breakdown

Overall quality 64/100

Of which business quality 60 · Market factors (momentum, volatility) 58

Profitability 57
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 17
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 91
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.

About the company

International Cement Group Ltd., together with its subsidiaries, engages in the production, sale, and distribution of cement, gypsum plasterboards, and related products in Singapore, Malaysia, Afghanistan, Tajikistan, Kazakhstan, and internationally. The company operates through Aluminum, Cement, and Others segments.

Full company description

International Cement Group Ltd., together with its subsidiaries, engages in the production, sale, and distribution of cement, gypsum plasterboards, and related products in Singapore, Malaysia, Afghanistan, Tajikistan, Kazakhstan, and internationally. The company operates through Aluminum, Cement, and Others segments. It is also involved in the manufacture and marketing of aluminium curtain walling, windows, doors, and grilles. In addition, the company undertakes aluminium architectural contracts and engineering works; building construction subcontracting projects; and manufactures aluminium extrusions and supply related products. Further, it invests in land and buildings. The company was incorporated in 2015 and is headquartered in Singapore. International Cement Group Ltd. is a subsidiary of Victory Gate Ventures Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

INTERNATIONAL CEMENT GROUPLTD. reported revenue of 379M SGD in FY2025 versus 181M SGD in FY2021, a compound +20.2%/yr. Reported net income was 60.0M SGD in FY2025, compounding +22.8%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
379M SGD
Latest YoY
+47.2%
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.
+18.9%
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.
+21.7%
Avg. growth/yr (10Y) ⓘ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.
+26.9%
Revenue +20.2%/yr
FY21 181M SGD
FY22 225M SGD
FY23 257M SGD
FY24 257M SGD
FY25 379M SGD
Net income +22.8%/yr
FY21 26.4M SGD
FY22 28.9M SGD
FY23 13.7M SGD
FY24 135K SGD
FY25 60.0M SGD

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INTERNATIONAL CEMENT GROUPLTD. · Fair Value
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Cite: Fair Value Calculator (2026). "INTERNATIONAL CEMENT GROUPLTD. Fair Value". https://www.fairvalue-calculator.com/stock/KUO

Peer Group

Building Materials · 258 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 64 · Top 25%
Fair Value upside −5% · Above median
Return on equity (TTM) 24% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 26% · Top 25%
Revenue growth 51% · Top 25%
Debt / equity 0.10× · Lower than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 7.4× · Cheaper than 75% of peers
P/B 0.93× · Pricier than median
P/S (TTM) 0.75× · Cheaper than median
P/FCF 7.6× · Pricier than median
EV/EBITDA 2.5× · 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.

VALUE 26 · sector 23
FUTURE 100 · sector 2
PAST 97 · sector 15
HEALTH 95 · sector 93
DIVIDEND 0 · sector 52

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
UltraTech Cement Limited ULTRACEMCO ₹11,891 ₹4,718 -60%
China Jushi Co 600176 ¥40.56 ¥13.22 -67%
Grasim Industries Limited GRASIM ₹3,308 ₹1,245 -62%
CEMEX, S.A. CEMEXCPO 21.71 MXN 12.27 MXN -43%
Ambuja Cements Limited AMBUJACEM ₹421.00 ₹216.73 -49%
Shree Cement Limited SHREECEM ₹25,570 ₹8,215 -68%
TCC Group 1101B 43.15 TWD 9.76 TWD -77%
Taiwan Glass Ind. Corp 1802 57.60 TWD 13.98 TWD -76%
J.K. Cement Limited JKCEMENT ₹5,349 ₹2,184 -59%
Dalmia Bharat Limited DALBHARAT ₹1,842 ₹1,032 -44%

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Frequently asked questions

Is INTERNATIONAL CEMENT GROUPLTD. (KUO) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.0700 SGD versus a price of 0.0740 SGD, about −5% (fairly valued).
What is the fair value of KUO?
Our model-based fair value for INTERNATIONAL CEMENT GROUPLTD. is 0.0700 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.0740 SGD.
What is the quality score of KUO?
INTERNATIONAL CEMENT GROUPLTD. has a Quality Score of 64/100. 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 INTERNATIONAL CEMENT GROUPLTD. (KUO)?
INTERNATIONAL CEMENT GROUPLTD. reported trailing-twelve-month revenue of about 379M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of KUO?
The net profit margin of INTERNATIONAL CEMENT GROUPLTD. is about 15.8%, meaning it keeps roughly 15.8% of revenue as net income. Based on the latest reported figures.

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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