Azam Jaya Berhad (5329) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Azam Jaya Berhad stock MYR 0.35, price MYR 0.96, that is 63.4% below the price, quality 42 out of 100. Rating: strongly overvalued. Calculated from audited financials with 23 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 6, 2026.
How to read this chart
24‑month range 0.7914 MYR – 1.25 MYR · fair‑value band 0.2500 MYR – 0.5000 MYR · the 0.9550 MYR price screens above the 0.3500 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Azam Jaya Berhad, an investment holding company, provides construction services in Malaysia. It specializes in the construction of road infrastructure, including roads, highways, bridges, flyovers, and tunnels.
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The company also constructs motorways, streets, roads, and other vehicular and pedestrian ways. The company was founded in 1992 and is based in Kuala Lumpur, Malaysia.
Stock analysis
Azam Jaya Berhad (5329) currently trades at 0.9550 MYR, while our model-based Fair Value estimate is 0.3500 MYR, 63% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 0.6450 MYR per share, and 1 of the 23 models we run sit above the 0.9550 MYR price.
Bear case: the Dividend Discount group reads lowest at 0.0350 MYR, and 22 of the 23 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.2500 MYR (bear) to 0.5000 MYR (bull), the price of 0.9550 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 42/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Azam Jaya Berhad reported revenue of 209M MYR in FY2025 versus 231M MYR in FY2021, a compound −2.6%/yr. Reported net income was 12.6M MYR in FY2025, compounding −22.0%/yr from FY2021.
Key figures
Market cap 478M MYR (≈ $118M) Micro · P/E ratio 95.5 · P/S ratio 1.93 · EPS (TTM) 0.0100 MYR · Dividend yield 0.5% · Net margin 2.7% · Return on equity 4.1% · Return on assets (EBIT) 12.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at −63%, 5329 screens richer than that median.
Fair Value models
Bear0.2500 MYRFair Value 0.3500 MYRBull0.5000 MYR
Price 0.9550 MYR · Downside -63.4%
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 (0.0086 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.51/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
−17.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.0%
Dividend (yield on the price)0.5%
Profit margin 2021 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.22% → 15%
Growth Forecast
A lot of optimism in the price
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).
more than +80 %
Yearly growth needed for the next five years to justify today's 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.Engineering & Construction · 791 stocks
Beats the industry median on 3/14 measures
Overall it trails its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside−63.4% · Bottom 25%
Profitability
Return on equity (12 months)4.1% · Below median
Return on assets3.0% · Above median
Net margin (12 months)2.7% · Below median
Operating margin (12 months)−0.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)79.4% · Top 25%
Dividend yield (12 months)0.5% · Bottom 25%
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Is Azam Jaya Berhad (5329) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 0.3500 MYR versus a price of 0.9550 MYR, about 63% lower (overvalued).
What is the fair value of 5329?
Our model-based fair value for Azam Jaya Berhad is 0.3500 MYR (as of Nov 6, 2026), built from audited fundamentals. The current price: 0.9550 MYR.
What is the quality score of 5329?
Azam Jaya Berhad has a Quality Score of 42/100. 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 Azam Jaya Berhad (5329)?
Our model-based price target is the fair value of 0.3500 MYR (as of Nov 6, 2026) from 23 valuation models. Cautious scenario 0.2500 MYR, optimistic scenario 0.5000 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Azam Jaya Berhad stock forecast for 2026?
Our models put fair value at 0.3500 MYR, about 63% lower versus a price of 0.9550 MYR (overvalued). Cautious scenario 0.2500 MYR, optimistic scenario 0.5000 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Azam Jaya Berhad (5329)?
Azam Jaya Berhad reported trailing-twelve-month revenue of about 247M MYR (latest available figure, as of Nov 6, 2026).
Does Azam Jaya Berhad pay a dividend?
Azam Jaya Berhad currently shows a dividend yield of 0.52% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Azam Jaya Berhad (5329)?
Azam Jaya Berhad has a dividend yield of 0.5%.
What growth is priced into Azam Jaya Berhad (5329)?
For today's price to be fair in a discounted-cash-flow model, Azam Jaya Berhad would have to grow free cash flow by more than 80 % per year for five years (discount rate 14.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew -2.6 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 5329 use?
Our models discount Azam Jaya Berhad at 14.1 %: a base by market capitalisation (micro), 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 Azam Jaya Berhad that is more than 80 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (14.1 %) and the same formula as our fair value.
How much growth has Azam Jaya Berhad (5329) delivered so far?
Over the past 4 years revenue at Azam Jaya Berhad grew -2.6 % a year. The price currently implies free-cash-flow growth of more than 80 % 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 Azam Jaya Berhad (5329) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Azam Jaya Berhad (more than 80 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Azam Jaya Berhad (5329)?
The free-cash-flow yield on the price is 0.34 %: that much free cash flow Azam Jaya Berhad produces per unit of market value. When it exceeds the discount rate of our models (14.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Azam Jaya Berhad (5329)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Azam Jaya Berhad it is 0.3500 MYR per share (as of Nov 6, 2026), against a price of 0.9550 MYR. It is the blended result of 23 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Azam Jaya Berhad stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 5329 trades above its calculated fair value: price 0.9550 MYR, fair value 0.3500 MYR, a gap of about −63% (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 5329?
No. The price is what the market pays today (0.9550 MYR); the fair value is what the company's own numbers justify (0.3500 MYR). For Azam Jaya Berhad the two are 0.6050 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Azam Jaya Berhad worth?
The market values Azam Jaya Berhad at about 478M MYR (market capitalisation, as of Nov 6, 2026). Per share that is 0.9550 MYR; our models calculate a fair value of 0.3500 MYR per share.
What do the bullish and bearish scenarios say about 5329?
Our models span a range for Azam Jaya Berhad: cautious scenario 0.2500 MYR, base 0.3500 MYR, optimistic 0.5000 MYR per share (as of Nov 6, 2026, price 0.9550 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5329?
Azam Jaya Berhad trades at a price-to-earnings ratio of 95.5 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.3500 MYR is built from several models across several years. Other multiples: P/B 2.8, P/S 1.9, EV/EBITDA 15.7.
How solid is the balance sheet of Azam Jaya Berhad (5329)?
Balance-sheet figures for Azam Jaya Berhad (as of Nov 6, 2026): return on equity 4.1%, debt of 0.09 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 5329 from its 52-week high?
Azam Jaya Berhad trades at 0.9550 MYR, about 15% below its 52-week high of 1.12 MYR and 2% above the low of 0.9400 MYR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 0.3500 MYR is for.
Which stocks are comparable to Azam Jaya Berhad?
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 Azam Jaya Berhad stock attractive at the current price?
The data as of Nov 6, 2026: price 0.9550 MYR, calculated fair value 0.3500 MYR (−63%), Quality Score 42/100, from 23 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 5329 calculated?
We run Azam Jaya Berhad through 23 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 0.3500 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. Azam Jaya Berhad 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 Azam Jaya Berhad (5329)?
The closing price on Nov 6, 2026 was 0.9550 MYR. Our model-based fair value is 0.3500 MYR, about 63% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Azam Jaya Berhad right now?
The price sits above even our optimistic bull case (0.5000 MYR). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (0.2500 MYR to 0.5000 MYR) leaves room in how you read the outcome.
Key figures of Azam Jaya Berhad
How large is the market capitalisation of Azam Jaya Berhad (5329)?
The market capitalisation of Azam Jaya Berhad is 478M MYR (≈ $118M). 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 Azam Jaya Berhad (5329)?
The price-to-sales ratio of Azam Jaya Berhad is 1.93 (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 Azam Jaya Berhad (5329)?
Earnings per share at Azam Jaya Berhad are 0.0100 MYR (price ÷ EPS = P/E 95.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Azam Jaya Berhad (5329)?
The dividend yield of Azam Jaya Berhad is 0.5% (payout 50.0%). 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 Azam Jaya Berhad (5329)?
The net margin of Azam Jaya Berhad is 2.7% (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 Azam Jaya Berhad (5329)?
The return on equity (ROE) of Azam Jaya 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 Azam Jaya Berhad (5329)?
On an EBIT basis the return on assets of Azam Jaya Berhad is 12.2% (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 Azam Jaya Berhad (5329)?
The operating margin of Azam Jaya Berhad is −0.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Azam Jaya Berhad (5329)?
Revenue at Azam Jaya Berhad is growing +79.4% versus a year earlier (3y avg −11.1%). 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 Azam Jaya Berhad (5329)?
Earnings per share at Azam Jaya Berhad are growing +12.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Azam Jaya Berhad (5329) carry?
The net debt of Azam Jaya Berhad is 134M MYR (fiscal year 2025, ≈ 83.1 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 6, 2026