Pan Merchant Berhad (0361) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Pan Merchant Berhad stock MYR 0.11, price MYR 0.20, that is 45.0% below the price, quality 52 out of 100. Rating: strongly overvalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
16‑month range 0.1882 MYR – 0.2550 MYR · fair‑value band 0.0800 MYR – 0.1400 MYR · the 0.2000 MYR price screens above the 0.1100 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Pan Merchant Berhad manufactures solid-liquid filtration equipment, fabricating steel works, and providing technical support services. The company's products and services include filter presses, hermetic filters, and related filtration equipment.
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The company also provides steel fabrication services, technical support, and after-sales services that include replacement parts, technology upgrades, and support services.
It serves industries, such as edible oil processing, water treatment, sustainable aviation fuel production, food processing, and mining in Malaysia, Indonesia, the rest of Asia, the United States, Europe, and Africa. The company was founded in 1987 and is headquartered in Shah Alam, Malaysia.
Stock analysis
Pan Merchant Berhad (0361) currently trades at 0.2000 MYR, while our model-based Fair Value estimate is 0.1100 MYR, 45% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 0.1300 MYR per share, and 1 of the 22 models we run sit above the 0.2000 MYR price.
Bear case: the Earnings-Based group reads lowest at 0.0600 MYR, and 21 of the 22 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.0800 MYR (bear) to 0.1400 MYR (bull), the price of 0.2000 MYR sits above 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 52/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Pan Merchant Berhad reported revenue of 126M MYR in FY2025 versus 105M MYR in FY2021, a compound +4.6%/yr. Reported net income was 5.0M MYR in FY2025, compounding −16.5%/yr from FY2021.
Key figures
Market cap 183M MYR (≈ $45.1M) Micro · P/S ratio 1.66 · Dividend yield 1.0% · Net margin −1.1% · Return on equity −0.7% · Return on assets (EBIT) 10.6% (5-year average) · Operating margin 2.2% · Revenue (TTM) 110M MYR.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −45%, 0361 screens cheaper than that median.
Fair Value models
Bear0.0800 MYRFair Value 0.1100 MYRBull0.1400 MYR
Price 0.2000 MYR · Downside -45.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−11.0%
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.
−6.5%
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 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 5 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.
−12.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.5%
Dividend (yield on the price)1.0%
Profit margin 2021 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.15% → 4%
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).
+14.0%
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 +11.8% a year for the price.
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.Specialty Industrial Machinery · 813 stocks
Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−45.0% · Below median
Profitability
Return on assets2.8% · Below median
Net margin (12 months)−1.1% · Bottom 25%
Operating margin (12 months)2.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)−15.4% · Bottom 25%
Dividend yield (12 months)1.0% · Below median
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
P/B1.34× · Cheaper than median
P/S (12 months)1.66× · Cheaper than median
Price / free cash flow (fiscal year)22.7× · Cheaper than median
EV/EBITDA40.5× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 30
PAST (return on equity)0· sector 28
HEALTH (low debt)100· sector 96
DIVIDEND (yield)20· sector 29
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Pan Merchant Berhad (0361) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 0.1100 MYR versus a price of 0.2000 MYR, about 45% lower (overvalued).
What is the fair value of 0361?
Our model-based fair value for Pan Merchant Berhad is 0.1100 MYR (as of Nov 9, 2026), built from audited fundamentals. The current price: 0.2000 MYR.
What is the quality score of 0361?
Pan Merchant Berhad has a Quality Score of 52/100. 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 Pan Merchant Berhad (0361)?
Our model-based price target is the fair value of 0.1100 MYR (as of Nov 9, 2026) from 22 valuation models. Cautious scenario 0.0800 MYR, optimistic scenario 0.1400 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Pan Merchant Berhad stock forecast for 2026?
Our models put fair value at 0.1100 MYR, about 45% lower versus a price of 0.2000 MYR (overvalued). Cautious scenario 0.0800 MYR, optimistic scenario 0.1400 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Pan Merchant Berhad (0361)?
Pan Merchant Berhad reported trailing-twelve-month revenue of about 110M MYR (latest available figure, as of Nov 9, 2026).
Does Pan Merchant Berhad pay a dividend?
Pan Merchant Berhad currently shows a dividend yield of 1.00% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Pan Merchant Berhad (0361) and when is the ex-dividend date?
Pan Merchant Berhad pays a dividend of 0.002 MYR per share a year, a dividend yield of 1.0%. The last ex-dividend date was Apr 9, 2026. The payout ratio is 36.9% of earnings. Free cash flow covers the dividend 4.42 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Pan Merchant Berhad (0361)?
For today's price to be fair in a discounted-cash-flow model, Pan Merchant Berhad would have to grow free cash flow by +14.0 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +4.6 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 0361 use?
Our models discount Pan Merchant Berhad at 11.1 %: a base by market capitalisation (nano), 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 Pan Merchant Berhad that is +14.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has Pan Merchant Berhad (0361) delivered so far?
Over the past 4 years revenue at Pan Merchant Berhad grew +4.6 % a year. The price currently implies free-cash-flow growth of +14.0 % per 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 Pan Merchant Berhad (0361) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Pan Merchant Berhad (+14.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Pan Merchant Berhad (0361)?
The free-cash-flow yield on the price is 4.42 %: that much free cash flow Pan Merchant Berhad produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Pan Merchant Berhad (0361)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Pan Merchant Berhad it is 0.1100 MYR per share (as of Nov 9, 2026), against a price of 0.2000 MYR. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Pan Merchant Berhad stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 0361 trades above its calculated fair value: price 0.2000 MYR, fair value 0.1100 MYR, a gap of about −45% (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 0361?
No. The price is what the market pays today (0.2000 MYR); the fair value is what the company's own numbers justify (0.1100 MYR). For Pan Merchant Berhad the two are 0.0900 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Pan Merchant Berhad worth?
The market values Pan Merchant Berhad at about 183M MYR (market capitalisation, as of Nov 9, 2026). Per share that is 0.2000 MYR; our models calculate a fair value of 0.1100 MYR per share.
What do the bullish and bearish scenarios say about 0361?
Our models span a range for Pan Merchant Berhad: cautious scenario 0.0800 MYR, base 0.1100 MYR, optimistic 0.1400 MYR per share (as of Nov 9, 2026, price 0.2000 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Pan Merchant Berhad (0361)?
Balance-sheet figures for Pan Merchant Berhad (as of Nov 9, 2026): return on equity −0.7%. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 0361 from its 52-week high?
Pan Merchant Berhad trades at 0.2000 MYR, about 22% below its 52-week high of 0.2550 MYR and 4% above the low of 0.1932 MYR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 0.1100 MYR is for.
Which stocks are comparable to Pan Merchant Berhad?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin Corporation, 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 Pan Merchant Berhad stock attractive at the current price?
The data as of Nov 9, 2026: price 0.2000 MYR, calculated fair value 0.1100 MYR (−45%), Quality Score 52/100, from 22 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 0361 calculated?
We run Pan Merchant Berhad through 22 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 0.1100 MYR builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Pan Merchant 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 Pan Merchant Berhad (0361)?
The closing price on Nov 6, 2026 was 0.2000 MYR. Our model-based fair value is 0.1100 MYR, about 45% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Pan Merchant Berhad right now?
The price sits above even our optimistic bull case (0.1400 MYR). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Pan Merchant Berhad
How large is the market capitalisation of Pan Merchant Berhad (0361)?
The market capitalisation of Pan Merchant Berhad is 183M MYR (≈ $45.1M). 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 Pan Merchant Berhad (0361)?
The price-to-sales ratio of Pan Merchant Berhad is 1.66 (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 Pan Merchant Berhad (0361)?
The dividend yield of Pan Merchant Berhad is 1.0%. 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 Pan Merchant Berhad (0361)?
The net margin of Pan Merchant Berhad is −1.1% (last twelve months). 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 Pan Merchant Berhad (0361)?
The return on equity (ROE) of Pan Merchant Berhad is −0.7% (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 Pan Merchant Berhad (0361)?
On an EBIT basis the return on assets of Pan Merchant Berhad is 10.6% (avg 5y). 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 Pan Merchant Berhad (0361)?
The operating margin of Pan Merchant Berhad is 2.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Pan Merchant Berhad (0361)?
Revenue at Pan Merchant Berhad is growing −15.4% versus a year earlier (3y avg −6.5%). 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 Pan Merchant Berhad (0361)?
Earnings per share at Pan Merchant Berhad are growing +126% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Pan Merchant Berhad (0361) carry?
The net debt of Pan Merchant Berhad is 16.5M MYR (fiscal year 2024, ≈ 2.0 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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Thin data
Nov 9, 2026