Singapore Main — Fair value
A slow-moving intrinsic anchor per name — earnings power and discounted cash flow, residual income for banks — answering what to pay, never when to trade.
1 unheld undervalued 11 held growth-priced-in 6 bargains ★
| Ticker | Name | Close | FV/sh | Method | MoS | Verdict | Quality | F | Bargain | |
|---|---|---|---|---|---|---|---|---|---|---|
| C07 H | Jardine C&C | 27.57 | 72.58 | EPV | +62% | UNDERVALUED | 3.0 | 6 | ||
| J36 | Jardine Matheson | 58.71 | 102.27 | EPV | +43% | UNDERVALUED | 6.5 | 6 | ||
| B61 H | BT SEMBAWANG EST | 4.41 | 5.92 | EPV | +25% | UNDERVALUED | 23.0 | 3 | ||
| N2IU H | Mapletree PanAsia Com Tr | 1.23 | 1.02 | DCF | -21% | GROWTH PRICED IN | 20.0 | 5 | ||
| V03 | Venture Corporation | 16.66 | 12.17 | EPV | -37% | GROWTH PRICED IN | 8.0 | 6 | ||
| G07 | Great Eastern | 20.44 | 13.35 | ResInc | -53% | OVERVALUED VS RI | 16.0 | 3 | ||
| U11 H | United Overseas Bank | 41.60 | 26.36 | ResInc | -58% | OVERVALUED VS RI | 25.0 | 4 | ||
| Z74 | Singtel | 4.54 | 2.84 | EPV | -60% | GROWTH PRICED IN | 10.0 | 5 | ||
| D05 H | DBS Group Holdings | 78.10 | 46.71 | ResInc | -67% | OVERVALUED VS RI | 22.0 | 4 | ||
| HMN H | CAPITALAND and ASCOTT STAPLE U | 0.85 | 0.48 | EPV | -78% | GROWTH PRICED IN | 9.0 | 7 | ||
| O39 H | OCBC Bank | 31.70 | 17.75 | ResInc | -79% | OVERVALUED VS RI | 18.0 | 5 | ||
| S59 | SIA ENGR | 3.13 | 1.73 | EPV | -81% | GROWTH PRICED IN | 5.0 | 6 | ||
| VC2 | Olam Group Ltd. | 1.07 | 0.47 | EPV | -127% | FAIR | 4.0 | 8 | ||
| U13 H | UOI LTD | 8.60 | 3.52 | ResInc | -144% | OVERVALUED VS RI | 15.0 | 6 | ||
| F34 | Wilmar International Ltd. | 3.73 | 1.41 | EPV | -164% | FAIR | 12.0 | 6 | ||
| 9CI H | CapitaLand Investment | 2.61 | 0.95 | DCF | -176% | GROWTH PRICED IN | 24.0 | 5 | ||
| S68 H | Singapore Exchange | 24.90 | 8.86 | ResInc | -181% | OVERVALUED VS RI | 1.0 | 7 | ||
| S58 | SATS | 4.06 | 1.40 | EPV | -190% | FAIR | 2.0 | 8 | ||
| BN4 | Keppel | 11.88 | 2.90 | EPV | -309% | GROWTH PRICED IN | 14.0 | 6 | ||
| BUOU H | FRASER L&C TRUST | 0.90 | 0.14 | EPV | -556% | FAIR | 11.0 | 6 | ||
| S63 H | ST Engineering | 10.34 | 0.97 | EPV | -965% | GROWTH PRICED IN | 6.5 | 5 | ||
| A17U H | CapitaLand Ascendas REIT | 2.37 | 0.16 | EPV | -1410% | GROWTH PRICED IN | 19.0 | 5 | ||
| ME8U H | Mapletree Industrial Trust | 1.93 | 0.10 | EPV | -1762% | GROWTH PRICED IN | 13.0 | 7 | ||
| C38U | CapitaLand Integrated Comm Tr | 2.34 | 0.06 | EPV | -4056% | GROWTH PRICED IN | 17.0 | 5 | ||
| M44U | Mapletree Logistics Trust | 1.15 | -0.19* | EPV | — | n/a · no data | 21.0 | 6 | ||
| J69U H | FRASERS CPT TR | 2.13 | — | EPV | — | n/a · no data | 26.0 | 1 |
How to read this table
- Ticker · H
- The exchange symbol; an H pill marks a name this book currently holds.
- Close
- The latest settled market price — what the stock costs today.
- FV/sh (fair value per share)
- Our estimate of what one share is intrinsically worth, from the company's own earnings power and cash flow — a slow-moving anchor refreshed with quarterly results, deliberately independent of the day's price action.
- Method
- How that fair value was computed: EPV (earnings power value — what steady current earnings are worth, assuming no growth), DCF (discounted cash flow — future cash flows brought back to today's dollars), or Bank (residual income — the right framework for banks, whose "cash flow" is not comparable to an industrial's).
- MoS (margin of safety)
- How far the price sits below fair value, as a percentage — the discount you get for buying today. Positive (teal) = priced below fair value; negative (red) = priced above it. The bar makes the size of the gap scannable.
- Verdict
- UNDERVALUED — price below the fair-value anchor. FAIR — above the anchor but still below the growth-inclusive DCF value. GROWTH PRICED IN — the price already assumes the optimistic growth case plays out. OVERVALUED VS RI — a bank trading above its residual-income value. When no verdict applies, the pill says why: n/a · currency — the listing trades in a different currency than the company reports in (typically an ADR: the price is USD per depositary share, the statements aren't), so price and fair value can't honestly be compared and the MoS is withheld (the FV/sh shown* is in the reporting currency); n/a · ETF — a fund holds other assets, so company-earnings frameworks don't apply; n/a · no data — not enough fundamentals to compute a fair value. n/a rows carry no valuation force downstream.
- Quality
- The name's rank within this book on a composite of five quality measures: return on invested capital, gross profitability, free-cash-flow yield, revenue growth, and the F-Score. Earlier letters = higher quality.
- F (Piotroski F-Score)
- A 0–9 checklist of accounting health — profitability, improving balance sheet, operating efficiency. 7–9 is strong; below 4 is a warning.
How valuation is used
Valuation re-ranks and resizes technical buy candidates by a bounded amount and can amplify a signal-based sell — it never originates a trade on its own. A richly priced name that is trending is not a sell case; a cheap one with no signal is not a buy case. n/a rows (ETFs, currency mismatches) carry no valuation force.