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Citra Nusa Holdings (5104) Fair Value & Analysis

Industrials · MY · Market cap 28.7M MYR

CN Citra Nusa Holdings 5104 · KLSE
Price0.0400 MYR
Fair Value0.0320 MYR
Upside-20.0%
Quality53/100
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Weak Growth
Thin margins · 0.6% net margin
negative free cash flow
Trails peers (2/8)
Narrow moat 22/100
Evidence: Medium Range 0.0320 MYR – 0.0360 MYR Share as image

Fair value as of: Jul 16, 2026

From 6 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 0.0298 MYR to 0.0320 MYR (+7.6%) since Jun 26, 2026. Share price +14.3% over the past month.

A solid business, but screening 20% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.0360 MYR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (0.0320 MYR to 0.0360 MYR), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

0.2450 MYR 0.0350 MYR Fair Value 0.0320 MYR Sep 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 0.0350 MYR – 0.2450 MYR · fair‑value band 0.0320 MYR – 0.0360 MYR · the 0.0400 MYR price screens above the 0.0320 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Citra Nusa Holdings (5104) currently trades at 0.0400 MYR, while our model-based Fair Value estimate is 0.0320 MYR, implying the stock looks roughly 20.0% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Citra Nusa Holdings generated revenue of 58.2M MYR at a net margin of 0.5%. Revenue declined 18.6% year over year. It earns a return on equity of 0.4%. The stock trades on a trailing P/E of 0.3. Fundamentals as of Jul 16, 2026

Our scenario range runs from 0.0320 MYR (bear case) to 0.0360 MYR (bull case); at 0.0400 MYR, the current price sits above 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 27% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at -20%, 5104 screens richer 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 0.0600 MYR 0.0500 MYR 0.0300 MYR 76
P/E Multiple 0.0200 MYR 0.0300 MYR 0.0300 MYR 63
P/B Multiple 0.0200 MYR 0.0200 MYR 0.0300 MYR 55
All 6 models by family
DCF Models
Owner Earnings 0.0400 MYR 0.0400 MYR 0.0500 MYR 31
Earnings-Based
Graham-Dodd 0.0100 MYR 0.0100 MYR 0.0100 MYR 54
Multiples
P/E Multiple 0.0200 MYR 0.0300 MYR 0.0300 MYR 63
P/B Multiple 0.0200 MYR 0.0200 MYR 0.0300 MYR 55
Asset-Based
NCAV (Graham) 0.0500 MYR 0.0600 MYR 0.0900 MYR 50
Economic Profit
Residual Income 0.0600 MYR 0.0500 MYR 0.0300 MYR 76

Widest divergence: Asset-Based (0.0600 MYR) versus Earnings-Based (0.0100 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 58.3M MYR
Revenue growth (YoY) -18.6%
Net margin 0.6%
Return on equity 0.4%
Free cash flow −461K MYR FY2025
P/E ratio 0.3
More key figures
Operating margin -16.4%
EPS (TTM) 0.1300 MYR

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 52 · Market factors (momentum, volatility) 36

Profitability 36
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 82
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

Citra Nusa Holdings Berhad, an investment holding company, provides provision of management services in Canada, Cambodia, China, Hong Kong, Indonesia, Japan, Malaysia, Singapore, Taiwan, Thailand, the United States, and internationally. It operates through three segments: Marketing and Trading, Manufacturing, and Others.

Full company description

Citra Nusa Holdings Berhad, an investment holding company, provides provision of management services in Canada, Cambodia, China, Hong Kong, Indonesia, Japan, Malaysia, Singapore, Taiwan, Thailand, the United States, and internationally. It operates through three segments: Marketing and Trading, Manufacturing, and Others. The company manufactures, trades in, and packages various foodstuffs, beverages, household, groceries, and personal care products, as well as operates food and beverages outlets. It also sells and distributes health care, consumer products, food ingredients, coffee, and other related beverage products. It serves its customers through a network of branches and sales points, as well as distribution centers. The company was formerly known as CNI Holdings Berhad and changed its name to Citra Nusa Holdings Berhad in May 2021. Citra Nusa Holdings Berhad was incorporated in 1989 and is headquartered in Shah Alam, Malaysia. Citra Nusa Holdings Berhad operates as a subsidiary of Marvellous Heights Sdn Bhd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Citra Nusa Holdings reported revenue of 61.1M MYR in FY2025 versus 74.1M MYR in FY2021, a compound −4.7%/yr. Reported net income was 899K MYR in FY2025, compounding +8.2%/yr from FY2021.

Growth Quality 20/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
61.1M MYR
Latest YoY
+5.3%
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.
−7.5%
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.
−2.0%
Avg. growth/yr (13Y) 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 −4.7%/yr
FY21 74.1M MYR
FY22 77.1M MYR
FY23 62.0M MYR
FY24 58.0M MYR
FY25 61.1M MYR
Net income +8.2%/yr
FY21 657K MYR
FY22 −1.8M MYR
FY23 −1.5M MYR
FY24 −2.0M MYR
FY25 899K MYR

5104 screens 20% overvalued. Compare with CITIC Limited →

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Cite: Fair Value Calculator (2026). "Citra Nusa Holdings Fair Value". https://www.fairvalue-calculator.com/stock/5104

Peer Group

Conglomerates · 369 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 53 · Above median
Fair Value upside −25% · Below median
Return on equity (TTM) 0% · Below median
Return on assets -1% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) -16% · Bottom 25%
Revenue growth -19% · Bottom 25%

Valuation Multiples vs Conglomerates median · lower = cheaper

P/E (TTM) 0.3× · 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 0 · sector 20
FUTURE 0 · sector 16
PAST 2 · sector 20
HEALTH 0 · sector 88
DIVIDEND 0 · sector 39

VALUE 0: the price sits above our fair-value range.

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.

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10 more Conglomerates stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

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Empresas Copec S.A COPEC 6,330 CLP 10,879 CLP +72%
Posco International Corporation 047050 50,900 KRW 61,248 KRW +20%
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Frequently asked questions

Is Citra Nusa Holdings (5104) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 0.0320 MYR versus a price of 0.0400 MYR, about −20% (overvalued).
What is the fair value of 5104?
Our model-based fair value for Citra Nusa Holdings is 0.0320 MYR (as of Jul 16, 2026), built from audited fundamentals. The current price is 0.0400 MYR.
What is the quality score of 5104?
Citra Nusa Holdings has a Quality Score of 53/100. 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 Citra Nusa Holdings (5104)?
Citra Nusa Holdings reported trailing-twelve-month revenue of about 58.2M MYR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of 5104?
The net profit margin of Citra Nusa Holdings is about 0.5%, meaning it keeps roughly 0.5% 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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