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Azam Jaya Berhad, an investment holding company, (5329) Fair Value & Analysis

Industrials · MY · Market cap 500M MYR

AJ Azam Jaya Berhad, an investment holding company, 5329 · KLSE
Price0.9900 MYR
Fair Value0.4000 MYR
Upside-59.6%
Quality41/100
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Expensive Growth
Thin margins · 5.5% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/14)
Narrow moat 33/100
Evidence: High Range 0.2800 MYR – 0.4900 MYR Share as image

Fair value as of: Jul 18, 2026

From 23 valuation models · updated 23 days ago

Share price −1.0% over the past month.

Below-average quality, and screening another 60% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.4900 MYR). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (21 months)

1.25 MYR 0.7914 MYR Fair Value 0.4000 MYR Nov 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

21‑month range 0.7914 MYR – 1.25 MYR · fair‑value band 0.2800 MYR – 0.4900 MYR · the 0.9900 MYR price screens above the 0.4000 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Azam Jaya Berhad, an investment holding company, (5329) currently trades at 0.9900 MYR, while our model-based Fair Value estimate is 0.4000 MYR, implying the stock looks roughly 59.6% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Industrials 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, Azam Jaya Berhad, an investment holding company, generated revenue of 213M MYR at a net margin of 5.5%. Revenue grew 7.4% year over year. It earns a return on equity of 7.1%. Net debt stands at 134M MYR. Fundamentals as of Jul 18, 2026

Our scenario range runs from 0.2800 MYR (bear case) to 0.4900 MYR (bull case); at 0.9900 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 17% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -60%, 5329 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 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
Highest evidence
Growth DCF 0.0100 MYR 0.0200 MYR 0.0300 MYR 80
Residual Income 0.2600 MYR 0.2700 MYR 0.2700 MYR 76
ROIC Compounder 0.3700 MYR 0.4300 MYR 0.4900 MYR 72
All 23 models by family
DCF Models
FCF DCF 0.0100 MYR 0.0200 MYR 0.0300 MYR 38
Owner Earnings 0.3400 MYR 0.4500 MYR 0.6300 MYR 31
5Y Revenue Exit 0.2700 MYR 0.4700 MYR 0.7500 MYR 39
5Y EBITDA Exit 0.4300 MYR 0.7500 MYR 1.17 MYR 41
5Y P/E Exit 0.1900 MYR 0.3300 MYR 0.4900 MYR 38
10Y Revenue Exit 0.1400 MYR 0.2700 MYR 0.4100 MYR 36
10Y EBITDA Exit 0.2400 MYR 0.4300 MYR 0.6300 MYR 37
10Y P/E Exit 0.1100 MYR 0.1900 MYR 0.2700 MYR 35
Earnings-Based
Graham-Dodd 0.1700 MYR 0.2100 MYR 0.2400 MYR 54
EPV 0.3700 MYR 0.4200 MYR 0.4600 MYR 59
Dividend Discount
Gordon GGM 0.0400 MYR 0.0400 MYR 0.0500 MYR 70
DDM Multi-Stage 0.0400 MYR 0.0500 MYR 0.0600 MYR 61
Multiples
P/E Multiple 0.4000 MYR 0.5300 MYR 0.6600 MYR 63
P/S Multiple 0.3200 MYR 0.4300 MYR 0.5400 MYR 58
P/B Multiple 0.3200 MYR 0.4300 MYR 0.5400 MYR 55
EV/EBIT 0.7600 MYR 1.01 MYR 1.27 MYR 53
EV/EBITDA 0.8900 MYR 1.19 MYR 1.50 MYR 54
EV/Revenue 0.5100 MYR 0.7400 MYR 0.9600 MYR 43
Asset-Based
NCAV (Graham) 0.1700 MYR 0.2300 MYR 0.3400 MYR 50
Growth DCF
Growth DCF 0.0100 MYR 0.0200 MYR 0.0300 MYR 80
Economic Profit
Residual Income 0.2600 MYR 0.2700 MYR 0.2700 MYR 76
ROIC Compounder 0.3700 MYR 0.4300 MYR 0.4900 MYR 72
Growth Earnings
Growth-Adj P/E 0.2800 MYR 0.4000 MYR 0.5200 MYR 68

Widest divergence: Multiples (0.5300 MYR) versus Growth DCF (0.0200 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 213M MYR
Revenue growth (YoY) +7.4%
Net margin 5.5%
Return on equity 7.1%
Free cash flow 1.6M MYR FY2025
P/E ratio 50.0
More key figures
Operating margin 2.8%
EPS (TTM) 0.0200 MYR
EPS growth (YoY) +1,255%
Net debt 134M MYR FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 40 · Market factors (momentum, volatility) 48

Profitability 32
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 15
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 28
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

Azam Jaya Berhad, an investment holding company, provides construction services in Malaysia. It specializes in the construction of road infrastructure, including roads, highways, bridges, flyovers, and tunnels. The company also constructs motorways, streets, roads, and other vehicular and pedestrian ways.

Full company description

Azam Jaya Berhad, an investment holding company, provides construction services in Malaysia. It specializes in the construction of road infrastructure, including roads, highways, bridges, flyovers, and tunnels. The company also constructs motorways, streets, roads, and other vehicular and pedestrian ways. The company was founded in 1992 and is based in Kuala Lumpur, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Azam Jaya Berhad, an investment holding company, reported revenue of 209M MYR in FY2025 versus 231M MYR in FY2021, a compound −2.6%/yr. Reported net income was 12.6M MYR in FY2025, compounding −22.0%/yr from FY2021.

Growth Quality 51/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
209M MYR
Avg. growth/yr (3Y) 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.
+5.9%
Revenue −2.6%/yr
FY21 231M MYR
FY22 297M MYR
FY23 281M MYR
FY24 275M MYR
FY25 209M MYR
Net income −22.0%/yr
FY21 34.1M MYR
FY22 31.7M MYR
FY23 26.0M MYR
FY24 12.6M MYR
FY25 12.6M MYR

5329 screens 60% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "Azam Jaya Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/5329

Peer Group

Engineering & Construction · 839 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 41 · Below median
Fair Value upside −60% · Bottom 25%
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 3% · Below median
Revenue growth 7% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.09× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 50.0× · Pricier than 75% of peers
P/B 0.71× · Cheaper than median
P/S (TTM) 0.58× · Cheaper than median
P/FCF 75.8× · Pricier than 75% of peers
EV/EBITDA 3.5× · Cheaper 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 0 · sector 16
FUTURE 37 · sector 17
PAST 28 · sector 26
HEALTH 96 · sector 94
DIVIDEND 0 · sector 33

VALUE 0: the price sits above our fair-value range.

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Azam Jaya Berhad, an investment holding company, (5329) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 0.4000 MYR versus a price of 0.9900 MYR, about −60% (overvalued).
What is the fair value of 5329?
Our model-based fair value for Azam Jaya Berhad, an investment holding company, is 0.4000 MYR (as of Jul 18, 2026), built from audited fundamentals. The current price is 0.9900 MYR.
What is the quality score of 5329?
Azam Jaya Berhad, an investment holding company, has a Quality Score of 41/100. 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 Azam Jaya Berhad, an investment holding company, (5329)?
Azam Jaya Berhad, an investment holding company, reported trailing-twelve-month revenue of about 213M MYR (latest available figure, as of Jul 18, 2026).
What is the net profit margin of 5329?
The net profit margin of Azam Jaya Berhad, an investment holding company, is about 5.5%, meaning it keeps roughly 5.5% 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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