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JAG Bhd (0024) Fair Value & Analysis

Industrials · MY · Market cap 257M MYR (≈ $63.8M) · ISIN MYQ0024OO008

JB JAG Bhd 0024 · KLSE
Price0.3750 MYR
Fair Value0.1200 MYR
Upside-68.0%
Quality47/100
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Strengths

Low debt · generates free cash flow

Risks

!Trades 213% ABOVE our fair value of 0.1200 MYR
!Weak Growth (revenue 5y +8.0 %/yr)
!Thin margins · 1.2% net margin
!Mixed vs. peers (6/13)
Weak Growth (revenue 5y +8.0 %/yr)
Thin margins · 1.2% net margin
Low debt · generates free cash flow
0.56% dividend yield
Mixed vs. peers (6/13)
Narrow moat 34/100
Evidence: Medium Range 0.0700 MYR – 0.1700 MYR Share as image

Fair value as of: Aug 21, 2026

From 11 valuation models · updated 9 days ago

Share price +5.6% over the past month.

Below-average quality, and trading another 213% above our fair value.

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69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The price sits above even our optimistic bull case (0.1700 MYR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (0.0700 MYR to 0.1700 MYR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

0.4000 MYR 0.1989 MYR Fair Value 0.1200 MYR Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range 0.1989 MYR – 0.4000 MYR · fair‑value band 0.0700 MYR – 0.1700 MYR · the 0.3750 MYR price screens above the 0.1200 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

JAG Bhd (0024) currently trades at 0.3750 MYR, while our model-based Fair Value estimate is 0.1200 MYR, implying the stock looks roughly 68.0% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, JAG Bhd generated revenue of 252M MYR at a net margin of 1.2%. Revenue grew 39.0% year over year. It earns a return on equity of 1.5%. Net debt stands at 62.2M MYR. Fundamentals as of Aug 21, 2026

Our scenario range runs from 0.0700 MYR (bear case) to 0.1700 MYR (bull case); at 0.3750 MYR, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 83% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at -68%, 0024 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (0.0100 MYR to 0.1900 MYR). Read the values as a conservative anchor, not as a price target.
Model 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. Evidence
Highest evidence
Growth DCF 0.0300 MYR 0.0600 MYR 0.0900 MYR 80
Rev-Margin DCF 0.0300 MYR 0.0700 MYR 0.1100 MYR 74
EV/EBITDA 0.1200 MYR 0.1700 MYR 0.2200 MYR 54
All 11 models by family
DCF Models
FCF DCF 0.0300 MYR 0.0600 MYR 0.1000 MYR 38
Owner Earnings 0.0100 MYR 0.0300 MYR 31
5Y Revenue Exit 0.0300 MYR 0.0700 MYR 0.1200 MYR 39
5Y EBITDA Exit 0.0700 MYR 0.1500 MYR 0.2500 MYR 41
10Y Revenue Exit 0.0300 MYR 0.0600 MYR 0.1100 MYR 36
10Y EBITDA Exit 0.0500 MYR 0.1100 MYR 0.2000 MYR 37
Multiples
EV/EBITDA 0.1200 MYR 0.1700 MYR 0.2200 MYR 54
EV/Revenue 0.0300 MYR 0.0600 MYR 0.0900 MYR 43
Asset-Based
NCAV (Graham) 0.1400 MYR 0.1900 MYR 0.2800 MYR 50
Growth DCF
Growth DCF 0.0300 MYR 0.0600 MYR 0.0900 MYR 80
Rev-Margin DCF 0.0300 MYR 0.0700 MYR 0.1100 MYR 74

Widest divergence: Asset-Based (0.1900 MYR) versus DCF Models (0.0600 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/S ratio 1.02 TTM
Dividend yield 0.6%
Net margin -3.6% FY2025
Return on equity 1.5% TTM
Return on assets (EBIT) 4.4% avg 5y
Operating margin 13.0% TTM
More key figures
Growth
Revenue (TTM) 252M MYR TTM
Revenue growth (YoY) +39.0% 3y avg -2.7%
EPS growth (YoY) +140%
Balance sheet & cash flow
Free cash flow 5.0M MYR FY2025
Net debt 62.2M MYR FY2025 · ≈ 12.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 46 · Market factors (momentum, volatility) 80

Profitability 19
Margins and returns on capital today
Quality Growth 15
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 97
Distance to the 52-week high (market factor)
Net Issuance 73
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

JAG Berhad, an investment holding company, engages in the extraction, production, and refining of ferrous, non-ferrous, and precious metals through the recovery and reclamation of industrial and electronic waste in Malaysia, China, Japan, and internationally.

Full company description

JAG Berhad, an investment holding company, engages in the extraction, production, and refining of ferrous, non-ferrous, and precious metals through the recovery and reclamation of industrial and electronic waste in Malaysia, China, Japan, and internationally. It operates through Manufacturing, Trading, Lifestyle and Services, Investment, and Investment Property and Property Development segments. The company also operates coin-operated laundry business; and manufactures, distributes, and sells confectionery, ice cream, and gelato products, as well as offers other related services. In addition, it buys, sells, rents, and operates self-owned or leased real estate land; invests in, develops, and manages properties; and offers project management services, as well as provides trading and building construction services. Further, the company trades in ferrous and non-ferrous metals. JAG Berhad was incorporated in 1997 and is based in Petaling Jaya, Malaysia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

JAG Bhd reported revenue of 234M MYR in FY2025 versus 224M MYR in FY2021, a compound +1.1%/yr. Reported net income was −8.3M MYR in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
234M MYR
Latest YoY
+1.5%
Avg. revenue growth/yr (3Y) 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.
−2.7%
Avg. revenue growth/yr (5Y) 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.
+8.0%
Avg. revenue growth/yr (9Y) 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.
+10.7%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +1.1%/yr
FY21 224M MYR
FY22 254M MYR
FY23 203M MYR
FY24 231M MYR
FY25 234M MYR
Net income
FY21 19.1M MYR
FY22 9.6M MYR
FY23 1.2M MYR
FY24 5.9M MYR
FY25 −8.3M MYR

0024 screens 68% overvalued. Compare with Waste Management, Inc →

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Cite: Fair Value Calculator (2026). "JAG Bhd Fair Value". https://www.fairvalue-calculator.com/stock/0024

Peer Group

Waste Management · 168 stocks

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.

Quality Score 47 · Below median
Fair Value upside −68% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 3% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 13% · Above median
Revenue growth 39% · Top 25%
Dividend yield (TTM) 0.5% · Bottom 25%
Debt / equity 0.15× · Lower than median

Valuation Multiples vs Waste Management median · lower = cheaper

P/B 0.33× · Cheaper than 75% of peers
P/S (TTM) 0.25× · Cheaper than 75% of peers
P/FCF 12.8× · Pricier than median
EV/EBITDA 4.1× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 6
FUTURE100 · sector 20
PAST6 · sector 26
HEALTH92 · sector 82
DIVIDEND11 · sector 44

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Waste Management stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
Waste Management, Inc WM $217.76 $128.02 -41%
Republic Services, Inc RSG $222.18 $120.63 -46%
Waste Connections, Inc WCN C$230.52 C$78.67 -66%
Veolia Environnement SA VIE €32.58 €23.26 -29%
Clean Harbors, Inc CLH $311.81 $154.01 -51%
GFL Environmental Inc GFL C$57.62 C$44.27 -23%
Fomento de Construcciones y Contratas, S.A FCC €11.30 €7.30 -35%
GEM Co 002340 ¥6.67 ¥5.27 -21%
Zhejiang Weiming Environment Protection Co 603568 ¥14.86 ¥20.95 +41%
Cleanaway Waste Management Limited CWY A$2.56 A$1.18 -54%

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Frequently asked questions

Is JAG Bhd (0024) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of 0.1200 MYR versus a price of 0.3750 MYR, about −68% (overvalued).
What is the fair value of 0024?
Our model-based fair value for JAG Bhd is 0.1200 MYR (as of Aug 21, 2026), built from audited fundamentals. The current price: 0.3750 MYR.
What is the quality score of 0024?
JAG Bhd has a Quality Score of 47/100. 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 revenue of JAG Bhd (0024)?
JAG Bhd reported trailing-twelve-month revenue of about 252M MYR (latest available figure, as of Aug 21, 2026).
What is the net profit margin of 0024?
The net profit margin of JAG Bhd is about 1.2%, meaning it keeps roughly 1.2% of revenue as net income. Based on the latest reported figures.
Does JAG Bhd pay a dividend?
JAG Bhd currently shows a dividend yield of about 0.56% relative to its recent price (as of Aug 21, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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