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Malaysian (KLSE) Market Analysis & Valuation

UpdatedJan 07, 2026
DataAggregated Company Financials
Companies1053
  • 7D0.3%
  • 3M1.2%
  • 1Y-1.4%
  • YTD0.8%

In the last week, the market has stayed flat, however the Real Estate sector stood out, gaining 3.8%. As for the longer term, the market has also been flat 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
Thu, 08 Jan 2026RM 2.0tRM 1.3tRM 118.7b14.2x17.1x1.5x
Sat, 06 Dec 2025RM 2.0tRM 1.3tRM 115.0b13.8x17.1x1.5x
Mon, 03 Nov 2025RM 2.0tRM 1.3tRM 112.4b14.6x17.6x1.5x
Wed, 01 Oct 2025RM 2.0tRM 1.3tRM 112.0b14.9x17.5x1.5x
Fri, 29 Aug 2025RM 1.9tRM 1.3tRM 113.0b14.6x16.9x1.5x
Sun, 27 Jul 2025RM 1.9tRM 1.3tRM 115.8b13.8x16.2x1.4x
Tue, 24 Jun 2025RM 1.8tRM 1.3tRM 115.8b13.4x15.8x1.4x
Thu, 22 May 2025RM 1.9tRM 1.3tRM 118.1b13.9x15.7x1.4x
Sat, 19 Apr 2025RM 1.8tRM 1.3tRM 118.2b13.7x15.1x1.4x
Mon, 17 Mar 2025RM 1.8tRM 1.3tRM 118.2b14.2x15.3x1.4x
Wed, 12 Feb 2025RM 2.0tRM 1.3tRM 115.4b15.1x17x1.5x
Fri, 10 Jan 2025RM 2.0tRM 1.3tRM 115.1b15.4x17.2x1.5x
Sun, 08 Dec 2024RM 2.0tRM 1.3tRM 114.7b15.6x17.4x1.6x
Tue, 05 Nov 2024RM 2.0tRM 1.3tRM 113.6b15.7x17.3x1.6x
Thu, 03 Oct 2024RM 2.0tRM 1.3tRM 113.3b15.7x17.6x1.6x
Sat, 31 Aug 2024RM 2.0tRM 1.3tRM 112.3b16.2x17.7x1.6x
Mon, 29 Jul 2024RM 2.0tRM 1.2tRM 105.8b18.1x19x1.6x
Wed, 26 Jun 2024RM 2.0tRM 1.2tRM 105.0b17.3x18.7x1.6x
Fri, 24 May 2024RM 2.0tRM 1.2tRM 100.5b17.8x20x1.7x
Sun, 21 Apr 2024RM 1.9tRM 1.2tRM 99.7b16.1x18.7x1.5x
Tue, 19 Mar 2024RM 1.8tRM 1.2tRM 99.4b15.9x18.6x1.5x
Thu, 15 Feb 2024RM 1.8tRM 1.2tRM 82.5b15.8x22.1x1.5x
Sat, 13 Jan 2024RM 1.8tRM 1.2tRM 82.8b15.8x21.8x1.5x
Mon, 11 Dec 2023RM 1.7tRM 1.2tRM 82.9b15.1x20.8x1.4x
Wed, 08 Nov 2023RM 1.7tRM 1.2tRM 79.6b15.8x22x1.4x
Fri, 06 Oct 2023RM 1.7tRM 1.2tRM 79.4b15.4x21.6x1.4x
Sun, 03 Sep 2023RM 1.7tRM 1.2tRM 79.1b15.9x22.1x1.4x
Tue, 01 Aug 2023RM 1.7tRM 1.2tRM 82.0b14.6x21x1.4x
Thu, 29 Jun 2023RM 1.6tRM 1.2tRM 82.8b13.8x19.8x1.3x
Sat, 27 May 2023RM 1.7tRM 1.2tRM 117.4b13.7x14.1x1.4x
Mon, 24 Apr 2023RM 1.7tRM 1.2tRM 119.0b13.2x14.1x1.4x
Wed, 22 Mar 2023RM 1.6tRM 1.2tRM 117.2b13.3x13.9x1.3x
Fri, 17 Feb 2023RM 1.7tRM 1.2tRM 139.2b13.8x12.4x1.4x
Sun, 15 Jan 2023RM 1.7tRM 1.2tRM 138.7b13.2x12.4x1.4x
Price to Earnings Ratio

12.4x


Total Market Cap: RM 1.7tTotal Earnings: RM 138.7bTotal Revenue: RM 1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Market Price to Earnings3Y Average 17.8x202420252026
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 17.8x.
Past Earnings Growth
  • The earnings for Malaysian listed companies have declined 5.1% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.8% 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, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the Malaysian Market?

MY Market0.29%
Real Estate3.82%
Tech3.11%
Telecom1.18%
Consumer Discretionary0.40%
Healthcare0.36%
Energy0.20%
Industrials0.084%
Consumer Staples0.075%
Financials0.018%
Materials-1.36%
Utilities-1.50%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 37.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 34.4%, which is higher than its past year's earnings growth of 0.2% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 21.9x.
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 0.2% 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
CDB Celcomdigi BerhadRM 3.406.6%
+RM 2.5b		-5.8%PE30.2xTelecom
MAYBANK Malayan Banking BerhadRM 10.681.9%
+RM 2.4b		6.2%PB1.4xFinancials
NESTLE Nestlé (Malaysia) BerhadRM 122.007.0%
+RM 1.9b		28.4%PE66.8xConsumer Staples
IJM IJM Corporation BerhadRM 2.7420.7%
+RM 1.6b		-15.2%PE23.8xIndustrials
HLBANK Hong Leong Bank BerhadRM 22.762.8%
+RM 1.3b		11.7%PB1.2xFinancials
See more

Market Insights

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With the backdrop of consistently strong broad market returns over the last few years, analysts are now looking at sector-specific plays that could outperform in 2026.
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IJM
RM 2.74
IJM Corporation Berhad
7D
20.7%
1Y
-15.2%
CDB
RM 3.40
Celcomdigi Berhad
7D
6.6%
1Y
-5.8%

Is There An Opportunity With Celcomdigi Berhad's (KLSE:CDB) 38% Undervaluation?

Jan 05
Is There An Opportunity With Celcomdigi Berhad's (KLSE:CDB) 38% Undervaluation?
CIMB
RM 8.06
CIMB Group Holdings Berhad
7D
-2.3%
1Y
-0.4%

CIMB: Future Returns Will Depend On Margin Resilience And Execution Discipline

Analysts have slightly reduced their price target for CIMB Group Holdings Berhad, trimming it by about $0.50 as they modestly recalibrate valuation assumptions in line with recent sector peers. Analyst Commentary Bullish analysts note that the modest reduction in the price target still implies meaningful upside from current trading levels, suggesting that CIMB Group Holdings Berhad remains attractively valued relative to regional banking peers.
GAMUDA
RM 4.87
Gamuda Berhad
7D
-2.2%
1Y
-6.2%

Gamuda Berhad (KLSE:GAMUDA) Seems To Use Debt Quite Sensibly

Jan 04
Gamuda Berhad (KLSE:GAMUDA) Seems To Use Debt Quite Sensibly
PPB
RM 10.62
PPB Group Berhad
7D
-4.0%
1Y
-13.9%

Market Participants Recognise PPB Group Berhad's (KLSE:PPB) Earnings

Jan 02
Market Participants Recognise PPB Group Berhad's (KLSE:PPB) Earnings
SIME
RM 2.06
Sime Darby Berhad
7D
-4.2%
1Y
-10.0%
MAYBANK
RM 10.68
Malayan Banking Berhad
7D
1.9%
1Y
6.2%
99SMART
RM 3.94
99 Speed Mart Retail Holdings Berhad
7D
3.4%
1Y
67.7%

Returns On Capital Signal Tricky Times Ahead For 99 Speed Mart Retail Holdings Berhad (KLSE:99SMART)

Jan 01
Returns On Capital Signal Tricky Times Ahead For 99 Speed Mart Retail Holdings Berhad (KLSE:99SMART)
MAXIS
RM 3.90
Maxis Berhad
7D
2.9%
1Y
9.6%

Maxis Berhad (KLSE:MAXIS) Shares Could Be 42% Below Their Intrinsic Value Estimate

Dec 31
Maxis Berhad (KLSE:MAXIS) Shares Could Be 42% Below Their Intrinsic Value Estimate
TM
RM 7.80
Telekom Malaysia Berhad
7D
-3.1%
1Y
19.4%

Telekom Malaysia Berhad (KLSE:TM) Has A Pretty Healthy Balance Sheet

Dec 29
Telekom Malaysia Berhad (KLSE:TM) Has A Pretty Healthy Balance Sheet
IHH
RM 8.58
IHH Healthcare Berhad
7D
-1.9%
1Y
19.2%

Estimating The Intrinsic Value Of IHH Healthcare Berhad (KLSE:IHH)

Dec 24
Estimating The Intrinsic Value Of IHH Healthcare Berhad (KLSE:IHH)
PCHEM
RM 3.36
PETRONAS Chemicals Group Berhad
7D
-7.4%
1Y
-29.6%

PCHEM: Future Margins Will Likely Stay Compressed Amid Weak Demand

Analysts have nudged their price target on PETRONAS Chemicals Group Berhad slightly lower, trimming fair value from MYR2.18 to MYR2.06 as they temper profit margin expectations, despite modestly improving revenue growth forecasts and a lower discount rate. Analyst Commentary Bearish analysts interpret the latest price target reduction as a signal that medium term profitability for PETRONAS Chemicals Group Berhad may be structurally weaker than previously assumed, even as revenue expectations inch higher.
MISC
RM 7.63
MISC Berhad
7D
-2.2%
1Y
5.5%
NESTLE
RM 122.00
Nestlé (Malaysia) Berhad
7D
7.0%
1Y
28.4%

We Think Nestlé (Malaysia) Berhad (KLSE:NESTLE) Can Stay On Top Of Its Debt

Dec 10
We Think Nestlé (Malaysia) Berhad (KLSE:NESTLE) Can Stay On Top Of Its Debt
UTDPLT
RM 31.44
United Plantations Berhad
7D
4.6%
1Y
50.3%

Estimating The Intrinsic Value Of United Plantations Berhad (KLSE:UTDPLT)

Dec 08
Estimating The Intrinsic Value Of United Plantations Berhad (KLSE:UTDPLT)
HLBANK
RM 22.76
Hong Leong Bank Berhad
7D
2.8%
1Y
11.7%