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Agricore CS Holdings (0309) Fair Value & Analysis

Consumer Defensive · MY · Market cap 83.1M MYR

AC Agricore CS Holdings 0309 · KLSE
Price0.4100 MYR
Fair Value0.3000 MYR
Upside-26.8%
Quality54/100
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Mixed Growth
Thin margins · 3.0% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Narrow moat 38/100
Evidence: High Range 0.2100 MYR – 0.4400 MYR Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 26 days ago

Fair value updated Jul 15, 2026, revised from 0.2800 MYR to 0.3000 MYR (+7.1%) since Jul 6, 2026. Share price −3.5% over the past month.

A solid business, but screening 27% overvalued on our models.

What matters now

  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (0.2100 MYR to 0.4400 MYR) leaves room in how you read the outcome.
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Price vs Fair Value (2 years)

0.8278 MYR 0.3169 MYR Fair Value 0.3000 MYR Jun 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

26‑month range 0.3169 MYR – 0.8278 MYR · fair‑value band 0.2100 MYR – 0.4400 MYR · the 0.4100 MYR price screens above the 0.3000 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.

Full chart & analysis →

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Analysis

Agricore CS Holdings (0309) currently trades at 0.4100 MYR, while our model-based Fair Value estimate is 0.3000 MYR, implying the stock looks roughly 26.8% overvalued today. The Quality Score stands at 54/100 (solid 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, Agricore CS Holdings generated revenue of 131M MYR at a net margin of 3.0%. Revenue declined 13.9% year over year. It earns a return on equity of 7.1%. Net debt stands at 8.9M MYR. Fundamentals as of Jul 15, 2026

Our scenario range runs from 0.2100 MYR (bear case) to 0.4400 MYR (bull case); at 0.4100 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 19% below its 52-week high and 11% 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 -27%, 0309 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 0.1200 MYR 0.1600 MYR 0.2100 MYR 80
Residual Income 0.2000 MYR 0.2000 MYR 0.1900 MYR 76
Rev-Margin DCF 0.1800 MYR 0.2800 MYR 0.4000 MYR 74
All 26 models by family
DCF Models
FCF DCF 0.1200 MYR 0.1700 MYR 0.2200 MYR 38
Owner Earnings 0.1700 MYR 0.2300 MYR 0.3000 MYR 31
5Y Revenue Exit 0.1800 MYR 0.2800 MYR 0.4200 MYR 39
5Y EBITDA Exit 0.2300 MYR 0.3800 MYR 0.5500 MYR 41
5Y P/E Exit 0.1900 MYR 0.3200 MYR 0.4400 MYR 38
10Y Revenue Exit 0.1500 MYR 0.2300 MYR 0.3300 MYR 36
10Y EBITDA Exit 0.1800 MYR 0.2800 MYR 0.4200 MYR 37
10Y P/E Exit 0.1600 MYR 0.2500 MYR 0.3500 MYR 35
Earnings-Based
Graham-Dodd 0.1200 MYR 0.3500 MYR 0.4700 MYR 54
Lynch FV 0.0700 MYR 0.1100 MYR 0.1400 MYR 50
PEG = 1.0 0.0700 MYR 0.1100 MYR 0.1400 MYR 46
EPV 0.1400 MYR 0.1600 MYR 0.1700 MYR 59
Dividend Discount
Gordon GGM 0.0700 MYR 0.1200 MYR 0.1500 MYR 70
DDM Multi-Stage 0.0700 MYR 0.1000 MYR 0.1300 MYR 61
Multiples
P/E Multiple 0.2800 MYR 0.3700 MYR 0.4700 MYR 63
P/S Multiple 0.2300 MYR 0.3000 MYR 0.3800 MYR 58
P/B Multiple 0.2300 MYR 0.3000 MYR 0.3800 MYR 55
EV/EBIT 0.3200 MYR 0.4300 MYR 0.5300 MYR 53
EV/EBITDA 0.3500 MYR 0.4700 MYR 0.5900 MYR 54
EV/Revenue 0.2300 MYR 0.3300 MYR 0.4200 MYR 43
Asset-Based
NCAV (Graham) 0.1400 MYR 0.1900 MYR 0.2800 MYR 50
Growth DCF
Growth DCF 0.1200 MYR 0.1600 MYR 0.2100 MYR 80
Rev-Margin DCF 0.1800 MYR 0.2800 MYR 0.4000 MYR 74
Economic Profit
Residual Income 0.2000 MYR 0.2000 MYR 0.1900 MYR 76
ROIC Compounder 0.1400 MYR 0.1600 MYR 0.1700 MYR 72
Growth Earnings
Growth-Adj P/E 0.2300 MYR 0.3200 MYR 0.4200 MYR 68

Widest divergence: Multiples (0.3300 MYR) versus Dividend Discount (0.1000 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 131M MYR
Revenue growth (YoY) -13.9%
Net margin 3.0%
Return on equity 7.1%
Free cash flow 3.0M MYR FY2025
P/E ratio 19.5
More key figures
Operating margin 5.4%
EPS (TTM) 0.0200 MYR
EPS growth (YoY) +50.5%
Net debt 8.9M MYR FY2025

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

Quality Score breakdown

Overall quality 54/100

Of which business quality 54 · Market factors (momentum, volatility) 51

Profitability 46
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 32
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

Agricore CS Holdings Berhad, an investment holding company, engages in sourcing and distributing plant-based agricultural food ingredients in Malaysia and internationally. The company offers starch products, beans and pulses, grain products and other related products; and produces and sells food additives and fried shallots.

Full company description

Agricore CS Holdings Berhad, an investment holding company, engages in sourcing and distributing plant-based agricultural food ingredients in Malaysia and internationally. The company offers starch products, beans and pulses, grain products and other related products; and produces and sells food additives and fried shallots. It also provides staple food ingredient, including sprouting, sprouting nutrition, beans and peas, soybeans, flour products, consumer packaging products, and other products; and functional food ingredient, such as texturizer, preservative, nutritional, flavoring agent, batter coating, and firming agent. The company sells its products under the POKOK AGRICORE, SunRise, POKOK-POKOK, and CAP POKOK, and BAPAS brands, as well as third-party branded food ingredients. It serves its products to business end-users, wholesalers, and retailers. Agricore CS Holdings Berhad was incorporated in 2009 and is headquartered in Bukit Mertajam, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Agricore CS Holdings reported revenue of 136M MYR in FY2025 versus 101M MYR in FY2021, a compound +7.8%/yr. Reported net income was 3.6M MYR in FY2025, compounding −4.2%/yr from FY2021.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
136M 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.
+3.5%
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.
+8.9%
Revenue +7.8%/yr
FY21 101M MYR
FY22 123M MYR
FY23 135M MYR
FY24 144M MYR
FY25 136M MYR
Net income −4.2%/yr
FY21 4.3M MYR
FY22 7.1M MYR
FY23 6.8M MYR
FY24 −719K MYR
FY25 3.6M MYR

0309 screens 27% overvalued. Compare with Sysco Corporation →

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Cite: Fair Value Calculator (2026). "Agricore CS Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0309

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 54 · Above median
Fair Value upside −27% · Below median
Return on equity (TTM) 7% · Below median
Return on assets 4% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 5% · Above median
Revenue growth -14% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Food Distribution median · lower = cheaper

P/E (TTM) 20.5× · Pricier than median
P/B 0.36× · Cheaper than 75% of peers
P/S (TTM) 0.16× · Cheaper than median
P/FCF 6.7× · Pricier than median
EV/EBITDA 2.8× · 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 0 · sector 21
FUTURE 0 · sector 14
PAST 28 · sector 36
HEALTH 91 · sector 94
DIVIDEND 0 · sector 42

VALUE 0: the price sits above our fair-value range.

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 Agricore CS Holdings (0309) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 0.3000 MYR versus a price of 0.4100 MYR, about −27% (overvalued).
What is the fair value of 0309?
Our model-based fair value for Agricore CS Holdings is 0.3000 MYR (as of Jul 15, 2026), built from audited fundamentals. The current price is 0.4100 MYR.
What is the quality score of 0309?
Agricore CS Holdings has a Quality Score of 54/100. 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 Agricore CS Holdings (0309)?
Agricore CS Holdings reported trailing-twelve-month revenue of about 131M MYR (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 0309?
The net profit margin of Agricore CS Holdings is about 3.0%, meaning it keeps roughly 3.0% 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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