NetLink NBN Trust (NETLF) fair value: what the stock is really worth
As of Sep 29, 2026: fair value of NetLink NBN Trust $0.28, price $0.75, upside -62.4%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
38‑month range $0.4866 – $0.8079 · fair‑value band $0.2100 – $0.3600 · the $0.7453 price screens above the $0.2800 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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NetLink NBN Trust, an investment holding company, owns, designs, builds, and operates the passive fibre network infrastructure for residential homes and non-residential premises, and non-building address point (NBAP) connections in mainland Singapore and its connected islands.
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NetLink NBN Trust, an investment holding company, owns, designs, builds, and operates the passive fibre network infrastructure for residential homes and non-residential premises, and non-building address point (NBAP) connections in mainland Singapore and its connected islands. The company's passive fiber network infrastructure comprising ducts, manholes, fibre cables, and central offices. NetLink NBN Trust was incorporated in 2017 and is based in Singapore.
Stock analysis
NetLink NBN Trust (NETLF) currently trades at $0.7453, while our model-based Fair Value estimate is $0.2800, 62.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of $0.3000 per share, and 0 of the 22 models we run sit above the $0.7453 price.
Bear case: the Growth DCF group reads lowest at $0.1600, and 22 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.2100 (bear) to $0.3600 (bull), the price of $0.7453 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Communication Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
NetLink NBN Trust reported revenue of 413M SGD in FY2026 versus 378M SGD in FY2022, a compound +2.3%/yr. Reported net income was 83.3M SGD in FY2026, compounding −2.3%/yr from FY2022.
Key figures
Market cap $2.9B · P/E ratio 37.3 · P/S ratio 7.51 · EPS (TTM) $0.0200 · Dividend yield 5.8% · Net margin 20.2% · Return on equity 3.8% · Return on assets (EBIT) 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 8% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 36% fair-value upside, at −62%, NETLF screens richer than that median.
Fair Value models
Bear $0.2100Fair Value $0.2800Bull $0.3600
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.61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+1.6%
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.
+0.8%
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.
+2.3%
Start year 2021 (pandemic)
Revenue growth 6 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.
+1.9%
’20
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years) ⓘ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.
+4.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.8%
Dividend (yield on the price)5.8%
Profit margin 2021 to 2026 ⓘ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.26% → 23%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+13.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in SGD, Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about +10.9% a year for the price and −0.4% for the forecasts.
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.Telecom Services · 230 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside−60.2% · Bottom 25%
Profitability
Return on equity (TTM)3.8% · Below median
Return on assets1.7% · Below median
Net margin (TTM)21.8% · Top 25%
Operating margin (TTM)20.7% · Above median
Growth and dividend
Revenue growth0.4% · Below median
Dividend yield (TTM)5.8% · Top 25%
Balance sheet
Debt / equity0.44× · Above median
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (TTM)37.3× · Priciest 25%
P/B1.64× · Cheaper than median
P/S (TTM)8.87× · Priciest 25%
P/FCF24.5× · Priciest 25%
EV/EBITDA14.8× · Priciest 25%
PEG16.44× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 45
FUTURE (revenue growth)2· sector 20
PAST (return on equity)15· sector 34
HEALTH (low debt)78· sector 86
DIVIDEND (yield)100· sector 71
VALUE 0: the price sits above our fair-value range.
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.
Is NetLink NBN Trust (NETLF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.2800 versus a price of $0.7453, about −62% upside (overvalued).
What is the fair value of NETLF?
Our model-based fair value for NetLink NBN Trust is $0.2800 (as of Sep 24, 2026), built from audited fundamentals. The current price: $0.7453.
What is the quality score of NETLF?
NetLink NBN Trust 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 price target for NetLink NBN Trust (NETLF)?
Our model-based price target is the fair value of $0.2800 (as of Sep 24, 2026) from 22 valuation models. Cautious scenario $0.2100, optimistic scenario $0.3600. It is a calculation from audited fundamentals, not an analyst target.
What is the NetLink NBN Trust stock forecast for 2026?
Our models put fair value at $0.2800, about −62% upside versus a price of $0.7453 (overvalued). Cautious scenario $0.2100, optimistic scenario $0.3600. The calculation is refreshed regularly with new filings.
What is the revenue of NetLink NBN Trust (NETLF)?
NetLink NBN Trust reported trailing-twelve-month revenue of about 419M SGD (latest available figure, as of Sep 24, 2026).
Does NetLink NBN Trust pay a dividend?
NetLink NBN Trust currently shows a dividend yield of about 5.77% relative to its recent price (as of Sep 24, 2026).
What growth is priced into NetLink NBN Trust (NETLF)?
For today's price to be fair in a discounted-cash-flow model, NetLink NBN Trust would have to grow free cash flow by +13.2 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of NETLF use?
Our models discount NetLink NBN Trust at 8.5 %: a base by market capitalisation (mid), damped by beta 0.14, country premium for USA. 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 NetLink NBN Trust that is +13.2 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has NetLink NBN Trust (NETLF) delivered so far?
Over the past 5 years revenue at NetLink NBN Trust grew +2.3 % a year. The price currently implies +13.2 % 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 NetLink NBN Trust (NETLF) growing?
The median revenue growth in the sector is +2.9 % a year. That is the yardstick for the growth priced into NetLink NBN Trust (+13.2 % 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 NetLink NBN Trust (NETLF)?
The free-cash-flow yield on the price is 4.09 %: that much free cash flow NetLink NBN Trust produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of NetLink NBN Trust (NETLF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NetLink NBN Trust it is $0.2800 per share (as of Sep 24, 2026), against a price of $0.7453. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is NetLink NBN Trust stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NETLF trades above its calculated fair value: price $0.7453, fair value $0.2800, a gap of about −62% (overvalued). 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 NETLF?
No. The price is what the market pays today ($0.7453); the fair value is what the company's own numbers justify ($0.2800). For NetLink NBN Trust the two are $0.4653 per share apart. That gap is exactly why we show both numbers side by side.
How much is NetLink NBN Trust worth?
The market values NetLink NBN Trust at about $2.9B (market capitalisation, as of Sep 24, 2026). Per share that is $0.7453; our models calculate a fair value of $0.2800 per share.
What do the bullish and bearish scenarios say about NETLF?
Our models span a range for NetLink NBN Trust: cautious scenario $0.2100, base $0.2800, optimistic $0.3600 per share (as of Sep 24, 2026, price $0.7453). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NETLF?
NetLink NBN Trust trades at a price-to-earnings ratio of 37.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.2800 is built from several models across several years. Other multiples: PEG 16.4, P/B 1.6, P/S 8.9, EV/EBITDA 14.8.
What is the PEG ratio of NETLF?
The PEG ratio of NetLink NBN Trust is 16.44 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of NetLink NBN Trust (NETLF)?
Balance-sheet figures for NetLink NBN Trust (as of Sep 24, 2026): return on equity 3.8%, debt of 0.44 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is NETLF from its 52-week high?
NetLink NBN Trust trades at $0.7453, about 8% below its 52-week high of $0.8079 and 6% above the low of $0.7053 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of $0.2800 is for.
Which stocks are comparable to NetLink NBN Trust?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, 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 NetLink NBN Trust stock attractive at the current price?
The data as of Sep 24, 2026: price $0.7453, calculated fair value $0.2800 (−62%), Quality Score 58/100, from 22 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 NETLF calculated?
We run NetLink NBN Trust through 22 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 $0.2800, 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. NetLink NBN Trust itself currently trades above fair value. 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 NetLink NBN Trust (NETLF)?
The closing price on Sep 29, 2026 was $0.7453. Our model-based fair value is $0.2800, about −62% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NetLink NBN Trust right now?
The price sits above even our optimistic bull case ($0.3600). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of NetLink NBN Trust
How large is the market capitalisation of NetLink NBN Trust (NETLF)?
The market capitalisation of NetLink NBN Trust is $2.9B. 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 NetLink NBN Trust (NETLF)?
The price-to-sales ratio of NetLink NBN Trust is 7.51 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of NetLink NBN Trust (NETLF)?
Earnings per share at NetLink NBN Trust are $0.0200 (price ÷ EPS = P/E 37.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of NetLink NBN Trust (NETLF)?
The dividend yield of NetLink NBN Trust is 5.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of NetLink NBN Trust (NETLF)?
The net margin of NetLink NBN Trust is 20.2% (fiscal year 2026). 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 NetLink NBN Trust (NETLF)?
The return on equity (ROE) of NetLink NBN Trust is 3.8% (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 NetLink NBN Trust (NETLF)?
On an EBIT basis the return on assets of NetLink NBN Trust is 2.8% (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 NetLink NBN Trust (NETLF)?
The operating margin of NetLink NBN Trust is 20.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NetLink NBN Trust (NETLF)?
Revenue at NetLink NBN Trust is growing +0.4% versus a year earlier (3y avg +0.8%). 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 NetLink NBN Trust (NETLF)?
Earnings per share at NetLink NBN Trust are growing −15.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does NetLink NBN Trust (NETLF) carry?
The net debt of NetLink NBN Trust is 740M SGD (fiscal year 2026, ≈ 4.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Sep 24, 2026