Hap Seng Plantations Holdings Bhd (5138) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Hap Seng Plantations Holdings Bhd stock MYR 2.89, price MYR 2.23, upside +29.6%, quality 63 out of 100. Rating: undervalued. Calculated from audited financials with 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 5, 2026.
How to read this chart
60‑month range 1.38 MYR – 2.77 MYR · fair‑value band 2.21 MYR – 3.76 MYR · the 2.23 MYR price screens below the 2.89 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Hap Seng Plantations Holdings Berhad, an investment holding company, operates as an oil palm plantation company in Malaysia.
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The company engages in the cultivation of oil palm; harvests and processes fresh fruit bunches (FFB) into crude palm oil (CPO). The company was founded in 1946 and is based in Kuala Lumpur, Malaysia. Hap Seng Plantations Holdings Berhad is a subsidiary of Hap Seng Consolidated Berhad.
Stock analysis
Hap Seng Plantations Holdings Bhd (5138) currently trades at 2.23 MYR, while our model-based Fair Value estimate is 2.89 MYR, implying the stock looks roughly 23% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 3.05 MYR per share, and 13 of the 26 models we run sit above the 2.23 MYR price.
Bear case: the Asset-Based group reads lowest at 0.4800 MYR, and 13 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 2.21 MYR (bear) to 3.76 MYR (bull), the price of 2.23 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 63/100 (solid quality), in the Consumer Defensive sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Hap Seng Plantations Holdings Bhd reported revenue of 702M MYR in FY2025 versus 671M MYR in FY2021, a compound +1.2%/yr. Reported net income was 125M MYR in FY2025, compounding −13.6%/yr from FY2021.
Key figures
Market cap 1.8B MYR (≈ $439M) Small · P/E ratio 13.9 · P/S ratio 2.34 · EPS (TTM) 0.1600 MYR · Dividend yield 3.6% · Net margin 17.4% · Return on equity 6.3% · Return on assets (EBIT) 9.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 10% fair-value upside, at 30%, 5138 screens cheaper than that median.
Fair Value models
Bear2.21 MYRFair Value 2.89 MYRBull3.76 MYR
Price 2.23 MYR · Upside +29.6%
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 (0.0677 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
−6.7%
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.
−4.8%
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.
+8.5%
Start year 2020 (pandemic). Over 10 years: +4.9% 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.
+4.7%
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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.
+10.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.7%
Dividend (yield on the price)3.6%
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.6.7% vs 0.1%, 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.24% → 24%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−9.0%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+6.4%
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 −10.8% a year for the price and +4.3% for the forecasts.
Compare Hap Seng Plantations Holdings Bhd with another stock
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.Farm Products · 291 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+29.6% · Above median
Profitability
Return on equity (12 months)6.3% · Above median
Return on assets4.7% · Above median
Net margin (12 months)17.4% · Top 25%
Operating margin (12 months)26.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)29.2% · Top 25%
Dividend yield (12 months)3.6% · Above median
Valuation Multiplesvs Farm Products median · lower = cheaper
P/E (12 months)13.9× · Pricier than median
P/B0.84× · Cheaper than median
P/S (12 months)2.34× · Priciest 25%
Price / free cash flow (fiscal year)9.2× · Cheaper 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). "Hap Seng Plantations Holdings Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5138
Frequently asked questions
Is Hap Seng Plantations Holdings Bhd (5138) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 2.89 MYR versus a price of 2.23 MYR, about +30% upside (undervalued).
What is the fair value of 5138?
Our model-based fair value for Hap Seng Plantations Holdings Bhd is 2.89 MYR (as of Nov 5, 2026), built from audited fundamentals. The current price: 2.23 MYR.
What is the quality score of 5138?
Hap Seng Plantations Holdings Bhd has a Quality Score of 63/100. 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 Hap Seng Plantations Holdings Bhd (5138)?
Our model-based price target is the fair value of 2.89 MYR (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 2.21 MYR, optimistic scenario 3.76 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Hap Seng Plantations Holdings Bhd stock forecast for 2026?
Our models put fair value at 2.89 MYR, about +30% upside versus a price of 2.23 MYR (undervalued). Cautious scenario 2.21 MYR, optimistic scenario 3.76 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Hap Seng Plantations Holdings Bhd (5138)?
Hap Seng Plantations Holdings Bhd reported trailing-twelve-month revenue of about 761M MYR (latest available figure, as of Nov 5, 2026).
Does Hap Seng Plantations Holdings Bhd pay a dividend?
Hap Seng Plantations Holdings Bhd currently shows a dividend yield of 3.63% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Hap Seng Plantations Holdings Bhd (5138) and when is the ex-dividend date?
Hap Seng Plantations Holdings Bhd pays a dividend of 0.081 MYR per share a year, a dividend yield of 3.6%. The last ex-dividend date was Sep 9, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 50.6% of earnings. Free cash flow covers the dividend 2.98 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 Hap Seng Plantations Holdings Bhd (5138)?
For today's price to be fair in a discounted-cash-flow model, Hap Seng Plantations Holdings Bhd would have to grow free cash flow by -9.0 % 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 +8.5 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 5138 use?
Our models discount Hap Seng Plantations Holdings Bhd at 12.6 %: a base by market capitalisation (small), 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 Hap Seng Plantations Holdings Bhd that is -9.0 % 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 Hap Seng Plantations Holdings Bhd (5138) delivered so far?
Over the past 5 years revenue at Hap Seng Plantations Holdings Bhd grew +8.5 % a year. The price currently implies free-cash-flow growth of -9.0 % 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 Hap Seng Plantations Holdings Bhd (5138) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Hap Seng Plantations Holdings Bhd (-9.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hap Seng Plantations Holdings Bhd (5138)?
The free-cash-flow yield on the price is 10.83 %: that much free cash flow Hap Seng Plantations Holdings Bhd 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 Hap Seng Plantations Holdings Bhd (5138)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hap Seng Plantations Holdings Bhd it is 2.89 MYR per share (as of Nov 5, 2026), against a price of 2.23 MYR. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Hap Seng Plantations Holdings Bhd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 5138 trades below its calculated fair value: price 2.23 MYR, fair value 2.89 MYR, a gap of about +30% (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 5138?
No. The price is what the market pays today (2.23 MYR); the fair value is what the company's own numbers justify (2.89 MYR). For Hap Seng Plantations Holdings Bhd the two are 0.6600 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Hap Seng Plantations Holdings Bhd worth?
The market values Hap Seng Plantations Holdings Bhd at about 1.8B MYR (market capitalisation, as of Nov 5, 2026). Per share that is 2.23 MYR; our models calculate a fair value of 2.89 MYR per share.
What do the bullish and bearish scenarios say about 5138?
Our models span a range for Hap Seng Plantations Holdings Bhd: cautious scenario 2.21 MYR, base 2.89 MYR, optimistic 3.76 MYR per share (as of Nov 5, 2026, price 2.23 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5138?
Hap Seng Plantations Holdings Bhd trades at a price-to-earnings ratio of 13.9 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2.89 MYR is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 15.1. Other multiples: PEG 0.9, P/B 0.8, P/S 2.3, EV/EBITDA 6.1.
What is the PEG ratio of 5138?
The PEG ratio of Hap Seng Plantations Holdings Bhd is 0.88 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Hap Seng Plantations Holdings Bhd (5138)?
Balance-sheet figures for Hap Seng Plantations Holdings Bhd (as of Nov 5, 2026): return on equity 6.3%. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 5138 from its 52-week high?
Hap Seng Plantations Holdings Bhd trades at 2.23 MYR, about 16% below its 52-week high of 2.64 MYR and 16% above the low of 1.93 MYR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 2.89 MYR is for.
Which stocks are comparable to Hap Seng Plantations Holdings Bhd?
From the same area (Consumer Defensive) we also value Muyuan Foods Group, Archer-Daniels-Midland Company, Tyson Foods, Inc, Bunge Global SA, 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 Hap Seng Plantations Holdings Bhd stock attractive at the current price?
The data as of Nov 5, 2026: price 2.23 MYR, calculated fair value 2.89 MYR (+30%), Quality Score 63/100, from 26 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 5138 calculated?
We run Hap Seng Plantations Holdings Bhd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 2.89 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. Hap Seng Plantations Holdings Bhd currently trades 23% 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 Hap Seng Plantations Holdings Bhd (5138)?
The closing price on Nov 6, 2026 was 2.23 MYR. Our model-based fair value is 2.89 MYR, about +30% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hap Seng Plantations Holdings Bhd right now?
Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Hap Seng Plantations Holdings Bhd (5138) come from?
Earnings per share at Hap Seng Plantations Holdings Bhd grew +2.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.5 %, EBIT margin −2.2 %, tax rate +0.2 %, residual (interest, one-offs) −0.2 %. 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 Hap Seng Plantations Holdings Bhd
How large is the market capitalisation of Hap Seng Plantations Holdings Bhd (5138)?
The market capitalisation of Hap Seng Plantations Holdings Bhd is 1.8B MYR (≈ $439M). 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 Hap Seng Plantations Holdings Bhd (5138)?
The price-to-sales ratio of Hap Seng Plantations Holdings Bhd is 2.34 (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 Hap Seng Plantations Holdings Bhd (5138)?
Earnings per share at Hap Seng Plantations Holdings Bhd are 0.1600 MYR (price ÷ EPS = P/E 13.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hap Seng Plantations Holdings Bhd (5138)?
The dividend yield of Hap Seng Plantations Holdings Bhd is 3.6% (payout 50.6%). 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 Hap Seng Plantations Holdings Bhd (5138)?
The net margin of Hap Seng Plantations Holdings Bhd is 17.4% (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 Hap Seng Plantations Holdings Bhd (5138)?
The return on equity (ROE) of Hap Seng Plantations 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 Hap Seng Plantations Holdings Bhd (5138)?
On an EBIT basis the return on assets of Hap Seng Plantations Holdings Bhd is 9.0% (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 Hap Seng Plantations Holdings Bhd (5138)?
The operating margin of Hap Seng Plantations Holdings Bhd is 26.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hap Seng Plantations Holdings Bhd (5138)?
Revenue at Hap Seng Plantations Holdings Bhd is growing +29.2% versus a year earlier (3y avg −4.8%). 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 Hap Seng Plantations Holdings Bhd (5138)?
Earnings per share at Hap Seng Plantations Holdings Bhd are growing +100% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Hap Seng Plantations Holdings Bhd (5138) hold?
Hap Seng Plantations Holdings Bhd holds more cash than debt, 77.6M MYR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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