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N2N Connect Berhad, an investment holding company, (0108) Fair Value & Analysis

Technology · MY · Market cap 165M MYR

NC N2N Connect Berhad, an investment holding company, 0108 · KLSE
Price0.3200 MYR
Fair Value0.3800 MYR
Upside+18.8%
Quality65/100
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Weak Growth
Solidly profitable · 12.9% net margin
Low debt · generates free cash flow
6.45% dividend yield
Ranks above peers (12/13)
Narrow moat 39/100
Evidence: High Range 0.3000 MYR – 0.4400 MYR Share as image

Fair value as of: Jul 15, 2026

From 24 valuation models · updated 26 days ago

Share price +3.2% over the past month.

A solid business, screening 19% undervalued on our models.

What matters now

  • Our model range runs from 0.3000 MYR (bear) to 0.4400 MYR (bull), base 0.3800 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 65/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

0.6987 MYR 0.2950 MYR Fair Value 0.3800 MYR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 0.2950 MYR – 0.6987 MYR · fair‑value band 0.3000 MYR – 0.4400 MYR · the 0.3200 MYR price screens below the 0.3800 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

Full chart & analysis →

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Analysis

N2N Connect Berhad, an investment holding company, (0108) currently trades at 0.3200 MYR, while our model-based Fair Value estimate is 0.3800 MYR, implying the stock looks roughly 18.8% undervalued today. The Quality Score stands at 65/100 (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, N2N Connect Berhad, an investment holding company, generated revenue of 88.7M MYR at a net margin of 12.9%. Revenue declined 20.3% year over year. It earns a return on equity of 4.5%. Net debt stands at 16.2M MYR. Fundamentals as of Jul 15, 2026

Our scenario range runs from 0.3000 MYR (bear case) to 0.4400 MYR (bull case); at 0.3200 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 24% below its 52-week high and 10% 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 19%, 0108 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 0.2800 MYR 0.3200 MYR 0.3700 MYR 80
Residual Income 0.3100 MYR 0.3100 MYR 0.2800 MYR 76
Rev-Margin DCF 0.2700 MYR 0.3200 MYR 0.3900 MYR 74
All 24 models by family
DCF Models
FCF DCF 0.2800 MYR 0.3200 MYR 0.3700 MYR 38
Owner Earnings 0.2300 MYR 0.2500 MYR 0.2900 MYR 31
5Y Revenue Exit 0.2700 MYR 0.3200 MYR 0.3900 MYR 39
5Y EBITDA Exit 0.3200 MYR 0.4000 MYR 0.5200 MYR 41
5Y P/E Exit 0.3700 MYR 0.4900 MYR 0.6300 MYR 38
10Y Revenue Exit 0.2700 MYR 0.3100 MYR 0.3500 MYR 36
10Y EBITDA Exit 0.3000 MYR 0.3500 MYR 0.4100 MYR 37
10Y P/E Exit 0.3300 MYR 0.4000 MYR 0.4700 MYR 35
Earnings-Based
Graham-Dodd 0.1600 MYR 0.2400 MYR 0.2800 MYR 54
EPV 0.2100 MYR 0.2100 MYR 0.2200 MYR 59
Dividend Discount
Gordon GGM 0.1400 MYR 0.1500 MYR 0.1700 MYR 70
DDM Multi-Stage 0.1400 MYR 0.1700 MYR 0.2000 MYR 61
Multiples
P/E Multiple 0.3500 MYR 0.4700 MYR 0.5900 MYR 63
P/S Multiple 0.3000 MYR 0.4000 MYR 0.5000 MYR 58
P/B Multiple 0.3000 MYR 0.4000 MYR 0.5000 MYR 55
EV/EBIT 0.3400 MYR 0.4000 MYR 0.4700 MYR 53
EV/EBITDA 0.3900 MYR 0.4700 MYR 0.5500 MYR 54
EV/Revenue 0.2700 MYR 0.3300 MYR 0.3800 MYR 43
Asset-Based
NCAV (Graham) 0.2200 MYR 0.3000 MYR 0.4400 MYR 50
Growth DCF
Growth DCF 0.2800 MYR 0.3200 MYR 0.3700 MYR 80
Rev-Margin DCF 0.2700 MYR 0.3200 MYR 0.3900 MYR 74
Economic Profit
Residual Income 0.3100 MYR 0.3100 MYR 0.2800 MYR 76
ROIC Compounder 0.2100 MYR 0.2100 MYR 0.2200 MYR 72
Growth Earnings
Growth-Adj P/E 0.2500 MYR 0.3600 MYR 0.4700 MYR 68

Widest divergence: Multiples (0.4000 MYR) versus Dividend Discount (0.1500 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 88.7M MYR
Revenue growth (YoY) -20.3%
Net margin 12.9%
Return on equity 4.5%
Free cash flow 10.8M MYR FY2024
P/E ratio 17.0
More key figures
Operating margin 7.2%
EPS (TTM) 0.0200 MYR
Dividend yield 6.3%
EPS growth (YoY) -38.6%
Net debt 16.2M MYR FY2017

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 65 · Market factors (momentum, volatility) 42

Profitability 37
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 82
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

N2N Connect Berhad, an investment holding company, engages in the research and development of software packages in Malaysia, Hong Kong, China, and internationally. The company offers design, programming, consultancy, sales, marketing, and related services.

Full company description

N2N Connect Berhad, an investment holding company, engages in the research and development of software packages in Malaysia, Hong Kong, China, and internationally. The company offers design, programming, consultancy, sales, marketing, and related services. It also provides Asia E-Broker, a trading platform; Asia Trading Hub, a network of brokers from across the region that are inter-connected through a unified trading platform; Trading Solution, a functional integrated trading and settlement solution; Information Terminal offers real time data from various markets of every asset class; wealth and asset management solutions; algorithmic trading solutions; and Market Maker Solutions that generates liquidity and depth for financial markets. In addition, the company offers connectivity solutions, such as dedicated internet access, leased lines, and international connectivity services; security solutions, including web app firewalls, SIEM, IPS, VPN, and DDoS protection; data center, which offers server hosting, management, and colocation services; and enterprise application and hardware solutions, including VoIP and IT application and hardware services. Further, the company offers managed, connectivity and managed network services; on-line stock market information and securities trading systems, and business solutions; information technology system and solutions services to online internet platforms; infrastructure for hosting, data processing services, and related activities; system, information, and communication technology services; and consulting services for analysis, design, and programming of ready touse systems, including analysis of computer user needs, creating and implementing software applications. Additionally, it sells and maintains microcomputers; sells computer hardware and software; and provides online financial information. N2N Connect Berhad was incorporated in 2000 and is headquartered in Kuala Lumpur, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

N2N Connect Berhad, an investment holding company, reported revenue of 93.9M MYR in FY2025 versus 116M MYR in FY2021, a compound −5.1%/yr. Reported net income was 13.2M MYR in FY2025, compounding −11.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
93.9M MYR
Latest YoY
−12.8%
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.
−3.0%
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.
−3.5%
Avg. 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.
+9.4%
Revenue −5.1%/yr
FY21 116M MYR
FY22 103M MYR
FY23 105M MYR
FY24 108M MYR
FY25 93.9M MYR
Net income −11.9%/yr
FY21 21.9M MYR
FY22 17.6M MYR
FY23 14.1M MYR
FY24 −26.2M MYR
FY25 13.2M MYR

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Cite: Fair Value Calculator (2026). "N2N Connect Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/0108

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 65 · Above median
Fair Value upside +19% · Top 25%
Return on equity (TTM) 4% · Above median
Return on assets 2% · Above median
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 7% · Above median
Revenue growth -20% · Bottom 25%
Dividend yield (TTM) 6.5% · Top 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 14.8× · Cheaper than median
P/B 0.16× · Cheaper than 75% of peers
P/S (TTM) 0.45× · Cheaper than 75% of peers
P/FCF 3.7× · Cheaper than median

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 58 · sector 0
FUTURE 0 · sector 38
PAST 18 · sector 13
HEALTH 100 · sector 98
DIVIDEND 100 · 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.

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is N2N Connect Berhad, an investment holding company, (0108) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 0.3800 MYR versus a price of 0.3200 MYR, about +19% (undervalued).
What is the fair value of 0108?
Our model-based fair value for N2N Connect Berhad, an investment holding company, is 0.3800 MYR (as of Jul 15, 2026), built from audited fundamentals. The current price is 0.3200 MYR.
What is the quality score of 0108?
N2N Connect Berhad, an investment holding company, has a Quality Score of 65/100. 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 N2N Connect Berhad, an investment holding company, (0108)?
N2N Connect Berhad, an investment holding company, reported trailing-twelve-month revenue of about 88.7M MYR (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 0108?
The net profit margin of N2N Connect Berhad, an investment holding company, is about 12.9%, meaning it keeps roughly 12.9% of revenue as net income. Based on the latest reported figures.
Does N2N Connect Berhad, an investment holding company, pay a dividend?
N2N Connect Berhad, an investment holding company, currently shows a dividend yield of about 6.25% relative to its recent price (as of Jul 15, 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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