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JAG Capital Berhad, an investment holding company, (6874) Fair Value & Analysis

Utilities · MY · Market cap 502M MYR

JC JAG Capital Berhad, an investment holding company, 6874 · KLSE
Price0.9700 MYR
Fair Value1.02 MYR
Upside+5.2%
Quality63/100
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Mixed Growth
Thin margins · 7.2% net margin
Low debt · generates free cash flow
4.49% dividend yield
Mixed vs. peers (7/13)
Narrow moat 38/100
Evidence: High Range 0.7722 MYR – 1.26 MYR Share as image

Fair value as of: Jul 15, 2026

From 24 valuation models · updated 25 days ago

Fair value updated Jul 15, 2026, revised from 1.85 MYR to 1.02 MYR (−44.8%) since Jun 25, 2026. Share price +9.0% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 0.7722 MYR (bear) to 1.26 MYR (bull), base 1.02 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 63/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

1.15 MYR 0.4012 MYR Fair Value 1.02 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 0.4012 MYR – 1.15 MYR · fair‑value band 0.7722 MYR – 1.26 MYR · the 0.9700 MYR price screens below the 1.02 MYR fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

JAG Capital Berhad, an investment holding company, (6874) currently trades at 0.9700 MYR, while our model-based Fair Value estimate is 1.02 MYR, implying the stock looks roughly 5.2% fairly valued today. The Quality Score stands at 63/100 (solid quality), in the Utilities 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, JAG Capital Berhad, an investment holding company, generated revenue of 711M MYR at a net margin of 7.2%. Revenue declined 13.6% year over year. It earns a return on equity of 5.6%. Net debt stands at 77.3M MYR. Fundamentals as of Jul 15, 2026

Our scenario range runs from 0.7722 MYR (bear case) to 1.26 MYR (bull case); at 0.9700 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 18% below its 52-week high and 77% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -19% fair-value upside, at 5%, 6874 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
Growth DCF 1.31 MYR 1.45 MYR 1.61 MYR 80
Residual Income 0.9900 MYR 1.05 MYR 1.15 MYR 76
Rev-Margin DCF 1.47 MYR 1.80 MYR 2.16 MYR 74
All 24 models by family
DCF Models
FCF DCF 1.31 MYR 1.46 MYR 1.65 MYR 38
Owner Earnings 2.13 MYR 2.60 MYR 3.21 MYR 31
5Y Revenue Exit 1.47 MYR 1.80 MYR 2.21 MYR 39
5Y EBITDA Exit 1.51 MYR 1.88 MYR 2.30 MYR 41
5Y P/E Exit 1.86 MYR 2.51 MYR 3.18 MYR 38
10Y Revenue Exit 1.38 MYR 1.65 MYR 1.99 MYR 36
10Y EBITDA Exit 1.42 MYR 1.70 MYR 2.05 MYR 37
10Y P/E Exit 1.62 MYR 2.09 MYR 2.65 MYR 35
Earnings-Based
Graham-Dodd 0.7400 MYR 2.05 MYR 2.69 MYR 54
Lynch FV 0.4100 MYR 0.5800 MYR 0.7600 MYR 50
PEG = 1.0 0.4100 MYR 0.5800 MYR 0.7600 MYR 46
EPV 1.46 MYR 1.53 MYR 1.59 MYR 59
Multiples
P/E Multiple 1.48 MYR 1.97 MYR 2.46 MYR 63
P/S Multiple 1.40 MYR 1.86 MYR 2.33 MYR 58
P/B Multiple 1.40 MYR 1.86 MYR 2.33 MYR 55
EV/EBIT 1.78 MYR 2.06 MYR 2.34 MYR 53
EV/EBITDA 1.75 MYR 2.02 MYR 2.29 MYR 54
EV/Revenue 1.62 MYR 1.91 MYR 2.20 MYR 43
Asset-Based
NCAV (Graham) 0.6200 MYR 0.8300 MYR 1.23 MYR 50
Growth DCF
Growth DCF 1.31 MYR 1.45 MYR 1.61 MYR 80
Rev-Margin DCF 1.47 MYR 1.80 MYR 2.16 MYR 74
Economic Profit
Residual Income 0.9900 MYR 1.05 MYR 1.15 MYR 76
ROIC Compounder 1.49 MYR 1.60 MYR 1.71 MYR 72
Growth Earnings
Growth-Adj P/E 1.19 MYR 1.70 MYR 2.21 MYR 68

Widest divergence: Multiples (1.91 MYR) versus Earnings-Based (0.5800 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 711M MYR
Revenue growth (YoY) -13.6%
Net margin 7.2%
Return on equity 5.6%
Free cash flow 22.9M MYR FY2024
P/E ratio 22.5
More key figures
Operating margin 5.5%
EPS (TTM) 0.0400 MYR
Dividend yield 4.5%
EPS growth (YoY) -57.8%
Net debt 77.3M MYR FY2018

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 63 · Market factors (momentum, volatility) 66

Profitability 39
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 81
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

JAG Capital Berhad, an investment holding company, engages in the business of importing, storing, bottling, marketing, trading, and distributing liquefied petroleum gas (LPG) for household and industrial use under the Solar Gas brand name in Malaysia. It operates through LPG; Cables and building materials; and Others segments.

Full company description

JAG Capital Berhad, an investment holding company, engages in the business of importing, storing, bottling, marketing, trading, and distributing liquefied petroleum gas (LPG) for household and industrial use under the Solar Gas brand name in Malaysia. It operates through LPG; Cables and building materials; and Others segments. The company owns and operates bottling plants. It also engages in the manufacture of cables and wires; manufacturing and trading of plumbing fittings and sanitaryware; provision of engineering and civil works for the power sectors. In addition, the company provides infrastructure solutions; supply, maintenance and ancillary services in information, communications, and technology, as well as property management, investment holding, and management services. Further, it is involved in assembly and commissioning of telecommunication equipment; supply and erection of electrical substations and transmission lines; cultivation of palm oil and management of oil palm estates; manufacturing and selling water taps, showers, and plumbing fittings; deals, trades, and distributes household fittings and appliances; trading of ceramic sanitary ware and related products. The company was formerly known as KUB Malaysia Berhad and change its name to JAG Capital Berhad in November 2025. The company was incorporated in 1965 and is based in Kuala Lumpur, Malaysia.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

JAG Capital Berhad, an investment holding company, reported revenue of 739M MYR in FY2024 versus 584M MYR in FY2020, a compound +6.0%/yr. Reported net income was 61.0M MYR in FY2024, compounding −20.9%/yr from FY2020.

Growth Quality 66/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
739M MYR
Latest YoY
+34.2%
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.
+10.5%
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.
+13.0%
Avg. growth/yr (12Y) 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.
−0.7%
Revenue +6.0%/yr
FY20 584M MYR
FY21 548M MYR
FY22 489M MYR
FY23 550M MYR
FY24 739M MYR
Net income −20.9%/yr
FY20 156M MYR
FY21 18.3M MYR
FY22 33.8M MYR
FY23 35.7M MYR
FY24 61.0M MYR

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Cite: Fair Value Calculator (2026). "JAG Capital Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/6874

Peer Group

Utilities - Regulated Gas · 104 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 63 · Top 25%
Fair Value upside +5% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 3% · Below median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth -14% · Bottom 25%
Dividend yield (TTM) 4.5% · Top 25%

Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper

P/E (TTM) 22.5× · Pricier than median
P/B 0.73× · Cheaper than 75% of peers
P/S (TTM) 0.71× · Cheaper than median
P/FCF 5.4× · 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 40 · sector 22
FUTURE 0 · sector 0
PAST 22 · sector 34
HEALTH 100 · sector 85
DIVIDEND 90 · sector 67

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 Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Naturgy Energy Group NTGY €28.84 €35.80 +24%
Atmos Energy Corporation ATO $177.68 $85.67 -52%
NiSource Inc NI $47.07 $28.59 -39%
Uniper SE UN0 €42.80 €49.13 +15%
The Hong Kong and China Gas Company 0003 HK$7.03 HK$5.08 -28%
Italgas S.p.A IG €9.98 €8.11 -19%
GAIL (India) Limited GAIL ₹171.71 ₹147.74 -14%
Adani Total Gas Limited ATGL ₹723.90 ₹101.36 -86%
ENN Natural Gas Co 600803 ¥17.30 ¥25.71 +49%
UGI Corporation UGI $35.84 $27.13 -24%

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Frequently asked questions

Is JAG Capital Berhad, an investment holding company, (6874) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 1.02 MYR versus a price of 0.9700 MYR, about +5% (fairly valued).
What is the fair value of 6874?
Our model-based fair value for JAG Capital Berhad, an investment holding company, is 1.02 MYR (as of Jul 15, 2026), built from audited fundamentals. The current price is 0.9700 MYR.
What is the quality score of 6874?
JAG Capital Berhad, an investment holding company, has a Quality Score of 63/100. 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 JAG Capital Berhad, an investment holding company, (6874)?
JAG Capital Berhad, an investment holding company, reported trailing-twelve-month revenue of about 711M MYR (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 6874?
The net profit margin of JAG Capital Berhad, an investment holding company, is about 7.2%, meaning it keeps roughly 7.2% of revenue as net income. Based on the latest reported figures.
Does JAG Capital Berhad, an investment holding company, pay a dividend?
JAG Capital Berhad, an investment holding company, currently shows a dividend yield of about 4.06% relative to its recent price (as of Jul 15, 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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