Inari Amertron Berhad (0166) Fair Value & Analysis

Technology · MY · Market cap 8.3B MYR

A solid business, but screening 53% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (1.43 MYR). The favourable scenario is already priced in.
• Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 1.20 MYR – 3.80 MYR · fair‑value band 0.8600 MYR – 1.43 MYR · the 2.40 MYR price screens above the 1.14 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Inari Amertron Berhad (0166) currently trades at 2.40 MYR, while our model-based Fair Value estimate is 1.14 MYR, implying the stock looks roughly 52.5% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Technology 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, Inari Amertron Berhad generated revenue of 1.2B MYR at a net margin of 14.2%. Revenue declined 13.8% year over year. It earns a return on equity of 5.4%. The balance sheet holds a net cash position of 2.1B MYR. Fundamentals as of Jul 17, 2026

Our scenario range runs from 0.8600 MYR (bear case) to 1.43 MYR (bull case); at 2.40 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 about 9% below its 52-week high and 100% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -53%, 0166 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.

Widest divergence: DCF Models (1.69 MYR) versus Asset-Based (0.4800 MYR). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Inari Amertron Berhad 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.

0166 screens 53% overvalued. Compare with ASML Holding →

Peer Group

Semiconductor Equipment & Materials · 211 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.

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

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

Insider activity: 40/100

Values & ESG

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

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

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Frequently asked questions

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.