EN DE

PAN-UNITED CORPORATION LTD (P52) Fair Value & Analysis

Basic Materials · SG · Market cap 946M SGD

PU PAN-UNITED CORPORATION LTD P52 · SG
Price1.61 SGD
Fair Value1.23 SGD
Upside-23.6%
Quality65/100
Watch PAN-UNITED CORPORATION LTD for free, get notified when fair value or trend changes. Watch for free
Healthy Growth
Thin margins · 5.6% net margin
Low debt · generates free cash flow
3.33% dividend yield
Ranks above peers (9/15)
Moderate moat 51/100
Evidence: High Range 0.7900 SGD – 1.54 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 4 days ago

Share price +5.2% over the past month.

A solid business, but screening 24% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1.54 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (0.7900 SGD to 1.54 SGD) leaves room in how you read the outcome.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

1.73 SGD 0.2269 SGD Fair Value 1.23 SGD Mar 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 0.2269 SGD – 1.73 SGD · fair‑value band 0.7900 SGD – 1.54 SGD · the 1.61 SGD price screens above the 1.23 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

PAN-UNITED CORPORATION LTD (P52) currently trades at 1.61 SGD, while our model-based Fair Value estimate is 1.23 SGD, implying the stock looks roughly 23.6% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Basic Materials 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, PAN-UNITED CORPORATION LTD generated revenue of 899M SGD at a net margin of 5.6%. Revenue grew 16.1% year over year. It earns a return on equity of 18.1%. Net debt stands at 19.8M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.7900 SGD (bear case) to 1.54 SGD (bull case); at 1.61 SGD, the current price sits above 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 7% below its 52-week high and 92% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -60% fair-value upside, at -24%, P52 screens cheaper 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
Growth DCF 0.5500 SGD 0.7100 SGD 0.9200 SGD 80
Residual Income 0.4100 SGD 0.5400 SGD 1.39 SGD 76
Rev-Margin DCF 0.8000 SGD 1.25 SGD 1.77 SGD 74
All 24 models by family
DCF Models
FCF DCF 0.5500 SGD 0.7400 SGD 0.9900 SGD 38
Owner Earnings 0.5900 SGD 0.8000 SGD 1.09 SGD 31
5Y Revenue Exit 0.8000 SGD 1.26 SGD 1.85 SGD 39
5Y EBITDA Exit 0.8700 SGD 1.39 SGD 2.01 SGD 41
5Y P/E Exit 0.8000 SGD 1.26 SGD 1.74 SGD 38
10Y Revenue Exit 0.6700 SGD 1.04 SGD 1.55 SGD 36
10Y EBITDA Exit 0.7300 SGD 1.13 SGD 1.66 SGD 37
10Y P/E Exit 0.6900 SGD 1.04 SGD 1.47 SGD 35
Earnings-Based
Graham-Dodd 0.4900 SGD 1.61 SGD 2.15 SGD 54
Lynch FV 0.3600 SGD 0.5200 SGD 0.6700 SGD 50
PEG = 1.0 0.3600 SGD 0.5200 SGD 0.6700 SGD 46
EPV 0.8300 SGD 0.9200 SGD 1.00 SGD 59
Multiples
P/E Multiple 0.9200 SGD 1.23 SGD 1.54 SGD 63
P/S Multiple 0.9200 SGD 1.23 SGD 1.54 SGD 58
P/B Multiple 0.9200 SGD 1.23 SGD 1.54 SGD 55
EV/EBIT 1.14 SGD 1.47 SGD 1.80 SGD 53
EV/EBITDA 1.20 SGD 1.56 SGD 1.91 SGD 54
EV/Revenue 1.01 SGD 1.38 SGD 1.75 SGD 43
Asset-Based
NCAV (Graham) 0.2100 SGD 0.2800 SGD 0.4100 SGD 50
Growth DCF
Growth DCF 0.5500 SGD 0.7100 SGD 0.9200 SGD 80
Rev-Margin DCF 0.8000 SGD 1.25 SGD 1.77 SGD 74
Economic Profit
Residual Income 0.4100 SGD 0.5400 SGD 1.39 SGD 76
ROIC Compounder 0.8700 SGD 1.02 SGD 1.17 SGD 72
Growth Earnings
Growth-Adj P/E 0.8000 SGD 1.14 SGD 1.48 SGD 68

Widest divergence: Multiples (1.23 SGD) versus Asset-Based (0.2800 SGD). Highest evidence: Growth DCF (80).

Notify me when P52 reaches fair value

Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.

Key figures & financial health

Revenue (TTM) 899M SGD
Revenue growth (YoY) +16.1%
Net margin 5.6%
Return on equity 18.1%
Free cash flow 29.9M SGD FY2025
P/E ratio 23.0
More key figures
Operating margin 7.8%
EPS (TTM) 0.0700 SGD
Dividend yield 3.3%
EPS growth (YoY) +34.9%
Net debt 19.8M SGD FY2020

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 65 · Market factors (momentum, volatility) 79

Profitability 66
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 75
Price trend over the last 3–12 months (market factor)
52W Momentum 88
Distance to the 52-week high (market factor)
Net Issuance 81
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

Pan-United Corporation Ltd, an investment holding company, engages in the concrete and logistics businesses in Singapore and internationally. The company operates in two segments, Concrete and Cement, and Trading and Others. It supplies cement, aggregates, and ready-mix concrete and slag products, as well as refined petroleum products.

Full company description

Pan-United Corporation Ltd, an investment holding company, engages in the concrete and logistics businesses in Singapore and internationally. The company operates in two segments, Concrete and Cement, and Trading and Others. It supplies cement, aggregates, and ready-mix concrete and slag products, as well as refined petroleum products. The company is also involved in the trading of raw materials and bulk shipping. In addition, it manufactures, trades in, and supplies basic building materials. Further, the company provides sustainable technology solutions and marketing services. Additionally, it acts as a cement silo operator; and engages in the general trading, as well as provision of software consultancy, information technology, and computer service activities. The company provides solutions for aesthetic, aviation, commercial, healthcare, marine and ports, residential, transport infrastructure, underground, and waste and water management. Pan-United Corporation Ltd was founded in 1958 and is headquartered in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PAN-UNITED CORPORATION LTD reported revenue of 898M SGD in FY2025 versus 587M SGD in FY2021, a compound +11.2%/yr. Reported net income was 50.7M SGD in FY2025, compounding +28.4%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
898M SGD
Latest YoY
+10.6%
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.
+8.5%
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.
+17.3%
Avg. growth/yr (12Y) ⓘ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.
+1.7%
Revenue +11.2%/yr
FY21 587M SGD
FY22 703M SGD
FY23 774M SGD
FY24 812M SGD
FY25 898M SGD
Net income +28.4%/yr
FY21 18.7M SGD
FY22 23.4M SGD
FY23 34.3M SGD
FY24 40.9M SGD
FY25 50.7M SGD

P52 screens 24% overvalued. Compare with UltraTech Cement Limited →

Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
Share or link this analysis
𝕏 Post WhatsApp LinkedIn Reddit
For bloggers & editors: embed code + live data

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.

PAN-UNITED CORPORATION LTD · Fair Value
1.23 SGD −24%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "PAN-UNITED CORPORATION LTD Fair Value". https://www.fairvalue-calculator.com/stock/P52

Peer Group

Building Materials · 259 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 65 · Top 25%
Fair Value upside −24% · Below median
Return on equity (TTM) 18% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 16% · Top 25%
Dividend yield (TTM) 3.3% · Above median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 23.0× · Pricier than median
P/B 2.55× · Pricier than 75% of peers
P/S (TTM) 0.82× · Pricier than median
P/FCF 24.8× · Pricier than 75% of peers
EV/EBITDA 7.3× · Pricier than median
PEG 0.97× · 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 2 · sector 23
FUTURE 81 · sector 2
PAST 72 · sector 15
HEALTH 100 · sector 92
DIVIDEND 67 · sector 52

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
UltraTech Cement Limited ULTRACEMCO ₹11,891 ₹4,718 -60%
China Jushi Co 600176 ¥43.31 ¥13.22 -69%
Grasim Industries Limited GRASIM ₹3,308 ₹1,245 -62%
CEMEX, S.A. CEMEXCPO 21.71 MXN 12.27 MXN -43%
Anhui Conch Cement Company 600585 ¥17.49 ¥26.14 +49%
Ambuja Cements Limited AMBUJACEM ₹421.00 ₹216.73 -49%
Shree Cement Limited SHREECEM ₹25,570 ₹8,215 -68%
TCC Group 1101B 43.15 TWD 9.76 TWD -77%
Taiwan Glass Ind. Corp 1802 57.60 TWD 13.98 TWD -76%
J.K. Cement Limited JKCEMENT ₹5,349 ₹2,184 -59%

Compare PAN-UNITED CORPORATION LTD with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Basic Materials stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is PAN-UNITED CORPORATION LTD (P52) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.23 SGD versus a price of 1.61 SGD, about −24% (overvalued).
What is the fair value of P52?
Our model-based fair value for PAN-UNITED CORPORATION LTD is 1.23 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 1.61 SGD.
What is the quality score of P52?
PAN-UNITED CORPORATION LTD has a Quality Score of 65/100. 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 PAN-UNITED CORPORATION LTD (P52)?
PAN-UNITED CORPORATION LTD reported trailing-twelve-month revenue of about 899M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of P52?
The net profit margin of PAN-UNITED CORPORATION LTD is about 5.6%, meaning it keeps roughly 5.6% of revenue as net income. Based on the latest reported figures.
Does PAN-UNITED CORPORATION LTD pay a dividend?
PAN-UNITED CORPORATION LTD currently shows a dividend yield of about 3.33% 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.

14 days Pro free · no card

Track PAN-UNITED CORPORATION LTD and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.