Formosa Prosonic Industries (9172) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Formosa Prosonic Industries stock MYR 1.81, price MYR 1.17, upside +54.7%, quality 55 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range 0.6589 MYR – 1.88 MYR · fair‑value band 1.37 MYR – 2.22 MYR · the 1.17 MYR price screens below the 1.81 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Formosa Prosonic Industries Berhad, together with its subsidiaries, manufactures and sells speaker system products in Malaysia.
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The company offers consumer and home entertainment products, including portable and outdoor speakers, sound bars, home theater systems, ambient room wireless and bookshelf speakers, and TV stands.
It also provides musical instrument solutions comprising acoustic pianos, guitar amplifiers, drum sets, and synthesizers. In addition, the company offers automotive solutions consisting of car speakers and subwoofers solutions.
Further, it provides furniture solutions, such as study desks, cupboards, pet homes, and TV cabinets.
Additionally, the company offers engineering and design services, plastic components, and transducers, as well as manufactures and sells speaker driver units; and provides in-house assembly and woodworking.
Formosa Prosonic Industries Berhad was incorporated in 1988 and is headquartered in Port Klang, Malaysia.
Stock analysis
Formosa Prosonic Industries (9172) currently trades at 1.17 MYR, while our model-based Fair Value estimate is 1.81 MYR, implying the stock looks roughly 35% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 3.00 MYR per share, and 19 of the 24 models we run sit above the 1.17 MYR price.
Bear case: the Asset-Based group reads lowest at 1.00 MYR, and 5 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 1.37 MYR (bear) to 2.22 MYR (bull), the price of 1.17 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 55/100 (solid quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Formosa Prosonic Industries reported revenue of 431M MYR in FY2025 versus 939M MYR in FY2021, a compound −17.7%/yr. Reported net income was 36.6M MYR in FY2025, compounding −21.6%/yr from FY2021.
Key figures
Market cap 314M MYR (≈ $77.3M) Micro · P/E ratio 7.3 · P/S ratio 0.65 · EPS (TTM) 0.1600 MYR · Dividend yield 8.5% · Net margin 8.9% · Return on equity 10.2% · Return on assets (EBIT) 16.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 56% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 5% fair-value upside, at 55%, 9172 screens cheaper than that median.
Fair Value models
Bear1.37 MYRFair Value 1.81 MYRBull2.22 MYR
Price 1.17 MYR · Upside +54.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.0515 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−32.6%
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.
−24.1%
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.
−10.9%
Start year 2020 (pandemic). Over 10 years: +3.3% a year
Revenue growth 13 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.
−4.0%
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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.
+0.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.7%
Dividend (yield on the price)8.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−7.7% vs 8.0%, slowing
Profit margin 2020 to 2025 ⓘ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.9% → 11%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
The company could shrink this much every year for the next five years and today's price would still be justified.
Compare Formosa Prosonic Industries with another stock
Price, fair value, quality and upside side by side.
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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.Consumer Electronics · 114 stocks
Beats the industry median on 13/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside+54.7% · Top 25%
Profitability
Return on equity (12 months)10.2% · Above median
Return on assets5.7% · Top 25%
Net margin (12 months)8.9% · Top 25%
Operating margin (12 months)9.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)66.7% · Top 25%
Dividend yield (12 months)8.5% · Top 25%
Valuation Multiplesvs Consumer Electronics median · lower = cheaper
P/E (12 months)7.3× · Cheapest 25%
P/B0.91× · Cheapest 25%
P/S (12 months)0.65× · Cheaper than median
Price / free cash flow (fiscal year)14.5× · Cheaper than median
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Is Formosa Prosonic Industries (9172) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 1.81 MYR versus a price of 1.17 MYR, about +55% upside (undervalued).
What is the fair value of 9172?
Our model-based fair value for Formosa Prosonic Industries is 1.81 MYR (as of Nov 9, 2026), built from audited fundamentals. The current price: 1.17 MYR.
What is the quality score of 9172?
Formosa Prosonic Industries has a Quality Score of 55/100. 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 Formosa Prosonic Industries (9172)?
Our model-based price target is the fair value of 1.81 MYR (as of Nov 9, 2026) from 24 valuation models. Cautious scenario 1.37 MYR, optimistic scenario 2.22 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Formosa Prosonic Industries stock forecast for 2026?
Our models put fair value at 1.81 MYR, about +55% upside versus a price of 1.17 MYR (undervalued). Cautious scenario 1.37 MYR, optimistic scenario 2.22 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Formosa Prosonic Industries (9172)?
Formosa Prosonic Industries reported trailing-twelve-month revenue of about 484M MYR (latest available figure, as of Nov 9, 2026).
Does Formosa Prosonic Industries pay a dividend?
Formosa Prosonic Industries currently shows a dividend yield of 8.55% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Formosa Prosonic Industries (9172) and when is the ex-dividend date?
Formosa Prosonic Industries pays a dividend of 0.1 MYR per share a year, a dividend yield of 8.5%. The last ex-dividend date was Mar 18, 2026. A dividend has been paid every year since at least 1994. The payout ratio is 62.5% of earnings. Free cash flow covers the dividend 0.81 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Formosa Prosonic Industries (9172)?
For today's price to be fair in a discounted-cash-flow model, Formosa Prosonic Industries would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -10.9 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 9172 use?
Our models discount Formosa Prosonic Industries at 12.6 %: a base by market capitalisation (micro), damped by beta 0.32, country premium for Malaysia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Formosa Prosonic Industries that is less than minus 40 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has Formosa Prosonic Industries (9172) delivered so far?
Over the past 5 years revenue at Formosa Prosonic Industries grew -10.9 % a year. The price currently implies free-cash-flow growth of less than minus 40 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Formosa Prosonic Industries (9172) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Formosa Prosonic Industries (less than minus 40 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Formosa Prosonic Industries (9172)?
The free-cash-flow yield on the price is 6.89 %: that much free cash flow Formosa Prosonic Industries produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Formosa Prosonic Industries (9172)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Formosa Prosonic Industries it is 1.81 MYR per share (as of Nov 9, 2026), against a price of 1.17 MYR. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Formosa Prosonic Industries stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 9172 trades below its calculated fair value: price 1.17 MYR, fair value 1.81 MYR, a gap of about +55% (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 9172?
No. The price is what the market pays today (1.17 MYR); the fair value is what the company's own numbers justify (1.81 MYR). For Formosa Prosonic Industries the two are 0.6400 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Formosa Prosonic Industries worth?
The market values Formosa Prosonic Industries at about 314M MYR (market capitalisation, as of Nov 9, 2026). Per share that is 1.17 MYR; our models calculate a fair value of 1.81 MYR per share.
What do the bullish and bearish scenarios say about 9172?
Our models span a range for Formosa Prosonic Industries: cautious scenario 1.37 MYR, base 1.81 MYR, optimistic 2.22 MYR per share (as of Nov 9, 2026, price 1.17 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9172?
Formosa Prosonic Industries trades at a price-to-earnings ratio of 7.3 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.81 MYR is built from several models across several years. Other multiples: P/B 0.9, P/S 0.6, EV/EBITDA 2.1.
How solid is the balance sheet of Formosa Prosonic Industries (9172)?
Balance-sheet figures for Formosa Prosonic Industries (as of Nov 9, 2026): return on equity 10.2%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 9172 from its 52-week high?
Formosa Prosonic Industries trades at 1.17 MYR, about 6% below its 52-week high of 1.24 MYR and 56% above the low of 0.7515 MYR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1.81 MYR is for.
Which stocks are comparable to Formosa Prosonic Industries?
From the same area (Technology) we also value Samsung Electronics Co, Sony Group, Xiaomi Corporation, LG Electronics Inc, 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 Formosa Prosonic Industries stock attractive at the current price?
The data as of Nov 9, 2026: price 1.17 MYR, calculated fair value 1.81 MYR (+55%), Quality Score 55/100, from 24 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 9172 calculated?
We run Formosa Prosonic Industries through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 1.81 MYR builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Formosa Prosonic Industries currently trades 35% 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 Formosa Prosonic Industries (9172)?
The closing price on Nov 6, 2026 was 1.17 MYR. Our model-based fair value is 1.81 MYR, about +55% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Formosa Prosonic Industries right now?
The price is below even our cautious bear case (1.37 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 (55/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Formosa Prosonic Industries
How large is the market capitalisation of Formosa Prosonic Industries (9172)?
The market capitalisation of Formosa Prosonic Industries is 314M MYR (≈ $77.3M). 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 Formosa Prosonic Industries (9172)?
The price-to-sales ratio of Formosa Prosonic Industries is 0.65 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Formosa Prosonic Industries (9172)?
Earnings per share at Formosa Prosonic Industries are 0.1600 MYR (price ÷ EPS = P/E 7.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Formosa Prosonic Industries (9172)?
The dividend yield of Formosa Prosonic Industries is 8.5% (payout 62.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Formosa Prosonic Industries (9172)?
The net margin of Formosa Prosonic Industries is 8.9% (last twelve months). 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 Formosa Prosonic Industries (9172)?
The return on equity (ROE) of Formosa Prosonic Industries is 10.2% (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 Formosa Prosonic Industries (9172)?
On an EBIT basis the return on assets of Formosa Prosonic Industries is 16.3% (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 Formosa Prosonic Industries (9172)?
The operating margin of Formosa Prosonic Industries is 9.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Formosa Prosonic Industries (9172)?
Revenue at Formosa Prosonic Industries is growing +66.7% versus a year earlier (3y avg −24.1%). 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 Formosa Prosonic Industries (9172)?
Earnings per share at Formosa Prosonic Industries are growing −76.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Formosa Prosonic Industries (9172) hold?
Formosa Prosonic Industries holds more cash than debt, 117M MYR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 9, 2026