PROPNEX LIMITED (OYY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of PROPNEX LIMITED S$2.34, price S$1.76, upside +33.0%, quality 77 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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.
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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.
Stock analysis
PROPNEX LIMITED (OYY) currently trades at 1.76 SGD, while our model-based Fair Value estimate is 2.34 SGD, implying the stock looks roughly 24.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2.50 SGD per share, and 9 of the 14 models we run sit above the 1.76 SGD price.
Bear case: the Economic Profit group reads lowest at 0.7100 SGD, and 5 of the 14 models stay below the price. Evidence for this calculation is high.
Scenario range: 1.49 SGD (bear) to 3.58 SGD (bull), the price of 1.76 SGD sits inside 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 77/100 (high quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
Key figures
Market cap 1.3B SGD (≈ $1.0B) · P/E ratio 19.6 · P/S ratio 1.23 · EPS (TTM) 0.0900 SGD · Dividend yield 5.4% · Net margin 6.3% · Return on equity 56.9% · Return on assets (EBIT) 20.3%.
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 30% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at 33%, OYY screens cheaper than that median.
Fair Value models
Bear 1.49 SGDFair Value 2.34 SGDBull 3.58 SGD
Price 1.76 SGD · Upside +33.0%
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.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+42.6%
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.
+2.7%
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.
+16.7%
Start year 2020 (pandemic). Over 10 years: +18.5% a year
Revenue growth 10 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.
+18.5%
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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.
+9.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.9%
Dividend (yield on the price)5.4%
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.7% → 7%
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what 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).
+5.5%
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.
+2.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about +3.4% a year for the price and +0.9% 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.Real Estate Services · 525 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside+33.0% · Above median
Profitability
Return on equity (TTM)56.9% · Top 25%
Return on assets11.8% · Top 25%
Net margin (TTM)6.2% · Below median
Operating margin (TTM)7.2% · Below median
Growth and dividend
Revenue growth0.7% · Below median
Dividend yield (TTM)5.4% · Above median
Valuation Multiplesvs Real Estate Services 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). "PROPNEX LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/OYY
Frequently asked questions
Is PROPNEX LIMITED (OYY) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 2.34 SGD versus a price of 1.76 SGD, about +33% upside (undervalued).
What is the fair value of OYY?
Our model-based fair value for PROPNEX LIMITED is 2.34 SGD (as of Oct 2, 2026), built from audited fundamentals. The current price: 1.76 SGD.
What is the quality score of OYY?
PROPNEX LIMITED has a Quality Score of 77/100. 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 PROPNEX LIMITED (OYY)?
Our model-based price target is the fair value of 2.34 SGD (as of Oct 2, 2026) from 14 valuation models. Cautious scenario 1.49 SGD, optimistic scenario 3.58 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the PROPNEX LIMITED stock forecast for 2026?
Our models put fair value at 2.34 SGD, about +33% upside versus a price of 1.76 SGD (undervalued). Cautious scenario 1.49 SGD, optimistic scenario 3.58 SGD. The calculation is refreshed regularly with new filings.
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 Oct 2, 2026).
Does PROPNEX LIMITED pay a dividend?
PROPNEX LIMITED currently shows a dividend yield of about 5.40% relative to its recent price (as of Oct 2, 2026).
What growth is priced into PROPNEX LIMITED (OYY)?
For today's price to be fair in a discounted-cash-flow model, PROPNEX LIMITED would have to grow free cash flow by +5.5 % per year for five years (discount rate 11.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.7 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of OYY use?
Our models discount PROPNEX LIMITED at 11.3 %: a base by market capitalisation (small), damped by beta 1.12, 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 PROPNEX LIMITED that is +5.5 % per year a year over ten years, using the same discount rate (11.3 %) and the same formula as our fair value.
How much growth has PROPNEX LIMITED (OYY) delivered so far?
Over the past 5 years revenue at PROPNEX LIMITED grew +16.7 % a year. The price currently implies +5.5 % 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 PROPNEX LIMITED (OYY) growing?
The median revenue growth in the sector is +2.2 % a year. That is the yardstick for the growth priced into PROPNEX LIMITED (+5.5 % 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 PROPNEX LIMITED (OYY)?
The free-cash-flow yield on the price is 6.97 %: that much free cash flow PROPNEX LIMITED produces per unit of market value. When it exceeds the discount rate of our models (11.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of PROPNEX LIMITED (OYY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PROPNEX LIMITED it is 2.34 SGD per share (as of Oct 2, 2026), against a price of 1.76 SGD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is PROPNEX LIMITED stock overvalued or undervalued in 2026?
As of Oct 2, 2026, OYY trades below its calculated fair value: price 1.76 SGD, fair value 2.34 SGD, a gap of about +33% (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 OYY?
No. The price is what the market pays today (1.76 SGD); the fair value is what the company's own numbers justify (2.34 SGD). For PROPNEX LIMITED the two are 0.5800 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is PROPNEX LIMITED worth?
The market values PROPNEX LIMITED at about 1.3B SGD (market capitalisation, as of Oct 2, 2026). Per share that is 1.76 SGD; our models calculate a fair value of 2.34 SGD per share.
What do the bullish and bearish scenarios say about OYY?
Our models span a range for PROPNEX LIMITED: cautious scenario 1.49 SGD, base 2.34 SGD, optimistic 3.58 SGD per share (as of Oct 2, 2026, price 1.76 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of OYY?
PROPNEX LIMITED trades at a price-to-earnings ratio of 19.6 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2.34 SGD is built from several models across several years. Other multiples: PEG 0.7, P/B 11.2, P/S 1.2, EV/EBITDA 16.0.
What is the PEG ratio of OYY?
The PEG ratio of PROPNEX LIMITED is 0.73 (P/E divided by earnings growth, as of Oct 2, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of PROPNEX LIMITED (OYY)?
Balance-sheet figures for PROPNEX LIMITED (as of Oct 2, 2026): return on equity 56.9%. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is OYY from its 52-week high?
PROPNEX LIMITED trades at 1.76 SGD, about 30% below its 52-week high of 2.53 SGD and 11% above the low of 1.58 SGD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 2.34 SGD is for.
Which stocks are comparable to PROPNEX LIMITED?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, KE Holdings, Swire Properties Limited, 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 PROPNEX LIMITED stock attractive at the current price?
The data as of Oct 2, 2026: price 1.76 SGD, calculated fair value 2.34 SGD (+33%), Quality Score 77/100, from 14 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 OYY calculated?
We run PROPNEX LIMITED through 14 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 2.34 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 14.9 % above its aggregate fair value. PROPNEX LIMITED currently trades 25 % 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 PROPNEX LIMITED (OYY)?
The closing price on Oct 2, 2026 was 1.76 SGD. Our model-based fair value is 2.34 SGD, about +33% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PROPNEX LIMITED right now?
The rarer combination: high quality (77/100) AND below fair value. That earns a closer look rather than a quick verdict. A fairly wide model range (1.49 SGD to 3.58 SGD) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of PROPNEX LIMITED
How large is the market capitalisation of PROPNEX LIMITED (OYY)?
The market capitalisation of PROPNEX LIMITED is 1.3B SGD (≈ $1.0B). 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 PROPNEX LIMITED (OYY)?
The price-to-sales ratio of PROPNEX LIMITED is 1.23 (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 PROPNEX LIMITED (OYY)?
Earnings per share at PROPNEX LIMITED are 0.0900 SGD (price ÷ EPS = P/E 19.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PROPNEX LIMITED (OYY)?
The dividend yield of PROPNEX LIMITED is 5.4% (payout 106%). 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 PROPNEX LIMITED (OYY)?
The net margin of PROPNEX LIMITED is 6.3% (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 PROPNEX LIMITED (OYY)?
The return on equity (ROE) of PROPNEX LIMITED is 56.9% (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 PROPNEX LIMITED (OYY)?
On an EBIT basis the return on assets of PROPNEX LIMITED is 20.3% (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 PROPNEX LIMITED (OYY)?
The operating margin of PROPNEX LIMITED is 7.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PROPNEX LIMITED (OYY)?
Revenue at PROPNEX LIMITED is growing +0.7% versus a year earlier (3y avg +2.7%). 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 PROPNEX LIMITED (OYY)?
Earnings per share at PROPNEX LIMITED are growing −3.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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