Bursa Malaysia Bhd (1818) fair value: what the stock is really worth
As of Nov 2, 2026: fair value (intrinsic value) of Bursa Malaysia Bhd stock MYR 4.13, price MYR 8.10, that is 49.0% below the price, quality 72 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range 5.10 MYR – 9.31 MYR · fair‑value band 3.01 MYR – 5.09 MYR · the 8.10 MYR price screens above the 4.13 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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Bursa Malaysia Berhad, an exchange holding company, provides treasury management, and management and administrative services in Malaysia and internationally.
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The company operates through six segments: Securities Market, Derivatives Market, Islamic Market, Data Business, Exchange Holding Business, and Others.
It engages in provision and operation of the listing, trading, clearing, and depository services on the securities exchange and trading and clearing services on the derivatives exchange.
It also engages in provision of Shariah compliant Murabahah commodity trading platform to facilitate Islamic finance transactions and liquidity management for Islamic financial institutions, and Shariah compliant market for precious metals and provision and dissemination of information relating to equity securities and derivatives quoted on the exchange, as well as data reported from the bond platform.
In addition, it functions as investment holding company; and engages in provision of a multi-environment product exchange, a debt fundraising platform for small to mid-sized companies, a reporting platform for bond traders, and an exchange for the voluntary carbon and offshore markets.
Further, it offers equities, bonds, derivatives, Islamic market products, indices, central depository system (CDS) accounts, network access and infrastructure services, BTS2 on boarding, and co-location services; offshore listings of Sukuk; and acts as a nominee for Bursa Malaysia Depository and receives securities on deposit for safe-custody or management.
The company was founded in 1930 and is based in Kuala Lumpur, Malaysia.
Stock analysis
Bursa Malaysia Bhd (1818) currently trades at 8.10 MYR, while our model-based Fair Value estimate is 4.13 MYR, 49.0% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 5.00 MYR per share, and 0 of the 12 models we run sit above the 8.10 MYR price.
Bear case: the Asset-Based group reads lowest at 0.5100 MYR, and 12 of the 12 models stay below the price. Data coverage for this calculation is high.
Scenario range: 3.01 MYR (bear) to 5.09 MYR (bull), the price of 8.10 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 72/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Bursa Malaysia Bhd reported revenue of 702M MYR in FY2025 versus 752M MYR in FY2021, a compound −1.7%/yr. Reported net income was 250M MYR in FY2025, compounding −8.4%/yr from FY2021.
Key figures
Market cap 6.6B MYR (≈ $1.6B) Small · P/E ratio 23.8 · P/S ratio 7.92 · EPS (TTM) 0.3400 MYR · Dividend yield 1.7% · Net margin 33.3% · Return on equity 36.3% · Return on assets (EBIT) 9.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 86 out of 100 (medium confidence).
What moves the price
The share trades about 9% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −34% fair-value upside, at −49%, 1818 screens richer than that median.
Fair Value models
Bear3.01 MYRFair Value 4.13 MYRBull5.09 MYR
Price 8.10 MYR · Downside -49.0%
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 (0.1677 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−7.4%
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.
+6.2%
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.
−2.1%
Start year 2020 (pandemic). Over 10 years: +3.7% a year
Revenue growth 20 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.
+6.7%
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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.
−5.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.8%
Dividend (yield on the price)1.7%
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.−6.8% vs 2.3%, slowing
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.65% → 48%
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).
+17.5%
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.
+6.2%
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 +15.2% a year for the price and +4.1% 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.Financial Data & Stock Exchanges · 47 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score72 · Above median
Fair Value upside−49.0% · Bottom 25%
Profitability
Return on equity (12 months)36.3% · Top 25%
Return on assets7.8% · Below median
Net margin (12 months)33.3% · Below median
Operating margin (12 months)44.9% · Above median
Growth and dividend
Revenue growth (quarter YoY)20.3% · Top 25%
Dividend yield (12 months)1.7% · Above median
Valuation Multiplesvs Financial Data & Stock Exchanges median · lower = cheaper
P/E (12 months)23.8× · Cheaper than median
P/B8.19× · Priciest 25%
P/S (12 months)7.92× · Cheaper than median
Price / free cash flow27.9× · Pricier than median
EV/EBITDA14.7× · Cheaper than median
PEG1.00× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 71
PAST (return on equity)100· sector 81
HEALTH (low debt)0· sector 93
DIVIDEND (yield)35· sector 34
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). "Bursa Malaysia Bhd Fair Value". https://www.fairvalue-calculator.com/stock/1818.KLSE
Frequently asked questions
Is Bursa Malaysia Bhd (1818) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of 4.13 MYR versus a price of 8.10 MYR, about 49% lower (overvalued).
What is the fair value of 1818?
Our model-based fair value for Bursa Malaysia Bhd is 4.13 MYR (as of Nov 1, 2026), built from audited fundamentals. The current price: 8.10 MYR.
What is the quality score of 1818?
Bursa Malaysia Bhd has a Quality Score of 72/100. 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 Bursa Malaysia Bhd (1818)?
Our model-based price target is the fair value of 4.13 MYR (as of Nov 1, 2026) from 12 valuation models. Cautious scenario 3.01 MYR, optimistic scenario 5.09 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Bursa Malaysia Bhd stock forecast for 2026?
Our models put fair value at 4.13 MYR, about 49% lower versus a price of 8.10 MYR (overvalued). Cautious scenario 3.01 MYR, optimistic scenario 5.09 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Bursa Malaysia Bhd (1818)?
Bursa Malaysia Bhd reported trailing-twelve-month revenue of about 827M MYR (latest available figure, as of Nov 1, 2026).
Does Bursa Malaysia Bhd pay a dividend?
Bursa Malaysia Bhd currently shows a dividend yield of 1.73% relative to its recent price (as of Nov 1, 2026).
What growth is priced into Bursa Malaysia Bhd (1818)?
For today's price to be fair in a discounted-cash-flow model, Bursa Malaysia Bhd would have to grow free cash flow by +17.5 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.1 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of 1818 use?
Our models discount Bursa Malaysia Bhd at 11.1 %: a base by market capitalisation (small), damped by beta 0.26, 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 Bursa Malaysia Bhd that is +17.5 % per year a year over ten years, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has Bursa Malaysia Bhd (1818) delivered so far?
Over the past 5 years revenue at Bursa Malaysia Bhd grew -2.1 % a year. The price currently implies +17.5 % per year free-cash-flow growth a 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 Bursa Malaysia Bhd (1818) growing?
The median revenue growth in the sector is +9.6 % a year. That is the yardstick for the growth priced into Bursa Malaysia Bhd (+17.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bursa Malaysia Bhd (1818)?
The free-cash-flow yield on the price is 3.58 %: that much free cash flow Bursa Malaysia Bhd produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bursa Malaysia Bhd (1818)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bursa Malaysia Bhd it is 4.13 MYR per share (as of Nov 1, 2026), against a price of 8.10 MYR. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Bursa Malaysia Bhd stock overvalued or undervalued in 2026?
As of Nov 1, 2026, 1818 trades above its calculated fair value: price 8.10 MYR, fair value 4.13 MYR, a gap of about −49% (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 1818?
No. The price is what the market pays today (8.10 MYR); the fair value is what the company's own numbers justify (4.13 MYR). For Bursa Malaysia Bhd the two are 3.97 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Bursa Malaysia Bhd worth?
The market values Bursa Malaysia Bhd at about 6.6B MYR (market capitalisation, as of Nov 1, 2026). Per share that is 8.10 MYR; our models calculate a fair value of 4.13 MYR per share.
What do the bullish and bearish scenarios say about 1818?
Our models span a range for Bursa Malaysia Bhd: cautious scenario 3.01 MYR, base 4.13 MYR, optimistic 5.09 MYR per share (as of Nov 1, 2026, price 8.10 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1818?
Bursa Malaysia Bhd trades at a price-to-earnings ratio of 23.8 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 4.13 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: 23.6. Other multiples: PEG 1.0, P/B 8.2, P/S 7.9, EV/EBITDA 14.7.
What is the PEG ratio of 1818?
The PEG ratio of Bursa Malaysia Bhd is 1.00 (P/E divided by earnings growth, as of Nov 1, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Bursa Malaysia Bhd (1818)?
Balance-sheet figures for Bursa Malaysia Bhd (as of Nov 1, 2026): return on equity 36.3%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is 1818 from its 52-week high?
Bursa Malaysia Bhd trades at 8.10 MYR, about 9% below its 52-week high of 8.93 MYR and 3% above the low of 7.89 MYR (as of Nov 2, 2026). Distance from the high says nothing about value: that is what the fair value of 4.13 MYR is for.
Which stocks are comparable to Bursa Malaysia Bhd?
From the same area (Financial Services) we also value S&P Global Inc, CME Group, Intercontinental Exchange, Inc, Moody's Corporation, 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 Bursa Malaysia Bhd stock attractive at the current price?
The data as of Nov 1, 2026: price 8.10 MYR, calculated fair value 4.13 MYR (−49%), Quality Score 72/100, from 12 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 1818 calculated?
We run Bursa Malaysia Bhd through 12 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 4.13 MYR, 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 14.9 % above its aggregate fair value. Bursa Malaysia 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 Bursa Malaysia Bhd (1818)?
The closing price on Nov 2, 2026 was 8.10 MYR. Our model-based fair value is 4.13 MYR, about 49% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bursa Malaysia Bhd right now?
The price sits above even our optimistic bull case (5.09 MYR). The favourable scenario is already priced in. Solid but not exceptional quality (72/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Bursa Malaysia Bhd (1818) come from?
Earnings per share at Bursa Malaysia Bhd grew +3.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.0 %, EBIT margin −0.2 %, tax rate +0.3 %, residual (interest, one-offs) −0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Bursa Malaysia Bhd
How large is the market capitalisation of Bursa Malaysia Bhd (1818)?
The market capitalisation of Bursa Malaysia Bhd is 6.6B MYR (≈ $1.6B). 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 Bursa Malaysia Bhd (1818)?
The price-to-sales ratio of Bursa Malaysia Bhd is 7.92 (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 Bursa Malaysia Bhd (1818)?
Earnings per share at Bursa Malaysia Bhd are 0.3400 MYR (price ÷ EPS = P/E 23.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bursa Malaysia Bhd (1818)?
The dividend yield of Bursa Malaysia Bhd is 1.7% (payout 41.2%). 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 Bursa Malaysia Bhd (1818)?
The net margin of Bursa Malaysia Bhd is 33.3% (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 Bursa Malaysia Bhd (1818)?
The return on equity (ROE) of Bursa Malaysia Bhd is 36.3% (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 Bursa Malaysia Bhd (1818)?
On an EBIT basis the return on assets of Bursa Malaysia Bhd is 9.6% (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 Bursa Malaysia Bhd (1818)?
The operating margin of Bursa Malaysia Bhd is 44.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bursa Malaysia Bhd (1818)?
Revenue at Bursa Malaysia Bhd is growing +20.3% versus a year earlier (3y avg +6.2%). 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 Bursa Malaysia Bhd (1818)?
Earnings per share at Bursa Malaysia Bhd are growing +10.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Bursa Malaysia Bhd (1818) hold?
Bursa Malaysia Bhd holds more cash than debt, 562M MYR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 1, 2026