Benalec Holdings Bhd (5190) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Benalec Holdings Bhd MYR 0.07, price MYR 0.07, upside +5.1%, quality 54 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 0.0650 MYR – 0.1700 MYR · fair‑value band 0.0553 MYR – 0.0748 MYR · the 0.0650 MYR price screens below the 0.0683 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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Benalec Holdings Berhad, an investment holding company, engages in marine construction and civil engineering services in Malaysia. The company operates through three segments: Marine Construction, Vessel Chartering and Marine Transportation, and Other.
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Benalec Holdings Berhad, an investment holding company, engages in marine construction and civil engineering services in Malaysia. The company operates through three segments: Marine Construction, Vessel Chartering and Marine Transportation, and Other. It offers marine construction services, including land reclamation, dredging, and beach nourishment; rock revetment, soil consolidation, shore protection, and breakwater construction works; pre-bore and marine piling; and construction of marine structures, bridges, jetties, ports, and other offshore and ancillary services, as well as sells marine construction materials. The company also provides marine transportation and engineering, and voyage charter services. In addition, the company engages in shipbuilding activities; and the provision of ship repair, maintenance, fabrication, and refurbishment services. Further, it involved in the property investment holding activities; trading of vessels; and installation of geo-technical prefabricated vertical drains, as well as acts as an agent for clearance of vessels with port authorities. The company was founded in 1978 and is headquartered in Shah Alam, Malaysia.
Stock analysis
Benalec Holdings Bhd (5190) currently trades at 0.0650 MYR, while our model-based Fair Value estimate is 0.0683 MYR, implying the stock looks roughly 4.8% fairly valued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 0.2500 MYR per share, and 16 of the 22 models we run sit above the 0.0650 MYR price.
Bear case: the Earnings-Based group reads lowest at 0.0300 MYR, and 6 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.0553 MYR (bear) to 0.0748 MYR (bull), the price of 0.0650 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 54/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Benalec Holdings Bhd reported revenue of 61.5M MYR in FY2026 versus 69.9M MYR in FY2022, a compound −3.2%/yr. Reported net income was 3.3M MYR in FY2026.
Key figures
Market cap 66.2M MYR (≈ $16.2M) · P/S ratio 1.26 · Net margin 5.3% · Return on equity −0.1% · Return on assets (EBIT) −2.8% · Operating margin 4.9% · Revenue (TTM) 56.7M MYR · Revenue growth (YoY) −32.7%.
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 38% 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 −31% fair-value upside, at 5%, 5190 screens cheaper than that median.
Fair Value models
Bear 0.0553 MYRFair Value 0.0683 MYRBull 0.0748 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.38/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−32.7%
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.
−7.1%
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.
−17.5%
Start year 2021 (pandemic). Over 10 years: −15.3% 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.
−10.5%
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Profit margin (trend) ⓘ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.
−28.6% (2021) → 13.0% (2026)
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
−4.2%
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 −6.0% 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 industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 840 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside+5% · Above median
Profitability
Return on assets1% · Below median
Net margin (TTM)1% · Below median
Operating margin (TTM)5% · Above median
Growth and dividend
Revenue growth−33% · Bottom 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Benalec Holdings Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5190
Frequently asked questions
Is Benalec Holdings Bhd (5190) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.0683 MYR versus a price of 0.0650 MYR, about +5% upside (fairly valued).
What is the fair value of 5190?
Our model-based fair value for Benalec Holdings Bhd is 0.0683 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.0650 MYR.
What is the quality score of 5190?
Benalec Holdings Bhd has a Quality Score of 54/100. 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 Benalec Holdings Bhd (5190)?
Our model-based price target is the fair value of 0.0683 MYR (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 0.0553 MYR, optimistic scenario 0.0748 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Benalec Holdings Bhd stock forecast for 2026?
Our models put fair value at 0.0683 MYR, about +5% upside versus a price of 0.0650 MYR (fairly valued). Cautious scenario 0.0553 MYR, optimistic scenario 0.0748 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Benalec Holdings Bhd (5190)?
Benalec Holdings Bhd reported trailing-twelve-month revenue of about 56.7M MYR (latest available figure, as of Sep 24, 2026).
What growth is priced into Benalec Holdings Bhd (5190)?
For today's price to be fair in a discounted-cash-flow model, Benalec Holdings Bhd would have to grow free cash flow by -4.2 % 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 -17.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5190 use?
Our models discount Benalec Holdings Bhd at 9.7 %: a base by market capitalisation (nano), damped by beta 0.45, 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 Benalec Holdings Bhd that is -4.2 % 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 Benalec Holdings Bhd (5190) delivered so far?
Over the past 5 years revenue at Benalec Holdings Bhd grew -17.5 % a year. The price currently implies -4.2 % 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 Benalec Holdings Bhd (5190) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Benalec Holdings Bhd (-4.2 % 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 Benalec Holdings Bhd (5190)?
The free-cash-flow yield on the price is 10.94 %: that much free cash flow Benalec Holdings 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 Benalec Holdings Bhd (5190)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Benalec Holdings Bhd it is 0.0683 MYR per share (as of Sep 24, 2026), against a price of 0.0650 MYR. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Benalec Holdings Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5190 trades below its calculated fair value: price 0.0650 MYR, fair value 0.0683 MYR, a gap of about +5% (fairly valued). 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 5190?
No. The price is what the market pays today (0.0650 MYR); the fair value is what the company's own numbers justify (0.0683 MYR). For Benalec Holdings Bhd the two are 0.0033 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Benalec Holdings Bhd worth?
The market values Benalec Holdings Bhd at about 66.2M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 0.0650 MYR; our models calculate a fair value of 0.0683 MYR per share.
What do the bullish and bearish scenarios say about 5190?
Our models span a range for Benalec Holdings Bhd: cautious scenario 0.0553 MYR, base 0.0683 MYR, optimistic 0.0748 MYR per share (as of Sep 24, 2026, price 0.0650 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Benalec Holdings Bhd (5190)?
Balance-sheet figures for Benalec Holdings Bhd (as of Sep 24, 2026): return on equity −0.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 5190 from its 52-week high?
Benalec Holdings Bhd trades at 0.0650 MYR, about 38% below its 52-week high of 0.1050 MYR and at the low of 0.0650 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.0683 MYR is for.
Which stocks are comparable to Benalec Holdings Bhd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Benalec Holdings Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 0.0650 MYR, calculated fair value 0.0683 MYR (+5%), Quality Score 54/100, from 22 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 5190 calculated?
We run Benalec Holdings Bhd through 22 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 0.0683 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 14.0 % above its aggregate fair value. Benalec Holdings Bhd currently trades 5 % 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 Benalec Holdings Bhd (5190)?
The closing price on Sep 24, 2026 was 0.0650 MYR. Our model-based fair value is 0.0683 MYR, about +5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Benalec Holdings Bhd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Benalec Holdings Bhd
How large is the market capitalisation of Benalec Holdings Bhd (5190)?
The market capitalisation of Benalec Holdings Bhd is 66.2M MYR (≈ $16.2M). 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 Benalec Holdings Bhd (5190)?
The price-to-sales ratio of Benalec Holdings Bhd is 1.26 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Benalec Holdings Bhd (5190)?
The net margin of Benalec Holdings Bhd is 5.3% (fiscal year 2026). 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 Benalec Holdings Bhd (5190)?
The return on equity (ROE) of Benalec Holdings Bhd is −0.1% (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 Benalec Holdings Bhd (5190)?
On an EBIT basis the return on assets of Benalec Holdings Bhd is −2.8% (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 Benalec Holdings Bhd (5190)?
The operating margin of Benalec Holdings Bhd is 4.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Benalec Holdings Bhd (5190)?
Revenue at Benalec Holdings Bhd is growing −32.7% versus a year earlier (3y avg −7.1%). 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 Benalec Holdings Bhd (5190)?
Earnings per share at Benalec Holdings Bhd are growing +90.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Benalec Holdings Bhd (5190) carry?
The net debt of Benalec Holdings Bhd is 28.9M MYR (fiscal year 2026, ≈ 4.0 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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