Mega First Corporation Bhd (3069) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Mega First Corporation Bhd MYR 6.71, price MYR 2.91, upside +130.6%, quality 70 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Mega First Corporation Berhad, together with its subsidiaries, engages in renewable energy, resources, and packaging businesses in Malaysia, Lao PDR, other ASEAN countries, India, Bangladesh, Papua New Guinea, the United States, Australia, New Zealand, and internationally.
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Mega First Corporation Berhad, together with its subsidiaries, engages in renewable energy, resources, and packaging businesses in Malaysia, Lao PDR, other ASEAN countries, India, Bangladesh, Papua New Guinea, the United States, Australia, New Zealand, and internationally. The company builds, owns, and operates a 260 MW run-of-river hydropower plant; and undertakes solar photovoltaic investment business activities. It is also involved in the quarrying of limestone; manufacture and sale of lime products and calcium carbonate powder; and manufactures and sells flexible packaging materials, paper bags, flexible packaging, and labels products, as well as printed labels and stickers. In addition, the company provides management, property development, plantation development, property investment, and management consultancy services; development and operation of medical centre; engineering, designing, and manufacturing of automotive components; manufacture and trading of various kinds of metal products and related business; and car park operator. Further, it engages in the development and operation of hydroelectric power plant; design, build, own, operates, and maintain solar photovoltaic power plant and related activities; construction, installation, operation, and maintenance of solar photovoltaic systems; solar photovoltaic investment; trading in building materials and construction products; investment in quoted securities; sand mining activities; wholesale, processing, packing, manufacturing and trading of fruits, grains and other food products, as well as vegetables and groceries; agriculture plantation and selling of agriculture produce; retail of groceries and vegetables; and transportation business. Mega First Corporation Berhad was incorporated in 1966 and is headquartered in Petaling Jaya, Malaysia.
Stock analysis
Mega First Corporation Bhd (3069) currently trades at 2.91 MYR, while our model-based Fair Value estimate is 6.71 MYR, implying the stock looks roughly 56.6% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 8.00 MYR per share, and 21 of the 26 models we run sit above the 2.91 MYR price.
Bear case: the Dividend Discount group reads lowest at 1.12 MYR, and 5 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 4.88 MYR (bear) to 8.55 MYR (bull), the price of 2.91 MYR sits below 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 70/100 (solid quality), in the Utilities sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Mega First Corporation Bhd reported revenue of 1.4B MYR in FY2025 versus 914M MYR in FY2021, a compound +11.6%/yr. Reported net income was 387M MYR in FY2025, compounding −4.4%/yr from FY2021.
Key figures
Market cap 2.7B MYR (≈ $673M) · P/E ratio 7.1 · P/S ratio 1.93 · EPS (TTM) 0.4100 MYR · Dividend yield 3.4% · Net margin 27.3% · Return on equity 11.4% · Return on assets (EBIT) 11.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −36% fair-value upside, at 131%, 3069 screens cheaper than that median.
Fair Value models
Bear 4.88 MYRFair Value 6.71 MYRBull 8.55 MYR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.2282 MYR per share) are deliberately not added.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 ⓘEvidence = 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.87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−18.5%
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.
+2.0%
Revenue growth 5 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.
+13.1%
Start year 2020 (pandemic). Over 10 years: +9.2% a year
Revenue growth 19 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.
+5.9%
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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.
+7.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.9%
Dividend (yield on the price)3.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.4% vs 12%, slowing
Profit margin 2020 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.54% → 38%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−10.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about −11.9% a year for the price and +0.3% for the forecasts.
Compare Mega First Corporation Bhd with another stock
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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.Utilities - Regulated Electric · 158 stocks
Beats the industry median on 12/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+131% · Top 25%
Profitability
Return on equity (TTM)11% · Above median
Return on assets7% · Top 25%
Net margin (TTM)28% · Top 25%
Operating margin (TTM)35% · Top 25%
Growth and dividend
Revenue growth−10% · Bottom 25%
Dividend yield (TTM)3.4% · Below median
Balance sheet
Debt / equity0.11× · Lowest 25%
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Mega First Corporation Bhd Fair Value". https://www.fairvalue-calculator.com/stock/3069
Frequently asked questions
Is Mega First Corporation Bhd (3069) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 6.71 MYR versus a price of 2.91 MYR, about +131% upside (undervalued).
What is the fair value of 3069?
Our model-based fair value for Mega First Corporation Bhd is 6.71 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 2.91 MYR.
What is the quality score of 3069?
Mega First Corporation Bhd has a Quality Score of 70/100. 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 Mega First Corporation Bhd (3069)?
Our model-based price target is the fair value of 6.71 MYR (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 4.88 MYR, optimistic scenario 8.55 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Mega First Corporation Bhd stock forecast for 2026?
Our models put fair value at 6.71 MYR, about +131% upside versus a price of 2.91 MYR (undervalued). Cautious scenario 4.88 MYR, optimistic scenario 8.55 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Mega First Corporation Bhd (3069)?
Mega First Corporation Bhd reported trailing-twelve-month revenue of about 1.4B MYR (latest available figure, as of Sep 24, 2026).
Does Mega First Corporation Bhd pay a dividend?
Mega First Corporation Bhd currently shows a dividend yield of about 3.37% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Mega First Corporation Bhd (3069)?
For today's price to be fair in a discounted-cash-flow model, Mega First Corporation Bhd would have to grow free cash flow by -10.1 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 3069 use?
Our models discount Mega First Corporation Bhd at 11.1 %: a base by market capitalisation (small), damped by beta 0.25, 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 Mega First Corporation Bhd that is -10.1 % per year a year over ten years, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has Mega First Corporation Bhd (3069) delivered so far?
Over the past 5 years revenue at Mega First Corporation Bhd grew +13.1 % a year. The price currently implies -10.1 % per year free-cash-flow growth a 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 Mega First Corporation Bhd (3069) growing?
The median revenue growth in the sector is +0.7 % a year. That is the yardstick for the growth priced into Mega First Corporation Bhd (-10.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Mega First Corporation Bhd (3069)?
The free-cash-flow yield on the price is 20.47 %: that much free cash flow Mega First Corporation Bhd 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 Mega First Corporation Bhd (3069)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mega First Corporation Bhd it is 6.71 MYR per share (as of Sep 24, 2026), against a price of 2.91 MYR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Mega First Corporation Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 3069 trades below its calculated fair value: price 2.91 MYR, fair value 6.71 MYR, a gap of about +131% (undervalued). 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 3069?
No. The price is what the market pays today (2.91 MYR); the fair value is what the company's own numbers justify (6.71 MYR). For Mega First Corporation Bhd the two are 3.80 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Mega First Corporation Bhd worth?
The market values Mega First Corporation Bhd at about 2.7B MYR (market capitalisation, as of Sep 24, 2026). Per share that is 2.91 MYR; our models calculate a fair value of 6.71 MYR per share.
What do the bullish and bearish scenarios say about 3069?
Our models span a range for Mega First Corporation Bhd: cautious scenario 4.88 MYR, base 6.71 MYR, optimistic 8.55 MYR per share (as of Sep 24, 2026, price 2.91 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3069?
Mega First Corporation Bhd trades at a price-to-earnings ratio of 7.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 6.71 MYR is built from several models across several years. Other multiples: PEG 13.4, P/B 0.2, P/S 0.5, EV/EBITDA 0.9.
What is the PEG ratio of 3069?
The PEG ratio of Mega First Corporation Bhd is 13.42 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Mega First Corporation Bhd (3069)?
Balance-sheet figures for Mega First Corporation Bhd (as of Sep 24, 2026): return on equity 11.4%, debt of 0.11 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is 3069 from its 52-week high?
Mega First Corporation Bhd trades at 2.91 MYR, about 23% below its 52-week high of 3.80 MYR and 7% above the low of 2.72 MYR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 6.71 MYR is for.
Which stocks are comparable to Mega First Corporation Bhd?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, 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 Mega First Corporation Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 2.91 MYR, calculated fair value 6.71 MYR (+131%), Quality Score 70/100, from 26 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 3069 calculated?
We run Mega First Corporation Bhd through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 6.71 MYR, 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 14.1 % above its aggregate fair value. Mega First Corporation Bhd currently trades 131 % below its own fair value, and the market average says nothing about that. 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 Mega First Corporation Bhd (3069)?
The closing price on Sep 23, 2026 was 2.91 MYR. Our model-based fair value is 6.71 MYR, about +131% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mega First Corporation Bhd right now?
The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (4.88 MYR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of Mega First Corporation Bhd (3069) come from?
Earnings per share at Mega First Corporation Bhd grew +12.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.0 %, EBIT margin +5.4 %, tax rate +3.9 %, residual (interest, one-offs) −0.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Mega First Corporation Bhd
How large is the market capitalisation of Mega First Corporation Bhd (3069)?
The market capitalisation of Mega First Corporation Bhd is 2.7B MYR (≈ $673M). 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 Mega First Corporation Bhd (3069)?
The price-to-sales ratio of Mega First Corporation Bhd is 1.93 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Mega First Corporation Bhd (3069)?
Earnings per share at Mega First Corporation Bhd are 0.4100 MYR (price ÷ EPS = P/E 7.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mega First Corporation Bhd (3069)?
The dividend yield of Mega First Corporation Bhd is 3.4% (payout 23.9%). 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 Mega First Corporation Bhd (3069)?
The net margin of Mega First Corporation Bhd is 27.3% (fiscal year 2025). 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 Mega First Corporation Bhd (3069)?
The return on equity (ROE) of Mega First Corporation Bhd is 11.4% (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 Mega First Corporation Bhd (3069)?
On an EBIT basis the return on assets of Mega First Corporation Bhd is 11.6% (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 Mega First Corporation Bhd (3069)?
The operating margin of Mega First Corporation Bhd is 34.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mega First Corporation Bhd (3069)?
Revenue at Mega First Corporation Bhd is growing −10.2% versus a year earlier (3y avg +2.0%). 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 Mega First Corporation Bhd (3069)?
Earnings per share at Mega First Corporation Bhd are growing −0.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Mega First Corporation Bhd (3069) carry?
The net debt of Mega First Corporation Bhd is 584M MYR (fiscal year 2025, ≈ 1.0 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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