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Cheeding Holdings (0372) Fair Value & Analysis

Industrials · MY · Market cap 554M MYR

CH Cheeding Holdings 0372 · KLSE
Price0.5950 MYR
Fair Value0.9000 MYR
Upside+51.3%
Quality73/100
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Mixed Growth
Highly profitable · 31.9% net margin
Low debt · generates free cash flow
1.55% dividend yield
Ranks above peers (9/14)
Wide moat 92/100
Evidence: High Range 0.6000 MYR – 1.94 MYR Share as image

Fair value as of: Jul 12, 2026

From 13 valuation models · updated 29 days ago

Share price −14.4% over the past month.

A solid business, screening 51% undervalued on our models.

What matters now

  • The rarer combination: high quality (73/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The model range is unusually wide (0.6000 MYR to 1.94 MYR). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (10 months)

0.9251 MYR 0.5758 MYR Fair Value 0.9000 MYR Oct 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 12, 2026.

How to read this chart

10‑month range 0.5758 MYR – 0.9251 MYR · fair‑value band 0.6000 MYR – 1.94 MYR · the 0.5950 MYR price screens below the 0.9000 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Jul 12, 2026.

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Analysis

Cheeding Holdings (0372) currently trades at 0.5950 MYR, while our model-based Fair Value estimate is 0.9000 MYR, implying the stock looks roughly 51.3% undervalued today. The Quality Score stands at 73/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Cheeding Holdings generated revenue of 111M MYR at a net margin of 31.9%. It earns a return on equity of 38.0%. The stock trades on a trailing P/E of 17.1. Fundamentals as of Jul 12, 2026

Our scenario range runs from 0.6000 MYR (bear case) to 1.94 MYR (bull case); at 0.5950 MYR, the current price sits below 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 37% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 51%, 0372 screens cheaper 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 0.4800 MYR 0.7500 MYR 1.17 MYR 80
Residual Income 0.2600 MYR 0.3700 MYR 2.17 MYR 76
Rev-Margin DCF 0.4100 MYR 0.6100 MYR 1.05 MYR 74
All 13 models by family
DCF Models
Owner Earnings 0.6800 MYR 1.29 MYR 2.43 MYR 31
5Y P/E Exit 0.5400 MYR 1.05 MYR 1.74 MYR 38
10Y P/E Exit 0.5300 MYR 1.01 MYR 1.81 MYR 35
Earnings-Based
Graham-Dodd 0.3000 MYR 2.10 MYR 2.94 MYR 54
Lynch FV 1.08 MYR 1.55 MYR 2.01 MYR 50
Dividend Discount
Gordon GGM 0.0600 MYR 0.1100 MYR 0.1600 MYR 70
DDM Multi-Stage 0.0600 MYR 0.1000 MYR 0.1200 MYR 61
Multiples
P/E Multiple 0.4300 MYR 0.5800 MYR 0.7200 MYR 63
P/B Multiple 0.1800 MYR 0.2400 MYR 0.3000 MYR 55
Asset-Based
NCAV (Graham) 0.0800 MYR 0.1100 MYR 0.1700 MYR 50
Growth DCF
Growth DCF 0.4800 MYR 0.7500 MYR 1.17 MYR 80
Rev-Margin DCF 0.4100 MYR 0.6100 MYR 1.05 MYR 74
Economic Profit
Residual Income 0.2600 MYR 0.3700 MYR 2.17 MYR 76

Widest divergence: Earnings-Based (1.55 MYR) versus Dividend Discount (0.1000 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 111M MYR
Net margin 31.9%
Return on equity 38.0%
Free cash flow 23.1M MYR FY2026
P/E ratio 17.4
Operating margin 43.9%
More key figures
EPS (TTM) 0.0400 MYR
Dividend yield 1.6%

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 73/100

Of which business quality 72 · Market factors (momentum, volatility) 25

Profitability 81
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 25
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 11
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

Cheeding Holdings Berhad, an investment holding company, provides infrastructure utilities engineering solutions in Malaysia. It operates through Engineering, Procurement, Construction and Commissioning (EPCC); Substation Engineering Services; and Maintenance of Overhead Infrastructure for Utilities segments.

Full company description

Cheeding Holdings Berhad, an investment holding company, provides infrastructure utilities engineering solutions in Malaysia. It operates through Engineering, Procurement, Construction and Commissioning (EPCC); Substation Engineering Services; and Maintenance of Overhead Infrastructure for Utilities segments. The company procures, supplies, delivers, installs, constructs, tests, and commissions, as wells as inspects, repairs, and maintains overhead infrastructure for utilities; and provides project planning and management for the projects it undertakes. It also performs maintenance services of overhead infrastructure for utilities; and undertakes planning, procurement, construction, and commissioning of underground infrastructure for utilities. In addition, the company undertakes substation engineering works involving technical design and build of primary equipment in the primary bay of a new or existing substation; and is involved in the design, modification, upgrading, replacement, and retrofitting of electrical systems components in secondary bay in existing substations. Further, it performs foundation, erection, and stringing works for interconnecting the electrical substations to the utility grid system; and provides electrical and civil engineering related services. Cheeding Holdings Berhad was incorporated in 2024 and is headquartered in Petaling Jaya, Malaysia.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Cheeding Holdings reported revenue of 111M MYR in FY2026 versus 9.5M MYR in FY2022, a compound +84.8%/yr. Reported net income was 35.3M MYR in FY2026.

Growth Quality 94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
111M MYR
Latest YoY
−5.9%
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.
+44.2%
Revenue +84.8%/yr
FY22 9.5M MYR
FY23 37.0M MYR
FY24 88.2M MYR
FY25 118M MYR
FY26 111M MYR
Net income
FY22 −276K MYR
FY23 8.2M MYR
FY24 20.5M MYR
FY25 26.3M MYR
FY26 35.3M MYR

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Cite: Fair Value Calculator (2026). "Cheeding Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0372

Peer Group

Engineering & Construction · 839 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 73 · Top 25%
Fair Value upside +51% · Top 25%
Return on equity (TTM) 38% · Top 25%
Return on assets 25% · Top 25%
Net margin (TTM) 32% · Top 25%
Operating margin (TTM) 44% · Top 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 1.6% · Below median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 17.4× · Pricier than median
P/B 1.00× · Cheaper than median
P/S (TTM) 1.23× · Pricier than median
P/FCF 5.9× · Pricier than median
EV/EBITDA 0.9× · 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 100 · sector 16
FUTURE 0 · sector 17
PAST 100 · sector 26
HEALTH 100 · sector 94
DIVIDEND 31 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Cheeding Holdings (0372) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 0.9000 MYR versus a price of 0.5950 MYR, about +51% (undervalued).
What is the fair value of 0372?
Our model-based fair value for Cheeding Holdings is 0.9000 MYR (as of Jul 12, 2026), built from audited fundamentals. The current price is 0.5950 MYR.
What is the quality score of 0372?
Cheeding Holdings has a Quality Score of 73/100. 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 Cheeding Holdings (0372)?
Cheeding Holdings reported trailing-twelve-month revenue of about 111M MYR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 0372?
The net profit margin of Cheeding Holdings is about 31.9%, meaning it keeps roughly 31.9% of revenue as net income. Based on the latest reported figures.
Does Cheeding Holdings pay a dividend?
Cheeding Holdings currently shows a dividend yield of about 1.63% relative to its recent price (as of Jul 12, 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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