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Kenanga Investment Bank Berhad, (6483) Fair Value & Analysis

Financial Services · MY · Market cap 517M MYR

KI Kenanga Investment Bank Berhad, 6483 · KLSE
Price0.7000 MYR
Fair Value1.17 MYR
Upside+67.1%
Quality42/100
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Expensive Growth
Thin margins · 6.9% net margin
Low debt · negative free cash flow
7.14% dividend yield
Mixed vs. peers (5/12)
Narrow moat 30/100
Evidence: High Range 0.8800 MYR – 1.46 MYR Share as image

Fair value as of: Jul 17, 2026

From 9 valuation models · updated 24 days ago

Share price −1.4% over the past month.

Below-average quality, screening 67% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (0.8800 MYR). The market is more pessimistic than our downside scenario.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

1.38 MYR 0.6666 MYR Fair Value 1.17 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 0.6666 MYR – 1.38 MYR · fair‑value band 0.8800 MYR – 1.46 MYR · the 0.7000 MYR price screens below the 1.17 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Kenanga Investment Bank Berhad, (6483) currently trades at 0.7000 MYR, while our model-based Fair Value estimate is 1.17 MYR, implying the stock looks roughly 67.1% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Financial Services 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, Kenanga Investment Bank Berhad, generated revenue of 646M MYR at a net margin of 6.9%. Revenue grew 2.9% year over year. It earns a return on equity of 4.2%. The balance sheet holds a net cash position of 1.2B MYR. Fundamentals as of Jul 17, 2026

Our scenario range runs from 0.8800 MYR (bear case) to 1.46 MYR (bull case); at 0.7000 MYR, the current price sits below 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 19% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at 67%, 6483 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 1.08 MYR 1.08 MYR 0.9600 MYR 76
Gordon GGM 0.6200 MYR 1.12 MYR 1.54 MYR 70
P/E Multiple 0.6700 MYR 0.8900 MYR 1.12 MYR 63
All 9 models by family
DCF Models
Owner Earnings 3.64 MYR 4.21 MYR 5.07 MYR 31
Earnings-Based
Graham-Dodd 0.4700 MYR 2.13 MYR 2.92 MYR 54
Lynch FV 0.5600 MYR 0.8000 MYR 1.03 MYR 50
Dividend Discount
Gordon GGM 0.6200 MYR 1.12 MYR 1.54 MYR 70
DDM Multi-Stage 0.6200 MYR 1.02 MYR 1.20 MYR 61
Multiples
P/E Multiple 0.6700 MYR 0.8900 MYR 1.12 MYR 63
P/B Multiple 0.8800 MYR 1.17 MYR 1.46 MYR 55
Asset-Based
NCAV (Graham) 0.7500 MYR 1.00 MYR 1.50 MYR 50
Economic Profit
Residual Income 1.08 MYR 1.08 MYR 0.9600 MYR 76

Widest divergence: DCF Models (4.21 MYR) versus Earnings-Based (0.8000 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 646M MYR
Revenue growth (YoY) +2.9%
Net margin 6.9%
Return on equity 4.2%
Free cash flow −94.5M MYR FY2025
P/E ratio 11.8
More key figures
Operating margin 1.0%
EPS (TTM) 0.0600 MYR
Dividend yield 7.1%
EPS growth (YoY) -57.1%
Net cash 1.2B MYR FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 51 · Market factors (momentum, volatility) 44

Profitability 20
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 83
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

Kenanga Investment Bank Berhad, together with its subsidiaries, provides investment banking, stockbroking, and related financial services primarily in Malaysia. It operates through five segments: Investment Banking; Stockbroking; Listed Derivatives; Asset and Wealth Management; and Corporate and Others.

Full company description

Kenanga Investment Bank Berhad, together with its subsidiaries, provides investment banking, stockbroking, and related financial services primarily in Malaysia. It operates through five segments: Investment Banking; Stockbroking; Listed Derivatives; Asset and Wealth Management; and Corporate and Others. The company offers equity brokerage, global equity trading, structured warrants, equity structured, and securities borrowing and lending; clearing and settlement services; access to trade on both Bursa Malaysia Derivatives Berhad and the Chicago Mercantile Exchange group; and corporate banking, corporate finance, debt capital markets, equity capital market, and private equity solutions. It also provides investment schemes, private retirement schemes, portfolio management services, and alternative investments to clients; Skim Perbankan Islam and Islamic stockbroking window products; and investment and hedging solutions. In addition, the company offers futures and stock broking, nominee, private equity management, information technology, management and maintenance, Shariah-compliant investment management, money lending, and trustee services. Further, it engages in online digital platform or portal, and property investment business; and promotion and management of collective investment schemes and unit trust funds, as well as management of investment funds. Additionally, the company provides treasury comprises of short and long term deposits, issuance of negotiable instruments of deposit and retail negotiable instruments of deposit, fixed income instruments, foreign exchange, and structured investment. The company was formerly known as K & N Kenanga Berhad and changed its name to Kenanga Investment Bank Berhad in 2007. The company was incorporated in 1973 and is headquartered in Kuala Lumpur, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kenanga Investment Bank Berhad, reported revenue of 875M MYR in FY2025 versus 470M MYR in FY2021, a compound +16.8%/yr. Reported net income was 50.0M MYR in FY2025, compounding −19.4%/yr from FY2021.

Growth Quality 43/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
875M MYR
Latest YoY
+11.4%
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.
+20.6%
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.
+7.6%
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.
+11.0%
Revenue +16.8%/yr
FY21 470M MYR
FY22 499M MYR
FY23 631M MYR
FY24 786M MYR
FY25 875M MYR
Net income −19.4%/yr
FY21 118M MYR
FY22 54.5M MYR
FY23 72.6M MYR
FY24 95.8M MYR
FY25 50.0M MYR

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Cite: Fair Value Calculator (2026). "Kenanga Investment Bank Berhad, Fair Value". https://www.fairvalue-calculator.com/stock/6483

Peer Group

Capital Markets · 423 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 52 · Below median
Fair Value upside +67% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 7% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth 3% · Below median
Dividend yield (TTM) 7.1% · Top 25%
Debt / equity 0.17× · Higher than median

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 11.8× · Cheaper than median
P/B 0.12× · Cheaper than 75% of peers
P/S (TTM) 0.20× · 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 100 · sector 9
FUTURE 15 · sector 96
PAST 17 · sector 30
HEALTH 91 · sector 93
DIVIDEND 100 · sector 36

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 Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
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Mirae Asset Securities Co 006800 38,750 KRW 31,645 KRW -18%
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NH Investment & Securities Co 005940 31,000 KRW 37,133 KRW +20%
Samsung Securities Co 016360 107,700 KRW 126,487 KRW +17%
Motilal Oswal Financial Services Limited MOTILALOFS ₹967.00 ₹299.65 -69%
Kiwoom Securities Co 039490 322,000 KRW 358,091 KRW +11%
SSI Securities Corporation SSI 24,250 VND 28,021 VND +16%
Bolsas y Mercados Argentinos S.A BYMA 313.75 ARS 120.22 ARS -62%

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Frequently asked questions

Is Kenanga Investment Bank Berhad, (6483) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 1.17 MYR versus a price of 0.7000 MYR, about +67% (undervalued).
What is the fair value of 6483?
Our model-based fair value for Kenanga Investment Bank Berhad, is 1.17 MYR (as of Jul 17, 2026), built from audited fundamentals. The current price is 0.7000 MYR.
What is the quality score of 6483?
Kenanga Investment Bank Berhad, has a Quality Score of 42/100. 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 Kenanga Investment Bank Berhad, (6483)?
Kenanga Investment Bank Berhad, reported trailing-twelve-month revenue of about 646M MYR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 6483?
The net profit margin of Kenanga Investment Bank Berhad, is about 6.9%, meaning it keeps roughly 6.9% of revenue as net income. Based on the latest reported figures.
Does Kenanga Investment Bank Berhad, pay a dividend?
Kenanga Investment Bank Berhad, currently shows a dividend yield of about 7.09% relative to its recent price (as of Jul 17, 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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