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VEEM Ltd (VEE) Fair Value & Analysis

Industrials · AU · Market cap A$80.7M

VL VEEM Ltd VEE · AU
PriceA$0.5200
Fair ValueA$0.4300
Upside-17.3%
Quality52/100
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Healthy Growth
Loss-making · -30.0% net margin
Low debt · generates free cash flow
Trails peers (4/12)
Narrow moat 18/100
Evidence: High Range A$0.2500 – A$0.5400 Share as image

Fair value as of: Jul 15, 2026

From 24 valuation models · updated 27 days ago

Fair value updated Jul 15, 2026, revised from A$0.4500 to A$0.4300 (−4.4%) since Jun 24, 2026. Share price −5.5% over the past month.

A solid business, but screening 17% overvalued on our models.

What matters now

  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (A$0.2500 to A$0.5400) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

A$1.98 A$0.3674 Fair Value A$0.4300 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range A$0.3674 – A$1.98 · fair‑value band A$0.2500 – A$0.5400 · the A$0.5200 price screens above the A$0.4300 fair value. Dashed = 300-day average. As of Jul 15, 2026.

Full chart & analysis →

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Analysis

VEEM Ltd (VEE) currently trades at A$0.5200, while our model-based Fair Value estimate is A$0.4300, implying the stock looks roughly 17.3% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Industrials 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, VEEM Ltd generated revenue of A$58.5M at a net margin of -30.0%. Revenue declined 30.2% year over year. It earns a return on equity of -35.0%. Net debt stands at A$21.5M. Fundamentals as of Jul 15, 2026

Our scenario range runs from A$0.2500 (bear case) to A$0.5400 (bull case); at A$0.5200, the current price sits within 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 73% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at -17%, VEE 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 A$0.1600 A$0.2300 A$0.3000 80
Residual Income A$0.2600 A$0.2500 A$0.2200 76
Rev-Margin DCF A$0.3700 A$0.6500 A$0.9700 74
All 24 models by family
DCF Models
FCF DCF A$0.1600 A$0.2400 A$0.3300 38
Owner Earnings A$0.3700 A$0.5300 A$0.7200 31
5Y Revenue Exit A$0.3700 A$0.6500 A$1.02 39
5Y EBITDA Exit A$0.5700 A$1.02 A$1.56 41
5Y P/E Exit A$0.2200 A$0.3700 A$0.5200 38
10Y Revenue Exit A$0.2600 A$0.4700 A$0.7600 36
10Y EBITDA Exit A$0.3800 A$0.6900 A$1.11 37
10Y P/E Exit A$0.1900 A$0.3000 A$0.4400 35
Earnings-Based
Graham-Dodd A$0.1400 A$0.4400 A$0.5900 54
Lynch FV A$0.1000 A$0.1400 A$0.1800 50
PEG = 1.0 A$0.1000 A$0.1400 A$0.1800 46
EPV A$0.4300 A$0.4900 A$0.5400 59
Multiples
P/E Multiple A$0.3200 A$0.4300 A$0.5400 63
P/S Multiple A$0.2600 A$0.3500 A$0.4400 58
P/B Multiple A$0.2600 A$0.3500 A$0.4400 55
EV/EBIT A$0.8900 A$1.20 A$1.50 53
EV/EBITDA A$1.00 A$1.34 A$1.68 54
EV/Revenue A$0.5600 A$0.8100 A$1.07 43
Asset-Based
NCAV (Graham) A$0.1800 A$0.2500 A$0.3700 50
Growth DCF
Growth DCF A$0.1600 A$0.2300 A$0.3000 80
Rev-Margin DCF A$0.3700 A$0.6500 A$0.9700 74
Economic Profit
Residual Income A$0.2600 A$0.2500 A$0.2200 76
ROIC Compounder A$0.4500 A$0.5300 A$0.6200 72
Growth Earnings
Growth-Adj P/E A$0.2700 A$0.3900 A$0.5000 68

Widest divergence: DCF Models (A$0.4700) versus Earnings-Based (A$0.1400). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) A$58.5M
Revenue growth (YoY) -30.2%
Net margin -30.0%
Return on equity -35.0%
Free cash flow A$3.3M FY2025
Operating margin -10.5%
More key figures
EPS (TTM) A$-0.1200
EPS growth (YoY) -42.6%
Net debt A$21.5M FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 55 · Market factors (momentum, volatility) 20

Profitability 43
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 23
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 3
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

VEEM Ltd engages in designing, manufacturing, and selling of marine propulsion and stabilization systems in Australia. It offers gyrostabilizers; CNC machined monobloc propellers; and forever pipe, a piping solution for the processing industry. The company also provides conquest propellers, shaft lines, and marine ride control fins.

Full company description

VEEM Ltd engages in designing, manufacturing, and selling of marine propulsion and stabilization systems in Australia. It offers gyrostabilizers; CNC machined monobloc propellers; and forever pipe, a piping solution for the processing industry. The company also provides conquest propellers, shaft lines, and marine ride control fins. In addition, it offers bespoke engineered products and services for marine, defense, and mining industries; and hollow bar products. The company was founded in 1968 and is headquartered in Canning Vale, Australia. VEEM Ltd is a subsidiary of Veem Corporation Pty Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

VEEM Ltd reported revenue of A$68.6M in FY2025 versus A$59.5M in FY2021, a compound +3.6%/yr. Reported net income was A$3.0M in FY2025, compounding −11.5%/yr from FY2021.

Growth Quality 82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
A$68.6M
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.
+10.6%
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.
+12.4%
Avg. growth/yr (11Y) 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.
+7.1%
Revenue +3.6%/yr
FY21 A$59.5M
FY22 A$54.2M
FY23 A$59.5M
FY24 A$80.5M
FY25 A$68.6M
Net income −11.5%/yr
FY21 A$4.9M
FY22 A$1.3M
FY23 A$4.1M
FY24 A$7.0M
FY25 A$3.0M
Character of growth · EPS growth decomposed (2014-2025) −12.1 % p.a.
Revenue per share −6.2 pp

of which total revenue +6.4 pp · buybacks/dilution −12.6 pp

EBIT margin −2.9 pp
Tax rate +0.0 pp
Residual (interest, one-offs) −2.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

VEE screens 17% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "VEEM Ltd Fair Value". https://www.fairvalue-calculator.com/stock/VEE

Peer Group

Aerospace & Defense · 226 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 52 · Below median
Fair Value upside −17% · Top 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) -30% · Bottom 25%
Operating margin (TTM) -11% · Bottom 25%
Revenue growth -30% · Bottom 25%
Debt / equity 0.09× · Lower than median

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/B 1.05× · Cheaper than 75% of peers
P/S (TTM) 0.98× · Cheaper than 75% of peers
P/FCF 17.1× · Pricier than median
EV/EBITDA 22.2× · 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 10 · sector 0
FUTURE 0 · sector 46
PAST 0 · sector 38
HEALTH 95 · sector 94
DIVIDEND 0 · sector 15

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

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 VEEM Ltd (VEE) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of A$0.4300 versus a price of A$0.5200, about −17% (overvalued).
What is the fair value of VEE?
Our model-based fair value for VEEM Ltd is A$0.4300 (as of Jul 15, 2026), built from audited fundamentals. The current price is A$0.5200.
What is the quality score of VEE?
VEEM Ltd has a Quality Score of 52/100. 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 VEEM Ltd (VEE)?
VEEM Ltd reported trailing-twelve-month revenue of about A$58.5M (latest available figure, as of Jul 15, 2026).
What is the net profit margin of VEE?
The net profit margin of VEEM Ltd is about -30.0%, 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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