Topvision Eye Specialist Berhad (0332) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Topvision Eye Specialist Berhad MYR 0.14, price MYR 0.16, upside -12.5%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 0.1500 MYR – 0.6806 MYR · fair‑value band 0.0900 MYR – 0.1800 MYR · the 0.1600 MYR price screens above the 0.1400 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Topvision Eye Specialist Berhad, together with its subsidiaries, provides ophthalmology healthcare services in Malaysia.
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Topvision Eye Specialist Berhad, together with its subsidiaries, provides ophthalmology healthcare services in Malaysia. The company offers various eye care services for cataract, diabetic retinopathy, retinal detachment, glaucoma, age-related macular degeneration, pterygium, children's eye disorder, and other eye problems, including cornea ulcer, dry eyes, eyelid abscess, foreign body removal, subconjunctival hemorrhage, trauma, and viral conjunctivitis. It also engages in the provision of related medical consultancy services; marketing of eye supplements and health food products; retail sale of food and beverage; and import, export, and distribution of pharmaceuticals, medical devices and goods, cosmetics, and health supplements. The company was founded in 2010 and is headquartered in Shah Alam, Malaysia.
Stock analysis
Topvision Eye Specialist Berhad (0332) currently trades at 0.1600 MYR, while our model-based Fair Value estimate is 0.1400 MYR, implying the stock looks roughly 14.3% overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 0.2600 MYR per share, and 9 of the 25 models we run sit above the 0.1600 MYR price.
Bear case: the Asset-Based group reads lowest at 0.0900 MYR, and 16 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.0900 MYR (bear) to 0.1800 MYR (bull), the price of 0.1600 MYR sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 43/100 (below-average quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Topvision Eye Specialist Berhad reported revenue of 45.8M MYR in FY2025 versus 39.5M MYR in FY2022, a compound +5.1%/yr. Reported net income was 2.0M MYR in FY2025, compounding −31.2%/yr from FY2022.
Key figures
Market cap 49.6M MYR (≈ $12.2M) · P/S ratio 1.09 · Dividend yield 6.3% · Net margin 4.3% · Return on equity 2.9% · Return on assets (EBIT) 12.2% · Operating margin 7.6% · Revenue (TTM) 45.5M MYR.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 35% fair-value upside, at −13%, 0332 screens richer than that median.
Fair Value models
Bear 0.0900 MYRFair Value 0.1400 MYRBull 0.1800 MYR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+3.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+5.1%
’22
’23
’24
’25
What shareholders gained per year (last 3 years), in MYR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in MYR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−26.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−33.0%
Dividend (yield on the price)6.3%
Profit margin 2022 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.24% → 11%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +19.2% a year for the price.
Compare Topvision Eye Specialist Berhad with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Medical Care Facilities · 258 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside−13% · Below median
Profitability
Return on equity (TTM)3% · Below median
Return on assets4% · Above median
Net margin (TTM)3% · Below median
Operating margin (TTM)8% · Below median
Growth and dividend
Revenue growth−3% · Bottom 25%
Dividend yield (TTM)6.3% · Top 25%
Balance sheet
Debt / equity0.25× · Above median
Valuation Multiplesvs Medical Care Facilities median · lower = cheaper
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Is Topvision Eye Specialist Berhad (0332) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.1400 MYR versus a price of 0.1600 MYR, about −13% upside (overvalued).
What is the fair value of 0332?
Our model-based fair value for Topvision Eye Specialist Berhad is 0.1400 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.1600 MYR.
What is the quality score of 0332?
Topvision Eye Specialist Berhad has a Quality Score of 43/100. 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 price target for Topvision Eye Specialist Berhad (0332)?
Our model-based price target is the fair value of 0.1400 MYR (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 0.0900 MYR, optimistic scenario 0.1800 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Topvision Eye Specialist Berhad stock forecast for 2026?
Our models put fair value at 0.1400 MYR, about −13% upside versus a price of 0.1600 MYR (overvalued). Cautious scenario 0.0900 MYR, optimistic scenario 0.1800 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Topvision Eye Specialist Berhad (0332)?
Topvision Eye Specialist Berhad reported trailing-twelve-month revenue of about 45.5M MYR (latest available figure, as of Sep 24, 2026).
Does Topvision Eye Specialist Berhad pay a dividend?
Topvision Eye Specialist Berhad currently shows a dividend yield of about 6.25% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Topvision Eye Specialist Berhad (0332)?
For today's price to be fair in a discounted-cash-flow model, Topvision Eye Specialist Berhad would have to grow free cash flow by +21.6 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +5.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0332 use?
Our models discount Topvision Eye Specialist Berhad at 9.7 %: a base by market capitalisation (nano), damped by beta 0.01, country premium for Malaysia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Topvision Eye Specialist Berhad that is +21.6 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Topvision Eye Specialist Berhad (0332) delivered so far?
Over the past 3 years revenue at Topvision Eye Specialist Berhad grew +5.1 % a year. The price currently implies +21.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Topvision Eye Specialist Berhad (0332) growing?
The median revenue growth in the sector is +0.0 % a year. That is the yardstick for the growth priced into Topvision Eye Specialist Berhad (+21.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Topvision Eye Specialist Berhad (0332)?
The free-cash-flow yield on the price is 2.68 %: that much free cash flow Topvision Eye Specialist Berhad produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Topvision Eye Specialist Berhad (0332)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Topvision Eye Specialist Berhad it is 0.1400 MYR per share (as of Sep 24, 2026), against a price of 0.1600 MYR. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Topvision Eye Specialist Berhad stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0332 trades above its calculated fair value: price 0.1600 MYR, fair value 0.1400 MYR, a gap of about −13% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0332?
No. The price is what the market pays today (0.1600 MYR); the fair value is what the company's own numbers justify (0.1400 MYR). For Topvision Eye Specialist Berhad the two are 0.0200 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Topvision Eye Specialist Berhad worth?
The market values Topvision Eye Specialist Berhad at about 49.6M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 0.1600 MYR; our models calculate a fair value of 0.1400 MYR per share.
What do the bullish and bearish scenarios say about 0332?
Our models span a range for Topvision Eye Specialist Berhad: cautious scenario 0.0900 MYR, base 0.1400 MYR, optimistic 0.1800 MYR per share (as of Sep 24, 2026, price 0.1600 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Topvision Eye Specialist Berhad (0332)?
Balance-sheet figures for Topvision Eye Specialist Berhad (as of Sep 24, 2026): return on equity 2.9%, debt of 0.25 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 0332 from its 52-week high?
Topvision Eye Specialist Berhad trades at 0.1600 MYR, about 22% below its 52-week high of 0.2050 MYR and 7% above the low of 0.1500 MYR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 0.1400 MYR is for.
Which stocks are comparable to Topvision Eye Specialist Berhad?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Dr. Sulaiman Al Habib Medical Services Group, IHH Healthcare Berhad, an investment holding company,, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Topvision Eye Specialist Berhad stock attractive at the current price?
The data as of Sep 24, 2026: price 0.1600 MYR, calculated fair value 0.1400 MYR (−13%), Quality Score 43/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0332 calculated?
We run Topvision Eye Specialist Berhad through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 0.1400 MYR, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Topvision Eye Specialist Berhad itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Topvision Eye Specialist Berhad (0332)?
The closing price on Sep 23, 2026 was 0.1600 MYR. Our model-based fair value is 0.1400 MYR, about −13% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Topvision Eye Specialist Berhad right now?
A fairly wide model range (0.0900 MYR to 0.1800 MYR) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Topvision Eye Specialist Berhad
How large is the market capitalisation of Topvision Eye Specialist Berhad (0332)?
The market capitalisation of Topvision Eye Specialist Berhad is 49.6M MYR (≈ $12.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Topvision Eye Specialist Berhad (0332)?
The price-to-sales ratio of Topvision Eye Specialist Berhad is 1.09 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Topvision Eye Specialist Berhad (0332)?
The dividend yield of Topvision Eye Specialist Berhad is 6.3%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Topvision Eye Specialist Berhad (0332)?
The net margin of Topvision Eye Specialist Berhad is 4.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Topvision Eye Specialist Berhad (0332)?
The return on equity (ROE) of Topvision Eye Specialist Berhad is 2.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Topvision Eye Specialist Berhad (0332)?
On an EBIT basis the return on assets of Topvision Eye Specialist Berhad is 12.2% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Topvision Eye Specialist Berhad (0332)?
The operating margin of Topvision Eye Specialist Berhad is 7.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Topvision Eye Specialist Berhad (0332)?
Revenue at Topvision Eye Specialist Berhad is growing −2.7% versus a year earlier (3y avg +5.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Topvision Eye Specialist Berhad (0332)?
Earnings per share at Topvision Eye Specialist Berhad are growing −88.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Topvision Eye Specialist Berhad (0332) carry?
The net debt of Topvision Eye Specialist Berhad is 1.1M MYR (fiscal year 2025, ≈ 0.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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