I-Berhad (4251) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of I-Berhad stock MYR 0.45, price MYR 0.20, upside +125.0%, quality 57 out of 100. Rating: strongly undervalued. Calculated from audited financials with 16 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 7, 2026.
How to read this chart
60‑month range 0.1900 MYR – 0.3550 MYR · fair‑value band 0.2000 MYR – 0.4800 MYR · the 0.2000 MYR price screens below the 0.4500 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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I-Berhad, an investment holding company, engages in the property investment and development activities in Malaysia. It operates through Property Development, Property Investment, Leisure and Hospitality, and Other segments.
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The company develops and sells residential and commercial properties; invests in and holds properties; and promotes, markets, and manages events, leisure, hotel, and other tourism related activities.
It also contracts for construction works; owns land and property; provides managed network, telephony, and advisory services; and develops and manages i-City, Shah Alam as a MSC Malaysia Cybercentre.
In addition, the company is involved in the money lending and property management activities; retails wireless technology, and information and communication technology products; operates as a travel agent, advertising agent, advertiser, and advertising contractor; and operates co-working space, event venue, and related services, as well as café, coffee house, and food and beverages retail outlet.
Further, it provides AI-enabled development services; recurring income and infrastructure; leisure and hospitality; and AI city platform services. The company was formerly known as Sanyo Industries (Malaysia) Sdn Bhd and changed its name to I-Berhad in 1999.
I-Berhad was incorporated in 1967 and is based in Shah Alam, Malaysia. I-Berhad is a subsidiary of Sumurwang Sdn Bhd.
Stock analysis
I-Berhad (4251) currently trades at 0.2000 MYR, while our model-based Fair Value estimate is 0.4500 MYR, implying the stock looks roughly 56% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 0.5200 MYR per share, and 12 of the 16 models we run sit above the 0.2000 MYR price.
Bear case: the Dividend Discount group reads lowest at 0.0550 MYR, and 4 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.2000 MYR (bear) to 0.4800 MYR (bull), the price of 0.2000 MYR sits inside 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 57/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
I-Berhad reported revenue of 323M MYR in FY2025 versus 80.2M MYR in FY2021, a compound +41.6%/yr. Reported net income was 55.7M MYR in FY2025, compounding +250.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 371M MYR (≈ $91.5M) Micro · P/E ratio 6.7 · P/S ratio 1.28 · EPS (TTM) 0.0300 MYR · Dividend yield 4.5% · Net margin 18.8% · Return on equity 4.1% · Return on assets (EBIT) 1.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 5% 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 125%, 4251 screens cheaper than that median.
Fair Value models
Bear0.2000 MYRFair Value 0.4500 MYRBull0.4800 MYR
Price 0.2000 MYR · Upside +125.0%
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 (0.0180 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.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+45.2%
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.
+39.2%
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.
+32.1%
Start year 2020 (pandemic). Over 10 years: +2.3% a year
Revenue growth 13 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.
+12.9%
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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.
≈ +95.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +91.0%
Dividend (yield on the price)4.5%
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.base effect: 82.3% / −4.8%
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.−14% → 25%
2025 sits 105% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Revenue per share shrinking 13.5%/yr over ~8Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.001 per share, median 0.060 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
Growth Forecast
Little optimism in the price
The price assumes less 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).
+21.5%
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 +19.2% a year for the price.
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.Real Estate - Development · 489 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+125.0% · Above median
Profitability
Return on equity (12 months)4.1% · Below median
Return on assets2.9% · Above median
Net margin (12 months)18.8% · Above median
Operating margin (12 months)19.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)−22.1% · Below median
Dividend yield (12 months)4.5% · Above median
Balance sheet
Debt / equity0.18× · Below median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
P/E (12 months)6.7× · Cheaper than median
P/B0.28× · Cheapest 25%
P/S (12 months)1.28× · Cheaper than median
Price / free cash flow (fiscal year)16.2× · Pricier than median
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). "I-Berhad Fair Value". https://www.fairvalue-calculator.com/stock/4251
Frequently asked questions
Is I-Berhad (4251) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 0.4500 MYR versus a price of 0.2000 MYR, about +125% upside (undervalued).
What is the fair value of 4251?
Our model-based fair value for I-Berhad is 0.4500 MYR (as of Nov 7, 2026), built from audited fundamentals. The current price: 0.2000 MYR.
What is the quality score of 4251?
I-Berhad has a Quality Score of 57/100. 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 I-Berhad (4251)?
Our model-based price target is the fair value of 0.4500 MYR (as of Nov 7, 2026) from 16 valuation models. Cautious scenario 0.2000 MYR, optimistic scenario 0.4800 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the I-Berhad stock forecast for 2026?
Our models put fair value at 0.4500 MYR, about +125% upside versus a price of 0.2000 MYR (undervalued). Cautious scenario 0.2000 MYR, optimistic scenario 0.4800 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of I-Berhad (4251)?
I-Berhad reported trailing-twelve-month revenue of about 291M MYR (latest available figure, as of Nov 7, 2026).
Does I-Berhad pay a dividend?
I-Berhad currently shows a dividend yield of 4.50% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of I-Berhad (4251) and when is the ex-dividend date?
I-Berhad pays a dividend of 0.009 MYR per share a year, a dividend yield of 4.5%. The last ex-dividend date was Aug 28, 2026. The payout ratio is 30.0% of earnings. Free cash flow covers the dividend 1.38 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 I-Berhad (4251)?
For today's price to be fair in a discounted-cash-flow model, I-Berhad would have to grow free cash flow by +21.5 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +32.1 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 4251 use?
Our models discount I-Berhad at 12.6 %: a base by market capitalisation (micro), damped by beta 0.22, 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 I-Berhad that is +21.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has I-Berhad (4251) delivered so far?
Over the past 5 years revenue at I-Berhad grew +32.1 % a year. The price currently implies free-cash-flow growth of +21.5 % 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 I-Berhad (4251) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into I-Berhad (+21.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of I-Berhad (4251)?
The free-cash-flow yield on the price is 6.19 %: that much free cash flow I-Berhad produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of I-Berhad (4251)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For I-Berhad it is 0.4500 MYR per share (as of Nov 7, 2026), against a price of 0.2000 MYR. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is I-Berhad stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 4251 trades below its calculated fair value: price 0.2000 MYR, fair value 0.4500 MYR, a gap of about +125% (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 4251?
No. The price is what the market pays today (0.2000 MYR); the fair value is what the company's own numbers justify (0.4500 MYR). For I-Berhad the two are 0.2500 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is I-Berhad worth?
The market values I-Berhad at about 371M MYR (market capitalisation, as of Nov 7, 2026). Per share that is 0.2000 MYR; our models calculate a fair value of 0.4500 MYR per share.
What do the bullish and bearish scenarios say about 4251?
Our models span a range for I-Berhad: cautious scenario 0.2000 MYR, base 0.4500 MYR, optimistic 0.4800 MYR per share (as of Nov 7, 2026, price 0.2000 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4251?
I-Berhad trades at a price-to-earnings ratio of 6.7 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.4500 MYR is built from several models across several years. Other multiples: P/B 0.3, P/S 1.3, EV/EBITDA 9.2.
How solid is the balance sheet of I-Berhad (4251)?
Balance-sheet figures for I-Berhad (as of Nov 7, 2026): return on equity 4.1%, debt of 0.18 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 4251 from its 52-week high?
I-Berhad trades at 0.2000 MYR, about 38% below its 52-week high of 0.3200 MYR and 5% above the low of 0.1900 MYR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 0.4500 MYR is for.
Which stocks are comparable to I-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 I-Berhad stock attractive at the current price?
The data as of Nov 7, 2026: price 0.2000 MYR, calculated fair value 0.4500 MYR (+125%), Quality Score 57/100, from 16 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 4251 calculated?
We run I-Berhad through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 0.4500 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. I-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 I-Berhad (4251)?
The closing price on Nov 6, 2026 was 0.2000 MYR. Our model-based fair value is 0.4500 MYR, about +125% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with I-Berhad right now?
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 quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (0.2000 MYR to 0.4800 MYR) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of I-Berhad
How large is the market capitalisation of I-Berhad (4251)?
The market capitalisation of I-Berhad is 371M MYR (≈ $91.5M). 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 I-Berhad (4251)?
The price-to-sales ratio of I-Berhad is 1.28 (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 I-Berhad (4251)?
Earnings per share at I-Berhad are 0.0300 MYR (price ÷ EPS = P/E 6.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of I-Berhad (4251)?
The dividend yield of I-Berhad is 4.5% (payout 30.0%). 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 I-Berhad (4251)?
The net margin of I-Berhad is 18.8% (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 I-Berhad (4251)?
The return on equity (ROE) of I-Berhad is 4.1% (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 I-Berhad (4251)?
On an EBIT basis the return on assets of I-Berhad is 1.5% (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 I-Berhad (4251)?
The operating margin of I-Berhad is 19.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at I-Berhad (4251)?
Revenue at I-Berhad is growing −22.1% versus a year earlier (3y avg +39.2%). 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 I-Berhad (4251)?
Earnings per share at I-Berhad are growing +1.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does I-Berhad (4251) carry?
The net debt of I-Berhad is 276M MYR (fiscal year 2025, ≈ 12.0 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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Thin data
Nov 7, 2026