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5120 Fair Value & Analysis

Real Estate · MY · Market cap 223M MYR

5 5120 5120 · KLSE
Price0.3500 MYR
Fair Value0.7500 MYR
Upside+114.3%
Quality66/100
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Weak Growth
Highly profitable · 27.5% net margin
Moderate debt · generates free cash flow
8.92% dividend yield
Ranks above peers (10/14)
Moderate moat 64/100
Evidence: High Range 0.5600 MYR – 0.7500 MYR Share as image

Fair value as of: Jul 16, 2026

From 14 valuation models · updated 25 days ago

Share price +6.1% over the past month.

A solid business, screening 114% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.5600 MYR). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) 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.
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Price vs Fair Value (5 years)

0.3500 MYR 0.2397 MYR Fair Value 0.7500 MYR Mar 2021 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 0.2397 MYR – 0.3500 MYR · fair‑value band 0.5600 MYR – 0.7500 MYR · the 0.3500 MYR price screens below the 0.7500 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

5120 (5120) currently trades at 0.3500 MYR, while our model-based Fair Value estimate is 0.7500 MYR, implying the stock looks roughly 114.3% undervalued today. The Quality Score stands at 66/100 (solid 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: high), always confirm before acting.

Over the trailing twelve months, 5120 generated revenue of 110M MYR at a net margin of 27.5%. Revenue grew 11.5% year over year. It earns a return on equity of 3.7%. Net debt stands at 766M MYR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 0.5600 MYR (bear case) to 0.7500 MYR (bull case); at 0.3500 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 near its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -22% fair-value upside, at 114%, 5120 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
Growth DCF 0.1500 MYR 80
Residual Income 0.8100 MYR 0.7600 MYR 0.5800 MYR 76
Rev-Margin DCF 0.1700 MYR 0.5200 MYR 74
All 14 models by family
DCF Models
FCF DCF 0.1800 MYR 38
5Y Revenue Exit 0.1500 MYR 0.5400 MYR 39
5Y EBITDA Exit 0.3400 MYR 0.8000 MYR 41
10Y Revenue Exit 0.0400 MYR 0.2600 MYR 36
10Y EBITDA Exit 0.1400 MYR 0.4000 MYR 37
Multiples
P/S Multiple 0.5600 MYR 0.7500 MYR 0.9400 MYR 58
P/B Multiple 0.5600 MYR 0.7500 MYR 0.9400 MYR 55
EV/EBIT 0.5900 MYR 1.02 MYR 1.46 MYR 53
EV/EBITDA 0.2900 MYR 0.6300 MYR 0.9700 MYR 54
EV/Revenue 0.3100 MYR 0.6200 MYR 43
Asset-Based
NCAV (Graham) 0.6100 MYR 0.8200 MYR 1.22 MYR 50
Growth DCF
Growth DCF 0.1500 MYR 80
Rev-Margin DCF 0.1700 MYR 0.5200 MYR 74
Economic Profit
Residual Income 0.8100 MYR 0.7600 MYR 0.5800 MYR 76

Widest divergence: Asset-Based (0.8200 MYR) versus DCF Models (0.1400 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 110M MYR
Revenue growth (YoY) +11.5%
Net margin 27.5%
Return on equity 3.7%
Free cash flow 51.3M MYR FY2026
P/E ratio 8.1
More key figures
Operating margin 51.2%
EPS (TTM) 0.0400 MYR
Dividend yield 8.9%
EPS growth (YoY) +18.7%
Net debt 766M MYR FY2026

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

Quality Score breakdown

Overall quality 66/100

Of which business quality 63 · Market factors (momentum, volatility) 75

Profitability 32
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 95
Earnings quality: real cash, not paper profit
Fin. Strength 42
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 82
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

AmFIRST Real Estate Investment Trust currently owns eight (8) properties valued at RM1.57 billion. These include Bangunan AmBank Group, Menara AmBank, Wisma AmFIRST, The Summit Subang USJ, Prima 9, Prima 10, Jaya 99 and Mydin Hypermall, Bukit Mertajam. The Trust focuses on investing in incomeproducing real estate which are primarily for commercial use.

Full company description

AmFIRST Real Estate Investment Trust currently owns eight (8) properties valued at RM1.57 billion. These include Bangunan AmBank Group, Menara AmBank, Wisma AmFIRST, The Summit Subang USJ, Prima 9, Prima 10, Jaya 99 and Mydin Hypermall, Bukit Mertajam. The Trust focuses on investing in incomeproducing real estate which are primarily for commercial use. AmFIRST REIT is managed by AmREIT Managers Sdn Bhd.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

5120 reported revenue of 110M MYR in FY2026 versus 99.6M MYR in FY2022, a compound +2.6%/yr. Reported net income was 30.4M MYR in FY2026, compounding +54.4%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
110M MYR
Latest YoY
+5.2%
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.
+2.2%
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.
+0.5%
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.
+0.0%
Revenue +2.6%/yr
FY22 99.6M MYR
FY23 103M MYR
FY24 101M MYR
FY25 105M MYR
FY26 110M MYR
Net income +54.4%/yr
FY22 5.3M MYR
FY23 14.2M MYR
FY24 25.6M MYR
FY25 24.6M MYR
FY26 30.4M MYR

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Cite: Fair Value Calculator (2026). "5120 Fair Value". https://www.fairvalue-calculator.com/stock/5120

Peer Group

REIT - Diversified · 165 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 68 · Top 25%
Fair Value upside +114% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 28% · Below median
Operating margin (TTM) 51% · Above median
Revenue growth 12% · Top 25%
Dividend yield (TTM) 8.9% · Top 25%
Debt / equity 0.60× · Higher than median

Valuation Multiples vs REIT - Diversified median · lower = cheaper

P/E (TTM) 8.1× · Cheaper than 75% of peers
P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.50× · Cheaper than 75% of peers
P/FCF 1.1× · Cheaper than median
EV/EBITDA 12.1× · Cheaper than median

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 13
FUTURE 58 · sector 13
PAST 15 · sector 20
HEALTH 70 · sector 72
DIVIDEND 100 · sector 97

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 REIT - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Goodman Group GMG A$29.11 A$7.37 -75%
VICI Properties Inc VICI $26.73 $41.74 +56%
W. P. Carey Inc WPC $76.69 $35.59 -54%
Charter Hall Group CHC A$21.90 A$11.46 -48%
Fibra Uno FUNO11 31.10 MXN 63.56 MXN +104%
COV COV €52.55 €62.39 +19%
The GPT Group GPT A$4.89 A$3.49 -29%
Mirvac Group MGR A$1.70 A$0.5700 -66%
KLCC Property Holdings 5235SS 8.85 MYR 6.91 MYR -22%
CRRUN CRRUN C$17.65 C$17.89 +1%

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Frequently asked questions

Is 5120 overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 0.7500 MYR versus a price of 0.3500 MYR, about +114% (undervalued).
What is the fair value of 5120?
Our model-based fair value for 5120 is 0.7500 MYR (as of Jul 16, 2026), built from audited fundamentals. The current price is 0.3500 MYR.
What is the quality score of 5120?
5120 has a Quality Score of 66/100. 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 5120?
5120 reported trailing-twelve-month revenue of about 110M MYR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of 5120?
The net profit margin of 5120 is about 27.5%, meaning it keeps roughly 27.5% of revenue as net income. Based on the latest reported figures.
Does 5120 pay a dividend?
5120 currently shows a dividend yield of about 8.66% relative to its recent price (as of Jul 16, 2026).

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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