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Greater Bay Holdings (9148) Fair Value & Analysis

Consumer Cyclical · MY · Market cap 45.7M MYR

GB Greater Bay Holdings 9148 · KLSE
Price0.5700 MYR
Fair Value0.0800 MYR
Upside-86.0%
Quality57/100
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Healthy Growth
Thin margins · 1.2% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/13)
Narrow moat 31/100
Evidence: High Range 0.0600 MYR – 0.1000 MYR Share as image

Fair value as of: Jul 20, 2026

From 17 valuation models · updated 21 days ago

Share price −1.7% over the past month.

A solid business, but screening 86% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.1000 MYR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

0.7500 MYR 0.4200 MYR Fair Value 0.0800 MYR Feb 2017 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 0.4200 MYR – 0.7500 MYR · fair‑value band 0.0600 MYR – 0.1000 MYR · the 0.5700 MYR price screens above the 0.0800 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Greater Bay Holdings (9148) currently trades at 0.5700 MYR, while our model-based Fair Value estimate is 0.0800 MYR, implying the stock looks roughly 86.0% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Greater Bay Holdings generated revenue of 38.8M MYR at a net margin of 1.2%. Revenue grew 8.7% year over year. It earns a return on equity of 1.7%. Net debt stands at 17.1M MYR. Fundamentals as of Jul 20, 2026

Our scenario range runs from 0.0600 MYR (bear case) to 0.1000 MYR (bull case); at 0.5700 MYR, the current price sits above 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 16% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -22% fair-value upside, at -86%, 9148 screens richer 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (0.0200 MYR to 0.3300 MYR). Read the values as a conservative anchor, not as a price target.
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 0.2200 MYR 0.1900 MYR 0.1200 MYR 76
Growth-Adj P/E 0.0500 MYR 0.0700 MYR 0.0900 MYR 68
P/E Multiple 0.0600 MYR 0.0800 MYR 0.1000 MYR 63
All 17 models by family
DCF Models
Owner Earnings — — 0.0300 MYR 31
5Y Revenue Exit — 0.0300 MYR 0.1100 MYR 39
5Y EBITDA Exit 0.0500 MYR 0.1900 MYR 0.3500 MYR 41
10Y Revenue Exit — — 0.0400 MYR 36
10Y EBITDA Exit — 0.0700 MYR 0.1900 MYR 37
Earnings-Based
Graham-Dodd 0.0300 MYR 0.0900 MYR 0.1100 MYR 54
Lynch FV 0.0200 MYR 0.0200 MYR 0.0300 MYR 50
PEG = 1.0 0.0200 MYR 0.0200 MYR 0.0300 MYR 46
Multiples
P/E Multiple 0.0600 MYR 0.0800 MYR 0.1000 MYR 63
P/S Multiple 0.0600 MYR 0.0800 MYR 0.1000 MYR 58
P/B Multiple 0.0600 MYR 0.0800 MYR 0.1000 MYR 55
EV/EBIT 0.0400 MYR 0.1000 MYR 0.1600 MYR 53
EV/EBITDA 0.2100 MYR 0.3300 MYR 0.4500 MYR 54
EV/Revenue 0.0200 MYR 0.0900 MYR 0.1500 MYR 43
Asset-Based
NCAV (Graham) 0.1700 MYR 0.2300 MYR 0.3500 MYR 50
Economic Profit
Residual Income 0.2200 MYR 0.1900 MYR 0.1200 MYR 76
Growth Earnings
Growth-Adj P/E 0.0500 MYR 0.0700 MYR 0.0900 MYR 68

Widest divergence: Asset-Based (0.2300 MYR) versus Earnings-Based (0.0200 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 38.8M MYR
Revenue growth (YoY) +8.7%
Net margin 1.2%
Return on equity 1.7%
Free cash flow 286K MYR FY2025
P/E ratio 58.0
More key figures
Operating margin 7.4%
EPS (TTM) 0.0100 MYR
EPS growth (YoY) +32.2%
Net debt 17.1M MYR FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 50

Profitability 32
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 93
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

Greater Bay Holdings Berhad manufactures and distributes flexible packaging materials in Malaysia and internationally. The company offers single and multi-layer flexible packaging materials in roll and pouch/bag forms, as well as provides management services.

Full company description

Greater Bay Holdings Berhad manufactures and distributes flexible packaging materials in Malaysia and internationally. The company offers single and multi-layer flexible packaging materials in roll and pouch/bag forms, as well as provides management services. It serves a range of industries, including snack foods, instant noodles, sweets and confectionery, liquid condiments, frozen foods, spices, beverages, milk powder, edible oil, rice, medical/surgical products, pharmaceuticals, and others. The company was incorporated in 2022 and is headquartered in Bandar Baru Bangi, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Greater Bay Holdings reported revenue of 38.0M MYR in FY2025 versus 24.2M MYR in FY2021, a compound +12.0%/yr. Reported net income was 359K MYR in FY2025.

Growth Quality 76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
38.0M MYR
Latest YoY
+13.7%
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.
+9.4%
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.
+10.1%
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.
+3.9%
Revenue +12.0%/yr
FY21 24.2M MYR
FY22 29.0M MYR
FY23 25.8M MYR
FY24 33.4M MYR
FY25 38.0M MYR
Net income
FY21 −1.1M MYR
FY22 −1.7M MYR
FY23 −1.7M MYR
FY24 −192K MYR
FY25 359K MYR

9148 screens 86% overvalued. Compare with Stora Enso Oyj →

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Greater Bay Holdings · Fair Value
0.0800 MYR −86%Fair Value
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Cite: Fair Value Calculator (2026). "Greater Bay Holdings Fair Value". https://www.fairvalue-calculator.com/stock/9148

Peer Group

Packaging & Containers · 272 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 57 · Above median
Fair Value upside −86% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 7% · Above median
Revenue growth 9% · Above median
Debt / equity 0.45× · Higher than 75% of peers

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/E (TTM) 58.0× · Pricier than 75% of peers
P/B 0.41× · Cheaper than 75% of peers
P/S (TTM) 0.29× · Cheaper than median
P/FCF 39.1× · Pricier than 75% of peers
EV/EBITDA 6.0× · 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 0 · sector 9
FUTURE 44 · sector 1
PAST 7 · sector 21
HEALTH 77 · sector 92
DIVIDEND 0 · sector 42

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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 Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Stora Enso Oyj STER kr 101.90 kr 126.39 +24%
ShenZhen YUTO Packaging Technology Co 002831 ¥29.10 ¥20.88 -28%
SCG Packaging Public Company SCGP 29.00 THB 16.12 THB -44%
AblePrint Technology Co 7734 2,850 TWD 661.69 TWD -77%
PT Fajar Surya Wisesa Tbk, FASW 5,312 IDR 1,194 IDR -78%
Taiwan Hon Chuan Enterprise Co 9939 132.50 TWD 127.06 TWD -4%
Time Technoplast Limited TIMETECHNO ₹206.82 ₹161.42 -22%
EPL Limited 500135 ₹222.25 ₹111.65 -50%
Ton Yi Industrial Corp 9907 15.15 TWD 23.17 TWD +53%
Dongwon Systems Corporation 014820 19,330 KRW 31,473 KRW +63%

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Frequently asked questions

Is Greater Bay Holdings (9148) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 0.0800 MYR versus a price of 0.5700 MYR, about −86% (overvalued).
What is the fair value of 9148?
Our model-based fair value for Greater Bay Holdings is 0.0800 MYR (as of Jul 20, 2026), built from audited fundamentals. The current price is 0.5700 MYR.
What is the quality score of 9148?
Greater Bay Holdings has a Quality Score of 57/100. 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 Greater Bay Holdings (9148)?
Greater Bay Holdings reported trailing-twelve-month revenue of about 38.8M MYR (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 9148?
The net profit margin of Greater Bay Holdings is about 1.2%, meaning it keeps roughly 1.2% of revenue as net income. 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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