Berjaya Assets Bhd (3239) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Berjaya Assets Bhd MYR 0.11, price MYR 0.29, upside -62.1%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 0.2400 MYR – 0.4500 MYR · fair‑value band 0.0800 MYR – 0.1500 MYR · the 0.2900 MYR price screens above the 0.1100 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Berjaya Assets Berhad, an investment holding company, primarily engages in the property development and investment business in Malaysia and internationally. It operates through Property Development and Property Investment; Gaming and Related Activities; and Recreation and Others segments.
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Berjaya Assets Berhad, an investment holding company, primarily engages in the property development and investment business in Malaysia and internationally. It operates through Property Development and Property Investment; Gaming and Related Activities; and Recreation and Others segments. The company engages in the investment, development, management, and leasing of properties; operation of a hotel, theme park, and car park; management of a ferry terminal; leasing of theatre; vehicle assembly and manufacture and sale of engines and transmissions; and general trading and commission agent operations, as well as operates number forecast lotteries. It also offers lottery consultancy, automotive engineering, and vehicle assembly and parts supply services. The company was formerly known as Matrix International Berhad and changed its name to Berjaya Assets Berhad in August 2009. Berjaya Assets Berhad was incorporated in 1960 and is headquartered in Kuala Lumpur, Malaysia.
Stock analysis
Berjaya Assets Bhd (3239) currently trades at 0.2900 MYR, while our model-based Fair Value estimate is 0.1100 MYR, implying the stock looks roughly 163.6% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 0.4900 MYR per share, and 1 of the 3 models we run sit above the 0.2900 MYR price.
Bear case: the Growth DCF group reads lowest at 0.1300 MYR, and 2 of the 3 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.0800 MYR (bear) to 0.1500 MYR (bull), the price of 0.2900 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 62/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Berjaya Assets Bhd reported revenue of 259M MYR in FY2025 versus 178M MYR in FY2021, a compound +9.8%/yr. Reported net income was −17.8M MYR in FY2025.
Key figures
Market cap 742M MYR (≈ $182M) · P/E ratio 29.0 · P/S ratio 2.60 · EPS (TTM) 0.0100 MYR · Net margin −6.9% · Return on equity 2.0% · Return on assets (EBIT) 0.5% · Operating margin 28.7%.
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 9% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 16% fair-value upside, at −62%, 3239 screens richer than that median.
Fair Value models
Bear 0.0800 MYRFair Value 0.1100 MYRBull 0.1500 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 12 months old). Earnings retained since then (0.0100 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+6.5%
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.
+14.2%
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.
+1.0%
Start year 2020 (pandemic). Over 10 years: −4.6% a year
Revenue growth 13 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.
−1.9%
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Profit margin (trend) ⓘ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.
−18.0% (2020) → 19.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+24.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +22.3% a year for the price.
Price, fair value, quality and upside side by side.
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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.Conglomerates · 378 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside−62% · Bottom 25%
Profitability
Return on equity (TTM)2% · Below median
Return on assets2% · Below median
Net margin (TTM)13% · Top 25%
Operating margin (TTM)29% · Top 25%
Growth and dividend
Revenue growth28% · Top 25%
Balance sheet
Debt / equity0.11× · Below median
Valuation Multiplesvs Conglomerates median · lower = cheaper
P/E (TTM)29.0× · Pricier than median
P/B0.40× · Cheaper than median
P/S (TTM)2.55× · Priciest 25%
P/FCF3.7× · Pricier than median
EV/EBITDA10.1× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 33
FUTURE (revenue growth)100· sector 16
PAST (return on equity)8· sector 19
HEALTH (low debt)95· sector 89
DIVIDEND (yield)0· sector 40
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Berjaya Assets Bhd Fair Value". https://www.fairvalue-calculator.com/stock/3239
Frequently asked questions
Is Berjaya Assets Bhd (3239) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.1100 MYR versus a price of 0.2900 MYR, about −62% upside (overvalued).
What is the fair value of 3239?
Our model-based fair value for Berjaya Assets Bhd is 0.1100 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.2900 MYR.
What is the quality score of 3239?
Berjaya Assets Bhd has a Quality Score of 62/100. 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 Berjaya Assets Bhd (3239)?
Our model-based price target is the fair value of 0.1100 MYR (as of Sep 24, 2026) from 3 valuation models. Cautious scenario 0.0800 MYR, optimistic scenario 0.1500 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Berjaya Assets Bhd stock forecast for 2026?
Our models put fair value at 0.1100 MYR, about −62% upside versus a price of 0.2900 MYR (overvalued). Cautious scenario 0.0800 MYR, optimistic scenario 0.1500 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Berjaya Assets Bhd (3239)?
Berjaya Assets Bhd reported trailing-twelve-month revenue of about 290M MYR (latest available figure, as of Sep 24, 2026).
What growth is priced into Berjaya Assets Bhd (3239)?
For today's price to be fair in a discounted-cash-flow model, Berjaya Assets Bhd would have to grow free cash flow by +24.7 % per year for five years (discount rate 14.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 3239 use?
Our models discount Berjaya Assets Bhd at 14.1 %: a base by market capitalisation (micro), 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 Berjaya Assets Bhd that is +24.7 % per year a year over ten years, using the same discount rate (14.1 %) and the same formula as our fair value.
How much growth has Berjaya Assets Bhd (3239) delivered so far?
Over the past 5 years revenue at Berjaya Assets Bhd grew +1.0 % a year. The price currently implies +24.7 % 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 Berjaya Assets Bhd (3239) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Berjaya Assets Bhd (+24.7 % 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 Berjaya Assets Bhd (3239)?
The free-cash-flow yield on the price is 6.57 %: that much free cash flow Berjaya Assets Bhd produces per unit of market value. When it exceeds the discount rate of our models (14.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Berjaya Assets Bhd (3239)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Berjaya Assets Bhd it is 0.1100 MYR per share (as of Sep 24, 2026), against a price of 0.2900 MYR. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Berjaya Assets Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 3239 trades above its calculated fair value: price 0.2900 MYR, fair value 0.1100 MYR, a gap of about −62% (overvalued). 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 3239?
No. The price is what the market pays today (0.2900 MYR); the fair value is what the company's own numbers justify (0.1100 MYR). For Berjaya Assets Bhd the two are 0.1800 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Berjaya Assets Bhd worth?
The market values Berjaya Assets Bhd at about 742M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 0.2900 MYR; our models calculate a fair value of 0.1100 MYR per share.
What do the bullish and bearish scenarios say about 3239?
Our models span a range for Berjaya Assets Bhd: cautious scenario 0.0800 MYR, base 0.1100 MYR, optimistic 0.1500 MYR per share (as of Sep 24, 2026, price 0.2900 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3239?
Berjaya Assets Bhd trades at a price-to-earnings ratio of 29.0 (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 0.1100 MYR is built from several models across several years. Other multiples: P/B 0.4, P/S 2.6, EV/EBITDA 10.1.
How solid is the balance sheet of Berjaya Assets Bhd (3239)?
Balance-sheet figures for Berjaya Assets Bhd (as of Sep 24, 2026): return on equity 2.0%, debt of 0.11 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 3239 from its 52-week high?
Berjaya Assets Bhd trades at 0.2900 MYR, about 9% below its 52-week high of 0.3200 MYR and 4% above the low of 0.2800 MYR (as of Sep 22, 2026). Distance from the high says nothing about value: that is what the fair value of 0.1100 MYR is for.
Which stocks are comparable to Berjaya Assets Bhd?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, CITIC Limited, Poste Italiane S.p.A, 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 Berjaya Assets Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 0.2900 MYR, calculated fair value 0.1100 MYR (−62%), Quality Score 62/100, from 3 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 3239 calculated?
We run Berjaya Assets Bhd through 3 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 0.1100 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 13.2 % above its aggregate fair value. Berjaya Assets Bhd itself currently trades above fair value. 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 Berjaya Assets Bhd (3239)?
The closing price on Sep 22, 2026 was 0.2900 MYR. Our model-based fair value is 0.1100 MYR, about −62% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Berjaya Assets Bhd right now?
The price sits above even our optimistic bull case (0.1500 MYR). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (0.0800 MYR to 0.1500 MYR) leaves room in how you read the outcome.
Key figures of Berjaya Assets Bhd
How large is the market capitalisation of Berjaya Assets Bhd (3239)?
The market capitalisation of Berjaya Assets Bhd is 742M MYR (≈ $182M). 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 Berjaya Assets Bhd (3239)?
The price-to-sales ratio of Berjaya Assets Bhd is 2.60 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Berjaya Assets Bhd (3239)?
Earnings per share at Berjaya Assets Bhd are 0.0100 MYR (price ÷ EPS = P/E 29.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Berjaya Assets Bhd (3239)?
The net margin of Berjaya Assets Bhd is −6.9% (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 Berjaya Assets Bhd (3239)?
The return on equity (ROE) of Berjaya Assets Bhd is 2.0% (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 Berjaya Assets Bhd (3239)?
On an EBIT basis the return on assets of Berjaya Assets Bhd is 0.5% (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 Berjaya Assets Bhd (3239)?
The operating margin of Berjaya Assets Bhd is 28.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Berjaya Assets Bhd (3239)?
Revenue at Berjaya Assets Bhd is growing +27.6% versus a year earlier (3y avg +14.2%). 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 Berjaya Assets Bhd (3239)?
Earnings per share at Berjaya Assets Bhd are growing +109% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Berjaya Assets Bhd (3239) carry?
The net debt of Berjaya Assets Bhd is 566M MYR (fiscal year 2025, ≈ 11.6 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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