Union Steel Holdings (ZB9) Fair Value & Analysis
Industrials · SG · Market cap 57.9M SGD
Fair value as of: Jul 4, 2026
From 24 valuation models · updated yesterday
Share price −2.0% over the past month.
Price vs Fair Value (12 months)
12‑month range 0.4800 SGD – 0.6608 SGD · fair‑value band 0.6700 SGD – 1.72 SGD · the 0.4900 SGD price screens below the 1.37 SGD fair value. As of Jul 4, 2026.
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Union Steel Holdings (ZB9) currently trades at 0.4900 SGD, while our model-based Fair Value estimate is 1.37 SGD — implying the stock looks roughly 179.6% undervalued today. We read business quality at 39/100 (below-average quality), in the Industrials 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: high) — always confirm before acting.
Over the trailing twelve months, Union Steel Holdings generated revenue of 104M SGD at a net margin of 7.8%. Revenue declined 4.1% year over year. It earns a return on equity of 8.4%. Net debt stands at 24.6M SGD. Fundamentals as of Jul 4, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 4, 2026. TTM = trailing twelve months.
About the company
Union Steel Holdings Limited, an investment holding company, provides metals, scaffolding, and engineering services in Singapore, Indonesia, France, the United States, India, the Middle East, Brazil, Malaysia, the Netherlands, China, and internationally. The company operates through Metals, Scaffolding, Engineering, and Others segments. It engages in the recycling and trading of ferrous and non-ferrous scrap metals; and steel leasing solutions of steel sheet piles, mild plates, test piles, and beams to construction industry. The company also supplies reinforcement steel bars, H-beams, I-beams, pipes, steel plates, and sheet piles, as well as provides steel storage and handling services. In addition, it is involved in the consultancy, sale, and rental of scaffolding materials; and the supply of skilled workers for erection and dismantling of scaffolds. Further, the company supplies hydraulic winches and power packs; manufactures motor vehicle bodies; and offers mechanical …
Revenue & earnings trend
FY2020 – FY2024 · reported fiscal years
Union Steel Holdings reported revenue of 106M SGD in FY2024 versus 9.6M SGD in FY2020, a compound +82.1%/yr. Reported net income was 9.5M SGD in FY2024.
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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.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.