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Wellcall Holdings (7231) Fair Value & Analysis

Consumer Cyclical · MY · Market cap 558M MYR

WH Wellcall Holdings 7231 · KLSE
Price1.14 MYR
Fair Value1.44 MYR
Upside+26.3%
Quality82/100
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Mixed Growth
Highly profitable · 22.3% net margin
Low debt · generates free cash flow
6.07% dividend yield
Ranks above peers (12/14)
Wide moat 85/100
Evidence: High Range 1.03 MYR – 1.95 MYR Share as image

Fair value as of: Jul 16, 2026

From 25 valuation models · updated 25 days ago

Share price +1.8% over the past month.

A strong business, screening 26% undervalued on our models.

What matters now

  • The rarer combination: high quality (82/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (1.03 MYR to 1.95 MYR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

1.65 MYR 0.7723 MYR Fair Value 1.44 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 0.7723 MYR – 1.65 MYR · fair‑value band 1.03 MYR – 1.95 MYR · the 1.14 MYR price screens below the 1.44 MYR fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Wellcall Holdings (7231) currently trades at 1.14 MYR, while our model-based Fair Value estimate is 1.44 MYR, implying the stock looks roughly 26.3% undervalued today. The Quality Score stands at 82/100 (high 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, Wellcall Holdings generated revenue of 175M MYR at a net margin of 22.3%. Revenue declined 11.6% year over year. It earns a return on equity of 27.0%. The balance sheet holds a net cash position of 44.1M MYR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 1.03 MYR (bear case) to 1.95 MYR (bull case); at 1.14 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 23% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 26%, 7231 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 0.9200 MYR 1.18 MYR 1.50 MYR 80
Residual Income 0.4800 MYR 0.5700 MYR 1.49 MYR 76
Rev-Margin DCF 0.6000 MYR 0.7800 MYR 0.9800 MYR 74
All 25 models by family
DCF Models
FCF DCF 0.9100 MYR 1.20 MYR 1.56 MYR 38
Owner Earnings 0.9300 MYR 1.23 MYR 1.60 MYR 31
5Y Revenue Exit 0.6000 MYR 0.7600 MYR 0.9500 MYR 39
5Y EBITDA Exit 1.00 MYR 1.47 MYR 2.01 MYR 41
5Y P/E Exit 1.22 MYR 1.87 MYR 2.51 MYR 38
10Y Revenue Exit 0.7100 MYR 0.8800 MYR 1.07 MYR 36
10Y EBITDA Exit 0.9500 MYR 1.32 MYR 1.77 MYR 37
10Y P/E Exit 1.08 MYR 1.56 MYR 2.11 MYR 35
Earnings-Based
Graham-Dodd 0.6400 MYR 1.53 MYR 1.98 MYR 54
PEG = 1.0 0.2700 MYR 0.3900 MYR 0.5000 MYR 46
EPV 0.7600 MYR 0.8500 MYR 0.9300 MYR 59
Dividend Discount
Gordon GGM 0.6100 MYR 0.9700 MYR 1.34 MYR 70
DDM Multi-Stage 0.6100 MYR 0.8500 MYR 1.09 MYR 61
Multiples
P/E Multiple 1.54 MYR 2.06 MYR 2.57 MYR 63
P/S Multiple 0.3300 MYR 0.4400 MYR 0.5600 MYR 58
P/B Multiple 0.9100 MYR 1.21 MYR 1.51 MYR 55
EV/EBIT 1.60 MYR 2.11 MYR 2.61 MYR 53
EV/EBITDA 1.20 MYR 1.58 MYR 1.95 MYR 54
EV/Revenue 0.4000 MYR 0.5300 MYR 0.6700 MYR 43
Asset-Based
NCAV (Graham) 0.1500 MYR 0.2000 MYR 0.3000 MYR 50
Growth DCF
Growth DCF 0.9200 MYR 1.18 MYR 1.50 MYR 80
Rev-Margin DCF 0.6000 MYR 0.7800 MYR 0.9800 MYR 74
Economic Profit
Residual Income 0.4800 MYR 0.5700 MYR 1.49 MYR 76
ROIC Compounder 0.7800 MYR 0.9000 MYR 1.01 MYR 72
Growth Earnings
Growth-Adj P/E 1.17 MYR 1.68 MYR 2.18 MYR 68

Widest divergence: Growth Earnings (1.68 MYR) versus Asset-Based (0.2000 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 175M MYR
Revenue growth (YoY) -11.6%
Net margin 22.3%
Return on equity 27.0%
Free cash flow 45.8M MYR FY2025
P/E ratio 14.0
More key figures
Operating margin 24.4%
EPS (TTM) 0.0800 MYR
Dividend yield 6.1%
EPS growth (YoY) -13.4%
Net cash 44.1M MYR FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 82/100

Of which business quality 80 · Market factors (momentum, volatility) 47

Profitability 91
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 98
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 17
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

Wellcall Holdings Berhad, an investment holding company, engages in the manufacturing and sales of rubber hose and related products.

Full company description

Wellcall Holdings Berhad, an investment holding company, engages in the manufacturing and sales of rubber hose and related products. It offers fire fighting, lay flat water discharge, washdown, water discharge, water, and water suction and discharge hoses; air, compressed air, and hot air hoses; and dock, fuel/oil discharge, fuel/oil, fuel/oil suction and discharge, low pressure textile braided, low temperature tank truck, oil return, and tank truck hoses. In addition, the company provides LPG, single line welding, and twin line welding hoses; air brake, car heater, and radiator hoses; air seeder, bulk materials discharge, bulk materials suction and discharge, industrial vacuum, and sandblast hoses; chemical discharge, chemical suction and discharge, UHMWPE and XLPE chemical discharge, and UHMWPE and XLPE chemical suction and discharge; hoses for fatty and non-fatty foods; marine fuel and wet exhaust hoses; and freon gas, multipurpose, and protective cover hoses. Further, it is involved in property investment and other related activities. The company serves various markets, including air and water, oil, bulk material, welding, chemical, food grade, marine, automotive, and other markets. It operates in Malaysia, the Middle East, Europe, the United States of America/Canada, Australia/New Zealand, Asia, South America, and Africa. Wellcall Holdings Berhad was founded in 1995 and is based in Pusing, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wellcall Holdings reported revenue of 184M MYR in FY2025 versus 157M MYR in FY2021, a compound +4.1%/yr. Reported net income was 46.6M MYR in FY2025, compounding +8.1%/yr from FY2021.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
184M MYR
Latest YoY
−12.0%
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.
+1.4%
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.
+6.4%
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.
+1.4%
Revenue +4.1%/yr
FY21 157M MYR
FY22 177M MYR
FY23 217M MYR
FY24 209M MYR
FY25 184M MYR
Net income +8.1%/yr
FY21 34.2M MYR
FY22 33.3M MYR
FY23 55.3M MYR
FY24 46.9M MYR
FY25 46.6M MYR

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Cite: Fair Value Calculator (2026). "Wellcall Holdings Fair Value". https://www.fairvalue-calculator.com/stock/7231

Peer Group

Auto Parts · 642 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 82 · Top 25%
Fair Value upside +26% · Above median
Return on equity (TTM) 27% · Top 25%
Return on assets 18% · Top 25%
Net margin (TTM) 22% · Top 25%
Operating margin (TTM) 24% · Top 25%
Revenue growth -12% · Bottom 25%
Dividend yield (TTM) 6.1% · Top 25%

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 14.0× · Cheaper than median
P/B 0.90× · Cheaper than median
P/S (TTM) 0.78× · Cheaper than median
P/FCF 3.0× · Pricier than median
EV/EBITDA 1.7× · 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 68 · sector 16
FUTURE 0 · sector 23
PAST 100 · sector 26
HEALTH 100 · sector 95
DIVIDEND 100 · sector 30

Insider activity: 45/100

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.

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Frequently asked questions

Is Wellcall Holdings (7231) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 1.44 MYR versus a price of 1.14 MYR, about +26% (undervalued).
What is the fair value of 7231?
Our model-based fair value for Wellcall Holdings is 1.44 MYR (as of Jul 16, 2026), built from audited fundamentals. The current price is 1.14 MYR.
What is the quality score of 7231?
Wellcall Holdings has a Quality Score of 82/100. 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 Wellcall Holdings (7231)?
Wellcall Holdings reported trailing-twelve-month revenue of about 175M MYR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of 7231?
The net profit margin of Wellcall Holdings is about 22.3%, meaning it keeps roughly 22.3% of revenue as net income. Based on the latest reported figures.
Does Wellcall Holdings pay a dividend?
Wellcall Holdings currently shows a dividend yield of about 5.81% relative to its recent price (as of Jul 16, 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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