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KLCC Property Holdings (5235SS) Fair Value & Analysis

Real Estate · MY · Market cap 16.0B MYR

KP KLCC Property Holdings 5235SS · KLSE
Price8.72 MYR
Fair Value6.91 MYR
Upside-20.8%
Quality65/100
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Healthy Growth
Highly profitable · 73.0% net margin
Low debt · generates free cash flow
5.30% dividend yield
Mixed vs. peers (8/15)
Wide moat 68/100
Evidence: High Range 5.18 MYR – 8.64 MYR Share as image

Fair value as of: Jul 14, 2026

From 16 valuation models · updated 26 days ago

Share price −2.0% over the past month.

A solid business, but screening 21% overvalued on our models.

What matters now

  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • 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)

9.52 MYR 5.29 MYR Fair Value 6.91 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 5.29 MYR – 9.52 MYR · fair‑value band 5.18 MYR – 8.64 MYR · the 8.72 MYR price screens above the 6.91 MYR fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

KLCC Property Holdings (5235SS) currently trades at 8.72 MYR, while our model-based Fair Value estimate is 6.91 MYR, implying the stock looks roughly 20.8% overvalued today. The Quality Score stands at 65/100 (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, KLCC Property Holdings generated revenue of 1.8B MYR at a net margin of 73.0%. Revenue grew 1.3% year over year. It earns a return on equity of 9.3%. Net debt stands at 2.8B MYR. Fundamentals as of Jul 14, 2026

Our scenario range runs from 5.18 MYR (bear case) to 8.64 MYR (bull case); at 8.72 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 7% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 1% fair-value upside, at -21%, 5235SS screens richer 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 4.60 MYR 6.93 MYR 10.09 MYR 80
Residual Income 6.05 MYR 6.15 MYR 5.97 MYR 76
Rev-Margin DCF 3.62 MYR 6.02 MYR 8.41 MYR 74
All 16 models by family
DCF Models
FCF DCF 4.43 MYR 6.93 MYR 10.47 MYR 38
5Y Revenue Exit 3.62 MYR 5.98 MYR 8.85 MYR 39
5Y EBITDA Exit 5.14 MYR 8.67 MYR 12.60 MYR 41
10Y Revenue Exit 3.74 MYR 5.89 MYR 8.52 MYR 36
10Y EBITDA Exit 4.82 MYR 7.71 MYR 11.24 MYR 37
Dividend Discount
Gordon GGM 1.43 MYR 2.40 MYR 3.55 MYR 70
DDM Multi-Stage 1.43 MYR 2.11 MYR 2.86 MYR 61
Multiples
P/S Multiple 4.70 MYR 6.26 MYR 7.83 MYR 58
P/B Multiple 5.18 MYR 6.91 MYR 8.64 MYR 55
EV/EBIT 8.58 MYR 11.86 MYR 15.14 MYR 53
EV/EBITDA 6.53 MYR 9.12 MYR 11.72 MYR 54
EV/Revenue 3.46 MYR 5.48 MYR 7.51 MYR 43
Asset-Based
NCAV (Graham) 3.92 MYR 5.25 MYR 7.83 MYR 50
Growth DCF
Growth DCF 4.60 MYR 6.93 MYR 10.09 MYR 80
Rev-Margin DCF 3.62 MYR 6.02 MYR 8.41 MYR 74
Economic Profit
Residual Income 6.05 MYR 6.15 MYR 5.97 MYR 76

Widest divergence: DCF Models (6.93 MYR) versus Dividend Discount (2.11 MYR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.8B MYR
Revenue growth (YoY) +1.3%
Net margin 73.0%
Return on equity 9.3%
Free cash flow 968M MYR FY2025
P/E ratio 21.8
More key figures
Operating margin 64.6%
EPS (TTM) 0.4100 MYR
Dividend yield 5.3%
EPS growth (YoY) +1.3%
Net debt 2.8B MYR FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 63 · Market factors (momentum, volatility) 59

Profitability 35
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 90
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 99
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 43
Distance to the 52-week high (market factor)
Net Issuance 82
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

KLCC Property Holdings Berhad (KLCCP) and KLCC Real Estate Investment Trust (KLCC REIT), collectively known as KLCCP Stapled Group is Malaysia's largest self-managed stapled security that invests, develops, owns, and manages a stable of iconic and quality assets.

Full company description

KLCC Property Holdings Berhad (KLCCP) and KLCC Real Estate Investment Trust (KLCC REIT), collectively known as KLCCP Stapled Group is Malaysia's largest self-managed stapled security that invests, develops, owns, and manages a stable of iconic and quality assets. KLCCP Stapled Group became the first ever Shariah compliant stapled structure in Malaysia upon the listing of KLCC Stapled Securities (KLCCSS) on 9 May 2013 and trades under the REIT sector of the index as a single price quotation. KLCCP Stapled Group's core business is in property investment and development, and provision of management services. The Group owns iconic prime assets, namely the PETRONAS Twin Towers, Menara ExxonMobil, and Menara 3 PETRONAS under KLCC REIT and Suria KLCC, the premier shopping mall, Mandarin Oriental, Kuala Lumpur hotel and a vacant land (Lot D1) under KLCCP. KLCCP also has a 33% stake in Menara Maxis. KLCCP Stapled Group redefines excellence in real estate. With decades of experience building the nation's iconic landmarks, it has elevated industry standards and expectations, reinforcing its commitment to enriching lives and building a more sustainable future. KLCC Property Holdings Berhad was incorporated in February 7th, 2004 in Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KLCC Property Holdings reported revenue of 1.7B MYR in FY2025 versus 1.2B MYR in FY2021, a compound +10.4%/yr. Reported net income was 734M MYR in FY2025, compounding +10.3%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.7B MYR
Latest YoY
+1.7%
Avg. growth/yr (3Y)
+6.0%
Avg. growth/yr (5Y)
+7.0%
Avg. growth/yr (21Y)
+5.2%
Revenue +10.4%/yr
FY21 1.2B MYR
FY22 1.5B MYR
FY23 1.6B MYR
FY24 1.7B MYR
FY25 1.7B MYR
Net income +10.3%/yr
FY21 496M MYR
FY22 783M MYR
FY23 397M MYR
FY24 498M MYR
FY25 734M MYR

5235SS screens 21% overvalued. Compare with Goodman Group →

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Cite: Fair Value Calculator (2026). "KLCC Property Holdings Fair Value". https://www.fairvalue-calculator.com/stock/5235SS

Peer Group

REIT - Diversified · 165 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 65 · Top 25%
Fair Value upside −21% · Below median
Return on equity (TTM) 9% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 73% · Top 25%
Operating margin (TTM) 65% · Above median
Revenue growth 1% · Below median
Dividend yield (TTM) 5.3% · Above median
Debt / equity 0.27× · Lower than 75% of peers

Valuation Multiples vs REIT - Diversified median · lower = cheaper

P/E (TTM) 21.7× · Pricier than 75% of peers
P/B 1.13× · Pricier than 75% of peers
P/S (TTM) 9.12× · Pricier than 75% of peers
P/FCF 4.1× · Cheaper than median
EV/EBITDA 16.4× · Pricier than median
PEG 4.20× · Pricier 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 6 · sector 13
FUTURE 7 · sector 13
PAST 37 · sector 20
HEALTH 87 · sector 72
DIVIDEND 100 · sector 97

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 - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Goodman Group GMG A$29.11 A$7.37 -75%
VICI Properties Inc VICI $26.73 $41.74 +56%
W. P. Carey Inc WPC $76.69 $35.59 -54%
Charter Hall Group CHC A$21.90 A$11.46 -48%
Fibra Uno FUNO11 31.10 MXN 63.56 MXN +104%
COV COV €52.55 €62.39 +19%
The GPT Group GPT A$4.89 A$3.49 -29%
Mirvac Group MGR A$1.70 A$0.5700 -66%
CRRUN CRRUN C$17.65 C$17.89 +1%
Fibra Danhos DANHOS13 28.26 MXN 49.89 MXN +77%

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Frequently asked questions

Is KLCC Property Holdings (5235SS) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 6.91 MYR versus a price of 8.72 MYR, about −21% (overvalued).
What is the fair value of 5235SS?
Our model-based fair value for KLCC Property Holdings is 6.91 MYR (as of Jul 14, 2026), built from audited fundamentals. The current price is 8.72 MYR.
What is the quality score of 5235SS?
KLCC Property Holdings has a Quality Score of 65/100. 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 KLCC Property Holdings (5235SS)?
KLCC Property Holdings reported trailing-twelve-month revenue of about 1.8B MYR (latest available figure, as of Jul 14, 2026).
What is the net profit margin of 5235SS?
The net profit margin of KLCC Property Holdings is about 73.0%, meaning it keeps roughly 73.0% of revenue as net income. Based on the latest reported figures.
Does KLCC Property Holdings pay a dividend?
KLCC Property Holdings currently shows a dividend yield of about 5.27% relative to its recent price (as of Jul 14, 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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