TUAN SING HOLDINGS LIMITED (T24) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of TUAN SING HOLDINGS LIMITED S$0.43, price S$0.28, upside +53.6%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range 0.2000 SGD – 0.5207 SGD · fair‑value band 0.3200 SGD – 0.5400 SGD · the 0.2800 SGD price screens below the 0.4300 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 27, 2026.
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Tuan Sing Holdings Limited, an investment holding company, engages in the real estate investment and development, hospitality, and other businesses in Singapore, Australia, China, Malaysia, and Indonesia.
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Tuan Sing Holdings Limited, an investment holding company, engages in the real estate investment and development, hospitality, and other businesses in Singapore, Australia, China, Malaysia, and Indonesia. The company develops and invests in residential, commercial, and industrial properties, as well as provides construction management and management consultancy services. It also owns and operates hotels managed by Hyatt International under the Grand Hyatt Melbourne and Residence on Langley Park names in Melbourne, Australia; and operates serviced apartments. In addition, the company provides maritime port services; manufactures and markets polypropylene woven bags; and manufactures and sells printed circuit boards, as well as distributes golf-related lifestyle products; and engages in the treasury and trustee activities. The company was formerly known as Hytex Limited and changed its name to Tuan Sing Holdings Limited in 1983. Tuan Sing Holdings Limited was incorporated in 1969 and is based in Singapore. Tuan Sing Holdings Limited operates as a subsidiary of Nuri Holdings (S) Pte Ltd.
Stock analysis
TUAN SING HOLDINGS LIMITED (T24) currently trades at 0.2800 SGD, while our model-based Fair Value estimate is 0.4300 SGD, implying the stock looks roughly 34.9% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 0.6500 SGD per share, and 4 of the 6 models we run sit above the 0.2800 SGD price.
Bear case: the Multiples group reads lowest at 0.4300 SGD, and 2 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.3200 SGD (bear) to 0.5400 SGD (bull), the price of 0.2800 SGD sits below 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 54/100 (solid quality), in the Real Estate sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
TUAN SING HOLDINGS LIMITED reported revenue of 146M SGD in FY2025 versus 245M SGD in FY2021, a compound −12.2%/yr. Reported net income was 32.1M SGD in FY2025, compounding −21.3%/yr from FY2021.
Key figures
Market cap 350M SGD (≈ $273M) · P/E ratio 14.0 · P/S ratio 3.08 · EPS (TTM) 0.0200 SGD · Dividend yield 2.5% · Net margin 22.0% · Return on equity 1.8% · Return on assets (EBIT) 1.4%.
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 23% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −48% fair-value upside, at 54%, T24 screens cheaper than that median.
Fair Value models
Bear 0.3200 SGDFair Value 0.4300 SGDBull 0.5400 SGD
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0098 SGD per share) are deliberately not added.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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
−7.8%
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.
−9.1%
Revenue growth 11 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.
−4.0%
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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. Basis: EBIT basis.
≈ −21.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−24.0%
Dividend (yield on the price)2.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−12.5% vs −0.9%, slowing
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.16% → 12%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 9.0%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Rate on operating basis: 2025 sits 583% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+21.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about +19.2% a year for the price.
Compare TUAN SING HOLDINGS LIMITED with another stock
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 - Diversified · 133 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside+53.6% · Above median
Profitability
Return on equity (TTM)1.8% · Below median
Return on assets0.3% · Below median
Net margin (TTM)14.9% · Below median
Operating margin (TTM)7.5% · Below median
Growth and dividend
Revenue growth−4.2% · Below median
Dividend yield (TTM)2.5% · Below median
Balance sheet
Debt / equity1.14× · Highest 25%
Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper
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Cite: Fair Value Calculator (2026). "TUAN SING HOLDINGS LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/T24
Frequently asked questions
Is TUAN SING HOLDINGS LIMITED (T24) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 0.4300 SGD versus a price of 0.2800 SGD, about +54% upside (undervalued).
What is the fair value of T24?
Our model-based fair value for TUAN SING HOLDINGS LIMITED is 0.4300 SGD (as of Sep 27, 2026), built from audited fundamentals. The current price: 0.2800 SGD.
What is the quality score of T24?
TUAN SING HOLDINGS LIMITED has a Quality Score of 54/100. 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 TUAN SING HOLDINGS LIMITED (T24)?
Our model-based price target is the fair value of 0.4300 SGD (as of Sep 27, 2026) from 6 valuation models. Cautious scenario 0.3200 SGD, optimistic scenario 0.5400 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the TUAN SING HOLDINGS LIMITED stock forecast for 2026?
Our models put fair value at 0.4300 SGD, about +54% upside versus a price of 0.2800 SGD (undervalued). Cautious scenario 0.3200 SGD, optimistic scenario 0.5400 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of TUAN SING HOLDINGS LIMITED (T24)?
TUAN SING HOLDINGS LIMITED reported trailing-twelve-month revenue of about 143M SGD (latest available figure, as of Sep 27, 2026).
Does TUAN SING HOLDINGS LIMITED pay a dividend?
TUAN SING HOLDINGS LIMITED currently shows a dividend yield of about 2.50% relative to its recent price (as of Sep 27, 2026).
What growth is priced into TUAN SING HOLDINGS LIMITED (T24)?
For today's price to be fair in a discounted-cash-flow model, TUAN SING HOLDINGS LIMITED would have to grow free cash flow by +21.6 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -5.8 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of T24 use?
Our models discount TUAN SING HOLDINGS LIMITED at 11.6 %: a base by market capitalisation (micro), damped by beta 0.71, 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 TUAN SING HOLDINGS LIMITED that is +21.6 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has TUAN SING HOLDINGS LIMITED (T24) delivered so far?
Over the past 5 years revenue at TUAN SING HOLDINGS LIMITED grew -5.8 % a year. The price currently implies +21.6 % 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 TUAN SING HOLDINGS LIMITED (T24) growing?
The median revenue growth in the sector is +2.2 % a year. That is the yardstick for the growth priced into TUAN SING HOLDINGS LIMITED (+21.6 % 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 TUAN SING HOLDINGS LIMITED (T24)?
The free-cash-flow yield on the price is 14.35 %: that much free cash flow TUAN SING HOLDINGS LIMITED produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TUAN SING HOLDINGS LIMITED (T24)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TUAN SING HOLDINGS LIMITED it is 0.4300 SGD per share (as of Sep 27, 2026), against a price of 0.2800 SGD. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is TUAN SING HOLDINGS LIMITED stock overvalued or undervalued in 2026?
As of Sep 27, 2026, T24 trades below its calculated fair value: price 0.2800 SGD, fair value 0.4300 SGD, a gap of about +54% (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 T24?
No. The price is what the market pays today (0.2800 SGD); the fair value is what the company's own numbers justify (0.4300 SGD). For TUAN SING HOLDINGS LIMITED the two are 0.1500 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is TUAN SING HOLDINGS LIMITED worth?
The market values TUAN SING HOLDINGS LIMITED at about 350M SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.2800 SGD; our models calculate a fair value of 0.4300 SGD per share.
What do the bullish and bearish scenarios say about T24?
Our models span a range for TUAN SING HOLDINGS LIMITED: cautious scenario 0.3200 SGD, base 0.4300 SGD, optimistic 0.5400 SGD per share (as of Sep 27, 2026, price 0.2800 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of T24?
TUAN SING HOLDINGS LIMITED trades at a price-to-earnings ratio of 14.0 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.4300 SGD is built from several models across several years. Other multiples: PEG 2.8, P/B 0.2, P/S 1.9, EV/EBITDA 67.2.
What is the PEG ratio of T24?
The PEG ratio of TUAN SING HOLDINGS LIMITED is 2.78 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of TUAN SING HOLDINGS LIMITED (T24)?
Balance-sheet figures for TUAN SING HOLDINGS LIMITED (as of Sep 27, 2026): return on equity 1.8%, debt of 1.14 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is T24 from its 52-week high?
TUAN SING HOLDINGS LIMITED trades at 0.2800 SGD, about 23% below its 52-week high of 0.3625 SGD and 8% above the low of 0.2600 SGD (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 0.4300 SGD is for.
Which stocks are comparable to TUAN SING HOLDINGS LIMITED?
From the same area (Real Estate) we also value Swiss Prime Site AG, Central Pattana Public Company, The Phoenix Mills Limited, Prestige Estates Projects 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 TUAN SING HOLDINGS LIMITED stock attractive at the current price?
The data as of Sep 27, 2026: price 0.2800 SGD, calculated fair value 0.4300 SGD (+54%), Quality Score 54/100, from 6 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 T24 calculated?
We run TUAN SING HOLDINGS LIMITED through 6 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 0.4300 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 14.5 % above its aggregate fair value. TUAN SING HOLDINGS LIMITED currently trades 35 % 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 TUAN SING HOLDINGS LIMITED (T24)?
The closing price on Oct 1, 2026 was 0.2800 SGD. Our model-based fair value is 0.4300 SGD, about +54% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TUAN SING HOLDINGS LIMITED right now?
The price is below even our cautious bear case (0.3200 SGD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of TUAN SING HOLDINGS LIMITED
How large is the market capitalisation of TUAN SING HOLDINGS LIMITED (T24)?
The market capitalisation of TUAN SING HOLDINGS LIMITED is 350M SGD (≈ $273M). 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 TUAN SING HOLDINGS LIMITED (T24)?
The price-to-sales ratio of TUAN SING HOLDINGS LIMITED is 3.08 (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 TUAN SING HOLDINGS LIMITED (T24)?
Earnings per share at TUAN SING HOLDINGS LIMITED are 0.0200 SGD (price ÷ EPS = P/E 14.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TUAN SING HOLDINGS LIMITED (T24)?
The dividend yield of TUAN SING HOLDINGS LIMITED is 2.5% (payout 35.0%). 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 TUAN SING HOLDINGS LIMITED (T24)?
The net margin of TUAN SING HOLDINGS LIMITED is 22.0% (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 TUAN SING HOLDINGS LIMITED (T24)?
The return on equity (ROE) of TUAN SING HOLDINGS LIMITED is 1.8% (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 TUAN SING HOLDINGS LIMITED (T24)?
On an EBIT basis the return on assets of TUAN SING HOLDINGS LIMITED is 1.4% (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 TUAN SING HOLDINGS LIMITED (T24)?
The operating margin of TUAN SING HOLDINGS LIMITED is 7.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TUAN SING HOLDINGS LIMITED (T24)?
Revenue at TUAN SING HOLDINGS LIMITED is growing −4.2% versus a year earlier (3y avg −13.5%). 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 TUAN SING HOLDINGS LIMITED (T24)?
Earnings per share at TUAN SING HOLDINGS LIMITED are growing −75.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does TUAN SING HOLDINGS LIMITED (T24) carry?
The net debt of TUAN SING HOLDINGS LIMITED is 1.2B SGD (fiscal year 2025, ≈ 24.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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