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DS Sigma Holdings (0269) Fair Value & Analysis

Consumer Cyclical · MY · Market cap 120M MYR

DS DS Sigma Holdings 0269 · KLSE
Price0.2500 MYR
Fair Value0.2100 MYR
Upside-16.0%
Quality52/100
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Weak Growth
Solidly profitable · 11.7% net margin
Low debt · generates free cash flow
4.00% dividend yield
Ranks above peers (11/14)
Moderate moat 45/100
Evidence: High Range 0.1900 MYR – 0.2600 MYR Share as image

Fair value as of: Jul 17, 2026

From 24 valuation models · updated 24 days ago

Share price −2.0% over the past month.

A solid business, but screening 16% overvalued on our models.

What matters now

  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from 0.1900 MYR (bear) to 0.2600 MYR (bull), base 0.2100 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 52/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (4 years)

0.6330 MYR 0.2018 MYR Fair Value 0.2100 MYR Jan 2023 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

43‑month range 0.2018 MYR – 0.6330 MYR · fair‑value band 0.1900 MYR – 0.2600 MYR · the 0.2500 MYR price screens above the 0.2100 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.

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Analysis

DS Sigma Holdings (0269) currently trades at 0.2500 MYR, while our model-based Fair Value estimate is 0.2100 MYR, implying the stock looks roughly 16.0% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Consumer Cyclical 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, DS Sigma Holdings generated revenue of 88.5M MYR at a net margin of 11.7%. Revenue declined 10.0% year over year. It earns a return on equity of 8.6%. Net debt stands at 1.5M MYR. Fundamentals as of Jul 17, 2026

Our scenario range runs from 0.1900 MYR (bear case) to 0.2600 MYR (bull case); at 0.2500 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 14% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -22% fair-value upside, at -16%, 0269 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 0.1100 MYR 0.1200 MYR 0.1500 MYR 80
Residual Income 0.1900 MYR 0.2000 MYR 0.2100 MYR 76
Rev-Margin DCF 0.1600 MYR 0.2400 MYR 0.3200 MYR 74
All 24 models by family
DCF Models
FCF DCF 0.1000 MYR 0.1200 MYR 0.1500 MYR 38
Owner Earnings 0.1100 MYR 0.1300 MYR 0.1700 MYR 31
5Y Revenue Exit 0.1600 MYR 0.2300 MYR 0.3400 MYR 39
5Y EBITDA Exit 0.1800 MYR 0.2600 MYR 0.3600 MYR 41
5Y P/E Exit 0.2000 MYR 0.2900 MYR 0.4100 MYR 38
10Y Revenue Exit 0.1300 MYR 0.1700 MYR 0.2200 MYR 36
10Y EBITDA Exit 0.1400 MYR 0.1900 MYR 0.2400 MYR 37
10Y P/E Exit 0.1500 MYR 0.2100 MYR 0.2600 MYR 35
Earnings-Based
Graham-Dodd 0.1500 MYR 0.1900 MYR 0.2100 MYR 54
EPV 0.1700 MYR 0.1900 MYR 0.2000 MYR 59
Dividend Discount
Gordon GGM 0.0700 MYR 0.0700 MYR 0.0800 MYR 70
DDM Multi-Stage 0.0700 MYR 0.0800 MYR 0.0900 MYR 61
Multiples
P/E Multiple 0.2900 MYR 0.3800 MYR 0.4800 MYR 63
P/S Multiple 0.2100 MYR 0.2800 MYR 0.3500 MYR 58
P/B Multiple 0.2900 MYR 0.3800 MYR 0.4800 MYR 55
EV/EBIT 0.2900 MYR 0.3700 MYR 0.4600 MYR 53
EV/EBITDA 0.2700 MYR 0.3500 MYR 0.4300 MYR 54
EV/Revenue 0.2300 MYR 0.3200 MYR 0.4000 MYR 43
Asset-Based
NCAV (Graham) 0.1300 MYR 0.1700 MYR 0.2500 MYR 50
Growth DCF
Growth DCF 0.1100 MYR 0.1200 MYR 0.1500 MYR 80
Rev-Margin DCF 0.1600 MYR 0.2400 MYR 0.3200 MYR 74
Economic Profit
Residual Income 0.1900 MYR 0.2000 MYR 0.2100 MYR 76
ROIC Compounder 0.1700 MYR 0.1900 MYR 0.2000 MYR 72
Growth Earnings
Growth-Adj P/E 0.2000 MYR 0.2900 MYR 0.3800 MYR 68

Widest divergence: Multiples (0.3500 MYR) versus Dividend Discount (0.0700 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 88.5M MYR
Revenue growth (YoY) -10.0%
Net margin 11.7%
Return on equity 8.6%
Free cash flow 4.5M MYR FY2025
P/E ratio 12.5
More key figures
Operating margin 5.9%
EPS (TTM) 0.0200 MYR
Dividend yield 4.0%
EPS growth (YoY) -47.8%
Net debt 1.5M MYR FY2021

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 54 · Market factors (momentum, volatility) 56

Profitability 47
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 20
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 51
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

DS Sigma Holdings Berhad, an investment holding company, engages in manufacturing, supplying, and trading of packaging materials and paper products in Malaysia. The company manufactures corrugated paper packaging products, such as cartons, protective packaging, and paper pallets, as well as trays.

Full company description

DS Sigma Holdings Berhad, an investment holding company, engages in manufacturing, supplying, and trading of packaging materials and paper products in Malaysia. The company manufactures corrugated paper packaging products, such as cartons, protective packaging, and paper pallets, as well as trays. It also supplies non-paper based protective packaging products comprising plastic, foam, rubber products, and engineered plywood pallets. The company serves electrical and electronics, automotive, and furniture industries, as well as renewable energy sector. The company was founded in 2002 and is headquartered in Puchong, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

DS Sigma Holdings reported revenue of 89.4M MYR in FY2025 versus 128M MYR in FY2021, a compound −8.6%/yr. Reported net income was 10.8M MYR in FY2025, compounding −14.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
89.4M MYR
Latest YoY
+0.6%
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.
−9.6%
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.
+0.8%
Revenue −8.6%/yr
FY21 128M MYR
FY22 121M MYR
FY23 82.3M MYR
FY24 88.8M MYR
FY25 89.4M MYR
Net income −14.6%/yr
FY21 20.3M MYR
FY22 21.0M MYR
FY23 8.2M MYR
FY24 11.0M MYR
FY25 10.8M MYR

0269 screens 16% overvalued. Compare with Stora Enso Oyj →

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Cite: Fair Value Calculator (2026). "DS Sigma Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0269

Peer Group

Packaging & Containers · 272 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 52 · Below median
Fair Value upside −16% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 5% · Above median
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 6% · Above median
Revenue growth -10% · Bottom 25%
Dividend yield (TTM) 4.0% · Above median

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/E (TTM) 12.5× · Cheaper than median
P/B 0.24× · Cheaper than 75% of peers
P/S (TTM) 0.33× · Cheaper than median
P/FCF 6.5× · Pricier than median
EV/EBITDA 0.8× · 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 12 · sector 9
FUTURE 0 · sector 1
PAST 34 · sector 21
HEALTH 100 · sector 92
DIVIDEND 80 · sector 42

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

Stock Price Fair Value vs Fair Value
Stora Enso Oyj STER kr 101.90 kr 126.39 +24%
ShenZhen YUTO Packaging Technology Co 002831 ¥29.10 ¥20.88 -28%
SCG Packaging Public Company SCGP 29.00 THB 16.12 THB -44%
AblePrint Technology Co 7734 2,850 TWD 661.69 TWD -77%
PT Fajar Surya Wisesa Tbk, FASW 5,312 IDR 1,194 IDR -78%
Taiwan Hon Chuan Enterprise Co 9939 132.50 TWD 127.06 TWD -4%
Time Technoplast Limited TIMETECHNO ₹206.82 ₹161.42 -22%
EPL Limited 500135 ₹222.25 ₹111.65 -50%
Ton Yi Industrial Corp 9907 15.15 TWD 23.17 TWD +53%
Dongwon Systems Corporation 014820 19,330 KRW 31,473 KRW +63%

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Frequently asked questions

Is DS Sigma Holdings (0269) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 0.2100 MYR versus a price of 0.2500 MYR, about −16% (overvalued).
What is the fair value of 0269?
Our model-based fair value for DS Sigma Holdings is 0.2100 MYR (as of Jul 17, 2026), built from audited fundamentals. The current price is 0.2500 MYR.
What is the quality score of 0269?
DS Sigma Holdings has a Quality Score of 52/100. 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 DS Sigma Holdings (0269)?
DS Sigma Holdings reported trailing-twelve-month revenue of about 88.5M MYR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 0269?
The net profit margin of DS Sigma Holdings is about 11.7%, meaning it keeps roughly 11.7% of revenue as net income. Based on the latest reported figures.
Does DS Sigma Holdings pay a dividend?
DS Sigma Holdings currently shows a dividend yield of about 3.77% relative to its recent price (as of Jul 17, 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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