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Magnum Berhad, an investment holding company, (3859) Fair Value & Analysis

Consumer Cyclical · MY · Market cap 1.8B MYR

MB Magnum Berhad, an investment holding company, 3859 · KLSE
Price1.25 MYR
Fair Value1.74 MYR
Upside+39.2%
Quality64/100
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Healthy Growth
Thin margins · 7.2% net margin
Low debt · generates free cash flow
6.98% dividend yield
Ranks above peers (14/15)
Narrow moat 42/100
Evidence: High Range 1.40 MYR – 2.40 MYR Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 27 days ago

Share price −3.1% over the past month.

A solid business, screening 39% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (1.40 MYR). The market is more pessimistic than our downside scenario.
  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

1.73 MYR 0.8147 MYR Fair Value 1.74 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 0.8147 MYR – 1.73 MYR · fair‑value band 1.40 MYR – 2.40 MYR · the 1.25 MYR price screens below the 1.74 MYR fair value. Dashed = 300-day average. As of Jul 14, 2026.

Full chart & analysis →

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Analysis

Magnum Berhad, an investment holding company, (3859) currently trades at 1.25 MYR, while our model-based Fair Value estimate is 1.74 MYR, implying the stock looks roughly 39.2% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Magnum Berhad, an investment holding company, generated revenue of 2.2B MYR at a net margin of 7.2%. Revenue declined 11.4% year over year. It earns a return on equity of 6.4%. Net debt stands at 501M MYR. Fundamentals as of Jul 14, 2026

Our scenario range runs from 1.40 MYR (bear case) to 2.40 MYR (bull case); at 1.25 MYR, the current price sits below 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 about 9% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -11% fair-value upside, at 39%, 3859 screens cheaper 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
Growth DCF 0.8500 MYR 1.16 MYR 1.54 MYR 80
Residual Income 1.34 MYR 1.39 MYR 1.37 MYR 76
Rev-Margin DCF 0.9300 MYR 1.51 MYR 2.14 MYR 74
All 24 models by family
DCF Models
FCF DCF 0.8300 MYR 1.16 MYR 1.59 MYR 38
Owner Earnings 0.6600 MYR 0.9400 MYR 1.30 MYR 31
5Y Revenue Exit 0.9300 MYR 1.49 MYR 2.20 MYR 39
5Y EBITDA Exit 1.29 MYR 2.12 MYR 3.07 MYR 41
5Y P/E Exit 1.17 MYR 1.90 MYR 2.65 MYR 38
10Y Revenue Exit 0.8500 MYR 1.31 MYR 1.85 MYR 36
10Y EBITDA Exit 1.08 MYR 1.69 MYR 2.41 MYR 37
10Y P/E Exit 1.01 MYR 1.56 MYR 2.14 MYR 35
Earnings-Based
Graham-Dodd 0.7900 MYR 1.58 MYR 1.99 MYR 54
EPV 1.22 MYR 1.42 MYR 1.59 MYR 59
Dividend Discount
Gordon GGM 0.7400 MYR 1.00 MYR 1.24 MYR 70
DDM Multi-Stage 0.7400 MYR 0.9800 MYR 1.23 MYR 61
Multiples
P/E Multiple 1.91 MYR 2.55 MYR 3.18 MYR 63
P/S Multiple 1.44 MYR 1.92 MYR 2.40 MYR 58
P/B Multiple 1.48 MYR 1.97 MYR 2.46 MYR 55
EV/EBIT 2.90 MYR 3.95 MYR 5.00 MYR 53
EV/EBITDA 1.92 MYR 2.64 MYR 3.36 MYR 54
EV/Revenue 1.10 MYR 1.67 MYR 2.25 MYR 43
Asset-Based
NCAV (Graham) 0.8800 MYR 1.17 MYR 1.75 MYR 50
Growth DCF
Growth DCF 0.8500 MYR 1.16 MYR 1.54 MYR 80
Rev-Margin DCF 0.9300 MYR 1.51 MYR 2.14 MYR 74
Economic Profit
Residual Income 1.34 MYR 1.39 MYR 1.37 MYR 76
ROIC Compounder 1.22 MYR 1.42 MYR 1.59 MYR 72
Growth Earnings
Growth-Adj P/E 1.38 MYR 1.98 MYR 2.57 MYR 68

Widest divergence: Growth Earnings (1.98 MYR) versus Dividend Discount (0.9800 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.2B MYR
Revenue growth (YoY) -11.4%
Net margin 7.2%
Return on equity 6.4%
Free cash flow 179M MYR FY2025
P/E ratio 11.5
More key figures
Operating margin 11.9%
EPS (TTM) 0.1100 MYR
Dividend yield 7.0%
EPS growth (YoY) -11.9%
Net debt 501M MYR FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 61 · Market factors (momentum, volatility) 55

Profitability 35
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 82
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Magnum Berhad, an investment holding company, 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.

Growth Quality 67/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.3B MYR
Latest YoY
+3.0%
Avg. growth/yr (3Y) 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.
+4.2%
Avg. growth/yr (5Y) 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.
+6.5%
Avg. growth/yr (20Y) 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.
+14.1%
Revenue +16.2%/yr
FY21 1.3B MYR
FY22 2.0B MYR
FY23 2.2B MYR
FY24 2.2B MYR
FY25 2.3B MYR
Net income
FY21 −1.3M MYR
FY22 101M MYR
FY23 125M MYR
FY24 153M MYR
FY25 166M MYR
Character of growth · EPS growth decomposed (2014-2025) −4.5 % p.a.
Revenue per share −2.4 pp

of which total revenue −2.4 pp · buybacks/dilution +0.0 pp

EBIT margin −1.2 pp
Tax rate +0.0 pp
Residual (interest, one-offs) −0.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Magnum Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/3859

Peer Group

Gambling · 54 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 64 · Above median
Fair Value upside +39% · Above median
Return on equity (TTM) 6% · Above median
Return on assets 4% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth -11% · Bottom 25%
Dividend yield (TTM) 7.0% · Above median
Debt / equity 0.22× · Lower than median

Valuation Multiples vs Gambling median · lower = cheaper

P/E (TTM) 11.5× · Cheaper than 75% of peers
P/B 0.18× · Cheaper than 75% of peers
P/S (TTM) 0.20× · Cheaper than 75% of peers
P/FCF 2.5× · Cheaper than 75% of peers
EV/EBITDA 3.1× · Cheaper than 75% of peers
PEG 0.48× · Cheaper than 75% of peers

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 86 · sector 30
FUTURE 0 · sector 9
PAST 26 · sector 26
HEALTH 89 · sector 89
DIVIDEND 100 · sector 66

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Gambling

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is Magnum Berhad, an investment holding company, (3859) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 1.74 MYR versus a price of 1.25 MYR, about +39% (undervalued).
What is the fair value of 3859?
Our model-based fair value for Magnum Berhad, an investment holding company, is 1.74 MYR (as of Jul 14, 2026), built from audited fundamentals. The current price is 1.25 MYR.
What is the quality score of 3859?
Magnum Berhad, an investment holding company, 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 revenue of Magnum Berhad, an investment holding company, (3859)?
Magnum Berhad, an investment holding company, reported trailing-twelve-month revenue of about 2.2B MYR (latest available figure, as of Jul 14, 2026).
What is the net profit margin of 3859?
The net profit margin of Magnum Berhad, an investment holding company, is about 7.2%, meaning it keeps roughly 7.2% of revenue as net income. Based on the latest reported figures.
Does Magnum Berhad, an investment holding company, pay a dividend?
Magnum Berhad, an investment holding company, currently shows a dividend yield of about 6.98% relative to its recent price (as of Jul 14, 2026).

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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