ADNEX GROUP BERHAD (0396) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of ADNEX GROUP BERHAD MYR 0.19, price MYR 0.42, upside -54.8%, quality 74 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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ADNEX GROUP BERHAD
0396 · KLSEStretched ValuationStrong overvaluation with only moderate quality.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 23, 2026.
How to read this chart
6‑month range 0.2314 MYR – 0.4500 MYR · fair‑value band 0.1100 MYR – 0.2700 MYR · the 0.4200 MYR price screens above the 0.1900 MYR fair value. As of Sep 23, 2026.
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Company profile
Adnex Group Berhad, through its subsidiaries, provides interior fit-out services for commercial and industrial properties in Malaysia, The Philippines, Australia, Indonesia, New Zealand, and Singapore. The company offers interior fit-out and turnkey fit-out services for corporate offices, F&B outlets, and sales galleries.
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Adnex Group Berhad, through its subsidiaries, provides interior fit-out services for commercial and industrial properties in Malaysia, The Philippines, Australia, Indonesia, New Zealand, and Singapore. The company offers interior fit-out and turnkey fit-out services for corporate offices, F&B outlets, and sales galleries. Its services include design, planning, and coordination services, such as overseeing, managing and coordinating the design concepts, space planning and layout plan designs, selection of materials, finishes, furnishings and fixtures; project planning and scheduling services, such as developing project timeline; engagement and appointment of professionals including identifying and engaging relevant professionals, including M&E consultant engineer, civil and structural consultant engineer and architect; cost management services, such as monitoring budgets and expenditure or preparation of estimated overall fit-out costs; Procurement including sourcing and procurement of materials, supplies and furniture; Liaising with various parties for documentation submission; appointment of subcontractors; Supervision and coordination of on-site fit-out activities carried out by subcontractors; Implementation of quality control and safety procedures; and manage and monitor rectification and repair of defects during the DLP. Its customers comprise property owners and tenants, as well as interior fit-out consultants and project management consultants. Adnex Group Berhad was founded in 2004 and is based in Shah Alam, Malaysia. Adnex Group Berhad operates as a subsidiary of Kan8 Holding Sdn Bhd.
Stock analysis
ADNEX GROUP BERHAD (0396) currently trades at 0.4200 MYR, while our model-based Fair Value estimate is 0.1900 MYR, implying the stock looks roughly 121.0% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 0.3200 MYR per share, and 1 of the 26 models we run sit above the 0.4200 MYR price.
Bear case: the Economic Profit group reads lowest at 0.0600 MYR, and 25 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.1100 MYR (bear) to 0.2700 MYR (bull), the price of 0.4200 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 74/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
ADNEX GROUP BERHAD reported revenue of 50.2M MYR in FY2024 versus 30.9M MYR in FY2022, a compound +27.5%/yr. Reported net income was 6.4M MYR in FY2024, compounding +36.7%/yr from FY2022.
Key figures
Market cap 210M MYR (≈ $51.5M) · P/E ratio 21.0 · P/S ratio 2.67 · EPS (TTM) 0.0200 MYR · Net margin 12.7% · Return on equity 72.0% · Return on assets (EBIT) 28.6% · Operating margin 16.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −55%, 0396 screens richer than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 77
Revenue & earnings trend
Growth Forecast
0396 screens 121% overvalued. Compare with Quanta Services, Inc →
Compare ADNEX GROUP BERHAD with another stock
Price, fair value, quality and upside side by side.
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.Engineering & Construction · 840 stocks
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Consumer Discretionary sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Valuation of the Malaysia market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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| Ferrovial N.V FER | $56.30 | $24.01 | −57% |
| Samsung C&T Corporation 028260 | 367,000 KRW | 256,792 KRW | −30% |
| HOCHTIEF Aktiengesellschaft HOT | €397.00 | €203.87 | −49% |
| ACS, Actividades de Construcción y Servicios, S.A ACS | €92.75 | €75.04 | −19% |
| EMCOR Group EME | $751.80 | $521.87 | −31% |
| MasTec, Inc MTZ | $217.52 | $106.05 | −51% |
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Key figures of ADNEX GROUP BERHAD
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