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Ken Holdings (7323) Fair Value & Analysis

Industrials · MY · Market cap 82.5M MYR

KH Ken Holdings 7323 · KLSE
Price0.4500 MYR
Fair Value0.9600 MYR
Upside+113.3%
Quality68/100
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Weak Growth
Highly profitable · 29.4% net margin
generates free cash flow
Ranks above peers (8/11)
Moderate moat 53/100
Evidence: High Range 0.7200 MYR – 1.21 MYR Share as image

Fair value as of: Jul 16, 2026

From 22 valuation models · updated 25 days ago

Share price −6.3% over the past month.

A solid business, screening 113% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.7200 MYR). The market is more pessimistic than our downside scenario.
  • Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

0.8952 MYR 0.3800 MYR Fair Value 0.9600 MYR Oct 2017 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 0.3800 MYR – 0.8952 MYR · fair‑value band 0.7200 MYR – 1.21 MYR · the 0.4500 MYR price screens below the 0.9600 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Ken Holdings (7323) currently trades at 0.4500 MYR, while our model-based Fair Value estimate is 0.9600 MYR, implying the stock looks roughly 113.3% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Industrials 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, Ken Holdings generated revenue of 24.2M MYR at a net margin of 29.4%. Revenue grew 12.8% year over year. It earns a return on equity of 1.9%. Net debt stands at 2.7M MYR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 0.7200 MYR (bear case) to 1.21 MYR (bull case); at 0.4500 MYR, the current price sits below 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 22% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 113%, 7323 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
Residual Income 1.33 MYR 1.22 MYR 0.8500 MYR 76
Growth DCF 1.07 MYR 1.20 MYR 1.39 MYR 72
Growth-Adj P/E 0.5300 MYR 0.7600 MYR 0.9900 MYR 68
All 22 models by family
DCF Models
FCF DCF 1.06 MYR 1.19 MYR 1.42 MYR 38
Owner Earnings 0.9800 MYR 1.09 MYR 1.28 MYR 31
5Y Revenue Exit 0.8500 MYR 0.9300 MYR 1.04 MYR 39
5Y EBITDA Exit 1.11 MYR 1.36 MYR 1.70 MYR 41
5Y P/E Exit 1.11 MYR 1.37 MYR 1.69 MYR 38
10Y Revenue Exit 0.9500 MYR 1.01 MYR 1.07 MYR 36
10Y EBITDA Exit 1.08 MYR 1.24 MYR 1.41 MYR 37
10Y P/E Exit 1.08 MYR 1.25 MYR 1.40 MYR 35
Earnings-Based
Graham-Dodd 0.3200 MYR 0.4300 MYR 0.5000 MYR 54
EPV 0.8900 MYR 0.9300 MYR 0.9700 MYR 59
Multiples
P/E Multiple 0.7500 MYR 1.00 MYR 1.25 MYR 63
P/S Multiple 0.2000 MYR 0.2600 MYR 0.3300 MYR 58
P/B Multiple 0.6100 MYR 0.8100 MYR 1.01 MYR 55
EV/EBIT 1.26 MYR 1.50 MYR 1.75 MYR 53
EV/EBITDA 1.25 MYR 1.50 MYR 1.74 MYR 54
EV/Revenue 0.6800 MYR 0.7500 MYR 0.8300 MYR 43
Asset-Based
NCAV (Graham) 1.05 MYR 1.40 MYR 2.10 MYR 50
Growth DCF
Growth DCF 1.07 MYR 1.20 MYR 1.39 MYR 72
Rev-Margin DCF 0.8500 MYR 0.9400 MYR 1.03 MYR 67
Economic Profit
Residual Income 1.33 MYR 1.22 MYR 0.8500 MYR 76
ROIC Compounder 0.8900 MYR 0.9300 MYR 0.9700 MYR 67
Growth Earnings
Growth-Adj P/E 0.5300 MYR 0.7600 MYR 0.9900 MYR 68

Widest divergence: Asset-Based (1.40 MYR) versus Earnings-Based (0.4300 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 24.2M MYR
Revenue growth (YoY) +12.8%
Net margin 29.4%
Return on equity 1.9%
Free cash flow 13.3M MYR FY2025
P/E ratio 11.9
More key figures
Operating margin 18.7%
EPS (TTM) 0.0400 MYR
EPS growth (YoY) -50.1%
Net debt 2.7M MYR FY2017

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

Quality Score breakdown

Overall quality 68/100

Of which business quality 68 · Market factors (momentum, volatility) 39

Profitability 31
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 93
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 11
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

Ken Holdings Berhad, an investment holding company, engages in the construction, property development, and management businesses in Malaysia. It operates through three segments: Construction, Property Development, and Property Investment.

Full company description

Ken Holdings Berhad, an investment holding company, engages in the construction, property development, and management businesses in Malaysia. It operates through three segments: Construction, Property Development, and Property Investment. It provides specialist engineering, land reclamation, dredging, and marine and civil engineering services; and engages in the turnkey contracts and building and civil engineering works. The company also develops residential and commercial properties; rents investment properties; and provides car park management services. In addition, it offers property management services. The company was founded in 1980 and is headquartered in Kuala Lumpur, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ken Holdings reported revenue of 23.6M MYR in FY2025 versus 51.6M MYR in FY2021, a compound −17.8%/yr. Reported net income was 8.6M MYR in FY2025, compounding −13.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
23.6M MYR
Latest YoY
+1.6%
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.
+4.2%
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.
−6.8%
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.
−6.2%
Revenue −17.8%/yr
FY21 51.6M MYR
FY22 20.8M MYR
FY23 37.3M MYR
FY24 23.2M MYR
FY25 23.6M MYR
Net income −13.4%/yr
FY21 15.2M MYR
FY22 2.9M MYR
FY23 11.1M MYR
FY24 8.2M MYR
FY25 8.6M MYR

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Cite: Fair Value Calculator (2026). "Ken Holdings Fair Value". https://www.fairvalue-calculator.com/stock/7323

Peer Group

Engineering & Construction · 839 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 68 · Top 25%
Fair Value upside +113% · Top 25%
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 29% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth 13% · Above median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 11.5× · Cheaper than median
P/B 0.05× · Cheaper than 75% of peers
P/S (TTM) 0.83× · Pricier than median
P/FCF 1.5× · Cheaper 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 100 · sector 16
FUTURE 64 · sector 17
PAST 8 · sector 26
HEALTH 0 · sector 94
DIVIDEND 0 · sector 33

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.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Ken Holdings (7323) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 0.9600 MYR versus a price of 0.4500 MYR, about +113% (undervalued).
What is the fair value of 7323?
Our model-based fair value for Ken Holdings is 0.9600 MYR (as of Jul 16, 2026), built from audited fundamentals. The current price is 0.4500 MYR.
What is the quality score of 7323?
Ken Holdings has a Quality Score of 68/100. 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 Ken Holdings (7323)?
Ken Holdings reported trailing-twelve-month revenue of about 24.2M MYR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of 7323?
The net profit margin of Ken Holdings is about 29.4%, meaning it keeps roughly 29.4% of revenue as net income. Based on the latest reported figures.

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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