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Ajiya Berhad, an investment holding company, (7609) Fair Value & Analysis

Industrials · MY · Market cap 554M MYR

AB Ajiya Berhad, an investment holding company, 7609 · KLSE
Price0.9850 MYR
Fair Value0.9100 MYR
Upside-7.6%
Quality38/100
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Expensive Growth
Solidly profitable · 15.2% net margin
Low debt · negative free cash flow
Mixed vs. peers (7/12)
Narrow moat 35/100
Evidence: High Range 0.7600 MYR – 0.9500 MYR Share as image

Fair value as of: Jul 17, 2026

From 15 valuation models · updated 24 days ago

Share price −2.5% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits above even our optimistic bull case (0.9500 MYR). The favourable scenario is already priced in.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
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Price vs Fair Value (5 years)

1.24 MYR 0.2502 MYR Fair Value 0.9100 MYR Jan 2021 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 0.2502 MYR – 1.24 MYR · fair‑value band 0.7600 MYR – 0.9500 MYR · the 0.9850 MYR price screens above the 0.9100 MYR fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Ajiya Berhad, an investment holding company, (7609) currently trades at 0.9850 MYR, while our model-based Fair Value estimate is 0.9100 MYR, implying the stock looks roughly 7.6% fairly valued today. The Quality Score stands at 38/100 (below-average 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, Ajiya Berhad, an investment holding company, generated revenue of 283M MYR at a net margin of 15.2%. Revenue declined 29.3% year over year. It earns a return on equity of 5.8%. The stock trades on a trailing P/E of 12.6. Fundamentals as of Jul 17, 2026

Our scenario range runs from 0.7600 MYR (bear case) to 0.9500 MYR (bull case); at 0.9850 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 24% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -33% fair-value upside, at -8%, 7609 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 0.8600 MYR 0.8500 MYR 0.7800 MYR 76
ROIC Compounder 0.6800 MYR 0.7600 MYR 0.8300 MYR 72
Gordon GGM 0.0100 MYR 0.0100 MYR 0.0100 MYR 70
All 15 models by family
DCF Models
Owner Earnings 0.5800 MYR 0.7300 MYR 0.9800 MYR 31
Earnings-Based
Graham-Dodd 0.4700 MYR 0.6200 MYR 0.7100 MYR 54
EPV 0.6800 MYR 0.7600 MYR 0.8300 MYR 59
Dividend Discount
Gordon GGM 0.0100 MYR 0.0100 MYR 0.0100 MYR 70
DDM Multi-Stage 0.0100 MYR 0.0100 MYR 0.0100 MYR 61
Multiples
P/E Multiple 1.08 MYR 1.44 MYR 1.80 MYR 63
P/S Multiple 0.8400 MYR 1.12 MYR 1.40 MYR 58
P/B Multiple 0.8700 MYR 1.16 MYR 1.46 MYR 55
EV/EBIT 1.18 MYR 1.54 MYR 1.91 MYR 53
EV/EBITDA 1.08 MYR 1.41 MYR 1.74 MYR 54
EV/Revenue 0.7800 MYR 1.08 MYR 1.39 MYR 43
Asset-Based
NCAV (Graham) 0.5900 MYR 0.7900 MYR 1.18 MYR 50
Economic Profit
Residual Income 0.8600 MYR 0.8500 MYR 0.7800 MYR 76
ROIC Compounder 0.6800 MYR 0.7600 MYR 0.8300 MYR 72
Growth Earnings
Growth-Adj P/E 0.7600 MYR 1.09 MYR 1.42 MYR 68

Widest divergence: Multiples (1.16 MYR) versus Dividend Discount (0.0100 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 283M MYR
Revenue growth (YoY) -29.3%
Net margin 15.2%
Return on equity 5.8%
Free cash flow −25.7M MYR FY2025
P/E ratio 12.6
More key figures
Operating margin -5.2%
EPS (TTM) 0.0800 MYR
EPS growth (YoY) +95.9%

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

Quality Score breakdown

Overall quality 38/100

Of which business quality 39 · Market factors (momentum, volatility) 57

Profitability 33
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 50
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

Ajiya Berhad, an investment holding company, manufactures and trades in roofing materials and various glasses in Malaysia and Thailand. It operates through Metal and Glass divisions.

Full company description

Ajiya Berhad, an investment holding company, manufactures and trades in roofing materials and various glasses in Malaysia and Thailand. It operates through Metal and Glass divisions. The company offers metal roofing system, PU green series, steel truss system, structural products, metal door and window frame, metal sunshade/louvres, metal ceiling, metal tiles, industrial metal roofing sheets, wall claddings, metal frame, architectural products, and IBS-aligned building solutions. It also provides tempered glass, laminated glass, low-e coated glass, and insulated glass units (IGU) for architectural and construction applications; and decorative safety glass, security safety and storm protection safety glass, heat strengthened glass, curved tempered safety glass and attoch products for industrial, commercial, recreational, office, and residential buildings, as well as furniture and white goods. In addition, the company manufactures, trades in, and markets metal roll forming products; manufactures and sells metal, zinc, and aluminum products for roof building, ceiling, building materials, and other similar products. Further, it is involved in the property holding activities; trading of building materials; and retail sale of construction materials, hardware, paints, and glass. It offers its products under the AJIYA brand name. The company was incorporated in 1990 and is based in Segamat, Malaysia. Ajiya Berhad operates as a subsidiary of Chin Hin Group Berhad.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ajiya Berhad, an investment holding company, reported revenue of 306M MYR in FY2025 versus 269M MYR in FY2021, a compound +3.4%/yr. Reported net income was 37.6M MYR in FY2025, compounding +21.0%/yr from FY2021.

Growth Quality 33/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
306M MYR
Latest YoY
−19.7%
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.
+3.8%
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.
−1.6%
Revenue +3.4%/yr
FY21 269M MYR
FY22 294M MYR
FY23 305M MYR
FY24 381M MYR
FY25 306M MYR
Net income +21.0%/yr
FY21 17.5M MYR
FY22 29.4M MYR
FY23 56.3M MYR
FY24 62.6M MYR
FY25 37.6M MYR

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Cite: Fair Value Calculator (2026). "Ajiya Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/7609

Peer Group

Building Products & Equipment · 247 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 38 · Bottom 25%
Fair Value upside −8% · Above median
Return on equity (TTM) 6% · Above median
Return on assets 0% · Bottom 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) -5% · Bottom 25%
Revenue growth -29% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/E (TTM) 12.6× · Cheaper than median
P/B 0.21× · Cheaper than 75% of peers
P/S (TTM) 0.48× · 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 23 · sector 3
FUTURE 0 · sector 9
PAST 23 · sector 23
HEALTH 100 · sector 94
DIVIDEND 0 · sector 28

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

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $469.98 $212.34 -55%
Johnson Controls International plc JCI $142.81 $45.65 -68%
Carrier Global Corporation CARR $68.61 $17.35 -75%
Compagnie de Saint-Gobain S.A SGO €76.62 €101.60 +33%
Geberit AG GEBN CHF 523.20 CHF 307.66 -41%
Lennox International Inc LII $543.93 $363.09 -33%
Kingspan Group KRX €87.30 €70.76 -19%
Masco Corporation MAS $78.04 $54.36 -30%
PT Impack Pratama Industri Tbk, IMPC 1,420 IDR 179.76 IDR -87%
NIBE Industrier AB NIBEB kr 36.03 kr 25.37 -30%

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Frequently asked questions

Is Ajiya Berhad, an investment holding company, (7609) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 0.9100 MYR versus a price of 0.9850 MYR, about −8% (fairly valued).
What is the fair value of 7609?
Our model-based fair value for Ajiya Berhad, an investment holding company, is 0.9100 MYR (as of Jul 17, 2026), built from audited fundamentals. The current price is 0.9850 MYR.
What is the quality score of 7609?
Ajiya Berhad, an investment holding company, has a Quality Score of 38/100. 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 Ajiya Berhad, an investment holding company, (7609)?
Ajiya Berhad, an investment holding company, reported trailing-twelve-month revenue of about 283M MYR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 7609?
The net profit margin of Ajiya Berhad, an investment holding company, is about 15.2%, meaning it keeps roughly 15.2% 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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