LUM CHANG HOLDINGS LIMITED (L19) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of LUM CHANG HOLDINGS LIMITED S$1.66, price S$0.56, upside +196.4%, quality 77 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 Oct 2, 2026.
How to read this chart
60‑month range 0.2136 SGD – 0.6938 SGD · fair‑value band 1.24 SGD – 2.08 SGD · the 0.5600 SGD price screens below the 1.66 SGD 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 2, 2026.
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Lum Chang Holdings Limited, together with its subsidiaries, engages in the construction, project management, and property development and investment activities in Singapore and Malaysia. The company operates in three segments: Construction; Property Development and Investment; and Investment Holding and Others.
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Lum Chang Holdings Limited, together with its subsidiaries, engages in the construction, project management, and property development and investment activities in Singapore and Malaysia. The company operates in three segments: Construction; Property Development and Investment; and Investment Holding and Others. It offers property portfolio consists of commercial and residential projects. The company also undertakes construction projects in the areas of civil and infrastructure, commercial, retail, hospital, hotels and leisure, industrial, institutional, mixed development, and residential properties. In addition, the company develops properties, such as apartments, condominiums, terrace houses, semi-detached houses, and bungalows, as well as shophouses. Further, it offers fitting out, conservation and restoration, and addition and alteration services; and construction management services. Additionally, the company provides property development for sale and property investment. Lum Chang Holdings Limited was incorporated in 1982 and is headquartered in Singapore.
Stock analysis
LUM CHANG HOLDINGS LIMITED (L19) currently trades at 0.5600 SGD, while our model-based Fair Value estimate is 1.66 SGD, implying the stock looks roughly 66.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2.22 SGD per share, and 23 of the 26 models we run sit above the 0.5600 SGD price.
Bear case: the Dividend Discount group reads lowest at 0.3000 SGD, and 3 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 1.24 SGD (bear) to 2.08 SGD (bull), the price of 0.5600 SGD sits below 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 77/100 (high quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
LUM CHANG HOLDINGS LIMITED reported revenue of 646M SGD in FY2026 versus 417M SGD in FY2022, a compound +11.6%/yr. Reported net income was 35.4M SGD in FY2026.
Key figures
Market cap 210M SGD (≈ $164M) · P/E ratio 6.2 · P/S ratio 0.34 · EPS (TTM) 0.0900 SGD · Dividend yield 2.7% · Net margin 5.5% · Return on equity 25.2% · Return on assets (EBIT) 2.9%.
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 19% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 196%, L19 screens cheaper than that median.
Fair Value models
Bear 1.24 SGDFair Value 1.66 SGDBull 2.08 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. Based on fiscal year 2026 figures (about 3 months old). Earnings retained since then (0.0195 SGD per share) are deliberately not added.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.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+39.6%
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.
+18.0%
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.
+14.7%
Start year 2021 (pandemic). Over 10 years: +4.2% a year
Revenue growth 12 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.
+7.3%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+89.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+86.6%
Dividend (yield on the price)2.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.64.3% vs 4.1%, picking up
Profit margin 2021 to 2026 ⓘ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.4% → 10%
2026 sits 209% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2021 (pandemic)
Growth Forecast
Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Compare LUM CHANG HOLDINGS LIMITED with another stock
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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.Engineering & Construction · 788 stocks
Beats the industry median on 13/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score77 · Top 25%
Fair Value upside+196.4% · Top 25%
Profitability
Return on equity (TTM)25.2% · Top 25%
Return on assets8.3% · Top 25%
Net margin (TTM)5.5% · Above median
Operating margin (TTM)12.0% · Top 25%
Growth and dividend
Revenue growth90.0% · Top 25%
Dividend yield (TTM)2.7% · Above median
Balance sheet
Debt / equity0.15× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Is LUM CHANG HOLDINGS LIMITED (L19) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 1.66 SGD versus a price of 0.5600 SGD, about +196% upside (undervalued).
What is the fair value of L19?
Our model-based fair value for LUM CHANG HOLDINGS LIMITED is 1.66 SGD (as of Oct 2, 2026), built from audited fundamentals. The current price: 0.5600 SGD.
What is the quality score of L19?
LUM CHANG HOLDINGS LIMITED has a Quality Score of 77/100. 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 LUM CHANG HOLDINGS LIMITED (L19)?
Our model-based price target is the fair value of 1.66 SGD (as of Oct 2, 2026) from 26 valuation models. Cautious scenario 1.24 SGD, optimistic scenario 2.08 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the LUM CHANG HOLDINGS LIMITED stock forecast for 2026?
Our models put fair value at 1.66 SGD, about +196% upside versus a price of 0.5600 SGD (undervalued). Cautious scenario 1.24 SGD, optimistic scenario 2.08 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of LUM CHANG HOLDINGS LIMITED (L19)?
LUM CHANG HOLDINGS LIMITED reported trailing-twelve-month revenue of about 646M SGD (latest available figure, as of Oct 2, 2026).
Does LUM CHANG HOLDINGS LIMITED pay a dividend?
LUM CHANG HOLDINGS LIMITED currently shows a dividend yield of about 2.68% relative to its recent price (as of Oct 2, 2026).
What growth is priced into LUM CHANG HOLDINGS LIMITED (L19)?
For today's price to be fair in a discounted-cash-flow model, LUM CHANG HOLDINGS LIMITED would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.7 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of L19 use?
Our models discount LUM CHANG HOLDINGS LIMITED at 11.2 %: a base by market capitalisation (micro), damped by beta 0.59, 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 LUM CHANG HOLDINGS LIMITED that is less than minus 40 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has LUM CHANG HOLDINGS LIMITED (L19) delivered so far?
Over the past 5 years revenue at LUM CHANG HOLDINGS LIMITED grew +14.7 % a year. The price currently implies less than minus 40 % 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 LUM CHANG HOLDINGS LIMITED (L19) growing?
The median revenue growth in the sector is +7.2 % a year. That is the yardstick for the growth priced into LUM CHANG HOLDINGS LIMITED (less than minus 40 % 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 LUM CHANG HOLDINGS LIMITED (L19)?
The free-cash-flow yield on the price is 47.72 %: that much free cash flow LUM CHANG HOLDINGS LIMITED produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of LUM CHANG HOLDINGS LIMITED (L19)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LUM CHANG HOLDINGS LIMITED it is 1.66 SGD per share (as of Oct 2, 2026), against a price of 0.5600 SGD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is LUM CHANG HOLDINGS LIMITED stock overvalued or undervalued in 2026?
As of Oct 2, 2026, L19 trades below its calculated fair value: price 0.5600 SGD, fair value 1.66 SGD, a gap of about +196% (undervalued). 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 L19?
No. The price is what the market pays today (0.5600 SGD); the fair value is what the company's own numbers justify (1.66 SGD). For LUM CHANG HOLDINGS LIMITED the two are 1.10 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is LUM CHANG HOLDINGS LIMITED worth?
The market values LUM CHANG HOLDINGS LIMITED at about 210M SGD (market capitalisation, as of Oct 2, 2026). Per share that is 0.5600 SGD; our models calculate a fair value of 1.66 SGD per share.
What do the bullish and bearish scenarios say about L19?
Our models span a range for LUM CHANG HOLDINGS LIMITED: cautious scenario 1.24 SGD, base 1.66 SGD, optimistic 2.08 SGD per share (as of Oct 2, 2026, price 0.5600 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of L19?
LUM CHANG HOLDINGS LIMITED trades at a price-to-earnings ratio of 6.2 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.66 SGD is built from several models across several years. Other multiples: PEG 2.8, P/B 1.0, P/S 0.3, EV/EBITDA 0.9.
What is the PEG ratio of L19?
The PEG ratio of LUM CHANG HOLDINGS LIMITED is 2.75 (P/E divided by earnings growth, as of Oct 2, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of LUM CHANG HOLDINGS LIMITED (L19)?
Balance-sheet figures for LUM CHANG HOLDINGS LIMITED (as of Oct 2, 2026): return on equity 25.2%, debt of 0.15 per unit of equity. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is L19 from its 52-week high?
LUM CHANG HOLDINGS LIMITED trades at 0.5600 SGD, about 19% below its 52-week high of 0.6938 SGD and 38% above the low of 0.4063 SGD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 1.66 SGD is for.
Which stocks are comparable to LUM CHANG HOLDINGS LIMITED?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 LUM CHANG HOLDINGS LIMITED stock attractive at the current price?
The data as of Oct 2, 2026: price 0.5600 SGD, calculated fair value 1.66 SGD (+196%), Quality Score 77/100, from 26 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 L19 calculated?
We run LUM CHANG HOLDINGS LIMITED through 26 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 1.66 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. LUM CHANG HOLDINGS LIMITED currently trades 66 % below its own fair value, and the market average says nothing about that. 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 LUM CHANG HOLDINGS LIMITED (L19)?
The closing price on Oct 2, 2026 was 0.5600 SGD. Our model-based fair value is 1.66 SGD, about +196% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LUM CHANG HOLDINGS LIMITED right now?
The rarer combination: high quality (77/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (1.24 SGD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of LUM CHANG HOLDINGS LIMITED
How large is the market capitalisation of LUM CHANG HOLDINGS LIMITED (L19)?
The market capitalisation of LUM CHANG HOLDINGS LIMITED is 210M SGD (≈ $164M). 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 LUM CHANG HOLDINGS LIMITED (L19)?
The price-to-sales ratio of LUM CHANG HOLDINGS LIMITED is 0.34 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of LUM CHANG HOLDINGS LIMITED (L19)?
Earnings per share at LUM CHANG HOLDINGS LIMITED are 0.0900 SGD (price ÷ EPS = P/E 6.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of LUM CHANG HOLDINGS LIMITED (L19)?
The dividend yield of LUM CHANG HOLDINGS LIMITED is 2.7% (payout 16.7%). 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 LUM CHANG HOLDINGS LIMITED (L19)?
The net margin of LUM CHANG HOLDINGS LIMITED is 5.5% (fiscal year 2026). 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 LUM CHANG HOLDINGS LIMITED (L19)?
The return on equity (ROE) of LUM CHANG HOLDINGS LIMITED is 25.2% (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 LUM CHANG HOLDINGS LIMITED (L19)?
On an EBIT basis the return on assets of LUM CHANG HOLDINGS LIMITED is 2.9% (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 LUM CHANG HOLDINGS LIMITED (L19)?
The operating margin of LUM CHANG HOLDINGS LIMITED is 12.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LUM CHANG HOLDINGS LIMITED (L19)?
Revenue at LUM CHANG HOLDINGS LIMITED is growing +90.0% versus a year earlier (3y avg +18.0%). 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 LUM CHANG HOLDINGS LIMITED (L19)?
Earnings per share at LUM CHANG HOLDINGS LIMITED are growing +133% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does LUM CHANG HOLDINGS LIMITED (L19) carry?
The net debt of LUM CHANG HOLDINGS LIMITED is 14.4M SGD (fiscal year 2024, ≈ 0.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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