Thong Guan Industries Bhd (7034) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Thong Guan Industries Bhd MYR 2.80, price MYR 1.52, upside +84.2%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 0.9265 MYR – 2.52 MYR · fair‑value band 2.10 MYR – 3.50 MYR · the 1.52 MYR price screens below the 2.80 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Thong Guan Industries Berhad, an investment holding company, manufactures and trades in plastic products and packaged food, beverages, and other consumable products in Malaysia, other Asian countries, Oceania, Europe, North America, and internationally.
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Thong Guan Industries Berhad, an investment holding company, manufactures and trades in plastic products and packaged food, beverages, and other consumable products in Malaysia, other Asian countries, Oceania, Europe, North America, and internationally. The company operates through Plastic Products; and Food, Beverages, and Other Consumable Products segments. Its products include bottom seal poly bags, side seal with adhesive tape and drum seal, garbage bags, bags and sheets perforated on roll, produce roll, punch and pin hole, non-entrapment seal, apron, header block, carry and shopping bags, laminated barrier films, form-fill seal sheet, and collation shrink films for industrial and commercial use; tinted food wraps; and additives, such as calcium carbonate, color masterbatches, and polymer processing aid. The company also manufactures and trades in tea, coffee, and other related products, as well as flour-based dried and steamed noodles. In addition, it is involved in the manufacturing, selling, and trading of film blown plastic products; wholesale of rice; trading of petroleum products; and operation of research and development center for plastic packaging industry. Further, it offers IPAK5, an IoT solution, used in packaging and safety capacity. The company serves the food and beverages, industrial and packaging, transport and logistics, waste and energy, retail and ecommerce, consumer packaging, and hygiene and medical industries. Thong Guan Industries Berhad was founded in 1942 and is headquartered in Sungai Petani, Malaysia.
Stock analysis
Thong Guan Industries Bhd (7034) currently trades at 1.52 MYR, while our model-based Fair Value estimate is 2.80 MYR, implying the stock looks roughly 45.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 3.58 MYR per share, and 22 of the 25 models we run sit above the 1.52 MYR price.
Bear case: the Dividend Discount group reads lowest at 0.4600 MYR, and 3 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: 2.10 MYR (bear) to 3.50 MYR (bull), the price of 1.52 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 64/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Thong Guan Industries Bhd reported revenue of 1.2B MYR in FY2025 versus 1.2B MYR in FY2021, a compound −0.3%/yr. Reported net income was 64.0M MYR in FY2025, compounding −8.9%/yr from FY2021.
Key figures
Market cap 601M MYR (≈ $147M) · P/E ratio 8.9 · P/S ratio 0.48 · EPS (TTM) 0.1700 MYR · Dividend yield 3.0% · Net margin 5.3% · Return on equity 6.5% · Return on assets (EBIT) 7.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 39% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −21% fair-value upside, at 84%, 7034 screens cheaper than that median.
Fair Value models
Bear 2.10 MYRFair Value 2.80 MYRBull 3.50 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 (0.0918 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−6.4%
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.
−4.7%
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.
+4.6%
Start year 2020 (pandemic). Over 10 years: +5.4% 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.
+5.1%
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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. 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.
−0.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.3%
Dividend (yield on the price)3.0%
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.−3% vs 0%, slowing
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.10% → 7%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−12.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about −14.2% a year for the price.
Compare Thong Guan Industries Bhd with another stock
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.Packaging & Containers · 272 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside+85% · Top 25%
Profitability
Return on equity (TTM)6% · Above median
Return on assets4% · Above median
Net margin (TTM)6% · Above median
Operating margin (TTM)8% · Above median
Growth and dividend
Revenue growth−1% · Below median
Dividend yield (TTM)3.0% · Above median
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Packaging & Containers median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Thong Guan Industries Bhd Fair Value". https://www.fairvalue-calculator.com/stock/7034
Frequently asked questions
Is Thong Guan Industries Bhd (7034) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2.80 MYR versus a price of 1.52 MYR, about +84% upside (undervalued).
What is the fair value of 7034?
Our model-based fair value for Thong Guan Industries Bhd is 2.80 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 1.52 MYR.
What is the quality score of 7034?
Thong Guan Industries Bhd has a Quality Score of 64/100. 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 Thong Guan Industries Bhd (7034)?
Our model-based price target is the fair value of 2.80 MYR (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 2.10 MYR, optimistic scenario 3.50 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Thong Guan Industries Bhd stock forecast for 2026?
Our models put fair value at 2.80 MYR, about +84% upside versus a price of 1.52 MYR (undervalued). Cautious scenario 2.10 MYR, optimistic scenario 3.50 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Thong Guan Industries Bhd (7034)?
Thong Guan Industries Bhd reported trailing-twelve-month revenue of about 1.2B MYR (latest available figure, as of Sep 24, 2026).
Does Thong Guan Industries Bhd pay a dividend?
Thong Guan Industries Bhd currently shows a dividend yield of about 2.96% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Thong Guan Industries Bhd (7034)?
For today's price to be fair in a discounted-cash-flow model, Thong Guan Industries Bhd would have to grow free cash flow by -12.5 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 7034 use?
Our models discount Thong Guan Industries Bhd at 12.6 %: a base by market capitalisation (micro), damped by beta 0.15, 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 Thong Guan Industries Bhd that is -12.5 % per year a year over ten years, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has Thong Guan Industries Bhd (7034) delivered so far?
Over the past 5 years revenue at Thong Guan Industries Bhd grew +4.6 % a year. The price currently implies -12.5 % 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 Thong Guan Industries Bhd (7034) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Thong Guan Industries Bhd (-12.5 % 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 Thong Guan Industries Bhd (7034)?
The free-cash-flow yield on the price is 15.90 %: that much free cash flow Thong Guan Industries Bhd produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Thong Guan Industries Bhd (7034)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thong Guan Industries Bhd it is 2.80 MYR per share (as of Sep 24, 2026), against a price of 1.52 MYR. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Thong Guan Industries Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 7034 trades below its calculated fair value: price 1.52 MYR, fair value 2.80 MYR, a gap of about +84% (undervalued). 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 7034?
No. The price is what the market pays today (1.52 MYR); the fair value is what the company's own numbers justify (2.80 MYR). For Thong Guan Industries Bhd the two are 1.28 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Thong Guan Industries Bhd worth?
The market values Thong Guan Industries Bhd at about 601M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 1.52 MYR; our models calculate a fair value of 2.80 MYR per share.
What do the bullish and bearish scenarios say about 7034?
Our models span a range for Thong Guan Industries Bhd: cautious scenario 2.10 MYR, base 2.80 MYR, optimistic 3.50 MYR per share (as of Sep 24, 2026, price 1.52 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 7034?
Thong Guan Industries Bhd trades at a price-to-earnings ratio of 8.9 (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 2.80 MYR is built from several models across several years. Other multiples: P/B 0.2, P/S 0.1.
How solid is the balance sheet of Thong Guan Industries Bhd (7034)?
Balance-sheet figures for Thong Guan Industries Bhd (as of Sep 24, 2026): return on equity 6.5%, debt of 0.02 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 7034 from its 52-week high?
Thong Guan Industries Bhd trades at 1.52 MYR, about 10% below its 52-week high of 1.68 MYR and 39% above the low of 1.09 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 2.80 MYR is for.
Which stocks are comparable to Thong Guan Industries Bhd?
From the same area (Consumer Cyclical) we also value Smurfit Westrock Plc,, Packaging Corporation, International Paper Company, Ball 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 Thong Guan Industries Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 1.52 MYR, calculated fair value 2.80 MYR (+84%), Quality Score 64/100, from 25 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 7034 calculated?
We run Thong Guan Industries Bhd through 25 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 2.80 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 13.0 % above its aggregate fair value. Thong Guan Industries Bhd currently trades 84 % 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 Thong Guan Industries Bhd (7034)?
The closing price on Sep 24, 2026 was 1.52 MYR. Our model-based fair value is 2.80 MYR, about +84% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Thong Guan Industries Bhd right now?
The price is below even our cautious bear case (2.10 MYR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Thong Guan Industries Bhd (7034) come from?
Earnings per share at Thong Guan Industries Bhd grew +2.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.3 %, EBIT margin +2.5 %, tax rate −1.4 %, residual (interest, one-offs) −0.4 %. 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 Thong Guan Industries Bhd
How large is the market capitalisation of Thong Guan Industries Bhd (7034)?
The market capitalisation of Thong Guan Industries Bhd is 601M MYR (≈ $147M). 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 Thong Guan Industries Bhd (7034)?
The price-to-sales ratio of Thong Guan Industries Bhd is 0.48 (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 Thong Guan Industries Bhd (7034)?
Earnings per share at Thong Guan Industries Bhd are 0.1700 MYR (price ÷ EPS = P/E 8.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Thong Guan Industries Bhd (7034)?
The dividend yield of Thong Guan Industries Bhd is 3.0% (payout 26.5%). 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 Thong Guan Industries Bhd (7034)?
The net margin of Thong Guan Industries Bhd is 5.3% (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 Thong Guan Industries Bhd (7034)?
The return on equity (ROE) of Thong Guan Industries Bhd is 6.5% (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 Thong Guan Industries Bhd (7034)?
On an EBIT basis the return on assets of Thong Guan Industries Bhd is 7.8% (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 Thong Guan Industries Bhd (7034)?
The operating margin of Thong Guan Industries Bhd is 8.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thong Guan Industries Bhd (7034)?
Revenue at Thong Guan Industries Bhd is growing −0.5% versus a year earlier (3y avg −4.7%). 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 Thong Guan Industries Bhd (7034)?
Earnings per share at Thong Guan Industries Bhd are growing +18.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Thong Guan Industries Bhd (7034) hold?
Thong Guan Industries Bhd holds more cash than debt, 155M MYR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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