ELK-Desa Resources Bhd (5228) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of ELK-Desa Resources Bhd MYR 0.89, price MYR 0.98, upside -9.2%, quality 66 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 0.6916 MYR – 1.20 MYR · fair‑value band 0.4900 MYR – 1.24 MYR · the 0.9800 MYR price screens above the 0.8900 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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ELK-Desa Resources Berhad, an investment holding company, provides hire-purchase financing and other integrated services for used motor vehicles in Malaysia. It operates in two segments, Hire-Purchase Financing and Furniture.
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ELK-Desa Resources Berhad, an investment holding company, provides hire-purchase financing and other integrated services for used motor vehicles in Malaysia. It operates in two segments, Hire-Purchase Financing and Furniture. The company is involved in the sale of general insurance policies as an insurance agent; and manufacture, trading, and wholesale of home furniture products. ELK-Desa Resources Berhad was incorporated in 1989 and is headquartered in Kuala Lumpur, Malaysia.
Stock analysis
ELK-Desa Resources Bhd (5228) currently trades at 0.9800 MYR, while our model-based Fair Value estimate is 0.8900 MYR, implying the stock looks roughly 10.1% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 0.9500 MYR per share, and 2 of the 11 models we run sit above the 0.9800 MYR price.
Bear case: the Growth DCF group reads lowest at 0.7200 MYR, and 9 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.4900 MYR (bear) to 1.24 MYR (bull), the price of 0.9800 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 66/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
ELK-Desa Resources Bhd reported revenue of 204M MYR in FY2026 versus 129M MYR in FY2022, a compound +12.2%/yr. Reported net income was 31.6M MYR in FY2026, compounding +5.2%/yr from FY2022.
Key figures
Market cap 428M MYR (≈ $105M) · P/E ratio 13.6 · P/S ratio 2.10 · EPS (TTM) 0.0722 MYR · Dividend yield 4.6% · Net margin 15.5% · Return on equity 6.5% · Return on assets (EBIT) 8.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −32% fair-value upside, at −9%, 5228 screens cheaper than that median.
Fair Value models
Bear 0.4900 MYRFair Value 0.8900 MYRBull 1.24 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 2026 figures (about 6 months old). Earnings retained since then (0.0122 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.79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.7%
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.
+9.5%
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.
+7.2%
Start year 2021 (pandemic). Over 10 years: +12.3% 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.
+15.3%
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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.
+3.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.6%
Dividend (yield on the price)4.6%
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.−2% vs 1%, steady
Profit margin 2021 to 2026 ⓘ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.41% → 44%
Start year 2021 (pandemic)
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).
+16.2%
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 +13.9% 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.Credit Services · 331 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside−9% · Below median
Profitability
Return on equity (TTM)6% · Below median
Return on assets4% · Above median
Net margin (TTM)23% · Above median
Operating margin (TTM)29% · Below median
Growth and dividend
Revenue growth8% · Above median
Dividend yield (TTM)4.6% · Above median
Balance sheet
Debt / equity0.51× · Below median
Valuation Multiplesvs Credit Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "ELK-Desa Resources Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5228
Frequently asked questions
Is ELK-Desa Resources Bhd (5228) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.8900 MYR versus a price of 0.9800 MYR, about −9% upside (fairly valued).
What is the fair value of 5228?
Our model-based fair value for ELK-Desa Resources Bhd is 0.8900 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.9800 MYR.
What is the quality score of 5228?
ELK-Desa Resources Bhd has a Quality Score of 66/100. 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 ELK-Desa Resources Bhd (5228)?
Our model-based price target is the fair value of 0.8900 MYR (as of Sep 24, 2026) from 11 valuation models. Cautious scenario 0.4900 MYR, optimistic scenario 1.24 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the ELK-Desa Resources Bhd stock forecast for 2026?
Our models put fair value at 0.8900 MYR, about −9% upside versus a price of 0.9800 MYR (fairly valued). Cautious scenario 0.4900 MYR, optimistic scenario 1.24 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of ELK-Desa Resources Bhd (5228)?
ELK-Desa Resources Bhd reported trailing-twelve-month revenue of about 140M MYR (latest available figure, as of Sep 24, 2026).
Does ELK-Desa Resources Bhd pay a dividend?
ELK-Desa Resources Bhd currently shows a dividend yield of about 4.59% relative to its recent price (as of Sep 24, 2026).
What growth is priced into ELK-Desa Resources Bhd (5228)?
For today's price to be fair in a discounted-cash-flow model, ELK-Desa Resources Bhd would have to grow free cash flow by +16.2 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5228 use?
Our models discount ELK-Desa Resources Bhd at 12.6 %: a base by market capitalisation (micro), damped by beta 0.13, 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 ELK-Desa Resources Bhd that is +16.2 % per year a year over ten years, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has ELK-Desa Resources Bhd (5228) delivered so far?
Over the past 5 years revenue at ELK-Desa Resources Bhd grew +7.2 % a year. The price currently implies +16.2 % 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 ELK-Desa Resources Bhd (5228) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into ELK-Desa Resources Bhd (+16.2 % 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 ELK-Desa Resources Bhd (5228)?
The free-cash-flow yield on the price is 8.47 %: that much free cash flow ELK-Desa Resources Bhd produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ELK-Desa Resources Bhd (5228)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ELK-Desa Resources Bhd it is 0.8900 MYR per share (as of Sep 24, 2026), against a price of 0.9800 MYR. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is ELK-Desa Resources Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5228 trades above its calculated fair value: price 0.9800 MYR, fair value 0.8900 MYR, a gap of about −9% (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 5228?
No. The price is what the market pays today (0.9800 MYR); the fair value is what the company's own numbers justify (0.8900 MYR). For ELK-Desa Resources Bhd the two are 0.0900 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is ELK-Desa Resources Bhd worth?
The market values ELK-Desa Resources Bhd at about 428M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 0.9800 MYR; our models calculate a fair value of 0.8900 MYR per share.
What do the bullish and bearish scenarios say about 5228?
Our models span a range for ELK-Desa Resources Bhd: cautious scenario 0.4900 MYR, base 0.8900 MYR, optimistic 1.24 MYR per share (as of Sep 24, 2026, price 0.9800 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5228?
ELK-Desa Resources Bhd trades at a price-to-earnings ratio of 13.6 (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 0.8900 MYR is built from several models across several years. Excluding one-off items of fiscal year 2026 it is 10.9 (reported 13.6). Other multiples: P/B 0.2, P/S 0.7, EV/EBITDA 4.3.
How solid is the balance sheet of ELK-Desa Resources Bhd (5228)?
Balance-sheet figures for ELK-Desa Resources Bhd (as of Sep 24, 2026): return on equity 6.5%, debt of 0.51 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 5228 from its 52-week high?
ELK-Desa Resources Bhd trades at 0.9800 MYR, about 13% below its 52-week high of 1.12 MYR and 1% above the low of 0.9750 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.8900 MYR is for.
Which stocks are comparable to ELK-Desa Resources Bhd?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial 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 ELK-Desa Resources Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 0.9800 MYR, calculated fair value 0.8900 MYR (−9%), Quality Score 66/100, from 11 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 5228 calculated?
We run ELK-Desa Resources Bhd through 11 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 0.8900 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. ELK-Desa Resources 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 ELK-Desa Resources Bhd (5228)?
The closing price on Sep 24, 2026 was 0.9800 MYR. Our model-based fair value is 0.8900 MYR, about −9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ELK-Desa Resources Bhd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (0.4900 MYR to 1.24 MYR) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of ELK-Desa Resources Bhd
How large is the market capitalisation of ELK-Desa Resources Bhd (5228)?
The market capitalisation of ELK-Desa Resources Bhd is 428M MYR (≈ $105M). 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 ELK-Desa Resources Bhd (5228)?
The price-to-sales ratio of ELK-Desa Resources Bhd is 2.10 (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 ELK-Desa Resources Bhd (5228)?
Earnings per share at ELK-Desa Resources Bhd are 0.0722 MYR (price ÷ EPS = P/E 13.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ELK-Desa Resources Bhd (5228)?
The dividend yield of ELK-Desa Resources Bhd is 4.6% (payout 62.3%). 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 ELK-Desa Resources Bhd (5228)?
The net margin of ELK-Desa Resources Bhd is 15.5% (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 ELK-Desa Resources Bhd (5228)?
The return on equity (ROE) of ELK-Desa Resources Bhd is 6.5% (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 ELK-Desa Resources Bhd (5228)?
On an EBIT basis the return on assets of ELK-Desa Resources Bhd is 8.5% (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 ELK-Desa Resources Bhd (5228)?
The operating margin of ELK-Desa Resources Bhd is 29.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ELK-Desa Resources Bhd (5228)?
Revenue at ELK-Desa Resources Bhd is growing +7.8% versus a year earlier (3y avg +9.5%). 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 ELK-Desa Resources Bhd (5228)?
Earnings per share at ELK-Desa Resources Bhd are growing +24.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ELK-Desa Resources Bhd (5228) carry?
The net debt of ELK-Desa Resources Bhd is 349M MYR (fiscal year 2026, ≈ 9.6 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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