Founder Group (FGL) Fair Value & Analysis

Industrials · US · Market cap $2.0M

Below-average quality, screening 105% undervalued on our models.

What matters now

• The large discount to fair value meets weak quality (24/100). That raises the risk this is a value trap rather than a bargain.
• The price is below even our cautious bear case ($1.07). The market is more pessimistic than our downside scenario.
• The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
• A fairly wide model range ($1.07 to $2.04) leaves room in how you read the outcome.

Price vs Fair Value (22 months)

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

22‑month range $0.7950 – $430.00 · fair‑value band $1.07 – $2.04 · the $0.7950 price screens below the $1.63 fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Founder Group (FGL) currently trades at $0.7950, while our model-based Fair Value estimate is $1.63, implying the stock looks roughly 105.3% undervalued today. The Quality Score stands at 24/100 (below-average quality), in the Industrials 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: low), always confirm before acting.

Over the trailing twelve months, Founder Group generated revenue of $121M at a net margin of -6.4%. Revenue grew 8.9% year over year. It earns a return on equity of -32.8%. Net debt stands at $48.0M. Fundamentals as of Jul 16, 2026

Our scenario range runs from $1.07 (bear case) to $2.04 (bull case); at $0.7950, 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. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 105%, FGL 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.

Widest divergence: Multiples ($1.92) versus Asset-Based ($0.5783). Highest evidence: EV/EBITDA (54).

Key figures & financial health

Quality Score breakdown

About the company

Founder Group Limited provides engineering, procurement, construction, and commissioning solutions (EPCC) for solar projects and commercial and industrial solar projects in Malaysia. It operates through the Large-scale solar, and Commercial & Industrial segments.

Full company description

Founder Group Limited provides engineering, procurement, construction, and commissioning solutions (EPCC) for solar projects and commercial and industrial solar projects in Malaysia. It operates through the Large-scale solar, and Commercial & Industrial segments. The company offers engineering and design services for solar PV array, including inverters, transformers, and interconnection to the power grid; procurement of construction materials and equipment for the solar PV facilities, including solar PV modules and balance of systems; and construction services, including civil, structural, mechanical, and electrical works, installation, integration of equipment, and interconnection to the power grid. It also provides commissioning, including testing of equipment and systems and testing of the installed solar PV facilities. In addition, the company engages in the installation, testing, and commissioning of PV modules, inverters, DC cables, and related works; supply of PV mounting structures; piling work; and operation and maintenance services. Founder Group Limited was founded in 2021 and is based in Klang, Malaysia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Founder Group reported revenue of $121M in FY2025 versus $25.2M in FY2021, a compound +48.0%/yr. Reported net income was −$7.8M in FY2025.

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Peer Group

Engineering & Construction · 842 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.

Valuation Multiples vs Engineering & Construction median · lower = cheaper

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.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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

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.