Securemetric Berhad (0203) Fair Value & Analysis
Technology · MY · Market cap 63.5M MYR
Fair value as of: Jul 13, 2026
From 24 valuation models · updated 28 days ago
Share price +9.1% over the past month.
A solid business, but screening 42% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (0.0900 MYR). The favourable scenario is already priced in.
- Solid but not exceptional quality (66/100) 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 13, 2026.
How to read this chart
60‑month range 0.0750 MYR – 0.2600 MYR · fair‑value band 0.0500 MYR – 0.0900 MYR · the 0.1200 MYR price screens above the 0.0700 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.
Analysis
Securemetric Berhad (0203) currently trades at 0.1200 MYR, while our model-based Fair Value estimate is 0.0700 MYR, implying the stock looks roughly 41.7% overvalued today. The Quality Score stands at 66/100 (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: high).
Over the trailing twelve months, Securemetric Berhad generated revenue of 46.3M MYR at a net margin of 5.5%. Revenue declined 24.3% year over year. It earns a return on equity of 5.9%. Fundamentals as of Jul 13, 2026
Our scenario range runs from 0.0500 MYR (bear case) to 0.0900 MYR (bull case); at 0.1200 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 29% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at -42%, 0203 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.
All 24 models by family
Widest divergence: DCF Models (0.1000 MYR) versus Earnings-Based (0.0300 MYR). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 36
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
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
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.
0203 screens 42% overvalued. Compare with Microsoft Corporation →
Peer Group
Software - Infrastructure · 370 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 Software - Infrastructure 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.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $384.00 | $274.17 | -29% |
| Oracle Corporation ORAC | C$9.08 | C$2.94 | -68% |
| Fortinet, Inc FTNT | $160.78 | $44.96 | -72% |
| Synopsys, Inc 1SNPS | €354.50 | €93.61 | -74% |
| Block, Inc XYZ | A$114.53 | A$70.69 | -38% |
| CoreWeave, Inc CRWV | $79.94 | $44.89 | -44% |
| Range Intelligent Computing Technology Group 300442 | ¥71.60 | ¥34.00 | -53% |
| Oracle Financial Services Software Limited OFSS | ₹11,651 | ₹5,821 | -50% |
| 360 Security Technology Inc 601360 | ¥9.64 | ¥5.05 | -48% |
| One97 Communications Limited PAYTM | ₹1,342 | ₹181.50 | -86% |
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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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