The Discounted Cash Flow (DCF) valuation of Tye Soon Ltd (BFU.SI) is 0.48 SGD. With the latest stock price at 0.28 SGD, the upside of Tye Soon Ltd based on DCF is 71.7%.

Is BFU.SI a buy or a sell?

Based on the latest price of 0.28 SGD and our DCF valuation, Tye Soon Ltd (BFU.SI) is a buy. Buying BFU.SI stocks now will result in a potential gain of 71.7%.

	Range	Selected
WACC / Discount Rate	4.2% - 6.9%	5.5%
Long-term Growth Rate	0.0% - 1.0%	0.5%
Fair Price	0.15 - 1.2	0.48
Upside	-46.2% - 327.9%	71.7%

0.28 SGD

Stock Price

0.48 SGD

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

BFU.SI DCF Valuation: Revenue & Expenses Forecast

(SGD in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	257	269	276	282	288	294
% Growth	1%	4%	3%	2%	2%	2%

Cost of goods sold	(199)	(208)	(214)	(218)	(223)	(228)
% of Revenue	77%	77%	77%	77%	77%	77%

Selling, G&A expenses	(29)	(31)	(31)	(32)	(33)	(33)
% of Revenue	11%	11%	11%	11%	11%	11%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	(23)	(24)	(25)	(25)	(26)	(26)
% of Revenue	9%	9%	9%	9%	9%	9%

Tax expense	(1)	(2)	(2)	(2)	(2)	(2)
Tax rate	25%	26%	26%	26%	26%	26%

Net profit	4	4	5	5	5	5
% Margin	2%	2%	2%	2%	2%	2%