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ETA Group (9946) Fair Value & Analysis

Consumer Defensive · MY · Market cap 82.2M MYR

EG ETA Group 9946 · KLSE
Price0.1200 MYR
Fair Value0.1100 MYR
Upside-8.3%
Quality95/100
Evidence: Medium Range 0.1000 MYR – 0.1400 MYR

Fair value as of: Jun 26, 2026

From 13 valuation models · updated 3 days ago

Share price −7.7% over the past month.

Price vs Fair Value (12 months)

0.2450 MYR 0.1000 MYR Fair Value 0.1100 MYR Jun 2025 Jun 2026

12‑month range 0.1000 MYR – 0.2450 MYR · fair‑value band 0.1000 MYR – 0.1400 MYR · the 0.1200 MYR price screens above the 0.1100 MYR fair value. As of Jun 26, 2026.

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Analysis

ETA Group (9946) currently trades at 0.1200 MYR, while our model-based Fair Value estimate is 0.1100 MYR — implying the stock looks roughly 8.3% overvalued today. We read business quality at 95/100 (high quality), in the Consumer Defensive 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: medium).

Over the trailing twelve months, ETA Group generated revenue of 105M MYR at a net margin of 3.3%. Revenue declined 11.7% year over year. It earns a return on equity of 6.3%. Net debt stands at 8.5M MYR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 105M MYR
Revenue growth (YoY) -11.7%
Net margin 3.3%
Return on equity 6.3%
Free cash flow −43.1M MYR FY2025
P/E ratio 12.5
More key figures
Operating margin 2.4%
EPS (TTM) 0.0100 MYR
Net debt 8.5M MYR FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

ETA Group Berhad, an investment holding company, engages in the manufacture, distribution, trading, and export of halal canned food, frozen food, beverage, chocolate malt and premix products, and coconut milk. It operates in Malaysia, the United States, Europe, and rest of Asia. The company was formerly known as Rex Industry Berhad and change its name to ETA Group Berhad in November 2025. The company was founded in 1965 and is headquartered in Kuala Lumpur, Malaysia. As of July 25, 2025, ETA Group Berhad operates as a subsidiary of ETA Industries Sdn. Bhd.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ETA Group reported revenue of 157M MYR in FY2025 versus 161M MYR in FY2021, a compound −0.6%/yr. Reported net income was 5.2M MYR in FY2025, compounding +26.5%/yr from FY2021.

Revenue −0.6%/yr
FY21 161M MYR
FY22 162M MYR
FY23 131M MYR
FY24 134M MYR
FY25 157M MYR
Net income +26.5%/yr
FY21 2.0M MYR
FY22 −44.4M MYR
FY23 −4.2M MYR
FY24 8.9M MYR
FY25 5.2M MYR

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6 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

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Frequently asked questions

Is ETA Group (9946) undervalued?
As of Jun 26, 2026, our model estimates a fair value of 0.1100 MYR versus a price of 0.1200 MYR — about −8% (overvalued). Model-based estimate, not financial advice.
What is the fair value of 9946?
Our 21-model fair value for ETA Group is 0.1100 MYR (as of Jun 26, 2026), built from audited fundamentals. The current price is 0.1200 MYR.
What is the quality score of 9946?
ETA Group has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of ETA Group (9946)?
ETA Group reported trailing-twelve-month revenue of about 105M MYR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of 9946?
The net profit margin of ETA Group is about 3.3%, meaning it keeps roughly 3.3% of revenue as net income. Based on the latest reported figures.

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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.