ITMAX System Berhad (5309) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of ITMAX System Berhad stock MYR 2.52, price MYR 4.29, that is 41.3% below the price, quality 60 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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ITMAX System Berhad
5309 · KLSEOur calculation puts a fair price 41% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
47‑month range 1.32 MYR – 5.09 MYR · fair‑value band 1.89 MYR – 3.16 MYR · the 4.29 MYR price screens above the 2.52 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Company profile
ITMAX System Berhad, an investment holding company, engages in the supply, installation, and provision of public space networked systems in Malaysia. The company offers smart video surveillance, smart parking, smart traffic management, as well as smart street lighting and communication networks.
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It also engages in the business of green and sustainable technology solutions; and trading and fabrication of information technology products and services.
In addition, the company is involved in the software development and integration business; development and integration of parking and enforcement software, applications, and solutions; and development and integration of medical software, applications, and solutions.
Further, it provides leased and managed services of video surveillance and analytics systems, as well as owns and operates fibre optics communications network and related equipment, telecommunication towers and monopoles, and bandwidth services; supply, installation, and maintenance services for networked systems and solutions; and digital infrastructure solutions.
The company was incorporated in 2001 and is headquartered in Kuala Lumpur, Malaysia. ITMAX System Berhad operates as a subsidiary of Sena Holdings Sdn Bhd.
Stock analysis
ITMAX System Berhad (5309) currently trades at 4.29 MYR, while our model-based Fair Value estimate is 2.52 MYR, 41% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 4.56 MYR per share, and 1 of the 16 models we run sit above the 4.29 MYR price.
Bear case: the Economic Profit group reads lowest at 1.12 MYR, and 15 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: 1.89 MYR (bear) to 3.16 MYR (bull), the price of 4.29 MYR sits above 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 60/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
ITMAX System Berhad reported revenue of 247M MYR in FY2025 versus 79.8M MYR in FY2021, a compound +32.7%/yr. Reported net income was 93.5M MYR in FY2025, compounding +33.7%/yr from FY2021.
Key figures
Market cap 4.6B MYR (≈ $1.1B) Small · P/E ratio 42.9 · P/S ratio 16.7 · EPS (TTM) 0.1000 MYR · Dividend yield 0.5% · Net margin 37.8% · Return on equity 23.0% · Return on assets (EBIT) 20.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 85 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 1% fair-value upside, at −41%, 5309 screens richer than that median.
Fair Value models
All 16 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
5309 screens overvalued: fair value 41% below the price. Compare with Allegion plc →
Compare ITMAX System Berhad with another stock
Price, fair value, quality and upside side by side.
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.Security & Protection Services · 115 stocks
Valuation Multiplesvs Security & Protection Services median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Information Technology sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Net margin by industry
- P/B ratio by industry
- Piotroski F-Score screener with fair value
- Valuation of the Malaysia market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Security & Protection Services stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Zhejiang Dahua Technology Co 002236 | ¥14.46 | ¥32.12 | +122% | vs 5309 |
| ADT Inc ADT | $9.93 | $10.67 | +7% | vs 5309 |
| The Brink's Company BCO | $114.57 | $121.16 | +6% | vs 5309 |
| Brady Corporation BRC | $79.92 | $84.37 | +6% | vs 5309 |
| S-1 Corporation 012750 | 98,600 KRW | 99,629 KRW | +1% | vs 5309 |
| Loomis AB LOOMIS | kr 513.50 | kr 496.43 | −3% | vs 5309 |
| MSA Safety Incorporated MSA | $173.07 | $121.81 | −30% | vs 5309 |
| Allegion plc ALLE | $190.52 | $129.15 | −32% | vs 5309 |
| CoreCivic, Inc CXW | $29.83 | $18.76 | −37% | vs 5309 |
| The GEO Group GEO | $30.14 | $13.08 | −57% | vs 5309 |
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Frequently asked questions
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Key figures of ITMAX System Berhad
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