QES Group Bhd (0196) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of QES Group Bhd stock MYR 0.41, price MYR 0.60, that is 31.7% below the price, quality 65 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 0.3384 MYR – 0.8880 MYR · fair‑value band 0.2900 MYR – 0.5400 MYR · the 0.6000 MYR price screens above the 0.4100 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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QES Group Berhad, an investment holding company, engages in the manufacture, distribution, and provision of engineering services for inspection, test, measuring, analytical, and automated handling equipment.
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It operates through Equipment, Materials and Engineering Solutions, and Manufacturing segments.
The company offers analytical instruments; inspection, test, and measurement equipment; material and engineering solutions; production equipment; smart automation solutions; and semiconductor inspection and handling.
It also provides vision software solutions for automated equipment, mechanical and electrical engineering consultancy service, trading and servicing of industrial parts, and equipment.
In addition, the company markets and services scientific instruments; trades in and services industrial parts and equipment; and manufactures and trades in industrial equipment and systems, as well as engages in wholesale, technical testing, and analysis of machinery, equipment, and supplies.
The company serves semiconductors, electrical and electronics, academia and research, petrochemical and oleochemical, metal and mining, oil and gas, environment, and automotive industries.
It has operations in Malaysia, Vietnam, Thailand, the Philippines, Singapore, Indonesia, India, China, Myanmar, Germany, Lao People's Democratic Republic, Malta, and internationally. QES Group Berhad was founded in 1991 and is headquartered in Shah Alam, Malaysia.
Stock analysis
QES Group Bhd (0196) currently trades at 0.6000 MYR, while our model-based Fair Value estimate is 0.4100 MYR, 32% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 0.4950 MYR per share, and 3 of the 26 models we run sit above the 0.6000 MYR price.
Bear case: the Asset-Based group reads lowest at 0.1000 MYR, and 23 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.2900 MYR (bear) to 0.5400 MYR (bull), the price of 0.6000 MYR sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
QES Group Bhd reported revenue of 267M MYR in FY2025 versus 223M MYR in FY2021, a compound +4.6%/yr. Reported net income was 16.3M MYR in FY2025, compounding −3.7%/yr from FY2021.
Key figures
Market cap 563M MYR (≈ $139M) Micro · P/E ratio 20.0 · P/S ratio 2.01 · EPS (TTM) 0.0300 MYR · Dividend yield 1.3% · Net margin 7.7% · Return on equity 11.7% · Return on assets (EBIT) 10.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 76% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 0% fair-value upside, at −32%, 0196 screens richer than that median.
Fair Value models
Bear0.2900 MYRFair Value 0.4100 MYRBull0.5400 MYR
Price 0.6000 MYR · Downside -31.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.0189 MYR per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.73/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.0%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.3%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.4%
Start year 2020 (pandemic). Over 10 years: +7.6% a year
Revenue growth 10 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+7.6%
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What shareholders gained per year (last 5 years), in MYR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in MYR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+14.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.5%
Dividend (yield on the price)1.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.13.5% vs 2.3%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 12%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+13.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +18.6% a year for the price and +10.8% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Electronics & Computer Distribution · 149 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside−31.7% · Below median
Profitability
Return on equity (12 months)11.7% · Above median
Return on assets5.0% · Above median
Net margin (12 months)7.7% · Top 25%
Operating margin (12 months)13.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)1.9% · Below median
Dividend yield (12 months)1.3% · Below median
Balance sheet
Debt / equity0.21× · Highest 25%
Valuation Multiplesvs Electronics & Computer Distribution median · lower = cheaper
P/E (12 months)20.0× · Pricier than median
P/B2.88× · Priciest 25%
P/S (12 months)2.01× · Priciest 25%
Price / free cash flow (fiscal year)28.2× · Pricier than median
EV/EBITDA14.0× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 39
FUTURE (revenue growth)10· sector 76
PAST (return on equity)47· sector 41
HEALTH (low debt)89· sector 98
DIVIDEND (yield)27· sector 62
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "QES Group Bhd Fair Value". https://www.fairvalue-calculator.com/stock/0196
Frequently asked questions
Is QES Group Bhd (0196) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 0.4100 MYR versus a price of 0.6000 MYR, about 32% lower (overvalued).
What is the fair value of 0196?
Our model-based fair value for QES Group Bhd is 0.4100 MYR (as of Nov 5, 2026), built from audited fundamentals. The current price: 0.6000 MYR.
What is the quality score of 0196?
QES Group Bhd has a Quality Score of 65/100. 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 price target for QES Group Bhd (0196)?
Our model-based price target is the fair value of 0.4100 MYR (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 0.2900 MYR, optimistic scenario 0.5400 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the QES Group Bhd stock forecast for 2026?
Our models put fair value at 0.4100 MYR, about 32% lower versus a price of 0.6000 MYR (overvalued). Cautious scenario 0.2900 MYR, optimistic scenario 0.5400 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of QES Group Bhd (0196)?
QES Group Bhd reported trailing-twelve-month revenue of about 281M MYR (latest available figure, as of Nov 5, 2026).
Does QES Group Bhd pay a dividend?
QES Group Bhd currently shows a dividend yield of 1.33% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of QES Group Bhd (0196) and when is the ex-dividend date?
QES Group Bhd pays a dividend of 0.008 MYR per share a year, a dividend yield of 1.3%. The last ex-dividend date was Mar 13, 2026. A dividend has been paid every year since 2022. The payout ratio is 26.7% of earnings. Free cash flow covers the dividend 2.73 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into QES Group Bhd (0196)?
For today's price to be fair in a discounted-cash-flow model, QES Group Bhd would have to grow free cash flow by +21.0 % per year for five years (discount rate 13.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.4 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 0196 use?
Our models discount QES Group Bhd at 13.8 %: a base by market capitalisation (micro), damped by beta 0.92, country premium for Malaysia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For QES Group Bhd that is +21.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.8 %) and the same formula as our fair value.
How much growth has QES Group Bhd (0196) delivered so far?
Over the past 5 years revenue at QES Group Bhd grew +11.4 % a year. The price currently implies free-cash-flow growth of +21.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of QES Group Bhd (0196) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into QES Group Bhd (+21.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of QES Group Bhd (0196)?
The free-cash-flow yield on the price is 4.00 %: that much free cash flow QES Group Bhd produces per unit of market value. When it exceeds the discount rate of our models (13.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of QES Group Bhd (0196)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For QES Group Bhd it is 0.4100 MYR per share (as of Nov 5, 2026), against a price of 0.6000 MYR. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is QES Group Bhd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 0196 trades above its calculated fair value: price 0.6000 MYR, fair value 0.4100 MYR, a gap of about −32% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0196?
No. The price is what the market pays today (0.6000 MYR); the fair value is what the company's own numbers justify (0.4100 MYR). For QES Group Bhd the two are 0.1900 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is QES Group Bhd worth?
The market values QES Group Bhd at about 563M MYR (market capitalisation, as of Nov 5, 2026). Per share that is 0.6000 MYR; our models calculate a fair value of 0.4100 MYR per share.
What do the bullish and bearish scenarios say about 0196?
Our models span a range for QES Group Bhd: cautious scenario 0.2900 MYR, base 0.4100 MYR, optimistic 0.5400 MYR per share (as of Nov 5, 2026, price 0.6000 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0196?
QES Group Bhd trades at a price-to-earnings ratio of 20.0 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.4100 MYR is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2018 to 2025), reported earnings, FY2025 ex one-offs: 25.7. Other multiples: P/B 2.9, P/S 2.0, EV/EBITDA 14.0.
How solid is the balance sheet of QES Group Bhd (0196)?
Balance-sheet figures for QES Group Bhd (as of Nov 5, 2026): return on equity 11.7%, debt of 0.21 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is 0196 from its 52-week high?
QES Group Bhd trades at 0.6000 MYR, about 11% below its 52-week high of 0.6750 MYR and 76% above the low of 0.3400 MYR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 0.4100 MYR is for.
Which stocks are comparable to QES Group Bhd?
From the same area (Technology) we also value TD SYNNEX Corporation, Unisplendour Corporation, Arrow Electronics, Inc, Avnet, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is QES Group Bhd stock attractive at the current price?
The data as of Nov 5, 2026: price 0.6000 MYR, calculated fair value 0.4100 MYR (−32%), Quality Score 65/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0196 calculated?
We run QES Group Bhd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 0.4100 MYR builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. QES Group Bhd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of QES Group Bhd (0196)?
The closing price on Nov 6, 2026 was 0.6000 MYR. Our model-based fair value is 0.4100 MYR, about 32% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with QES Group Bhd right now?
The price sits above even our optimistic bull case (0.5400 MYR). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (0.2900 MYR to 0.5400 MYR) leaves room in how you read the outcome.
Key figures of QES Group Bhd
How large is the market capitalisation of QES Group Bhd (0196)?
The market capitalisation of QES Group Bhd is 563M MYR (≈ $139M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of QES Group Bhd (0196)?
The price-to-sales ratio of QES Group Bhd is 2.01 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of QES Group Bhd (0196)?
Earnings per share at QES Group Bhd are 0.0300 MYR (price ÷ EPS = P/E 20.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of QES Group Bhd (0196)?
The dividend yield of QES Group Bhd is 1.3% (payout 26.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of QES Group Bhd (0196)?
The net margin of QES Group Bhd is 7.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of QES Group Bhd (0196)?
The return on equity (ROE) of QES Group Bhd is 11.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of QES Group Bhd (0196)?
On an EBIT basis the return on assets of QES Group Bhd is 10.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of QES Group Bhd (0196)?
The operating margin of QES Group Bhd is 13.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at QES Group Bhd (0196)?
Revenue at QES Group Bhd is growing +1.9% versus a year earlier (3y avg +0.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at QES Group Bhd (0196)?
Earnings per share at QES Group Bhd are growing +58.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does QES Group Bhd (0196) hold?
QES Group Bhd holds more cash than debt, 29.2M MYR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 5, 2026