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Mercury Industries Bhd (8192) fair value: what the stock is really worth

As of Sep 21, 2026: fair value of Mercury Industries Bhd MYR 1.69, price MYR 0.63, upside +170.4%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Industrials · MY · ISIN MYL8192OO006

MI Thin data Sep 23, 2026

Mercury Industries Bhd

8192 · KLSE

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 1.69 MYR · Strongly undervalued (+170%)
!Quality 50/100
!Weak Growth (revenue 5y −25.8 %/yr)
✓Solidly profitable · 16.5% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (9/10)
!Moderate moat 63/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

2.11 MYR 0.4800 MYR Fair Value 1.69 MYR Nov 2017 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range 0.4800 MYR – 2.11 MYR · fair‑value band 1.06 MYR – 1.85 MYR · the 0.6250 MYR price screens below the 1.69 MYR fair value. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Mercury Industries Berhad, an investment holding company, engages in the civil and building construction works in Malaysia and internationally. The company operates through Construction, Trading, and Property Development segments.

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Mercury Industries Berhad, an investment holding company, engages in the civil and building construction works in Malaysia and internationally. The company operates through Construction, Trading, and Property Development segments. The Construction segment offers construction works, such as construction of commercial shop-lots and shop offices, shopping complexes, residential apartments, condominiums, and hotels. The Trading segment engages in sourcing and trading building materials and other related products used in the construction and property development industry. The Property Development segment develops commercial and residential properties. The company was founded in 1975 and is based in Petaling Jaya, Malaysia.

Stock analysis

Mercury Industries Bhd (8192) currently trades at 0.6250 MYR, while our model-based Fair Value estimate is 1.69 MYR, implying the stock looks roughly 63.0% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of 4.35 MYR per share, and 12 of the 15 models we run sit above the 0.6250 MYR price.

Bear case: the Asset-Based group reads lowest at 0.4600 MYR, and 3 of the 15 models stay below the price. Evidence for this calculation is low.

Scenario range: 1.06 MYR (bear) to 1.85 MYR (bull), the price of 0.6250 MYR sits below 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 50/100 (solid quality), in the Industrials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Mercury Industries Bhd reported revenue of 19.3M MYR in FY2024 versus 10.5M MYR in FY2020, a compound +16.5%/yr. Reported net income was 4.8M MYR in FY2024.

Key figures

Market cap 46.7M MYR (≈ $11.5M) · P/E ratio 4.8 · P/S ratio 1.19 · EPS (TTM) 0.1300 MYR · Net margin 24.7% · Return on equity 1,742% · Return on assets (EBIT) −11.4% · Operating margin 13.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).

What moves the price

The share trades about 23% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 170%, 8192 screens cheaper than that median.

Fair Value models

Bear 1.06 MYR Fair Value 1.69 MYR Bull 1.85 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 2024 figures (about 12 months old). Earnings retained since then (0.1300 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.
Highest evidence
EPV 1.70 MYR 1.96 MYR 2.19 MYR 74
Owner Earnings 2.40 MYR 4.35 MYR 7.69 MYR 71
ROIC Compounder 1.92 MYR 2.53 MYR 3.27 MYR 70
All 15 models by family
DCF Models
Owner Earnings 2.40 MYR 4.35 MYR 7.69 MYR 71
Earnings-Based
Graham-Dodd 0.4600 MYR 2.25 MYR 3.11 MYR 62
Lynch FV 0.6100 MYR 0.8700 MYR 1.13 MYR 59
PEG = 1.0 0.6100 MYR 0.8700 MYR 1.13 MYR 55
EPV 1.70 MYR 1.96 MYR 2.19 MYR 74
Multiples
P/E Multiple 1.06 MYR 1.41 MYR 1.77 MYR 63
P/S Multiple 0.4100 MYR 0.5400 MYR 0.6800 MYR 58
P/B Multiple 0.8600 MYR 1.14 MYR 1.43 MYR 55
EV/EBIT 2.63 MYR 3.50 MYR 4.37 MYR 66
EV/EBITDA 2.02 MYR 2.69 MYR 3.36 MYR 67
EV/Revenue 0.3600 MYR 0.5100 MYR 0.6600 MYR 54
Asset-Based
NCAV (Graham) 0.3500 MYR 0.4600 MYR 0.6900 MYR 54
Economic Profit
Residual Income 0.5900 MYR 0.6500 MYR 0.9300 MYR 68
ROIC Compounder 1.92 MYR 2.53 MYR 3.27 MYR 70
Growth Earnings
Growth-Adj P/E 0.9300 MYR 1.33 MYR 1.74 MYR 65

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Quality Score breakdown

Overall quality 50/100

Of which business quality 44 · Market factors (momentum, volatility) 36

Profitability 41
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 11
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 22/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+372.6%
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.
+44.8%
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.
−25.8%
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.
−7.5%
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.
+12.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.5%
Dividend (yield on the price)0.0%
Profit margin 2019 to 2024 ⓘ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.5% → 75%
⚠ Revenue per share shrinking 38.3%/yr over ~6Y (margins eroding too) ⓘ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.

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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.Engineering & Construction · 839 stocks

Beats the industry median on 9/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 50 · Below median
Fair Value upside +170% · Top 25%
Profitability
Return on assets 13% · Top 25%
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 13% · Top 25%
Growth and dividend
Revenue growth 151% · Top 25%
Balance sheet
Debt / equity 0.04× · Below median

Valuation Multiplesvs Engineering & Construction median · lower = cheaper

P/E (TTM) 4.8× · Cheapest 25%
P/B 0.23× · Cheapest 25%
P/S (TTM) 0.21× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 29
FUTURE (revenue growth)100 · sector 11
PAST (return on equity)0 · sector 29
HEALTH (low debt)98 · sector 94
DIVIDEND (yield)0 · sector 41

Context: sector, industry, market

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

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Quanta Services, Inc PWR $634.90 $163.08 −74%
Vinci SA DG €110.50 €185.62 +68%
Comfort Systems USA, Inc FIX $1,626 $1,122 −31%
Larsen & Toubro Limited LT ₹3,930 ₹1,994 −49%
Ferrovial N.V FER $56.30 $24.01 −57%
Samsung C&T Corporation 028260 367,000 KRW 256,792 KRW −30%
HOCHTIEF Aktiengesellschaft HOT €397.00 €203.87 −49%
ACS, Actividades de Construcción y Servicios, S.A ACS €92.75 €75.04 −19%
EMCOR Group EME $751.80 $521.87 −31%
MasTec, Inc MTZ $217.52 $106.05 −51%

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Cite: Fair Value Calculator (2026). "Mercury Industries Bhd Fair Value". https://www.fairvalue-calculator.com/stock/8192

Frequently asked questions

Is Mercury Industries Bhd (8192) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 1.69 MYR versus a price of 0.6250 MYR, about +170% upside (undervalued).
What is the fair value of 8192?
Our model-based fair value for Mercury Industries Bhd is 1.69 MYR (as of Sep 23, 2026), built from audited fundamentals. The current price: 0.6250 MYR.
What is the quality score of 8192?
Mercury Industries Bhd 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 price target for Mercury Industries Bhd (8192)?
Our model-based price target is the fair value of 1.69 MYR (as of Sep 23, 2026) from 15 valuation models. Cautious scenario 1.06 MYR, optimistic scenario 1.85 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Mercury Industries Bhd stock forecast for 2026?
Our models put fair value at 1.69 MYR, about +170% upside versus a price of 0.6250 MYR (undervalued). Cautious scenario 1.06 MYR, optimistic scenario 1.85 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Mercury Industries Bhd (8192)?
Mercury Industries Bhd reported trailing-twelve-month revenue of about 54.3M MYR (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Mercury Industries Bhd (8192)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mercury Industries Bhd it is 1.69 MYR per share (as of Sep 23, 2026), against a price of 0.6250 MYR. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Mercury Industries Bhd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 8192 trades below its calculated fair value: price 0.6250 MYR, fair value 1.69 MYR, a gap of about +170% (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 8192?
No. The price is what the market pays today (0.6250 MYR); the fair value is what the company's own numbers justify (1.69 MYR). For Mercury Industries Bhd the two are 1.07 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Mercury Industries Bhd worth?
The market values Mercury Industries Bhd at about 46.7M MYR (market capitalisation, as of Sep 23, 2026). Per share that is 0.6250 MYR; our models calculate a fair value of 1.69 MYR per share.
What do the bullish and bearish scenarios say about 8192?
Our models span a range for Mercury Industries Bhd: cautious scenario 1.06 MYR, base 1.69 MYR, optimistic 1.85 MYR per share (as of Sep 23, 2026, price 0.6250 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8192?
Mercury Industries Bhd trades at a price-to-earnings ratio of 4.8 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.69 MYR is built from several models across several years. Other multiples: P/B 0.2, P/S 0.2.
How solid is the balance sheet of Mercury Industries Bhd (8192)?
Balance-sheet figures for Mercury Industries Bhd (as of Sep 23, 2026): debt of 0.04 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 8192 from its 52-week high?
Mercury Industries Bhd trades at 0.6250 MYR, about 23% below its 52-week high of 0.8100 MYR and 8% above the low of 0.5800 MYR (as of Sep 21, 2026). Distance from the high says nothing about value: that is what the fair value of 1.69 MYR is for.
Which stocks are comparable to Mercury Industries Bhd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Mercury Industries Bhd stock attractive at the current price?
The data as of Sep 23, 2026: price 0.6250 MYR, calculated fair value 1.69 MYR (+170%), Quality Score 50/100, from 15 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 8192 calculated?
We run Mercury Industries Bhd through 15 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 1.69 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 13.0 % above its aggregate fair value. Mercury Industries Bhd currently trades 170 % 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 Mercury Industries Bhd (8192)?
The closing price on Sep 21, 2026 was 0.6250 MYR. Our model-based fair value is 1.69 MYR, about +170% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mercury Industries Bhd right now?
The price is below even our cautious bear case (1.06 MYR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Mercury Industries Bhd

How large is the market capitalisation of Mercury Industries Bhd (8192)?
The market capitalisation of Mercury Industries Bhd is 46.7M MYR (≈ $11.5M). 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 Mercury Industries Bhd (8192)?
The price-to-sales ratio of Mercury Industries Bhd is 1.19 (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 Mercury Industries Bhd (8192)?
Earnings per share at Mercury Industries Bhd are 0.1300 MYR (price ÷ EPS = P/E 4.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Mercury Industries Bhd (8192)?
The net margin of Mercury Industries Bhd is 24.7% (fiscal year 2024). 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 Mercury Industries Bhd (8192)?
The return on equity (ROE) of Mercury Industries Bhd is 1,742% (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 Mercury Industries Bhd (8192)?
On an EBIT basis the return on assets of Mercury Industries Bhd is −11.4% (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 Mercury Industries Bhd (8192)?
The operating margin of Mercury Industries Bhd is 13.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mercury Industries Bhd (8192)?
Revenue at Mercury Industries Bhd is growing +151% versus a year earlier (3y avg +44.8%). 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 Mercury Industries Bhd (8192)?
Earnings per share at Mercury Industries Bhd are growing +422% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Mercury Industries Bhd (8192) generate?
The free cash flow of Mercury Industries Bhd is −2.4M MYR (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Mercury Industries Bhd (8192) carry?
The net debt of Mercury Industries Bhd is 2.3M MYR (fiscal year 2024). 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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