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Combine Will International Holdings (N0Z) Fair Value & Analysis

Consumer Cyclical · SG · Market cap 38.1M SGD

CW Combine Will International Holdings N0Z · SG
Price1.18 SGD
Fair Value3.22 SGD
Upside+172.9%
Quality51/100
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Evidence: High Range 2.41 SGD – 4.02 SGD

Fair value as of: Jul 4, 2026

From 16 valuation models · updated yesterday

Share price −1.7% over the past month.

Price vs Fair Value (12 months)

1.36 SGD 1.07 SGD Fair Value 3.22 SGD Jul 2025 Jul 2026

12‑month range 1.07 SGD – 1.36 SGD · fair‑value band 2.41 SGD – 4.02 SGD · the 1.18 SGD price screens below the 3.22 SGD fair value. As of Jul 4, 2026.

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Analysis

Combine Will International Holdings (N0Z) currently trades at 1.18 SGD, while our model-based Fair Value estimate is 3.22 SGD — implying the stock looks roughly 172.9% undervalued today. We read business quality at 51/100 (solid 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, Combine Will International Holdings generated revenue of 1.8B SGD at a net margin of 2.1%. Revenue grew 15.9% year over year. It earns a return on equity of 4.8%. Net debt stands at 513M SGD. Fundamentals as of Jul 4, 2026

Key figures & financial health

Revenue (TTM) 1.8B SGD
Revenue growth (YoY) +15.9%
Net margin 2.1%
Return on equity 4.8%
Free cash flow −172M SGD FY2025
P/E ratio 6.2
More key figures
Operating margin 4.3%
EPS (TTM) 0.1900 SGD
EPS growth (YoY) -13.6%
Net debt 513M SGD FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 4, 2026. TTM = trailing twelve months.

About the company

Combine Will International Holdings Limited, an investment holding company, operates as an original design manufacturer, original equipment manufacturer supplier of toys, plush, corporate premiums, and consumer products. The company also manufactures and trades in plastic toys, die castings, and premium items; trading of electronics parts for the toys; manufacturing of electronics parts; and leasing activities. It operates in the People's Republic of China, Hong Kong, Macau, Taiwan, Germany, and internationally. The company was founded in 1992 and is based in Tai Po, Hong Kong. Combine Will International Holdings Limited is a subsidiary of DJKS Holdings Limited.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Combine Will International Holdings reported revenue of 1.8B SGD in FY2025 versus 1.1B SGD in FY2021, a compound +12.3%/yr. Reported net income was 37.1M SGD in FY2025, compounding −2.3%/yr from FY2021.

Revenue +12.3%/yr
FY21 1.1B SGD
FY22 1.3B SGD
FY23 1.1B SGD
FY24 1.5B SGD
FY25 1.8B SGD
Net income −2.3%/yr
FY21 40.8M SGD
FY22 42.8M SGD
FY23 42.5M SGD
FY24 45.7M SGD
FY25 37.1M SGD

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Frequently asked questions

Is Combine Will International Holdings (N0Z) undervalued?
As of Jul 4, 2026, our model estimates a fair value of 3.22 SGD versus a price of 1.18 SGD — about +173% (undervalued). Model-based estimate, not financial advice.
What is the fair value of N0Z?
Our model-based fair value for Combine Will International Holdings is 3.22 SGD (as of Jul 4, 2026), built from audited fundamentals. The current price is 1.18 SGD.
What is the quality score of N0Z?
Combine Will International Holdings has a Quality Score of 51/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Combine Will International Holdings (N0Z)?
Combine Will International Holdings reported trailing-twelve-month revenue of about 1.8B SGD (latest available figure, as of Jul 4, 2026).
What is the net profit margin of N0Z?
The net profit margin of Combine Will International Holdings is about 2.1%, meaning it keeps roughly 2.1% 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.