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Johor Plantations Group (5323) Fair Value & Analysis

Consumer Defensive · MY · Market cap 5.0B MYR

JP Johor Plantations Group 5323 · KLSE
Price2.08 MYR
Fair Value2.29 MYR
Upside+10.1%
Quality59/100
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Expensive Growth
Solidly profitable · 18.4% net margin
Moderate debt · generates free cash flow
3.65% dividend yield
Ranks above peers (10/14)
Moderate moat 61/100
Evidence: High Range 1.19 MYR – 3.45 MYR Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 26 days ago

Share price +11.8% over the past month.

A solid business, screening 10% undervalued on our models.

What matters now

  • The model range is unusually wide (1.19 MYR to 3.45 MYR). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Our model range runs from 1.19 MYR (bear) to 3.45 MYR (bull), base 2.29 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 59/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (2 years)

2.10 MYR 0.7818 MYR Fair Value 2.29 MYR Jul 2024 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

25‑month range 0.7818 MYR – 2.10 MYR · fair‑value band 1.19 MYR – 3.45 MYR · the 2.08 MYR price screens below the 2.29 MYR fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Johor Plantations Group (5323) currently trades at 2.08 MYR, while our model-based Fair Value estimate is 2.29 MYR, implying the stock looks roughly 10.1% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Johor Plantations Group generated revenue of 1.7B MYR at a net margin of 20.0%. Revenue grew 5.4% year over year. It earns a return on equity of 11.7%. Net debt stands at 846M MYR. Fundamentals as of Jul 14, 2026

Our scenario range runs from 1.19 MYR (bear case) to 3.45 MYR (bull case); at 2.08 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 near its 52-week high and 86% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 102% fair-value upside, at 10%, 5323 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 0.9600 MYR 1.78 MYR 3.06 MYR 80
Residual Income 1.08 MYR 1.24 MYR 2.25 MYR 76
Rev-Margin DCF 0.8800 MYR 1.71 MYR 2.73 MYR 74
All 24 models by family
DCF Models
FCF DCF 0.9600 MYR 1.84 MYR 3.25 MYR 38
Owner Earnings 0.3500 MYR 0.8100 MYR 1.55 MYR 31
5Y Revenue Exit 0.8800 MYR 1.72 MYR 2.83 MYR 39
5Y EBITDA Exit 1.56 MYR 3.08 MYR 4.94 MYR 41
5Y P/E Exit 1.35 MYR 2.64 MYR 4.09 MYR 38
10Y Revenue Exit 0.8600 MYR 1.64 MYR 2.79 MYR 36
10Y EBITDA Exit 1.33 MYR 2.60 MYR 4.46 MYR 37
10Y P/E Exit 1.19 MYR 2.29 MYR 3.78 MYR 35
Earnings-Based
Graham-Dodd 0.9400 MYR 3.85 MYR 5.25 MYR 54
Lynch FV 0.9700 MYR 1.38 MYR 1.80 MYR 50
PEG = 1.0 0.9700 MYR 1.38 MYR 1.80 MYR 46
EPV 1.11 MYR 1.34 MYR 1.54 MYR 59
Multiples
P/E Multiple 2.07 MYR 2.76 MYR 3.45 MYR 63
P/S Multiple 1.29 MYR 1.72 MYR 2.16 MYR 58
P/B Multiple 1.76 MYR 2.35 MYR 2.93 MYR 55
EV/EBIT 2.38 MYR 3.29 MYR 4.20 MYR 53
EV/EBITDA 2.10 MYR 2.91 MYR 3.73 MYR 54
EV/Revenue 0.8700 MYR 1.39 MYR 1.91 MYR 43
Asset-Based
NCAV (Graham) 0.6000 MYR 0.8000 MYR 1.20 MYR 50
Growth DCF
Growth DCF 0.9600 MYR 1.78 MYR 3.06 MYR 80
Rev-Margin DCF 0.8800 MYR 1.71 MYR 2.73 MYR 74
Economic Profit
Residual Income 1.08 MYR 1.24 MYR 2.25 MYR 76
ROIC Compounder 1.11 MYR 1.47 MYR 2.01 MYR 72
Growth Earnings
Growth-Adj P/E 1.62 MYR 2.32 MYR 3.02 MYR 68

Widest divergence: Multiples (2.35 MYR) versus Asset-Based (0.8000 MYR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.7B MYR
Revenue growth (YoY) +5.4%
Net margin 20.0%
Return on equity 11.7%
Free cash flow 277M MYR FY2025
P/E ratio 15.3
More key figures
Operating margin 24.5%
EPS (TTM) 0.1300 MYR
EPS growth (YoY) -1.2%
Net debt 846M MYR FY2025

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

Quality Score breakdown

Overall quality 59/100

Of which business quality 59 · Market factors (momentum, volatility) 87

Profitability 43
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 34
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 82
Price trend over the last 3–12 months (market factor)
52W Momentum 100
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

Johor Plantations Group Berhad engages in the production of palm oil and palm kernels in Malaysia. It operates through Upstream, Midstream, Downstream, and Trading and Services segments.

Full company description

Johor Plantations Group Berhad engages in the production of palm oil and palm kernels in Malaysia. It operates through Upstream, Midstream, Downstream, and Trading and Services segments. The company also produces and supplies renewable energy, principally biomethane gas; trades in agricultural machinery and parts for plantation needs; and provides seeds and related services, and training and advisory services related to occupational safety and health. In addition, it develops the Integrated Sustainable Palm Oil Complex (ISPOC), which includes a palm oil mill, specialty refinery, renewable energy power plant, kernel crushing plant, and animal feed mill. Johor Plantations Berhad was formerly known as Mahamurni Plantations Sdn Bhd and changed its name to Johor Plantations Group Berhad in February 2023. The company was incorporated in 1978 and is headquartered in Johor Bahru, Malaysia. Johor Plantations Group Berhad operates as a subsidiary of Kulim (Malaysia) Berhad.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Johor Plantations Group reported revenue of 1.7B MYR in FY2025 versus 1.5B MYR in FY2021, a compound +2.7%/yr. Reported net income was 345M MYR in FY2025, compounding +0.0%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.7B MYR
Latest YoY
+13.1%
Avg. growth/yr (3Y)
−0.5%
Avg. growth/yr (5Y)
+11.1%
Revenue +2.7%/yr
FY21 1.5B MYR
FY22 1.8B MYR
FY23 1.3B MYR
FY24 1.5B MYR
FY25 1.7B MYR
Net income +0.0%/yr
FY21 345M MYR
FY22 496M MYR
FY23 167M MYR
FY24 257M MYR
FY25 345M MYR

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Cite: Fair Value Calculator (2026). "Johor Plantations Group Fair Value". https://www.fairvalue-calculator.com/stock/5323

Peer Group

Farm Products · 291 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 59 · Above median
Fair Value upside +10% · Above median
Return on equity (TTM) 11% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 3.7% · Above median
Debt / equity 0.51× · Higher than 75% of peers

Valuation Multiples vs Farm Products median · lower = cheaper

P/E (TTM) 15.3× · Pricier than median
P/B 0.41× · Cheaper than median
P/S (TTM) 0.70× · Pricier than median
P/FCF 4.4× · Pricier than median
EV/EBITDA 3.6× · Cheaper than median

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 47 · sector 26
FUTURE 24 · sector 21
PAST 43 · sector 17
HEALTH 75 · sector 94
DIVIDEND 73 · sector 38

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

Stock Price Fair Value vs Fair Value
Muyuan Foods Group 002714 ¥40.90 ¥48.19 +18%
Wens Foodstuff Group 300498 ¥14.51 ¥12.08 -17%
Mowi ASA MOWI kr 188.40 kr 262.59 +39%
PT Charoen Pokphand Indonesia Tbk, CPIN 3,120 IDR 7,076 IDR +127%
Charoen Pokphand Foods Public Company CPF 22.00 THB 55.71 THB +153%
PT Triputra Agro Persada Tbk TAPG 1,540 IDR 3,105 IDR +102%
PT FAP Agri Tbk FAPA 7,300 IDR 7,463 IDR +2%
PT Japfa Comfeed Indonesia Tbk JPFA 2,070 IDR 7,231 IDR +249%
Thaifoods Group TFGR 10.60 THB 23.53 THB +122%
PT Jhonlin Agro Raya Tbk JARR 1,845 IDR 610.80 IDR -67%

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Frequently asked questions

Is Johor Plantations Group (5323) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 2.29 MYR versus a price of 2.08 MYR, about +10% (undervalued).
What is the fair value of 5323?
Our model-based fair value for Johor Plantations Group is 2.29 MYR (as of Jul 14, 2026), built from audited fundamentals. The current price is 2.08 MYR.
What is the quality score of 5323?
Johor Plantations Group has a Quality Score of 59/100. 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 Johor Plantations Group (5323)?
Johor Plantations Group reported trailing-twelve-month revenue of about 1.7B MYR (latest available figure, as of Jul 14, 2026).
What is the net profit margin of 5323?
The net profit margin of Johor Plantations Group is about 20.0%, meaning it keeps roughly 20.0% 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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