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Ambest Group (0391) Fair Value & Analysis

Industrials · MY · Market cap 454M MYR

AG Ambest Group 0391 · KLSE
Price1.09 MYR
Fair Value0.2200 MYR
Upside-79.8%
Quality41/100
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Mixed Growth
Solidly profitable · 12.1% net margin
Moderate debt · negative free cash flow
Mixed vs. peers (5/12)
Wide moat 66/100
Evidence: Medium Range 0.1500 MYR – 0.2900 MYR Share as image

Fair value as of: Jul 17, 2026

From 13 valuation models · updated 24 days ago

Share price +24.6% over the past month.

Below-average quality, and screening another 80% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.2900 MYR). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (0.1500 MYR to 0.2900 MYR) leaves room in how you read the outcome.
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Price vs Fair Value (6 months)

1.09 MYR 0.2600 MYR Fair Value 0.2200 MYR Feb 2026 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 17, 2026.

How to read this chart

6‑month range 0.2600 MYR – 1.09 MYR · fair‑value band 0.1500 MYR – 0.2900 MYR · the 1.09 MYR price screens above the 0.2200 MYR fair value. As of Jul 17, 2026.

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Analysis

Ambest Group (0391) currently trades at 1.09 MYR, while our model-based Fair Value estimate is 0.2200 MYR, implying the stock looks roughly 79.8% overvalued today. The Quality Score stands at 41/100 (below-average 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: medium).

Over the trailing twelve months, Ambest Group generated revenue of 52.7M MYR at a net margin of 12.1%. It earns a return on equity of 19.5%. Net debt stands at 32.9M MYR. The stock trades on a trailing P/E of 34.0. Fundamentals as of Jul 17, 2026

Our scenario range runs from 0.1500 MYR (bear case) to 0.2900 MYR (bull case); at 1.09 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 near its 52-week high and 319% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -72% fair-value upside, at -80%, 0391 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
ROIC Compounder 0.0600 MYR 0.0800 MYR 0.1000 MYR 72
Growth-Adj P/E 0.1600 MYR 0.2300 MYR 0.3000 MYR 68
P/E Multiple 0.2300 MYR 0.3000 MYR 0.3800 MYR 63
All 13 models by family
DCF Models
Owner Earnings 0.0200 MYR 31
Earnings-Based
Graham-Dodd 0.0900 MYR 0.1200 MYR 0.1300 MYR 54
EPV 0.0600 MYR 0.0800 MYR 0.0900 MYR 59
Multiples
P/E Multiple 0.2300 MYR 0.3000 MYR 0.3800 MYR 63
P/S Multiple 0.1800 MYR 0.2400 MYR 0.2900 MYR 58
P/B Multiple 0.1500 MYR 0.2000 MYR 0.2500 MYR 55
EV/EBIT 0.1700 MYR 0.2400 MYR 0.3100 MYR 53
EV/EBITDA 0.1700 MYR 0.2500 MYR 0.3300 MYR 54
EV/Revenue 0.1100 MYR 0.1900 MYR 0.2600 MYR 43
Asset-Based
NCAV (Graham) 0.0300 MYR 0.0400 MYR 0.0600 MYR 50
Economic Profit
Residual Income 0.0800 MYR 0.1000 MYR 0.4200 MYR 61
ROIC Compounder 0.0600 MYR 0.0800 MYR 0.1000 MYR 72
Growth Earnings
Growth-Adj P/E 0.1600 MYR 0.2300 MYR 0.3000 MYR 68

Widest divergence: Multiples (0.2400 MYR) versus Asset-Based (0.0400 MYR). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) 52.7M MYR
Net margin 12.1%
Return on equity 19.5%
Free cash flow −4.6M MYR FY2024
P/E ratio 44.5
Operating margin 25.2%
More key figures
EPS (TTM) 0.0200 MYR
Net debt 32.9M MYR FY2024

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

Quality Score breakdown

Overall quality 41/100

Of which business quality 41 · Market factors (momentum, volatility) 70

Profitability 55
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 18
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 80
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

Ambest Group Berhad, an investment holding company, offers engineering supporting, precision machining, and sub-modular assembly services in Malaysia and internationally. It is involved in CNC milling, CNC turning, sheet metal fabrication, and sub assembly business that manufactures precision-machined parts and components.

Full company description

Ambest Group Berhad, an investment holding company, offers engineering supporting, precision machining, and sub-modular assembly services in Malaysia and internationally. It is involved in CNC milling, CNC turning, sheet metal fabrication, and sub assembly business that manufactures precision-machined parts and components. The company serves various customers in the semiconductor industry. Ambest Group Berhad was founded in 2011 and is based in Batu Maung, Malaysia.

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

Revenue & earnings trend

FY2022 – FY2024 · reported fiscal years

Ambest Group reported revenue of 47.3M MYR in FY2024 versus 59.4M MYR in FY2022, a compound −10.8%/yr. Reported net income was 7.1M MYR in FY2024, compounding −0.9%/yr from FY2022.

Growth Quality 35/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
47.3M MYR
Latest YoY
+3.3%
Revenue −10.8%/yr
FY22 59.4M MYR
FY23 45.8M MYR
FY24 47.3M MYR
Net income −0.9%/yr
FY22 7.2M MYR
FY23 6.8M MYR
FY24 7.1M MYR

0391 screens 80% overvalued. Compare with Carpenter Technology Corporation →

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Cite: Fair Value Calculator (2026). "Ambest Group Fair Value". https://www.fairvalue-calculator.com/stock/0391

Peer Group

Metal Fabrication · 244 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 41 · Bottom 25%
Fair Value upside −80% · Bottom 25%
Return on equity (TTM) 20% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 25% · Top 25%
Revenue growth 0% · Below median
Debt / equity 0.98× · Higher than 75% of peers

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 44.5× · Pricier than median
P/B 3.75× · Pricier than 75% of peers
P/S (TTM) 2.11× · Pricier than median
EV/EBITDA 10.7× · Cheaper than median

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 · sector 0
FUTURE 0 · sector 36
PAST 78 · sector 21
HEALTH 51 · sector 95
DIVIDEND 0 · sector 25

VALUE 0: the price sits above our fair-value range.

Insider activity: 30/100

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 Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

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Frequently asked questions

Is Ambest Group (0391) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 0.2200 MYR versus a price of 1.09 MYR, about −80% (overvalued).
What is the fair value of 0391?
Our model-based fair value for Ambest Group is 0.2200 MYR (as of Jul 17, 2026), built from audited fundamentals. The current price is 1.09 MYR.
What is the quality score of 0391?
Ambest Group has a Quality Score of 41/100. 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 Ambest Group (0391)?
Ambest Group reported trailing-twelve-month revenue of about 52.7M MYR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 0391?
The net profit margin of Ambest Group is about 12.1%, meaning it keeps roughly 12.1% of revenue as net income. Based on the latest reported figures.

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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