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OUE LIMITED (LJ3) Fair Value & Analysis

Real Estate · SG · Market cap 759M SGD

OL OUE LIMITED LJ3 · SG
Price0.9800 SGD
Fair Value2.46 SGD
Upside+151.0%
Quality58/100
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Mixed Growth
Loss-making · -35.5% net margin
Moderate debt · generates free cash flow
1.98% dividend yield
Mixed vs. peers (6/14)
Narrow moat 35/100
Evidence: Medium Range 1.16 SGD – 3.82 SGD Share as image

Fair value as of: Aug 16, 2026

From 11 valuation models · updated 3 days ago

Fair value updated Aug 16, 2026, revised from 2.50 SGD to 2.46 SGD (−1.6%) since Aug 9, 2026. Share price −3.0% over the past month.

A solid business, screening 151% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (1.16 SGD). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (1.16 SGD to 3.82 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

1.29 SGD 0.8749 SGD Fair Value 2.46 SGD May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 16, 2026.

How to read this chart

60‑month range 0.8749 SGD – 1.29 SGD · fair‑value band 1.16 SGD – 3.82 SGD · the 0.9800 SGD price screens below the 2.46 SGD fair value. Dashed = 300-day average. As of Aug 16, 2026.

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Analysis

OUE LIMITED (LJ3) currently trades at 0.9800 SGD, while our model-based Fair Value estimate is 2.46 SGD, implying the stock looks roughly 151.0% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Real Estate 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: medium), always confirm before acting.

Over the trailing twelve months, OUE LIMITED generated revenue of 617M SGD at a net margin of -35.5%. Revenue declined 2.3% year over year. It earns a return on equity of -3.4%. Net debt stands at 2.6B SGD. Fundamentals as of Aug 16, 2026

Our scenario range runs from 1.16 SGD (bear case) to 3.82 SGD (bull case); at 0.9800 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 23% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -34% fair-value upside, at 151%, LJ3 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 0.3900 SGD 1.21 SGD 80
Rev-Margin DCF 1.09 SGD 2.43 SGD 74
EV/EBITDA 2.35 SGD 3.95 SGD 5.55 SGD 54
All 11 models by family
DCF Models
FCF DCF 0.4300 SGD 1.39 SGD 38
5Y Revenue Exit 1.07 SGD 2.57 SGD 39
5Y EBITDA Exit 0.8900 SGD 2.92 SGD 5.21 SGD 41
10Y Revenue Exit 0.6900 SGD 1.95 SGD 36
10Y EBITDA Exit 0.3400 SGD 1.84 SGD 3.72 SGD 37
Multiples
EV/EBIT 2.27 SGD 3.85 SGD 5.42 SGD 53
EV/EBITDA 2.35 SGD 3.95 SGD 5.55 SGD 54
EV/Revenue 0.1600 SGD 1.27 SGD 2.39 SGD 43
Asset-Based
NCAV (Graham) 1.99 SGD 2.67 SGD 3.98 SGD 50
Growth DCF
Growth DCF 0.3900 SGD 1.21 SGD 80
Rev-Margin DCF 1.09 SGD 2.43 SGD 74

Widest divergence: Multiples (3.85 SGD) versus Growth DCF (0.3900 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 617M SGD
Revenue growth (YoY) -2.3%
Net margin -35.5%
Return on equity -3.4%
Free cash flow 177M SGD FY2025
Operating margin 35.0%
More key figures
EPS (TTM) -0.2900 SGD
Dividend yield 2.0%
EPS growth (YoY) -59.1%
Net debt 2.6B SGD FY2025

Figures from reported company fundamentals · as of Aug 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 56 · Market factors (momentum, volatility) 43

Profitability 4
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 95
Earnings quality: real cash, not paper profit
Fin. Strength 31
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 94
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

OUE Limited operates as a real estate development, investment, and management company in Singapore, the People's Republic of China, Japan, and Indonesia. It operates through Real Estate, Healthcare, and Others segments.

Full company description

OUE Limited operates as a real estate development, investment, and management company in Singapore, the People's Republic of China, Japan, and Indonesia. It operates through Real Estate, Healthcare, and Others segments. The Real Estate segment comprises investment properties and fund management business, including rental of investment properties and management of real estate funds and investment properties under development; hospitality business, such as operation of hotels and hotel management; and development properties business, which engages in the sale of residential properties and other properties under development. Its Healthcare segment is involved in the operation of investment holdings, development of medical real estate, healthcare-related assets, and integrated mixed-use developments; and provision of healthcare services and management of healthcare investment trusts. The Others segment operates food and beverage outlets and consumer-related investments. The company was formerly known as Overseas Union Enterprise Limited. OUE Limited was incorporated in 1964 and is headquartered in Singapore. OUE Limited is a subsidiary of Oue Realty Pte Ltd. OUE Limted was incorporated in 1964 in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

OUE LIMITED reported revenue of 617M SGD in FY2025 versus 301M SGD in FY2021, a compound +19.7%/yr. Reported net income was −219M SGD in FY2025.

Growth Quality 35/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
617M SGD
Latest YoY
−4.6%
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.
+7.9%
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.
+3.1%
Avg. growth/yr (12Y) 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.
+2.9%
Revenue +19.7%/yr
FY21 301M SGD
FY22 491M SGD
FY23 623M SGD
FY24 646M SGD
FY25 617M SGD
Net income
FY21 80.9M SGD
FY22 190M SGD
FY23 82.7M SGD
FY24 −285M SGD
FY25 −219M SGD

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Cite: Fair Value Calculator (2026). "OUE LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/LJ3

Peer Group

Real Estate - Diversified · 138 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 59 · Above median
Fair Value upside +151% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) -36% · Bottom 25%
Operating margin (TTM) 35% · Above median
Revenue growth -2% · Below median
Dividend yield (TTM) 2.0% · Below median
Debt / equity 0.72× · Higher than median

Valuation Multiples vs Real Estate - Diversified median · lower = cheaper

P/B 0.20× · Cheaper than 75% of peers
P/S (TTM) 0.96× · Cheaper than median
P/FCF 3.4× · Pricier than median
EV/EBITDA 8.9× · Cheaper than median
PEG 2.84× · Pricier 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 100 · sector 43
FUTURE 0 · sector 31
PAST 0 · sector 18
HEALTH 64 · sector 74
DIVIDEND 40 · sector 60

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 Real Estate - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 16, 2026).

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Frequently asked questions

Is OUE LIMITED (LJ3) overvalued or undervalued?
As of Aug 16, 2026, our model estimates a fair value of 2.46 SGD versus a price of 0.9800 SGD, about +151% (undervalued).
What is the fair value of LJ3?
Our model-based fair value for OUE LIMITED is 2.46 SGD (as of Aug 16, 2026), built from audited fundamentals. The current price is 0.9800 SGD.
What is the quality score of LJ3?
OUE LIMITED has a Quality Score of 58/100. 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 OUE LIMITED (LJ3)?
OUE LIMITED reported trailing-twelve-month revenue of about 617M SGD (latest available figure, as of Aug 16, 2026).
What is the net profit margin of LJ3?
The net profit margin of OUE LIMITED is about -35.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does OUE LIMITED pay a dividend?
OUE LIMITED currently shows a dividend yield of about 1.98% relative to its recent price (as of Aug 16, 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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