Inari Amertron Bhd (0166) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Inari Amertron Bhd MYR 2.97, price MYR 2.68, upside +10.8%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 1.20 MYR – 3.80 MYR · fair‑value band 2.29 MYR – 3.53 MYR · the 2.68 MYR price screens below the 2.97 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Inari Amertron Berhad engages in the provision of electronic manufacturing, outsourced semiconductor assembly, and testing services for radio frequency, fiber-optics transceivers, optoelectronics, memory modules, sensors, and custom integrated circuit (IC) technologies.
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Inari Amertron Berhad engages in the provision of electronic manufacturing, outsourced semiconductor assembly, and testing services for radio frequency, fiber-optics transceivers, optoelectronics, memory modules, sensors, and custom integrated circuit (IC) technologies. The company offers wafer processing services covering bumping, probing, laser marking, die sawing, back grinding, flip-chip dice tape and reel, and automated visual inspection; and chip fabrication and wafer certification in fiber optic chips, such as wafer scribe and cleave, bar aligning, demount-load fixtures and facet coating, and chip on carrier. It also provides advanced system in package assembly and test services, including fine-pitch surface mount technology, high speed and accuracy flip-chip dice placement, in-line post vision, molding underfill, and post-mold oxide plating and final testing; stacked dice for memory modules; and other services, such as new product introduction services, failure analysis lab, sensor and IC package design and characterization, process customization and assembly, product testing, box build, and direct-to-end-customer dropship services. In addition, the company manufactures, assembles, and tests optoelectronic and sensor components, modules, and systems; information technology consulting, data processing, and information technology related services. Further, it manufactures electronics optical fiber and optoelectronics devices, communication chips, and die preparations and testing; designs, develops, and manufactures fiber optic products; designs, assembles, and supplies semiconductor manufacturing process tools, as well as customized semiconductor process tools and parts; and invests in properties. It operates in Malaysia, Singapore, China, the United States, Hong Kong, and internationally. Inari Amertron Berhad was founded in 2006 and is based in Petaling Jaya, Malaysia.
Stock analysis
Inari Amertron Bhd (0166) currently trades at 2.68 MYR, while our model-based Fair Value estimate is 2.97 MYR, implying the stock looks roughly 9.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 1.88 MYR per share, and 0 of the 26 models we run sit above the 2.68 MYR price.
Bear case: the Asset-Based group reads lowest at 0.4800 MYR, and 26 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 2.29 MYR (bear) to 3.53 MYR (bull), the price of 2.68 MYR sits inside 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 62/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Inari Amertron Bhd reported revenue of 1.4B MYR in FY2025 versus 1.4B MYR in FY2021, a compound −1.4%/yr. Reported net income was 219M MYR in FY2025, compounding −9.8%/yr from FY2021.
Key figures
Market cap 10.2B MYR (≈ $2.5B) · P/E ratio 67.0 · P/S ratio 10.8 · EPS (TTM) 0.0400 MYR · Dividend yield 1.7% · Net margin 16.2% · Return on equity 5.4% · Return on assets (EBIT) 11.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 124% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at 11%, 0166 screens cheaper than that median.
Fair Value models
Bear 2.29 MYRFair Value 2.97 MYRBull 3.53 MYR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−8.6%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+5.0%
Start year 2020 (pandemic). Over 10 years: +3.8% a year
Revenue growth 17 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+16.5%
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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.
+1.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.6%
Dividend (yield on the price)1.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−1% vs 1%, steady
Profit margin 2020 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.16% → 11%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+24.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +21.7% a year for the price and −0.1% for the forecasts.
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.Semiconductor Equipment & Materials · 217 stocks
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Cite: Fair Value Calculator (2026). "Inari Amertron Bhd Fair Value". https://www.fairvalue-calculator.com/stock/0166
Frequently asked questions
Is Inari Amertron Bhd (0166) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2.97 MYR versus a price of 2.68 MYR, about +11% upside (undervalued).
What is the fair value of 0166?
Our model-based fair value for Inari Amertron Bhd is 2.97 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 2.68 MYR.
What is the quality score of 0166?
Inari Amertron Bhd has a Quality Score of 62/100. 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 Inari Amertron Bhd (0166)?
Our model-based price target is the fair value of 2.97 MYR (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 2.29 MYR, optimistic scenario 3.53 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Inari Amertron Bhd stock forecast for 2026?
Our models put fair value at 2.97 MYR, about +11% upside versus a price of 2.68 MYR (undervalued). Cautious scenario 2.29 MYR, optimistic scenario 3.53 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Inari Amertron Bhd (0166)?
Inari Amertron Bhd reported trailing-twelve-month revenue of about 1.2B MYR (latest available figure, as of Sep 24, 2026).
Does Inari Amertron Bhd pay a dividend?
Inari Amertron Bhd currently shows a dividend yield of about 1.68% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Inari Amertron Bhd (0166)?
For today's price to be fair in a discounted-cash-flow model, Inari Amertron Bhd would have to grow free cash flow by +24.1 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0166 use?
Our models discount Inari Amertron Bhd at 10.5 %: a base by market capitalisation (mid), damped by beta 0.82, 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 Inari Amertron Bhd that is +24.1 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Inari Amertron Bhd (0166) delivered so far?
Over the past 5 years revenue at Inari Amertron Bhd grew +5.0 % a year. The price currently implies +24.1 % per year free-cash-flow growth a 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 Inari Amertron Bhd (0166) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Inari Amertron Bhd (+24.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Inari Amertron Bhd (0166)?
The free-cash-flow yield on the price is 2.06 %: that much free cash flow Inari Amertron Bhd produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Inari Amertron Bhd (0166)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Inari Amertron Bhd it is 2.97 MYR per share (as of Sep 24, 2026), against a price of 2.68 MYR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Inari Amertron Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0166 trades below its calculated fair value: price 2.68 MYR, fair value 2.97 MYR, a gap of about +11% (undervalued). 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 0166?
No. The price is what the market pays today (2.68 MYR); the fair value is what the company's own numbers justify (2.97 MYR). For Inari Amertron Bhd the two are 0.2900 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Inari Amertron Bhd worth?
The market values Inari Amertron Bhd at about 10.2B MYR (market capitalisation, as of Sep 24, 2026). Per share that is 2.68 MYR; our models calculate a fair value of 2.97 MYR per share.
What do the bullish and bearish scenarios say about 0166?
Our models span a range for Inari Amertron Bhd: cautious scenario 2.29 MYR, base 2.97 MYR, optimistic 3.53 MYR per share (as of Sep 24, 2026, price 2.68 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0166?
Inari Amertron Bhd trades at a price-to-earnings ratio of 67.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2.97 MYR is built from several models across several years. Other multiples: PEG 7.6, P/B 0.9, P/S 2.1, EV/EBITDA 1.5.
What is the PEG ratio of 0166?
The PEG ratio of Inari Amertron Bhd is 7.56 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Inari Amertron Bhd (0166)?
Balance-sheet figures for Inari Amertron Bhd (as of Sep 24, 2026): return on equity 5.4%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 0166 from its 52-week high?
Inari Amertron Bhd trades at 2.68 MYR, about 1% below its 52-week high of 2.70 MYR and 124% above the low of 1.20 MYR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2.97 MYR is for.
Which stocks are comparable to Inari Amertron Bhd?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, 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 Inari Amertron Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 2.68 MYR, calculated fair value 2.97 MYR (+11%), Quality Score 62/100, from 26 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 0166 calculated?
We run Inari Amertron Bhd through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 2.97 MYR, 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 14.1 % above its aggregate fair value. Inari Amertron Bhd currently trades 11 % below its own fair value, and the market average says nothing about that. 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 Inari Amertron Bhd (0166)?
The closing price on Sep 23, 2026 was 2.68 MYR. Our model-based fair value is 2.97 MYR, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Inari Amertron Bhd right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Inari Amertron Bhd (0166) come from?
Earnings per share at Inari Amertron Bhd grew +4.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.8 %, EBIT margin +2.0 %, tax rate −0.2 %, residual (interest, one-offs) +2.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Inari Amertron Bhd
How large is the market capitalisation of Inari Amertron Bhd (0166)?
The market capitalisation of Inari Amertron Bhd is 10.2B MYR (≈ $2.5B). 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 Inari Amertron Bhd (0166)?
The price-to-sales ratio of Inari Amertron Bhd is 10.8 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Inari Amertron Bhd (0166)?
Earnings per share at Inari Amertron Bhd are 0.0400 MYR (price ÷ EPS = P/E 67.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Inari Amertron Bhd (0166)?
The dividend yield of Inari Amertron Bhd is 1.7% (payout 113%). 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 Inari Amertron Bhd (0166)?
The net margin of Inari Amertron Bhd is 16.2% (fiscal year 2025). 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 Inari Amertron Bhd (0166)?
The return on equity (ROE) of Inari Amertron Bhd is 5.4% (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 Inari Amertron Bhd (0166)?
On an EBIT basis the return on assets of Inari Amertron Bhd is 11.7% (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 Inari Amertron Bhd (0166)?
The operating margin of Inari Amertron Bhd is 7.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Inari Amertron Bhd (0166)?
Revenue at Inari Amertron Bhd is growing −13.8% versus a year earlier (3y avg −4.4%). 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 Inari Amertron Bhd (0166)?
Earnings per share at Inari Amertron Bhd are growing −49.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Inari Amertron Bhd (0166) hold?
Inari Amertron Bhd holds more cash than debt, 2.1B MYR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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