HRnetGroup Valuation

Is CHZ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CHZ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CHZ (SGD0.7) is trading below our estimate of fair value (SGD1.68)

Significantly Below Fair Value: CHZ is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CHZ?

Key metric: As CHZ is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CHZ. This is calculated by dividing CHZ's market cap by their current earnings.
What is CHZ's PE Ratio?
PE Ratio	12.1x
Earnings	S$56.96m
Market Cap	S$686.44m

CHZ key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.7x
Enterprise Value/EBITDA	7.9x
PEG Ratio	12.3x

Price to Earnings Ratio vs Peers

How does CHZ's PE Ratio compare to its peers?

The above table shows the PE ratio for CHZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	50.7x
SGR Sheffield Green	160.3x	n/a	S$35.0m
TCU Credit Bureau Asia	24.9x	n/a	S$264.9m
WJP VICOM	16.7x	n/a	S$471.6m
2168 Pasona Group	0.8x	-152.3%	JP¥76.7b
CHZ HRnetGroup	12.1x	1.0%	S$686.4m

Price-To-Earnings vs Peers: CHZ is good value based on its Price-To-Earnings Ratio (12.1x) compared to the peer average (50.7x).

Price to Earnings Ratio vs Industry

How does CHZ's PE Ratio compare vs other companies in the Asian Professional Services Industry?

3 Companies	Price / Earnings	Estimated Growth	Market Cap

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: CHZ is good value based on its Price-To-Earnings Ratio (12.1x) compared to the Asian Professional Services industry average (19.7x).

Price to Earnings Ratio vs Fair Ratio

What is CHZ's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CHZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.1x
Fair PE Ratio	6.9x

Price-To-Earnings vs Fair Ratio: CHZ is expensive based on its Price-To-Earnings Ratio (12.1x) compared to the estimated Fair Price-To-Earnings Ratio (6.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CHZ forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	S$0.70	S$0.77 +9.3%	8.5%	S$0.84	S$0.70	n/a	4
Nov ’25	S$0.68	S$0.77 +12.5%	8.5%	S$0.84	S$0.70	n/a	4
Oct ’25	S$0.68	S$0.79 +17.0%	6.8%	S$0.84	S$0.70	n/a	4
Sep ’25	S$0.69	S$0.79 +13.7%	6.8%	S$0.84	S$0.70	n/a	4
Aug ’25	S$0.68	S$0.82 +21.0%	2.8%	S$0.85	S$0.80	n/a	4
Jul ’25	S$0.70	S$0.82 +17.5%	2.8%	S$0.85	S$0.80	n/a	4
Jun ’25	S$0.70	S$0.82 +17.5%	2.8%	S$0.85	S$0.80	n/a	4
May ’25	S$0.71	S$0.82 +15.0%	2.8%	S$0.85	S$0.80	n/a	4
Apr ’25	S$0.72	S$0.82 +13.4%	2.8%	S$0.85	S$0.80	n/a	4
Mar ’25	S$0.71	S$0.82 +15.0%	2.8%	S$0.85	S$0.80	n/a	4
Feb ’25	S$0.70	S$0.85 +21.1%	5.7%	S$0.91	S$0.80	n/a	4
Jan ’25	S$0.71	S$0.85 +18.9%	5.2%	S$0.91	S$0.80	n/a	5
Dec ’24	S$0.70	S$0.85 +21.4%	5.2%	S$0.91	S$0.80	n/a	5
Nov ’24	S$0.69	S$0.85 +22.3%	5.2%	S$0.91	S$0.80	S$0.68	5
Oct ’24	S$0.73	S$0.85 +15.6%	5.2%	S$0.91	S$0.80	S$0.68	5
Sep ’24	S$0.74	S$0.85 +14.1%	5.2%	S$0.91	S$0.80	S$0.69	5
Aug ’24	S$0.72	S$0.90 +24.7%	8.7%	S$1.00	S$0.80	S$0.68	5
Jul ’24	S$0.74	S$0.90 +21.4%	8.7%	S$1.00	S$0.80	S$0.70	5
Jun ’24	S$0.77	S$0.98 +27.3%	7.3%	S$1.07	S$0.85	S$0.70	5
May ’24	S$0.75	S$0.98 +30.7%	7.3%	S$1.07	S$0.85	S$0.71	5
Apr ’24	S$0.81	S$1.02 +25.6%	3.7%	S$1.07	S$0.98	S$0.72	5
Mar ’24	S$0.81	S$1.03 +27.5%	3.6%	S$1.07	S$0.98	S$0.71	5
Feb ’24	S$0.81	S$1.08 +33.0%	5.0%	S$1.18	S$1.01	S$0.70	5
Jan ’24	S$0.79	S$1.08 +38.1%	5.0%	S$1.18	S$1.01	S$0.71	5
Dec ’23	S$0.80	S$1.08 +35.5%	5.0%	S$1.18	S$1.01	S$0.70	5
Nov ’23	S$0.74	S$1.08 +46.5%	5.0%	S$1.18	S$1.01	S$0.69	5

Analyst Forecast: Target price is less than 20% higher than the current share price.