PBA Holdings Bhd (5041) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of PBA Holdings Bhd MYR 4.96, price MYR 2.16, upside +129.6%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PBA Holdings Bhd, an investment holding company, operates as a water supplier in Malaysia. The company involved in the abstraction of raw water; treatment of water; and supply and sale of treated water to consumers and related services. It also provides training facilities, education, and other non-water related services.
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PBA Holdings Bhd, an investment holding company, operates as a water supplier in Malaysia. The company involved in the abstraction of raw water; treatment of water; and supply and sale of treated water to consumers and related services. It also provides training facilities, education, and other non-water related services. PBA Holdings Bhd was incorporated in 2000 and is based in Georgetown, Malaysia.
Stock analysis
PBA Holdings Bhd (5041) currently trades at 2.16 MYR, while our model-based Fair Value estimate is 4.96 MYR, implying the stock looks roughly 56.5% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 5.88 MYR per share, and 14 of the 16 models we run sit above the 2.16 MYR price.
Bear case: the Dividend Discount group reads lowest at 0.5000 MYR, and 2 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 3.47 MYR (bear) to 6.45 MYR (bull), the price of 2.16 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 Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
PBA Holdings Bhd reported revenue of 568M MYR in FY2025 versus 309M MYR in FY2021, a compound +16.4%/yr. Reported net income was 115M MYR in FY2025, compounding +60.4%/yr from FY2021.
Key figures
Market cap 715M MYR (≈ $175M) · P/E ratio 5.3 · P/S ratio 1.06 · EPS (TTM) 0.4100 MYR · Dividend yield 2.3% · Net margin 20.2% · Return on equity 11.8% · Return on assets (EBIT) 4.1%.
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 6% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −42% fair-value upside, at 130%, 5041 screens cheaper than that median.
Fair Value models
Bear 3.47 MYRFair Value 4.96 MYRBull 6.45 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 (0.2643 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.50/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.7%
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.
+21.7%
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.
+11.1%
Start year 2020 (pandemic). Over 10 years: +6.6% 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.
+6.7%
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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. Basis: EBIT basis. 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.
≈ +32.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+30.3%
Dividend (yield on the price)2.3%
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.36% vs 6%, 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.13% → 27%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 131% above its own trend.
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.Utilities - Regulated Water · 65 stocks
Beats the industry median on 11/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Above median
Fair Value upside+130% · Top 25%
Profitability
Return on equity (TTM)12% · Top 25%
Return on assets6% · Top 25%
Net margin (TTM)23% · Top 25%
Operating margin (TTM)34% · Top 25%
Growth and dividend
Revenue growth17% · Top 25%
Dividend yield (TTM)2.3% · Below median
Balance sheet
Debt / equity0.27× · Lowest 25%
Valuation Multiplesvs Utilities - Regulated Water 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). "PBA Holdings Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5041
Frequently asked questions
Is PBA Holdings Bhd (5041) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 4.96 MYR versus a price of 2.16 MYR, about +130% upside (undervalued).
What is the fair value of 5041?
Our model-based fair value for PBA Holdings Bhd is 4.96 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 2.16 MYR.
What is the quality score of 5041?
PBA 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 PBA Holdings Bhd (5041)?
Our model-based price target is the fair value of 4.96 MYR (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 3.47 MYR, optimistic scenario 6.45 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the PBA Holdings Bhd stock forecast for 2026?
Our models put fair value at 4.96 MYR, about +130% upside versus a price of 2.16 MYR (undervalued). Cautious scenario 3.47 MYR, optimistic scenario 6.45 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of PBA Holdings Bhd (5041)?
PBA Holdings Bhd reported trailing-twelve-month revenue of about 590M MYR (latest available figure, as of Sep 24, 2026).
Does PBA Holdings Bhd pay a dividend?
PBA Holdings Bhd currently shows a dividend yield of about 2.31% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of PBA Holdings Bhd (5041)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PBA Holdings Bhd it is 4.96 MYR per share (as of Sep 24, 2026), against a price of 2.16 MYR. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is PBA Holdings Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5041 trades below its calculated fair value: price 2.16 MYR, fair value 4.96 MYR, a gap of about +130% (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 5041?
No. The price is what the market pays today (2.16 MYR); the fair value is what the company's own numbers justify (4.96 MYR). For PBA Holdings Bhd the two are 2.80 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is PBA Holdings Bhd worth?
The market values PBA Holdings Bhd at about 715M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 2.16 MYR; our models calculate a fair value of 4.96 MYR per share.
What do the bullish and bearish scenarios say about 5041?
Our models span a range for PBA Holdings Bhd: cautious scenario 3.47 MYR, base 4.96 MYR, optimistic 6.45 MYR per share (as of Sep 24, 2026, price 2.16 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5041?
PBA 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 4.96 MYR is built from several models across several years. Other multiples: P/B 0.2, P/S 0.3.
How solid is the balance sheet of PBA Holdings Bhd (5041)?
Balance-sheet figures for PBA Holdings Bhd (as of Sep 24, 2026): return on equity 11.8%, debt of 0.27 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 5041 from its 52-week high?
PBA Holdings Bhd trades at 2.16 MYR, about 6% below its 52-week high of 2.30 MYR and 22% above the low of 1.78 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 4.96 MYR is for.
Which stocks are comparable to PBA Holdings Bhd?
From the same area (Utilities) we also value American Water Works Company, SBS, Essential Utilities, Inc, Guangdong Investment Limited, 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 PBA Holdings Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 2.16 MYR, calculated fair value 4.96 MYR (+130%), Quality Score 49/100, from 16 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 5041 calculated?
We run PBA Holdings Bhd through 16 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 4.96 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. PBA Holdings Bhd currently trades 130 % 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 PBA Holdings Bhd (5041)?
The closing price on Sep 24, 2026 was 2.16 MYR. Our model-based fair value is 4.96 MYR, about +130% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PBA Holdings Bhd right now?
The price is below even our cautious bear case (3.47 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. A fairly wide model range (3.47 MYR to 6.45 MYR) leaves room in how you read the outcome.
Key figures of PBA Holdings Bhd
How large is the market capitalisation of PBA Holdings Bhd (5041)?
The market capitalisation of PBA Holdings Bhd is 715M MYR (≈ $175M). 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 PBA Holdings Bhd (5041)?
The price-to-sales ratio of PBA Holdings Bhd is 1.06 (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 PBA Holdings Bhd (5041)?
Earnings per share at PBA Holdings Bhd are 0.4100 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 PBA Holdings Bhd (5041)?
The dividend yield of PBA Holdings Bhd is 2.3% (payout 12.2%). 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 PBA Holdings Bhd (5041)?
The net margin of PBA Holdings Bhd is 20.2% (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 PBA Holdings Bhd (5041)?
The return on equity (ROE) of PBA 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 PBA Holdings Bhd (5041)?
On an EBIT basis the return on assets of PBA Holdings Bhd is 4.1% (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 PBA Holdings Bhd (5041)?
The operating margin of PBA Holdings Bhd is 33.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PBA Holdings Bhd (5041)?
Revenue at PBA Holdings Bhd is growing +17.2% versus a year earlier (3y avg +21.7%). 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 PBA Holdings Bhd (5041)?
Earnings per share at PBA Holdings Bhd are growing +103% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PBA Holdings Bhd (5041) generate?
The free cash flow of PBA Holdings Bhd is −10.1M MYR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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