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Infinity Development Holdings Co Ltd (ZBA) Fair Value & Analysis

Basic Materials · SG · Market cap 127M SGD

ID Infinity Development Holdings Co Ltd ZBA · SG
Price0.4000 SGD
Fair Value0.9003 SGD
Upside+125.1%
Quality77/100
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Weak Growth
Solidly profitable · 13.8% net margin
generates free cash flow
Ranks above peers (8/9)
Moderate moat 61/100
Evidence: High Range 0.6329 SGD – 1.21 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 5 days ago

Fair value updated Aug 13, 2026, revised from 1.16 SGD to 0.9003 SGD (−22.4%) since Aug 9, 2026. Share price −3.6% over the past month.

A strong business, screening 125% undervalued on our models.

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What matters now

  • The rarer combination: high quality (77/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (0.6329 SGD). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (0.6329 SGD to 1.21 SGD) leaves room in how you read the outcome.
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Price vs Fair Value (8 months)

0.4605 SGD 0.3591 SGD Fair Value 0.9003 SGD Dec 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.

How to read this chart

8‑month range 0.3591 SGD – 0.4605 SGD · fair‑value band 0.6329 SGD – 1.21 SGD · the 0.4000 SGD price screens below the 0.9003 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Aug 13, 2026.

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Analysis

Infinity Development Holdings Co Ltd (ZBA) currently trades at 0.4000 SGD, while our model-based Fair Value estimate is 0.9003 SGD, implying the stock looks roughly 125.1% undervalued today. The Quality Score stands at 77/100 (high quality), in the Basic Materials 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, Infinity Development Holdings Co Ltd generated revenue of 827M SGD at a net margin of 13.8%. Revenue declined 1.9% year over year. It earns a return on equity of 17.6%. The stock trades on a trailing P/E of 6.7. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.6329 SGD (bear case) to 1.21 SGD (bull case); at 0.4000 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 15% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -68% fair-value upside, at 125%, ZBA 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
Residual Income 2.03 SGD 2.68 SGD 6.81 SGD 76
Growth DCF 3.02 SGD 3.75 SGD 4.60 SGD 72
Growth-Adj P/E 4.33 SGD 6.18 SGD 8.04 SGD 68
All 24 models by family
DCF Models
FCF DCF 3.03 SGD 3.87 SGD 4.93 SGD 38
Owner Earnings 3.03 SGD 3.87 SGD 4.93 SGD 31
5Y Revenue Exit 3.37 SGD 4.81 SGD 6.66 SGD 39
5Y EBITDA Exit 3.70 SGD 5.44 SGD 7.48 SGD 41
5Y P/E Exit 4.36 SGD 6.69 SGD 9.15 SGD 38
10Y Revenue Exit 3.12 SGD 4.28 SGD 5.83 SGD 36
10Y EBITDA Exit 3.37 SGD 4.65 SGD 6.37 SGD 37
10Y P/E Exit 3.73 SGD 5.40 SGD 7.47 SGD 35
Earnings-Based
Graham-Dodd 2.68 SGD 8.71 SGD 11.64 SGD 54
Lynch FV 1.95 SGD 2.78 SGD 3.61 SGD 50
PEG = 1.0 1.95 SGD 2.78 SGD 3.61 SGD 46
EPV 3.44 SGD 3.74 SGD 3.98 SGD 59
Multiples
P/E Multiple 5.02 SGD 6.70 SGD 8.37 SGD 63
P/S Multiple 3.03 SGD 4.04 SGD 5.05 SGD 58
P/B Multiple 4.56 SGD 6.08 SGD 7.59 SGD 55
EV/EBIT 5.59 SGD 7.13 SGD 8.67 SGD 53
EV/EBITDA 4.65 SGD 5.88 SGD 7.12 SGD 54
EV/Revenue 3.78 SGD 4.99 SGD 6.20 SGD 43
Asset-Based
NCAV (Graham) 1.01 SGD 1.36 SGD 2.03 SGD 50
Growth DCF
Growth DCF 3.02 SGD 3.75 SGD 4.60 SGD 72
Rev-Margin DCF 3.37 SGD 4.81 SGD 6.49 SGD 67
Economic Profit
Residual Income 2.03 SGD 2.68 SGD 6.81 SGD 76
ROIC Compounder 3.57 SGD 4.04 SGD 4.53 SGD 67
Growth Earnings
Growth-Adj P/E 4.33 SGD 6.18 SGD 8.04 SGD 68

Widest divergence: Growth Earnings (6.18 SGD) versus Asset-Based (1.36 SGD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 827M SGD
Revenue growth (YoY) -1.9%
Net margin 13.8%
Return on equity 17.6%
Free cash flow 76.6M SGD FY2025
P/E ratio 6.7
More key figures
Operating margin 14.5%
EPS (TTM) 0.0600 SGD
EPS growth (YoY) -20.3%

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

Quality Score breakdown

Overall quality 77/100

Of which business quality 75 · Market factors (momentum, volatility) 55

Profitability 72
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 100
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

Infinity Development Holdings Company Limited, an investment holding company, manufactures and sells adhesives, primers, hardeners, and other adhesive related products mainly used by footwear manufacturers. It also engages in provision of administrative support services, as well as acts as the distribution agent for chemical products.

Full company description

Infinity Development Holdings Company Limited, an investment holding company, manufactures and sells adhesives, primers, hardeners, and other adhesive related products mainly used by footwear manufacturers. It also engages in provision of administrative support services, as well as acts as the distribution agent for chemical products. In addition, the company offers OEM service to chemical companies. It operates in the People's Republic of China, Vietnam, Indonesia, India, and Bangladesh. The company was formerly known as Infinity Chemical Holdings Company Limited and changed its name to Infinity Development Holdings Company Limited in February 2016. Infinity Development Holdings Company Limited was founded in 1987 and is headquartered in Macau. Infinity Development Holdings Company Limited operates as a subsidiary of All Reach Investments Limited.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

Infinity Development Holdings Co Ltd reported revenue of 835M SGD in FY2025 versus 862M SGD in FY2022, a compound −1.1%/yr. Reported net income was 122M SGD in FY2025, compounding +6.4%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
835M SGD
Latest YoY
+13.4%
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.
−1.1%
Revenue −1.1%/yr
FY22 862M SGD
FY23 672M SGD
FY24 736M SGD
FY25 835M SGD
Net income +6.4%/yr
FY22 101M SGD
FY23 67.1M SGD
FY24 100M SGD
FY25 122M SGD

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Cite: Fair Value Calculator (2026). "Infinity Development Holdings Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/ZBA

Peer Group

Specialty Chemicals · 670 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 77 · Top 25%
Fair Value upside +125% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 15% · Top 25%
Revenue growth -2% · Below median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 6.7× · Cheaper than 75% of peers
P/FCF 1.3× · Cheaper 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 0
FUTURE 0 · sector 18
PAST 70 · sector 23
HEALTH 0 · sector 95
DIVIDEND 0 · sector 32

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

Stock Price Fair Value vs Fair Value
Linde plc LIN $479.43 $222.03 -54%
Wanhua Chemical Group 600309 ¥75.06 ¥68.03 -9%
Novozymes A/S NSISB kr 416.10 kr 170.02 -59%
Asian Paints Limited ASIANPAINT ₹2,630 ₹696.23 -74%
Solar Industries India Limited SOLARINDS ₹18,730 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,702 ₹351.84 -79%
PT Chandra Asri Pacific Tbk TPIA 2,160 IDR 2,322 IDR +8%
Berger Paints India Limited BERGEPAINT ₹541.00 ₹156.35 -71%
Gujarat Fluorochemicals Limited FLUOROCHEM ₹4,566 ₹836.47 -82%
Himadri Speciality Chemical Limited HSCL ₹778.15 ₹248.63 -68%

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Frequently asked questions

Is Infinity Development Holdings Co Ltd (ZBA) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.9003 SGD versus a price of 0.4000 SGD, about +125% (undervalued).
What is the fair value of ZBA?
Our model-based fair value for Infinity Development Holdings Co Ltd is 0.9003 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.4000 SGD.
What is the quality score of ZBA?
Infinity Development Holdings Co Ltd has a Quality Score of 77/100. 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 Infinity Development Holdings Co Ltd (ZBA)?
Infinity Development Holdings Co Ltd reported trailing-twelve-month revenue of about 827M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ZBA?
The net profit margin of Infinity Development Holdings Co Ltd is about 13.8%, meaning it keeps roughly 13.8% of revenue as net income. 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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