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ACCRELIST LTD (QZG) Fair Value & Analysis

Healthcare · SG · Market cap 20.9M SGD

AL ACCRELIST LTD QZG · SG
Price0.0690 SGD
Fair Value0.0360 SGD
Upside-47.8%
Quality51/100
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Weak Growth
Loss-making · -1.7% net margin
Low debt · generates free cash flow
Trails peers (3/11)
Narrow moat 9/100
Evidence: Medium Range 0.0299 SGD – 0.0360 SGD Share as image

Fair value as of: Aug 13, 2026

From 8 valuation models · updated 4 days ago

Share price +11.3% over the past month.

A solid business, but screening 48% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (0.0360 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

0.0830 SGD 0.0290 SGD Fair Value 0.0360 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 0.0290 SGD – 0.0830 SGD · fair‑value band 0.0299 SGD – 0.0360 SGD · the 0.0690 SGD price screens above the 0.0360 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

ACCRELIST LTD (QZG) currently trades at 0.0690 SGD, while our model-based Fair Value estimate is 0.0360 SGD, implying the stock looks roughly 47.8% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Healthcare 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: medium).

Over the trailing twelve months, ACCRELIST LTD generated revenue of 15.6M SGD at a net margin of -1.7%. Revenue grew 27.8% year over year. It earns a return on equity of -10.4%. Net debt stands at 3.6M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.0299 SGD (bear case) to 0.0360 SGD (bull case); at 0.0690 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 1% below its 52-week high and 130% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -14% fair-value upside, at -48%, QZG 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
Growth DCF 0.0100 SGD 0.0100 SGD 0.0200 SGD 80
Rev-Margin DCF 0.0100 SGD 0.0200 SGD 0.0200 SGD 74
NCAV (Graham) 0.0100 SGD 0.0200 SGD 0.0300 SGD 50
All 8 models by family
DCF Models
FCF DCF 0.0100 SGD 0.0100 SGD 0.0200 SGD 38
Owner Earnings 0.0500 SGD 0.0600 SGD 0.0800 SGD 31
5Y Revenue Exit 0.0100 SGD 0.0200 SGD 0.0200 SGD 39
10Y Revenue Exit 0.0100 SGD 0.0100 SGD 0.0200 SGD 36
Multiples
EV/Revenue 0.0100 SGD 0.0200 SGD 0.0200 SGD 43
Asset-Based
NCAV (Graham) 0.0100 SGD 0.0200 SGD 0.0300 SGD 50
Growth DCF
Growth DCF 0.0100 SGD 0.0100 SGD 0.0200 SGD 80
Rev-Margin DCF 0.0100 SGD 0.0200 SGD 0.0200 SGD 74

Widest divergence: Multiples (0.0200 SGD) versus DCF Models (0.0100 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 15.6M SGD
Revenue growth (YoY) +27.8%
Net margin -1.7%
Return on equity -10.4%
Free cash flow 307K SGD FY2026
Operating margin -21.5%
More key figures
EPS growth (YoY) +637%
Net debt 3.6M SGD FY2022

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 50 · Market factors (momentum, volatility) 82

Profitability 27
Margins and returns on capital today
Quality Growth 71
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 93
Price trend over the last 3–12 months (market factor)
52W Momentum 99
Distance to the 52-week high (market factor)
Net Issuance 70
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

Accrelist Ltd., an investment holding company, engages in the medical aesthetics business in Singapore, Malaysia, and Indonesia. It operates through three segments: Mechanical Business Unit (MBU), Aesthetic Medical Services (AMS), and Others segment.

Full company description

Accrelist Ltd., an investment holding company, engages in the medical aesthetics business in Singapore, Malaysia, and Indonesia. It operates through three segments: Mechanical Business Unit (MBU), Aesthetic Medical Services (AMS), and Others segment. The MBU segment offers mould design and fabrication services for consumer electronics, household appliances, automotive, and computer peripherals, as well as precision plastic injection moulding services for customers' finished products. Its AMS segment offers aesthetic services and solutions, including cosmetic dermatology and skin laser services. The company is also involved in the operation of aesthetic medical clinics; retail sale of pharmaceutical and medical goods; and development and distribution of original design manufacturer (ODM) clinical skincare products and other non-ODM products. The company was formerly known as WE Holdings Ltd. and changed its name to Accrelist Ltd. in November 2016. Accrelist Ltd. was founded in 1986 and is headquartered in Singapore.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

ACCRELIST LTD reported revenue of 15.6M SGD in FY2026 versus 241M SGD in FY2022, a compound −49.5%/yr. Reported net income was −264K SGD in FY2026.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
15.6M SGD
Latest YoY
+11.5%
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.
−24.6%
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.
−36.5%
Avg. growth/yr (7Y) 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.
−28.7%
Revenue −49.5%/yr
FY22 241M SGD
FY23 36.5M SGD
FY24 13.4M SGD
FY25 14.0M SGD
FY26 15.6M SGD
Net income
FY22 −12.7M SGD
FY23 −5.4M SGD
FY24 −2.3M SGD
FY25 −4.7M SGD
FY26 −264K SGD

QZG screens 48% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "ACCRELIST LTD Fair Value". https://www.fairvalue-calculator.com/stock/QZG

Peer Group

Medical Care Facilities · 267 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 51 · Below median
Fair Value upside −42% · Bottom 25%
Return on assets -8% · Bottom 25%
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) -21% · Bottom 25%
Revenue growth 28% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/B 1.80× · Pricier than median
P/S (TTM) 1.04× · Cheaper than median
P/FCF 53.2× · Pricier than 75% of peers

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 0 · sector 27
FUTURE 100 · sector 23
PAST 0 · sector 29
HEALTH 100 · sector 90
DIVIDEND 0 · sector 41

VALUE 0: the price sits above our fair-value range.

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.

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Frequently asked questions

Is ACCRELIST LTD (QZG) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.0360 SGD versus a price of 0.0690 SGD, about −48% (overvalued).
What is the fair value of QZG?
Our model-based fair value for ACCRELIST LTD is 0.0360 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.0690 SGD.
What is the quality score of QZG?
ACCRELIST LTD has a Quality Score of 51/100. 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 ACCRELIST LTD (QZG)?
ACCRELIST LTD reported trailing-twelve-month revenue of about 15.6M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of QZG?
The net profit margin of ACCRELIST LTD is about -1.7%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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