UOB-KAY HIAN HOLDINGS LIMITED (U10) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of UOB-KAY HIAN HOLDINGS LIMITED S$3.16, price S$3.88, upside -18.6%, quality 44 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 30, 2026.
How to read this chart
60‑month range 0.9839 SGD – 4.65 SGD · fair‑value band 2.37 SGD – 3.95 SGD · the 3.88 SGD price screens above the 3.16 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 30, 2026.
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UOB-Kay Hian Holdings Limited, an investment holding company, provides stockbroking, futures broking, structured lending, investment trading, margin financing, and nominee and research services.
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UOB-Kay Hian Holdings Limited, an investment holding company, provides stockbroking, futures broking, structured lending, investment trading, margin financing, and nominee and research services. It offers corporate finance services, including underwriting and placement for primary and secondary equities, mergers and acquisitions, and compliance and financial advisory services; and acts as lenders and arrangers. The company also provides investor education and margin trading services; deals and trades securities; retail and institutional Investors; structured finance, such as privatization financing and credit restructuring services, as well as credit solutions and funding support services; money lending services; and wealth management products and services, including asset allocation strategies, discretionary portfolio management, asset manager platforms, and external investment products. In addition, it offers various products and services, such as equities, bonds, contracts for difference, daily leverage certificates, exchange traded funds, futures and options, leveraged foreign exchange, advisory, and unit trust. The company serves financial institutions, fund management companies, corporations, and high net worth and mass market retail clients. It operates in Singapore, Hong Kong, Thailand, Malaysia, London, New Jersy, Toronto and internationally. The company was formerly known as Kay Hian Holdings Ltd. and changed its name to UOB-Kay Hian Holdings Limited in October 2000. UOB-Kay Hian Holdings Limited was incorporated in 1970 and is headquartered in Singapore.
Stock analysis
UOB-KAY HIAN HOLDINGS LIMITED (U10) currently trades at 3.88 SGD, while our model-based Fair Value estimate is 3.16 SGD, 18.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 5.93 SGD per share, and 2 of the 9 models we run sit above the 3.88 SGD price.
Bear case: the Dividend Discount group reads lowest at 0.7300 SGD, and 7 of the 9 models stay below the price. Evidence for this calculation is high.
Scenario range: 2.37 SGD (bear) to 3.95 SGD (bull), the price of 3.88 SGD sits inside 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 44/100 (below-average quality), in the Financial Services sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
UOB-KAY HIAN HOLDINGS LIMITED reported revenue of 624M SGD in FY2025 versus 620M SGD in FY2021, a compound +0.1%/yr. Reported net income was 239M SGD in FY2025, compounding +12.0%/yr from FY2021.
Key figures
Market cap 3.8B SGD (≈ $3.0B) · P/E ratio 12.5 · P/S ratio 4.80 · EPS (TTM) 0.3100 SGD · Dividend yield 3.2% · Net margin 38.4% · Return on equity 13.7% · Return on assets (EBIT) 3.0%.
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 17% below its 52-week high and 72% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at −19%, U10 screens richer than that median.
Fair Value models
Bear 2.37 SGDFair Value 3.16 SGDBull 3.95 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 (0.1409 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.38/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+17.1%
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.
+11.6%
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.
+1.2%
Start year 2020 (pandemic). Over 10 years: +5.1% a year
Revenue growth 12 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.
+4.1%
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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.
+10.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.9%
Dividend (yield on the price)3.2%
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.6.9% vs 13.0%, 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.31% → 27%
Compare UOB-KAY HIAN HOLDINGS LIMITED with another stock
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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.Capital Markets · 459 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside−18.6% · Below median
Profitability
Return on equity (TTM)13.7% · Above median
Return on assets4.5% · Above median
Net margin (TTM)36.1% · Above median
Operating margin (TTM)40.5% · Above median
Growth and dividend
Revenue growth38.2% · Above median
Dividend yield (TTM)3.2% · Above median
Valuation Multiplesvs Capital Markets median · lower = cheaper
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Is UOB-KAY HIAN HOLDINGS LIMITED (U10) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of 3.16 SGD versus a price of 3.88 SGD, about −19% upside (overvalued).
What is the fair value of U10?
Our model-based fair value for UOB-KAY HIAN HOLDINGS LIMITED is 3.16 SGD (as of Sep 30, 2026), built from audited fundamentals. The current price: 3.88 SGD.
What is the quality score of U10?
UOB-KAY HIAN HOLDINGS LIMITED has a Quality Score of 44/100. 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 UOB-KAY HIAN HOLDINGS LIMITED (U10)?
Our model-based price target is the fair value of 3.16 SGD (as of Sep 30, 2026) from 9 valuation models. Cautious scenario 2.37 SGD, optimistic scenario 3.95 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the UOB-KAY HIAN HOLDINGS LIMITED stock forecast for 2026?
Our models put fair value at 3.16 SGD, about −19% upside versus a price of 3.88 SGD (overvalued). Cautious scenario 2.37 SGD, optimistic scenario 3.95 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of UOB-KAY HIAN HOLDINGS LIMITED (U10)?
UOB-KAY HIAN HOLDINGS LIMITED reported trailing-twelve-month revenue of about 845M SGD (latest available figure, as of Sep 30, 2026).
Does UOB-KAY HIAN HOLDINGS LIMITED pay a dividend?
UOB-KAY HIAN HOLDINGS LIMITED currently shows a dividend yield of about 3.17% relative to its recent price (as of Sep 30, 2026).
What is the intrinsic value of UOB-KAY HIAN HOLDINGS LIMITED (U10)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For UOB-KAY HIAN HOLDINGS LIMITED it is 3.16 SGD per share (as of Sep 30, 2026), against a price of 3.88 SGD. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is UOB-KAY HIAN HOLDINGS LIMITED stock overvalued or undervalued in 2026?
As of Sep 30, 2026, U10 trades above its calculated fair value: price 3.88 SGD, fair value 3.16 SGD, a gap of about −19% (overvalued). 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 U10?
No. The price is what the market pays today (3.88 SGD); the fair value is what the company's own numbers justify (3.16 SGD). For UOB-KAY HIAN HOLDINGS LIMITED the two are 0.7200 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is UOB-KAY HIAN HOLDINGS LIMITED worth?
The market values UOB-KAY HIAN HOLDINGS LIMITED at about 3.8B SGD (market capitalisation, as of Sep 30, 2026). Per share that is 3.88 SGD; our models calculate a fair value of 3.16 SGD per share.
What do the bullish and bearish scenarios say about U10?
Our models span a range for UOB-KAY HIAN HOLDINGS LIMITED: cautious scenario 2.37 SGD, base 3.16 SGD, optimistic 3.95 SGD per share (as of Sep 30, 2026, price 3.88 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of U10?
UOB-KAY HIAN HOLDINGS LIMITED trades at a price-to-earnings ratio of 12.5 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3.16 SGD is built from several models across several years. Other multiples: P/B 1.7, P/S 4.5, EV/EBITDA 7.6.
How solid is the balance sheet of UOB-KAY HIAN HOLDINGS LIMITED (U10)?
Balance-sheet figures for UOB-KAY HIAN HOLDINGS LIMITED (as of Sep 30, 2026): return on equity 13.7%. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is U10 from its 52-week high?
UOB-KAY HIAN HOLDINGS LIMITED trades at 3.88 SGD, about 17% below its 52-week high of 4.65 SGD and 72% above the low of 2.25 SGD (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 3.16 SGD is for.
Which stocks are comparable to UOB-KAY HIAN HOLDINGS LIMITED?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 UOB-KAY HIAN HOLDINGS LIMITED stock attractive at the current price?
The data as of Sep 30, 2026: price 3.88 SGD, calculated fair value 3.16 SGD (−19%), Quality Score 44/100, from 9 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 U10 calculated?
We run UOB-KAY HIAN HOLDINGS LIMITED through 9 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 3.16 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. UOB-KAY HIAN HOLDINGS LIMITED itself currently trades above fair value. 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 UOB-KAY HIAN HOLDINGS LIMITED (U10)?
The closing price on Oct 1, 2026 was 3.88 SGD. Our model-based fair value is 3.16 SGD, about −19% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with UOB-KAY HIAN HOLDINGS LIMITED right now?
Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of UOB-KAY HIAN HOLDINGS LIMITED
How large is the market capitalisation of UOB-KAY HIAN HOLDINGS LIMITED (U10)?
The market capitalisation of UOB-KAY HIAN HOLDINGS LIMITED is 3.8B SGD (≈ $3.0B). 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 UOB-KAY HIAN HOLDINGS LIMITED (U10)?
The price-to-sales ratio of UOB-KAY HIAN HOLDINGS LIMITED is 4.80 (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 UOB-KAY HIAN HOLDINGS LIMITED (U10)?
Earnings per share at UOB-KAY HIAN HOLDINGS LIMITED are 0.3100 SGD (price ÷ EPS = P/E 12.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of UOB-KAY HIAN HOLDINGS LIMITED (U10)?
The dividend yield of UOB-KAY HIAN HOLDINGS LIMITED is 3.2% (payout 39.7%). 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 UOB-KAY HIAN HOLDINGS LIMITED (U10)?
The net margin of UOB-KAY HIAN HOLDINGS LIMITED is 38.4% (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 UOB-KAY HIAN HOLDINGS LIMITED (U10)?
The return on equity (ROE) of UOB-KAY HIAN HOLDINGS LIMITED is 13.7% (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 UOB-KAY HIAN HOLDINGS LIMITED (U10)?
On an EBIT basis the return on assets of UOB-KAY HIAN HOLDINGS LIMITED is 3.0% (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 UOB-KAY HIAN HOLDINGS LIMITED (U10)?
The operating margin of UOB-KAY HIAN HOLDINGS LIMITED is 40.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at UOB-KAY HIAN HOLDINGS LIMITED (U10)?
Revenue at UOB-KAY HIAN HOLDINGS LIMITED is growing +38.2% versus a year earlier (3y avg +11.6%). 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 UOB-KAY HIAN HOLDINGS LIMITED (U10)?
Earnings per share at UOB-KAY HIAN HOLDINGS LIMITED are growing +59.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does UOB-KAY HIAN HOLDINGS LIMITED (U10) generate?
The free cash flow of UOB-KAY HIAN HOLDINGS LIMITED is −82.1M SGD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does UOB-KAY HIAN HOLDINGS LIMITED (U10) carry?
The net debt of UOB-KAY HIAN HOLDINGS LIMITED is 138M SGD (fiscal year 2022). 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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