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Amway (Malaysia) Holdings (6351) Fair Value & Analysis

Consumer Cyclical · MY · Market cap 750M MYR

AM Amway (Malaysia) Holdings 6351 · KLSE
Price4.55 MYR
Fair Value5.90 MYR
Upside+29.7%
Quality69/100
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Weak Growth
Thin margins · 3.5% net margin
generates free cash flow
4.39% dividend yield
Ranks above peers (8/12)
Moderate moat 45/100
Evidence: High Range 4.54 MYR – 7.57 MYR Share as image

Fair value as of: Jul 12, 2026

From 24 valuation models · updated 29 days ago

Share price −0.2% over the past month.

A solid business, screening 30% undervalued on our models.

What matters now

  • Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from 4.54 MYR (bear) to 7.57 MYR (bull), base 5.90 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 69/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

6.56 MYR 3.58 MYR Fair Value 5.90 MYR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 3.58 MYR – 6.56 MYR · fair‑value band 4.54 MYR – 7.57 MYR · the 4.55 MYR price screens below the 5.90 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

Amway (Malaysia) Holdings (6351) currently trades at 4.55 MYR, while our model-based Fair Value estimate is 5.90 MYR, implying the stock looks roughly 29.7% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Consumer Cyclical 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, Amway (Malaysia) Holdings generated revenue of 1.1B MYR at a net margin of 3.5%. Revenue declined 10.9% year over year. It earns a return on equity of 15.5%. The stock trades on a trailing P/E of 20.1. Fundamentals as of Jul 12, 2026

Our scenario range runs from 4.54 MYR (bear case) to 7.57 MYR (bull case); at 4.55 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 about 13% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -24% fair-value upside, at 30%, 6351 screens cheaper 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
Residual Income 1.57 MYR 1.92 MYR 3.44 MYR 76
Growth DCF 4.30 MYR 5.16 MYR 6.52 MYR 72
Gordon GGM 4.66 MYR 5.02 MYR 5.57 MYR 70
All 24 models by family
DCF Models
FCF DCF 4.20 MYR 5.11 MYR 6.66 MYR 38
Owner Earnings 3.47 MYR 4.16 MYR 5.35 MYR 31
5Y Revenue Exit 4.27 MYR 5.65 MYR 7.67 MYR 39
5Y EBITDA Exit 4.45 MYR 5.97 MYR 7.99 MYR 41
5Y P/E Exit 4.67 MYR 6.34 MYR 8.35 MYR 38
10Y Revenue Exit 4.14 MYR 5.13 MYR 6.19 MYR 36
10Y EBITDA Exit 4.32 MYR 5.31 MYR 6.36 MYR 37
10Y P/E Exit 4.44 MYR 5.52 MYR 6.56 MYR 35
Earnings-Based
Graham-Dodd 1.87 MYR 2.44 MYR 2.80 MYR 54
EPV 2.91 MYR 3.15 MYR 3.35 MYR 59
Dividend Discount
Gordon GGM 4.66 MYR 5.02 MYR 5.57 MYR 70
DDM Multi-Stage 4.66 MYR 5.61 MYR 6.80 MYR 61
Multiples
P/E Multiple 4.54 MYR 6.06 MYR 7.57 MYR 63
P/S Multiple 3.51 MYR 4.68 MYR 5.85 MYR 58
P/B Multiple 3.51 MYR 4.68 MYR 5.85 MYR 55
EV/EBIT 6.28 MYR 7.99 MYR 9.70 MYR 53
EV/EBITDA 5.23 MYR 6.59 MYR 7.96 MYR 54
EV/Revenue 4.60 MYR 6.09 MYR 7.57 MYR 43
Asset-Based
NCAV (Graham) 0.7800 MYR 1.04 MYR 1.55 MYR 50
Growth DCF
Growth DCF 4.30 MYR 5.16 MYR 6.52 MYR 72
Rev-Margin DCF 4.27 MYR 5.73 MYR 7.54 MYR 67
Economic Profit
Residual Income 1.57 MYR 1.92 MYR 3.44 MYR 76
ROIC Compounder 2.91 MYR 3.19 MYR 3.44 MYR 67
Growth Earnings
Growth-Adj P/E 3.20 MYR 4.58 MYR 5.95 MYR 68

Widest divergence: Multiples (6.06 MYR) versus Asset-Based (1.04 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.1B MYR
Revenue growth (YoY) -10.9%
Net margin 3.5%
Return on equity 15.5%
Free cash flow 61.7M MYR FY2025
P/E ratio 19.8
More key figures
Operating margin 2.8%
EPS (TTM) 0.2300 MYR
Dividend yield 4.4%
EPS growth (YoY) -56.7%

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 69 · Market factors (momentum, volatility) 52

Profitability 68
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 29
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

Amway (Malaysia) Holdings Berhad, an investment holding company, distributes consumer products in Malaysia. The company offers health, beauty, personal care, energy, children, personal shoppers, home living, and home care products.

Full company description

Amway (Malaysia) Holdings Berhad, an investment holding company, distributes consumer products in Malaysia. The company offers health, beauty, personal care, energy, children, personal shoppers, home living, and home care products. It offres products under NUTRILITE, body key, XS, ARTISTRY, G&H, GLISTER, SANITIQUE, e-spring, ATMOSPHERE, and Amway home brands through physical and online stores. Amway (Malaysia) Holdings Berhad was founded in 1976 and is headquartered in Petaling Jaya, Malaysia. Amway (Malaysia) Holdings Berhad operates as a subsidiary of GDA B.V.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Amway (Malaysia) Holdings reported revenue of 1.1B MYR in FY2025 versus 1.5B MYR in FY2021, a compound −6.7%/yr. Reported net income was 45.3M MYR in FY2025, compounding +5.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.1B MYR
Latest YoY
−7.6%
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.
−9.5%
Avg. growth/yr (5Y) 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.
−0.5%
Avg. growth/yr (13Y) 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.
+2.7%
Revenue −6.7%/yr
FY21 1.5B MYR
FY22 1.5B MYR
FY23 1.4B MYR
FY24 1.2B MYR
FY25 1.1B MYR
Net income +5.3%/yr
FY21 36.8M MYR
FY22 76.9M MYR
FY23 116M MYR
FY24 100M MYR
FY25 45.3M MYR

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Cite: Fair Value Calculator (2026). "Amway (Malaysia) Holdings Fair Value". https://www.fairvalue-calculator.com/stock/6351

Peer Group

Specialty Retail · 221 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 69 · Top 25%
Fair Value upside +30% · Above median
Return on equity (TTM) 15% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 3% · Above median
Operating margin (TTM) 3% · Below median
Revenue growth -11% · Bottom 25%
Dividend yield (TTM) 4.4% · Above median

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 19.8× · Pricier than median
P/B 0.72× · Cheaper than median
P/S (TTM) 0.17× · Cheaper than 75% of peers
P/FCF 3.0× · Pricier 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 73 · sector 29
FUTURE 0 · sector 23
PAST 62 · sector 27
HEALTH 0 · sector 94
DIVIDEND 88 · sector 51

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 Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Casey's General Stores, Inc CASY $827.04 $405.44 -51%
Williams-Sonoma, Inc WSM $222.84 $164.16 -26%
Ulta Beauty, Inc ULTA $479.57 $488.39 +2%
DICK'S Sporting Goods, Inc DKS $208.89 $181.10 -13%
Best Buy Co BBY $83.98 $109.12 +30%
China Tourism Group 601888 ¥52.90 ¥40.40 -24%
Tractor Supply Company TSCO $31.01 $35.52 +15%
Murphy USA Inc MUSA $618.57 $423.35 -32%
Five Below, Inc FIVE $197.71 $117.29 -41%
Taiwan Mobile Co 3045 110.50 TWD 80.98 TWD -27%

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Frequently asked questions

Is Amway (Malaysia) Holdings (6351) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 5.90 MYR versus a price of 4.55 MYR, about +30% (undervalued).
What is the fair value of 6351?
Our model-based fair value for Amway (Malaysia) Holdings is 5.90 MYR (as of Jul 12, 2026), built from audited fundamentals. The current price is 4.55 MYR.
What is the quality score of 6351?
Amway (Malaysia) Holdings has a Quality Score of 69/100. 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 Amway (Malaysia) Holdings (6351)?
Amway (Malaysia) Holdings reported trailing-twelve-month revenue of about 1.1B MYR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 6351?
The net profit margin of Amway (Malaysia) Holdings is about 3.5%, meaning it keeps roughly 3.5% of revenue as net income. Based on the latest reported figures.
Does Amway (Malaysia) Holdings pay a dividend?
Amway (Malaysia) Holdings currently shows a dividend yield of about 4.30% relative to its recent price (as of Jul 12, 2026).

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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