Malaysian Pacific Industries (3867) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Malaysian Pacific Industries MYR 13.90, price MYR 44.58, upside -68.8%, quality 60 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 13.31 MYR – 49.90 MYR · fair‑value band 9.40 MYR – 18.91 MYR · the 44.58 MYR price screens above the 13.90 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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Malaysian Pacific Industries Berhad, an investment holding company, engages in the manufacturing, assembling, testing, marketing, and sale of integrated circuits, semiconductor devices, electronic components, and lead frames. The company also provides outsourced semiconductor packaging and testing services.
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Malaysian Pacific Industries Berhad, an investment holding company, engages in the manufacturing, assembling, testing, marketing, and sale of integrated circuits, semiconductor devices, electronic components, and lead frames. The company also provides outsourced semiconductor packaging and testing services. It operates in Ireland, Taiwan, Malaysia, the United States, Singapore, the People's Republic of China, and internationally. The company was formerly known as Federal Paper Products Sdn Berhad and changed its name to Malaysian Pacific Industries Berhad in May 1983. The company was incorporated in 1962 and is based in Ipoh, Malaysia. Malaysian Pacific Industries Berhad is a subsidiary of Hong Leong Manufacturing Group Sdn Bhd.
Stock analysis
Malaysian Pacific Industries (3867) currently trades at 44.58 MYR, while our model-based Fair Value estimate is 13.90 MYR, implying the stock looks roughly 220.7% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 17.00 MYR per share, and 0 of the 25 models we run sit above the 44.58 MYR price.
Bear case: the Dividend Discount group reads lowest at 4.39 MYR, and 25 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: 9.40 MYR (bear) to 18.91 MYR (bull), the price of 44.58 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 60/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Malaysian Pacific Industries reported revenue of 2.1B MYR in FY2025 versus 2.0B MYR in FY2021, a compound +1.7%/yr. Reported net income was 154M MYR in FY2025, compounding −13.3%/yr from FY2021.
Key figures
Market cap 8.9B MYR (≈ $2.2B) · P/E ratio 47.4 · P/S ratio 3.42 · EPS (TTM) 0.9400 MYR · Dividend yield 0.9% · Net margin 7.2% · Return on equity 9.3% · Return on assets (EBIT) 9.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 59% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −17% fair-value upside, at −69%, 3867 screens richer than that median.
Fair Value models
Bear 9.40 MYRFair Value 13.90 MYRBull 18.91 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 (0.5400 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 inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+1.7%
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.
−4.1%
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.
+6.4%
Start year 2020 (pandemic). Over 10 years: +4.4% 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.
+3.3%
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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.
+0.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.8%
Dividend (yield on the price)0.9%
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.−1% vs 3%, 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.13% → 8%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more 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).
+40.7%
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.
+10.6%
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 +38.0% a year for the price and +8.4% for the forecasts.
Compare Malaysian Pacific Industries with another stock
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.Semiconductors · 340 stocks
Beats the industry median on 11/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−69% · Below median
Profitability
Return on equity (TTM)9% · Above median
Return on assets4% · Above median
Net margin (TTM)8% · Above median
Operating margin (TTM)7% · Below median
Growth and dividend
Revenue growth25% · Above median
Dividend yield (TTM)0.9% · Below median
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (TTM)47.4× · Cheaper than median
P/B1.05× · Cheapest 25%
P/S (TTM)0.88× · Cheapest 25%
P/FCF22.0× · Priciest 25%
EV/EBITDA3.5× · Cheapest 25%
PEG0.96× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 64
PAST (return on equity)37· sector 22
HEALTH (low debt)98· sector 95
DIVIDEND (yield)18· sector 19
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.
Is Malaysian Pacific Industries (3867) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 13.90 MYR versus a price of 44.58 MYR, about −69% upside (overvalued).
What is the fair value of 3867?
Our model-based fair value for Malaysian Pacific Industries is 13.90 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 44.58 MYR.
What is the quality score of 3867?
Malaysian Pacific Industries has a Quality Score of 60/100. 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 Malaysian Pacific Industries (3867)?
Our model-based price target is the fair value of 13.90 MYR (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 9.40 MYR, optimistic scenario 18.91 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Malaysian Pacific Industries stock forecast for 2026?
Our models put fair value at 13.90 MYR, about −69% upside versus a price of 44.58 MYR (overvalued). Cautious scenario 9.40 MYR, optimistic scenario 18.91 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Malaysian Pacific Industries (3867)?
Malaysian Pacific Industries reported trailing-twelve-month revenue of about 2.5B MYR (latest available figure, as of Sep 24, 2026).
Does Malaysian Pacific Industries pay a dividend?
Malaysian Pacific Industries currently shows a dividend yield of about 0.90% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Malaysian Pacific Industries (3867)?
For today's price to be fair in a discounted-cash-flow model, Malaysian Pacific Industries would have to grow free cash flow by +40.7 % 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 +6.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 3867 use?
Our models discount Malaysian Pacific Industries at 11.1 %: a base by market capitalisation (mid), damped by beta 1.02, 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 Malaysian Pacific Industries that is +40.7 % 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 Malaysian Pacific Industries (3867) delivered so far?
Over the past 5 years revenue at Malaysian Pacific Industries grew +6.4 % a year. The price currently implies +40.7 % 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 Malaysian Pacific Industries (3867) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Malaysian Pacific Industries (+40.7 % 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 Malaysian Pacific Industries (3867)?
The free-cash-flow yield on the price is 1.12 %: that much free cash flow Malaysian Pacific Industries 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 Malaysian Pacific Industries (3867)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Malaysian Pacific Industries it is 13.90 MYR per share (as of Sep 24, 2026), against a price of 44.58 MYR. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Malaysian Pacific Industries stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 3867 trades above its calculated fair value: price 44.58 MYR, fair value 13.90 MYR, a gap of about −69% (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 3867?
No. The price is what the market pays today (44.58 MYR); the fair value is what the company's own numbers justify (13.90 MYR). For Malaysian Pacific Industries the two are 30.68 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Malaysian Pacific Industries worth?
The market values Malaysian Pacific Industries at about 8.9B MYR (market capitalisation, as of Sep 24, 2026). Per share that is 44.58 MYR; our models calculate a fair value of 13.90 MYR per share.
What do the bullish and bearish scenarios say about 3867?
Our models span a range for Malaysian Pacific Industries: cautious scenario 9.40 MYR, base 13.90 MYR, optimistic 18.91 MYR per share (as of Sep 24, 2026, price 44.58 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3867?
Malaysian Pacific Industries trades at a price-to-earnings ratio of 47.4 (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 13.90 MYR is built from several models across several years. Other multiples: PEG 1.0, P/B 1.1, P/S 0.9, EV/EBITDA 3.5.
What is the PEG ratio of 3867?
The PEG ratio of Malaysian Pacific Industries is 0.96 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Malaysian Pacific Industries (3867)?
Balance-sheet figures for Malaysian Pacific Industries (as of Sep 24, 2026): return on equity 9.3%, debt of 0.05 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 3867 from its 52-week high?
Malaysian Pacific Industries trades at 44.58 MYR, about 11% below its 52-week high of 49.90 MYR and 59% above the low of 28.12 MYR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 13.90 MYR is for.
Which stocks are comparable to Malaysian Pacific Industries?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix 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 Malaysian Pacific Industries stock attractive at the current price?
The data as of Sep 24, 2026: price 44.58 MYR, calculated fair value 13.90 MYR (−69%), Quality Score 60/100, from 25 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 3867 calculated?
We run Malaysian Pacific Industries through 25 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 13.90 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. Malaysian Pacific Industries 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 Malaysian Pacific Industries (3867)?
The closing price on Sep 23, 2026 was 44.58 MYR. Our model-based fair value is 13.90 MYR, about −69% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Malaysian Pacific Industries right now?
The price sits above even our optimistic bull case (18.91 MYR). The favourable scenario is already priced in. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (9.40 MYR to 18.91 MYR) leaves room in how you read the outcome.
Where does the earnings growth of Malaysian Pacific Industries (3867) come from?
Earnings per share at Malaysian Pacific Industries grew +1.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.2 %, EBIT margin −2.5 %, tax rate +0.1 %, 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 Malaysian Pacific Industries
How large is the market capitalisation of Malaysian Pacific Industries (3867)?
The market capitalisation of Malaysian Pacific Industries is 8.9B MYR (≈ $2.2B). 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 Malaysian Pacific Industries (3867)?
The price-to-sales ratio of Malaysian Pacific Industries is 3.42 (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 Malaysian Pacific Industries (3867)?
Earnings per share at Malaysian Pacific Industries are 0.9400 MYR (price ÷ EPS = P/E 47.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Malaysian Pacific Industries (3867)?
The dividend yield of Malaysian Pacific Industries is 0.9% (payout 42.6%). 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 Malaysian Pacific Industries (3867)?
The net margin of Malaysian Pacific Industries 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 Malaysian Pacific Industries (3867)?
The return on equity (ROE) of Malaysian Pacific Industries is 9.3% (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 Malaysian Pacific Industries (3867)?
On an EBIT basis the return on assets of Malaysian Pacific Industries is 9.0% (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 Malaysian Pacific Industries (3867)?
The operating margin of Malaysian Pacific Industries is 7.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Malaysian Pacific Industries (3867)?
Revenue at Malaysian Pacific Industries is growing +25.3% versus a year earlier (3y avg −4.1%). 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 Malaysian Pacific Industries (3867)?
Earnings per share at Malaysian Pacific Industries are growing −15.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Malaysian Pacific Industries (3867) hold?
Malaysian Pacific Industries holds more cash than debt, 345M MYR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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