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Farm Price Holdings (0304) Fair Value & Analysis

Consumer Defensive · MY · Market cap 144M MYR

FP Farm Price Holdings 0304 · KLSE
Price0.3550 MYR
Fair Value0.3300 MYR
Upside-7.0%
Quality49/100
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Expensive Growth
Thin margins · 6.8% net margin
Low debt · negative free cash flow
Ranks above peers (10/12)
Moderate moat 51/100
Evidence: High Range 0.2300 MYR – 0.4300 MYR Share as image

Fair value as of: Jul 15, 2026

From 16 valuation models · updated 26 days ago

Share price +7.6% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (0.2300 MYR to 0.4300 MYR) leaves room in how you read the outcome.
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Price vs Fair Value (2 years)

0.7150 MYR 0.2950 MYR Fair Value 0.3300 MYR May 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

27‑month range 0.2950 MYR – 0.7150 MYR · fair‑value band 0.2300 MYR – 0.4300 MYR · the 0.3550 MYR price screens above the 0.3300 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Farm Price Holdings (0304) currently trades at 0.3550 MYR, while our model-based Fair Value estimate is 0.3300 MYR, implying the stock looks roughly 7.0% fairly valued today. The Quality Score stands at 49/100 (below-average quality), in the Consumer Defensive 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, Farm Price Holdings generated revenue of 133M MYR at a net margin of 6.8%. Revenue grew 15.2% year over year. It earns a return on equity of 14.0%. Net debt stands at 6.8M MYR. Fundamentals as of Jul 15, 2026

Our scenario range runs from 0.2300 MYR (bear case) to 0.4300 MYR (bull case); at 0.3550 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 28% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -26% fair-value upside, at -7%, 0304 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
Residual Income 0.1300 MYR 0.1500 MYR 0.2500 MYR 76
ROIC Compounder 0.1700 MYR 0.2000 MYR 0.2300 MYR 72
Gordon GGM 0.0200 MYR 0.0300 MYR 0.0300 MYR 70
All 16 models by family
Earnings-Based
Graham-Dodd 0.1400 MYR 0.5500 MYR 0.7400 MYR 54
Lynch FV 0.1400 MYR 0.1900 MYR 0.2500 MYR 50
PEG = 1.0 0.1400 MYR 0.1900 MYR 0.2500 MYR 46
EPV 0.1600 MYR 0.1800 MYR 0.1900 MYR 59
Dividend Discount
Gordon GGM 0.0200 MYR 0.0300 MYR 0.0300 MYR 70
DDM Multi-Stage 0.0200 MYR 0.0300 MYR 0.0300 MYR 61
Multiples
P/E Multiple 0.3000 MYR 0.4000 MYR 0.5100 MYR 63
P/S Multiple 0.2600 MYR 0.3400 MYR 0.4300 MYR 58
P/B Multiple 0.2600 MYR 0.3400 MYR 0.4300 MYR 55
EV/EBIT 0.3700 MYR 0.4900 MYR 0.6100 MYR 53
EV/EBITDA 0.3300 MYR 0.4400 MYR 0.5500 MYR 54
EV/Revenue 0.2500 MYR 0.3600 MYR 0.4600 MYR 43
Asset-Based
NCAV (Graham) 0.0700 MYR 0.1000 MYR 0.1500 MYR 50
Economic Profit
Residual Income 0.1300 MYR 0.1500 MYR 0.2500 MYR 76
ROIC Compounder 0.1700 MYR 0.2000 MYR 0.2300 MYR 72
Growth Earnings
Growth-Adj P/E 0.2300 MYR 0.3300 MYR 0.4300 MYR 68

Widest divergence: Multiples (0.3600 MYR) versus Dividend Discount (0.0300 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 133M MYR
Revenue growth (YoY) +15.2%
Net margin 6.8%
Return on equity 14.0%
Free cash flow −3.2M MYR FY2025
P/E ratio 15.5
More key figures
Operating margin 10.6%
EPS (TTM) 0.0200 MYR
EPS growth (YoY) +1.0%
Net debt 6.8M MYR FY2023

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 53 · Market factors (momentum, volatility) 46

Profitability 58
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 15
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 31
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

Farm Price Holdings Berhad, an investment holding company, primarily engages in the wholesale distribution of fresh vegetables in Malaysia and Singapore. The company operates through two segments: Wholesale Distribution and Retail. It offers whole, prepacked, and fresh-cut vegetables to wholesalers, retailers, food service operators, and manufacturers.

Full company description

Farm Price Holdings Berhad, an investment holding company, primarily engages in the wholesale distribution of fresh vegetables in Malaysia and Singapore. The company operates through two segments: Wholesale Distribution and Retail. It offers whole, prepacked, and fresh-cut vegetables to wholesalers, retailers, food service operators, and manufacturers. The company is also involved in the wholesale distribution of food and beverage (F&B) products, including packaged beverages, spices and seasonings, and other food products, as well as personal care products to retailers. In addition, the company operates Mamaku, a retail store that sells fresh vegetables, F&B products, and other groceries located in Ulu Tiram, Johor. Further, it is involved in the provision of warehousing and storage services; collection, packaging and processing of vegetables; export and import of fresh and preserved vegetables and fruits; and retail of vegetables and fruits. The company was formerly known as Farm Price Holdings Sdn Bhd and changed its name to Farm Price Holdings Berhad in June 2023. The company was incorporated in 2023 and is headquartered in Kulai, Malaysia. Farm Price Holdings Berhad is a subsidiary of Tlc Consolidation Sdn. Bhd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Farm Price Holdings reported revenue of 129M MYR in FY2025 versus 82.0M MYR in FY2021, a compound +11.9%/yr. Reported net income was 9.1M MYR in FY2025, compounding +30.8%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
129M MYR
Latest YoY
+4.6%
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.
+10.9%
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.
+11.8%
Revenue +11.9%/yr
FY21 82.0M MYR
FY22 94.4M MYR
FY23 114M MYR
FY24 123M MYR
FY25 129M MYR
Net income +30.8%/yr
FY21 3.1M MYR
FY22 4.7M MYR
FY23 8.7M MYR
FY24 10.3M MYR
FY25 9.1M MYR

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Cite: Fair Value Calculator (2026). "Farm Price Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0304

Peer Group

Food Distribution · 77 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 49 · Below median
Fair Value upside −7% · Above median
Return on equity (TTM) 14% · Above median
Return on assets 8% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 11% · Top 25%
Revenue growth 15% · Top 25%
Debt / equity 0.28× · Higher than median

Valuation Multiples vs Food Distribution median · lower = cheaper

P/E (TTM) 16.0× · Cheaper than median
P/B 0.52× · Cheaper than median
P/S (TTM) 0.27× · Cheaper than median
EV/EBITDA 2.0× · 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 24 · sector 21
FUTURE 76 · sector 14
PAST 56 · sector 36
HEALTH 86 · sector 94
DIVIDEND 0 · sector 42

Insider activity: 45/100

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 Food Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Sysco Corporation SYY $81.69 $60.58 -26%
US Foods Holding USFD $99.13 $55.10 -44%
Performance Food Group PFGC $113.17 $37.94 -66%
Jerónimo Martins, SGPS, S.A JMT €17.68 €21.59 +22%
CP Axtra Public Company CPAXT 14.90 THB 17.04 THB +14%
The Chefs' Warehouse, Inc CHEF $95.79 $37.27 -61%
Olam Group VC2 1.33 SGD 2.12 SGD +59%
United Natural Foods, Inc UNFI $50.19 $6.00 -88%
The Andersons, Inc ANDE $79.24 $47.78 -40%
Metcash Limited MTS A$2.92 A$5.33 +83%

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Frequently asked questions

Is Farm Price Holdings (0304) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 0.3300 MYR versus a price of 0.3550 MYR, about −7% (fairly valued).
What is the fair value of 0304?
Our model-based fair value for Farm Price Holdings is 0.3300 MYR (as of Jul 15, 2026), built from audited fundamentals. The current price is 0.3550 MYR.
What is the quality score of 0304?
Farm Price Holdings has a Quality Score of 49/100. 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 Farm Price Holdings (0304)?
Farm Price Holdings reported trailing-twelve-month revenue of about 133M MYR (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 0304?
The net profit margin of Farm Price Holdings is about 6.8%, meaning it keeps roughly 6.8% 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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