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PGF Capital Berhad, (8117) Fair Value & Analysis

Basic Materials · MY · Market cap 340M MYR

PC PGF Capital Berhad, 8117 · KLSE
Price1.79 MYR
Fair Value2.27 MYR
Upside+26.8%
Quality50/100
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Expensive Growth
Solidly profitable · 14.5% net margin
Low debt · negative free cash flow
1.94% dividend yield
Ranks above peers (9/13)
Moderate moat 58/100
Evidence: High Range 1.70 MYR – 2.84 MYR Share as image

Fair value as of: Jul 17, 2026

From 16 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from 2.28 MYR to 2.27 MYR (−0.4%) since Jul 12, 2026. Share price −0.6% over the past month.

A solid business, screening 27% undervalued on our models.

What matters now

  • Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from 1.70 MYR (bear) to 2.84 MYR (bull), base 2.27 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 50/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

2.37 MYR 0.5297 MYR Fair Value 2.27 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 0.5297 MYR – 2.37 MYR · fair‑value band 1.70 MYR – 2.84 MYR · the 1.79 MYR price screens below the 2.27 MYR fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

PGF Capital Berhad, (8117) currently trades at 1.79 MYR, while our model-based Fair Value estimate is 2.27 MYR, implying the stock looks roughly 26.8% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Basic Materials 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, PGF Capital Berhad, generated revenue of 168M MYR at a net margin of 15.5%. Revenue declined 32.5% year over year. It earns a return on equity of 9.5%. Net debt stands at 112M MYR. Fundamentals as of Jul 17, 2026

Our scenario range runs from 1.70 MYR (bear case) to 2.84 MYR (bull case); at 1.79 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 10% below its 52-week high and 22% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 27%, 8117 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 1.18 MYR 1.26 MYR 1.40 MYR 76
ROIC Compounder 2.15 MYR 3.00 MYR 3.99 MYR 72
Gordon GGM 0.0800 MYR 0.1400 MYR 0.1900 MYR 70
All 16 models by family
Earnings-Based
Graham-Dodd 0.9100 MYR 5.09 MYR 7.07 MYR 54
Lynch FV 1.42 MYR 2.03 MYR 2.64 MYR 50
PEG = 1.0 1.42 MYR 2.03 MYR 2.64 MYR 46
EPV 1.93 MYR 2.26 MYR 2.53 MYR 59
Dividend Discount
Gordon GGM 0.0800 MYR 0.1400 MYR 0.1900 MYR 70
DDM Multi-Stage 0.0800 MYR 0.1300 MYR 0.1500 MYR 61
Multiples
P/E Multiple 1.70 MYR 2.27 MYR 2.84 MYR 63
P/S Multiple 0.9700 MYR 1.30 MYR 1.62 MYR 58
P/B Multiple 1.70 MYR 2.27 MYR 2.84 MYR 55
EV/EBIT 3.04 MYR 4.21 MYR 5.39 MYR 53
EV/EBITDA 2.50 MYR 3.49 MYR 4.48 MYR 54
EV/Revenue 0.4200 MYR 0.8100 MYR 1.20 MYR 43
Asset-Based
NCAV (Graham) 0.7400 MYR 0.9900 MYR 1.48 MYR 50
Economic Profit
Residual Income 1.18 MYR 1.26 MYR 1.40 MYR 76
ROIC Compounder 2.15 MYR 3.00 MYR 3.99 MYR 72
Growth Earnings
Growth-Adj P/E 1.94 MYR 2.77 MYR 3.60 MYR 68

Widest divergence: Growth Earnings (2.77 MYR) versus Dividend Discount (0.1300 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 178M MYR
Revenue growth (YoY) -13.8%
Net margin 14.5%
Return on equity 9.4%
Free cash flow −75.8M MYR FY2026
P/E ratio 14.6
More key figures
Operating margin 23.7%
EPS (TTM) 0.1200 MYR
Dividend yield 1.9%
EPS growth (YoY) -43.1%
Net debt 112M MYR FY2026

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

Quality Score breakdown

Overall quality 50/100

Of which business quality 50 · Market factors (momentum, volatility) 59

Profitability 40
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 43
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 13
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 57
Distance to the 52-week high (market factor)
Net Issuance 90
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

PGF Capital Berhad, together with its subsidiaries, engages in the manufacture and trading of fiber glasswool and related products primarily in Malaysia, Oceania, and internationally. It operates through the Insulation, Property Development, Investment Holding, and Others segments.

Full company description

PGF Capital Berhad, together with its subsidiaries, engages in the manufacture and trading of fiber glasswool and related products primarily in Malaysia, Oceania, and internationally. It operates through the Insulation, Property Development, Investment Holding, and Others segments. The company manufactures glass mineral wool products using thermosetting resin under the Ecowool brand; acoustic panels; fire-resistant doors; silencing equipment for power generators; and noise barriers along transport infrastructure. It is also involved in the operation of integrated manufacturing, warehousing facilities, and plantations of tropical fruits, as well as the trade and manufacture of melt-blown non-woven fabric and building and hygiene related products. The company was formerly known as Poly Glass Fibre (M) Bhd and changed its name to PGF Capital Berhad in January 2022. PGF Capital Berhad was incorporated in 1978 and is headquartered in Perai, Malaysia.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

PGF Capital Berhad, reported revenue of 168M MYR in FY2026 versus 57.6M MYR in FY2022, a compound +30.7%/yr. Reported net income was 25.9M MYR in FY2026, compounding +91.1%/yr from FY2022.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
168M MYR
Latest YoY
+8.4%
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.
+22.6%
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.
+20.9%
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.
+13.1%
Revenue +30.7%/yr
FY22 57.6M MYR
FY23 91.1M MYR
FY24 129M MYR
FY25 155M MYR
FY26 168M MYR
Net income +91.1%/yr
FY22 1.9M MYR
FY23 16.3M MYR
FY24 10.5M MYR
FY25 33.9M MYR
FY26 25.9M MYR

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Cite: Fair Value Calculator (2026). "PGF Capital Berhad, Fair Value". https://www.fairvalue-calculator.com/stock/8117

Peer Group

Building Materials · 253 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 50 · Below median
Fair Value upside +27% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 24% · Top 25%
Revenue growth -14% · Bottom 25%
Dividend yield (TTM) 1.9% · Below median
Debt / equity 0.45× · Higher than 75% of peers

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 14.6× · Cheaper than median
P/B 0.29× · Cheaper than median
P/S (TTM) 0.47× · Cheaper than median
EV/EBITDA 3.7× · 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 69 · sector 27
FUTURE 0 · sector 2
PAST 38 · sector 15
HEALTH 77 · sector 92
DIVIDEND 39 · sector 42

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 Materials stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is PGF Capital Berhad, (8117) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 2.27 MYR versus a price of 1.79 MYR, about +27% (undervalued).
What is the fair value of 8117?
Our model-based fair value for PGF Capital Berhad, is 2.27 MYR (as of Jul 17, 2026), built from audited fundamentals. The current price is 1.79 MYR.
What is the quality score of 8117?
PGF Capital Berhad, has a Quality Score of 50/100. 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 PGF Capital Berhad, (8117)?
PGF Capital Berhad, reported trailing-twelve-month revenue of about 168M MYR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 8117?
The net profit margin of PGF Capital Berhad, is about 15.5%, meaning it keeps roughly 15.5% of revenue as net income. Based on the latest reported figures.
Does PGF Capital Berhad, pay a dividend?
PGF Capital Berhad, currently shows a dividend yield of about 2.30% 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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