Tadmax Resources Berhad (4022) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Tadmax Resources Berhad stock MYR 0.59, price MYR 0.26, upside +126.9%, quality 48 out of 100. Rating: strongly undervalued. Calculated from audited financials with 7 of our 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 9, 2026.
How to read this chart
60‑month range 0.2450 MYR – 0.5188 MYR · fair‑value band 0.5800 MYR – 0.6400 MYR · the 0.2600 MYR price screens below the 0.5900 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Maxim Global Berhad engages in the property development and construction businesses in Malaysia. The company develops units of homes, apartments and terrace houses, and condominiums and service apartments.
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It also engages in property investment activities; money lending business; timber, oil palm plantation, and palm oil trading; and provision of management services, as well as operates as a general contractor. Maxim Global Berhad was incorporated in 1968 and is based in Petaling Jaya, Malaysia.
Stock analysis
Tadmax Resources Berhad (4022) currently trades at 0.2600 MYR, while our model-based Fair Value estimate is 0.5900 MYR, implying the stock looks roughly 56% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 0.7700 MYR per share, and 7 of the 7 models we run sit above the 0.2600 MYR price.
Bear case: the Economic Profit group reads lowest at 0.5900 MYR, and 0 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.5800 MYR (bear) to 0.6400 MYR (bull), the price of 0.2600 MYR sits below 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 48/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Tadmax Resources Berhad reported revenue of 444M MYR in FY2025 versus 364M MYR in FY2021, a compound +5.1%/yr. Reported net income was 33.4M MYR in FY2025, compounding +4.4%/yr from FY2021.
Key figures
Market cap 191M MYR (≈ $47.1M) Micro · P/E ratio 8.7 · P/S ratio 0.46 · EPS (TTM) 0.0300 MYR · Net margin 5.8% · Return on equity 6.5% · Return on assets (EBIT) 4.7% (5-year average) · Operating margin 12.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 33% fair-value upside, at 127%, 4022 screens cheaper than that median.
Fair Value models
Bear0.5800 MYRFair Value 0.5900 MYRBull0.6400 MYR
Price 0.2600 MYR · Upside +126.9%
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 (0.0257 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.22/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+34.5%
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.
+8.0%
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.
+2.6%
Start year 2020 (pandemic). Over 10 years: +42.3% 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.
+31.2%
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What shareholders gained per year (last 5 years), in MYR (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+8.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.5%
Dividend (yield on the price)0.0%
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.−3.5% vs −15.7%, 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.−15% → 19%
2025 sits 71% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Tadmax Resources Berhad with another stock
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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 - Development · 489 stocks
Beats the industry median on 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside+126.9% · Top 25%
Profitability
Return on equity (12 months)6.5% · Above median
Return on assets4.6% · Top 25%
Net margin (12 months)9.6% · Above median
Operating margin (12 months)12.6% · Above median
Growth and dividend
Revenue growth (quarter YoY)2.2% · Above median
Balance sheet
Debt / equity0.65× · Above median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
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Is Tadmax Resources Berhad (4022) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 0.5900 MYR versus a price of 0.2600 MYR, about +127% upside (undervalued).
What is the fair value of 4022?
Our model-based fair value for Tadmax Resources Berhad is 0.5900 MYR (as of Nov 9, 2026), built from audited fundamentals. The current price: 0.2600 MYR.
What is the quality score of 4022?
Tadmax Resources Berhad has a Quality Score of 48/100. 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 Tadmax Resources Berhad (4022)?
Our model-based price target is the fair value of 0.5900 MYR (as of Nov 9, 2026) from 7 valuation models. Cautious scenario 0.5800 MYR, optimistic scenario 0.6400 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Tadmax Resources Berhad stock forecast for 2026?
Our models put fair value at 0.5900 MYR, about +127% upside versus a price of 0.2600 MYR (undervalued). Cautious scenario 0.5800 MYR, optimistic scenario 0.6400 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Tadmax Resources Berhad (4022)?
Tadmax Resources Berhad reported trailing-twelve-month revenue of about 419M MYR (latest available figure, as of Nov 9, 2026).
What is the intrinsic value of Tadmax Resources Berhad (4022)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tadmax Resources Berhad it is 0.5900 MYR per share (as of Nov 9, 2026), against a price of 0.2600 MYR. It is the blended result of 7 valuation models in 3 families (Multiples, Asset-Based, Economic Profit).
Is Tadmax Resources Berhad stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 4022 trades below its calculated fair value: price 0.2600 MYR, fair value 0.5900 MYR, a gap of about +127% (undervalued). 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 4022?
No. The price is what the market pays today (0.2600 MYR); the fair value is what the company's own numbers justify (0.5900 MYR). For Tadmax Resources Berhad the two are 0.3300 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Tadmax Resources Berhad worth?
The market values Tadmax Resources Berhad at about 191M MYR (market capitalisation, as of Nov 9, 2026). Per share that is 0.2600 MYR; our models calculate a fair value of 0.5900 MYR per share.
What do the bullish and bearish scenarios say about 4022?
Our models span a range for Tadmax Resources Berhad: cautious scenario 0.5800 MYR, base 0.5900 MYR, optimistic 0.6400 MYR per share (as of Nov 9, 2026, price 0.2600 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4022?
Tadmax Resources Berhad trades at a price-to-earnings ratio of 8.7 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.5900 MYR is built from several models across several years. Other multiples: P/B 0.4, P/S 0.8, EV/EBITDA 11.8.
How solid is the balance sheet of Tadmax Resources Berhad (4022)?
Balance-sheet figures for Tadmax Resources Berhad (as of Nov 9, 2026): return on equity 6.5%, debt of 0.65 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 4022 from its 52-week high?
Tadmax Resources Berhad trades at 0.2600 MYR, about 32% below its 52-week high of 0.3800 MYR and 6% above the low of 0.2450 MYR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 0.5900 MYR is for.
Which stocks are comparable to Tadmax Resources Berhad?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, DLF Limited, 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 Tadmax Resources Berhad stock attractive at the current price?
The data as of Nov 9, 2026: price 0.2600 MYR, calculated fair value 0.5900 MYR (+127%), Quality Score 48/100, from 7 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 4022 calculated?
We run Tadmax Resources Berhad through 7 models from 3 families: Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 0.5900 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. Tadmax Resources Berhad currently trades 56% below its own fair value, and the market average says nothing about that. 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 Tadmax Resources Berhad (4022)?
The closing price on Nov 6, 2026 was 0.2600 MYR. Our model-based fair value is 0.5900 MYR, about +127% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tadmax Resources Berhad right now?
The large discount to fair value meets weak quality (48/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (0.5800 MYR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. The models converge in a tight band (0.5800 MYR to 0.6400 MYR), unusually little disagreement for a valuation.
Key figures of Tadmax Resources Berhad
How large is the market capitalisation of Tadmax Resources Berhad (4022)?
The market capitalisation of Tadmax Resources Berhad is 191M MYR (≈ $47.1M). 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 Tadmax Resources Berhad (4022)?
The price-to-sales ratio of Tadmax Resources Berhad is 0.46 (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 Tadmax Resources Berhad (4022)?
Earnings per share at Tadmax Resources Berhad are 0.0300 MYR (price ÷ EPS = P/E 8.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Tadmax Resources Berhad (4022)?
The net margin of Tadmax Resources Berhad is 5.8% (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 Tadmax Resources Berhad (4022)?
The return on equity (ROE) of Tadmax Resources Berhad is 6.5% (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 Tadmax Resources Berhad (4022)?
On an EBIT basis the return on assets of Tadmax Resources Berhad is 4.7% (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 Tadmax Resources Berhad (4022)?
The operating margin of Tadmax Resources Berhad is 12.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tadmax Resources Berhad (4022)?
Revenue at Tadmax Resources Berhad is growing +2.2% versus a year earlier (3y avg +8.0%). 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 Tadmax Resources Berhad (4022)?
Earnings per share at Tadmax Resources Berhad are growing −50.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tadmax Resources Berhad (4022) generate?
The free cash flow of Tadmax Resources Berhad is −77.2M MYR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Tadmax Resources Berhad (4022) carry?
The net debt of Tadmax Resources Berhad is 313M MYR (fiscal year 2025). 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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Thin data
Nov 9, 2026