Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Ten-League International Holdings Limited Ordinary Shares's cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 1.1% to 2.6% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 96, DPO 80, DIO 82). At a 5.1% WACC with mid-year discounting, the terminal value (80% of enterprise value) is derived from the Gordon Growth Model on Year 6 FCFF at a 2.5% perpetual rate. After subtracting net debt, the equity value implies a fair price of $30.52 per share, suggesting TLIH is undervalued by 688.6% at the current price of $3.87.
Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.
| 2025 | 2026 | 2027 | 2028 | 2029 | Terminal | |
|---|---|---|---|---|---|---|
| Profit Before Tax | 4 | 4 | 4 | 4 | 4 | 5 |
| (−) Net Interest | 0 | 0 | 1 | 1 | 1 | 1 |
| (+) D&A | 8 | 10 | 10 | 9 | 9 | 10 |
| EBITDA | 13 | 14 | 15 | 14 | 14 | 15 |
| (−) Tax | 1 | 1 | 1 | 1 | 1 | 1 |
| (−) CapEx | 9 | 9 | 9 | 10 | 10 | 10 |
| (−) ΔWC | -8 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow (FCFF) | 11 | 4 | 4 | 3 | 3 | 3 |
| Terminal Value | 123 | |||||
| WACC / Discount Rate | 5.1% | |||||
| Long-term Growth Rate | 2.5% | |||||
| Timing of FCF (mid year) | 0.5 | 1.5 | 2.5 | 3.5 | 4.5 | 5 |
| Present Value of FCF | 10 | 4 | 4 | 3 | 3 | 96 |
| Enterprise Value | 119 | |||||
| Projection Period | 23 | 19.5% | ||||
| Terminal Value | 96 | 80.5% | ||||
| (−) Current Net Debt | 27 | |||||
| Equity Value | 92 | |||||
| (/) Outstanding Shares | 3 | |||||
| Fair Price | $30.52 | |||||
| WACC \ Terminal Growth Rate | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 3.1% | $56 | $81 | $146 | $737 | $17 |
| 4.1% | $32 | $40 | $53 | $77 | $139 |
| 5.1% | $22 | $25 | $31 | $38 | $50 |
| 6.1% | $16 | $18 | $21 | $24 | $29 |
| 7.1% | $12 | $13 | $15 | $17 | $19 |
Current price: $3.87. Green = undervalued, Red = overvalued.
Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Ten-League International Holdings Limited Ordinary Shares's cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 1.0% to 2.8% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 96, DPO 80, DIO 82). At a 5.1% WACC with mid-year discounting, the terminal value (69% of enterprise value) is derived from the Gordon Growth Model on Year 11 FCFF at a 2.5% perpetual rate. After subtracting net debt, the equity value implies a fair price of $27.71 per share, suggesting TLIH is undervalued by 615.9% at the current price of $3.87.
Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.
| 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 | 2034 | Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit Before Tax | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 |
| (−) Net Interest | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| (+) D&A | 8 | 10 | 10 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 |
| EBITDA | 13 | 14 | 15 | 14 | 14 | 14 | 14 | 15 | 15 | 15 | 16 |
| (−) Tax | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| (−) CapEx | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 10 | 11 | 11 |
| (−) ΔWC | -8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow (FCFF) | 11 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Terminal Value | 125 | ||||||||||
| WACC / Discount Rate | 5.1% | ||||||||||
| Long-term Growth Rate | 2.5% | ||||||||||
| Timing of FCF (mid year) | 0.5 | 1.5 | 2.5 | 3.5 | 4.5 | 5.5 | 6.5 | 7.5 | 8.5 | 9.5 | 5 |
| Present Value of FCF | 11 | 4 | 4 | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 76 |
| Enterprise Value | 110 | ||||||||||
| Projection Period | 35 | 31.4% | |||||||||
| Terminal Value | 76 | 68.6% | |||||||||
| (−) Current Net Debt | 27 | ||||||||||
| Equity Value | 83 | ||||||||||
| (/) Outstanding Shares | 3 | ||||||||||
| Fair Price | $27.71 | ||||||||||
| WACC \ Terminal Growth Rate | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 3.1% | $53 | $75 | $132 | $646 | $19 |
| 4.1% | $31 | $37 | $48 | $68 | $120 |
| 5.1% | $21 | $24 | $28 | $34 | $43 |
| 6.1% | $15 | $17 | $19 | $21 | $25 |
| 7.1% | $11 | $12 | $14 | $15 | $17 |
Current price: $3.87. Green = undervalued, Red = overvalued.
Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Ten-League International Holdings Limited Ordinary Shares's cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 1.1% to 2.6% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 96, DPO 80, DIO 82). At a 5.1% WACC with mid-year discounting, the terminal value (90% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 18.1x to Year 6 EBITDA. After subtracting net debt, the equity value implies a fair price of $67.37 per share, suggesting TLIH is undervalued by 1640.9% at the current price of $3.87.
Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.
| 2025 | 2026 | 2027 | 2028 | 2029 | Terminal | |
|---|---|---|---|---|---|---|
| Profit Before Tax | 4 | 4 | 4 | 4 | 4 | 5 |
| (−) Net Interest | 0 | 0 | 1 | 1 | 1 | 1 |
| (+) D&A | 8 | 10 | 10 | 9 | 9 | 10 |
| EBITDA | 13 | 14 | 15 | 14 | 14 | 15 |
| (−) Tax | 1 | 1 | 1 | 1 | 1 | — |
| (−) CapEx | 9 | 9 | 9 | 10 | 10 | — |
| (−) ΔWC | -8 | 0 | 0 | 0 | 0 | — |
| Free Cash Flow (FCF) | 11 | 4 | 4 | 3 | 3 | — |
| Peers' EBITDA Multiple | 18.1x | |||||
| Terminal Value | 265 | |||||
| WACC / Discount Rate | 5.12% | |||||
| Timing of FCF (mid year) | 0.5 | 1.5 | 2.5 | 3.5 | 4.5 | 5 |
| Present Value of FCF | 10 | 4 | 4 | 3 | 3 | 206 |
| Enterprise Value | 229 | |||||
| Projection Period | 23 | 10.1% | ||||
| Terminal Value | 206 | 89.9% | ||||
| (−) Current Net Debt | 27 | |||||
| Equity Value | 202 | |||||
| (÷) Outstanding Shares | 3M | |||||
| Fair Price | $67 | +1640.4% | ||||
| WACC \ EV/EBITDA Exit Multiple | 14.1x | 16.1x | 18.1x | 20.1x | 22.1x |
|---|---|---|---|---|---|
| 3.1% | $58 | $66 | $75 | $83 | $91 |
| 4.1% | $55 | $63 | $71 | $79 | $87 |
| 5.1% | $52 | $60 | $67 | $75 | $83 |
| 6.1% | $50 | $57 | $64 | $71 | $79 |
| 7.1% | $47 | $54 | $61 | $68 | $75 |
Current price: $3.87. Green = undervalued, Red = overvalued.
Based on default parameters
Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Ten-League International Holdings Limited Ordinary Shares's cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 1.0% to 2.8% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 96, DPO 80, DIO 82). At a 5.1% WACC with mid-year discounting, the terminal value (83% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 18.1x to Year 11 EBITDA. After subtracting net debt, the equity value implies a fair price of $60.36 per share, suggesting TLIH is undervalued by 1459.6% at the current price of $3.87.
Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.
| 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 | 2034 | Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit Before Tax | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 |
| (−) Net Interest | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| (+) D&A | 8 | 10 | 10 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 |
| EBITDA | 13 | 14 | 15 | 14 | 14 | 14 | 14 | 15 | 15 | 15 | 16 |
| (−) Tax | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | — |
| (−) CapEx | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 10 | 11 | — |
| (−) ΔWC | -8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Free Cash Flow (FCF) | 11 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | — |
| Peers' EBITDA Multiple | 18.1x | ||||||||||
| Terminal Value | 286 | ||||||||||
| WACC / Discount Rate | 5.12% | ||||||||||
| Timing of FCF (mid year) | 0.5 | 1.5 | 2.5 | 3.5 | 4.5 | 5.5 | 6.5 | 7.5 | 8.5 | 9.5 | 5 |
| Present Value of FCF | 11 | 4 | 4 | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 174 |
| Enterprise Value | 208 | ||||||||||
| Projection Period | 35 | 16.6% | |||||||||
| Terminal Value | 174 | 83.4% | |||||||||
| (−) Current Net Debt | 27 | ||||||||||
| Equity Value | 181 | ||||||||||
| (÷) Outstanding Shares | 3M | ||||||||||
| Fair Price | $60 | +1459.2% | |||||||||
| WACC \ EV/EBITDA Exit Multiple | 14.1x | 16.1x | 18.1x | 20.1x | 22.1x |
|---|---|---|---|---|---|
| 3.1% | $58 | $66 | $73 | $81 | $89 |
| 4.1% | $52 | $60 | $67 | $74 | $81 |
| 5.1% | $48 | $54 | $60 | $67 | $73 |
| 6.1% | $43 | $49 | $55 | $61 | $66 |
| 7.1% | $39 | $44 | $50 | $55 | $60 |
Current price: $3.87. Green = undervalued, Red = overvalued.
Based on default parameters
Using the industry peer median P/E Multiples multiple (trailing + forward), Ten-League International Holdings Limited Ordinary Shares (TLIH) has a fair value of $9.45 based on 2 comparable companies in the Rental & Leasing Services industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing P/E | Forward P/E | |
|---|---|---|---|
| Ten-League International Holdings Limited Ordinary SharesTLIH | 12 | 8.3x | — |
| Universal Safety Products, Inc. | 14 | 28.0x | 71.0x |
| Art's-Way Manufacturing Co., Inc. | 13 | 12.7x | — |
| Industry Median | 20.3x | 71.0x | |
| (*) Profit after tax | 1 | ||
| Equity Value | 28 | ||
| (/) Outstanding shares | 3 | ||
| Fair Price | $9 | ||
Using the industry peer median EV/EBITDA multiple (trailing + forward), Ten-League International Holdings Limited Ordinary Shares (TLIH) has a fair value of $29.68 based on 3 comparable companies in the Rental & Leasing Services industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing EV/EBITDA | Forward EV/EBITDA | |
|---|---|---|---|
| Ten-League International Holdings Limited Ordinary SharesTLIH | 12 | 6.1x | — |
| Universal Safety Products, Inc. | 14 | 28.2x | 11.9x |
| Art's-Way Manufacturing Co., Inc. | 13 | 18.1x | — |
| Cellyan Biotechnology Co., Ltd | 7 | 7.0x | — |
| Industry Median | 18.1x | 11.9x | |
| (*) EBITDA | 6 | ||
| = Enterprise Value | 116 | ||
| (-) Net Debt | 27 | ||
| Equity Value | 89 | ||
| (/) Outstanding shares | 3 | ||
| Fair Price | $30 | ||
Using the PEG framework with historical EPS growth of 8.0%, the company has a fair value of $3.72 based on TTM EPS (FY2024) of $0.46. The current PEG ratio is 4.89.
PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.
PEG tends to undervalue slow growers — consider dividend yield and asset value instead.
| EPS Growth RateHistorical | 1.7% |
| Adjusted Growth (clamped 8–25%)Clamped | 8.0% |
| Fair P/E | 8.0x |
| TTM EPS (FY2024) | $0.46 |
| Fair Value | $3.72 |
No analyst estimates available.
| Year | Net Income | EPS | YoY |
|---|---|---|---|
| FY2021 | $1.3M | $0.44 | — |
| FY2022 | $3.7M | $1.26 | +184.8% |
| FY2023 | $5.2M | $1.78 | +41.2% |
| FY2024 | $1.4M | $0.46 | -73.8% |
3Y Historical EPS CAGR: 1.7%
Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.