Sentral REIT (5123) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Sentral REIT MYR 0.77, price MYR 0.65, upside +18.5%, quality 57 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 0.6408 MYR – 0.8323 MYR · fair‑value band 0.6300 MYR – 0.8800 MYR · the 0.6500 MYR price screens below the 0.7700 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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Sentral REIT is a commercial Real Estate Investment Trust (REIT), established through the restated trust deed dated and the supplemental deed dated 24 December 2020.
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Sentral REIT is a commercial Real Estate Investment Trust (REIT), established through the restated trust deed dated and the supplemental deed dated 24 December 2020. Managed by Sentral REIT Management Sdn Bhd (SRM), the main thrust of Sentral REIT's activities includes acquiring and investing in commercial properties in Malaysia to provide unitholders with long-term and sustainable distribution of income and to achieve long-term growth in the net asset value per Unit. As at 31 March 2026, Sentral REIT owns 10 buildings comprising four in Cyberjaya, four in Kuala Lumpur, one in Petaling Jaya and one in Penang, valued at RM2.4 billion. Sentral REIT was incorporated in 2006 in Malaysia.
Stock analysis
Sentral REIT (5123) currently trades at 0.6500 MYR, while our model-based Fair Value estimate is 0.7700 MYR, implying the stock looks roughly 15.6% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 1.09 MYR per share, and 8 of the 14 models we run sit above the 0.6500 MYR price.
Bear case: the Multiples group reads lowest at 0.3700 MYR, and 6 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.6300 MYR (bear) to 0.8800 MYR (bull), the price of 0.6500 MYR sits inside 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 57/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Sentral REIT reported revenue of 191M MYR in FY2025 versus 160M MYR in FY2021, a compound +4.6%/yr. Reported net income was 58.6M MYR in FY2025, compounding −4.4%/yr from FY2021.
Key figures
Market cap 777M MYR (≈ $191M) · P/E ratio 13.0 · P/S ratio 4.00 · EPS (TTM) 0.0500 MYR · Dividend yield 9.5% · Net margin 30.7% · Return on equity 4.3% · Return on assets (EBIT) 2.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 16% 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 2% fair-value upside, at 18%, 5123 screens cheaper than that median.
Fair Value models
Bear 0.6300 MYRFair Value 0.7700 MYRBull 0.8800 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.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.63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.1%
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.
+9.0%
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.
+3.1%
Start year 2020 (pandemic). Over 10 years: +5.2% a year
Revenue growth 14 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.
+7.3%
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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.
+3.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.6%
Dividend (yield on the price)9.5%
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.−6% vs −2%, slowing
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.45% → 30%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +5.5% a year for the price and +1.6% for the forecasts.
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.REIT - Office · 68 stocks
Beats the industry median on 15/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+18% · Above median
Profitability
Return on equity (TTM)4% · Above median
Return on assets3% · Top 25%
Net margin (TTM)30% · Above median
Operating margin (TTM)65% · Top 25%
Growth and dividend
Revenue growth5% · Above median
Dividend yield (TTM)9.5% · Top 25%
Balance sheet
Debt / equity0.61× · Below median
Valuation Multiplesvs REIT - Office median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Sentral REIT Fair Value". https://www.fairvalue-calculator.com/stock/5123
Frequently asked questions
Is Sentral REIT (5123) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.7700 MYR versus a price of 0.6500 MYR, about +18% upside (undervalued).
What is the fair value of 5123?
Our model-based fair value for Sentral REIT is 0.7700 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.6500 MYR.
What is the quality score of 5123?
Sentral REIT has a Quality Score of 57/100. 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 Sentral REIT (5123)?
Our model-based price target is the fair value of 0.7700 MYR (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 0.6300 MYR, optimistic scenario 0.8800 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Sentral REIT stock forecast for 2026?
Our models put fair value at 0.7700 MYR, about +18% upside versus a price of 0.6500 MYR (undervalued). Cautious scenario 0.6300 MYR, optimistic scenario 0.8800 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Sentral REIT (5123)?
Sentral REIT reported trailing-twelve-month revenue of about 196M MYR (latest available figure, as of Sep 24, 2026).
Does Sentral REIT pay a dividend?
Sentral REIT currently shows a dividend yield of about 9.54% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Sentral REIT (5123)?
For today's price to be fair in a discounted-cash-flow model, Sentral REIT would have to grow free cash flow by +7.6 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5123 use?
Our models discount Sentral REIT at 12.6 %: a base by market capitalisation (micro), damped by beta 0.16, country premium for Malaysia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Sentral REIT that is +7.6 % per year a year over ten years, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has Sentral REIT (5123) delivered so far?
Over the past 5 years revenue at Sentral REIT grew +3.1 % a year. The price currently implies +7.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Sentral REIT (5123) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Sentral REIT (+7.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sentral REIT (5123)?
The free-cash-flow yield on the price is 19.04 %: that much free cash flow Sentral REIT produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sentral REIT (5123)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sentral REIT it is 0.7700 MYR per share (as of Sep 24, 2026), against a price of 0.6500 MYR. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Sentral REIT stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5123 trades below its calculated fair value: price 0.6500 MYR, fair value 0.7700 MYR, a gap of about +18% (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 5123?
No. The price is what the market pays today (0.6500 MYR); the fair value is what the company's own numbers justify (0.7700 MYR). For Sentral REIT the two are 0.1200 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Sentral REIT worth?
The market values Sentral REIT at about 777M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 0.6500 MYR; our models calculate a fair value of 0.7700 MYR per share.
What do the bullish and bearish scenarios say about 5123?
Our models span a range for Sentral REIT: cautious scenario 0.6300 MYR, base 0.7700 MYR, optimistic 0.8800 MYR per share (as of Sep 24, 2026, price 0.6500 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5123?
Sentral REIT trades at a price-to-earnings ratio of 13.0 (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 0.7700 MYR is built from several models across several years. Other multiples: PEG 1.3, P/B 0.1, P/S 1.0, EV/EBITDA 7.7.
What is the PEG ratio of 5123?
The PEG ratio of Sentral REIT is 1.30 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Sentral REIT (5123)?
Balance-sheet figures for Sentral REIT (as of Sep 24, 2026): return on equity 4.3%, debt of 0.61 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 5123 from its 52-week high?
Sentral REIT trades at 0.6500 MYR, about 16% below its 52-week high of 0.7700 MYR and at the low of 0.6500 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.7700 MYR is for.
Which stocks are comparable to Sentral REIT?
From the same area (Real Estate) we also value BXP, Inc, MERLIN Properties SOCIMI, S.A, Vornado Realty Trust, Alexandria Real Estate Equities, Inc, 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 Sentral REIT stock attractive at the current price?
The data as of Sep 24, 2026: price 0.6500 MYR, calculated fair value 0.7700 MYR (+18%), Quality Score 57/100, from 15 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 5123 calculated?
We run Sentral REIT through 15 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 0.7700 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 13.0 % above its aggregate fair value. Sentral REIT currently trades 18 % 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 Sentral REIT (5123)?
The closing price on Sep 24, 2026 was 0.6500 MYR. Our model-based fair value is 0.7700 MYR, about +18% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sentral REIT right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Sentral REIT
How large is the market capitalisation of Sentral REIT (5123)?
The market capitalisation of Sentral REIT is 777M MYR (≈ $191M). 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 Sentral REIT (5123)?
The price-to-sales ratio of Sentral REIT is 4.00 (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 Sentral REIT (5123)?
Earnings per share at Sentral REIT are 0.0500 MYR (price ÷ EPS = P/E 13.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sentral REIT (5123)?
The dividend yield of Sentral REIT is 9.5% (payout 124%). 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 Sentral REIT (5123)?
The net margin of Sentral REIT is 30.7% (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 Sentral REIT (5123)?
The return on equity (ROE) of Sentral REIT is 4.3% (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 Sentral REIT (5123)?
On an EBIT basis the return on assets of Sentral REIT is 2.7% (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 Sentral REIT (5123)?
The operating margin of Sentral REIT is 65.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sentral REIT (5123)?
Revenue at Sentral REIT is growing +5.2% versus a year earlier (3y avg +9.0%). 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 Sentral REIT (5123)?
Earnings per share at Sentral REIT are growing +1.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Sentral REIT (5123) carry?
The net debt of Sentral REIT is 1.2B MYR (fiscal year 2025, ≈ 8.2 yrs of FCF). 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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