Icon Offshore Bhd (5255) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Icon Offshore Bhd stock MYR 0.82, price MYR 1.48, that is 44.3% below the price, quality 39 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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Icon Offshore Bhd
5255 · KLSEOur calculation puts a fair price 44% below what the stock costs today.
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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 0.1977 MYR – 2.19 MYR · fair‑value band 0.5950 MYR – 1.06 MYR · the 1.48 MYR price screens above the 0.8245 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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Company profile
Lianson Fleet Group Berhad, an investment holding company, provides vessel chartering, ship management, and offshore marine services to the oil and gas related industries in Malaysia, Singapore, Vietnam and Brunei.
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The company offers in-field support that offers ample deck space and offshore construction activities. It also provides anchor handling and towing functions; and serves as a safety standby rescue and firefighting vessels for oil spill response and recovery efforts.
In addition, the company operates various types of vessels, including anchor handling tug and supply, accommodation workboat, straight supply, and platform supply vessels, as well as tugs and barges, and dry bulk carriers. Further, it owns, leases, and operates vessels; and offers well services.
The company was formerly known as Icon Offshore Berhad and changed its name to Lianson Fleet Group Berhad in January 2025. The company was founded in 1994 and is headquartered in Kuala Lumpur, Malaysia.
Stock analysis
Icon Offshore Bhd (5255) currently trades at 1.48 MYR, while our model-based Fair Value estimate is 0.8245 MYR, 44% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 1.17 MYR per share, and 1 of the 16 models we run sit above the 1.48 MYR price.
Bear case: the Dividend Discount group reads lowest at 0.2600 MYR, and 15 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.5950 MYR (bear) to 1.06 MYR (bull), the price of 1.48 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 39/100 (below-average quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Icon Offshore Bhd reported revenue of 290M MYR in FY2025 versus 301M MYR in FY2021, a compound −0.9%/yr. Reported net income was 100M MYR in FY2025, compounding +45.0%/yr from FY2021.
Key figures
Market cap 1.8B MYR (≈ $437M) Small · P/E ratio 13.5 · P/S ratio 5.76 · EPS (TTM) 0.1100 MYR · Dividend yield 2.7% · Net margin 37.2% · Return on equity 14.3% · Return on assets (EBIT) 6.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 75 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −32% fair-value upside, at −44%, 5255 screens richer than that median.
Fair Value models
All 16 models by family
The fair value above starts from this blend and is adjusted for dilution from new shares.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
5255 screens overvalued: fair value 44% below the price. Compare with SLB N.V →
Compare Icon Offshore Bhd with another stock
Price, fair value, quality and upside side by side.
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.Oil & Gas Equipment & Services · 166 stocks
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Energy sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/S ratio by industry
- EBIT margin by industry
- Stock screener with 62 metrics
- Undervalued stocks: Energy
- Valuation of the Malaysia market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Gaztransport & Technigaz SA GTT | €181.30 | €199.62 | +10% | vs 5255 |
| Yantai Jereh Oilfield Services Group 002353 | ¥79.44 | ¥87.38 | +10% | vs 5255 |
| China Oilfield Services Limited 601808 | ¥12.75 | ¥13.04 | +2% | vs 5255 |
| Subsea 7 S.A SUBC | kr 304.80 | kr 257.37 | −16% | vs 5255 |
| Halliburton Company HAL | $31.84 | $21.72 | −32% | vs 5255 |
| Baker Hughes Company BKR | $47.87 | $32.37 | −32% | vs 5255 |
| Tenaris S.A TEN | €26.64 | €17.68 | −34% | vs 5255 |
| Saipem SpA SPM | €4.24 | €2.72 | −36% | vs 5255 |
| SLB N.V SLB | $49.92 | $29.03 | −42% | vs 5255 |
| TechnipFMC plc FTI | $63.52 | $28.12 | −56% | vs 5255 |
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Key figures of Icon Offshore Bhd
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