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PROPNEX LIMITED (OYY) Fair Value & Analysis

Real Estate · SG · Market cap 1.4B SGD

PL PROPNEX LIMITED OYY · SG
Price1.82 SGD
Fair Value1.64 SGD
Upside-9.9%
Quality75/100
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Healthy Growth
Thin margins · 6.3% net margin
generates free cash flow
5.16% dividend yield
Mixed vs. peers (8/14)
Moderate moat 62/100
Evidence: High Range 1.21 SGD – 3.56 SGD Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated 5 days ago

Share price +2.2% over the past month.

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

What matters now

  • The model range is unusually wide (1.21 SGD to 3.56 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

2.53 SGD 0.4103 SGD Fair Value 1.64 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 0.4103 SGD – 2.53 SGD · fair‑value band 1.21 SGD – 3.56 SGD · the 1.82 SGD price screens above the 1.64 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

PROPNEX LIMITED (OYY) currently trades at 1.82 SGD, while our model-based Fair Value estimate is 1.64 SGD, implying the stock looks roughly 9.9% fairly valued today. The Quality Score stands at 75/100 (high quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, PROPNEX LIMITED generated revenue of 1.1B SGD at a net margin of 6.3%. Revenue grew 18.3% year over year. It earns a return on equity of 61.4%. The stock trades on a trailing P/E of 18.2. Fundamentals as of Aug 13, 2026

Our scenario range runs from 1.21 SGD (bear case) to 3.56 SGD (bull case); at 1.82 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 29% below its 52-week high and 77% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at -10%, OYY screens richer 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
Residual Income 0.7500 SGD 1.30 SGD 27.04 SGD 76
Growth DCF 1.53 SGD 2.43 SGD 3.77 SGD 72
Rev-Margin DCF 1.33 SGD 2.15 SGD 3.26 SGD 67
All 14 models by family
DCF Models
FCF DCF 1.57 SGD 2.63 SGD 4.34 SGD 38
5Y Revenue Exit 1.33 SGD 2.17 SGD 3.32 SGD 39
5Y EBITDA Exit 1.56 SGD 2.65 SGD 4.06 SGD 41
10Y Revenue Exit 1.37 SGD 2.17 SGD 3.43 SGD 36
10Y EBITDA Exit 1.54 SGD 2.50 SGD 4.01 SGD 37
Multiples
P/S Multiple 1.21 SGD 1.62 SGD 2.02 SGD 58
P/B Multiple 0.2400 SGD 0.3100 SGD 0.3900 SGD 55
EV/EBIT 2.03 SGD 2.64 SGD 3.25 SGD 53
EV/EBITDA 1.66 SGD 2.15 SGD 2.63 SGD 54
EV/Revenue 1.21 SGD 1.64 SGD 2.08 SGD 43
Asset-Based
NCAV (Graham) 0.0800 SGD 0.1100 SGD 0.1600 SGD 50
Growth DCF
Growth DCF 1.53 SGD 2.43 SGD 3.77 SGD 72
Rev-Margin DCF 1.33 SGD 2.15 SGD 3.26 SGD 67
Economic Profit
Residual Income 0.7500 SGD 1.30 SGD 27.04 SGD 76

Widest divergence: DCF Models (2.50 SGD) versus Asset-Based (0.1100 SGD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.1B SGD
Revenue growth (YoY) +18.3%
Net margin 6.3%
Return on equity 61.4%
Free cash flow 90.8M SGD FY2025
P/E ratio 18.2
More key figures
Operating margin 5.4%
EPS (TTM) 0.1000 SGD
Dividend yield 5.2%
EPS growth (YoY) +28.4%

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

Quality Score breakdown

Overall quality 75/100

Of which business quality 73 · Market factors (momentum, volatility) 38

Profitability 79
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 40
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

PropNex Limited, an investment holding company, provides real estate services in Singapore. The company operates through Agency Services, Project Marketing Services, Administrative Support Services, and Training Services segments.

Full company description

PropNex Limited, an investment holding company, provides real estate services in Singapore. The company operates through Agency Services, Project Marketing Services, Administrative Support Services, and Training Services segments. The Agency Services segment engages in the sale and lease of public and private residential and commercial/industrial properties, including housing and development board flats and executive condominiums, private condominiums, landed properties, retail shops, offices, and factories. The Project Marketing Services segment is involved in the sale of new private residential development projects for third-party property developers. The Administrative Support Services segment provides space and other ancillary services. The Training Services segment offers real estate related courses and training programs to salespersons. It also operates web portals. PropNex Limited was founded in 1996 and is headquartered in Singapore. PropNex Limited is a subsidiary of UOB Kay Hian Pte Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PROPNEX LIMITED reported revenue of 1.1B SGD in FY2025 versus 957M SGD in FY2021, a compound +3.9%/yr. Reported net income was 70.4M SGD in FY2025, compounding +4.1%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.1B SGD
Latest YoY
+42.6%
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.
+2.7%
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.
+16.7%
Avg. growth/yr (10Y) 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.
+18.5%
Revenue +3.9%/yr
FY21 957M SGD
FY22 1.0B SGD
FY23 838M SGD
FY24 783M SGD
FY25 1.1B SGD
Net income +4.1%/yr
FY21 60.0M SGD
FY22 62.4M SGD
FY23 47.8M SGD
FY24 40.9M SGD
FY25 70.4M SGD

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

Peer Group

Real Estate Services · 532 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 75 · Top 25%
Fair Value upside −10% · Below median
Return on equity (TTM) 61% · Top 25%
Return on assets 15% · Top 25%
Net margin (TTM) 6% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 18% · Top 25%
Dividend yield (TTM) 5.2% · Above median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 18.2× · Pricier than median
P/B 9.18× · Pricier than 75% of peers
P/S (TTM) 0.96× · Cheaper than median
P/FCF 11.7× · Pricier than 75% of peers
EV/EBITDA 12.4× · Cheaper than median
PEG 0.73× · Cheaper 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 20 · sector 34
FUTURE 92 · sector 10
PAST 100 · sector 16
HEALTH 0 · sector 85
DIVIDEND 100 · sector 59

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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 422.00 IDR 1,012 IDR +140%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is PROPNEX LIMITED (OYY) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.64 SGD versus a price of 1.82 SGD, about −10% (fairly valued).
What is the fair value of OYY?
Our model-based fair value for PROPNEX LIMITED is 1.64 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 1.82 SGD.
What is the quality score of OYY?
PROPNEX LIMITED has a Quality Score of 75/100. 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 PROPNEX LIMITED (OYY)?
PROPNEX LIMITED reported trailing-twelve-month revenue of about 1.1B SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of OYY?
The net profit margin of PROPNEX LIMITED is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does PROPNEX LIMITED pay a dividend?
PROPNEX LIMITED currently shows a dividend yield of about 5.16% relative to its recent price (as of Aug 13, 2026).

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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