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Excel Force MSC Berhad, (0065) Fair Value & Analysis

Technology · MY · Market cap 91.5M MYR

EF Excel Force MSC Berhad, 0065 · KLSE
Price0.1600 MYR
Fair Value0.1700 MYR
Upside+6.3%
Quality60/100
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Mixed Growth
Solidly profitable · 11.9% net margin
Low debt · generates free cash flow
3.23% dividend yield
Ranks above peers (12/14)
Moderate moat 50/100
Evidence: High Range 0.1200 MYR – 0.2100 MYR Share as image

Fair value as of: Jul 12, 2026

From 25 valuation models · updated 30 days ago

Share price +6.7% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 0.1200 MYR (bear) to 0.2100 MYR (bull), base 0.1700 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 60/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

0.6525 MYR 0.1500 MYR Fair Value 0.1700 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 0.1500 MYR – 0.6525 MYR · fair‑value band 0.1200 MYR – 0.2100 MYR · the 0.1600 MYR price screens below the 0.1700 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Excel Force MSC Berhad, (0065) currently trades at 0.1600 MYR, while our model-based Fair Value estimate is 0.1700 MYR, implying the stock looks roughly 6.3% fairly valued today. The Quality Score stands at 60/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Excel Force MSC Berhad, generated revenue of 27.9M MYR at a net margin of 11.9%. Revenue grew 13.6% year over year. It earns a return on equity of 2.6%. The balance sheet holds a net cash position of 14.2M MYR. Fundamentals as of Jul 12, 2026

Our scenario range runs from 0.1200 MYR (bear case) to 0.2100 MYR (bull case); at 0.1600 MYR, the current price sits within 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 about 39% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 6%, 0065 screens cheaper 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.

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 0.1800 MYR 0.2200 MYR 0.2700 MYR 80
Residual Income 0.1400 MYR 0.1300 MYR 0.1100 MYR 76
Rev-Margin DCF 0.1300 MYR 0.1800 MYR 0.2200 MYR 74
All 25 models by family
DCF Models
FCF DCF 0.1800 MYR 0.2300 MYR 0.2900 MYR 38
Owner Earnings 0.1400 MYR 0.1800 MYR 0.2200 MYR 31
5Y Revenue Exit 0.1300 MYR 0.1700 MYR 0.2200 MYR 39
5Y EBITDA Exit 0.1900 MYR 0.2700 MYR 0.3600 MYR 41
5Y P/E Exit 0.1500 MYR 0.2100 MYR 0.2600 MYR 38
10Y Revenue Exit 0.1500 MYR 0.1900 MYR 0.2300 MYR 36
10Y EBITDA Exit 0.1800 MYR 0.2400 MYR 0.3200 MYR 37
10Y P/E Exit 0.1600 MYR 0.2100 MYR 0.2600 MYR 35
Earnings-Based
Graham-Dodd 0.0600 MYR 0.1500 MYR 0.1900 MYR 54
PEG = 1.0 0.0300 MYR 0.0400 MYR 0.0500 MYR 46
EPV 0.0900 MYR 0.1000 MYR 0.1000 MYR 59
Dividend Discount
Gordon GGM 0.0300 MYR 0.0600 MYR 0.0800 MYR 70
DDM Multi-Stage 0.0300 MYR 0.0500 MYR 0.0600 MYR 61
Multiples
P/E Multiple 0.1200 MYR 0.1700 MYR 0.2100 MYR 63
P/S Multiple 0.0800 MYR 0.1100 MYR 0.1400 MYR 58
P/B Multiple 0.1100 MYR 0.1400 MYR 0.1800 MYR 55
EV/EBIT 0.2000 MYR 0.2500 MYR 0.3100 MYR 53
EV/EBITDA 0.2200 MYR 0.2800 MYR 0.3500 MYR 54
EV/Revenue 0.1000 MYR 0.1400 MYR 0.1700 MYR 43
Asset-Based
NCAV (Graham) 0.1000 MYR 0.1400 MYR 0.2100 MYR 50
Growth DCF
Growth DCF 0.1800 MYR 0.2200 MYR 0.2700 MYR 80
Rev-Margin DCF 0.1300 MYR 0.1800 MYR 0.2200 MYR 74
Economic Profit
Residual Income 0.1400 MYR 0.1300 MYR 0.1100 MYR 76
ROIC Compounder 0.0900 MYR 0.1000 MYR 0.1000 MYR 72
Growth Earnings
Growth-Adj P/E 0.1000 MYR 0.1400 MYR 0.1800 MYR 68

Widest divergence: DCF Models (0.2100 MYR) versus Dividend Discount (0.0500 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 27.9M MYR
Revenue growth (YoY) +13.6%
Net margin 11.9%
Return on equity 2.6%
Free cash flow 11.6M MYR FY2024
P/E ratio 17.0
More key figures
Operating margin 22.7%
EPS (TTM) 0.0100 MYR
Dividend yield 2.9%
EPS growth (YoY) -28.0%
Net cash 14.2M MYR FY2024

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 63 · Market factors (momentum, volatility) 32

Profitability 33
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 37
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.

About the company

Excel Force MSC Berhad, together with its subsidiaries, develops, provides, and maintains software application solutions for the financial services industry in Malaysia. The company operates in four segments: Application Solutions, Maintenance Services, Application Services Provider, and Other segments.

Full company description

Excel Force MSC Berhad, together with its subsidiaries, develops, provides, and maintains software application solutions for the financial services industry in Malaysia. The company operates in four segments: Application Solutions, Maintenance Services, Application Services Provider, and Other segments. Its product portfolio includes CyberBroker Front Office for client-server, web, and mobile-based stock trading systems; CyberBroker Middle Office; CyberBroker Back Office, including custodian and nominee systems; StockBanking System comprising share margin financing systems; and fundamental analysis systems. The company also offers eForce One, a web trading platform that operates as an electronic client ordering system; Mobile Trade 3.5G, a mobile trading system; eForce Interactive X-Chart, a charting tool; eForce EmPower, a back-office system; and Cyberstock, a dealer and remisier system. In addition, it provides investment advisory services. Excel Force MSC Berhad was founded in 1994 and is based in Petaling Jaya, Malaysia.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Excel Force MSC Berhad, reported revenue of 27.4M MYR in FY2024 versus 31.4M MYR in FY2020, a compound −3.4%/yr. Reported net income was 5.1M MYR in FY2024, compounding −17.1%/yr from FY2020.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
27.4M MYR
Latest YoY
−5.6%
Avg. 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.
−9.8%
Avg. 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.
+3.6%
Avg. growth/yr (21Y) 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%
Revenue −3.4%/yr
FY20 31.4M MYR
FY21 37.3M MYR
FY22 28.9M MYR
FY23 29.0M MYR
FY24 27.4M MYR
Net income −17.1%/yr
FY20 10.8M MYR
FY21 12.3M MYR
FY22 8.1M MYR
FY23 8.3M MYR
FY24 5.1M MYR
Character of growth · EPS growth decomposed (2013-2024) −4.6 % p.a.
Revenue per share −1.2 pp

of which total revenue +2.6 pp · buybacks/dilution −3.8 pp

EBIT margin −0.5 pp
Tax rate −1.1 pp
Residual (interest, one-offs) −1.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Excel Force MSC Berhad, Fair Value". https://www.fairvalue-calculator.com/stock/0065

Peer Group

Software - Application · 709 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 60 · Above median
Fair Value upside +6% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 2% · Above median
Net margin (TTM) 12% · Above median
Operating margin (TTM) 23% · Top 25%
Revenue growth 14% · Above median
Dividend yield (TTM) 3.2% · Top 25%
Debt / equity 0.05× · Higher than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 15.0× · Cheaper than median
P/B 0.18× · Cheaper than 75% of peers
P/S (TTM) 0.80× · Cheaper than median
P/FCF 1.9× · Cheaper than 75% of peers
EV/EBITDA 1.0× · 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.

VALUE 42 · sector 0
FUTURE 68 · sector 38
PAST 10 · sector 13
HEALTH 98 · sector 98
DIVIDEND 65 · sector 28

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
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Frequently asked questions

Is Excel Force MSC Berhad, (0065) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 0.1700 MYR versus a price of 0.1600 MYR, about +6% (fairly valued).
What is the fair value of 0065?
Our model-based fair value for Excel Force MSC Berhad, is 0.1700 MYR (as of Jul 12, 2026), built from audited fundamentals. The current price is 0.1600 MYR.
What is the quality score of 0065?
Excel Force MSC Berhad, has a Quality Score of 60/100. 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 Excel Force MSC Berhad, (0065)?
Excel Force MSC Berhad, reported trailing-twelve-month revenue of about 27.9M MYR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 0065?
The net profit margin of Excel Force MSC Berhad, is about 11.9%, meaning it keeps roughly 11.9% of revenue as net income. Based on the latest reported figures.
Does Excel Force MSC Berhad, pay a dividend?
Excel Force MSC Berhad, currently shows a dividend yield of about 2.94% relative to its recent price (as of Jul 12, 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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