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Asia File Corporation (7129) Fair Value & Analysis

Industrials · MY · Market cap 246M MYR

AF Asia File Corporation 7129 · KLSE
Price1.30 MYR
Fair Value0.5400 MYR
Upside-58.5%
Quality67/100
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Weak Growth
Thin margins · 2.0% net margin
Low debt · generates free cash flow
1.54% dividend yield
Trails peers (4/13)
Narrow moat 22/100
Evidence: High Range 0.4000 MYR – 0.6700 MYR Share as image

Fair value as of: Jul 17, 2026

From 23 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from 2.52 MYR to 0.5400 MYR (−78.6%) since Jun 25, 2026. Share price −0.8% over the past month.

A solid business, but screening 58% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.6700 MYR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

2.47 MYR 1.25 MYR Fair Value 0.5400 MYR Jun 2020 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 1.25 MYR – 2.47 MYR · fair‑value band 0.4000 MYR – 0.6700 MYR · the 1.30 MYR price screens above the 0.5400 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

Asia File Corporation (7129) currently trades at 1.30 MYR, while our model-based Fair Value estimate is 0.5400 MYR, implying the stock looks roughly 58.5% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Asia File Corporation generated revenue of 239M MYR at a net margin of 2.0%. Revenue declined 13.3% year over year. It earns a return on equity of 0.7%. The stock trades on a trailing P/E of 42.7. Fundamentals as of Jul 17, 2026

Our scenario range runs from 0.4000 MYR (bear case) to 0.6700 MYR (bull case); at 1.30 MYR, the current price sits above 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 16% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -57% fair-value upside, at -58%, 7129 screens richer 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 2.95 MYR 3.25 MYR 3.69 MYR 80
Residual Income 2.32 MYR 2.11 MYR 1.27 MYR 76
Rev-Margin DCF 2.41 MYR 2.58 MYR 2.81 MYR 74
All 23 models by family
DCF Models
FCF DCF 2.92 MYR 3.23 MYR 3.74 MYR 38
5Y Revenue Exit 2.41 MYR 2.55 MYR 2.74 MYR 39
5Y EBITDA Exit 2.67 MYR 2.99 MYR 3.42 MYR 41
5Y P/E Exit 2.46 MYR 2.63 MYR 2.84 MYR 38
10Y Revenue Exit 2.64 MYR 2.76 MYR 2.86 MYR 36
10Y EBITDA Exit 2.78 MYR 2.99 MYR 3.20 MYR 37
10Y P/E Exit 2.67 MYR 2.80 MYR 2.91 MYR 35
Earnings-Based
Graham-Dodd 0.1700 MYR 0.2100 MYR 0.2400 MYR 54
EPV 1.81 MYR 1.82 MYR 1.83 MYR 59
Dividend Discount
Gordon GGM 0.1400 MYR 0.1500 MYR 0.1600 MYR 70
DDM Multi-Stage 0.1400 MYR 0.1600 MYR 0.1900 MYR 61
Multiples
P/E Multiple 0.4000 MYR 0.5400 MYR 0.6700 MYR 63
P/S Multiple 0.3300 MYR 0.4300 MYR 0.5400 MYR 58
P/B Multiple 0.3300 MYR 0.4300 MYR 0.5400 MYR 55
EV/EBIT 2.09 MYR 2.22 MYR 2.35 MYR 53
EV/EBITDA 2.57 MYR 2.85 MYR 3.14 MYR 54
EV/Revenue 1.98 MYR 2.10 MYR 2.22 MYR 43
Asset-Based
NCAV (Graham) 1.89 MYR 2.54 MYR 3.79 MYR 50
Growth DCF
Growth DCF 2.95 MYR 3.25 MYR 3.69 MYR 80
Rev-Margin DCF 2.41 MYR 2.58 MYR 2.81 MYR 74
Economic Profit
Residual Income 2.32 MYR 2.11 MYR 1.27 MYR 76
ROIC Compounder 1.81 MYR 1.82 MYR 1.83 MYR 72
Growth Earnings
Growth-Adj P/E 0.2800 MYR 0.4100 MYR 0.5300 MYR 68

Widest divergence: DCF Models (2.80 MYR) versus Dividend Discount (0.1500 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 239M MYR
Revenue growth (YoY) -13.3%
Net margin 2.0%
Return on equity 0.7%
Free cash flow 32.0M MYR FY2026
P/E ratio 43.3
More key figures
Operating margin -2.7%
EPS (TTM) 0.0300 MYR
Dividend yield 1.5%
EPS growth (YoY) -12.7%

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

Quality Score breakdown

Overall quality 67/100

Of which business quality 67 · Market factors (momentum, volatility) 48

Profitability 19
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 86
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

Asia File Corporation Bhd., an investment holding company, manufactures and markets filing and stationery products in Malaysia. It operates in Filing Products; and Industrial, Consumer and Food Ware Products segments.

Full company description

Asia File Corporation Bhd., an investment holding company, manufactures and markets filing and stationery products in Malaysia. It operates in Filing Products; and Industrial, Consumer and Food Ware Products segments. The company offers plastic folders, sheet protectors, flat files, filing/storage boxes, lever arch files, ring/presentation binders, clipboards and clip folders, indexes and dividers, Manila files and folders, suspensions files, labels and paper products, desk and office accessories, document presentation products, ring file/binders, envelopes, marker and whiteboard accessories, and other office stationeries. It also manufactures and sells colored paper and boards for filing, educational, and other specialty markets. In addition, the company manufactures and trades in consumer plasticware, and recyclable food ware products. Further, it trades in graphic designing and desktop publishing products. The company sells its products under the ABBAware brand. It serves retailers and office suppliers. The company also exports its products to Europe, the United States, Australia, New Zealand, the Middle East, Africa, and the Asia Pacific. Asia File Corporation Bhd. was incorporated in 1994 and is headquartered in Bayan Lepas, Malaysia.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Asia File Corporation reported revenue of 239M MYR in FY2026 versus 323M MYR in FY2022, a compound −7.3%/yr. Reported net income was 4.8M MYR in FY2026, compounding −42.2%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
239M MYR
Latest YoY
−13.3%
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.
−9.1%
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.
−1.6%
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.
−2.3%
Revenue −7.3%/yr
FY22 323M MYR
FY23 318M MYR
FY24 294M MYR
FY25 275M MYR
FY26 239M MYR
Net income −42.2%/yr
FY22 43.4M MYR
FY23 31.6M MYR
FY24 52.1M MYR
FY25 −43.3M MYR
FY26 4.8M MYR

7129 screens 58% overvalued. Compare with Ricoh Company →

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Cite: Fair Value Calculator (2026). "Asia File Corporation Fair Value". https://www.fairvalue-calculator.com/stock/7129

Peer Group

Business Equipment & Supplies · 72 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 67 · Top 25%
Fair Value upside −59% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 0% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) -3% · Bottom 25%
Revenue growth -13% · Bottom 25%
Dividend yield (TTM) 1.5% · Below median

Valuation Multiples vs Business Equipment & Supplies median · lower = cheaper

P/E (TTM) 43.3× · Pricier than 75% of peers
P/B 0.08× · Cheaper than 75% of peers
P/S (TTM) 0.25× · Cheaper than median
P/FCF 1.9× · 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 0 · sector 33
FUTURE 0 · sector 18
PAST 3 · sector 21
HEALTH 100 · sector 99
DIVIDEND 31 · sector 52

VALUE 0: the price sits above our fair-value range.

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 Business Equipment & Supplies stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Ricoh Company RICO ¥15.33 ¥17.99 +17%
GRG Banking Equipment Co 002152 ¥10.08 ¥6.90 -32%
Shanghai M&G Stationery Inc 603899 ¥22.83 ¥30.05 +32%
XGD Inc 300130 ¥19.90 ¥15.67 -21%
DOMS Industries Limited DOMS ₹2,260 ₹782.96 -65%
Hengbao Co 002104 ¥9.20 ¥1.66 -82%
Shaanxi Fenghuo Electronics Co 000561 ¥6.99 ¥1.75 -75%
Shenzhen Comix Group 002301 ¥7.30 ¥3.11 -57%
Shandong New Beiyang Information Technology Co 002376 ¥6.00 ¥1.73 -71%
Cashway Fintech Co 603106 ¥9.04 ¥1.20 -87%

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Frequently asked questions

Is Asia File Corporation (7129) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 0.5400 MYR versus a price of 1.30 MYR, about −58% (overvalued).
What is the fair value of 7129?
Our model-based fair value for Asia File Corporation is 0.5400 MYR (as of Jul 17, 2026), built from audited fundamentals. The current price is 1.30 MYR.
What is the quality score of 7129?
Asia File Corporation has a Quality Score of 67/100. 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 Asia File Corporation (7129)?
Asia File Corporation reported trailing-twelve-month revenue of about 239M MYR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 7129?
The net profit margin of Asia File Corporation is about 2.0%, meaning it keeps roughly 2.0% of revenue as net income. Based on the latest reported figures.
Does Asia File Corporation pay a dividend?
Asia File Corporation currently shows a dividend yield of about 1.56% 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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