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WCE Holdings Bhd (3565) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of WCE Holdings Bhd stock MYR 0.52, price MYR 0.68, that is 23.2% below the price, quality 40 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Industrials MY · ISIN MYL3565OO008

WH WCE Holdings Bhd logo Thin data Nov 10, 2026

WCE Holdings Bhd

3565 · KLSE
Expensive, weak quality

Our calculation puts a fair price 23% below what the stock costs today.

Generates free cash flow
Quality 40/100
Mixed Growth (revenue 5y +17.5 %/yr in MYR)
Revenue last quarter 58% below a year ago.
Fair value 0.5223 MYR · Overvalued
Loss-making · -10.6% net margin (TTM)
High debt
Trails peers (1/11)
Narrow moat 28/100 · thin data
Thin data
Estimate⚠ Small free float
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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

1.14 MYR 0.2300 MYR Fair Value 0.5223 MYR Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range 0.2300 MYR – 1.14 MYR · fair‑value band 0.3917 MYR – 0.6528 MYR · the 0.6800 MYR price screens above the 0.5223 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

WCE Holdings Berhad, an investment holding company, engages in the construction, management, and tolling of highway operation in Malaysia. It operates through Toll Concession, Construction, and Others segments.

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The company designs, develops, and constructs the West Coast Expressway Project, as well as manages its toll operations; and offers construction contracting and project management services.

It also provides maintenance service for toll collection system, traffic control, and surveillance system; and leasing, maintenance, and ancillary services. The company was formerly known as Kumpulan Europlus Berhad and changed its name to WCE Holdings Berhad in September 2016.

WCE Holdings Berhad was incorporated in 2000 and is headquartered in Klang, Malaysia.

Stock analysis

WCE Holdings Bhd (3565) currently trades at 0.6800 MYR, while our estimate is 0.5223 MYR, 23% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: 0.3917 MYR (bear) to 0.6528 MYR (bull), the price of 0.6800 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 40/100 (below-average quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

WCE Holdings Bhd reported revenue of 840M MYR in FY2026 versus 607M MYR in FY2022, a compound +8.4%/yr. Reported net income was −89.3M MYR in FY2026.

Key figures

Market cap 2.2B MYR (≈ $551M) Small · P/S ratio 2.57 · EPS (TTM) −0.0300 MYR · Net margin −10.6% · Return on equity −6.3% · Return on assets (EBIT) 0.2% (5-year average) · Operating margin 18.5% · Revenue (TTM) 840M MYR.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).

What moves the price

The share trades about 7% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −23%, 3565 screens cheaper than that median.

Fair Value

Bear 0.3917 MYR Fair Value 0.5223 MYR Bull 0.6528 MYR
Price 0.6800 MYR · Downside -23.2%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 40/100

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

Profitability 4
How much profit the company makes from its sales and capital
Quality Growth 58
Are margins and returns getting better?
Cashflow 66
Do the profits arrive as real cash?
Financial strength 2
Debt, balance sheet and risk of trouble
Investment 90
Does it invest with discipline instead of growing at any price?
Low Volatility 85
How calm the share price moves, does not count
Price momentum 42
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 37
Distance to the 52-week high, does not count
New shares 32
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. 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+33.4%
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.
+18.3%
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.
+17.5%
Start year 2021 (pandemic). Over 10 years: +4.7% a year
Revenue growth 12 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.
+42.5%
Profit margin (trend) ⓘ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.
5.7% (2021) → 10.4% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+40.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +37.7% a year for the price.

3565 screens overvalued: fair value 23% below the price. Compare with Quanta Services, Inc →

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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.Engineering & Construction · 823 stocks

Beats the industry median on 1/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 40 · Below median
Fair Value upside −23.2% · Below median
Profitability
Return on assets −1.0% · Bottom 25%
Net margin (12 months) −10.6% · Bottom 25%
Operating margin (12 months) 18.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) −57.9% · Bottom 25%
Balance sheet
Debt / equity 5.10× · Highest 25%

Valuation Multiplesvs Engineering & Construction median · lower = cheaper

P/B 2.61× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 2.67× · Priciest 25%
Price / free cash flow (fiscal year) 25.4× · Pricier than median
EV/EBITDA 68.8× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)2 · sector 29
FUTURE (revenue growth)0 · sector 20
PAST (return on equity)0 · sector 25
HEALTH (low debt)0 · sector 94
DIVIDEND (yield)0 · sector 42

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
China State Construction Engineering Corporation 601668 ¥4.65 ¥13.95 +200% vs 3565
Vinci SA DG €114.75 €186.68 +63% vs 3565
Comfort Systems USA, Inc FIX $1,106 $1,122 +1% vs 3565
EMCOR Group EME $645.39 $524.14 −19% vs 3565
ACS, Actividades de Construcción y Servicios, S.A ACS €90.15 €62.21 −31% vs 3565
Samsung C&T Corporation 028260 279,000 KRW 159,702 KRW −43% vs 3565
HOCHTIEF Aktiengesellschaft HOT €366.00 €203.86 −44% vs 3565
Larsen & Toubro Limited LT ₹4,185 ₹2,302 −45% vs 3565
Ferrovial N.V FER $60.99 $23.22 −62% vs 3565
Quanta Services, Inc PWR $583.14 $162.41 −72% vs 3565

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WCE Holdings Bhd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "WCE Holdings Bhd Fair Value". https://www.fairvalue-calculator.com/stock/3565

Frequently asked questions

Is WCE Holdings Bhd (3565) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is 0.5223 MYR versus a price of 0.6800 MYR, about 23% lower (overvalued).
What is the fair value of 3565?
Our estimate for WCE Holdings Bhd is 0.5223 MYR (as of Nov 10, 2026), built from audited fundamentals. The current price: 0.6800 MYR.
What is the quality score of 3565?
WCE Holdings Bhd has a Quality Score of 40/100. 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 WCE Holdings Bhd (3565)?
Our calculated price target is the estimate of 0.5223 MYR (as of Nov 10, 2026). Cautious scenario 0.3917 MYR, optimistic scenario 0.6528 MYR. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the WCE Holdings Bhd stock forecast for 2026?
Our estimate puts fair value at 0.5223 MYR, about 23% lower versus a price of 0.6800 MYR (overvalued). Cautious scenario 0.3917 MYR, optimistic scenario 0.6528 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of WCE Holdings Bhd (3565)?
WCE Holdings Bhd reported trailing-twelve-month revenue of about 840M MYR (latest available figure, as of Nov 10, 2026).
What growth is priced into WCE Holdings Bhd (3565)?
For today's price to be fair in a discounted-cash-flow model, WCE Holdings Bhd would have to grow free cash flow by +40.4 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +17.5 % per year. As of Nov 10, 2026.
What discount rate (WACC) does the fair value of 3565 use?
Our models discount WCE Holdings Bhd at 11.9 %: a base by market capitalisation (small), damped by beta 0.79, 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 WCE Holdings Bhd that is +40.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has WCE Holdings Bhd (3565) delivered so far?
Over the past 5 years revenue at WCE Holdings Bhd grew +17.5 % a year. The price currently implies free-cash-flow growth of +40.4 % 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 WCE Holdings Bhd (3565) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into WCE Holdings Bhd (+40.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of WCE Holdings Bhd (3565)?
The free-cash-flow yield on the price is 3.94 %: that much free cash flow WCE Holdings Bhd produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of WCE Holdings Bhd (3565)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For WCE Holdings Bhd it is 0.5223 MYR per share (as of Nov 10, 2026), against a price of 0.6800 MYR.
Is WCE Holdings Bhd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 3565 trades above its calculated fair value: price 0.6800 MYR, fair value 0.5223 MYR, a gap of about −23% (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 3565?
No. The price is what the market pays today (0.6800 MYR); the fair value is what the company's own numbers justify (0.5223 MYR). For WCE Holdings Bhd the two are 0.1577 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is WCE Holdings Bhd worth?
The market values WCE Holdings Bhd at about 2.2B MYR (market capitalisation, as of Nov 10, 2026). Per share that is 0.6800 MYR; our models calculate a fair value of 0.5223 MYR per share.
What do the bullish and bearish scenarios say about 3565?
Our models span a range for WCE Holdings Bhd: cautious scenario 0.3917 MYR, base 0.5223 MYR, optimistic 0.6528 MYR per share (as of Nov 10, 2026, price 0.6800 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of WCE Holdings Bhd (3565)?
Balance-sheet figures for WCE Holdings Bhd (as of Nov 10, 2026): return on equity −6.3%, debt of 5.10 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is 3565 from its 52-week high?
WCE Holdings Bhd trades at 0.6800 MYR, about 7% below its 52-week high of 0.7350 MYR and 6% above the low of 0.6400 MYR (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 0.5223 MYR is for.
Which stocks are comparable to WCE Holdings Bhd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, 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 WCE Holdings Bhd stock attractive at the current price?
The data as of Nov 10, 2026: price 0.6800 MYR, calculated fair value 0.5223 MYR (−23%), Quality Score 40/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. WCE 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 WCE Holdings Bhd (3565)?
The closing price on Nov 10, 2026 was 0.6800 MYR. Our estimate is 0.5223 MYR, about 23% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with WCE Holdings Bhd right now?
The price sits above even our optimistic bull case (0.6528 MYR). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of WCE Holdings Bhd

How large is the market capitalisation of WCE Holdings Bhd (3565)?
The market capitalisation of WCE Holdings Bhd is 2.2B MYR (≈ $551M). 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 WCE Holdings Bhd (3565)?
The price-to-sales ratio of WCE Holdings Bhd is 2.57 (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 WCE Holdings Bhd (3565)?
Earnings per share at WCE Holdings Bhd are −0.0300 MYR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of WCE Holdings Bhd (3565)?
The net margin of WCE Holdings Bhd is −10.6% (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 WCE Holdings Bhd (3565)?
The return on equity (ROE) of WCE Holdings Bhd is −6.3% (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 WCE Holdings Bhd (3565)?
On an EBIT basis the return on assets of WCE Holdings Bhd is 0.2% (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 WCE Holdings Bhd (3565)?
The operating margin of WCE Holdings Bhd is 18.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at WCE Holdings Bhd (3565)?
Revenue at WCE Holdings Bhd is growing −57.9% versus a year earlier (3y avg +18.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does WCE Holdings Bhd (3565) carry?
The net debt of WCE Holdings Bhd is 4.9B MYR (fiscal year 2026, ≈ 55.0 yrs of FCF). 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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