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Tanco Holdings Bhd (2429) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Tanco Holdings Bhd stock MYR 0.03, price MYR 0.15, that is 83.0% below the price, quality 23 out of 100. Rating: strongly overvalued. Calculated from audited financials with 5 of our 26 valuation models and 37 quality factors, updated daily.

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Real Estate MY · ISIN MYL2429OO008

TH Tanco Holdings Bhd logo Thin data Nov 7, 2026

Tanco Holdings Bhd

2429 · KLSE
Very expensive, weak quality

Our calculation puts a fair price 83% below what the stock costs today.

Low debt
Revenue last quarter +20% vs. a year ago.
Expensive Growth (revenue YoY +25.2 %/yr in MYR)
Thin margins · 0.6% net margin (TTM)
Fair value 0.0255 MYR · Strongly overvalued
Quality 23/100
Negative free cash flow
Trails peers (2/10)
Narrow moat 23/100
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

1.76 MYR 0.0625 MYR Fair Value 0.0255 MYR Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range 0.0625 MYR – 1.76 MYR · fair‑value band 0.0255 MYR – 0.0340 MYR · the 0.1500 MYR price screens above the 0.0255 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

Tanco Holdings Berhad, an investment holding company, engages in the property development business primarily in Malaysia.

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It operates through Property Development/Management; Resorts and Club Operation/Management; Construction and Installation; Investment Holding; and Business Consulting Services segments.

The company invests, develops, constructs, and manages properties; operates and manages resorts, and golf and marina clubs; operates vacation ownership interval and point based schemes; and acts as a general agent.

It also involved in contracting and building works; general trading; trading of construction materials; research and sale of pharmaceutical products; and money lending businesses.

In addition, the company provides consultancy services; develops ports; services in relation to Malaysia My Second Home program; port operations, carrier haulage and transportation, and logistics; interior design, furnishing, and renovation works.

Further, it engages in operation of electricity generating facilities; and transmission, distribution, and sales of electricity, as well as construction of power plant. The company was formerly known as Jeram Kuantan (Malaya) Berhad and changed its name to Tanco Holdings Berhad in June 1997.

Tanco Holdings Berhad was incorporated in 1958 and is based in Puchong, Malaysia.

Stock analysis

Tanco Holdings Bhd (2429) currently trades at 0.1500 MYR, while our model-based Fair Value estimate is 0.0255 MYR, 83% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 0.0500 MYR per share, and 0 of the 5 models we run sit above the 0.1500 MYR price.

Bear case: the Multiples group reads lowest at 0.0100 MYR, and 5 of the 5 models stay below the price. Data coverage for this calculation is low.

Scenario range: 0.0255 MYR (bear) to 0.0340 MYR (bull), the price of 0.1500 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 23/100 (below-average quality), in the Real Estate sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Tanco Holdings Bhd reported revenue of 161M MYR in FY2026 versus 14.3M MYR in FY2022, a compound +83.0%/yr. Reported net income was 897K MYR in FY2026.

Key figures

Market cap 905M MYR (≈ $224M) Micro · P/S ratio 5.62 · Net margin 0.6% · Return on equity 1.1% · Return on assets (EBIT) 1.7% (5-year average) · Operating margin −3.0% · Revenue (TTM) 161M MYR · Revenue growth (YoY) +19.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (medium confidence).

What moves the price

The share trades about 91% below its 52-week high and 15% above its 52-week low.

For context, the median of 10 Real Estate peers we cover trades at −54% fair-value upside, at −83%, 2429 screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (0.0100 MYR to 0.1200 MYR). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 0.0255 MYR Fair Value 0.0255 MYR Bull 0.0340 MYR
Price 0.1500 MYR · Downside -83.0%
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. 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.
Best data coverage
Residual Income 0.0300 MYR 0.0300 MYR 0.0400 MYR 68
EV/EBITDA 0.0100 MYR 0.0100 MYR 0.0100 MYR 67
EV/EBIT n/a 0.0100 MYR 0.0100 MYR 62
All 5 models by family
Multiples
P/B Multiple 0.0900 MYR 0.1200 MYR 0.1500 MYR 55
EV/EBIT n/a 0.0100 MYR 0.0100 MYR 62
EV/EBITDA 0.0100 MYR 0.0100 MYR 0.0100 MYR 67
Asset-Based
NCAV (Graham) 0.0300 MYR 0.0500 MYR 0.0600 MYR 54
Economic Profit
Residual Income 0.0300 MYR 0.0300 MYR 0.0400 MYR 68

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 23/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 14
How much profit the company makes from its sales and capital
Quality Growth 41
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 56
Debt, balance sheet and risk of trouble
Investment 44
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 0
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year (last 3 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 3 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.
−73.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−73.1%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘ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.−255% → 5%

2429 screens overvalued: fair value 83% below the price. Compare with Swiss Prime Site AG →

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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.Real Estate - Diversified · 114 stocks

Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 23 · Bottom 25%
Fair Value upside −83.0% · Bottom 25%
Profitability
Return on equity (12 months) 1.1% · Bottom 25%
Return on assets 0.8% · Bottom 25%
Net margin (12 months) 2.6% · Bottom 25%
Operating margin (12 months) −3.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 19.5% · Top 25%
Balance sheet
Debt / equity 0.09× · Lowest 25%

Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper

P/B 2.44× · Priciest 25%
P/S (12 months) 26.40× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 37
FUTURE (revenue growth)98 · sector 5
PAST (return on equity)4 · sector 22
HEALTH (low debt)96 · sector 74
DIVIDEND (yield)0 · sector 64

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Real Estate - Diversified stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Singapore Land Group U06 2.74 SGD 3.18 SGD +16% vs 2429
Parque Arauco S.A PARAUCO 3,450 CLP 3,718 CLP +8% vs 2429
Frasers Property Limited TQ5 0.9100 SGD 0.9500 SGD +4% vs 2429
Umm Al Qura for Development and Construction Company 4325 16.23 SAR 15.41 SAR −5% vs 2429
The St. Joe Company JOE $75.13 $34.53 −54% vs 2429
Allreal Holding ALLN CHF 195.00 CHF 84.19 −57% vs 2429
Swiss Prime Site AG SPSN CHF 133.90 CHF 44.83 −67% vs 2429
Hainan Airport Infrastructure Co 600515 ¥2.64 ¥0.7900 −70% vs 2429
The Phoenix Mills Limited PHOENIXLTD ₹2,147 ₹405.24 −81% vs 2429
Prestige Estates Projects Limited PRESTIGE ₹1,598 ₹295.84 −81% vs 2429

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Tanco Holdings Bhd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Tanco Holdings Bhd Fair Value". https://www.fairvalue-calculator.com/stock/2429

Frequently asked questions

Is Tanco Holdings Bhd (2429) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 0.0255 MYR versus a price of 0.1500 MYR, about 83% lower (overvalued).
What is the fair value of 2429?
Our model-based fair value for Tanco Holdings Bhd is 0.0255 MYR (as of Nov 7, 2026), built from audited fundamentals. The current price: 0.1500 MYR.
What is the quality score of 2429?
Tanco Holdings Bhd has a Quality Score of 23/100. 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 Tanco Holdings Bhd (2429)?
Our model-based price target is the fair value of 0.0255 MYR (as of Nov 7, 2026) from 5 valuation models. Cautious scenario 0.0255 MYR, optimistic scenario 0.0340 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Tanco Holdings Bhd stock forecast for 2026?
Our models put fair value at 0.0255 MYR, about 83% lower versus a price of 0.1500 MYR (overvalued). Cautious scenario 0.0255 MYR, optimistic scenario 0.0340 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Tanco Holdings Bhd (2429)?
Tanco Holdings Bhd reported trailing-twelve-month revenue of about 161M MYR (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Tanco Holdings Bhd (2429)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tanco Holdings Bhd it is 0.0255 MYR per share (as of Nov 7, 2026), against a price of 0.1500 MYR. It is the blended result of 5 valuation models in 3 families (Multiples, Asset-Based, Economic Profit).
Is Tanco Holdings Bhd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 2429 trades above its calculated fair value: price 0.1500 MYR, fair value 0.0255 MYR, a gap of about −83% (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 2429?
No. The price is what the market pays today (0.1500 MYR); the fair value is what the company's own numbers justify (0.0255 MYR). For Tanco Holdings Bhd the two are 0.1245 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Tanco Holdings Bhd worth?
The market values Tanco Holdings Bhd at about 905M MYR (market capitalisation, as of Nov 7, 2026). Per share that is 0.1500 MYR; our models calculate a fair value of 0.0255 MYR per share.
What do the bullish and bearish scenarios say about 2429?
Our models span a range for Tanco Holdings Bhd: cautious scenario 0.0255 MYR, base 0.0255 MYR, optimistic 0.0340 MYR per share (as of Nov 7, 2026, price 0.1500 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tanco Holdings Bhd (2429)?
Balance-sheet figures for Tanco Holdings Bhd (as of Nov 7, 2026): return on equity 1.1%, debt of 0.09 per unit of equity. They feed the Quality Score of 23/100, which measures business quality independently of the share price.
How far is 2429 from its 52-week high?
Tanco Holdings Bhd trades at 0.1500 MYR, about 91% below its 52-week high of 1.76 MYR and 15% above the low of 0.1300 MYR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 0.0255 MYR is for.
Which stocks are comparable to Tanco Holdings Bhd?
From the same area (Real Estate) we also value Swiss Prime Site AG, The Phoenix Mills Limited, Prestige Estates Projects Limited, Umm Al Qura for Development and Construction Company, 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 Tanco Holdings Bhd stock attractive at the current price?
The data as of Nov 7, 2026: price 0.1500 MYR, calculated fair value 0.0255 MYR (−83%), Quality Score 23/100, from 5 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 2429 calculated?
We run Tanco Holdings Bhd through 5 models from 3 families: Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 0.0255 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 13.7% above its aggregate fair value. Tanco Holdings 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 Tanco Holdings Bhd (2429)?
The closing price on Nov 6, 2026 was 0.1500 MYR. Our model-based fair value is 0.0255 MYR, about 83% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tanco Holdings Bhd right now?
The price sits above even our optimistic bull case (0.0340 MYR). The favourable scenario is already priced in. Weak quality (23/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Tanco Holdings Bhd

How large is the market capitalisation of Tanco Holdings Bhd (2429)?
The market capitalisation of Tanco Holdings Bhd is 905M MYR (≈ $224M). 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 Tanco Holdings Bhd (2429)?
The price-to-sales ratio of Tanco Holdings Bhd is 5.62 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Tanco Holdings Bhd (2429)?
The net margin of Tanco Holdings Bhd is 0.6% (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 Tanco Holdings Bhd (2429)?
The return on equity (ROE) of Tanco Holdings Bhd is 1.1% (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 Tanco Holdings Bhd (2429)?
On an EBIT basis the return on assets of Tanco Holdings Bhd is 1.7% (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 Tanco Holdings Bhd (2429)?
The operating margin of Tanco Holdings Bhd is −3.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tanco Holdings Bhd (2429)?
Revenue at Tanco Holdings Bhd is growing +19.5% versus a year earlier (3y avg +19.7%). 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 Tanco Holdings Bhd (2429)?
Earnings per share at Tanco Holdings Bhd are growing −90.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tanco Holdings Bhd (2429) generate?
The free cash flow of Tanco Holdings Bhd is −35.1M MYR (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Tanco Holdings Bhd (2429) carry?
The net debt of Tanco Holdings Bhd is 35.7M MYR (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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