KPJ Healthcare Bhd (5878) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of KPJ Healthcare Bhd MYR 2.92, price MYR 2.69, upside +8.4%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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KPJ Healthcare Berhad, an investment holding company, engages in the operation of specialist hospitals in Malaysia, Thailand, and Australia.
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KPJ Healthcare Berhad, an investment holding company, engages in the operation of specialist hospitals in Malaysia, Thailand, and Australia. It provides pathology and laboratory services; management and engineering maintenance services for specialist hospitals; and medical and consultancy services for eye care, as well as maintenance services for medical equipment. The company also operates a private university college of nursing and allied health; a pharmacy retail outlet; medical service provider; polyclinic; assisted living care, after birth care, and rehabilitation centers; retirement village facilities; pharmacy retail outlet; and a training center, as well as operates and manages an ambulatory care center. In addition, it engages in marketing and distributing medical, pharmaceutical, and consumer healthcare products; provision of healthcare information system and information technology related services; and rental of software and human resource information system; and property holding activities. Further, the company offers human resource, training, building management, sterile, laundry, and central kitchen services. Additionally, it engages in operation of retail, wholesale, online pharmacy, and e-commerce stores. KPJ Healthcare Berhad was founded in 1981 and is based in Kuala Lumpur, Malaysia.
Stock analysis
KPJ Healthcare Bhd (5878) currently trades at 2.69 MYR, while our model-based Fair Value estimate is 2.92 MYR, implying the stock looks roughly 7.7% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2.38 MYR per share, and 5 of the 26 models we run sit above the 2.69 MYR price.
Bear case: the Asset-Based group reads lowest at 0.4200 MYR, and 21 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 1.94 MYR (bear) to 3.64 MYR (bull), the price of 2.69 MYR sits inside 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 61/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
KPJ Healthcare Bhd reported revenue of 4.3B MYR in FY2025 versus 2.6B MYR in FY2021, a compound +12.8%/yr. Reported net income was 366M MYR in FY2025, compounding +63.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 14.0B MYR (≈ $3.4B) · P/E ratio 29.9 · P/S ratio 2.57 · EPS (TTM) 0.0900 MYR · Dividend yield 1.6% · Net margin 8.6% · Return on equity 14.0% · Return on assets (EBIT) 6.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 35% fair-value upside, at 8%, 5878 screens richer than that median.
Fair Value models
Bear 1.94 MYRFair Value 2.92 MYRBull 3.64 MYR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0336 MYR per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.92/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+8.6%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+13.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+12.5%
Start year 2020 (pandemic). Over 10 years: +4.2% a year
Revenue growth 19 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+9.0%
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What shareholders gained per year (last 5 years), in MYR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in MYR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+20.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.6%
Dividend (yield on the price)1.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.28% vs 11%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.12% → 15%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+8.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +6.8% a year for the price and +4.7% for the forecasts.
Price, fair value, quality and upside side by side.
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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.Medical Care Facilities · 258 stocks
Beats the industry median on 10/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside+10% · Above median
Profitability
Return on equity (TTM)14% · Above median
Return on assets6% · Above median
Net margin (TTM)9% · Above median
Operating margin (TTM)13% · Above median
Growth and dividend
Revenue growth9% · Above median
Dividend yield (TTM)1.6% · Below median
Balance sheet
Debt / equity0.47× · Above median
Valuation Multiplesvs Medical Care Facilities median · lower = cheaper
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Cite: Fair Value Calculator (2026). "KPJ Healthcare Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5878
Frequently asked questions
Is KPJ Healthcare Bhd (5878) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2.92 MYR versus a price of 2.69 MYR, about +8% upside (fairly valued).
What is the fair value of 5878?
Our model-based fair value for KPJ Healthcare Bhd is 2.92 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 2.69 MYR.
What is the quality score of 5878?
KPJ Healthcare Bhd has a Quality Score of 61/100. 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 price target for KPJ Healthcare Bhd (5878)?
Our model-based price target is the fair value of 2.92 MYR (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 1.94 MYR, optimistic scenario 3.64 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the KPJ Healthcare Bhd stock forecast for 2026?
Our models put fair value at 2.92 MYR, about +8% upside versus a price of 2.69 MYR (fairly valued). Cautious scenario 1.94 MYR, optimistic scenario 3.64 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of KPJ Healthcare Bhd (5878)?
KPJ Healthcare Bhd reported trailing-twelve-month revenue of about 4.3B MYR (latest available figure, as of Sep 24, 2026).
Does KPJ Healthcare Bhd pay a dividend?
KPJ Healthcare Bhd currently shows a dividend yield of about 1.64% relative to its recent price (as of Sep 24, 2026).
What growth is priced into KPJ Healthcare Bhd (5878)?
For today's price to be fair in a discounted-cash-flow model, KPJ Healthcare Bhd would have to grow free cash flow by +8.9 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5878 use?
Our models discount KPJ Healthcare Bhd at 9.2 %: a base by market capitalisation (large), damped by beta 0.05, country premium for Malaysia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For KPJ Healthcare Bhd that is +8.9 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has KPJ Healthcare Bhd (5878) delivered so far?
Over the past 5 years revenue at KPJ Healthcare Bhd grew +12.5 % a year. The price currently implies +8.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of KPJ Healthcare Bhd (5878) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into KPJ Healthcare Bhd (+8.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of KPJ Healthcare Bhd (5878)?
The free-cash-flow yield on the price is 5.05 %: that much free cash flow KPJ Healthcare Bhd produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of KPJ Healthcare Bhd (5878)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KPJ Healthcare Bhd it is 2.92 MYR per share (as of Sep 24, 2026), against a price of 2.69 MYR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is KPJ Healthcare Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5878 trades below its calculated fair value: price 2.69 MYR, fair value 2.92 MYR, a gap of about +8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 5878?
No. The price is what the market pays today (2.69 MYR); the fair value is what the company's own numbers justify (2.92 MYR). For KPJ Healthcare Bhd the two are 0.2250 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is KPJ Healthcare Bhd worth?
The market values KPJ Healthcare Bhd at about 14.0B MYR (market capitalisation, as of Sep 24, 2026). Per share that is 2.69 MYR; our models calculate a fair value of 2.92 MYR per share.
What do the bullish and bearish scenarios say about 5878?
Our models span a range for KPJ Healthcare Bhd: cautious scenario 1.94 MYR, base 2.92 MYR, optimistic 3.64 MYR per share (as of Sep 24, 2026, price 2.69 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5878?
KPJ Healthcare Bhd trades at a price-to-earnings ratio of 29.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2.92 MYR is built from several models across several years. Other multiples: PEG 3.3, P/B 1.3, P/S 0.8, EV/EBITDA 3.9.
What is the PEG ratio of 5878?
The PEG ratio of KPJ Healthcare Bhd is 3.32 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of KPJ Healthcare Bhd (5878)?
Balance-sheet figures for KPJ Healthcare Bhd (as of Sep 24, 2026): return on equity 14.0%, debt of 0.47 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 5878 from its 52-week high?
KPJ Healthcare Bhd trades at 2.69 MYR, about 23% below its 52-week high of 3.51 MYR and 8% above the low of 2.49 MYR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2.92 MYR is for.
Which stocks are comparable to KPJ Healthcare Bhd?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Dr. Sulaiman Al Habib Medical Services Group, Tenet Healthcare Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is KPJ Healthcare Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 2.69 MYR, calculated fair value 2.92 MYR (+8%), Quality Score 61/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 5878 calculated?
We run KPJ Healthcare Bhd through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 2.92 MYR, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. KPJ Healthcare Bhd currently trades 8 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of KPJ Healthcare Bhd (5878)?
The closing price on Sep 23, 2026 was 2.69 MYR. Our model-based fair value is 2.92 MYR, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KPJ Healthcare Bhd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (1.94 MYR to 3.64 MYR) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of KPJ Healthcare Bhd (5878) come from?
Earnings per share at KPJ Healthcare Bhd grew +10.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.3 %, EBIT margin +7.8 %, tax rate +0.2 %, residual (interest, one-offs) −2.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of KPJ Healthcare Bhd
How large is the market capitalisation of KPJ Healthcare Bhd (5878)?
The market capitalisation of KPJ Healthcare Bhd is 14.0B MYR (≈ $3.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of KPJ Healthcare Bhd (5878)?
The price-to-sales ratio of KPJ Healthcare Bhd is 2.57 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of KPJ Healthcare Bhd (5878)?
Earnings per share at KPJ Healthcare Bhd are 0.0900 MYR (price ÷ EPS = P/E 29.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of KPJ Healthcare Bhd (5878)?
The dividend yield of KPJ Healthcare Bhd is 1.6% (payout 48.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of KPJ Healthcare Bhd (5878)?
The net margin of KPJ Healthcare Bhd is 8.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of KPJ Healthcare Bhd (5878)?
The return on equity (ROE) of KPJ Healthcare Bhd is 14.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of KPJ Healthcare Bhd (5878)?
On an EBIT basis the return on assets of KPJ Healthcare Bhd is 6.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of KPJ Healthcare Bhd (5878)?
The operating margin of KPJ Healthcare Bhd is 13.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KPJ Healthcare Bhd (5878)?
Revenue at KPJ Healthcare Bhd is growing +8.6% versus a year earlier (3y avg +13.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at KPJ Healthcare Bhd (5878)?
Earnings per share at KPJ Healthcare Bhd are growing +20.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does KPJ Healthcare Bhd (5878) carry?
The net debt of KPJ Healthcare Bhd is 3.0B MYR (fiscal year 2025, ≈ 5.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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