Leon Fuat Bhd (5232) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Leon Fuat Bhd MYR 0.66, price MYR 0.37, upside +78.4%, quality 52 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 0.3150 MYR – 1.05 MYR · fair‑value band 0.4400 MYR – 0.8300 MYR · the 0.3700 MYR price screens below the 0.6600 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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Leon Fuat Berhad, an investment holding company, processes and trades in steel products in Malaysia. The company offers flat steel products, such as carbon and stainless-steel coils, sheets, plates, welded tubes and pipes, and welded rectangular and square sections, as well as alloy steel plates.
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Leon Fuat Berhad, an investment holding company, processes and trades in steel products in Malaysia. The company offers flat steel products, such as carbon and stainless-steel coils, sheets, plates, welded tubes and pipes, and welded rectangular and square sections, as well as alloy steel plates. It also provides long steel products, consists of carbon and stainless-steel bars and rods, angles and channels, sections, shafts, and seamless tubes and pipes, as well as alloy steel bars. In addition, the company offers value added services, such as cutting, levelling, shearing, profiling, bending, and finishing, as well as engages in production of expanded metal. It serves manufacturers of metal products and components; and fabricators of machinery, equipment and metal structure, building, construction, and infrastructure industries, as well as hardware wholesalers and retailers. The company was founded in 1972 and is based in Shah Alam, Malaysia. Leon Fuat Berhad is a subsidiary of Leon Fuat Holdings Sdn. Bhd.
Stock analysis
Leon Fuat Bhd (5232) currently trades at 0.3700 MYR, while our model-based Fair Value estimate is 0.6600 MYR, implying the stock looks roughly 43.9% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 1.51 MYR per share, and 22 of the 25 models we run sit above the 0.3700 MYR price.
Bear case: the Dividend Discount group reads lowest at 0.1300 MYR, and 3 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.4400 MYR (bear) to 0.8300 MYR (bull), the price of 0.3700 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 52/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Leon Fuat Bhd reported revenue of 907M MYR in FY2025 versus 887M MYR in FY2021, a compound +0.6%/yr. Reported net income was 11.5M MYR in FY2025, compounding −46.1%/yr from FY2021.
Key figures
Market cap 126M MYR (≈ $31.0M) · P/E ratio 9.3 · P/S ratio 0.12 · EPS (TTM) 0.0400 MYR · Dividend yield 2.7% · Net margin 1.3% · Return on equity 2.4% · Return on assets (EBIT) 7.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 17% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −45% fair-value upside, at 78%, 5232 screens cheaper than that median.
Fair Value models
Bear 0.4400 MYRFair Value 0.6600 MYRBull 0.8300 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 (0.0220 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−2.3%
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.
−4.0%
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.
+9.0%
Start year 2020 (pandemic). Over 10 years: +6.0% 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.
+5.8%
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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. Basis: EBIT basis. 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.
−1.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.4%
Dividend (yield on the price)2.7%
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.−18% vs −9%, slowing
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.8% → 5%
Start year 2020 (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).
+16.4%
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 +14.2% 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.Steel · 417 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside+78% · Top 25%
Profitability
Return on equity (TTM)2% · Below median
Return on assets2% · Above median
Net margin (TTM)2% · Below median
Operating margin (TTM)5% · Above median
Growth and dividend
Revenue growth1% · Above median
Dividend yield (TTM)2.7% · Above median
Balance sheet
Debt / equity0.12× · Above median
Valuation Multiplesvs Steel median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Leon Fuat Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5232
Frequently asked questions
Is Leon Fuat Bhd (5232) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.6600 MYR versus a price of 0.3700 MYR, about +78% upside (undervalued).
What is the fair value of 5232?
Our model-based fair value for Leon Fuat Bhd is 0.6600 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.3700 MYR.
What is the quality score of 5232?
Leon Fuat Bhd has a Quality Score of 52/100. 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 Leon Fuat Bhd (5232)?
Our model-based price target is the fair value of 0.6600 MYR (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 0.4400 MYR, optimistic scenario 0.8300 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Leon Fuat Bhd stock forecast for 2026?
Our models put fair value at 0.6600 MYR, about +78% upside versus a price of 0.3700 MYR (undervalued). Cautious scenario 0.4400 MYR, optimistic scenario 0.8300 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Leon Fuat Bhd (5232)?
Leon Fuat Bhd reported trailing-twelve-month revenue of about 910M MYR (latest available figure, as of Sep 24, 2026).
Does Leon Fuat Bhd pay a dividend?
Leon Fuat Bhd currently shows a dividend yield of about 2.70% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Leon Fuat Bhd (5232)?
For today's price to be fair in a discounted-cash-flow model, Leon Fuat Bhd would have to grow free cash flow by +16.4 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5232 use?
Our models discount Leon Fuat Bhd at 9.7 %: a base by market capitalisation (nano), damped by beta 0.32, 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 Leon Fuat Bhd that is +16.4 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Leon Fuat Bhd (5232) delivered so far?
Over the past 5 years revenue at Leon Fuat Bhd grew +9.0 % a year. The price currently implies +16.4 % 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 Leon Fuat Bhd (5232) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Leon Fuat Bhd (+16.4 % 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 Leon Fuat Bhd (5232)?
The free-cash-flow yield on the price is 15.66 %: that much free cash flow Leon Fuat Bhd produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Leon Fuat Bhd (5232)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Leon Fuat Bhd it is 0.6600 MYR per share (as of Sep 24, 2026), against a price of 0.3700 MYR. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Leon Fuat Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5232 trades below its calculated fair value: price 0.3700 MYR, fair value 0.6600 MYR, a gap of about +78% (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 5232?
No. The price is what the market pays today (0.3700 MYR); the fair value is what the company's own numbers justify (0.6600 MYR). For Leon Fuat Bhd the two are 0.2900 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Leon Fuat Bhd worth?
The market values Leon Fuat Bhd at about 126M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 0.3700 MYR; our models calculate a fair value of 0.6600 MYR per share.
What do the bullish and bearish scenarios say about 5232?
Our models span a range for Leon Fuat Bhd: cautious scenario 0.4400 MYR, base 0.6600 MYR, optimistic 0.8300 MYR per share (as of Sep 24, 2026, price 0.3700 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5232?
Leon Fuat Bhd trades at a price-to-earnings ratio of 9.3 (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 0.6600 MYR is built from several models across several years. Other multiples: P/B 0.1, P/S 0.0, EV/EBITDA 1.3.
How solid is the balance sheet of Leon Fuat Bhd (5232)?
Balance-sheet figures for Leon Fuat Bhd (as of Sep 24, 2026): return on equity 2.4%, debt of 0.12 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 5232 from its 52-week high?
Leon Fuat Bhd trades at 0.3700 MYR, about 8% below its 52-week high of 0.4000 MYR and 17% above the low of 0.3150 MYR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 0.6600 MYR is for.
Which stocks are comparable to Leon Fuat Bhd?
From the same area (Basic Materials) we also value Nucor Corporation, Steel Dynamics, Inc, JSW Steel Limited, Tata Steel Limited, 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 Leon Fuat Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 0.3700 MYR, calculated fair value 0.6600 MYR (+78%), Quality Score 52/100, from 25 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 5232 calculated?
We run Leon Fuat Bhd through 25 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 0.6600 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 13.0 % above its aggregate fair value. Leon Fuat Bhd currently trades 78 % 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 Leon Fuat Bhd (5232)?
The closing price on Sep 23, 2026 was 0.3700 MYR. Our model-based fair value is 0.6600 MYR, about +78% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Leon Fuat Bhd right now?
The price is below even our cautious bear case (0.4400 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 (52/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (0.4400 MYR to 0.8300 MYR) leaves room in how you read the outcome.
Key figures of Leon Fuat Bhd
How large is the market capitalisation of Leon Fuat Bhd (5232)?
The market capitalisation of Leon Fuat Bhd is 126M MYR (≈ $31.0M). 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 Leon Fuat Bhd (5232)?
The price-to-sales ratio of Leon Fuat Bhd is 0.12 (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 Leon Fuat Bhd (5232)?
Earnings per share at Leon Fuat Bhd are 0.0400 MYR (price ÷ EPS = P/E 9.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Leon Fuat Bhd (5232)?
The dividend yield of Leon Fuat Bhd is 2.7% (payout 25.0%). 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 Leon Fuat Bhd (5232)?
The net margin of Leon Fuat Bhd is 1.3% (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 Leon Fuat Bhd (5232)?
The return on equity (ROE) of Leon Fuat Bhd is 2.4% (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 Leon Fuat Bhd (5232)?
On an EBIT basis the return on assets of Leon Fuat Bhd is 7.2% (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 Leon Fuat Bhd (5232)?
The operating margin of Leon Fuat Bhd is 5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Leon Fuat Bhd (5232)?
Revenue at Leon Fuat Bhd is growing +1.1% versus a year earlier (3y avg −4.0%). 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 Leon Fuat Bhd (5232)?
Earnings per share at Leon Fuat Bhd are growing +190% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Leon Fuat Bhd (5232) carry?
The net debt of Leon Fuat Bhd is 453M MYR (fiscal year 2025, ≈ 23.0 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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