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AMCORP GLOBAL LIMITED (S9B) Fair Value & Analysis

Real Estate · SG · Market cap 46.6M SGD

AG AMCORP GLOBAL LIMITED S9B · SG
Price0.1000 SGD
Fair Value0.2500 SGD
Upside+150.0%
Quality66/100
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Weak Growth
Loss-making · -15.9% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 10/100
Evidence: Medium Range 0.2250 SGD – 0.2500 SGD Share as image

Fair value as of: Aug 13, 2026

From 8 valuation models · updated 5 days ago

Fair value updated Aug 13, 2026, revised from 0.2980 SGD to 0.2500 SGD (−16.1%) since Aug 9, 2026. Share price +1.0% over the past month.

A solid business, screening 150% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.2250 SGD). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
  • The models converge in a tight band (0.2250 SGD to 0.2500 SGD), unusually little disagreement for a valuation.
  • 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)

0.1470 SGD 0.0480 SGD Fair Value 0.2500 SGD Apr 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 0.0480 SGD – 0.1470 SGD · fair‑value band 0.2250 SGD – 0.2500 SGD · the 0.1000 SGD price screens below the 0.2500 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

AMCORP GLOBAL LIMITED (S9B) currently trades at 0.1000 SGD, while our model-based Fair Value estimate is 0.2500 SGD, implying the stock looks roughly 150.0% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Real Estate 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: medium), always confirm before acting.

Over the trailing twelve months, AMCORP GLOBAL LIMITED generated revenue of 6.4M SGD at a net margin of -15.9%. Revenue grew 18.5% year over year. It earns a return on equity of -1.7%. Net debt stands at 47.4M SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.2250 SGD (bear case) to 0.2500 SGD (bull case); at 0.1000 SGD, the current price sits below 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 22% below its 52-week high and 41% 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 150%, S9B 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 0.4000 SGD 0.4800 SGD 0.6000 SGD 80
Gordon GGM 0.0300 SGD 0.0300 SGD 0.0300 SGD 70
DDM Multi-Stage 0.0300 SGD 0.0300 SGD 0.0400 SGD 61
All 8 models by family
DCF Models
FCF DCF 0.3900 SGD 0.4800 SGD 0.6200 SGD 38
5Y Revenue Exit 0.2400 SGD 0.2800 SGD 0.3300 SGD 39
10Y Revenue Exit 0.3100 SGD 0.3400 SGD 0.3600 SGD 36
Dividend Discount
Gordon GGM 0.0300 SGD 0.0300 SGD 0.0300 SGD 70
DDM Multi-Stage 0.0300 SGD 0.0300 SGD 0.0400 SGD 61
Multiples
EV/Revenue 0.1100 SGD 0.1400 SGD 0.1700 SGD 43
Asset-Based
NCAV (Graham) 0.0800 SGD 0.1000 SGD 0.1500 SGD 50
Growth DCF
Growth DCF 0.4000 SGD 0.4800 SGD 0.6000 SGD 80

Widest divergence: Growth DCF (0.4800 SGD) versus Dividend Discount (0.0300 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 6.4M SGD
Revenue growth (YoY) +18.5%
Net margin -15.9%
Return on equity -1.7%
Free cash flow 21.3M SGD FY2026
Operating margin 1.9%
More key figures
Net debt 47.4M SGD FY2024

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

Quality Score breakdown

Overall quality 66/100

Of which business quality 73 · Market factors (momentum, volatility) 41

Profitability 6
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 37
Distance to the 52-week high (market factor)
Net Issuance 82
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

Amcorp Global Limited, an investment holding company, operates as a real estate developer in Singapore, Malaysia, and Vietnam. It undertakes residential, commercial, and industrial property development projects, as well as invests in real estate properties.

Full company description

Amcorp Global Limited, an investment holding company, operates as a real estate developer in Singapore, Malaysia, and Vietnam. It undertakes residential, commercial, and industrial property development projects, as well as invests in real estate properties. The company was formerly known as TEE Land Limited and changed its name to Amcorp Global Limited in April 2020. The company was incorporated in 2012 and is based in Singapore. Amcorp Global Limited is a subsidiary of Amcorp Supreme Pte. Ltd.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

AMCORP GLOBAL LIMITED reported revenue of 6.4M SGD in FY2026 versus 42.2M SGD in FY2022, a compound −37.5%/yr. Reported net income was −1.0M SGD in FY2026.

Growth Quality 21/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
6.4M SGD
Latest YoY
+14.0%
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.
−57.6%
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.
−20.4%
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.
−14.2%
Revenue −37.5%/yr
FY22 42.2M SGD
FY23 84.5M SGD
FY24 81.8M SGD
FY25 5.6M SGD
FY26 6.4M SGD
Net income
FY22 −9.4M SGD
FY23 654K SGD
FY24 −15.2M SGD
FY25 2.2M SGD
FY26 −1.0M SGD

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Cite: Fair Value Calculator (2026). "AMCORP GLOBAL LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/S9B

Peer Group

Real Estate - Development · 592 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 70 · Top 25%
Fair Value upside +150% · Top 25%
Return on assets -0% · Below median
Net margin (TTM) -16% · Bottom 25%
Operating margin (TTM) 2% · Below median
Revenue growth 19% · Above median
Dividend yield (TTM) 3.8% · Above median
Debt / equity 0.30× · Lower than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/B 0.54× · Pricier than median
P/S (TTM) 5.66× · Pricier than 75% of peers
P/FCF 1.7× · Pricier 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 100 · sector 47
FUTURE 93 · sector 0
PAST 0 · sector 9
HEALTH 85 · sector 85
DIVIDEND 77 · sector 58

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

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹661.75 ₹146.13 -78%
Lodha Developers Limited LODHA ₹1,209 ₹583.43 -52%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,050 IDR 1,330 IDR -78%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 595.00 IDR 1,488 IDR +150%
PT Sentul City Tbk, BKSL 73.00 IDR 84.16 IDR +15%
PT Ciputra Development Tbk, CTRA 610.00 IDR 1,525 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,300 IDR 6,239 IDR +45%
PT Puradelta Lestari Tbk DMAS 147.00 IDR 164.33 IDR +12%
Phat Dat Real Estate Development Corporation PDR 12,100 VND 4,943 VND -59%

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Frequently asked questions

Is AMCORP GLOBAL LIMITED (S9B) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.2500 SGD versus a price of 0.1000 SGD, about +150% (undervalued).
What is the fair value of S9B?
Our model-based fair value for AMCORP GLOBAL LIMITED is 0.2500 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.1000 SGD.
What is the quality score of S9B?
AMCORP GLOBAL LIMITED has a Quality Score of 66/100. 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 AMCORP GLOBAL LIMITED (S9B)?
AMCORP GLOBAL LIMITED reported trailing-twelve-month revenue of about 6.4M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of S9B?
The net profit margin of AMCORP GLOBAL LIMITED is about -15.9%, 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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