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Gabungan AQRS Berhad, an investment holding company, (5226) Fair Value & Analysis

Industrials · MY · Market cap 89.6M MYR

GA Gabungan AQRS Berhad, an investment holding company, 5226 · KLSE
Price0.1700 MYR
Fair Value0.2700 MYR
Upside+58.8%
Quality51/100
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Expensive Growth
Thin margins · 1.1% net margin
Low debt · negative free cash flow
Mixed vs. peers (4/9)
Narrow moat 25/100
Evidence: Medium Range 0.2600 MYR – 0.2700 MYR Share as image

Fair value as of: Jul 14, 2026

From 9 valuation models · updated 27 days ago

Share price +3.0% over the past month.

A solid business, screening 59% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.2600 MYR). The market is more pessimistic than our downside scenario.
  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
  • The models converge in a tight band (0.2600 MYR to 0.2700 MYR), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

0.7100 MYR 0.1400 MYR Fair Value 0.2700 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 0.1400 MYR – 0.7100 MYR · fair‑value band 0.2600 MYR – 0.2700 MYR · the 0.1700 MYR price screens below the 0.2700 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Gabungan AQRS Berhad, an investment holding company, (5226) currently trades at 0.1700 MYR, while our model-based Fair Value estimate is 0.2700 MYR, implying the stock looks roughly 58.8% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials 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: medium), always confirm before acting.

Over the trailing twelve months, Gabungan AQRS Berhad, an investment holding company, generated revenue of 209M MYR at a net margin of 1.1%. Revenue declined 32.7% year over year. Net debt stands at 254M MYR. Fundamentals as of Jul 14, 2026

Our scenario range runs from 0.2600 MYR (bear case) to 0.2700 MYR (bull case); at 0.1700 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 about 24% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 59%, 5226 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
ROIC Compounder 0.2500 MYR 0.2600 MYR 0.2700 MYR 72
Gordon GGM 0.0600 MYR 0.0700 MYR 0.0700 MYR 70
DDM Multi-Stage 0.0600 MYR 0.0700 MYR 0.0900 MYR 61
All 9 models by family
DCF Models
Owner Earnings 0.1700 MYR 0.1700 MYR 0.1700 MYR 31
Earnings-Based
EPV 0.2500 MYR 0.2600 MYR 0.2700 MYR 59
Dividend Discount
Gordon GGM 0.0600 MYR 0.0700 MYR 0.0700 MYR 70
DDM Multi-Stage 0.0600 MYR 0.0700 MYR 0.0900 MYR 61
Multiples
EV/EBIT 0.4700 MYR 0.5700 MYR 0.6700 MYR 53
EV/EBITDA 0.5000 MYR 0.6100 MYR 0.7200 MYR 54
EV/Revenue 0.3800 MYR 0.4800 MYR 0.5700 MYR 43
Asset-Based
NCAV (Graham) 0.4600 MYR 0.6200 MYR 0.9300 MYR 50
Economic Profit
ROIC Compounder 0.2500 MYR 0.2600 MYR 0.2700 MYR 72

Widest divergence: Asset-Based (0.6200 MYR) versus Dividend Discount (0.0700 MYR). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) 209M MYR
Revenue growth (YoY) -32.7%
Net margin 1.1%
Return on equity -116%
Free cash flow −83.9M MYR FY2025
Operating margin 9.2%
More key figures
EPS growth (YoY) -97.0%
Net debt 254M MYR FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 46 · Market factors (momentum, volatility) 45

Profitability 8
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 31
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 90
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

Gabungan AQRS Berhad, an investment holding company, engages in development and construction of property in Malaysia. The company operates through Construction, Property Development, and Other segments.

Full company description

Gabungan AQRS Berhad, an investment holding company, engages in development and construction of property in Malaysia. The company operates through Construction, Property Development, and Other segments. It undertakes multiple building and civil engineering projects, such as high-rise buildings, residential and commercial developments, infrastructure, and transportation projects. The company also provides engineering services, including mechanical and electrical engineering, as well as project management services. In addition, it acts as a contractor for civil and building construction works; invests in properties; and offers management services. The company was incorporated in 2010 and is based in Petaling Jaya, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Gabungan AQRS Berhad, an investment holding company, reported revenue of 223M MYR in FY2025 versus 331M MYR in FY2021, a compound −9.4%/yr. Reported net income was −5.0M MYR in FY2025.

Growth Quality 24/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
223M MYR
Latest YoY
−9.6%
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.
−12.9%
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.
+2.0%
Avg. growth/yr (14Y) 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.
−0.4%
Revenue −9.4%/yr
FY21 331M MYR
FY22 338M MYR
FY23 284M MYR
FY24 247M MYR
FY25 223M MYR
Net income
FY21 15.8M MYR
FY22 20.2M MYR
FY23 12.5M MYR
FY24 −14.9M MYR
FY25 −5.0M MYR

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Cite: Fair Value Calculator (2026). "Gabungan AQRS Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/5226

Peer Group

Engineering & Construction · 839 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 51 · Above median
Fair Value upside +59% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 9% · Above median
Revenue growth -33% · Bottom 25%
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/S (TTM) 0.11× · Cheaper than 75% of peers

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 16
FUTURE 0 · sector 17
PAST 0 · sector 26
HEALTH 92 · sector 94
DIVIDEND 0 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Gabungan AQRS Berhad, an investment holding company, (5226) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 0.2700 MYR versus a price of 0.1700 MYR, about +59% (undervalued).
What is the fair value of 5226?
Our model-based fair value for Gabungan AQRS Berhad, an investment holding company, is 0.2700 MYR (as of Jul 14, 2026), built from audited fundamentals. The current price is 0.1700 MYR.
What is the quality score of 5226?
Gabungan AQRS Berhad, an investment holding company, has a Quality Score of 51/100. 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 Gabungan AQRS Berhad, an investment holding company, (5226)?
Gabungan AQRS Berhad, an investment holding company, reported trailing-twelve-month revenue of about 209M MYR (latest available figure, as of Jul 14, 2026).
What is the net profit margin of 5226?
The net profit margin of Gabungan AQRS Berhad, an investment holding company, is about 1.1%, meaning it keeps roughly 1.1% of revenue as net income. Based on the latest reported figures.

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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