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WaveFront Berhad, an investment holding company, (8176) Fair Value & Analysis

Technology · MY · Market cap 150M MYR

WB WaveFront Berhad, an investment holding company, 8176 · KLSE
Price0.1450 MYR
Fair Value0.2100 MYR
Upside+44.8%
Quality66/100
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Weak Growth
Loss-making · -1.3% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/11)
Narrow moat 19/100
Evidence: Medium Range 0.1800 MYR – 0.2600 MYR Share as image

Fair value as of: Jul 15, 2026

From 13 valuation models · updated 26 days ago

Share price +20.8% over the past month.

A solid business, screening 45% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.1800 MYR). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) 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)

3.33 MYR 0.1050 MYR Fair Value 0.2100 MYR Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 0.1050 MYR – 3.33 MYR · fair‑value band 0.1800 MYR – 0.2600 MYR · the 0.1450 MYR price screens below the 0.2100 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

WaveFront Berhad, an investment holding company, (8176) currently trades at 0.1450 MYR, while our model-based Fair Value estimate is 0.2100 MYR, implying the stock looks roughly 44.8% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Technology 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: medium), always confirm before acting.

Over the trailing twelve months, WaveFront Berhad, an investment holding company, generated revenue of 337M MYR at a net margin of -1.3%. Revenue declined 7.5% year over year. It earns a return on equity of -1.1%. The balance sheet holds a net cash position of 176M MYR. Fundamentals as of Jul 15, 2026

Our scenario range runs from 0.1800 MYR (bear case) to 0.2600 MYR (bull case); at 0.1450 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 51% below its 52-week high and 45% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 45%, 8176 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 0.4700 MYR 0.6500 MYR 0.9300 MYR 80
Rev-Margin DCF 0.4900 MYR 0.7100 MYR 1.18 MYR 74
Gordon GGM 0.2300 MYR 0.3900 MYR 0.5100 MYR 70
All 13 models by family
DCF Models
FCF DCF 0.4900 MYR 0.6200 MYR 0.9800 MYR 38
Owner Earnings 0.2000 MYR 0.2200 MYR 0.2400 MYR 31
5Y Revenue Exit 0.4600 MYR 0.6500 MYR 1.03 MYR 39
5Y EBITDA Exit 0.3100 MYR 0.3500 MYR 0.4300 MYR 41
10Y Revenue Exit 0.4600 MYR 0.7500 MYR 0.9300 MYR 36
10Y EBITDA Exit 0.3800 MYR 0.4900 MYR 0.6300 MYR 37
Dividend Discount
Gordon GGM 0.2300 MYR 0.3900 MYR 0.5100 MYR 70
DDM Multi-Stage 0.2300 MYR 0.3700 MYR 0.4200 MYR 61
Multiples
EV/EBITDA 0.2100 MYR 0.2200 MYR 0.2300 MYR 54
EV/Revenue 0.4200 MYR 0.5200 MYR 0.6300 MYR 43
Asset-Based
NCAV (Graham) 0.1500 MYR 0.2100 MYR 0.3100 MYR 50
Growth DCF
Growth DCF 0.4700 MYR 0.6500 MYR 0.9300 MYR 80
Rev-Margin DCF 0.4900 MYR 0.7100 MYR 1.18 MYR 74

Widest divergence: Growth DCF (0.6500 MYR) versus Asset-Based (0.2100 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 337M MYR
Revenue growth (YoY) -7.5%
Net margin -1.3%
Return on equity -1.1%
Free cash flow 31.4M MYR FY2026
Operating margin -2.5%
More key figures
EPS growth (YoY) -99.6%
Net cash 176M MYR FY2026

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 66 · Market factors (momentum, volatility) 28

Profitability 16
Margins and returns on capital today
Quality Growth 71
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 34
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 12
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

WaveFront Berhad, an investment holding company, provides electronics manufacturing services in Malaysia. It offers vertically integrated solutions, including design and engineering, mold design and fabrication, plastic injection molding, and box-build assembly.

Full company description

WaveFront Berhad, an investment holding company, provides electronics manufacturing services in Malaysia. It offers vertically integrated solutions, including design and engineering, mold design and fabrication, plastic injection molding, and box-build assembly. The company is also involved in the manufacture and sale of precision plastic injection molded parts, electrical and electronic components and products, filter systems and other related products, and metal stamping; secondary process, sub-assembly, and full assembly of finished products to the electronic industry; tooling fabrication; wholesale and retail of foodstuff and consumer goods; and manufacture of home appliances, including vacuum cleaner, fan humidifier, purifier, heater fan, and lighting product, as well as secondary processes, such as silk screen and spray printing. It serves the consumer, industrial, healthcare, and automotive solutions industries. The company was formerly known as ATA IMS Berhad and changed its name to WAVEFRONT Berhad in June 2025. WaveFront Berhad was founded in 1972 and is headquartered in Johor Bahru, Malaysia.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

WaveFront Berhad, an investment holding company, reported revenue of 337M MYR in FY2026 versus 2.6B MYR in FY2022, a compound −40.0%/yr. Reported net income was −4.2M MYR in FY2026.

Growth Quality 29/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
337M MYR
Latest YoY
+22.9%
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.
−28.3%
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.
−39.7%
Avg. growth/yr (20Y) 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.
+5.4%
Revenue −40.0%/yr
FY22 2.6B MYR
FY23 916M MYR
FY24 400M MYR
FY25 275M MYR
FY26 337M MYR
Net income
FY22 −12.2M MYR
FY23 −255M MYR
FY24 −105M MYR
FY25 −4.4M MYR
FY26 −4.2M MYR

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Cite: Fair Value Calculator (2026). "WaveFront Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/8176

Peer Group

Electronic Components · 625 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 66 · Top 25%
Fair Value upside +45% · Top 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) -2% · Bottom 25%
Revenue growth -8% · Bottom 25%
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/B 0.10× · Cheaper than 75% of peers
P/S (TTM) 0.11× · Cheaper than 75% of peers
P/FCF 1.2× · 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 93 · sector 0
FUTURE 0 · sector 32
PAST 0 · sector 24
HEALTH 96 · sector 95
DIVIDEND 0 · sector 25

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is WaveFront Berhad, an investment holding company, (8176) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 0.2100 MYR versus a price of 0.1450 MYR, about +45% (undervalued).
What is the fair value of 8176?
Our model-based fair value for WaveFront Berhad, an investment holding company, is 0.2100 MYR (as of Jul 15, 2026), built from audited fundamentals. The current price is 0.1450 MYR.
What is the quality score of 8176?
WaveFront Berhad, an investment holding company, has a Quality Score of 66/100. 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 WaveFront Berhad, an investment holding company, (8176)?
WaveFront Berhad, an investment holding company, reported trailing-twelve-month revenue of about 337M MYR (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 8176?
The net profit margin of WaveFront Berhad, an investment holding company, is about -1.3%, meaning it is currently running at a net loss. 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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