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Maxim Global Berhad (4022) Fair Value & Analysis

Real Estate · MY · Market cap 198M MYR

MG Maxim Global Berhad 4022 · KLSE
Price0.2650 MYR
Fair Value0.6750 MYR
Upside+154.7%
Quality48/100
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Mixed Growth
Thin margins · 6.8% net margin
Moderate debt · negative free cash flow
Ranks above peers (10/12)
Moderate moat 45/100
Evidence: Medium Range 0.3920 MYR – 0.9640 MYR Share as image

Fair value as of: Jul 12, 2026

From 7 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from 0.7000 MYR to 0.6750 MYR (−3.6%) since Jun 26, 2026.

Below-average quality, screening 155% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.3920 MYR). The market is more pessimistic than our downside scenario.
  • Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (0.3920 MYR to 0.9640 MYR) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

0.5869 MYR 0.2450 MYR Fair Value 0.6750 MYR Nov 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 0.2450 MYR – 0.5869 MYR · fair‑value band 0.3920 MYR – 0.9640 MYR · the 0.2650 MYR price screens below the 0.6750 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Maxim Global Berhad (4022) currently trades at 0.2650 MYR, while our model-based Fair Value estimate is 0.6750 MYR, implying the stock looks roughly 154.7% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Real Estate 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: medium), always confirm before acting.

Over the trailing twelve months, Maxim Global Berhad generated revenue of 417M MYR at a net margin of 6.8%. Revenue declined 24.0% year over year. It earns a return on equity of 7.5%. Net debt stands at 313M MYR. Fundamentals as of Jul 12, 2026

Our scenario range runs from 0.3920 MYR (bear case) to 0.9640 MYR (bull case); at 0.2650 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 37% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 155%, 4022 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
Residual Income 0.5300 MYR 0.5300 MYR 0.4700 MYR 76
P/S Multiple 0.5800 MYR 0.7700 MYR 0.9700 MYR 58
P/B Multiple 0.5800 MYR 0.7700 MYR 0.9700 MYR 55
All 7 models by family
Multiples
P/S Multiple 0.5800 MYR 0.7700 MYR 0.9700 MYR 58
P/B Multiple 0.5800 MYR 0.7700 MYR 0.9700 MYR 55
EV/EBIT 1.45 MYR 2.08 MYR 2.71 MYR 53
EV/EBITDA 1.04 MYR 1.53 MYR 2.02 MYR 54
EV/Revenue 0.6100 MYR 1.05 MYR 1.50 MYR 43
Asset-Based
NCAV (Graham) 0.3700 MYR 0.5000 MYR 0.7500 MYR 50
Economic Profit
Residual Income 0.5300 MYR 0.5300 MYR 0.4700 MYR 76

Widest divergence: Multiples (1.05 MYR) versus Asset-Based (0.5000 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 417M MYR
Revenue growth (YoY) -24.0%
Net margin 6.8%
Return on equity 7.5%
Free cash flow −77.2M MYR FY2025
P/E ratio 6.5
More key figures
Operating margin 16.7%
EPS (TTM) 0.0400 MYR
EPS growth (YoY) -53.1%
Net debt 313M MYR FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 46 · Market factors (momentum, volatility) 30

Profitability 28
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 53
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 90
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

Maxim Global Berhad engages in the property development and construction businesses in Malaysia. The company develops units of homes, apartments and terrace houses, and condominiums and service apartments.

Full company description

Maxim Global Berhad engages in the property development and construction businesses in Malaysia. The company develops units of homes, apartments and terrace houses, and condominiums and service apartments. It also engages in property investment activities; money lending business; timber, oil palm plantation, and palm oil trading; and provision of management services, as well as operates as a general contractor. Maxim Global Berhad was incorporated in 1968 and is based in Petaling Jaya, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Maxim Global Berhad reported revenue of 444M MYR in FY2025 versus 364M MYR in FY2021, a compound +5.1%/yr. Reported net income was 33.4M MYR in FY2025, compounding +4.4%/yr from FY2021.

Growth Quality 22/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
444M MYR
Latest YoY
+34.5%
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.
+8.0%
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.
+2.6%
Avg. growth/yr (12Y) 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.
+31.2%
Revenue +5.1%/yr
FY21 364M MYR
FY22 353M MYR
FY23 117M MYR
FY24 330M MYR
FY25 444M MYR
Net income +4.4%/yr
FY21 28.1M MYR
FY22 33.3M MYR
FY23 5.3M MYR
FY24 26.9M MYR
FY25 33.4M MYR

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Cite: Fair Value Calculator (2026). "Maxim Global Berhad Fair Value". https://www.fairvalue-calculator.com/stock/4022

Peer Group

Real Estate - Development · 588 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 49 · Above median
Fair Value upside +157% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 4% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 17% · Above median
Revenue growth -24% · Below median
Debt / equity 0.65× · Higher than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 6.8× · Cheaper than 75% of peers
P/B 0.09× · Cheaper than 75% of peers
P/S (TTM) 0.12× · Cheaper than 75% of peers
EV/EBITDA 4.8× · 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 100 · sector 48
FUTURE 0 · sector 0
PAST 30 · sector 10
HEALTH 68 · sector 84
DIVIDEND 0 · sector 38

Insider activity: 45/100

Values & ESG

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

None of the checked exposures detected

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

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Maxim Global Berhad (4022) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 0.6750 MYR versus a price of 0.2650 MYR, about +155% (undervalued).
What is the fair value of 4022?
Our model-based fair value for Maxim Global Berhad is 0.6750 MYR (as of Jul 12, 2026), built from audited fundamentals. The current price is 0.2650 MYR.
What is the quality score of 4022?
Maxim Global Berhad has a Quality Score of 48/100. 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 Maxim Global Berhad (4022)?
Maxim Global Berhad reported trailing-twelve-month revenue of about 417M MYR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 4022?
The net profit margin of Maxim Global Berhad is about 6.8%, meaning it keeps roughly 6.8% of revenue as net income. Based on the latest reported figures.

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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