MESB Bhd (7234) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of MESB Bhd MYR 0.35, price MYR 0.27, upside +29.6%, quality 51 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 0.2300 MYR – 0.6650 MYR · fair‑value band 0.2600 MYR – 0.4400 MYR · the 0.2700 MYR price screens below the 0.3500 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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Lotus Circular Berhad an investment holding company, engages in trading and retailing of leather products and apparel in Malaysia. It offers ladies' handbags and wallets; gents' leatherware, small leather goods, and accessories; and apparel for men and children.
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Lotus Circular Berhad an investment holding company, engages in trading and retailing of leather products and apparel in Malaysia. It offers ladies' handbags and wallets; gents' leatherware, small leather goods, and accessories; and apparel for men and children. The company also holds licenses to design, source, and market brands, such as Alain Delon, Pierre Cardin, Crocodile, and Féraud, as well as Tocco, Ducati, and its in-house brands, Giossardi and Giamax. In addition, it is involved in the waste recycling business; provision of slitting services and trim waste sales; wholesale of metal and non-metal waste, and scrap and materials for recycling; and sale and purchase of recycling material. The company was formerly known as MESB Berhad and changed its name to Lotus Circular Berhad in December 2024. Lotus Circular Berhad was incorporated in 1995 and is based in Seri Kembangan, Malaysia.
Stock analysis
MESB Bhd (7234) currently trades at 0.2700 MYR, while our model-based Fair Value estimate is 0.3500 MYR, implying the stock looks roughly 22.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 0.4500 MYR per share, and 16 of the 24 models we run sit above the 0.2700 MYR price.
Bear case: the Earnings-Based group reads lowest at 0.1500 MYR, and 8 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.2600 MYR (bear) to 0.4400 MYR (bull), the price of 0.2700 MYR sits inside 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 51/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
MESB Bhd reported revenue of 208M MYR in FY2025 versus 137M MYR in FY2021, a compound +11.1%/yr. Reported net income was 4.8M MYR in FY2025, compounding −15.1%/yr from FY2021.
Key figures
Market cap 85.8M MYR (≈ $21.0M) · P/E ratio 27.0 · P/S ratio 0.62 · EPS (TTM) 0.0100 MYR · Net margin 2.3% · Return on equity 2.9% · Return on assets (EBIT) 9.8% · Operating margin 4.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 30%, 7234 screens cheaper than that median.
Fair Value models
Bear 0.2600 MYRFair Value 0.3500 MYRBull 0.4400 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 12 months old). Earnings retained since then (0.0100 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.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+10.9%
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.
+9.5%
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.
+7.1%
Start year 2020 (pandemic). Over 10 years: +9.1% a year
Revenue growth 12 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.
+7.4%
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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.
−18.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.0%
Dividend (yield on the price)0.0%
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.−18% vs 5%, 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.−17% → 4%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 3.8%/yr over ~7Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
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.Apparel Retail · 105 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+30% · Above median
Profitability
Return on equity (TTM)3% · Below median
Return on assets2% · Below median
Net margin (TTM)2% · Below median
Operating margin (TTM)4% · Above median
Growth and dividend
Revenue growth30% · Top 25%
Valuation Multiplesvs Apparel Retail median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "MESB Bhd Fair Value". https://www.fairvalue-calculator.com/stock/7234
Frequently asked questions
Is MESB Bhd (7234) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.3500 MYR versus a price of 0.2700 MYR, about +30% upside (undervalued).
What is the fair value of 7234?
Our model-based fair value for MESB Bhd is 0.3500 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.2700 MYR.
What is the quality score of 7234?
MESB Bhd has a Quality Score of 51/100. 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 MESB Bhd (7234)?
Our model-based price target is the fair value of 0.3500 MYR (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 0.2600 MYR, optimistic scenario 0.4400 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the MESB Bhd stock forecast for 2026?
Our models put fair value at 0.3500 MYR, about +30% upside versus a price of 0.2700 MYR (undervalued). Cautious scenario 0.2600 MYR, optimistic scenario 0.4400 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of MESB Bhd (7234)?
MESB Bhd reported trailing-twelve-month revenue of about 210M MYR (latest available figure, as of Sep 24, 2026).
What growth is priced into MESB Bhd (7234)?
For today's price to be fair in a discounted-cash-flow model, MESB Bhd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 7234 use?
Our models discount MESB Bhd at 9.7 %: a base by market capitalisation (nano), damped by beta 0.18, 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 MESB Bhd that is less than minus 40 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has MESB Bhd (7234) delivered so far?
Over the past 5 years revenue at MESB Bhd grew +7.1 % a year. The price currently implies less than minus 40 % 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 MESB Bhd (7234) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into MESB Bhd (less than minus 40 % 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 MESB Bhd (7234)?
The free-cash-flow yield on the price is 12.41 %: that much free cash flow MESB Bhd produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of MESB Bhd (7234)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MESB Bhd it is 0.3500 MYR per share (as of Sep 24, 2026), against a price of 0.2700 MYR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is MESB Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 7234 trades below its calculated fair value: price 0.2700 MYR, fair value 0.3500 MYR, a gap of about +30% (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 7234?
No. The price is what the market pays today (0.2700 MYR); the fair value is what the company's own numbers justify (0.3500 MYR). For MESB Bhd the two are 0.0800 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is MESB Bhd worth?
The market values MESB Bhd at about 85.8M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 0.2700 MYR; our models calculate a fair value of 0.3500 MYR per share.
What do the bullish and bearish scenarios say about 7234?
Our models span a range for MESB Bhd: cautious scenario 0.2600 MYR, base 0.3500 MYR, optimistic 0.4400 MYR per share (as of Sep 24, 2026, price 0.2700 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 7234?
MESB Bhd trades at a price-to-earnings ratio of 27.0 (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 0.3500 MYR is built from several models across several years. Other multiples: P/B 0.7, P/S 0.4, EV/EBITDA 5.9.
How solid is the balance sheet of MESB Bhd (7234)?
Balance-sheet figures for MESB Bhd (as of Sep 24, 2026): return on equity 2.9%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 7234 from its 52-week high?
MESB Bhd trades at 0.2700 MYR, about 29% below its 52-week high of 0.3800 MYR and 17% above the low of 0.2300 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.3500 MYR is for.
Which stocks are comparable to MESB Bhd?
From the same area (Consumer Cyclical) we also value Industria de Diseño Textil, S.A, Fast Retailing Co, The TJX Companies, Inc, Ross Stores, Inc, 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 MESB Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 0.2700 MYR, calculated fair value 0.3500 MYR (+30%), Quality Score 51/100, from 24 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 7234 calculated?
We run MESB Bhd through 24 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 0.3500 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 14.0 % above its aggregate fair value. MESB Bhd currently trades 30 % 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 MESB Bhd (7234)?
The closing price on Sep 24, 2026 was 0.2700 MYR. Our model-based fair value is 0.3500 MYR, about +30% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MESB Bhd right now?
Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of MESB Bhd
How large is the market capitalisation of MESB Bhd (7234)?
The market capitalisation of MESB Bhd is 85.8M MYR (≈ $21.0M). 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 MESB Bhd (7234)?
The price-to-sales ratio of MESB Bhd is 0.62 (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 MESB Bhd (7234)?
Earnings per share at MESB Bhd are 0.0100 MYR (price ÷ EPS = P/E 27.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of MESB Bhd (7234)?
The net margin of MESB Bhd is 2.3% (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 MESB Bhd (7234)?
The return on equity (ROE) of MESB Bhd is 2.9% (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 MESB Bhd (7234)?
On an EBIT basis the return on assets of MESB Bhd is 9.8% (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 MESB Bhd (7234)?
The operating margin of MESB Bhd is 4.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MESB Bhd (7234)?
Revenue at MESB Bhd is growing +30.0% versus a year earlier (3y avg +9.5%). 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 MESB Bhd (7234)?
Earnings per share at MESB Bhd are growing −88.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does MESB Bhd (7234) carry?
The net debt of MESB Bhd is 11.6M MYR (fiscal year 2020, ≈ 2.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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