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ELK-Desa Resources Berhad, an investment holding company, (5228) Fair Value & Analysis

Financial Services · MY · Market cap 443M MYR

ED ELK-Desa Resources Berhad, an investment holding company, 5228 · KLSE
Price1.02 MYR
Fair Value0.9500 MYR
Upside-6.9%
Quality66/100
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Healthy Growth
Highly profitable · 22.5% net margin
Moderate debt · generates free cash flow
4.41% dividend yield
Ranks above peers (9/14)
Moderate moat 63/100
Evidence: High Range 0.7100 MYR – 1.18 MYR Share as image

Fair value as of: Jul 20, 2026

From 11 valuation models · updated 21 days ago

Fair value updated Jul 20, 2026, revised from 0.9400 MYR to 0.9500 MYR (+1.1%) since Jun 26, 2026.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

1.20 MYR 0.6916 MYR Fair Value 0.9500 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 0.6916 MYR – 1.20 MYR · fair‑value band 0.7100 MYR – 1.18 MYR · the 1.02 MYR price screens above the 0.9500 MYR fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

ELK-Desa Resources Berhad, an investment holding company, (5228) currently trades at 1.02 MYR, while our model-based Fair Value estimate is 0.9500 MYR, implying the stock looks roughly 6.9% fairly valued today. The Quality Score stands at 66/100 (solid quality), in the Financial Services 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, ELK-Desa Resources Berhad, an investment holding company, generated revenue of 137M MYR at a net margin of 21.9%. Revenue declined 3.5% year over year. It earns a return on equity of 6.2%. Net debt stands at 349M MYR. Fundamentals as of Jul 20, 2026

Our scenario range runs from 0.7100 MYR (bear case) to 1.18 MYR (bull case); at 1.02 MYR, the current price sits within 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 9% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -41% fair-value upside, at -7%, 5228 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
Growth DCF 0.3600 MYR 0.8700 MYR 1.58 MYR 80
Residual Income 0.8400 MYR 0.8500 MYR 0.8300 MYR 76
Rev-Margin DCF 0.2300 MYR 0.7000 MYR 1.31 MYR 74
All 11 models by family
DCF Models
Owner Earnings 0.2900 MYR 0.8100 MYR 1.59 MYR 31
5Y P/E Exit 0.2300 MYR 0.7100 MYR 1.25 MYR 38
10Y P/E Exit 0.2800 MYR 0.7100 MYR 1.29 MYR 35
Earnings-Based
Graham-Dodd 0.4900 MYR 2.24 MYR 3.07 MYR 54
Lynch FV 0.5900 MYR 0.8400 MYR 1.09 MYR 50
Multiples
P/E Multiple 0.7100 MYR 0.9500 MYR 1.18 MYR 63
P/B Multiple 0.9300 MYR 1.24 MYR 1.54 MYR 55
Asset-Based
NCAV (Graham) 0.5600 MYR 0.7500 MYR 1.12 MYR 50
Growth DCF
Growth DCF 0.3600 MYR 0.8700 MYR 1.58 MYR 80
Rev-Margin DCF 0.2300 MYR 0.7000 MYR 1.31 MYR 74
Economic Profit
Residual Income 0.8400 MYR 0.8500 MYR 0.8300 MYR 76

Widest divergence: Multiples (0.9500 MYR) versus Growth DCF (0.7000 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 140M MYR
Revenue growth (YoY) +7.8%
Net margin 22.5%
Return on equity 6.5%
Free cash flow 36.2M MYR FY2026
P/E ratio 14.6
More key figures
Operating margin 29.3%
EPS (TTM) 0.0700 MYR
Dividend yield 4.4%
EPS growth (YoY) +24.1%
Net debt 349M MYR FY2026

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 62 · Market factors (momentum, volatility) 52

Profitability 34
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 98
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

ELK-Desa Resources Berhad, an investment holding company, 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.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
204M MYR
Latest YoY
+3.7%
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.
+9.5%
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.
+7.2%
Avg. growth/yr (13Y) 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.
+15.3%
Revenue +12.2%/yr
FY22 129M MYR
FY23 155M MYR
FY24 168M MYR
FY25 197M MYR
FY26 204M MYR
Net income +5.2%/yr
FY22 25.8M MYR
FY23 47.7M MYR
FY24 36.7M MYR
FY25 32.6M MYR
FY26 31.6M MYR

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Cite: Fair Value Calculator (2026). "ELK-Desa Resources Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/5228

Peer Group

Credit Services · 331 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 67 · Top 25%
Fair Value upside −7% · Below median
Return on equity (TTM) 6% · Below median
Return on assets 4% · Above median
Net margin (TTM) 23% · Above median
Operating margin (TTM) 29% · Below median
Revenue growth 8% · Above median
Dividend yield (TTM) 4.4% · Above median
Debt / equity 0.51× · Lower than median

Valuation Multiples vs Credit Services median · lower = cheaper

P/E (TTM) 14.6× · Pricier than median
P/B 0.22× · Cheaper than 75% of peers
P/S (TTM) 0.77× · Cheaper than 75% of peers
P/FCF 3.0× · Pricier than 75% of peers
EV/EBITDA 4.3× · 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 24 · sector 37
FUTURE 39 · sector 39
PAST 26 · sector 32
HEALTH 75 · sector 58
DIVIDEND 88 · sector 51

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 Credit Services stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Visa Inc V $348.97 $204.19 -41%
Mastercard Incorporated MA $537.70 $221.87 -59%
American Express Company AXP $358.44 $206.40 -42%
Bajaj Finance Limited BAJFINANCE ₹1,056 ₹397.61 -62%
Shriram Finance Limited SHRIRAMFIN ₹1,024 ₹553.83 -46%
Cholamandalam Investment and Finance Company CHOLAFIN ₹1,808 ₹796.52 -56%
Tata Capital Limited TATACAP ₹360.60 ₹229.85 -36%
Power Finance Corporation PFC ₹405.10 ₹810.20 +100%
Muthoot Finance Limited MUTHOOTFIN ₹3,129 ₹3,463 +11%
Indian Railway Finance Corporation IRFC ₹88.41 ₹69.72 -21%

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Frequently asked questions

Is ELK-Desa Resources Berhad, an investment holding company, (5228) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 0.9500 MYR versus a price of 1.02 MYR, about −7% (fairly valued).
What is the fair value of 5228?
Our model-based fair value for ELK-Desa Resources Berhad, an investment holding company, is 0.9500 MYR (as of Jul 20, 2026), built from audited fundamentals. The current price is 1.02 MYR.
What is the quality score of 5228?
ELK-Desa Resources Berhad, an investment holding company, 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 revenue of ELK-Desa Resources Berhad, an investment holding company, (5228)?
ELK-Desa Resources Berhad, an investment holding company, reported trailing-twelve-month revenue of about 137M MYR (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 5228?
The net profit margin of ELK-Desa Resources Berhad, an investment holding company, is about 21.9%, meaning it keeps roughly 21.9% 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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