Gas Malaysia Bhd (5209) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Gas Malaysia Bhd MYR 3.00, price MYR 4.95, upside -39.4%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Gas Malaysia Berhad sells, markets, and distributes natural gas to the industrial, commercial, and residential sectors in Malaysia. The company operates in two segments: Natural Gas & LPG, and Others. It also develops, operates, and maintains natural gas distribution system in Peninsular Malaysia; and provides management services.
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Gas Malaysia Berhad sells, markets, and distributes natural gas to the industrial, commercial, and residential sectors in Malaysia. The company operates in two segments: Natural Gas & LPG, and Others. It also develops, operates, and maintains natural gas distribution system in Peninsular Malaysia; and provides management services. In addition, the company promotes, markets, and sells liquefied petroleum gas, compressed natural gas, other gaseous fuel, and natural gas through reticulation systems and bulk supply, including related services and energy solutions; develops, operates, and maintains the distribution pipeline and deliver gas; provides energy solutions; holds properties; produce and sells graphene; and operates biomethane and virtual pipelines. Gas Malaysia Berhad was incorporated in 1992 and is headquartered in Shah Alam, Malaysia.
Stock analysis
Gas Malaysia Bhd (5209) currently trades at 4.95 MYR, while our model-based Fair Value estimate is 3.00 MYR, implying the stock looks roughly 65.0% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 5.05 MYR per share, and 5 of the 17 models we run sit above the 4.95 MYR price.
Bear case: the Asset-Based group reads lowest at 0.8100 MYR, and 12 of the 17 models stay below the price. Evidence for this calculation is high.
Scenario range: 2.02 MYR (bear) to 3.89 MYR (bull), the price of 4.95 MYR sits above 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 56/100 (solid quality), in the Utilities sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Gas Malaysia Bhd reported revenue of 7.3B MYR in FY2025 versus 5.9B MYR in FY2021, a compound +5.8%/yr. Reported net income was 382M MYR in FY2025, compounding +11.2%/yr from FY2021.
Key figures
Market cap 6.4B MYR (≈ $1.6B) · P/E ratio 17.1 · P/S ratio 0.89 · EPS (TTM) 0.2900 MYR · Dividend yield 4.8% · Net margin 5.2% · Return on equity 27.0% · Return on assets (EBIT) 14.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 23% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −11% fair-value upside, at −39%, 5209 screens richer than that median.
Fair Value models
Bear 2.02 MYRFair Value 3.00 MYRBull 3.89 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 9 months old). Earnings retained since then (0.0380 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.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.28/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−8.8%
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.
−1.4%
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.
+1.9%
Start year 2020 (pandemic). Over 10 years: +7.3% a year
Revenue growth 13 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.
+10.0%
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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.
+17.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.4%
Dividend (yield on the price)4.8%
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.12% vs 9%, 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.4% → 7%
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.Utilities - Regulated Gas · 107 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score56 · Top 25%
Fair Value upside−39% · Bottom 25%
Profitability
Return on equity (TTM)27% · Top 25%
Return on assets9% · Top 25%
Net margin (TTM)5% · Below median
Operating margin (TTM)8% · Below median
Growth and dividend
Revenue growth−14% · Bottom 25%
Dividend yield (TTM)4.8% · Above median
Balance sheet
Debt / equity0.34× · Above median
Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper
P/E (TTM)17.1× · Pricier than median
P/B1.00× · Cheaper than median
P/S (TTM)0.22× · Cheapest 25%
EV/EBITDA2.5× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 36
FUTURE (revenue growth)0· sector 0
PAST (return on equity)100· sector 35
HEALTH (low debt)83· sector 83
DIVIDEND (yield)96· sector 72
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Gas Malaysia Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5209
Frequently asked questions
Is Gas Malaysia Bhd (5209) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3.00 MYR versus a price of 4.95 MYR, about −39% upside (overvalued).
What is the fair value of 5209?
Our model-based fair value for Gas Malaysia Bhd is 3.00 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 4.95 MYR.
What is the quality score of 5209?
Gas Malaysia Bhd has a Quality Score of 56/100. 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 Gas Malaysia Bhd (5209)?
Our model-based price target is the fair value of 3.00 MYR (as of Sep 24, 2026) from 17 valuation models. Cautious scenario 2.02 MYR, optimistic scenario 3.89 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Gas Malaysia Bhd stock forecast for 2026?
Our models put fair value at 3.00 MYR, about −39% upside versus a price of 4.95 MYR (overvalued). Cautious scenario 2.02 MYR, optimistic scenario 3.89 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Gas Malaysia Bhd (5209)?
Gas Malaysia Bhd reported trailing-twelve-month revenue of about 7.1B MYR (latest available figure, as of Sep 24, 2026).
Does Gas Malaysia Bhd pay a dividend?
Gas Malaysia Bhd currently shows a dividend yield of about 4.81% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Gas Malaysia Bhd (5209)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gas Malaysia Bhd it is 3.00 MYR per share (as of Sep 24, 2026), against a price of 4.95 MYR. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Gas Malaysia Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5209 trades above its calculated fair value: price 4.95 MYR, fair value 3.00 MYR, a gap of about −39% (overvalued). 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 5209?
No. The price is what the market pays today (4.95 MYR); the fair value is what the company's own numbers justify (3.00 MYR). For Gas Malaysia Bhd the two are 1.95 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Gas Malaysia Bhd worth?
The market values Gas Malaysia Bhd at about 6.4B MYR (market capitalisation, as of Sep 24, 2026). Per share that is 4.95 MYR; our models calculate a fair value of 3.00 MYR per share.
What do the bullish and bearish scenarios say about 5209?
Our models span a range for Gas Malaysia Bhd: cautious scenario 2.02 MYR, base 3.00 MYR, optimistic 3.89 MYR per share (as of Sep 24, 2026, price 4.95 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5209?
Gas Malaysia Bhd trades at a price-to-earnings ratio of 17.1 (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 3.00 MYR is built from several models across several years. Other multiples: P/B 1.0, P/S 0.2, EV/EBITDA 2.5.
How solid is the balance sheet of Gas Malaysia Bhd (5209)?
Balance-sheet figures for Gas Malaysia Bhd (as of Sep 24, 2026): return on equity 27.0%, debt of 0.34 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 5209 from its 52-week high?
Gas Malaysia Bhd trades at 4.95 MYR, about 15% below its 52-week high of 5.81 MYR and 23% above the low of 4.03 MYR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 3.00 MYR is for.
Which stocks are comparable to Gas Malaysia Bhd?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, NiSource Inc, Uniper SE, 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 Gas Malaysia Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 4.95 MYR, calculated fair value 3.00 MYR (−39%), Quality Score 56/100, from 17 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 5209 calculated?
We run Gas Malaysia Bhd through 17 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 3.00 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 14.1 % above its aggregate fair value. Gas Malaysia Bhd itself currently trades above fair value. 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 Gas Malaysia Bhd (5209)?
The closing price on Sep 23, 2026 was 4.95 MYR. Our model-based fair value is 3.00 MYR, about −39% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gas Malaysia Bhd right now?
The price sits above even our optimistic bull case (3.89 MYR). The favourable scenario is already priced in. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (2.02 MYR to 3.89 MYR) leaves room in how you read the outcome.
Key figures of Gas Malaysia Bhd
How large is the market capitalisation of Gas Malaysia Bhd (5209)?
The market capitalisation of Gas Malaysia Bhd is 6.4B MYR (≈ $1.6B). 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 Gas Malaysia Bhd (5209)?
The price-to-sales ratio of Gas Malaysia Bhd is 0.89 (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 Gas Malaysia Bhd (5209)?
Earnings per share at Gas Malaysia Bhd are 0.2900 MYR (price ÷ EPS = P/E 17.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Gas Malaysia Bhd (5209)?
The dividend yield of Gas Malaysia Bhd is 4.8% (payout 82.1%). 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 Gas Malaysia Bhd (5209)?
The net margin of Gas Malaysia Bhd is 5.2% (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 Gas Malaysia Bhd (5209)?
The return on equity (ROE) of Gas Malaysia Bhd is 27.0% (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 Gas Malaysia Bhd (5209)?
On an EBIT basis the return on assets of Gas Malaysia Bhd is 14.9% (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 Gas Malaysia Bhd (5209)?
The operating margin of Gas Malaysia Bhd is 8.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gas Malaysia Bhd (5209)?
Revenue at Gas Malaysia Bhd is growing −13.7% versus a year earlier (3y avg −1.4%). 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 Gas Malaysia Bhd (5209)?
Earnings per share at Gas Malaysia Bhd are growing −7.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Gas Malaysia Bhd (5209) generate?
The free cash flow of Gas Malaysia Bhd is −128M MYR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Gas Malaysia Bhd (5209) carry?
The net debt of Gas Malaysia Bhd is 144M MYR (fiscal year 2025). 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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