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Aneka Jaringan Holdings (0226) Fair Value & Analysis

Industrials · MY · Market cap 79.9M MYR

AJ Aneka Jaringan Holdings 0226 · KLSE
Price0.1100 MYR
Fair Value0.1500 MYR
Upside+36.4%
Quality51/100
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Healthy Growth
Thin margins · 1.4% net margin
Low debt · generates free cash flow
Ranks above peers (8/12)
Narrow moat 28/100
Evidence: High Range 0.1100 MYR – 0.1900 MYR Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 24 days ago

A solid business, screening 36% undervalued on our models.

What matters now

  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from 0.1100 MYR (bear) to 0.1900 MYR (bull), base 0.1500 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 51/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

0.3150 MYR 0.1050 MYR Fair Value 0.1500 MYR Feb 2021 Aug 2026

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 0.1050 MYR – 0.3150 MYR · fair‑value band 0.1100 MYR – 0.1900 MYR · the 0.1100 MYR price screens below the 0.1500 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.

Full chart & analysis →

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Analysis

Aneka Jaringan Holdings (0226) currently trades at 0.1100 MYR, while our model-based Fair Value estimate is 0.1500 MYR, implying the stock looks roughly 36.4% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials 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, Aneka Jaringan Holdings generated revenue of 271M MYR at a net margin of 1.4%. Revenue grew 13.8% year over year. It earns a return on equity of 4.7%. Net debt stands at 15.2M MYR. Fundamentals as of Jul 17, 2026

Our scenario range runs from 0.1100 MYR (bear case) to 0.1900 MYR (bull case); at 0.1100 MYR, the current price sits within 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 33% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 36%, 0226 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 0.4200 MYR 0.6100 MYR 0.8500 MYR 80
Residual Income 0.1000 MYR 0.0900 MYR 0.0800 MYR 76
Rev-Margin DCF 0.2700 MYR 0.3700 MYR 0.5000 MYR 74
All 26 models by family
DCF Models
FCF DCF 0.4300 MYR 0.6400 MYR 0.9300 MYR 38
Owner Earnings 0.0500 MYR 0.0600 MYR 0.0700 MYR 31
5Y Revenue Exit 0.2700 MYR 0.3600 MYR 0.4800 MYR 39
5Y EBITDA Exit 0.3600 MYR 0.5400 MYR 0.7700 MYR 41
5Y P/E Exit 0.2600 MYR 0.3400 MYR 0.4300 MYR 38
10Y Revenue Exit 0.3300 MYR 0.4300 MYR 0.5700 MYR 36
10Y EBITDA Exit 0.3800 MYR 0.5400 MYR 0.7700 MYR 37
10Y P/E Exit 0.3300 MYR 0.4200 MYR 0.5400 MYR 35
Earnings-Based
Graham-Dodd 0.0500 MYR 0.2100 MYR 0.2800 MYR 54
Lynch FV 0.0500 MYR 0.0800 MYR 0.1000 MYR 50
PEG = 1.0 0.0500 MYR 0.0800 MYR 0.1000 MYR 46
EPV 0.1200 MYR 0.1300 MYR 0.1400 MYR 59
Dividend Discount
Gordon GGM 0.0100 MYR 0.0100 MYR 0.0100 MYR 70
DDM Multi-Stage 0.0100 MYR 0.0100 MYR 0.0100 MYR 61
Multiples
P/E Multiple 0.1100 MYR 0.1500 MYR 0.1900 MYR 63
P/S Multiple 0.0900 MYR 0.1200 MYR 0.1500 MYR 58
P/B Multiple 0.0900 MYR 0.1200 MYR 0.1500 MYR 55
EV/EBIT 0.2000 MYR 0.2600 MYR 0.3200 MYR 53
EV/EBITDA 0.3300 MYR 0.4400 MYR 0.5400 MYR 54
EV/Revenue 0.1500 MYR 0.2100 MYR 0.2600 MYR 43
Asset-Based
NCAV (Graham) 0.0700 MYR 0.0900 MYR 0.1400 MYR 50
Growth DCF
Growth DCF 0.4200 MYR 0.6100 MYR 0.8500 MYR 80
Rev-Margin DCF 0.2700 MYR 0.3700 MYR 0.5000 MYR 74
Economic Profit
Residual Income 0.1000 MYR 0.0900 MYR 0.0800 MYR 76
ROIC Compounder 0.1200 MYR 0.1300 MYR 0.1400 MYR 72
Growth Earnings
Growth-Adj P/E 0.0900 MYR 0.1300 MYR 0.1700 MYR 68

Widest divergence: DCF Models (0.4200 MYR) versus Dividend Discount (0.0100 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 271M MYR
Revenue growth (YoY) +13.8%
Net margin 1.4%
Return on equity 4.7%
Free cash flow 30.7M MYR FY2025
P/E ratio 11.5
More key figures
Operating margin 2.2%
EPS (TTM) 0.0100 MYR
EPS growth (YoY) +26.7%
Net debt 15.2M MYR FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 33

Profitability 33
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 38
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

Aneka Jaringan Holdings Berhad, an investment holding company, engages in the foundation and basement construction businesses primarily in Malaysia and Indonesia.

Full company description

Aneka Jaringan Holdings Berhad, an investment holding company, engages in the foundation and basement construction businesses primarily in Malaysia and Indonesia. It also engages in the civil engineering works; rental business of construction machineries and equipment; engineering, procurement, construction and commissioning of solar photovoltaic systems and renewable energy (RE) facilities; and provision of RE and environmental consulting services, and operations and maintenance services, as well as builds, owns, and operates RE facilities. The company was formerly known as Aneka Jaringan Holdings Sdn Bhd. Aneka Jaringan Holdings Berhad was founded in 2001 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

Aneka Jaringan Holdings reported revenue of 258M MYR in FY2025 versus 122M MYR in FY2021, a compound +20.6%/yr. Reported net income was 5.0M MYR in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
258M MYR
Latest YoY
+22.2%
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.
+15.1%
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.
+13.8%
Avg. growth/yr (8Y) ⓘ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.
+5.3%
Revenue +20.6%/yr
FY21 122M MYR
FY22 169M MYR
FY23 190M MYR
FY24 211M MYR
FY25 258M MYR
Net income
FY21 −21.4M MYR
FY22 −33.0M MYR
FY23 −13.7M MYR
FY24 3.2M MYR
FY25 5.0M MYR

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Aneka Jaringan Holdings · Fair Value
0.1500 MYR +36%Fair Value
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Cite: Fair Value Calculator (2026). "Aneka Jaringan Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0226

Peer Group

Engineering & Construction · 839 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 51 · Above median
Fair Value upside +36% · Above median
Return on equity (TTM) 5% · Below median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth 14% · Above median
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 11.5× · Cheaper than median
P/B 0.20× · Cheaper than 75% of peers
P/S (TTM) 0.07× · Cheaper than 75% of peers
P/FCF 0.6× · Cheaper than median

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 82 · sector 16
FUTURE 69 · sector 17
PAST 19 · sector 26
HEALTH 99 · sector 94
DIVIDEND 0 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Aneka Jaringan Holdings (0226) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 0.1500 MYR versus a price of 0.1100 MYR, about +36% (undervalued).
What is the fair value of 0226?
Our model-based fair value for Aneka Jaringan Holdings is 0.1500 MYR (as of Jul 17, 2026), built from audited fundamentals. The current price is 0.1100 MYR.
What is the quality score of 0226?
Aneka Jaringan Holdings has a Quality Score of 51/100. 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 Aneka Jaringan Holdings (0226)?
Aneka Jaringan Holdings reported trailing-twelve-month revenue of about 271M MYR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 0226?
The net profit margin of Aneka Jaringan Holdings is about 1.4%, meaning it keeps roughly 1.4% of revenue as net income. Based on the latest reported figures.

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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