Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Malaysian (KLSE) Market Analysis & Valuation

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies1056
  • 7D0.9%
  • 3M6.6%
  • 1Y8.4%
  • YTD4.7%

In the last week, the market has stayed flat, however the Communication Services sector stood out, gaining 3.3%. More promisingly, the market is up 8.4% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Trending IndustriesOil and GasSoftware

Market Valuation and Performance

Has the Malaysian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Feb 2026RM 2.1tRM 1.3tRM 119.6b14.2x17.7x1.6x
Thu, 22 Jan 2026RM 2.1tRM 1.3tRM 118.7b14.1x17.5x1.6x
Sat, 20 Dec 2025RM 2.0tRM 1.3tRM 118.7b13.9x16.9x1.5x
Mon, 17 Nov 2025RM 2.0tRM 1.3tRM 113.4b14.4x17.5x1.5x
Wed, 15 Oct 2025RM 2.0tRM 1.3tRM 112.0b14.6x17.7x1.5x
Fri, 12 Sep 2025RM 1.9tRM 1.3tRM 112.2b14.4x17.1x1.5x
Sun, 10 Aug 2025RM 1.9tRM 1.3tRM 115.8b13.9x16.3x1.4x
Tue, 08 Jul 2025RM 1.9tRM 1.3tRM 115.7b13.8x16.2x1.4x
Thu, 05 Jun 2025RM 1.8tRM 1.3tRM 115.4b13.6x15.8x1.4x
Sat, 03 May 2025RM 1.8tRM 1.3tRM 118.0b14.1x15.6x1.4x
Mon, 31 Mar 2025RM 1.8tRM 1.3tRM 118.2b14.3x15.5x1.4x
Wed, 26 Feb 2025RM 1.9tRM 1.3tRM 114.6b14.6x16.4x1.5x
Fri, 24 Jan 2025RM 2.0tRM 1.3tRM 115.3b15.2x17x1.5x
Sun, 22 Dec 2024RM 2.0tRM 1.3tRM 115.0b15.2x17.1x1.5x
Tue, 19 Nov 2024RM 2.0tRM 1.3tRM 113.7b15.4x17.2x1.5x
Thu, 17 Oct 2024RM 2.0tRM 1.3tRM 113.8b15.3x17.4x1.6x
Sat, 14 Sep 2024RM 2.0tRM 1.3tRM 113.2b15.3x17.4x1.6x
Mon, 12 Aug 2024RM 2.0tRM 1.2tRM 106.1b17.1x18.4x1.6x
Wed, 10 Jul 2024RM 2.0tRM 1.2tRM 105.7b17.8x19x1.6x
Fri, 07 Jun 2024RM 2.0tRM 1.2tRM 104.9b17.1x19x1.6x
Sun, 05 May 2024RM 1.9tRM 1.2tRM 99.8b16.7x19.3x1.6x
Tue, 02 Apr 2024RM 1.9tRM 1.2tRM 99.5b16.1x18.7x1.5x
Thu, 29 Feb 2024RM 1.8tRM 1.2tRM 87.5b15.8x21x1.5x
Sat, 27 Jan 2024RM 1.8tRM 1.2tRM 82.9b15.8x21.9x1.5x
Mon, 25 Dec 2023RM 1.8tRM 1.2tRM 83.1b15.5x21.2x1.4x
Wed, 22 Nov 2023RM 1.8tRM 1.2tRM 80.1b15.9x21.9x1.4x
Fri, 20 Oct 2023RM 1.7tRM 1.2tRM 79.2b15.5x21.8x1.4x
Sun, 17 Sep 2023RM 1.7tRM 1.2tRM 79.7b15.6x21.8x1.4x
Tue, 15 Aug 2023RM 1.7tRM 1.2tRM 81.8b14.9x21.1x1.4x
Thu, 13 Jul 2023RM 1.7tRM 1.2tRM 82.5b13.8x20.1x1.3x
Sat, 10 Jun 2023RM 1.6tRM 1.2tRM 82.9b13.7x19.7x1.3x
Mon, 08 May 2023RM 1.7tRM 2.2tRM 203.1b13.2x8.3x0.8x
Wed, 05 Apr 2023RM 1.7tRM 1.2tRM 118.8b13.5x14.1x1.4x
Fri, 03 Mar 2023RM 1.7tRM 1.2tRM 119.0b13.6x14.2x1.4x
Price to Earnings Ratio

14.2x


Total Market Cap: RM 1.7tTotal Earnings: RM 119.0bTotal Revenue: RM 1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Market Price to Earnings3Y Average 18x202420252026
Current Market PE
  • Investors are relatively neutral on the Malaysian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 18.0x.
Past Earnings Growth
  • The earnings for Malaysian listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have grown 3.0% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Sector Trends

Which sectors have driven the changes within the Malaysian Market?

MY Market0.95%
Telecom3.30%
Tech2.58%
Healthcare2.22%
Energy1.83%
Financials1.37%
Consumer Discretionary1.28%
Consumer Staples0.94%
Industrials0.66%
Real Estate0.54%
Utilities-0.54%
Materials-1.83%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 39.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 34.1%, which is higher than its past year's earnings growth of 1.9% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 20.4x.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 34% over the next 5 years.
  • This is better than its past earnings growth rate of 1.9% per year.
  • In contrast, the Real Estate industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
MAYBANK Malayan Banking BerhadRM 12.202.2%
+RM 3.1b		16.4%PB1.6xFinancials
IHH IHH Healthcare BerhadRM 9.002.0%
+RM 1.6b		24.1%PE34.5xHealthcare
TM Telekom Malaysia BerhadRM 8.235.1%
+RM 1.5b		19.3%PE14.2xTelecom
CDB Celcomdigi BerhadRM 3.274.1%
+RM 1.5b		-5.5%PE25.3xTelecom
CIMB CIMB Group Holdings BerhadRM 8.501.4%
+RM 1.3b		1.4%PB1.3xFinancials
See more

Market Insights

Header cover image
Alternatives part 2: 2026 and beyond 🔭
Richard Bowman avatar
Richard Bowman
|
|
Deep dive into the exciting world of Private Equity, Real Estate, Private Credit, Infrastructure & Transport and Hedge Funds.
Continue reading
Dotcom Bubble vs. Now 🫧
Last Week

Dotcom Bubble vs. Now 🫧

Latest News

CDB
RM 3.27
Celcomdigi Berhad
7D
4.1%
1Y
-5.5%

CDB: Long Dated Spectrum And New CEO Will Support Future Upside

Analysts have trimmed their price target for Celcomdigi Berhad to MYR4.93 from MYR5.12 as they factor in updated assumptions for revenue growth, profit margins, and a slightly lower future P/E multiple. What's in the News Company issues earnings guidance for fiscal 2026, indicating expectations for low single digit EBIT growth for the year (Corporate guidance).
TENAGA
RM 14.14
Tenaga Nasional Berhad
7D
-1.9%
1Y
3.7%

TENAGA: Cross-Border Wheeling And New Solar Contract Will Support Upside

Analysts now set their fair value estimate for Tenaga Nasional Berhad at MYR15.93, a small move from MYR15.89. This reflects updated assumptions for discount rate, revenue growth, profit margin and future P/E.
IHH
RM 9.00
IHH Healthcare Berhad
7D
2.0%
1Y
24.1%

IHH: Incentive Plan And Refined Assumptions Will Support Balanced Outlook

Analysts have slightly lifted their fair value estimate for IHH Healthcare Berhad from MYR8.89 to MYR8.99, citing updated assumptions around revenue growth, profit margins, and a modestly higher future P/E multiple. What's in the News IHH Healthcare Berhad has scheduled a Special or Extraordinary Shareholders Meeting for Jan 20, 2026, at 14:00 Singapore Standard Time in Kuala Lumpur, Malaysia (Key Developments).
PCHEM
RM 3.29
PETRONAS Chemicals Group Berhad
7D
-4.1%
1Y
-12.0%

PCHEM: Refined Discount Rate And P E Framework Will Support Re Rating Potential

Analysts have lifted their MYR price target for PETRONAS Chemicals Group Berhad, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E. They see these assumptions as better aligning with current sector modeling and risk profiles.
CIMB
RM 8.50
CIMB Group Holdings Berhad
7D
1.4%
1Y
1.4%

CIMB: Future Returns Will Balance Special Dividend Payout And Earnings Multiple Assumptions

Analysts have raised their price target for CIMB Group Holdings Berhad from MYR 8.71 to MYR 8.99, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News CIMB Group Holdings Berhad declared a single tier special dividend of MYR 0.07 per ordinary share for the financial year ending 31 December 2025 (Key Developments).
99SMART
RM 3.65
99 Speed Mart Retail Holdings Berhad
7D
-2.1%
1Y
70.6%

Analyst Estimates: Here's What Brokers Think Of 99 Speed Mart Retail Holdings Berhad (KLSE:99SMART) After Its Yearly Report

Feb 16
Analyst Estimates: Here's What Brokers Think Of 99 Speed Mart Retail Holdings Berhad (KLSE:99SMART) After Its Yearly Report
MAXIS
RM 3.95
Maxis Berhad
7D
3.4%
1Y
13.8%

Earnings Update: Maxis Berhad (KLSE:MAXIS) Just Reported Its Annual Results And Analysts Are Updating Their Forecasts

Feb 15
Earnings Update: Maxis Berhad (KLSE:MAXIS) Just Reported Its Annual Results And Analysts Are Updating Their Forecasts
TM
RM 8.23
Telekom Malaysia Berhad
7D
5.1%
1Y
19.3%
CHINHIN
RM 2.24
Chin Hin Group Berhad
7D
-2.2%
1Y
3.7%

Returns Are Gaining Momentum At Chin Hin Group Berhad (KLSE:CHINHIN)

Feb 03
Returns Are Gaining Momentum At Chin Hin Group Berhad (KLSE:CHINHIN)
SDG
RM 5.92
SD Guthrie Berhad
7D
1.9%
1Y
18.4%
MAYBANK
RM 12.20
Malayan Banking Berhad
7D
2.2%
1Y
16.4%
YTLPOWR
RM 3.00
YTL Power International Berhad
7D
-1.6%
1Y
-5.4%

YTL Power International Berhad (KLSE:YTLPOWR) Has No Shortage Of Debt

Jan 30
YTL Power International Berhad (KLSE:YTLPOWR) Has No Shortage Of Debt
IOICORP
RM 4.09
IOI Corporation Berhad
7D
3.0%
1Y
6.5%

Getting In Cheap On IOI Corporation Berhad (KLSE:IOICORP) Is Unlikely

Jan 27
Getting In Cheap On IOI Corporation Berhad (KLSE:IOICORP) Is Unlikely
PMETAL
RM 7.53
Press Metal Aluminium Holdings Berhad
7D
-2.0%
1Y
46.8%

Returns On Capital Are Showing Encouraging Signs At Press Metal Aluminium Holdings Berhad (KLSE:PMETAL)

Jan 27
Returns On Capital Are Showing Encouraging Signs At Press Metal Aluminium Holdings Berhad (KLSE:PMETAL)
IJM
RM 2.59
IJM Corporation Berhad
7D
-2.3%
1Y
21.0%
SCIENTX
RM 3.78
Scientex Berhad
7D
-3.3%
1Y
-0.3%