KSL Holdings Bhd (5038) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of KSL Holdings Bhd MYR 4.11, price MYR 2.58, upside +59.3%, quality 49 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 0.5379 MYR – 3.50 MYR · fair‑value band 3.70 MYR – 6.35 MYR · the 2.58 MYR price screens below the 4.11 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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KSL Holdings Berhad, an investment holding company, engages in the property development business in Malaysia. The company operates through four segments: Property Development, Property Investment, Investment Holding, and Car Park Operation.
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KSL Holdings Berhad, an investment holding company, engages in the property development business in Malaysia. The company operates through four segments: Property Development, Property Investment, Investment Holding, and Car Park Operation. The company's property portfolio includes townships, shopping malls, hotels and resorts, and high-rise residences, as well as a factory/warehouse. It also develops residential and commercial properties, including land homes, condominiums, retail shop offices; invests in real properties; operates hotels and malls; and operates and manages car parks. In addition, the company offers management services; wellness and health care related products and services; and food and beverage related products and services. KSL Holdings Berhad was incorporated in 2000 and is headquartered in Segamat, Malaysia.
Stock analysis
KSL Holdings Bhd (5038) currently trades at 2.58 MYR, while our model-based Fair Value estimate is 4.11 MYR, implying the stock looks roughly 37.2% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 8.71 MYR per share, and 7 of the 9 models we run sit above the 2.58 MYR price.
Bear case: the Asset-Based group reads lowest at 2.94 MYR, and 2 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: 3.70 MYR (bear) to 6.35 MYR (bull), the price of 2.58 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 49/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
KSL Holdings Bhd reported revenue of 1.7B MYR in FY2025 versus 468M MYR in FY2021, a compound +37.4%/yr. Reported net income was 526M MYR in FY2025, compounding +46.4%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 3.1B MYR (≈ $772M) · P/E ratio 5.3 · P/S ratio 1.66 · EPS (TTM) 0.4900 MYR · Dividend yield 3.9% · Net margin 31.6% · Return on equity 11.8% · Return on assets (EBIT) 9.2%.
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 26% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at 59%, 5038 screens cheaper than that median.
Fair Value models
Bear 3.70 MYRFair Value 4.11 MYRBull 6.35 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 (0.2853 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+20.9%
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.
+42.6%
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.
+37.4%
Start year 2020 (pandemic). Over 10 years: +9.3% 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.
+11.5%
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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.
+27.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.4%
Dividend (yield on the price)3.9%
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.23% vs 5%, 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.−14% → 42%
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.Real Estate - Development · 578 stocks
Beats the industry median on 12/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score48 · Above median
Fair Value upside+59% · Above median
Profitability
Return on equity (TTM)12% · Top 25%
Return on assets6% · Top 25%
Net margin (TTM)34% · Top 25%
Operating margin (TTM)32% · Top 25%
Growth and dividend
Revenue growth16% · Above median
Dividend yield (TTM)3.9% · Above median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
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). "KSL Holdings Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5038
Frequently asked questions
Is KSL Holdings Bhd (5038) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 4.11 MYR versus a price of 2.58 MYR, about +59% upside (undervalued).
What is the fair value of 5038?
Our model-based fair value for KSL Holdings Bhd is 4.11 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 2.58 MYR.
What is the quality score of 5038?
KSL Holdings Bhd has a Quality Score of 49/100. 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 KSL Holdings Bhd (5038)?
Our model-based price target is the fair value of 4.11 MYR (as of Sep 24, 2026) from 9 valuation models. Cautious scenario 3.70 MYR, optimistic scenario 6.35 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the KSL Holdings Bhd stock forecast for 2026?
Our models put fair value at 4.11 MYR, about +59% upside versus a price of 2.58 MYR (undervalued). Cautious scenario 3.70 MYR, optimistic scenario 6.35 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of KSL Holdings Bhd (5038)?
KSL Holdings Bhd reported trailing-twelve-month revenue of about 1.6B MYR (latest available figure, as of Sep 24, 2026).
Does KSL Holdings Bhd pay a dividend?
KSL Holdings Bhd currently shows a dividend yield of about 3.88% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of KSL Holdings Bhd (5038)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KSL Holdings Bhd it is 4.11 MYR per share (as of Sep 24, 2026), against a price of 2.58 MYR. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is KSL Holdings Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5038 trades below its calculated fair value: price 2.58 MYR, fair value 4.11 MYR, a gap of about +59% (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 5038?
No. The price is what the market pays today (2.58 MYR); the fair value is what the company's own numbers justify (4.11 MYR). For KSL Holdings Bhd the two are 1.53 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is KSL Holdings Bhd worth?
The market values KSL Holdings Bhd at about 3.1B MYR (market capitalisation, as of Sep 24, 2026). Per share that is 2.58 MYR; our models calculate a fair value of 4.11 MYR per share.
What do the bullish and bearish scenarios say about 5038?
Our models span a range for KSL Holdings Bhd: cautious scenario 3.70 MYR, base 4.11 MYR, optimistic 6.35 MYR per share (as of Sep 24, 2026, price 2.58 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5038?
KSL Holdings Bhd trades at a price-to-earnings ratio of 5.3 (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 4.11 MYR is built from several models across several years. Other multiples: P/B 0.2, P/S 0.5, EV/EBITDA 0.8.
How solid is the balance sheet of KSL Holdings Bhd (5038)?
Balance-sheet figures for KSL Holdings Bhd (as of Sep 24, 2026): return on equity 11.8%. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 5038 from its 52-week high?
KSL Holdings Bhd trades at 2.58 MYR, about 26% below its 52-week high of 3.50 MYR and at the low of 2.58 MYR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 4.11 MYR is for.
Which stocks are comparable to KSL Holdings Bhd?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, 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 KSL Holdings Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 2.58 MYR, calculated fair value 4.11 MYR (+59%), Quality Score 49/100, from 9 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 5038 calculated?
We run KSL Holdings Bhd through 9 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 4.11 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. KSL Holdings Bhd currently trades 59 % 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 KSL Holdings Bhd (5038)?
The closing price on Sep 23, 2026 was 2.58 MYR. Our model-based fair value is 4.11 MYR, about +59% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KSL Holdings Bhd right now?
The price is below even our cautious bear case (3.70 MYR). The market is more pessimistic than our downside scenario. 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 (49/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of KSL Holdings Bhd
How large is the market capitalisation of KSL Holdings Bhd (5038)?
The market capitalisation of KSL Holdings Bhd is 3.1B MYR (≈ $772M). 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 KSL Holdings Bhd (5038)?
The price-to-sales ratio of KSL Holdings Bhd is 1.66 (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 KSL Holdings Bhd (5038)?
Earnings per share at KSL Holdings Bhd are 0.4900 MYR (price ÷ EPS = P/E 5.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of KSL Holdings Bhd (5038)?
The dividend yield of KSL Holdings Bhd is 3.9% (payout 20.4%). 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 KSL Holdings Bhd (5038)?
The net margin of KSL Holdings Bhd is 31.6% (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 KSL Holdings Bhd (5038)?
The return on equity (ROE) of KSL Holdings Bhd is 11.8% (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 KSL Holdings Bhd (5038)?
On an EBIT basis the return on assets of KSL Holdings Bhd is 9.2% (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 KSL Holdings Bhd (5038)?
The operating margin of KSL Holdings Bhd is 31.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KSL Holdings Bhd (5038)?
Revenue at KSL Holdings Bhd is growing +16.4% versus a year earlier (3y avg +42.6%). 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 KSL Holdings Bhd (5038)?
Earnings per share at KSL Holdings Bhd are growing +17.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does KSL Holdings Bhd (5038) generate?
The free cash flow of KSL Holdings Bhd is −299M MYR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does KSL Holdings Bhd (5038) carry?
The net debt of KSL Holdings Bhd is 511M MYR (fiscal year 2025). 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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