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Emico Holdings (9091) Fair Value & Analysis

Consumer Cyclical · MY · Market cap 22.0M MYR

EH Emico Holdings 9091 · KLSE
Price0.1400 MYR
Fair Value0.1800 MYR
Upside+28.6%
Quality45/100
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Mixed Growth
Loss-making · -4.1% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/12)
Narrow moat 12/100
Evidence: Medium Range 0.1200 MYR – 0.2400 MYR Share as image

Fair value as of: Jul 19, 2026

From 10 valuation models · updated 22 days ago

Fair value updated Jul 19, 2026, revised from 0.1230 MYR to 0.1800 MYR (+46.3%) since Jun 26, 2026. Share price −3.4% over the past month.

Below-average quality, screening 29% undervalued on our models.

What matters now

  • 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 (0.1200 MYR to 0.2400 MYR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

0.6650 MYR 0.1100 MYR Fair Value 0.1800 MYR Sep 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 0.1100 MYR – 0.6650 MYR · fair‑value band 0.1200 MYR – 0.2400 MYR · the 0.1400 MYR price screens below the 0.1800 MYR fair value. Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Emico Holdings (9091) currently trades at 0.1400 MYR, while our model-based Fair Value estimate is 0.1800 MYR, implying the stock looks roughly 28.6% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Consumer Cyclical 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, Emico Holdings generated revenue of 58.1M MYR at a net margin of -4.1%. Revenue declined 2.1% year over year. It earns a return on equity of -4.0%. Net debt stands at 8.8M MYR. Fundamentals as of Jul 19, 2026

Our scenario range runs from 0.1200 MYR (bear case) to 0.2400 MYR (bull case); at 0.1400 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 45% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at 29%, 9091 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 0.2900 MYR 0.3500 MYR 0.4600 MYR 80
Rev-Margin DCF 0.3000 MYR 0.4400 MYR 0.6100 MYR 74
EV/EBITDA 0.1700 MYR 0.2300 MYR 0.2900 MYR 54
All 10 models by family
DCF Models
FCF DCF 0.2800 MYR 0.3500 MYR 0.4700 MYR 38
5Y Revenue Exit 0.3000 MYR 0.4300 MYR 0.6200 MYR 39
5Y EBITDA Exit 0.2100 MYR 0.2800 MYR 0.3700 MYR 41
10Y Revenue Exit 0.2800 MYR 0.3700 MYR 0.4700 MYR 36
10Y EBITDA Exit 0.2400 MYR 0.2900 MYR 0.3400 MYR 37
Multiples
EV/EBITDA 0.1700 MYR 0.2300 MYR 0.2900 MYR 54
EV/Revenue 0.3400 MYR 0.5000 MYR 0.6500 MYR 43
Asset-Based
NCAV (Graham) 0.1900 MYR 0.2500 MYR 0.3700 MYR 50
Growth DCF
Growth DCF 0.2900 MYR 0.3500 MYR 0.4600 MYR 80
Rev-Margin DCF 0.3000 MYR 0.4400 MYR 0.6100 MYR 74

Widest divergence: DCF Models (0.3500 MYR) versus Multiples (0.2300 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 58.1M MYR
Revenue growth (YoY) -2.1%
Net margin -4.1%
Return on equity -4.0%
Free cash flow 5.5M MYR FY2026
Operating margin -26.8%
More key figures
EPS (TTM) -0.0200 MYR
EPS growth (YoY) +163%
Net debt 8.8M MYR FY2026

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 46 · Market factors (momentum, volatility) 25

Profitability 15
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 42
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

Emico Holdings Berhad, an investment holding company, manufactures and trades in consumable products in Malaysia, Europe, and internationally. It operates through Consumable Products and Property Development segments.

Full company description

Emico Holdings Berhad, an investment holding company, manufactures and trades in consumable products in Malaysia, Europe, and internationally. It operates through Consumable Products and Property Development segments. The company engages in manufacturing of original equipment manufacturer products, awards, trophy components, medallions, souvenirs, gift items, and furniture products, as well as general trading services. It also provides contract manufacturing services that includes product and mould development, sourcing of sub components, plastic injection moulding, vacuum metalizing, UV automated spraying / spray painting, plastic welding, plastic finishing, assembly and packaging, global distribution and delivery; agriculture activities for urban farming and waste management system; and development of land into residential and commercial buildings. In addition, it manufactures and distributes trophy products; trading of home furnishing and household products. Further, the company engages in the trading and sourcing of upholstered, bedroom, living and dining room, and outdoor and conservatory furniture, as well as gifts and home accessories, kitchen and tabletops, storage, and textile products. Emico Holdings Berhad was founded in 1973 and is based in Bayan Lepas, Malaysia.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Emico Holdings reported revenue of 58.1M MYR in FY2026 versus 39.5M MYR in FY2022, a compound +10.1%/yr. Reported net income was −2.4M MYR in FY2026.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
58.1M MYR
Latest YoY
+1.0%
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.
−1.7%
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.
+11.3%
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.
−2.3%
Revenue +10.1%/yr
FY22 39.5M MYR
FY23 61.2M MYR
FY24 61.0M MYR
FY25 57.6M MYR
FY26 58.1M MYR
Net income
FY22 −862K MYR
FY23 368K MYR
FY24 2.9M MYR
FY25 −1.1M MYR
FY26 −2.4M MYR

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Cite: Fair Value Calculator (2026). "Emico Holdings Fair Value". https://www.fairvalue-calculator.com/stock/9091

Peer Group

Leisure · 190 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 45 · Below median
Fair Value upside +29% · Above median
Return on assets -0% · Bottom 25%
Net margin (TTM) -4% · Below median
Operating margin (TTM) -27% · Bottom 25%
Revenue growth -2% · Below median
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Leisure median · lower = cheaper

P/B 0.11× · Cheaper than 75% of peers
P/S (TTM) 0.09× · Cheaper than 75% of peers
P/FCF 1.0× · Cheaper than median
EV/EBITDA 4.4× · Cheaper than 75% of peers

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 71 · sector 14
FUTURE 0 · sector 18
PAST 0 · sector 19
HEALTH 96 · sector 94
DIVIDEND 0 · sector 51

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.

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10 more Leisure stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

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Frequently asked questions

Is Emico Holdings (9091) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 0.1800 MYR versus a price of 0.1400 MYR, about +29% (undervalued).
What is the fair value of 9091?
Our model-based fair value for Emico Holdings is 0.1800 MYR (as of Jul 19, 2026), built from audited fundamentals. The current price is 0.1400 MYR.
What is the quality score of 9091?
Emico Holdings 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 Emico Holdings (9091)?
Emico Holdings reported trailing-twelve-month revenue of about 58.1M MYR (latest available figure, as of Jul 19, 2026).
What is the net profit margin of 9091?
The net profit margin of Emico Holdings is about -4.1%, 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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