Magnum Bhd (3859) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Magnum Bhd MYR 1.68, price MYR 1.20, upside +40.0%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Magnum Berhad, an investment holding company, engages in the gaming business in Malaysia. It operates through two segments, Gaming; and Investment Holdings and Others. The company operates and manages a licensed four-digit numbers forecast betting business and its variation games.
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Magnum Berhad, an investment holding company, engages in the gaming business in Malaysia. It operates through two segments, Gaming; and Investment Holdings and Others. The company operates and manages a licensed four-digit numbers forecast betting business and its variation games. Its game portfolio includes 4D Classic, 4D Jackpot, 4D Jackpot Gold, and Magnum Life. The company also provides property management, management, and information technology services. The company was formerly known as Multi-Purpose Holdings Berhad and changed its name to Magnum Berhad in July 2013. Magnum Berhad was founded in 1968 and is based in Kuala Lumpur, Malaysia.
Stock analysis
Magnum Bhd (3859) currently trades at 1.20 MYR, while our model-based Fair Value estimate is 1.68 MYR, implying the stock looks roughly 28.6% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 1.98 MYR per share, and 20 of the 24 models we run sit above the 1.20 MYR price.
Bear case: the Dividend Discount group reads lowest at 0.9800 MYR, and 4 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 1.21 MYR (bear) to 2.28 MYR (bull), the price of 1.20 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 64/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Magnum Bhd reported revenue of 2.3B MYR in FY2025 versus 1.3B MYR in FY2021, a compound +16.2%/yr. Reported net income was 166M MYR in FY2025.
Key figures
Market cap 1.7B MYR (≈ $423M) · P/E ratio 10.9 · P/S ratio 0.79 · EPS (TTM) 0.1100 MYR · Dividend yield 7.5% · Net margin 7.2% · Return on equity 6.4% · Return on assets (EBIT) 6.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (medium confidence).
What moves the price
The share trades about 14% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 24% fair-value upside, at 40%, 3859 screens cheaper than that median.
Fair Value models
Bear 1.21 MYRFair Value 1.68 MYRBull 2.28 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 (0.0147 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.67/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.0%
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.
+4.2%
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.
+6.5%
Start year 2020 (pandemic). Over 10 years: −1.8% a year
Revenue growth 20 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.
+14.1%
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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.
+12.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.0%
Dividend (yield on the price)7.5%
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.5% vs −3%, picking up
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.12% → 15%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 2.5%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+3.7%
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 +1.7% 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.Gambling · 57 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside+40% · Above median
Profitability
Return on equity (TTM)6% · Below median
Return on assets4% · Above median
Net margin (TTM)7% · Above median
Operating margin (TTM)12% · Above median
Growth and dividend
Revenue growth−11% · Bottom 25%
Dividend yield (TTM)7.5% · Top 25%
Balance sheet
Debt / equity0.22× · Below median
Valuation Multiplesvs Gambling median · lower = cheaper
P/E (TTM)10.9× · Cheaper than median
P/B0.17× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
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). "Magnum Bhd Fair Value". https://www.fairvalue-calculator.com/stock/3859
Frequently asked questions
Is Magnum Bhd (3859) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 1.68 MYR versus a price of 1.20 MYR, about +40% upside (undervalued).
What is the fair value of 3859?
Our model-based fair value for Magnum Bhd is 1.68 MYR (as of Sep 23, 2026), built from audited fundamentals. The current price: 1.20 MYR.
What is the quality score of 3859?
Magnum Bhd has a Quality Score of 64/100. 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 Magnum Bhd (3859)?
Our model-based price target is the fair value of 1.68 MYR (as of Sep 23, 2026) from 24 valuation models. Cautious scenario 1.21 MYR, optimistic scenario 2.28 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Magnum Bhd stock forecast for 2026?
Our models put fair value at 1.68 MYR, about +40% upside versus a price of 1.20 MYR (undervalued). Cautious scenario 1.21 MYR, optimistic scenario 2.28 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Magnum Bhd (3859)?
Magnum Bhd reported trailing-twelve-month revenue of about 2.2B MYR (latest available figure, as of Sep 23, 2026).
Does Magnum Bhd pay a dividend?
Magnum Bhd currently shows a dividend yield of about 7.50% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Magnum Bhd (3859)?
For today's price to be fair in a discounted-cash-flow model, Magnum Bhd would have to grow free cash flow by +3.7 % 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 +6.5 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 3859 use?
Our models discount Magnum Bhd at 11.1 %: a base by market capitalisation (small), damped by beta 0.23, 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 Magnum Bhd that is +3.7 % 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 Magnum Bhd (3859) delivered so far?
Over the past 5 years revenue at Magnum Bhd grew +6.5 % a year. The price currently implies +3.7 % 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 Magnum Bhd (3859) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Magnum Bhd (+3.7 % 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 Magnum Bhd (3859)?
The free-cash-flow yield on the price is 10.38 %: that much free cash flow Magnum 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 Magnum Bhd (3859)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Magnum Bhd it is 1.68 MYR per share (as of Sep 23, 2026), against a price of 1.20 MYR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Magnum Bhd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 3859 trades below its calculated fair value: price 1.20 MYR, fair value 1.68 MYR, a gap of about +40% (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 3859?
No. The price is what the market pays today (1.20 MYR); the fair value is what the company's own numbers justify (1.68 MYR). For Magnum Bhd the two are 0.4800 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Magnum Bhd worth?
The market values Magnum Bhd at about 1.7B MYR (market capitalisation, as of Sep 23, 2026). Per share that is 1.20 MYR; our models calculate a fair value of 1.68 MYR per share.
What do the bullish and bearish scenarios say about 3859?
Our models span a range for Magnum Bhd: cautious scenario 1.21 MYR, base 1.68 MYR, optimistic 2.28 MYR per share (as of Sep 23, 2026, price 1.20 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3859?
Magnum Bhd trades at a price-to-earnings ratio of 10.9 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.68 MYR is built from several models across several years. Other multiples: PEG 0.5, P/B 0.2, P/S 0.2, EV/EBITDA 3.0.
What is the PEG ratio of 3859?
The PEG ratio of Magnum Bhd is 0.48 (P/E divided by earnings growth, as of Sep 23, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Magnum Bhd (3859)?
Balance-sheet figures for Magnum Bhd (as of Sep 23, 2026): return on equity 6.4%, debt of 0.22 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 3859 from its 52-week high?
Magnum Bhd trades at 1.20 MYR, about 14% below its 52-week high of 1.39 MYR and 1% above the low of 1.19 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 1.68 MYR is for.
Which stocks are comparable to Magnum Bhd?
From the same area (Consumer Cyclical) we also value Flutter Entertainment plc, Evolution AB, The Lottery Corporation, Rush Street Interactive, Inc, 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 Magnum Bhd stock attractive at the current price?
The data as of Sep 23, 2026: price 1.20 MYR, calculated fair value 1.68 MYR (+40%), Quality Score 64/100, from 24 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 3859 calculated?
We run Magnum Bhd through 24 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 1.68 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 14.0 % above its aggregate fair value. Magnum Bhd currently trades 40 % 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 Magnum Bhd (3859)?
The closing price on Sep 24, 2026 was 1.20 MYR. Our model-based fair value is 1.68 MYR, about +40% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Magnum Bhd right now?
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 quality (64/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (1.21 MYR to 2.28 MYR) leaves room in how you read the outcome.
Where does the earnings growth of Magnum Bhd (3859) come from?
Earnings per share at Magnum Bhd grew −4.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share −2.4 %, EBIT margin −1.2 %, tax rate +0.0 %, residual (interest, one-offs) −1.0 %. 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 Magnum Bhd
How large is the market capitalisation of Magnum Bhd (3859)?
The market capitalisation of Magnum Bhd is 1.7B MYR (≈ $423M). 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 Magnum Bhd (3859)?
The price-to-sales ratio of Magnum Bhd is 0.79 (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 Magnum Bhd (3859)?
Earnings per share at Magnum Bhd are 0.1100 MYR (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Magnum Bhd (3859)?
The dividend yield of Magnum Bhd is 7.5% (payout 81.8%). 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 Magnum Bhd (3859)?
The net margin of Magnum Bhd is 7.2% (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 Magnum Bhd (3859)?
The return on equity (ROE) of Magnum Bhd is 6.4% (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 Magnum Bhd (3859)?
On an EBIT basis the return on assets of Magnum Bhd is 6.3% (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 Magnum Bhd (3859)?
The operating margin of Magnum Bhd is 11.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Magnum Bhd (3859)?
Revenue at Magnum Bhd is growing −11.4% versus a year earlier (3y avg +4.2%). 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 Magnum Bhd (3859)?
Earnings per share at Magnum Bhd are growing −11.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Magnum Bhd (3859) carry?
The net debt of Magnum Bhd is 501M MYR (fiscal year 2025, ≈ 2.8 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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