COMBINE WILL INTL HLDGS LTD (N0Z) Fair Value & Analysis
Consumer Cyclical · SG · Market cap 38.1M SGD
Fair value as of: Aug 13, 2026
From 17 valuation models · updated 5 days ago
Fair value updated Aug 13, 2026, revised from 3.28 SGD to 3.29 SGD (+0.3%) since Aug 9, 2026. Share price +14.4% over the past month.
Below-average quality, screening 144% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (3.08 SGD). The market is more pessimistic than our downside scenario.
Price vs Fair Value (5 years)
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 0.6147 SGD – 1.36 SGD · fair‑value band 3.08 SGD – 4.27 SGD · the 1.35 SGD price screens below the 3.29 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
COMBINE WILL INTL HLDGS LTD (N0Z) currently trades at 1.35 SGD, while our model-based Fair Value estimate is 3.29 SGD, implying the stock looks roughly 143.7% undervalued today. The Quality Score stands at 44/100 (below-average 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 INTL HLDGS LTD 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 Aug 13, 2026
Our scenario range runs from 3.08 SGD (bear case) to 4.27 SGD (bull case); at 1.35 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 4% below its 52-week high and 26% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 11% fair-value upside, at 144%, N0Z 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.
All 17 models by family
Widest divergence: Multiples (22.40 SGD) versus Dividend Discount (0.8600 SGD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 65
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
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
COMBINE WILL INTL HLDGS LTD 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.
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Peer Group
Leisure · 190 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.
Valuation Multiples vs Leisure median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Leisure stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ANTA Sports Products Limited 2020 | HK$72.80 | HK$119.82 | +65% |
| Pop Mart International Group 9992 | HK$151.00 | HK$227.30 | +51% |
| Amer Sports, Inc AS | $33.03 | $16.16 | -51% |
| Hasbro, Inc HAS | $94.89 | $81.97 | -14% |
| Life Time Group LTH | $43.81 | $15.61 | -64% |
| Ninebot Limited 689009 | ¥44.94 | ¥39.73 | -12% |
| Li Ning Company 2331 | HK$14.59 | HK$29.45 | +102% |
| Asmodee Group ASMDEEB | kr 158.70 | kr 96.65 | -39% |
| Smartfit Escola de Ginástica e Dança S.A SMFT3 | R$17.25 | R$22.90 | +33% |
| Songcheng Performance Development Co 300144 | ¥6.17 | ¥6.85 | +11% |
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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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