NIPPECRAFT LIMITED (N32) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of NIPPECRAFT LIMITED S$0.05, price S$0.04, upside +21.6%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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.
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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.
Stock analysis
NIPPECRAFT LIMITED (N32) currently trades at 0.0380 SGD, while our model-based Fair Value estimate is 0.0462 SGD, implying the stock looks roughly 17.7% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 0.1300 SGD per share, and 18 of the 19 models we run sit above the 0.0380 SGD price.
Bear case: the Earnings-Based group reads lowest at 0.0200 SGD, and 1 of the 19 models stay below the price. Evidence for this calculation is low.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
NIPPECRAFT LIMITED reported revenue of $99.8M in FY2025 versus $140M in FY2021, a compound −8.1%/yr. Reported net income was $784K in FY2025, compounding +24.7%/yr from FY2021.
Key figures
Market cap 13.4M SGD (≈ $10.4M) · P/S ratio 0.12 · Net margin 0.8% · Return on equity 2.4% · Return on assets (EBIT) −0.1% · Operating margin 2.0% · Revenue (TTM) $99.8M · Revenue growth (YoY) −4.1%.
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 22% below its 52-week high and 36% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 18% fair-value upside, at 22%, N32 screens cheaper than that median.
Fair Value models
Bear 0.0462 SGDFair Value 0.0462 SGDBull 0.0462 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.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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−5.3%
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.
−8.4%
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.
−7.0%
Start year 2020 (pandemic). Over 10 years: −8.4% 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.
−0.9%
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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.
+67.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+67.8%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.0% → 0%
2025 sits 62% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Revenue per share shrinking 2.2%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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.
Price, fair value, quality and upside side by side.
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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.Paper & Paper Products · 117 stocks
Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside+21.6% · Above median
Profitability
Return on equity (TTM)2.4% · Below median
Return on assets−0.5% · Bottom 25%
Net margin (TTM)0.8% · Below median
Operating margin (TTM)2.0% · Below median
Growth and dividend
Revenue growth−4.1% · Below median
Valuation Multiplesvs Paper & Paper Products median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "NIPPECRAFT LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/N32
Frequently asked questions
Is NIPPECRAFT LIMITED (N32) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 0.0462 SGD versus a price of 0.0380 SGD, about +22% upside (undervalued).
What is the fair value of N32?
Our model-based fair value for NIPPECRAFT LIMITED is 0.0462 SGD (as of Sep 27, 2026), built from audited fundamentals. The current price: 0.0380 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 price target for NIPPECRAFT LIMITED (N32)?
Our model-based price target is the fair value of 0.0462 SGD (as of Sep 27, 2026) from 19 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the NIPPECRAFT LIMITED stock forecast for 2026?
Our models put fair value at 0.0462 SGD, about +22% upside versus a price of 0.0380 SGD (undervalued). The calculation is refreshed regularly with new filings.
What is the revenue of NIPPECRAFT LIMITED (N32)?
NIPPECRAFT LIMITED reported trailing-twelve-month revenue of about $99.8M (latest available figure, as of Sep 27, 2026).
What growth is priced into NIPPECRAFT LIMITED (N32)?
For today's price to be fair in a discounted-cash-flow model, NIPPECRAFT LIMITED would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -7.0 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of N32 use?
Our models discount NIPPECRAFT LIMITED at 9.5 %: a base by market capitalisation (nano), 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 NIPPECRAFT LIMITED that is less than minus 40 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has NIPPECRAFT LIMITED (N32) delivered so far?
Over the past 5 years revenue at NIPPECRAFT LIMITED grew -7.0 % 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 NIPPECRAFT LIMITED (N32) growing?
The median revenue growth in the sector is +6.3 % a year. That is the yardstick for the growth priced into NIPPECRAFT 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 NIPPECRAFT LIMITED (N32)?
The free-cash-flow yield on the price is 12.21 %: that much free cash flow NIPPECRAFT LIMITED produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of NIPPECRAFT LIMITED (N32)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NIPPECRAFT LIMITED it is 0.0462 SGD per share (as of Sep 27, 2026), against a price of 0.0380 SGD. It is the blended result of 19 valuation models (cash flow, earnings, asset, dividend).
Is NIPPECRAFT LIMITED stock overvalued or undervalued in 2026?
As of Sep 27, 2026, N32 trades below its calculated fair value: price 0.0380 SGD, fair value 0.0462 SGD, a gap of about +22% (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 N32?
No. The price is what the market pays today (0.0380 SGD); the fair value is what the company's own numbers justify (0.0462 SGD). For NIPPECRAFT LIMITED the two are 0.0082 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is NIPPECRAFT LIMITED worth?
The market values NIPPECRAFT LIMITED at about 13.4M SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.0380 SGD; our models calculate a fair value of 0.0462 SGD per share.
What is the PEG ratio of N32?
The PEG ratio of NIPPECRAFT LIMITED is 1.46 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of NIPPECRAFT LIMITED (N32)?
Balance-sheet figures for NIPPECRAFT LIMITED (as of Sep 27, 2026): return on equity 2.4%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is N32 from its 52-week high?
NIPPECRAFT LIMITED trades at 0.0380 SGD, about 22% below its 52-week high of 0.0490 SGD and 36% above the low of 0.0280 SGD (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of 0.0462 SGD is for.
Which stocks are comparable to NIPPECRAFT LIMITED?
From the same area (Basic Materials) we also value UPM-Kymmene Oyj, Shandong Sunpaper Co, Nine Dragons Paper (Holdings) Limited, The Navigator Company, 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 NIPPECRAFT LIMITED stock attractive at the current price?
The data as of Sep 27, 2026: price 0.0380 SGD, calculated fair value 0.0462 SGD (+22%), Quality Score 62/100, from 19 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 N32 calculated?
We run NIPPECRAFT LIMITED through 19 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 0.0462 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. NIPPECRAFT LIMITED currently trades 18 % 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 NIPPECRAFT LIMITED (N32)?
The closing price on Sep 30, 2026 was 0.0380 SGD. Our model-based fair value is 0.0462 SGD, about +22% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NIPPECRAFT LIMITED right now?
The price is below even our cautious bear case (0.0462 SGD). The market is more pessimistic than our downside scenario. Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of NIPPECRAFT LIMITED
How large is the market capitalisation of NIPPECRAFT LIMITED (N32)?
The market capitalisation of NIPPECRAFT LIMITED is 13.4M SGD (≈ $10.4M). 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 NIPPECRAFT LIMITED (N32)?
The price-to-sales ratio of NIPPECRAFT LIMITED is 0.12 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of NIPPECRAFT LIMITED (N32)?
The net margin of NIPPECRAFT LIMITED is 0.8% (fiscal year 2025). 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 NIPPECRAFT LIMITED (N32)?
The return on equity (ROE) of NIPPECRAFT LIMITED is 2.4% (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 NIPPECRAFT LIMITED (N32)?
On an EBIT basis the return on assets of NIPPECRAFT LIMITED is −0.1% (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 NIPPECRAFT LIMITED (N32)?
The operating margin of NIPPECRAFT LIMITED is 2.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NIPPECRAFT LIMITED (N32)?
Revenue at NIPPECRAFT LIMITED is growing −4.1% versus a year earlier (3y avg −8.4%). 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 NIPPECRAFT LIMITED (N32)?
Earnings per share at NIPPECRAFT LIMITED are growing −7.5% versus a year earlier. How much earnings per share grew versus a year earlier.
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