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KKB Engineering Berhad, (9466) Fair Value & Analysis

Industrials · MY · Market cap 326M MYR

KE KKB Engineering Berhad, 9466 · KLSE
Price1.04 MYR
Fair Value0.8800 MYR
Upside-15.4%
Quality58/100
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Weak Growth
Thin margins · 7.2% net margin
Low debt · generates free cash flow
3.36% dividend yield
Ranks above peers (9/14)
Narrow moat 29/100
Evidence: High Range 0.6600 MYR – 1.08 MYR Share as image

Fair value as of: Jul 16, 2026

From 24 valuation models · updated 25 days ago

Share price −16.1% over the past month.

A solid business, but screening 15% overvalued on our models.

What matters now

  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from 0.6600 MYR (bear) to 1.08 MYR (bull), base 0.8800 MYR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 58/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

1.69 MYR 1.01 MYR Fair Value 0.8800 MYR Apr 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 1.01 MYR – 1.69 MYR · fair‑value band 0.6600 MYR – 1.08 MYR · the 1.04 MYR price screens above the 0.8800 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

KKB Engineering Berhad, (9466) currently trades at 1.04 MYR, while our model-based Fair Value estimate is 0.8800 MYR, implying the stock looks roughly 15.4% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials 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, KKB Engineering Berhad, generated revenue of 157M MYR at a net margin of 7.2%. Revenue declined 45.5% year over year. It earns a return on equity of 2.6%. The stock trades on a trailing P/E of 26.3. Fundamentals as of Jul 16, 2026

Our scenario range runs from 0.6600 MYR (bear case) to 1.08 MYR (bull case); at 1.04 MYR, the current price sits within 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 26% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -72% fair-value upside, at -15%, 9466 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
Growth DCF 1.00 MYR 1.25 MYR 1.63 MYR 80
Residual Income 0.9900 MYR 0.9700 MYR 0.8200 MYR 76
Rev-Margin DCF 0.5600 MYR 0.6500 MYR 0.7700 MYR 74
All 24 models by family
DCF Models
FCF DCF 0.9800 MYR 1.23 MYR 1.67 MYR 38
Owner Earnings 0.7500 MYR 0.9400 MYR 1.25 MYR 31
5Y Revenue Exit 0.5600 MYR 0.6300 MYR 0.7200 MYR 39
5Y EBITDA Exit 0.6900 MYR 0.8600 MYR 1.08 MYR 41
5Y P/E Exit 0.8900 MYR 1.21 MYR 1.58 MYR 38
10Y Revenue Exit 0.7400 MYR 0.8000 MYR 0.8600 MYR 36
10Y EBITDA Exit 0.8100 MYR 0.9300 MYR 1.05 MYR 37
10Y P/E Exit 0.9300 MYR 1.13 MYR 1.32 MYR 35
Earnings-Based
Graham-Dodd 0.3500 MYR 0.4300 MYR 0.4900 MYR 54
EPV 0.1800 MYR 0.1900 MYR 0.1900 MYR 59
Dividend Discount
Gordon GGM 0.5800 MYR 0.6300 MYR 0.7000 MYR 70
DDM Multi-Stage 0.5800 MYR 0.6900 MYR 0.8400 MYR 61
Multiples
P/E Multiple 0.8200 MYR 1.09 MYR 1.36 MYR 63
P/S Multiple 0.6600 MYR 0.8800 MYR 1.10 MYR 58
P/B Multiple 0.6600 MYR 0.8800 MYR 1.10 MYR 55
EV/EBIT 0.2900 MYR 0.3400 MYR 0.3900 MYR 53
EV/EBITDA 0.5300 MYR 0.6600 MYR 0.7900 MYR 54
EV/Revenue 0.2400 MYR 0.2900 MYR 0.3400 MYR 43
Asset-Based
NCAV (Graham) 0.7000 MYR 0.9400 MYR 1.41 MYR 50
Growth DCF
Growth DCF 1.00 MYR 1.25 MYR 1.63 MYR 80
Rev-Margin DCF 0.5600 MYR 0.6500 MYR 0.7700 MYR 74
Economic Profit
Residual Income 0.9900 MYR 0.9700 MYR 0.8200 MYR 76
ROIC Compounder 0.1800 MYR 0.1900 MYR 0.1900 MYR 72
Growth Earnings
Growth-Adj P/E 0.5800 MYR 0.8200 MYR 1.07 MYR 68

Widest divergence: Asset-Based (0.9400 MYR) versus Earnings-Based (0.1900 MYR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 157M MYR
Revenue growth (YoY) -45.5%
Net margin 7.2%
Return on equity 2.6%
Free cash flow 30.1M MYR FY2025
P/E ratio 26.3
More key figures
Operating margin -25.9%
EPS (TTM) 0.0400 MYR
Dividend yield 3.6%
EPS growth (YoY) -36.6%

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 40

Profitability 22
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 85
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 82
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

KKB Engineering Berhad, together with its subsidiaries, engages in the steel fabrication, civil construction, hot dip galvanizing, and LP gas cylinders manufacturing businesses in Malaysia.

Full company description

KKB Engineering Berhad, together with its subsidiaries, engages in the steel fabrication, civil construction, hot dip galvanizing, and LP gas cylinders manufacturing businesses in Malaysia. The company supplies, fabricates, and installs steel structures, piping spool, steel storage tanks, and other special fabricated items; fabricates transmission and communication towers, cable ladders, industrial accessories, and lighting columns; and offers skid tank, steel lighting column, steel distribution pole, W-beam guardrail, gate, pipe bridge support, spun pile, tote tank, and bouy. It also designs and builds construction projects; engineering, procurement, construction, and commissioning scopes; architectural steel structures; petrol service stations; factories and plants; and supplies, lays, test, and commissions gas and water pipelines. In addition, the company offers hot-dip galvanizing services for steel products, such as bolts and nuts, cable ladders, telco towers, street lighting columns, high and low tension poles, angles bars, pipes, tubes and channels, gate and fencing, gratings and chequered plates, platforms, and other steel fabricated items. Further, it designs, manufactures, and reconditions domestic and industrial LP gas cylinders; and manufactures steel tubular, and mild steel concrete and mild steel polyurethane lined pipes, as well as pipe specials for foundation, dredging, land reclamation, and water and sewage delivery systems. Additionally, the company manufactures uPVC roofing sheets and pipes, and other related products; operates as a building contractor; undertakes earthworks, water and civil engineering works, and other contracting activities; provides general trading, structural assemblies and engineering, and construction and maintenance services; holds properties; and constructs and manufactures transportation and renewable energy projects. KKB Engineering Berhad was founded in 1962 and is headquartered in Kuching, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KKB Engineering Berhad, reported revenue of 177M MYR in FY2025 versus 392M MYR in FY2021, a compound −18.0%/yr. Reported net income was 15.0M MYR in FY2025, compounding −12.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
177M MYR
Latest YoY
−72.1%
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.
−22.9%
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.
−15.4%
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.
+0.5%
Revenue −18.0%/yr
FY21 392M MYR
FY22 387M MYR
FY23 471M MYR
FY24 634M MYR
FY25 177M MYR
Net income −12.9%/yr
FY21 26.0M MYR
FY22 11.7M MYR
FY23 26.6M MYR
FY24 26.2M MYR
FY25 15.0M MYR

9466 screens 15% overvalued. Compare with Carpenter Technology Corporation →

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Cite: Fair Value Calculator (2026). "KKB Engineering Berhad, Fair Value". https://www.fairvalue-calculator.com/stock/9466

Peer Group

Metal Fabrication · 244 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 58 · Top 25%
Fair Value upside −15% · Above median
Return on equity (TTM) 3% · Below median
Return on assets 1% · Below median
Net margin (TTM) 7% · Above median
Operating margin (TTM) -26% · Bottom 25%
Revenue growth -46% · Bottom 25%
Dividend yield (TTM) 3.4% · Top 25%

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 28.3× · Pricier than median
P/B 0.20× · Cheaper than 75% of peers
P/S (TTM) 0.51× · Cheaper than median
P/FCF 2.6× · Cheaper than median
EV/EBITDA 3.3× · Cheaper than 75% of peers

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 13 · sector 0
FUTURE 0 · sector 36
PAST 10 · sector 21
HEALTH 100 · sector 95
DIVIDEND 67 · sector 25

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.

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Frequently asked questions

Is KKB Engineering Berhad, (9466) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 0.8800 MYR versus a price of 1.04 MYR, about −15% (overvalued).
What is the fair value of 9466?
Our model-based fair value for KKB Engineering Berhad, is 0.8800 MYR (as of Jul 16, 2026), built from audited fundamentals. The current price is 1.04 MYR.
What is the quality score of 9466?
KKB Engineering Berhad, has a Quality Score of 58/100. 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 KKB Engineering Berhad, (9466)?
KKB Engineering Berhad, reported trailing-twelve-month revenue of about 157M MYR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of 9466?
The net profit margin of KKB Engineering Berhad, is about 7.2%, meaning it keeps roughly 7.2% of revenue as net income. Based on the latest reported figures.
Does KKB Engineering Berhad, pay a dividend?
KKB Engineering Berhad, currently shows a dividend yield of about 3.62% relative to its recent price (as of Jul 16, 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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