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Formosa Prosonic Industries Berhad, (9172) Fair Value & Analysis

Technology · MY · Market cap 255M MYR

FP Formosa Prosonic Industries Berhad, 9172 · KLSE
Price1.23 MYR
Fair Value1.95 MYR
Upside+58.5%
Quality59/100
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Weak Growth
Thin margins · 7.0% net margin
generates free cash flow
10.75% dividend yield
Ranks above peers (10/12)
Narrow moat 43/100
Evidence: High Range 1.43 MYR – 2.45 MYR Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 27 days ago

Share price +32.3% over the past month.

A solid business, screening 59% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (1.43 MYR). The market is more pessimistic than our downside scenario.
  • Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

1.88 MYR 0.6589 MYR Fair Value 1.95 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 0.6589 MYR – 1.88 MYR · fair‑value band 1.43 MYR – 2.45 MYR · the 1.23 MYR price screens below the 1.95 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Formosa Prosonic Industries Berhad, (9172) currently trades at 1.23 MYR, while our model-based Fair Value estimate is 1.95 MYR, implying the stock looks roughly 58.5% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Technology 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: high), always confirm before acting.

Over the trailing twelve months, Formosa Prosonic Industries Berhad, generated revenue of 411M MYR at a net margin of 7.0%. Revenue declined 20.0% year over year. It earns a return on equity of 6.8%. The balance sheet holds a net cash position of 117M MYR. Fundamentals as of Jul 14, 2026

Our scenario range runs from 1.43 MYR (bear case) to 2.45 MYR (bull case); at 1.23 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 near its 52-week high and 91% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -16% fair-value upside, at 59%, 9172 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
Residual Income 1.05 MYR 1.14 MYR 1.27 MYR 76
Growth DCF 1.04 MYR 1.18 MYR 1.39 MYR 72
Gordon GGM 1.20 MYR 1.29 MYR 1.41 MYR 70
All 24 models by family
DCF Models
FCF DCF 1.02 MYR 1.18 MYR 1.42 MYR 38
Owner Earnings 1.60 MYR 1.91 MYR 2.39 MYR 31
5Y Revenue Exit 1.37 MYR 1.86 MYR 2.58 MYR 39
5Y EBITDA Exit 1.58 MYR 2.22 MYR 3.07 MYR 41
5Y P/E Exit 1.74 MYR 2.50 MYR 3.40 MYR 38
10Y Revenue Exit 1.17 MYR 1.48 MYR 1.82 MYR 36
10Y EBITDA Exit 1.31 MYR 1.67 MYR 2.06 MYR 37
10Y P/E Exit 1.39 MYR 1.82 MYR 2.23 MYR 35
Earnings-Based
Graham-Dodd 0.9300 MYR 1.14 MYR 1.28 MYR 54
EPV 1.52 MYR 1.65 MYR 1.76 MYR 59
Dividend Discount
Gordon GGM 1.20 MYR 1.29 MYR 1.41 MYR 70
DDM Multi-Stage 1.20 MYR 1.39 MYR 1.63 MYR 61
Multiples
P/E Multiple 2.27 MYR 3.02 MYR 3.78 MYR 63
P/S Multiple 1.45 MYR 1.94 MYR 2.42 MYR 58
P/B Multiple 1.75 MYR 2.33 MYR 2.92 MYR 55
EV/EBIT 2.83 MYR 3.63 MYR 4.42 MYR 53
EV/EBITDA 2.35 MYR 2.98 MYR 3.62 MYR 54
EV/Revenue 1.79 MYR 2.38 MYR 2.96 MYR 43
Asset-Based
NCAV (Graham) 0.6400 MYR 0.8600 MYR 1.29 MYR 50
Growth DCF
Growth DCF 1.04 MYR 1.18 MYR 1.39 MYR 72
Rev-Margin DCF 1.37 MYR 1.88 MYR 2.50 MYR 67
Economic Profit
Residual Income 1.05 MYR 1.14 MYR 1.27 MYR 76
ROIC Compounder 1.52 MYR 1.68 MYR 1.82 MYR 67
Growth Earnings
Growth-Adj P/E 1.60 MYR 2.28 MYR 2.97 MYR 68

Widest divergence: Multiples (2.38 MYR) versus Asset-Based (0.8600 MYR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 411M MYR
Revenue growth (YoY) -20.0%
Net margin 7.0%
Return on equity 6.8%
Free cash flow 21.6M MYR FY2025
P/E ratio 8.5
More key figures
Operating margin 3.8%
EPS (TTM) 0.1100 MYR
Dividend yield 10.6%
EPS growth (YoY) -76.9%
Net cash 117M MYR FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 57 · Market factors (momentum, volatility) 77

Profitability 40
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 79
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

Formosa Prosonic Industries Berhad, together with its subsidiaries, manufactures and sells speaker system products in Malaysia. 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.

Full company description

Formosa Prosonic Industries Berhad, together with its subsidiaries, manufactures and sells speaker system products in Malaysia. 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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Formosa Prosonic Industries Berhad, 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.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
431M MYR
Latest YoY
−32.6%
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.
−24.1%
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.
−10.9%
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.
−4.0%
Revenue −17.7%/yr
FY21 939M MYR
FY22 984M MYR
FY23 674M MYR
FY24 639M MYR
FY25 431M MYR
Net income −21.6%/yr
FY21 96.9M MYR
FY22 106M MYR
FY23 117M MYR
FY24 66.8M MYR
FY25 36.6M MYR

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Cite: Fair Value Calculator (2026). "Formosa Prosonic Industries Berhad, Fair Value". https://www.fairvalue-calculator.com/stock/9172

Peer Group

Consumer Electronics · 129 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 59 · Top 25%
Fair Value upside +59% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 8% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 4% · Above median
Revenue growth -20% · Bottom 25%
Dividend yield (TTM) 10.8% · Top 25%

Valuation Multiples vs Consumer Electronics median · lower = cheaper

P/E (TTM) 8.7× · Cheaper than 75% of peers
P/B 0.18× · Cheaper than 75% of peers
P/S (TTM) 0.15× · Cheaper than median
P/FCF 2.9× · Pricier 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 8
FUTURE 0 · sector 13
PAST 27 · sector 10
HEALTH 0 · sector 97
DIVIDEND 100 · sector 29

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 Consumer Electronics stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Apple Inc AAPL $313.33 $122.91 -61%
Samsung Electronics Co 005930 255,000 KRW 138,019 KRW -46%
Sony Group SONYN 366.00 MXN 468.94 MXN +28%
Xiaomi Corporation 1810 HK$26.88 HK$39.84 +48%
LG Electronics Inc 066570 179,000 KRW 101,531 KRW -43%
Sharetronic Data Technology Co 300857 ¥277.96 ¥35.89 -87%
Huaqin Co 603296 ¥78.20 ¥65.69 -16%
Goertek Inc 002241 ¥22.25 ¥18.86 -15%
LG Corp 003550 102,400 KRW 93,881 KRW -8%
Anker Innovations Limited 300866 ¥105.92 ¥78.52 -26%

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Frequently asked questions

Is Formosa Prosonic Industries Berhad, (9172) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 1.95 MYR versus a price of 1.23 MYR, about +59% (undervalued).
What is the fair value of 9172?
Our model-based fair value for Formosa Prosonic Industries Berhad, is 1.95 MYR (as of Jul 14, 2026), built from audited fundamentals. The current price is 1.23 MYR.
What is the quality score of 9172?
Formosa Prosonic Industries Berhad, has a Quality Score of 59/100. 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 Formosa Prosonic Industries Berhad, (9172)?
Formosa Prosonic Industries Berhad, reported trailing-twelve-month revenue of about 411M MYR (latest available figure, as of Jul 14, 2026).
What is the net profit margin of 9172?
The net profit margin of Formosa Prosonic Industries Berhad, is about 7.0%, meaning it keeps roughly 7.0% of revenue as net income. Based on the latest reported figures.
Does Formosa Prosonic Industries Berhad, pay a dividend?
Formosa Prosonic Industries Berhad, currently shows a dividend yield of about 10.58% relative to its recent price (as of Jul 14, 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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