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SBS Nexus Berhad Stock Price

KLSE:SBS Community·RM 56.4m Market Cap
  • 1 Narratives written by author
  • 0 Comments on narratives written by author
  • 2 Fair Values set on narratives written by author

SBS Share Price Performance

RM 0.12
-0.12 (-52.08%)
RM 0.098
Fair Value
RM 0.12
-0.12 (-52.08%)
17.3% overvalued intrinsic discount
RM 0.098
Fair Value
Price RM 0.12
Hunter_Z RM 0.098

SBS Community Narratives

Fair Value
·
Fair Value RM 0.098 17.3% overvalued intrinsic discount

SBS Nexus首季业绩被一次性费用掩盖,市场估值或低估其盈利质量

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RM 0.098
17.3% overvalued intrinsic discount
Fair Value
Revenue
-0.56% p.a.
Profit Margin
14.68%
Future PE
7.43x
Price in 2031
RM 0.15

Trending Discussion

Updated Narratives

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SBS Nexus首季业绩被一次性费用掩盖,市场估值或低估其盈利质量

Fair Value: RM 0.098 17.3% overvalued intrinsic discount
2 users have set this as their fair value
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Snowflake Analysis

Excellent balance sheet with slight risk.

4 Risks
2 Rewards

SBS Nexus Berhad Key Details

RM 51.7m

Revenue

RM 33.0m

Cost of Revenue

RM 18.6m

Gross Profit

RM 11.1m

Other Expenses

RM 7.6m

Earnings

Last Reported Earnings
Mar 31, 2026
Next Reporting Earnings
n/a
0.015
36.09%
14.68%
10.1%
View Full Analysis

About SBS

Founded
2003
Employees
45
CEO
Chun Wong
WebsiteView website
www.sbsgroup.com.my

SBS Nexus Berhad provides branding and marketing solutions. It offers offline branding solutions, includes out-of-home media, public relations, event management, and offline publication services; and digital branding solutions comprising online marketing service, digital broadcasts, video production, digital-out-of-home media, and online media. The company also organizes and hosts business awards, and recognition events, and networking events; and develops mobile and web-based applications, and websites. It provides services to entrepreneurs, micro-SMEs, SMEs and corporations. SBS Nexus Berhad was founded in 2003 and is headquartered in Kuala Lumpur, Malaysia.

Recent SBS News & Updates

New Narrative May 31

SBS Nexus首季业绩被一次性费用掩盖,市场估值或低估其盈利质量

SBS Nexus Berhad(SBS) 近期公布截至2026年3月31日首季业绩,整体表现比账面净利所呈现的更具看点。公司首季录得营业额RM13.85 million、毛利RM5.52 million、税前盈利RM1.38 million,以及税后盈利RM0.43 million;毛利率达39.8%,高于2025财年的34.8%。 这显示公司在营收短期放缓的情况下,仍成功提升项目执行效率与成本控制能力。 更关键的是,首季净利偏低, 主要受到约RM2.4 million一次性上市费用影响。若剔除该非经常性费用,公司调整后税后盈利约为RM2.8 million,反而比上一季税后盈利高出约RM0.3 million。 换言之,若市场只看RM0.43 million账面净利,可能会误判SBS的真实经营盈利能力。 从业务结构来看,SBS仍以数码品牌解决方案为核心,该分部贡献集团67.1%的季度营收;线下品牌解决方案贡献RM4.23 million,商业线索开发业务贡献RM333,000。这种组合让公司不只是传统广告服务商,而是逐步向 “ 品牌策略、数码营销执行、商业转化 ” 一体化服务平台靠拢。 值得注意的是,虽然首季营业额按季下滑8.0%,主要因为2026年首三个月工作天数较少,但毛利却按季增长15.3%,毛利率也从上一季31.8%提升至39.8%。这类 “ 收入略降、毛利提升 ” 的组合,通常反映公司并非单纯靠规模扩张,而是在项目结构、成本管理和资源配置方面出现改善。 估值层面,市场似乎仍未完全反映这项改善。 以 RM0.115股价作为参考,并按公司截至2026年3月31日的4.90亿股股本计算,SBS市值约RM56 million。 公司同期持有现金及银行结余RM32.95 million、定存RM5.00 million,借款约RM4.77 million,粗略净现金约RM33 million。换言之,扣除净现金后,市场给予核心业务的隐含价值并不高。 若以首季调整后税后盈利RM2.8 million作简单年化参考,SBS的经营盈利能力并不弱。当然,单季年化不能视为全年预测,尤其品牌营销业务仍可能受项目周期影响; 但从现金水平、毛利率改善及调整后盈利来看,目前市场对公司的定价确实偏保守。 此外,公司IPO募集资金RM30.63 million,截至首季末仍有RM24.45 million尚待使用,主要用于新总部、业务扩张、品牌营销、偿还借款及营运资金。公司也已开始落实扩张计划,包括租赁新办公室、委任装修承包商,并自2026年初增聘6名员工。这意味着SBS并非只是“守住现有业务”,而是仍处于上市后的扩张阶段。 整体而言,SBS首季业绩应被解读为 “ 被一次性费用压低的稳健季度 ”。账面净利不抢眼,但调整后盈利、毛利率提升、净现金状态和未动用IPO资金,都反映公司具备继续扩张的基础。若未来几个季度能够维持较高毛利率,并将上市资金转化为更明显的收入与盈利增长,市场对SBS的低估有望逐步修正。
Analysis Article May 29

Earnings Troubles May Signal Larger Issues for SBS Nexus Berhad (KLSE:SBS) Shareholders

The subdued market reaction suggests that SBS Nexus Berhad's ( KLSE:SBS ) recent earnings didn't contain any surprises...

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