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Gagasan Nadi Cergas Berhad, an investment holding company, (0206) Fair Value & Analysis

Real Estate · MY · Market cap 256M MYR

GN Gagasan Nadi Cergas Berhad, an investment holding company, 0206 · KLSE
Price0.3200 MYR
Fair Value0.8500 MYR
Upside+165.6%
Quality68/100
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Healthy Growth
Solidly profitable · 19.5% net margin
Moderate debt · generates free cash flow
5.88% dividend yield
Ranks above peers (12/14)
Moderate moat 64/100
Evidence: High Range 0.5770 MYR – 1.13 MYR Share as image

Fair value as of: Jul 13, 2026

From 14 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from 0.8800 MYR to 0.8500 MYR (−3.4%) since Jun 26, 2026. Share price −5.9% over the past month.

A solid business, screening 166% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.5770 MYR). The market is more pessimistic than our downside scenario.
  • Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (0.5770 MYR to 1.13 MYR) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

0.4373 MYR 0.2013 MYR Fair Value 0.8500 MYR Apr 2020 Aug 2026

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 0.2013 MYR – 0.4373 MYR · fair‑value band 0.5770 MYR – 1.13 MYR · the 0.3200 MYR price screens below the 0.8500 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.

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Analysis

Gagasan Nadi Cergas Berhad, an investment holding company, (0206) currently trades at 0.3200 MYR, while our model-based Fair Value estimate is 0.8500 MYR, implying the stock looks roughly 165.6% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Gagasan Nadi Cergas Berhad, an investment holding company, generated revenue of 408M MYR at a net margin of 19.5%. Revenue declined 5.9% year over year. It earns a return on equity of 17.5%. Net debt stands at 154M MYR. Fundamentals as of Jul 13, 2026

Our scenario range runs from 0.5770 MYR (bear case) to 1.13 MYR (bull case); at 0.3200 MYR, the current price sits below 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 27% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 166%, 0206 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.

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
Highest evidence
Growth DCF 1.63 MYR 2.63 MYR 4.00 MYR 80
Residual Income 0.6100 MYR 0.7000 MYR 1.17 MYR 76
Rev-Margin DCF 1.45 MYR 2.52 MYR 3.96 MYR 74
All 14 models by family
DCF Models
FCF DCF 1.68 MYR 2.87 MYR 4.66 MYR 38
5Y Revenue Exit 1.45 MYR 2.55 MYR 4.04 MYR 39
5Y EBITDA Exit 1.73 MYR 3.14 MYR 4.94 MYR 41
10Y Revenue Exit 1.48 MYR 2.47 MYR 4.00 MYR 36
10Y EBITDA Exit 1.67 MYR 2.85 MYR 4.66 MYR 37
Multiples
P/S Multiple 1.25 MYR 1.67 MYR 2.08 MYR 58
P/B Multiple 1.04 MYR 1.39 MYR 1.74 MYR 55
EV/EBIT 2.50 MYR 3.36 MYR 4.22 MYR 53
EV/EBITDA 1.94 MYR 2.62 MYR 3.30 MYR 54
EV/Revenue 1.33 MYR 1.95 MYR 2.56 MYR 43
Asset-Based
NCAV (Graham) 0.3500 MYR 0.4700 MYR 0.7000 MYR 50
Growth DCF
Growth DCF 1.63 MYR 2.63 MYR 4.00 MYR 80
Rev-Margin DCF 1.45 MYR 2.52 MYR 3.96 MYR 74
Economic Profit
Residual Income 0.6100 MYR 0.7000 MYR 1.17 MYR 76

Widest divergence: DCF Models (2.85 MYR) versus Asset-Based (0.4700 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 408M MYR
Revenue growth (YoY) -5.9%
Net margin 19.5%
Return on equity 17.5%
Free cash flow 137M MYR FY2025
P/E ratio 3.1
More key figures
Operating margin 25.2%
EPS (TTM) 0.1100 MYR
Dividend yield 5.9%
EPS growth (YoY) +75.7%
Net debt 154M MYR FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 69 · Market factors (momentum, volatility) 46

Profitability 40
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 98
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Gagasan Nadi Cergas Berhad, an investment holding company, engages in the development of residential, commercial, and industrial property in Malaysia. The company operates through Construction, Concession and Facility Management, Utility Services, Property Development, and Other segments.

Full company description

Gagasan Nadi Cergas Berhad, an investment holding company, engages in the development of residential, commercial, and industrial property in Malaysia. The company operates through Construction, Concession and Facility Management, Utility Services, Property Development, and Other segments. The Construction segment offers conceptual design and advisory, and complete services comprising design, coordination, and obtaining authorities approvals and underwriting complete cost and financing, as well as design development services. The Concession and Facility Management segment is involved in the undertaking and provision of various concession and asset management services involving comprehensive maintenance and schedule refurbishment and replacement of assets. The Utility segment operates district cooling system, including thermal energy storage tank and related facilities for the supply of chilled water. The company also offers properties investment, management, consultancy, and facility management services. In addition, it operates and maintains power related services, as well as electricity distribution systems. Gagasan Nadi Cergas Berhad was founded in 1995 and is headquartered in Petaling Jaya, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Gagasan Nadi Cergas Berhad, an investment holding company, reported revenue of 414M MYR in FY2025 versus 199M MYR in FY2021, a compound +20.1%/yr. Reported net income was 73.8M MYR in FY2025, compounding +114.9%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
414M MYR
Latest YoY
+57.5%
Avg. growth/yr (3Y) 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.
+21.0%
Avg. growth/yr (5Y) 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.
+14.9%
Avg. growth/yr (10Y) 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.
+7.2%
Revenue +20.1%/yr
FY21 199M MYR
FY22 234M MYR
FY23 318M MYR
FY24 263M MYR
FY25 414M MYR
Net income +114.9%/yr
FY21 3.5M MYR
FY22 −3.4M MYR
FY23 2.4M MYR
FY24 5.9M MYR
FY25 73.8M MYR

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Cite: Fair Value Calculator (2026). "Gagasan Nadi Cergas Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/0206

Peer Group

Real Estate - Development · 588 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.

Quality Score 69 · Top 25%
Fair Value upside +166% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 3% · Top 25%
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 25% · Top 25%
Revenue growth -6% · Below median
Dividend yield (TTM) 5.9% · Top 25%
Debt / equity 0.59× · Higher than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 3.1× · Cheaper than 75% of peers
P/B 0.12× · Cheaper than 75% of peers
P/S (TTM) 0.15× · Cheaper than 75% of peers
P/FCF 0.5× · Cheaper than median
EV/EBITDA 2.3× · Cheaper than 75% of peers

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 100 · sector 48
FUTURE 0 · sector 0
PAST 70 · sector 10
HEALTH 70 · sector 84
DIVIDEND 100 · sector 38

Insider activity: 30/100

Values & ESG

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

None of the checked exposures detected

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

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Gagasan Nadi Cergas Berhad, an investment holding company, (0206) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 0.8500 MYR versus a price of 0.3200 MYR, about +166% (undervalued).
What is the fair value of 0206?
Our model-based fair value for Gagasan Nadi Cergas Berhad, an investment holding company, is 0.8500 MYR (as of Jul 13, 2026), built from audited fundamentals. The current price is 0.3200 MYR.
What is the quality score of 0206?
Gagasan Nadi Cergas Berhad, an investment holding company, has a Quality Score of 68/100. 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 revenue of Gagasan Nadi Cergas Berhad, an investment holding company, (0206)?
Gagasan Nadi Cergas Berhad, an investment holding company, reported trailing-twelve-month revenue of about 408M MYR (latest available figure, as of Jul 13, 2026).
What is the net profit margin of 0206?
The net profit margin of Gagasan Nadi Cergas Berhad, an investment holding company, is about 19.5%, meaning it keeps roughly 19.5% of revenue as net income. Based on the latest reported figures.
Does Gagasan Nadi Cergas Berhad, an investment holding company, pay a dividend?
Gagasan Nadi Cergas Berhad, an investment holding company, currently shows a dividend yield of about 5.56% relative to its recent price (as of Jul 13, 2026).

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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