IGB Bhd (5606) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of IGB Bhd MYR 4.77, price MYR 2.28, upside +109.2%, quality 73 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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IGB Bhd
5606 · KLSEClearly undervaluedStrong Fair Value upside, but quality is only moderate.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range 0.5700 MYR – 2.57 MYR · fair‑value band 3.07 MYR – 6.47 MYR · the 2.28 MYR price screens below the 4.77 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
IGB Berhad, together with its subsidiaries, engages in the property development, investment, and management businesses in Malaysia, Asia, Australia, the United States, and the United Kingdom. The company operates through four segments: Property Investment " Retail; Property Investment " Commercial; Property Development; and Hotel.
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IGB Berhad, together with its subsidiaries, engages in the property development, investment, and management businesses in Malaysia, Asia, Australia, the United States, and the United Kingdom. The company operates through four segments: Property Investment " Retail; Property Investment " Commercial; Property Development; and Hotel. It engages in the rental of retail malls and office buildings; development and sale of condominiums, bungalows, linked houses, shop lots, and office suites; operation of hotels; and project management services. The company is also involved in building construction, civil engineering, planning, and other related services; operation of international school for students from early years to grade 12; wastewater treatment services; provision of post-operative and hospitalization care, as well as retirement living; co-living spaces; management and maintenance of residential developments, as well as commercial properties; and operation of exhibition centers that offer space for various events, exhibitions, seminars, concerts, and consumer fairs. In addition, it engages in integrated healthcare and wellness; provision of money lending services; aquaculture; research and development of automated facilities management solution system; real estate investment trust management; consultancy services; special purpose vehicle to raise financing; food and beverage operations; general and building materials trading; selling and distribution of utilities; information and communication technology services; management services; and design, development, operation, ownership maintenance, and management of mobile related applications. The company was formerly known as Goldis Berhad and changed its name to IGB Berhad in March 2018. IGB Berhad was founded in 1964 and is based in Kuala Lumpur, Malaysia.
Stock analysis
IGB Bhd (5606) currently trades at 2.28 MYR, while our model-based Fair Value estimate is 4.77 MYR, implying the stock looks roughly 52.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 5.35 MYR per share, and 12 of the 14 models we run sit above the 2.28 MYR price.
Bear case: the Asset-Based group reads lowest at 1.50 MYR, and 2 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 3.07 MYR (bear) to 6.47 MYR (bull), the price of 2.28 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 73/100 (solid quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
IGB Bhd reported revenue of 1.9B MYR in FY2025 versus 930M MYR in FY2021, a compound +19.7%/yr. Reported net income was 361M MYR in FY2025, compounding +22.2%/yr from FY2021.
Key figures
Market cap 4.6B MYR (≈ $1.1B) · P/E ratio 5.8 · P/S ratio 1.10 · EPS (TTM) 0.3900 MYR · Net margin 18.9% · Return on equity 21.2% · Return on assets (EBIT) 7.3% · Operating margin 44.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 109%, 5606 screens cheaper than that median.
Fair Value models
All 14 models by family
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Set up alert →Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 62
Revenue & earnings trend
Growth Forecast
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Compare IGB Bhd 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.Real Estate Services · 547 stocks
Valuation Multiplesvs Real Estate Services median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Real Estate sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Real Estate
- 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 Real Estate Services stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CBRE Group CBRE | $141.05 | $89.43 | −37% |
| Vonovia SE VNA | €17.37 | €36.67 | +111% |
| Cellnex Telecom, S.A CLNX | €25.33 | €23.78 | −6% |
| KE Holdings 2423 | HK$42.78 | HK$17.18 | −60% |
| Jones Lang LaSalle Incorporated JLL | $335.36 | $530.17 | +58% |
| Swire Properties Limited 1972 | HK$24.40 | HK$13.50 | −45% |
| CoStar Group CSGP | $28.77 | $6.17 | −79% |
| China Resources Mixc Lifestyle Services Limited 1209 | HK$37.44 | HK$56.43 | +51% |
| CapitaLand Investment Limited 9CI | 2.60 SGD | 0.5700 SGD | −78% |
| Compass, Inc COMP | $9.67 | $5.20 | −46% |
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Key figures of IGB Bhd
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