Pan Merchant Berhad (0361) Fair Value & Analysis
Industrials · MY · Market cap 202M MYR
Fair value as of: Jul 17, 2026
From 22 valuation models · updated 24 days ago
Share price +2.3% over the past month.
A solid business, but screening 60% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (0.1200 MYR). The favourable scenario is already priced in.
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (13 months)
White line = price, green steps = our fair value per fiscal year. As of Jul 17, 2026.
How to read this chart
13‑month range 0.1882 MYR – 0.2550 MYR · fair‑value band 0.0700 MYR – 0.1200 MYR · the 0.2250 MYR price screens above the 0.0900 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Jul 17, 2026.
Analysis
Pan Merchant Berhad (0361) currently trades at 0.2250 MYR, while our model-based Fair Value estimate is 0.0900 MYR, implying the stock looks roughly 60.0% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Industrials 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, Pan Merchant Berhad generated revenue of 115M MYR at a net margin of -0.4%. Revenue declined 41.5% year over year. It earns a return on equity of -0.8%. Net debt stands at 16.5M MYR. Fundamentals as of Jul 17, 2026
Our scenario range runs from 0.0700 MYR (bear case) to 0.1200 MYR (bull case); at 0.2250 MYR, the current price sits above 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 15% below its 52-week high and 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -60%, 0361 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.
All 22 models by family
Widest divergence: DCF Models (0.1100 MYR) versus Earnings-Based (0.0500 MYR). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 31
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
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.
Full company description
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. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
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.
0361 screens 60% overvalued. Compare with GE Vernova Inc →
Peer Group
Specialty Industrial Machinery · 808 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.
Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| GE Vernova Inc 1GEV | €887.60 | €186.93 | -79% |
| 1SIE 1SIE | €273.20 | €91.93 | -66% |
| SMNS SMNS | C$31.76 | C$22.68 | -29% |
| Eaton Corporation ETN | $407.28 | $171.92 | -58% |
| Atlas Copco AB ATCOA | kr 195.15 | kr 112.59 | -42% |
| Sandvik AB SAND | kr 384.10 | kr 193.01 | -50% |
| Doosan Enerbility Co 034020 | 76,400 KRW | 7,938 KRW | -90% |
| Vestas Wind Systems A/S VWS | kr 178.10 | kr 124.54 | -30% |
| Zhejiang Sanhua Intelligent Controls Co 002050 | ¥43.20 | ¥22.68 | -48% |
| NARI Technology Co 600406 | ¥22.19 | ¥18.71 | -16% |
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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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