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NIPPECRAFT LIMITED (N32) Fair Value & Analysis

Basic Materials · SG · Market cap 11.9M SGD

NL NIPPECRAFT LIMITED N32 · SG
Price0.0340 SGD
Fair Value0.0360 SGD
Upside+5.9%
Quality62/100
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Weak Growth
Thin margins · 0.8% net margin
generates free cash flow
Trails peers (4/11)
Narrow moat 17/100
Evidence: High Range 0.0326 SGD – 0.0394 SGD Share as image

Fair value as of: Aug 13, 2026

From 19 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 0.0374 SGD to 0.0360 SGD (−3.8%) since Aug 9, 2026. Share price +3.0% over the past month.

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

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What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 0.0326 SGD (bear) to 0.0394 SGD (bull), base 0.0360 SGD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 62/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

0.1290 SGD 0.0300 SGD Fair Value 0.0360 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 0.0300 SGD – 0.1290 SGD · fair‑value band 0.0326 SGD – 0.0394 SGD · the 0.0340 SGD price screens below the 0.0360 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

NIPPECRAFT LIMITED (N32) currently trades at 0.0340 SGD, while our model-based Fair Value estimate is 0.0360 SGD, implying the stock looks roughly 5.9% fairly valued today. The Quality Score stands at 62/100 (solid quality), in the Basic Materials 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, NIPPECRAFT LIMITED generated revenue of 99.8M SGD at a net margin of 0.8%. Revenue declined 4.1% year over year. It earns a return on equity of 2.4%. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.0326 SGD (bear case) to 0.0394 SGD (bull case); at 0.0340 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 33% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 0% fair-value upside, at 6%, N32 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 0.0900 SGD 0.1000 SGD 72
Growth-Adj P/E 0.0200 SGD 0.0300 SGD 0.0400 SGD 68
Rev-Margin DCF 0.0800 SGD 0.1000 SGD 0.1100 SGD 67
All 19 models by family
DCF Models
FCF DCF 0.0800 SGD 0.0900 SGD 0.1000 SGD 38
Owner Earnings 0.0800 SGD 0.0900 SGD 0.1000 SGD 31
5Y Revenue Exit 0.0800 SGD 0.0900 SGD 0.1100 SGD 39
5Y EBITDA Exit 0.0700 SGD 0.0700 SGD 0.0700 SGD 41
5Y P/E Exit 0.0800 SGD 0.0900 SGD 0.1000 SGD 38
10Y Revenue Exit 0.0800 SGD 0.0900 SGD 0.1000 SGD 36
10Y EBITDA Exit 0.0700 SGD 0.0800 SGD 0.0800 SGD 37
10Y P/E Exit 0.0800 SGD 0.0900 SGD 0.0900 SGD 35
Earnings-Based
Graham-Dodd 0.0200 SGD 0.0200 SGD 0.0200 SGD 54
Multiples
P/E Multiple 0.0300 SGD 0.0400 SGD 0.0500 SGD 63
P/S Multiple 0.0300 SGD 0.0400 SGD 0.0500 SGD 58
P/B Multiple 0.0300 SGD 0.0400 SGD 0.0500 SGD 55
EV/EBITDA 0.0600 SGD 0.0600 SGD 0.0600 SGD 54
EV/Revenue 0.0900 SGD 0.1000 SGD 0.1200 SGD 43
Asset-Based
NCAV (Graham) 0.0500 SGD 0.0600 SGD 0.1000 SGD 50
Growth DCF
Growth DCF 0.0800 SGD 0.0900 SGD 0.1000 SGD 72
Rev-Margin DCF 0.0800 SGD 0.1000 SGD 0.1100 SGD 67
Economic Profit
Residual Income 0.0600 SGD 0.0600 SGD 0.0400 SGD 61
Growth Earnings
Growth-Adj P/E 0.0200 SGD 0.0300 SGD 0.0400 SGD 68

Widest divergence: DCF Models (0.0900 SGD) versus Earnings-Based (0.0200 SGD). Highest evidence: Growth DCF (72).

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Key figures & financial health

Revenue (TTM) 99.8M SGD
Revenue growth (YoY) -4.1%
Net margin 0.8%
Return on equity 2.4%
Free cash flow 1.3M SGD FY2025
Operating margin 2.0%
More key figures
EPS growth (YoY) -7.5%

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 64 · Market factors (momentum, volatility) 23

Profitability 37
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 11
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

Nippecraft Limited, together with its subsidiaries, engages in trading and sourcing of recycled waste, chemicals, papers, paper bags, pulp, and other related materials. The company operates through two segments, Stationery Business and Trading Business.

Full company description

Nippecraft Limited, together with its subsidiaries, engages in trading and sourcing of recycled waste, chemicals, papers, paper bags, pulp, and other related materials. The company operates through two segments, Stationery Business and Trading Business. It also designs, develops, manufactures, markets, and sells diaries/planners, journals, notebooks, organizers and refills, compendiums/conference folders, calendars, and other stationery products for the office, home, and school environment. The company offers its products under the Collins, Debden, and Jumble & Co. brands. In addition, it supplies paper-based stationery products. The company operates in the Asia Pacific, Europe, the United Kingdom, and internationally. Nippecraft Limited was incorporated in 1977 and is headquartered in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NIPPECRAFT LIMITED reported revenue of 99.8M SGD in FY2025 versus 140M SGD in FY2021, a compound −8.1%/yr. Reported net income was 784K SGD in FY2025, compounding +24.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
99.8M SGD
Latest YoY
−5.3%
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.
−8.4%
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.
−7.0%
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.
−0.9%
Revenue −8.1%/yr
FY21 140M SGD
FY22 130M SGD
FY23 112M SGD
FY24 105M SGD
FY25 99.8M SGD
Net income +24.7%/yr
FY21 324K SGD
FY22 4.0K SGD
FY23 1.3M SGD
FY24 485K SGD
FY25 784K SGD

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Cite: Fair Value Calculator (2026). "NIPPECRAFT LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/N32

Peer Group

Paper & Paper Products · 115 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 62 · Top 25%
Fair Value upside +18% · Above median
Return on equity (TTM) 2% · Below median
Return on assets -0% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth -4% · Below median

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/B 0.28× · Cheaper than 75% of peers
P/S (TTM) 0.09× · Cheaper than 75% of peers
P/FCF 7.3× · Pricier than 75% of peers
PEG 1.46× · Pricier than median

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 57 · sector 27
FUTURE 0 · sector 4
PAST 10 · sector 12
HEALTH 0 · sector 91
DIVIDEND 0 · sector 54

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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Klabin S.A KLBN11 R$17.55 R$3.80 -78%
UPM-Kymmene Oyj UPM €23.18 €14.21 -39%
Suzano S.A SUZ $8.02 $23.77 +196%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAB kr 109.40 kr 49.40 -55%
Shandong Sunpaper Co 002078 ¥13.94 ¥17.29 +24%
Holmen AB HOLMB kr 314.00 kr 217.72 -31%
Nine Dragons Paper (Holdings) Limited 2689 HK$8.21 HK$8.74 +6%
Empresas CMPC S.A CMPC 1,000 CLP 1,253 CLP +25%
Xianhe Co 603733 ¥21.11 ¥21.06 -0%
Billerud AB BILL kr 77.60 kr 48.60 -37%

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Frequently asked questions

Is NIPPECRAFT LIMITED (N32) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.0360 SGD versus a price of 0.0340 SGD, about +6% (fairly valued).
What is the fair value of N32?
Our model-based fair value for NIPPECRAFT LIMITED is 0.0360 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.0340 SGD.
What is the quality score of N32?
NIPPECRAFT LIMITED has a Quality Score of 62/100. 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 NIPPECRAFT LIMITED (N32)?
NIPPECRAFT LIMITED reported trailing-twelve-month revenue of about 99.8M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of N32?
The net profit margin of NIPPECRAFT LIMITED is about 0.8%, meaning it keeps roughly 0.8% 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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