GDB Holdings Bhd (0198) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of GDB Holdings Bhd MYR 1.37, price MYR 0.42, upside +226.2%, quality 61 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 28, 2026.
How to read this chart
60‑month range 0.1222 MYR – 0.5641 MYR · fair‑value band 0.8700 MYR – 2.05 MYR · the 0.4200 MYR price screens below the 1.37 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.
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GDB Holdings Berhad, an investment holding company, engages in the provision of construction services in Malaysia. It constructs high-rise residential, commercial, and mixed development projects.
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GDB Holdings Berhad, an investment holding company, engages in the provision of construction services in Malaysia. It constructs high-rise residential, commercial, and mixed development projects. The company also offers geotechnical and foundation engineering works comprising large-scale piling projects, infrastructure development, deep excavations, and basement construction. In addition, it provides supply and installation of construction materials, machinery and equipment, and other specialized trade work, including mechanical and electrical engineering works, piping and plumbing works, external paint works, water proofing works, and other related works. The company was incorporated in 2013 and is headquartered in Shah Alam, Malaysia.
Stock analysis
GDB Holdings Bhd (0198) currently trades at 0.4200 MYR, while our model-based Fair Value estimate is 1.37 MYR, implying the stock looks roughly 69.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 1.62 MYR per share, and 22 of the 26 models we run sit above the 0.4200 MYR price.
Bear case: the Dividend Discount group reads lowest at 0.1700 MYR, and 4 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.8700 MYR (bear) to 2.05 MYR (bull), the price of 0.4200 MYR sits below 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 61/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
GDB Holdings Bhd reported revenue of 748M MYR in FY2025 versus 425M MYR in FY2021, a compound +15.2%/yr. Reported net income was 54.3M MYR in FY2025, compounding +17.3%/yr from FY2021.
Key figures
Market cap 495M MYR (≈ $121M) · P/E ratio 7.0 · P/S ratio 0.51 · EPS (TTM) 0.0600 MYR · Dividend yield 2.9% · Net margin 7.3% · Return on equity 22.2% · Return on assets (EBIT) 9.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 226%, 0198 screens cheaper than that median.
Fair Value models
Bear 0.8700 MYRFair Value 1.37 MYRBull 2.05 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0363 MYR per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year (last 5 years), in MYR (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+14.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.4%
Dividend (yield on the price)2.9%
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.11.5% vs 10.7%, 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.9% → 9%
2025 sits 187% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 1.1%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−24.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about −26.4% a year for the price.
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.Engineering & Construction · 789 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Top 25%
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (TTM)22.2% · Top 25%
Return on assets8.6% · Top 25%
Net margin (TTM)7.3% · Above median
Operating margin (TTM)15.6% · Top 25%
Growth and dividend
Revenue growth15.7% · Above median
Dividend yield (TTM)2.9% · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "GDB Holdings Bhd Fair Value". https://www.fairvalue-calculator.com/stock/0198
Frequently asked questions
Is GDB Holdings Bhd (0198) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of 1.37 MYR versus a price of 0.4200 MYR, about +226% upside (undervalued).
What is the fair value of 0198?
Our model-based fair value for GDB Holdings Bhd is 1.37 MYR (as of Sep 28, 2026), built from audited fundamentals. The current price: 0.4200 MYR.
What is the quality score of 0198?
GDB Holdings Bhd has a Quality Score of 61/100. 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 GDB Holdings Bhd (0198)?
Our model-based price target is the fair value of 1.37 MYR (as of Sep 28, 2026) from 26 valuation models. Cautious scenario 0.8700 MYR, optimistic scenario 2.05 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the GDB Holdings Bhd stock forecast for 2026?
Our models put fair value at 1.37 MYR, about +226% upside versus a price of 0.4200 MYR (undervalued). Cautious scenario 0.8700 MYR, optimistic scenario 2.05 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of GDB Holdings Bhd (0198)?
GDB Holdings Bhd reported trailing-twelve-month revenue of about 771M MYR (latest available figure, as of Sep 28, 2026).
Does GDB Holdings Bhd pay a dividend?
GDB Holdings Bhd currently shows a dividend yield of about 2.86% relative to its recent price (as of Sep 28, 2026).
What growth is priced into GDB Holdings Bhd (0198)?
For today's price to be fair in a discounted-cash-flow model, GDB Holdings Bhd would have to grow free cash flow by -24.9 % per year for five years (discount rate 14.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.6 % per year. As of Sep 28, 2026.
What discount rate (WACC) does the fair value of 0198 use?
Our models discount GDB Holdings Bhd at 14.2 %: a base by market capitalisation (micro), damped by beta 1.03, 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 GDB Holdings Bhd that is -24.9 % per year a year over ten years, using the same discount rate (14.2 %) and the same formula as our fair value.
How much growth has GDB Holdings Bhd (0198) delivered so far?
Over the past 5 years revenue at GDB Holdings Bhd grew +15.6 % a year. The price currently implies -24.9 % 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 GDB Holdings Bhd (0198) growing?
The median revenue growth in the sector is +7.3 % a year. That is the yardstick for the growth priced into GDB Holdings Bhd (-24.9 % 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 GDB Holdings Bhd (0198)?
The free-cash-flow yield on the price is 22.79 %: that much free cash flow GDB Holdings Bhd produces per unit of market value. When it exceeds the discount rate of our models (14.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of GDB Holdings Bhd (0198)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GDB Holdings Bhd it is 1.37 MYR per share (as of Sep 28, 2026), against a price of 0.4200 MYR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is GDB Holdings Bhd stock overvalued or undervalued in 2026?
As of Sep 28, 2026, 0198 trades below its calculated fair value: price 0.4200 MYR, fair value 1.37 MYR, a gap of about +226% (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 0198?
No. The price is what the market pays today (0.4200 MYR); the fair value is what the company's own numbers justify (1.37 MYR). For GDB Holdings Bhd the two are 0.9500 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is GDB Holdings Bhd worth?
The market values GDB Holdings Bhd at about 495M MYR (market capitalisation, as of Sep 28, 2026). Per share that is 0.4200 MYR; our models calculate a fair value of 1.37 MYR per share.
What do the bullish and bearish scenarios say about 0198?
Our models span a range for GDB Holdings Bhd: cautious scenario 0.8700 MYR, base 1.37 MYR, optimistic 2.05 MYR per share (as of Sep 28, 2026, price 0.4200 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0198?
GDB Holdings Bhd trades at a price-to-earnings ratio of 7.0 (as of Sep 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.37 MYR is built from several models across several years. Other multiples: P/B 1.8, P/S 0.6, EV/EBITDA 7.1.
How solid is the balance sheet of GDB Holdings Bhd (0198)?
Balance-sheet figures for GDB Holdings Bhd (as of Sep 28, 2026): return on equity 22.2%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 0198 from its 52-week high?
GDB Holdings Bhd trades at 0.4200 MYR, about 24% below its 52-week high of 0.5528 MYR and 25% above the low of 0.3356 MYR (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 1.37 MYR is for.
Which stocks are comparable to GDB Holdings Bhd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 GDB Holdings Bhd stock attractive at the current price?
The data as of Sep 28, 2026: price 0.4200 MYR, calculated fair value 1.37 MYR (+226%), Quality Score 61/100, 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 0198 calculated?
We run GDB Holdings 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 1.37 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 14.5 % above its aggregate fair value. GDB Holdings Bhd currently trades 69 % 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 GDB Holdings Bhd (0198)?
The closing price on Oct 2, 2026 was 0.4200 MYR. Our model-based fair value is 1.37 MYR, about +226% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GDB Holdings Bhd right now?
The price is below even our cautious bear case (0.8700 MYR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (0.8700 MYR to 2.05 MYR) leaves room in how you read the outcome.
Key figures of GDB Holdings Bhd
How large is the market capitalisation of GDB Holdings Bhd (0198)?
The market capitalisation of GDB Holdings Bhd is 495M MYR (≈ $121M). 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 GDB Holdings Bhd (0198)?
The price-to-sales ratio of GDB Holdings Bhd is 0.51 (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 GDB Holdings Bhd (0198)?
Earnings per share at GDB Holdings Bhd are 0.0600 MYR (price ÷ EPS = P/E 7.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of GDB Holdings Bhd (0198)?
The dividend yield of GDB Holdings Bhd is 2.9% (payout 20.0%). 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 GDB Holdings Bhd (0198)?
The net margin of GDB Holdings Bhd is 7.3% (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 GDB Holdings Bhd (0198)?
The return on equity (ROE) of GDB Holdings Bhd is 22.2% (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 GDB Holdings Bhd (0198)?
On an EBIT basis the return on assets of GDB Holdings Bhd is 9.0% (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 GDB Holdings Bhd (0198)?
The operating margin of GDB Holdings Bhd is 15.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GDB Holdings Bhd (0198)?
Revenue at GDB Holdings Bhd is growing +15.7% versus a year earlier (3y avg +13.6%). 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 GDB Holdings Bhd (0198)?
Earnings per share at GDB Holdings Bhd are growing −1.0% versus a year earlier. How much earnings per share grew versus a year earlier.
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