Securemetric Berhad (0203) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Securemetric Berhad MYR 0.10, price MYR 0.11, upside -4.8%, quality 66 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 0.0750 MYR – 0.2600 MYR · fair‑value band 0.0800 MYR – 0.1300 MYR · the 0.1050 MYR price screens above the 0.1000 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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Securemetric Berhad provides digital security solutions in Malaysia, Vietnam, the Philippines, Indonesia, the United States, Singapore, and internationally. The company operates through Digital Security Solutions, Electronic Identification Products, Maintenance Services, and Others segments.
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Securemetric Berhad provides digital security solutions in Malaysia, Vietnam, the Philippines, Indonesia, the United States, Singapore, and internationally. The company operates through Digital Security Solutions, Electronic Identification Products, Maintenance Services, and Others segments. Its products include software licensing protection dongles for the prevention of unauthorized access, copy, imitation, and distribution of software; two-factor authentication that enhances access security by enforcing a second authentication factor through a randomly generated one-time password; public key infrastructure tokens; and CENTAGATE, a software that manages user authentication and supports multi-factor and multichannel authentication, and digital signing solution. The company also trades in electronic identification products and offers other related services. In addition, it sells smart cards, smart card readers, fingerprint readers, barcode scanners, and barcode printers; and provides labelling and packaging services. The company was founded in 2007 and is headquartered in Kuala Lumpur, Malaysia.
Stock analysis
Securemetric Berhad (0203) currently trades at 0.1050 MYR, while our model-based Fair Value estimate is 0.1000 MYR, implying the stock looks roughly 5.0% fairly valued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 0.1300 MYR per share, and 13 of the 24 models we run sit above the 0.1050 MYR price.
Bear case: the Earnings-Based group reads lowest at 0.0300 MYR, and 11 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.0800 MYR (bear) to 0.1300 MYR (bull), the price of 0.1050 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 66/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Securemetric Berhad reported revenue of 50.1M MYR in FY2025 versus 26.4M MYR in FY2021, a compound +17.4%/yr. Reported net income was 2.1M MYR in FY2025.
Key figures
Market cap 60.6M MYR (≈ $14.9M) · P/S ratio 1.37 · Net margin 4.2% · Return on equity 5.9% · Return on assets (EBIT) 3.0% · Operating margin 10.5% · Revenue (TTM) 46.3M MYR · Revenue growth (YoY) −24.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −19% fair-value upside, at −5%, 0203 screens cheaper than that median.
Fair Value models
Bear 0.0800 MYRFair Value 0.1000 MYRBull 0.1300 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.77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−21.8%
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.
+18.8%
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.
+13.1%
Start year 2020 (pandemic). Over 10 years: +11.4% a year
Revenue growth 10 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.
+11.4%
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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.
−2.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.2%
Dividend (yield on the price)0.0%
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.−2% vs −9%, picking up
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.−15% → 8%
Start year 2020 (pandemic)
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).
−4.8%
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 −6.7% 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.Software - Infrastructure · 383 stocks
Beats the industry median on 9/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside−5% · Above median
Profitability
Return on equity (TTM)6% · Above median
Return on assets4% · Above median
Net margin (TTM)5% · Above median
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth−24% · Bottom 25%
Valuation Multiplesvs Software - Infrastructure 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). "Securemetric Berhad Fair Value". https://www.fairvalue-calculator.com/stock/0203
Frequently asked questions
Is Securemetric Berhad (0203) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.1000 MYR versus a price of 0.1050 MYR, about −5% upside (fairly valued).
What is the fair value of 0203?
Our model-based fair value for Securemetric Berhad is 0.1000 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.1050 MYR.
What is the quality score of 0203?
Securemetric Berhad has a Quality Score of 66/100. 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 Securemetric Berhad (0203)?
Our model-based price target is the fair value of 0.1000 MYR (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 0.0800 MYR, optimistic scenario 0.1300 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Securemetric Berhad stock forecast for 2026?
Our models put fair value at 0.1000 MYR, about −5% upside versus a price of 0.1050 MYR (fairly valued). Cautious scenario 0.0800 MYR, optimistic scenario 0.1300 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Securemetric Berhad (0203)?
Securemetric Berhad reported trailing-twelve-month revenue of about 46.3M MYR (latest available figure, as of Sep 24, 2026).
What growth is priced into Securemetric Berhad (0203)?
For today's price to be fair in a discounted-cash-flow model, Securemetric Berhad would have to grow free cash flow by -4.8 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0203 use?
Our models discount Securemetric Berhad at 9.7 %: a base by market capitalisation (nano), damped by beta 0.28, 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 Securemetric Berhad that is -4.8 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Securemetric Berhad (0203) delivered so far?
Over the past 5 years revenue at Securemetric Berhad grew +13.1 % a year. The price currently implies -4.8 % 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 Securemetric Berhad (0203) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Securemetric Berhad (-4.8 % 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 Securemetric Berhad (0203)?
The free-cash-flow yield on the price is 5.96 %: that much free cash flow Securemetric Berhad produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Securemetric Berhad (0203)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Securemetric Berhad it is 0.1000 MYR per share (as of Sep 24, 2026), against a price of 0.1050 MYR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Securemetric Berhad stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0203 trades above its calculated fair value: price 0.1050 MYR, fair value 0.1000 MYR, a gap of about −5% (fairly valued). 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 0203?
No. The price is what the market pays today (0.1050 MYR); the fair value is what the company's own numbers justify (0.1000 MYR). For Securemetric Berhad the two are 0.0050 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Securemetric Berhad worth?
The market values Securemetric Berhad at about 60.6M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 0.1050 MYR; our models calculate a fair value of 0.1000 MYR per share.
What do the bullish and bearish scenarios say about 0203?
Our models span a range for Securemetric Berhad: cautious scenario 0.0800 MYR, base 0.1000 MYR, optimistic 0.1300 MYR per share (as of Sep 24, 2026, price 0.1050 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Securemetric Berhad (0203)?
Balance-sheet figures for Securemetric Berhad (as of Sep 24, 2026): return on equity 5.9%. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 0203 from its 52-week high?
Securemetric Berhad trades at 0.1050 MYR, about 34% below its 52-week high of 0.1600 MYR and 11% above the low of 0.0950 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.1000 MYR is for.
Which stocks are comparable to Securemetric Berhad?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, Palo Alto Networks, Inc, 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 Securemetric Berhad stock attractive at the current price?
The data as of Sep 24, 2026: price 0.1050 MYR, calculated fair value 0.1000 MYR (−5%), Quality Score 66/100, from 24 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 0203 calculated?
We run Securemetric Berhad through 24 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 0.1000 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 14.0 % above its aggregate fair value. Securemetric Berhad itself currently trades above fair value. 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 Securemetric Berhad (0203)?
The closing price on Sep 24, 2026 was 0.1050 MYR. Our model-based fair value is 0.1000 MYR, about −5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Securemetric Berhad right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Securemetric Berhad
How large is the market capitalisation of Securemetric Berhad (0203)?
The market capitalisation of Securemetric Berhad is 60.6M MYR (≈ $14.9M). 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 Securemetric Berhad (0203)?
The price-to-sales ratio of Securemetric Berhad is 1.37 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Securemetric Berhad (0203)?
The net margin of Securemetric Berhad is 4.2% (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 Securemetric Berhad (0203)?
The return on equity (ROE) of Securemetric Berhad is 5.9% (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 Securemetric Berhad (0203)?
On an EBIT basis the return on assets of Securemetric Berhad is 3.0% (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 Securemetric Berhad (0203)?
The operating margin of Securemetric Berhad is 10.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Securemetric Berhad (0203)?
Revenue at Securemetric Berhad is growing −24.3% versus a year earlier (3y avg +18.8%). 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 Securemetric Berhad (0203)?
Earnings per share at Securemetric Berhad are growing +80.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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