TAS Offshore Bhd (5149) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of TAS Offshore Bhd MYR 1.90, price MYR 0.42, upside +352.4%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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TAS Offshore Berhad, together with its subsidiaries, engages in the ship building and repairing businesses in Malaysia, Indonesia, and Singapore.
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TAS Offshore Berhad, together with its subsidiaries, engages in the ship building and repairing businesses in Malaysia, Indonesia, and Singapore. The company offers hull and superstructure construction; propulsion and power system installation; machinery and equipment installation; communication, navigation, and surveillance systems installation; interior fit-out; painting; and vessel testing and commissioning. It also constructs a range of vessels, such as anchor handling tug supply, anchor handling tugs, utility/supply vessels, offshore supply vessels, tugboats, pusher tugs, landing crafts, cargoes, barges, garbage collection and flotsam retrieval crafts, ferries, and workboats. In addition, the company provides slipway and afloat ship repair services; routine marine engine, machinery, and equipment inspection and maintenance; routine piping and wiring inspection and maintenance; repairing damage from collisions and other accidents; equipment installation; and repainting services. Further, it offers vessel chartering services. TAS Offshore Berhad was founded in 1977 and is headquartered in Sibu, Malaysia.
Stock analysis
TAS Offshore Bhd (5149) currently trades at 0.4200 MYR, while our model-based Fair Value estimate is 1.90 MYR, implying the stock looks roughly 77.9% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 4.50 MYR per share, and 24 of the 26 models we run sit above the 0.4200 MYR price.
Bear case: the Asset-Based group reads lowest at 0.4300 MYR, and 2 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.8100 MYR (bear) to 2.36 MYR (bull), the price of 0.4200 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 59/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
TAS Offshore Bhd reported revenue of 145M MYR in FY2025 versus 34.9M MYR in FY2021, a compound +42.8%/yr. Reported net income was 17.6M MYR in FY2025, compounding +74.7%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 82.2M MYR (≈ $20.1M) · P/E ratio 3.5 · P/S ratio 0.42 · EPS (TTM) 0.1200 MYR · Dividend yield 9.5% · Net margin 12.1% · Return on equity 17.3% · Return on assets (EBIT) 6.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −24% fair-value upside, at 352%, 5149 screens cheaper than that median.
Fair Value models
Bear 0.8100 MYRFair Value 1.90 MYRBull 2.36 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 12 months old). Earnings retained since then (0.0800 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+100.5%
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.
+36.2%
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.
+55.1%
Start year 2020 (pandemic). Over 10 years: −6.2% a year
Revenue growth 16 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.
+6.3%
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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.
+52.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+43.2%
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.43.2% vs −1.5%, 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.−459% → 16%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 11.7%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−12.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about −14.5% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Aerospace & Defense” was too small, so the broader sector is used.)Industrials · 5298 stocks
Beats the sector median on 14/14 measures
Overall it ranks above its sector peers.
Valuation
Quality Score59 · Above median
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (TTM)17.3% · Top 25%
Return on assets7.4% · Top 25%
Net margin (TTM)13.8% · Top 25%
Operating margin (TTM)9.6% · Above median
Growth and dividend
Revenue growth22.7% · Top 25%
Dividend yield (TTM)9.5% · Top 25%
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Industrials median · lower = cheaper
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Cite: Fair Value Calculator (2026). "TAS Offshore Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5149
Frequently asked questions
Is TAS Offshore Bhd (5149) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1.90 MYR versus a price of 0.4200 MYR, about +352% upside (undervalued).
What is the fair value of 5149?
Our model-based fair value for TAS Offshore Bhd is 1.90 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.4200 MYR.
What is the quality score of 5149?
TAS Offshore Bhd has a Quality Score of 59/100. 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 TAS Offshore Bhd (5149)?
Our model-based price target is the fair value of 1.90 MYR (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 0.8100 MYR, optimistic scenario 2.36 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the TAS Offshore Bhd stock forecast for 2026?
Our models put fair value at 1.90 MYR, about +352% upside versus a price of 0.4200 MYR (undervalued). Cautious scenario 0.8100 MYR, optimistic scenario 2.36 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of TAS Offshore Bhd (5149)?
TAS Offshore Bhd reported trailing-twelve-month revenue of about 155M MYR (latest available figure, as of Sep 24, 2026).
Does TAS Offshore Bhd pay a dividend?
TAS Offshore Bhd currently shows a dividend yield of about 9.52% relative to its recent price (as of Sep 24, 2026).
What growth is priced into TAS Offshore Bhd (5149)?
For today's price to be fair in a discounted-cash-flow model, TAS Offshore Bhd would have to grow free cash flow by -12.8 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +55.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5149 use?
Our models discount TAS Offshore Bhd at 9.7 %: a base by market capitalisation (nano), damped by beta 0.21, 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 TAS Offshore Bhd that is -12.8 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has TAS Offshore Bhd (5149) delivered so far?
Over the past 5 years revenue at TAS Offshore Bhd grew +55.1 % a year. The price currently implies -12.8 % 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 TAS Offshore Bhd (5149) growing?
The median revenue growth in the sector is +7.2 % a year. That is the yardstick for the growth priced into TAS Offshore Bhd (-12.8 % 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 TAS Offshore Bhd (5149)?
The free-cash-flow yield on the price is 15.81 %: that much free cash flow TAS Offshore Bhd produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TAS Offshore Bhd (5149)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TAS Offshore Bhd it is 1.90 MYR per share (as of Sep 24, 2026), against a price of 0.4200 MYR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is TAS Offshore Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5149 trades below its calculated fair value: price 0.4200 MYR, fair value 1.90 MYR, a gap of about +352% (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 5149?
No. The price is what the market pays today (0.4200 MYR); the fair value is what the company's own numbers justify (1.90 MYR). For TAS Offshore Bhd the two are 1.48 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is TAS Offshore Bhd worth?
The market values TAS Offshore Bhd at about 82.2M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 0.4200 MYR; our models calculate a fair value of 1.90 MYR per share.
What do the bullish and bearish scenarios say about 5149?
Our models span a range for TAS Offshore Bhd: cautious scenario 0.8100 MYR, base 1.90 MYR, optimistic 2.36 MYR per share (as of Sep 24, 2026, price 0.4200 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5149?
TAS Offshore Bhd trades at a price-to-earnings ratio of 3.5 (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 1.90 MYR is built from several models across several years. Other multiples: P/B 0.7, P/S 0.5, EV/EBITDA 2.8.
How solid is the balance sheet of TAS Offshore Bhd (5149)?
Balance-sheet figures for TAS Offshore Bhd (as of Sep 24, 2026): return on equity 17.3%, debt of 0.05 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 5149 from its 52-week high?
TAS Offshore Bhd trades at 0.4200 MYR, about 32% below its 52-week high of 0.6143 MYR and at the low of 0.4200 MYR (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 1.90 MYR is for.
Which stocks are comparable to TAS Offshore Bhd?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin Corporation, 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 TAS Offshore Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 0.4200 MYR, calculated fair value 1.90 MYR (+352%), Quality Score 59/100, from 26 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 5149 calculated?
We run TAS Offshore Bhd through 26 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 1.90 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 14.5 % above its aggregate fair value. TAS Offshore Bhd currently trades 78 % 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 TAS Offshore Bhd (5149)?
The closing price on Oct 1, 2026 was 0.4200 MYR. Our model-based fair value is 1.90 MYR, about +352% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TAS Offshore Bhd right now?
The price is below even our cautious bear case (0.8100 MYR). The market is more pessimistic than our downside scenario. The model range is unusually wide (0.8100 MYR to 2.36 MYR). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of TAS Offshore Bhd (5149) come from?
Earnings per share at TAS Offshore Bhd grew −3.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share −11.3 %, EBIT margin +9.3 %, tax rate −0.9 %, residual (interest, one-offs) +0.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of TAS Offshore Bhd
How large is the market capitalisation of TAS Offshore Bhd (5149)?
The market capitalisation of TAS Offshore Bhd is 82.2M MYR (≈ $20.1M). 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 TAS Offshore Bhd (5149)?
The price-to-sales ratio of TAS Offshore Bhd is 0.42 (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 TAS Offshore Bhd (5149)?
Earnings per share at TAS Offshore Bhd are 0.1200 MYR (price ÷ EPS = P/E 3.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TAS Offshore Bhd (5149)?
The dividend yield of TAS Offshore Bhd is 9.5% (payout 33.3%). 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 TAS Offshore Bhd (5149)?
The net margin of TAS Offshore Bhd is 12.1% (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 TAS Offshore Bhd (5149)?
The return on equity (ROE) of TAS Offshore Bhd is 17.3% (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 TAS Offshore Bhd (5149)?
On an EBIT basis the return on assets of TAS Offshore Bhd is 6.4% (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 TAS Offshore Bhd (5149)?
The operating margin of TAS Offshore Bhd is 9.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TAS Offshore Bhd (5149)?
Revenue at TAS Offshore Bhd is growing +22.7% versus a year earlier (3y avg +36.2%). 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 TAS Offshore Bhd (5149)?
Earnings per share at TAS Offshore Bhd are growing +14.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does TAS Offshore Bhd (5149) hold?
TAS Offshore Bhd holds more cash than debt, 4.5M MYR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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