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Apex Equity Holdings (5088) Fair Value & Analysis

Financial Services · MY · Market cap 138M MYR

AE Apex Equity Holdings 5088 · KLSE
Price0.6550 MYR
Fair Value1.29 MYR
Upside+97.0%
Quality56/100
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Mixed Growth
Highly profitable · 67.2% net margin
negative free cash flow
Ranks above peers (7/9)
Wide moat 68/100
Evidence: High Range 0.9680 MYR – 1.62 MYR Share as image

Fair value as of: Jul 13, 2026

From 9 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from 1.44 MYR to 1.29 MYR (−10.4%) since Jun 26, 2026. Share price +1.6% over the past month.

A solid business, screening 97% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.9680 MYR). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

1.35 MYR 0.5904 MYR Fair Value 1.29 MYR Jul 2019 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range 0.5904 MYR – 1.35 MYR · fair‑value band 0.9680 MYR – 1.62 MYR · the 0.6550 MYR price screens below the 1.29 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Apex Equity Holdings (5088) currently trades at 0.6550 MYR, while our model-based Fair Value estimate is 1.29 MYR, implying the stock looks roughly 97.0% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Financial Services 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, Apex Equity Holdings generated revenue of 52.1M MYR at a net margin of 67.2%. Revenue grew 4.4% year over year. Net debt stands at 19.1M MYR. The stock trades on a trailing P/E of 3.2. Fundamentals as of Jul 13, 2026

Our scenario range runs from 0.9680 MYR (bear case) to 1.62 MYR (bull case); at 0.6550 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 30% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at 97%, 5088 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 1.57 MYR 1.78 MYR 3.13 MYR 76
Gordon GGM 0.0700 MYR 0.1100 MYR 0.1400 MYR 70
P/E Multiple 2.40 MYR 3.20 MYR 4.00 MYR 63
All 9 models by family
DCF Models
Owner Earnings 2.71 MYR 4.70 MYR 7.90 MYR 31
Earnings-Based
Graham-Dodd 1.67 MYR 9.97 MYR 13.89 MYR 54
Lynch FV 2.84 MYR 4.05 MYR 5.27 MYR 50
Dividend Discount
Gordon GGM 0.0700 MYR 0.1100 MYR 0.1400 MYR 70
DDM Multi-Stage 0.0700 MYR 0.1000 MYR 0.1200 MYR 61
Multiples
P/E Multiple 2.40 MYR 3.20 MYR 4.00 MYR 63
P/B Multiple 1.92 MYR 2.56 MYR 3.21 MYR 55
Asset-Based
NCAV (Graham) 0.9200 MYR 1.23 MYR 1.83 MYR 50
Economic Profit
Residual Income 1.57 MYR 1.78 MYR 3.13 MYR 76

Widest divergence: DCF Models (4.70 MYR) versus Dividend Discount (0.1000 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 52.1M MYR
Revenue growth (YoY) +4.4%
Net margin 67.2%
Return on equity 1,329%
Free cash flow −116M MYR FY2024
P/E ratio 2.8
More key figures
Operating margin 13.6%
EPS (TTM) 0.2300 MYR
EPS growth (YoY) +7.0%
Net debt 19.1M MYR FY2024

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 51 · Market factors (momentum, volatility) 31

Profitability 50
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 46
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

Apex Equity Holdings Berhad, an investment holding company, engages in stock and securities broking in Malaysia and internationally. The company operates through four segments: Investment Holdings and Others, Stock and Futures Broking, Property Holdings, and Money Lending.

Full company description

Apex Equity Holdings Berhad, an investment holding company, engages in stock and securities broking in Malaysia and internationally. The company operates through four segments: Investment Holdings and Others, Stock and Futures Broking, Property Holdings, and Money Lending. It is involved in dealing with securities, clearing, derivatives, and investment advisory; operates Apexetrade, an online trading platform; the provision of stockbroking-related services, such as share trading of Bursa, LEAP market, foreign markets and derivatives/futures; nominee and custodian share services; share margin financing; underwriting and placement of securities; and electronic trading services. The company also engages in property investments and holdings; and offers credit and financing solutions. It serves retail, corporate, and institutional investors. The company was incorporated in 1990 and is based in Petaling Jaya, Malaysia.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Apex Equity Holdings reported revenue of 82.4M MYR in FY2024 versus 57.2M MYR in FY2020, a compound +9.6%/yr. Reported net income was 52.5M MYR in FY2024, compounding +32.2%/yr from FY2020.

Growth Quality 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
82.4M MYR
Latest YoY
+89.6%
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.
−2.3%
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.
+19.4%
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.
+4.8%
Revenue +9.6%/yr
FY20 57.2M MYR
FY21 88.4M MYR
FY22 35.9M MYR
FY23 43.5M MYR
FY24 82.4M MYR
Net income +32.2%/yr
FY20 17.2M MYR
FY21 21.5M MYR
FY22 6.4M MYR
FY23 7.3M MYR
FY24 52.5M MYR

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Cite: Fair Value Calculator (2026). "Apex Equity Holdings Fair Value". https://www.fairvalue-calculator.com/stock/5088

Peer Group

Capital Markets · 424 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 55 · Above median
Fair Value upside +97% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 67% · Top 25%
Operating margin (TTM) 14% · Below median
Revenue growth 4% · Below median

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 2.8× · Cheaper than 75% of peers
P/B 0.09× · Cheaper than 75% of peers
P/S (TTM) 0.65× · 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 9
FUTURE 22 · sector 94
PAST 0 · sector 31
HEALTH 0 · sector 93
DIVIDEND 0 · sector 36

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 Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Huatai Securities Co HTSC $0.2700 $0.0400 -85%
Mirae Asset Securities Co 006800 38,750 KRW 31,645 KRW -18%
Meritz Financial Group 138040 117,000 KRW 87,706 KRW -25%
Korea Investment Holdings 071050 239,000 KRW 318,825 KRW +33%
NH Investment & Securities Co 005940 31,000 KRW 37,133 KRW +20%
Samsung Securities Co 016360 107,700 KRW 126,487 KRW +17%
Motilal Oswal Financial Services Limited MOTILALOFS ₹967.00 ₹299.65 -69%
Kiwoom Securities Co 039490 322,000 KRW 358,091 KRW +11%
SSI Securities Corporation SSI 24,250 VND 28,021 VND +16%
Bolsas y Mercados Argentinos S.A BYMA 313.75 ARS 120.22 ARS -62%

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Frequently asked questions

Is Apex Equity Holdings (5088) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 1.29 MYR versus a price of 0.6550 MYR, about +97% (undervalued).
What is the fair value of 5088?
Our model-based fair value for Apex Equity Holdings is 1.29 MYR (as of Jul 13, 2026), built from audited fundamentals. The current price is 0.6550 MYR.
What is the quality score of 5088?
Apex Equity Holdings has a Quality Score of 56/100. 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 Apex Equity Holdings (5088)?
Apex Equity Holdings reported trailing-twelve-month revenue of about 52.1M MYR (latest available figure, as of Jul 13, 2026).
What is the net profit margin of 5088?
The net profit margin of Apex Equity Holdings is about 67.2%, meaning it keeps roughly 67.2% 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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