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5227 Fair Value & Analysis

Real Estate · MY · Market cap 11.8B MYR

5 5227 5227 · KLSE
Price2.75 MYR
Fair Value1.55 MYR
Upside-43.6%
Quality61/100
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Healthy Growth
Highly profitable · 90.2% net margin
Low debt · generates free cash flow
4.63% dividend yield
Ranks above peers (12/15)
Wide moat 72/100
Evidence: High Range 0.9800 MYR – 2.53 MYR Share as image

Fair value as of: Jul 17, 2026

From 16 valuation models · updated 23 days ago

Share price +0.7% over the past month.

A solid business, but screening 44% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (2.53 MYR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (0.9800 MYR to 2.53 MYR) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

3.16 MYR 1.15 MYR Fair Value 1.55 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 1.15 MYR – 3.16 MYR · fair‑value band 0.9800 MYR – 2.53 MYR · the 2.75 MYR price screens above the 1.55 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

5227 (5227) currently trades at 2.75 MYR, while our model-based Fair Value estimate is 1.55 MYR, implying the stock looks roughly 43.6% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, 5227 generated revenue of 795M MYR at a net margin of 90.2%. Revenue grew 52.4% year over year. It earns a return on equity of 13.6%. Net debt stands at 1.9B MYR. Fundamentals as of Jul 17, 2026

Our scenario range runs from 0.9800 MYR (bear case) to 2.53 MYR (bull case); at 2.75 MYR, the current price sits above 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 13% below its 52-week high and 28% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -53% fair-value upside, at -44%, 5227 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 BearBaseBull Evidence
Highest evidence
Growth DCF 0.7700 MYR 1.35 MYR 2.17 MYR 80
Residual Income 1.30 MYR 1.45 MYR 2.21 MYR 76
Rev-Margin DCF 0.4500 MYR 0.9000 MYR 1.41 MYR 74
All 16 models by family
DCF Models
FCF DCF 0.7500 MYR 1.40 MYR 2.38 MYR 38
5Y Revenue Exit 0.4700 MYR 0.9400 MYR 1.54 MYR 39
5Y EBITDA Exit 0.8000 MYR 1.56 MYR 2.45 MYR 41
10Y Revenue Exit 0.5300 MYR 0.9900 MYR 1.58 MYR 36
10Y EBITDA Exit 0.7700 MYR 1.42 MYR 2.28 MYR 37
Dividend Discount
Gordon GGM 0.8700 MYR 1.80 MYR 2.86 MYR 70
DDM Multi-Stage 0.8700 MYR 1.42 MYR 1.89 MYR 61
Multiples
P/S Multiple 0.7900 MYR 1.06 MYR 1.32 MYR 58
P/B Multiple 1.95 MYR 2.60 MYR 3.24 MYR 55
EV/EBIT 1.41 MYR 2.03 MYR 2.64 MYR 53
EV/EBITDA 0.9900 MYR 1.47 MYR 1.94 MYR 54
EV/Revenue 0.3500 MYR 0.7000 MYR 1.04 MYR 43
Asset-Based
NCAV (Graham) 0.7200 MYR 0.9700 MYR 1.45 MYR 50
Growth DCF
Growth DCF 0.7700 MYR 1.35 MYR 2.17 MYR 80
Rev-Margin DCF 0.4500 MYR 0.9000 MYR 1.41 MYR 74
Economic Profit
Residual Income 1.30 MYR 1.45 MYR 2.21 MYR 76

Widest divergence: Multiples (1.47 MYR) versus Growth DCF (0.9000 MYR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 795M MYR
Revenue growth (YoY) +52.4%
Net margin 90.2%
Return on equity 13.6%
Free cash flow 456M MYR FY2025
P/E ratio 14.4
More key figures
Operating margin 72.1%
EPS (TTM) 0.1900 MYR
Dividend yield 4.6%
EPS growth (YoY) +27.6%
Net debt 1.9B MYR FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 59 · Market factors (momentum, volatility) 55

Profitability 42
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 41
Distance to the 52-week high (market factor)
Net Issuance 71
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

IGB Real Estate Investment Trust listed on the Main Market of Bursa Malaysia Securities Berhad on 21 September 2012, it owns income-producing real estate used for retail purposes in Malaysia and overseas.

Full company description

IGB Real Estate Investment Trust listed on the Main Market of Bursa Malaysia Securities Berhad on 21 September 2012, it owns income-producing real estate used for retail purposes in Malaysia and overseas. IGB REIT is managed and administered by IGB REIT Management Sdn Bhd, which works to increase income and enhance asset value over time with the objective of maximising returns from investments. It seeks to own and invest in high-quality real estate portfolios. This is accomplished through active asset management, acquisition growth and capital and risk management. IGB REIT owns two major retail assets, Mid Valley Megamall and The Gardens Mall, located in Mid Valley City, within the Klang Valley. IGB Real Estate Investment Trust is domiciled in Malaysia and established on 25th July, 2012.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

5227 reported revenue of 705M MYR in FY2025 versus 400M MYR in FY2021, a compound +15.3%/yr. Reported net income was 660M MYR in FY2025, compounding +34.8%/yr from FY2021.

Growth Quality 87/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
705M MYR
Latest YoY
+12.6%
Avg. growth/yr (3Y)
+8.2%
Avg. growth/yr (5Y)
+8.4%
Avg. growth/yr (13Y)
+14.9%
Revenue +15.3%/yr
FY21 400M MYR
FY22 556M MYR
FY23 604M MYR
FY24 626M MYR
FY25 705M MYR
Net income +34.8%/yr
FY21 200M MYR
FY22 396M MYR
FY23 518M MYR
FY24 580M MYR
FY25 660M MYR

5227 screens 44% overvalued. Compare with Simon Property Group →

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Cite: Fair Value Calculator (2026). "5227 Fair Value". https://www.fairvalue-calculator.com/stock/5227

Peer Group

REIT - Retail · 107 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 59 · Above median
Fair Value upside −44% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 90% · Top 25%
Operating margin (TTM) 72% · Top 25%
Revenue growth 52% · Top 25%
Dividend yield (TTM) 4.6% · Below median
Debt / equity 0.36× · Lower than 75% of peers

Valuation Multiples vs REIT - Retail median · lower = cheaper

P/E (TTM) 14.4× · Pricier than median
P/B 0.46× · Cheaper than 75% of peers
P/S (TTM) 3.64× · Cheaper than median
P/FCF 6.3× · Cheaper than median
EV/EBITDA 8.7× · Cheaper than 75% of peers
PEG 2.08× · Cheaper than median

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 0 · sector 9
FUTURE 100 · sector 22
PAST 54 · sector 30
HEALTH 82 · sector 66
DIVIDEND 93 · sector 100

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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 REIT - Retail stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

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Frequently asked questions

Is 5227 overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 1.55 MYR versus a price of 2.75 MYR, about −44% (overvalued).
What is the fair value of 5227?
Our model-based fair value for 5227 is 1.55 MYR (as of Jul 17, 2026), built from audited fundamentals. The current price is 2.75 MYR.
What is the quality score of 5227?
5227 has a Quality Score of 61/100. 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 5227?
5227 reported trailing-twelve-month revenue of about 795M MYR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 5227?
The net profit margin of 5227 is about 90.2%, meaning it keeps roughly 90.2% of revenue as net income. Based on the latest reported figures.
Does 5227 pay a dividend?
5227 currently shows a dividend yield of about 4.58% relative to its recent price (as of Jul 17, 2026).

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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