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Topvision Eye Specialist Berhad, (0332) Fair Value & Analysis

Healthcare · MY · Market cap 48.0M MYR

TE Topvision Eye Specialist Berhad, 0332 · KLSE
Price0.1600 MYR
Fair Value0.1300 MYR
Upside-18.8%
Quality43/100
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Healthy Growth
Thin margins · 2.7% net margin
Low debt · generates free cash flow
6.25% dividend yield
Trails peers (5/13)
Narrow moat 36/100
Evidence: Medium Range 0.1000 MYR – 0.1600 MYR Share as image

Fair value as of: Jul 17, 2026

From 25 valuation models · updated 24 days ago

Share price −5.9% over the past month.

Below-average quality, and screening another 19% overvalued on our models.

What matters now

  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • Our model range runs from 0.1000 MYR (bear) to 0.1600 MYR (bull), base 0.1300 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 43/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

0.6806 MYR 0.1500 MYR Fair Value 0.1300 MYR Mar 2021 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

60‑month range 0.1500 MYR – 0.6806 MYR · fair‑value band 0.1000 MYR – 0.1600 MYR · the 0.1600 MYR price screens above the 0.1300 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.

Full chart & analysis →

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Analysis

Topvision Eye Specialist Berhad, (0332) currently trades at 0.1600 MYR, while our model-based Fair Value estimate is 0.1300 MYR, implying the stock looks roughly 18.8% overvalued today. The Quality Score stands at 43/100 (below-average 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: medium).

Over the trailing twelve months, Topvision Eye Specialist Berhad, generated revenue of 45.5M MYR at a net margin of 2.8%. Revenue declined 2.7% year over year. It earns a return on equity of 2.9%. Net debt stands at 1.1M MYR. Fundamentals as of Jul 17, 2026

Our scenario range runs from 0.1000 MYR (bear case) to 0.1600 MYR (bull case); at 0.1600 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 35% 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 11% fair-value upside, at -19%, 0332 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 0.0300 MYR 0.0400 MYR 0.0500 MYR 80
Residual Income 0.1000 MYR 0.0900 MYR 0.0800 MYR 76
Rev-Margin DCF 0.0800 MYR 0.1300 MYR 0.1800 MYR 74
All 25 models by family
DCF Models
FCF DCF 0.0300 MYR 0.0400 MYR 0.0600 MYR 38
Owner Earnings 0.0400 MYR 0.0500 MYR 0.0600 MYR 31
5Y Revenue Exit 0.0800 MYR 0.1300 MYR 0.1900 MYR 39
5Y EBITDA Exit 0.0900 MYR 0.1500 MYR 0.2200 MYR 41
5Y P/E Exit 0.0500 MYR 0.0700 MYR 0.1000 MYR 38
10Y Revenue Exit 0.0500 MYR 0.0900 MYR 0.1400 MYR 36
10Y EBITDA Exit 0.0600 MYR 0.1000 MYR 0.1600 MYR 37
10Y P/E Exit 0.0400 MYR 0.0600 MYR 0.0800 MYR 35
Earnings-Based
Graham-Dodd 0.0400 MYR 0.1000 MYR 0.1300 MYR 54
PEG = 1.0 0.0200 MYR 0.0300 MYR 0.0300 MYR 46
EPV 0.0900 MYR 0.1000 MYR 0.1100 MYR 59
Dividend Discount
Gordon GGM 0.1400 MYR 0.2100 MYR 0.2700 MYR 70
DDM Multi-Stage 0.1400 MYR 0.1900 MYR 0.2300 MYR 61
Multiples
P/E Multiple 0.0700 MYR 0.0900 MYR 0.1100 MYR 63
P/S Multiple 0.0800 MYR 0.1100 MYR 0.1400 MYR 58
P/B Multiple 0.0800 MYR 0.1100 MYR 0.1400 MYR 55
EV/EBIT 0.1200 MYR 0.1600 MYR 0.2000 MYR 53
EV/EBITDA 0.1600 MYR 0.2100 MYR 0.2700 MYR 54
EV/Revenue 0.1200 MYR 0.1800 MYR 0.2300 MYR 43
Asset-Based
NCAV (Graham) 0.0700 MYR 0.0900 MYR 0.1400 MYR 50
Growth DCF
Growth DCF 0.0300 MYR 0.0400 MYR 0.0500 MYR 80
Rev-Margin DCF 0.0800 MYR 0.1300 MYR 0.1800 MYR 74
Economic Profit
Residual Income 0.1000 MYR 0.0900 MYR 0.0800 MYR 76
ROIC Compounder 0.0900 MYR 0.1000 MYR 0.1100 MYR 72
Growth Earnings
Growth-Adj P/E 0.0500 MYR 0.0800 MYR 0.1000 MYR 68

Widest divergence: Dividend Discount (0.1900 MYR) versus Growth DCF (0.0400 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 45.5M MYR
Revenue growth (YoY) -2.7%
Net margin 2.7%
Return on equity 2.9%
Free cash flow 1.3M MYR FY2025
Operating margin 7.6%
More key figures
Dividend yield 6.3%
EPS growth (YoY) -88.7%
Net debt 1.1M MYR FY2025

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

Quality Score breakdown

Overall quality 43/100

Of which business quality 46 · Market factors (momentum, volatility) 37

Profitability 36
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 22
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 46
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

Topvision Eye Specialist Berhad, together with its subsidiaries, provides ophthalmology healthcare services in Malaysia.

Full company description

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.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

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.

Growth Quality 64/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
45.8M MYR
Latest YoY
+3.7%
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.
+5.1%
Revenue +5.1%/yr
FY22 39.5M MYR
FY23 43.0M MYR
FY24 44.2M MYR
FY25 45.8M MYR
Net income −31.2%/yr
FY22 6.1M MYR
FY23 4.8M MYR
FY24 1.0M MYR
FY25 2.0M MYR

0332 screens 19% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "Topvision Eye Specialist Berhad, Fair Value". https://www.fairvalue-calculator.com/stock/0332

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 43 · Bottom 25%
Fair Value upside −19% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 4% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 8% · Below median
Revenue growth -3% · Bottom 25%
Dividend yield (TTM) 6.3% · Top 25%
Debt / equity 0.25× · Higher than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/B 0.27× · Cheaper than 75% of peers
P/S (TTM) 0.26× · Cheaper than 75% of peers
P/FCF 8.8× · Pricier than median
EV/EBITDA 1.3× · 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 8 · sector 23
FUTURE 0 · sector 24
PAST 12 · sector 30
HEALTH 87 · sector 90
DIVIDEND 100 · sector 38

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 17, 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 Topvision Eye Specialist Berhad, (0332) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 0.1300 MYR versus a price of 0.1600 MYR, about −19% (overvalued).
What is the fair value of 0332?
Our model-based fair value for Topvision Eye Specialist Berhad, is 0.1300 MYR (as of Jul 17, 2026), built from audited fundamentals. The current price is 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 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 Jul 17, 2026).
What is the net profit margin of 0332?
The net profit margin of Topvision Eye Specialist Berhad, is about 2.8%, meaning it keeps roughly 2.8% of revenue as net income. Based on the latest reported figures.
Does Topvision Eye Specialist Berhad, pay a dividend?
Topvision Eye Specialist Berhad, currently shows a dividend yield of about 6.06% 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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