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Delfi Limited (P34) Fair Value & Analysis

Consumer Defensive · SG · Market cap 550M SGD

DL Delfi Limited P34 · SG
Price0.8900 SGD
Fair Value1.14 SGD
Upside+28.1%
Quality65/100
Mixed Growth
Thin margins · 6.7% net margin
Low debt · generates free cash flow
2.97% dividend yield
Ranks above peers (10/15)
Narrow moat 44/100
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Evidence: High Range 0.8600 SGD – 1.43 SGD Share as image

Fair value as of: Jul 4, 2026

From 22 valuation models · updated 26 days ago

Share price −1.1% over the past month.

Price vs Fair Value (12 months)

1.20 SGD 0.7129 SGD Fair Value 1.14 SGD Aug 2025 Jul 2026

12‑month range 0.7129 SGD – 1.20 SGD · fair‑value band 0.8600 SGD – 1.43 SGD · the 0.8900 SGD price screens below the 1.14 SGD fair value. As of Jul 4, 2026.

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Analysis

Delfi Limited (P34) currently trades at 0.8900 SGD, while our model-based Fair Value estimate is 1.14 SGD, implying the stock looks roughly 28.1% undervalued today. We read business quality at 65/100 (solid quality), in the Consumer Defensive 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, Delfi Limited generated revenue of 500M SGD at a net margin of 6.7%. Revenue declined 0.5% year over year. It earns a return on equity of 12.2%. The balance sheet holds a net cash position of 56.8M SGD. Fundamentals as of Jul 4, 2026

Our scenario range runs from 0.8600 SGD (bear case) to 1.43 SGD (bull case); at 0.8900 SGD, the current price sits within that range. The share trades about 27% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -28% fair-value upside, at 28%, P34 screens cheaper than that median.

Key figures & financial health

Revenue (TTM) 500M SGD
Revenue growth (YoY) -0.5%
Net margin 6.7%
Return on equity 12.2%
Free cash flow 68.7M SGD FY2025
P/E ratio 12.9
More key figures
Operating margin 10.4%
EPS (TTM) 0.0700 SGD
Dividend yield 3.0%
EPS growth (YoY) +46.3%
Net cash 56.8M SGD FY2022

Figures from reported company fundamentals · as of Jul 4, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100
Profitability 56
Quality Growth 45
Cashflow 78
Fin. Strength 90
Investment 87
Low Volatility 76
Momentum 40
52W Momentum 40
Net Issuance 82

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

Delfi Limited, an investment holding company, manufactures, markets, distributes, and sells chocolate, chocolate confectionery, and consumer products in Indonesia, the Philippines, Malaysia, Singapore, and internationally.

Full company description

Delfi Limited, an investment holding company, manufactures, markets, distributes, and sells chocolate, chocolate confectionery, and consumer products in Indonesia, the Philippines, Malaysia, Singapore, and internationally. The company's offers molded chocolate, dragees, enrobed wafers, and wafers and biscuits chocolate confectionery products under the SilverQueen, Ceres, Delfi, Goya, and KnickKnacks brand names. It sells its products through major hypermarkets, supermarkets, modern wholesalers, localised wholesalers, retailers, chain stores, as well as traditional corner stores. The company also sells its products to Thailand, Brunei, India, South Korea, and Vietnam. The company was formerly known as Petra Foods Limited and changed its name to Delfi Limited in May 2016. Delfi Limited was incorporated in 1984 and is headquartered in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Delfi Limited reported revenue of 500M SGD in FY2025 versus 405M SGD in FY2021, a compound +5.4%/yr. Reported net income was 33.2M SGD in FY2025, compounding +3.2%/yr from FY2021.

Revenue +5.4%/yr
FY21 405M SGD
FY22 483M SGD
FY23 538M SGD
FY24 503M SGD
FY25 500M SGD
Net income +3.2%/yr
FY21 29.3M SGD
FY22 43.9M SGD
FY23 46.3M SGD
FY24 33.9M SGD
FY25 33.2M SGD

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Cite: Fair Value Calculator (2026). "Delfi Limited Fair Value". https://www.fairvalue-calculator.com/stock/P34

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 71 / 22
FUTURE 0 / 0
PAST 49 / 25
HEALTH 100 / 91
DIVIDEND 59 / 56

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 Confectioners stocks, each showing price versus our Fair Value estimate (as of Jul 4, 2026).

Stock Price Fair Value vs Fair Value
Chocoladefabriken Lindt & Sprüngli AG LISN CHF 95,500 CHF 61,551 -36%
Mondelez International, Inc MDLZ $64.18 $37.11 -42%
The Hershey Company HSHY34 R$176.22 R$23.83 -86%
Barry Callebaut AG BYCBF $1,388 $978.94 -29%
ORION Corp 271560 127,100 KRW 203,315 KRW +60%
Tootsie Roll Industries, Inc TROLB $39.50 $51.08 +29%
Guangxi Yuegui Guangye Holdings 000833 ¥23.19 ¥8.10 -65%
Kotobuki Spirits Co KBKIF $10.50 $9.73 -7%
Cloetta AB CLOEF $5.38 $3.88 -28%
LOTTE Corporation 00499K 24,900 KRW 56,914 KRW +129%

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Frequently asked questions

Is Delfi Limited (P34) overvalued or undervalued?
As of Jul 4, 2026, our model estimates a fair value of 1.14 SGD versus a price of 0.8900 SGD, about +28% (undervalued).
What is the fair value of P34?
Our model-based fair value for Delfi Limited is 1.14 SGD (as of Jul 4, 2026), built from audited fundamentals. The current price is 0.8900 SGD.
What is the quality score of P34?
Delfi Limited has a Quality Score of 65/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Delfi Limited (P34)?
Delfi Limited reported trailing-twelve-month revenue of about 500M SGD (latest available figure, as of Jul 4, 2026).
What is the net profit margin of P34?
The net profit margin of Delfi Limited is about 6.7%, meaning it keeps roughly 6.7% of revenue as net income. Based on the latest reported figures.
Does Delfi Limited pay a dividend?
Delfi Limited currently shows a dividend yield of about 2.97% relative to its recent price (as of Jul 4, 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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