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Tune Protect Group Bhd (5230) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Tune Protect Group Bhd MYR 0.49, price MYR 0.26, upside +88.5%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Financial Services · MY · ISIN MYL5230OO007

TP Thin data Sep 23, 2026

Tune Protect Group Bhd

5230 · KLSE

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value 0.4900 MYR · Strongly undervalued (+88%)
!Quality 58/100
!Expensive Growth (revenue 5y +8.4 %/yr)
!Thin margins · 7.0% net margin (TTM)
!negative free cash flow
·5.00% dividend yield
✓Ranks above peers (8/12)
!Narrow moat 33/100
!Evidence only low, so the estimate is less certain
!Weak on past: 19 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

0.5015 MYR 0.2245 MYR Fair Value 0.4900 MYR May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range 0.2245 MYR – 0.5015 MYR · fair‑value band 0.3650 MYR – 0.6100 MYR · the 0.2600 MYR price screens below the 0.4900 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Tune Protect Group Berhad, a financial holding company, provides underwriting and reinsurance services for non-life insurance products in Malaysia and internationally.

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Tune Protect Group Berhad, a financial holding company, provides underwriting and reinsurance services for non-life insurance products in Malaysia and internationally. The company offers travel insurance, such as document protection, travel golf, student travel, pet travel, travel adventure, travel cancellation, collision damage assurance, and travel electronic insurance; motor and bike insurance; and health insurance, including pro-health medical, critical safe, hospital cash insurance, e-cancer care, major critical illnesses, and diabetes insurance. It also provides personal insurance, snatch theft protection, sports protection, person with disability coverage, loss of life coverage, kids' coverage, and protection for seniors up to 99 years old; home insurance comprising protection for home building structure, home content or belongings against fire, flood, or landslides, as well as add-on home insurance, and protection against natural disasters; and reinsurance. The company was formerly known as Tune Ins Holdings Berhad and changed its name to Tune Protect Group Berhad in September 2015. Tune Protect Group Berhad was incorporated in 2011 and is based in Kuala Lumpur, Malaysia.

Stock analysis

Tune Protect Group Bhd (5230) currently trades at 0.2600 MYR, while our model-based Fair Value estimate is 0.4900 MYR, implying the stock looks roughly 46.9% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 0.4900 MYR per share, and 4 of the 4 models we run sit above the 0.2600 MYR price.

Bear case: the Multiples group reads lowest at 0.4600 MYR, and 0 of the 4 models stay below the price. Evidence for this calculation is low.

Scenario range: 0.3650 MYR (bear) to 0.6100 MYR (bull), the price of 0.2600 MYR sits below 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 58/100 (solid quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Tune Protect Group Bhd reported revenue of 394M MYR in FY2025 versus 212M MYR in FY2021, a compound +16.8%/yr. Reported net income was 26.5M MYR in FY2025.

Key figures

Market cap 196M MYR (≈ $48.1M) · P/E ratio 8.7 · P/S ratio 0.58 · EPS (TTM) 0.0300 MYR · Dividend yield 5.0% · Net margin 6.7% · Return on equity 4.6% · Return on assets (EBIT) 0.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 22% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −24% fair-value upside, at 88%, 5230 screens cheaper than that median.

Fair Value models

Bear 0.3650 MYR Fair Value 0.4900 MYR Bull 0.6100 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 (0.0125 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.
Highest evidence
Residual Income 0.5000 MYR 0.4800 MYR 0.4000 MYR 76
P/E Multiple 0.3400 MYR 0.4600 MYR 0.5700 MYR 63
P/B Multiple 0.4500 MYR 0.6000 MYR 0.7500 MYR 55
All 4 models by family
Multiples
P/E Multiple 0.3400 MYR 0.4600 MYR 0.5700 MYR 63
P/B Multiple 0.4500 MYR 0.6000 MYR 0.7500 MYR 55
Asset-Based
NCAV (Graham) 0.3700 MYR 0.4900 MYR 0.7300 MYR 51
Economic Profit
Residual Income 0.5000 MYR 0.4800 MYR 0.4000 MYR 76

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Quality Score breakdown

Overall quality 58/100

Of which business quality 56 · Market factors (momentum, volatility) 40

Profitability 35
Margins and returns on capital today
Quality Growth 79
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 81
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 45/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.1%
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.
+9.6%
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.
+8.4%
Start year 2020 (pandemic). Over 10 years: +1.0% 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.
+6.0%
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.
−0.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.2%
Dividend (yield on the price)5.0%
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.−5% vs −11%, 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.13% → 11%
Start year 2020 (pandemic)

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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.Insurance - Diversified · 83 stocks

Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 60 · Above median
Fair Value upside +89% · Top 25%
Profitability
Return on equity (TTM) 5% · Bottom 25%
Return on assets 3% · Above median
Net margin (TTM) 7% · Below median
Operating margin (TTM) 2% · Bottom 25%
Growth and dividend
Revenue growth −13% · Bottom 25%
Dividend yield (TTM) 5.0% · Above median

Valuation Multiplesvs Insurance - Diversified median · lower = cheaper

P/E (TTM) 8.7× · Cheapest 25%
P/B 0.09× · Cheapest 25%
P/S (TTM) 0.14× · Cheapest 25%
EV/EBITDA 0.5× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 6
FUTURE (revenue growth)0 · sector 32
PAST (return on equity)19 · sector 49
HEALTH (low debt)0 · sector 89
DIVIDEND (yield)100 · sector 73

Context: sector, industry, market

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

Similar stocks

10 more Insurance - Diversified stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Allianz SE ALV €419.20 €242.06 −42%
Zurich Insurance Group ZURN CHF 579.20 CHF 325.49 −44%
AXA SA CS €43.97 €39.76 −10%
Assicurazioni Generali S.p.A G €43.32 €10.92 −75%
Sun Life Financial Inc SLF $80.71 $41.22 −49%
American International Group AIG $75.18 $70.37 −6%
The Hartford Insurance Group HIG $126.59 $133.10 +5%
Arch Capital Group ACGL $95.16 $124.45 +31%
Talanx AG TLX €121.00 €92.38 −24%
Swiss Life Holding SLHN CHF 903.20 CHF 413.93 −54%

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Tune Protect Group Bhd · Fair Value
0.4900 MYR +47%Fair Value
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Cite: Fair Value Calculator (2026). "Tune Protect Group Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5230

Frequently asked questions

Is Tune Protect Group Bhd (5230) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 0.4900 MYR versus a price of 0.2600 MYR, about +88% upside (undervalued).
What is the fair value of 5230?
Our model-based fair value for Tune Protect Group Bhd is 0.4900 MYR (as of Sep 23, 2026), built from audited fundamentals. The current price: 0.2600 MYR.
What is the quality score of 5230?
Tune Protect Group Bhd has a Quality Score of 58/100. 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 Tune Protect Group Bhd (5230)?
Our model-based price target is the fair value of 0.4900 MYR (as of Sep 23, 2026) from 4 valuation models. Cautious scenario 0.3650 MYR, optimistic scenario 0.6100 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Tune Protect Group Bhd stock forecast for 2026?
Our models put fair value at 0.4900 MYR, about +88% upside versus a price of 0.2600 MYR (undervalued). Cautious scenario 0.3650 MYR, optimistic scenario 0.6100 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Tune Protect Group Bhd (5230)?
Tune Protect Group Bhd reported trailing-twelve-month revenue of about 339M MYR (latest available figure, as of Sep 23, 2026).
Does Tune Protect Group Bhd pay a dividend?
Tune Protect Group Bhd currently shows a dividend yield of about 5.00% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Tune Protect Group Bhd (5230)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tune Protect Group Bhd it is 0.4900 MYR per share (as of Sep 23, 2026), against a price of 0.2600 MYR. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Tune Protect Group Bhd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 5230 trades below its calculated fair value: price 0.2600 MYR, fair value 0.4900 MYR, a gap of about +88% (undervalued). 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 5230?
No. The price is what the market pays today (0.2600 MYR); the fair value is what the company's own numbers justify (0.4900 MYR). For Tune Protect Group Bhd the two are 0.2300 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Tune Protect Group Bhd worth?
The market values Tune Protect Group Bhd at about 196M MYR (market capitalisation, as of Sep 23, 2026). Per share that is 0.2600 MYR; our models calculate a fair value of 0.4900 MYR per share.
What do the bullish and bearish scenarios say about 5230?
Our models span a range for Tune Protect Group Bhd: cautious scenario 0.3650 MYR, base 0.4900 MYR, optimistic 0.6100 MYR per share (as of Sep 23, 2026, price 0.2600 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5230?
Tune Protect Group Bhd trades at a price-to-earnings ratio of 8.7 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.4900 MYR is built from several models across several years. Other multiples: P/B 0.1, P/S 0.1, EV/EBITDA 0.5.
How solid is the balance sheet of Tune Protect Group Bhd (5230)?
Balance-sheet figures for Tune Protect Group Bhd (as of Sep 23, 2026): return on equity 4.6%. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 5230 from its 52-week high?
Tune Protect Group Bhd trades at 0.2600 MYR, about 22% below its 52-week high of 0.3343 MYR and 11% above the low of 0.2350 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.4900 MYR is for.
Which stocks are comparable to Tune Protect Group Bhd?
From the same area (Financial Services) we also value Allianz SE, Zurich Insurance Group, AXA SA, Assicurazioni Generali S.p.A, 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 Tune Protect Group Bhd stock attractive at the current price?
The data as of Sep 23, 2026: price 0.2600 MYR, calculated fair value 0.4900 MYR (+88%), Quality Score 58/100, from 4 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 5230 calculated?
We run Tune Protect Group Bhd through 4 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 0.4900 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. Tune Protect Group Bhd currently trades 88 % below its own fair value, and the market average says nothing about that. 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 Tune Protect Group Bhd (5230)?
The closing price on Sep 24, 2026 was 0.2600 MYR. Our model-based fair value is 0.4900 MYR, about +88% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tune Protect Group Bhd right now?
The price is below even our cautious bear case (0.3650 MYR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. 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 Tune Protect Group Bhd

How large is the market capitalisation of Tune Protect Group Bhd (5230)?
The market capitalisation of Tune Protect Group Bhd is 196M MYR (≈ $48.1M). 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 Tune Protect Group Bhd (5230)?
The price-to-sales ratio of Tune Protect Group Bhd is 0.58 (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 Tune Protect Group Bhd (5230)?
Earnings per share at Tune Protect Group Bhd are 0.0300 MYR (price ÷ EPS = P/E 8.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tune Protect Group Bhd (5230)?
The dividend yield of Tune Protect Group Bhd is 5.0% (payout 43.3%). 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 Tune Protect Group Bhd (5230)?
The net margin of Tune Protect Group Bhd is 6.7% (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 Tune Protect Group Bhd (5230)?
The return on equity (ROE) of Tune Protect Group Bhd is 4.6% (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 Tune Protect Group Bhd (5230)?
On an EBIT basis the return on assets of Tune Protect Group Bhd is 0.1% (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 Tune Protect Group Bhd (5230)?
The operating margin of Tune Protect Group Bhd is 2.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tune Protect Group Bhd (5230)?
Revenue at Tune Protect Group Bhd is growing −12.8% versus a year earlier (3y avg +9.6%). 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 Tune Protect Group Bhd (5230)?
Earnings per share at Tune Protect Group Bhd are growing −43.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tune Protect Group Bhd (5230) generate?
The free cash flow of Tune Protect Group Bhd is −7.2M 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 cash does Tune Protect Group Bhd (5230) hold?
Tune Protect Group Bhd holds more cash than debt, 19.1M MYR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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