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S P Setia Berhad, an investment holding company, (8664) Fair Value & Analysis

Real Estate · MY · Market cap 4.8B MYR

SP S P Setia Berhad, an investment holding company, 8664 · KLSE
Price0.9100 MYR
Fair Value1.72 MYR
Upside+89.0%
Quality45/100
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Expensive Growth
Solidly profitable · 11.1% net margin
Low debt · generates free cash flow
2.83% dividend yield
Ranks above peers (10/15)
Moderate moat 52/100
Evidence: Medium Range 1.29 MYR – 2.54 MYR Share as image

Fair value as of: Jul 18, 2026

From 16 valuation models · updated 22 days ago

Share price −1.1% over the past month.

Below-average quality, screening 89% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (1.29 MYR). The market is more pessimistic than our downside scenario.
  • Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (1.29 MYR to 2.54 MYR) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

1.71 MYR 0.3806 MYR Fair Value 1.72 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range 0.3806 MYR – 1.71 MYR · fair‑value band 1.29 MYR – 2.54 MYR · the 0.9100 MYR price screens below the 1.72 MYR fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

S P Setia Berhad, an investment holding company, (8664) currently trades at 0.9100 MYR, while our model-based Fair Value estimate is 1.72 MYR, implying the stock looks roughly 89.0% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Real Estate 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, S P Setia Berhad, an investment holding company, generated revenue of 4.3B MYR at a net margin of 11.1%. Revenue grew 7.2% year over year. It earns a return on equity of 3.6%. Net debt stands at 5.9B MYR. Fundamentals as of Jul 18, 2026

Our scenario range runs from 1.29 MYR (bear case) to 2.54 MYR (bull case); at 0.9100 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 25% below its 52-week high and 30% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 89%, 8664 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 BearBaseBull Evidence
Highest evidence
Growth DCF 0.1300 MYR 0.4400 MYR 0.8800 MYR 80
Residual Income 2.12 MYR 2.08 MYR 1.78 MYR 76
Rev-Margin DCF 0.9000 MYR 1.97 MYR 3.18 MYR 74
All 16 models by family
DCF Models
FCF DCF 0.1200 MYR 0.4800 MYR 1.00 MYR 38
5Y Revenue Exit 0.9000 MYR 1.99 MYR 3.39 MYR 39
5Y EBITDA Exit 1.33 MYR 2.79 MYR 4.51 MYR 41
10Y Revenue Exit 0.5400 MYR 1.45 MYR 2.70 MYR 36
10Y EBITDA Exit 0.8700 MYR 2.00 MYR 3.53 MYR 37
Dividend Discount
Gordon GGM 0.4000 MYR 0.7900 MYR 1.19 MYR 70
DDM Multi-Stage 0.4000 MYR 0.6400 MYR 0.8300 MYR 61
Multiples
P/S Multiple 1.29 MYR 1.72 MYR 2.15 MYR 58
P/B Multiple 1.29 MYR 1.72 MYR 2.15 MYR 55
EV/EBIT 3.07 MYR 4.28 MYR 5.49 MYR 53
EV/EBITDA 2.35 MYR 3.31 MYR 4.28 MYR 54
EV/Revenue 1.44 MYR 2.30 MYR 3.16 MYR 43
Asset-Based
NCAV (Graham) 1.46 MYR 1.96 MYR 2.93 MYR 50
Growth DCF
Growth DCF 0.1300 MYR 0.4400 MYR 0.8800 MYR 80
Rev-Margin DCF 0.9000 MYR 1.97 MYR 3.18 MYR 74
Economic Profit
Residual Income 2.12 MYR 2.08 MYR 1.78 MYR 76

Widest divergence: Multiples (2.30 MYR) versus Growth DCF (0.4400 MYR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 4.3B MYR
Revenue growth (YoY) +7.2%
Net margin 11.1%
Return on equity 3.6%
Free cash flow 319M MYR FY2025
P/E ratio 13.5
More key figures
Operating margin 27.3%
EPS (TTM) 0.0700 MYR
Dividend yield 2.8%
EPS growth (YoY) -53.5%
Net debt 5.9B MYR FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 45 · Market factors (momentum, volatility) 36

Profitability 24
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 36
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

S P Setia Berhad, an investment holding company, operates as a property development and investment company in Malaysia, Singapore, Australia, Vietnam, the United Kingdom, and Japan. The company operates in two segments, Property Development; and Construction, Investment Holding & Others.

Full company description

S P Setia Berhad, an investment holding company, operates as a property development and investment company in Malaysia, Singapore, Australia, Vietnam, the United Kingdom, and Japan. The company operates in two segments, Property Development; and Construction, Investment Holding & Others. It develops bungalow, high-rise, terrace, semi-detached, cluster, and townhouse, as well as commercial, retail, and industrial properties. The company is involved in property development and project management business; fabrication, installation, and sale of wood products; provision of kiln dry services; sale of building materials; sale of cosmetic products and household goods; operation and management of recreation club; banqueting; leasing of retail and food and beverage outlets; and construction and operation of concession assets, hotels, and resorts. In addition, it subleases land; and provides development management consultancy services. The company was incorporated in 1974 and is headquartered in Shah Alam, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

S P Setia Berhad, an investment holding company, reported revenue of 4.2B MYR in FY2025 versus 3.8B MYR in FY2021, a compound +2.9%/yr. Reported net income was 510M MYR in FY2025, compounding +15.7%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
4.2B MYR
Latest YoY
−20.3%
Avg. growth/yr (3Y)
−1.8%
Avg. growth/yr (5Y)
+5.5%
Avg. growth/yr (21Y)
+7.0%
Revenue +2.9%/yr
FY21 3.8B MYR
FY22 4.5B MYR
FY23 4.4B MYR
FY24 5.3B MYR
FY25 4.2B MYR
Net income +15.7%/yr
FY21 284M MYR
FY22 304M MYR
FY23 299M MYR
FY24 576M MYR
FY25 510M MYR

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Cite: Fair Value Calculator (2026). "S P Setia Berhad, an investment holding company, Fair Value". https://www.fairvalue-calculator.com/stock/8664

Peer Group

Real Estate - Development · 588 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 46 · Below median
Fair Value upside +89% · Top 25%
Return on equity (TTM) 4% · Above median
Return on assets 3% · Above median
Net margin (TTM) 11% · Above median
Operating margin (TTM) 27% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 2.8% · Above median
Debt / equity 0.33× · Higher than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 13.5× · Pricier than median
P/B 0.32× · Cheaper than median
P/S (TTM) 1.12× · Pricier than median
P/FCF 3.7× · Pricier than 75% of peers
EV/EBITDA 6.7× · Cheaper than median
PEG 0.57× · 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 48
FUTURE 36 · sector 0
PAST 14 · sector 10
HEALTH 84 · sector 84
DIVIDEND 57 · sector 38

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is S P Setia Berhad, an investment holding company, (8664) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 1.72 MYR versus a price of 0.9100 MYR, about +89% (undervalued).
What is the fair value of 8664?
Our model-based fair value for S P Setia Berhad, an investment holding company, is 1.72 MYR (as of Jul 18, 2026), built from audited fundamentals. The current price is 0.9100 MYR.
What is the quality score of 8664?
S P Setia Berhad, an investment holding company, has a Quality Score of 45/100. 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 S P Setia Berhad, an investment holding company, (8664)?
S P Setia Berhad, an investment holding company, reported trailing-twelve-month revenue of about 4.3B MYR (latest available figure, as of Jul 18, 2026).
What is the net profit margin of 8664?
The net profit margin of S P Setia Berhad, an investment holding company, is about 11.1%, meaning it keeps roughly 11.1% of revenue as net income. Based on the latest reported figures.
Does S P Setia Berhad, an investment holding company, pay a dividend?
S P Setia Berhad, an investment holding company, currently shows a dividend yield of about 2.57% relative to its recent price (as of Jul 18, 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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