KESM Industries Bhd (9334) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of KESM Industries Bhd MYR 6.42, price MYR 4.25, upside +51.0%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch KESM Industries Bhd for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
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, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 2.38 MYR – 15.97 MYR · fair‑value band 4.97 MYR – 8.99 MYR · the 4.25 MYR price screens below the 6.42 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Follow KESM Industries Bhd in your weekly email
Every Wednesday you see whether KESM Industries Bhd is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
KESM Industries Berhad, an investment holding company, provides burn-in and test services to semiconductor manufacturers in Malaysia, the People's Republic of China, Singapore, the United States, and Europe.
Show more
KESM Industries Berhad, an investment holding company, provides burn-in and test services to semiconductor manufacturers in Malaysia, the People's Republic of China, Singapore, the United States, and Europe. The company also offers electrical testing of semiconductor integrated circuits, as well as tape and reel assembly services, and electronic manufacturing services. In addition, it engages in the scan and pack system business. KESM Industries Berhad was incorporated in 1972 and is headquartered in Petaling Jaya, Malaysia.
Stock analysis
KESM Industries Bhd (9334) currently trades at 4.25 MYR, while our model-based Fair Value estimate is 6.42 MYR, implying the stock looks roughly 33.8% undervalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of 5.80 MYR per share, and 11 of the 13 models we run sit above the 4.25 MYR price.
Bear case: the Dividend Discount group reads lowest at 0.7200 MYR, and 2 of the 13 models stay below the price. Evidence for this calculation is medium.
Scenario range: 4.97 MYR (bear) to 8.99 MYR (bull), the price of 4.25 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 53/100 (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.
KESM Industries Bhd reported revenue of 211M MYR in FY2025 versus 248M MYR in FY2021, a compound −4.0%/yr. Reported net income was −8.2M MYR in FY2025.
Key figures
Market cap 183M MYR (≈ $44.8M) · P/E ratio 26.6 · P/S ratio 0.78 · EPS (TTM) 0.1600 MYR · Dividend yield 1.4% · Net margin −3.9% · Return on equity 2.0% · Return on assets (EBIT) −0.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 62% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −17% fair-value upside, at 51%, 9334 screens cheaper than that median.
Fair Value models
Bear 4.97 MYRFair Value 6.42 MYRBull 8.99 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 2025 figures (about 12 months old). Earnings retained since then (0.1000 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.32/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−13.4%
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.
−5.1%
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.
−2.7%
Start year 2020 (pandemic). Over 10 years: −2.5% 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.
−1.2%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
0.7% (2020) → −5.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
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 %
Yearly growth needed for the next five years to justify today's price.
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Semiconductors · 339 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+48% · Top 25%
Profitability
Return on equity (TTM)2% · Below median
Return on assets0% · Below median
Net margin (TTM)3% · Below median
Operating margin (TTM)−1% · Bottom 25%
Growth and dividend
Revenue growth0% · Below median
Dividend yield (TTM)1.4% · Above median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Semiconductors median · lower = cheaper
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). "KESM Industries Bhd Fair Value". https://www.fairvalue-calculator.com/stock/9334
Frequently asked questions
Is KESM Industries Bhd (9334) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 6.42 MYR versus a price of 4.25 MYR, about +51% upside (undervalued).
What is the fair value of 9334?
Our model-based fair value for KESM Industries Bhd is 6.42 MYR (as of Sep 24, 2026), built from audited fundamentals. The current price: 4.25 MYR.
What is the quality score of 9334?
KESM Industries Bhd has a Quality Score of 53/100. 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 KESM Industries Bhd (9334)?
Our model-based price target is the fair value of 6.42 MYR (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 4.97 MYR, optimistic scenario 8.99 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the KESM Industries Bhd stock forecast for 2026?
Our models put fair value at 6.42 MYR, about +51% upside versus a price of 4.25 MYR (undervalued). Cautious scenario 4.97 MYR, optimistic scenario 8.99 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of KESM Industries Bhd (9334)?
KESM Industries Bhd reported trailing-twelve-month revenue of about 221M MYR (latest available figure, as of Sep 24, 2026).
Does KESM Industries Bhd pay a dividend?
KESM Industries Bhd currently shows a dividend yield of about 1.41% relative to its recent price (as of Sep 24, 2026).
What growth is priced into KESM Industries Bhd (9334)?
For today's price to be fair in a discounted-cash-flow model, KESM Industries Bhd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 9334 use?
Our models discount KESM Industries Bhd at 10.5 %: a base by market capitalisation (nano), damped by beta 0.80, 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 KESM Industries Bhd that is less than minus 40 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has KESM Industries Bhd (9334) delivered so far?
Over the past 5 years revenue at KESM Industries Bhd grew -2.7 % a year. The price currently implies less than minus 40 % 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 KESM Industries Bhd (9334) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into KESM Industries Bhd (less than minus 40 % 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 KESM Industries Bhd (9334)?
The free-cash-flow yield on the price is 8.94 %: that much free cash flow KESM Industries Bhd produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of KESM Industries Bhd (9334)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KESM Industries Bhd it is 6.42 MYR per share (as of Sep 24, 2026), against a price of 4.25 MYR. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is KESM Industries Bhd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 9334 trades below its calculated fair value: price 4.25 MYR, fair value 6.42 MYR, a gap of about +51% (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 9334?
No. The price is what the market pays today (4.25 MYR); the fair value is what the company's own numbers justify (6.42 MYR). For KESM Industries Bhd the two are 2.17 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is KESM Industries Bhd worth?
The market values KESM Industries Bhd at about 183M MYR (market capitalisation, as of Sep 24, 2026). Per share that is 4.25 MYR; our models calculate a fair value of 6.42 MYR per share.
What do the bullish and bearish scenarios say about 9334?
Our models span a range for KESM Industries Bhd: cautious scenario 4.97 MYR, base 6.42 MYR, optimistic 8.99 MYR per share (as of Sep 24, 2026, price 4.25 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9334?
KESM Industries Bhd trades at a price-to-earnings ratio of 26.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 6.42 MYR is built from several models across several years. Other multiples: P/B 0.1, P/S 0.2, EV/EBITDA 0.6.
How solid is the balance sheet of KESM Industries Bhd (9334)?
Balance-sheet figures for KESM Industries Bhd (as of Sep 24, 2026): return on equity 2.0%, debt of 0.01 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 9334 from its 52-week high?
KESM Industries Bhd trades at 4.25 MYR, about 13% below its 52-week high of 4.89 MYR and 62% above the low of 2.62 MYR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 6.42 MYR is for.
Which stocks are comparable to KESM Industries Bhd?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix 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 KESM Industries Bhd stock attractive at the current price?
The data as of Sep 24, 2026: price 4.25 MYR, calculated fair value 6.42 MYR (+51%), Quality Score 53/100, 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 9334 calculated?
We run KESM Industries Bhd 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 6.42 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 13.2 % above its aggregate fair value. KESM Industries Bhd currently trades 51 % 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 KESM Industries Bhd (9334)?
The closing price on Sep 24, 2026 was 4.25 MYR. Our model-based fair value is 6.42 MYR, about +51% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KESM Industries Bhd right now?
The price is below even our cautious bear case (4.97 MYR). The market is more pessimistic than our downside scenario. Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (4.97 MYR to 8.99 MYR) leaves room in how you read the outcome.
Key figures of KESM Industries Bhd
How large is the market capitalisation of KESM Industries Bhd (9334)?
The market capitalisation of KESM Industries Bhd is 183M MYR (≈ $44.8M). 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 KESM Industries Bhd (9334)?
The price-to-sales ratio of KESM Industries Bhd is 0.78 (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 KESM Industries Bhd (9334)?
Earnings per share at KESM Industries Bhd are 0.1600 MYR (price ÷ EPS = P/E 26.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of KESM Industries Bhd (9334)?
The dividend yield of KESM Industries Bhd is 1.4% (payout 37.5%). 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 KESM Industries Bhd (9334)?
The net margin of KESM Industries Bhd is −3.9% (fiscal year 2025). 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 KESM Industries Bhd (9334)?
The return on equity (ROE) of KESM Industries Bhd is 2.0% (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 KESM Industries Bhd (9334)?
On an EBIT basis the return on assets of KESM Industries Bhd is −0.4% (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 KESM Industries Bhd (9334)?
The operating margin of KESM Industries Bhd is −1.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KESM Industries Bhd (9334)?
Revenue at KESM Industries Bhd is growing +0.3% versus a year earlier (3y avg −5.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does KESM Industries Bhd (9334) carry?
The net debt of KESM Industries Bhd is 13.7M MYR (fiscal year 2018, ≈ 0.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch KESM Industries Bhd in the live analysis
One click puts KESM Industries Bhd on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
