RCE Capital Berhad (9296) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of RCE Capital Berhad MYR 0.65, price MYR 0.98, upside -33.3%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range 0.4684 MYR – 1.58 MYR · fair‑value band 0.5000 MYR – 1.03 MYR · the 0.9750 MYR price screens above the 0.6500 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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RCE Capital Berhad, an investment holding company, provides financial services in Malaysia.
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RCE Capital Berhad, an investment holding company, provides financial services in Malaysia. It offers consumer financing, commercial financing, money lending, and shariah-compliant and conventional financing services; financial administrative services; and confirming, factoring, and industrial hire-purchase services in trade-related activities and general trading; as well as invests in securities. The company is also involved in the processing and administration of payroll collection, as well as management services. The company was formerly known as Rediffusion Berhad and changed its name to RCE Capital Berhad in October 2003. The company was incorporated in 1953 and is based in Kuala Lumpur, Malaysia. RCE Capital Berhad is a subsidiary of Amcorp Group Berhad.
Stock analysis
RCE Capital Berhad (9296) currently trades at 0.9750 MYR, while our model-based Fair Value estimate is 0.6500 MYR, implying the stock looks roughly 50.0% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 0.8300 MYR per share, and 2 of the 13 models we run sit above the 0.9750 MYR price.
Bear case: the Asset-Based group reads lowest at 0.4000 MYR, and 11 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.5000 MYR (bear) to 1.03 MYR (bull), the price of 0.9750 MYR sits inside 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 64/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
RCE Capital Berhad reported revenue of 356M MYR in FY2026 versus 299M MYR in FY2022, a compound +4.4%/yr. Reported net income was 127M MYR in FY2026, compounding −1.3%/yr from FY2022.
Key figures
Market cap 1.6B MYR (≈ $382M) · P/E ratio 10.8 · P/S ratio 3.85 · EPS (TTM) 0.0900 MYR · Dividend yield 6.7% · Net margin 35.5% · Return on equity 14.8% · Return on assets (EBIT) 5.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −32% fair-value upside, at −33%, 9296 screens richer than that median.
Fair Value models
Bear 0.5000 MYRFair Value 0.6500 MYRBull 1.03 MYR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (0.0122 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.Evidence ⓘEvidence = 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.76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.5%
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.
+3.3%
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.
+4.0%
Start year 2021 (pandemic). Over 10 years: +8.2% 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.
+8.0%
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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.
−6.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.1%
Dividend (yield on the price)6.7%
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.−13% vs −3%, slowing
Profit margin 2021 to 2026 ⓘ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.57% → 48%
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 5.5%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+14.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +12.0% a year for the price.
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.Credit Services · 331 stocks
Beats the industry median on 10/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside−33% · Below median
Profitability
Return on equity (TTM)15% · Top 25%
Return on assets4% · Above median
Net margin (TTM)53% · Top 25%
Operating margin (TTM)84% · Top 25%
Growth and dividend
Revenue growth3% · Below median
Dividend yield (TTM)6.7% · Top 25%
Balance sheet
Debt / equity1.28× · Above median
Valuation Multiplesvs Credit Services median · lower = cheaper
P/E (TTM)10.8× · Cheaper than median
P/B0.44× · Cheapest 25%
P/S (TTM)1.60× · Cheaper than median
P/FCF3.0× · Pricier than median
EV/EBITDA8.0× · Cheaper than median
PEG2.77× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 49
FUTURE (revenue growth)13· sector 36
PAST (return on equity)59· sector 32
HEALTH (low debt)36· sector 59
DIVIDEND (yield)100· sector 68
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "RCE Capital Berhad Fair Value". https://www.fairvalue-calculator.com/stock/9296
Frequently asked questions
Is RCE Capital Berhad (9296) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 0.6500 MYR versus a price of 0.9750 MYR, about −33% upside (overvalued).
What is the fair value of 9296?
Our model-based fair value for RCE Capital Berhad is 0.6500 MYR (as of Sep 23, 2026), built from audited fundamentals. The current price: 0.9750 MYR.
What is the quality score of 9296?
RCE Capital Berhad has a Quality Score of 64/100. 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 RCE Capital Berhad (9296)?
Our model-based price target is the fair value of 0.6500 MYR (as of Sep 23, 2026) from 13 valuation models. Cautious scenario 0.5000 MYR, optimistic scenario 1.03 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the RCE Capital Berhad stock forecast for 2026?
Our models put fair value at 0.6500 MYR, about −33% upside versus a price of 0.9750 MYR (overvalued). Cautious scenario 0.5000 MYR, optimistic scenario 1.03 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of RCE Capital Berhad (9296)?
RCE Capital Berhad reported trailing-twelve-month revenue of about 238M MYR (latest available figure, as of Sep 23, 2026).
Does RCE Capital Berhad pay a dividend?
RCE Capital Berhad currently shows a dividend yield of about 6.67% relative to its recent price (as of Sep 23, 2026).
What growth is priced into RCE Capital Berhad (9296)?
For today's price to be fair in a discounted-cash-flow model, RCE Capital Berhad would have to grow free cash flow by +14.2 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.0 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 9296 use?
Our models discount RCE Capital Berhad at 11.1 %: a base by market capitalisation (small), damped by beta 0.41, 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 RCE Capital Berhad that is +14.2 % per year a year over ten years, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has RCE Capital Berhad (9296) delivered so far?
Over the past 5 years revenue at RCE Capital Berhad grew +4.0 % a year. The price currently implies +14.2 % per year free-cash-flow growth a 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 RCE Capital Berhad (9296) growing?
The median revenue growth in the sector is +8.3 % a year. That is the yardstick for the growth priced into RCE Capital Berhad (+14.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of RCE Capital Berhad (9296)?
The free-cash-flow yield on the price is 8.79 %: that much free cash flow RCE Capital Berhad produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of RCE Capital Berhad (9296)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For RCE Capital Berhad it is 0.6500 MYR per share (as of Sep 23, 2026), against a price of 0.9750 MYR. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is RCE Capital Berhad stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 9296 trades above its calculated fair value: price 0.9750 MYR, fair value 0.6500 MYR, a gap of about −33% (overvalued). 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 9296?
No. The price is what the market pays today (0.9750 MYR); the fair value is what the company's own numbers justify (0.6500 MYR). For RCE Capital Berhad the two are 0.3250 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is RCE Capital Berhad worth?
The market values RCE Capital Berhad at about 1.6B MYR (market capitalisation, as of Sep 23, 2026). Per share that is 0.9750 MYR; our models calculate a fair value of 0.6500 MYR per share.
What do the bullish and bearish scenarios say about 9296?
Our models span a range for RCE Capital Berhad: cautious scenario 0.5000 MYR, base 0.6500 MYR, optimistic 1.03 MYR per share (as of Sep 23, 2026, price 0.9750 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9296?
RCE Capital Berhad trades at a price-to-earnings ratio of 10.8 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.6500 MYR is built from several models across several years. Other multiples: PEG 2.8, P/B 0.4, P/S 1.6, EV/EBITDA 8.0.
What is the PEG ratio of 9296?
The PEG ratio of RCE Capital Berhad is 2.77 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of RCE Capital Berhad (9296)?
Balance-sheet figures for RCE Capital Berhad (as of Sep 23, 2026): return on equity 14.8%, debt of 1.28 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 9296 from its 52-week high?
RCE Capital Berhad trades at 0.9750 MYR, about 18% below its 52-week high of 1.19 MYR and 4% above the low of 0.9350 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.6500 MYR is for.
Which stocks are comparable to RCE Capital Berhad?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, 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 RCE Capital Berhad stock attractive at the current price?
The data as of Sep 23, 2026: price 0.9750 MYR, calculated fair value 0.6500 MYR (−33%), Quality Score 64/100, from 13 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 9296 calculated?
We run RCE Capital Berhad through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 0.6500 MYR, 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 13.0 % above its aggregate fair value. RCE Capital Berhad itself currently trades above fair value. 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 RCE Capital Berhad (9296)?
The closing price on Sep 24, 2026 was 0.9750 MYR. Our model-based fair value is 0.6500 MYR, about −33% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with RCE Capital Berhad right now?
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 but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (0.5000 MYR to 1.03 MYR) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of RCE Capital Berhad
How large is the market capitalisation of RCE Capital Berhad (9296)?
The market capitalisation of RCE Capital Berhad is 1.6B MYR (≈ $382M). 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 RCE Capital Berhad (9296)?
The price-to-sales ratio of RCE Capital Berhad is 3.85 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of RCE Capital Berhad (9296)?
Earnings per share at RCE Capital Berhad are 0.0900 MYR (price ÷ EPS = P/E 10.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of RCE Capital Berhad (9296)?
The dividend yield of RCE Capital Berhad is 6.7% (payout 72.2%). 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 RCE Capital Berhad (9296)?
The net margin of RCE Capital Berhad is 35.5% (fiscal year 2026). 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 RCE Capital Berhad (9296)?
The return on equity (ROE) of RCE Capital Berhad is 14.8% (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 RCE Capital Berhad (9296)?
On an EBIT basis the return on assets of RCE Capital Berhad is 5.9% (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 RCE Capital Berhad (9296)?
The operating margin of RCE Capital Berhad is 84.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at RCE Capital Berhad (9296)?
Revenue at RCE Capital Berhad is growing +2.5% versus a year earlier (3y avg +3.3%). 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 RCE Capital Berhad (9296)?
Earnings per share at RCE Capital Berhad are growing +109% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does RCE Capital Berhad (9296) carry?
The net debt of RCE Capital Berhad is 1.3B MYR (fiscal year 2026, ≈ 10.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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