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Alpha IVF Group (0303) Fair Value & Analysis

Healthcare · MY · Market cap 1.2B MYR

AI Alpha IVF Group 0303 · KLSE
Price0.2750 MYR
Fair Value0.2100 MYR
Upside-23.6%
Quality72/100
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Healthy Growth
Highly profitable · 28.4% net margin
Low debt · generates free cash flow
4.00% dividend yield
Ranks above peers (9/14)
Wide moat 90/100
Evidence: High Range 0.1600 MYR – 0.2700 MYR Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 25 days ago

Share price +10.0% over the past month.

A solid business, but screening 24% overvalued on our models.

What matters now

  • A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • Our model range runs from 0.1600 MYR (bear) to 0.2700 MYR (bull), base 0.2100 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 72/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (2 years)

0.3470 MYR 0.2400 MYR Fair Value 0.2100 MYR Mar 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

29‑month range 0.2400 MYR – 0.3470 MYR · fair‑value band 0.1600 MYR – 0.2700 MYR · the 0.2750 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 16, 2026.

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Analysis

Alpha IVF Group (0303) currently trades at 0.2750 MYR, while our model-based Fair Value estimate is 0.2100 MYR, implying the stock looks roughly 23.6% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Healthcare 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, Alpha IVF Group generated revenue of 197M MYR at a net margin of 28.4%. Revenue grew 16.1% year over year. It earns a return on equity of 29.6%. Net debt stands at 6.2M MYR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 0.1600 MYR (bear case) to 0.2700 MYR (bull case); at 0.2750 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 19% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at -24%, 0303 screens richer 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 0.1300 MYR 0.2200 MYR 0.3700 MYR 80
Residual Income 0.0600 MYR 0.0700 MYR 0.1900 MYR 76
Rev-Margin DCF 0.0900 MYR 0.1700 MYR 0.2900 MYR 74
All 26 models by family
DCF Models
FCF DCF 0.1400 MYR 0.2000 MYR 0.3900 MYR 38
Owner Earnings 0.1500 MYR 0.3100 MYR 0.6100 MYR 31
5Y Revenue Exit 0.0900 MYR 0.1500 MYR 0.2700 MYR 39
5Y EBITDA Exit 0.1600 MYR 0.2800 MYR 0.5200 MYR 41
5Y P/E Exit 0.1700 MYR 0.3500 MYR 0.6000 MYR 38
10Y Revenue Exit 0.1100 MYR 0.1900 MYR 0.2600 MYR 36
10Y EBITDA Exit 0.1500 MYR 0.3000 MYR 0.6000 MYR 37
10Y P/E Exit 0.1600 MYR 0.3300 MYR 0.6300 MYR 35
Earnings-Based
Graham-Dodd 0.0800 MYR 0.5600 MYR 0.7900 MYR 54
Lynch FV 0.1900 MYR 0.2700 MYR 0.3500 MYR 50
PEG = 1.0 0.1900 MYR 0.2700 MYR 0.3500 MYR 46
EPV 0.1000 MYR 0.1200 MYR 0.1300 MYR 59
Dividend Discount
Gordon GGM 0.0700 MYR 0.1300 MYR 0.1800 MYR 70
DDM Multi-Stage 0.0700 MYR 0.1200 MYR 0.1400 MYR 61
Multiples
P/E Multiple 0.1800 MYR 0.2400 MYR 0.3000 MYR 63
P/S Multiple 0.0700 MYR 0.0900 MYR 0.1100 MYR 58
P/B Multiple 0.0900 MYR 0.1200 MYR 0.1500 MYR 55
EV/EBIT 0.2100 MYR 0.2800 MYR 0.3500 MYR 53
EV/EBITDA 0.1700 MYR 0.2200 MYR 0.2800 MYR 54
EV/Revenue 0.0700 MYR 0.1000 MYR 0.1300 MYR 43
Asset-Based
NCAV (Graham) 0.0200 MYR 0.0300 MYR 0.0400 MYR 50
Growth DCF
Growth DCF 0.1300 MYR 0.2200 MYR 0.3700 MYR 80
Rev-Margin DCF 0.0900 MYR 0.1700 MYR 0.2900 MYR 74
Economic Profit
Residual Income 0.0600 MYR 0.0700 MYR 0.1900 MYR 76
ROIC Compounder 0.1200 MYR 0.1600 MYR 0.2100 MYR 72
Growth Earnings
Growth-Adj P/E 0.2400 MYR 0.3400 MYR 0.4500 MYR 68

Widest divergence: Growth Earnings (0.3400 MYR) versus Asset-Based (0.0300 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 197M MYR
Revenue growth (YoY) +16.1%
Net margin 28.4%
Return on equity 29.6%
Free cash flow 47.6M MYR FY2025
P/E ratio 24.0
More key figures
Operating margin 33.8%
EPS (TTM) 0.0100 MYR
Dividend yield 4.1%
EPS growth (YoY) +4.7%
Net debt 6.2M MYR FY2021

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 73 · Market factors (momentum, volatility) 53

Profitability 85
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 29
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 35
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

Alpha IVF Group Berhad, together with its subsidiaries, operates as a fertility care specialist that focuses on the provision of assisted reproductive services in Malaysia, Singapore, Indonesia, China, Middle East, the Philippines, and internationally.

Full company description

Alpha IVF Group Berhad, together with its subsidiaries, operates as a fertility care specialist that focuses on the provision of assisted reproductive services in Malaysia, Singapore, Indonesia, China, Middle East, the Philippines, and internationally. The company offers assisted reproductive treatment services comprising ovulation induction, intra-uterine insemination, in-vitro fertilization treatment, intra-cytoplasmic sperm injection, gamete intrafallopian transfer, and savior sibling program; preimplantation genetic testing; implantation optimisation; sperm sorting; and egg freezing, embryo freezing and cryo-storage, laparoscopic surgery, hysteroscopic surgery, 4D ultrasound scanning, and artificial intelligence-enhanced embryo selection services. It also provides various diagnostics, testing and screening procedures; cryopreservation of eggs and sperms; medical consultants; fertility, gynecological, and obstetric treatment; and other women-related healthcare and medical services. In addition, the company operates women's specialist centers. Alpha IVF Group Berhad was founded in 2011 and is based in Petaling Jaya, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Alpha IVF Group reported revenue of 177M MYR in FY2025 versus 62.1M MYR in FY2021, a compound +29.9%/yr. Reported net income was 57.5M MYR in FY2025.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
177M MYR
Latest YoY
+5.5%
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.
+24.7%
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.
+20.7%
Revenue +29.9%/yr
FY21 62.1M MYR
FY22 91.1M MYR
FY23 137M MYR
FY24 168M MYR
FY25 177M MYR
Net income
FY21 −3.1M MYR
FY22 14.3M MYR
FY23 53.2M MYR
FY24 52.9M MYR
FY25 57.5M MYR

0303 screens 24% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "Alpha IVF Group Fair Value". https://www.fairvalue-calculator.com/stock/0303

Peer Group

Medical Care Facilities · 261 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 72 · Top 25%
Fair Value upside −24% · Below median
Return on equity (TTM) 30% · Top 25%
Return on assets 18% · Top 25%
Net margin (TTM) 28% · Top 25%
Operating margin (TTM) 34% · Top 25%
Revenue growth 16% · Top 25%
Dividend yield (TTM) 4.0% · Top 25%

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 24.5× · Pricier than median
P/B 1.46× · Pricier than median
P/S (TTM) 1.48× · Pricier than median
P/FCF 6.1× · Pricier than median
EV/EBITDA 3.4× · 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 2 · sector 23
FUTURE 81 · sector 24
PAST 100 · sector 30
HEALTH 100 · sector 90
DIVIDEND 80 · sector 38

Insider activity: 35/100

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 Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.58 SGD 1.44 SGD -44%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,955 ₹2,955 -67%
Fresenius Medical Care AG FMS $24.68 $45.60 +85%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%

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Frequently asked questions

Is Alpha IVF Group (0303) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 0.2100 MYR versus a price of 0.2750 MYR, about −24% (overvalued).
What is the fair value of 0303?
Our model-based fair value for Alpha IVF Group is 0.2100 MYR (as of Jul 16, 2026), built from audited fundamentals. The current price is 0.2750 MYR.
What is the quality score of 0303?
Alpha IVF Group has a Quality Score of 72/100. 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 Alpha IVF Group (0303)?
Alpha IVF Group reported trailing-twelve-month revenue of about 197M MYR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of 0303?
The net profit margin of Alpha IVF Group is about 28.4%, meaning it keeps roughly 28.4% of revenue as net income. Based on the latest reported figures.
Does Alpha IVF Group pay a dividend?
Alpha IVF Group currently shows a dividend yield of about 4.08% relative to its recent price (as of Jul 16, 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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