IJM Corporation Berhad

KLSE:IJM Stock Report

Market Cap: RM 8.5b

IJM Corporation Berhad Valuation

Is IJM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of IJM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: IJM (MYR2.43) is trading above our estimate of future cash flow value (MYR1.65)

Significantly Below Future Cash Flow Value: IJM is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IJM?

Key metric: As IJM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for IJM. This is calculated by dividing IJM's market cap by their current earnings.
What is IJM's PE Ratio?
PE Ratio27.8x
EarningsRM 306.09m
Market CapRM 8.52b

Price to Earnings Ratio vs Peers

How does IJM's PE Ratio compare to its peers?

The above table shows the PE ratio for IJM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.3x
SUNCON Sunway Construction Group Berhad
25.4x7.76%RM 9.2b
KERJAYA Kerjaya Prospek Group Berhad
13.5x9.32%RM 3.0b
KGB Kelington Group Berhad
26x12.57%RM 3.9b
GAMUDA Gamuda Berhad
24.4x24.62%RM 25.0b
IJM IJM Corporation Berhad
27.8x23.21%RM 8.5b

Price-To-Earnings vs Peers: IJM is expensive based on its Price-To-Earnings Ratio (27.8x) compared to the peer average (22.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does IJM's PE Ratio compare vs other companies in the MY Construction Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PRTASCO Protasco Berhad
1.4xn/aUS$24.54m
TXCD Txcd Berhad
0.3xn/aUS$8.73m
No more companies available in this PE range
IJM 27.8xIndustry Avg. 15.4xNo. of Companies11PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IJM is expensive based on its Price-To-Earnings Ratio (27.8x) compared to the MY Construction industry average (14.6x).

Price to Earnings Ratio vs Fair Ratio

What is IJM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IJM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.8x
Fair PE Ratio30x

Price-To-Earnings vs Fair Ratio: IJM is good value based on its Price-To-Earnings Ratio (27.8x) compared to the estimated Fair Price-To-Earnings Ratio (30x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst IJM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 2.43
RM 3.25
+33.77%
8.37%RM 3.84RM 2.60n/a14
Mar ’27RM 2.51
RM 3.25
+29.51%
8.37%RM 3.84RM 2.60n/a14
Feb ’27RM 2.68
RM 3.15
+17.39%
9.95%RM 3.50RM 2.41n/a15
Jan ’27RM 2.27
RM 3.16
+39.37%
11.80%RM 3.60RM 2.41n/a15
Dec ’26RM 2.26
RM 3.19
+41.03%
10.49%RM 3.60RM 2.60n/a15
Nov ’26RM 2.48
RM 3.35
+34.97%
10.25%RM 4.00RM 2.80n/a15
Oct ’26RM 2.79
RM 3.35
+19.98%
10.25%RM 4.00RM 2.80n/a15
Sep ’26RM 2.87
RM 3.35
+16.63%
10.25%RM 4.00RM 2.80n/a15
Aug ’26RM 2.97
RM 3.25
+9.45%
10.24%RM 3.80RM 2.66n/a15
Jul ’26RM 2.67
RM 3.25
+21.75%
10.24%RM 3.80RM 2.66n/a15
Jun ’26RM 2.50
RM 3.23
+29.23%
11.35%RM 3.80RM 2.50n/a15
May ’26RM 2.27
RM 3.18
+40.25%
13.29%RM 3.89RM 2.41n/a16
Apr ’26RM 2.10
RM 3.23
+53.99%
13.11%RM 3.89RM 2.41n/a16
Mar ’26RM 2.10
RM 3.44
+63.90%
13.04%RM 4.20RM 2.50RM 2.5116
Feb ’26RM 2.39
RM 3.61
+50.93%
11.36%RM 4.40RM 3.00RM 2.6815
Jan ’26RM 3.04
RM 3.71
+21.89%
10.72%RM 4.40RM 3.10RM 2.2715
Dec ’25RM 2.98
RM 3.71
+24.34%
10.72%RM 4.40RM 3.10RM 2.2615
Nov ’25RM 3.02
RM 3.61
+19.38%
15.66%RM 4.40RM 2.10RM 2.4815
Oct ’25RM 2.99
RM 3.63
+21.55%
15.78%RM 4.40RM 2.10RM 2.7914
Sep ’25RM 2.87
RM 3.51
+22.25%
20.49%RM 4.40RM 2.00RM 2.8714
Aug ’25RM 3.49
RM 3.26
-6.59%
25.57%RM 4.40RM 1.90RM 2.9713
Jul ’25RM 3.04
RM 3.03
-0.30%
21.40%RM 3.89RM 1.90RM 2.6713
Jun ’25RM 2.75
RM 2.64
-4.10%
16.40%RM 3.16RM 1.90RM 2.5014
May ’25RM 2.42
RM 2.34
-3.16%
13.13%RM 2.88RM 1.90RM 2.2714
Apr ’25RM 2.37
RM 2.34
-1.38%
12.75%RM 2.88RM 1.90RM 2.1015
Mar ’25RM 2.15
RM 2.31
+7.29%
12.84%RM 2.88RM 1.90RM 2.1015
RM 3.25
Fair Value
25.2% undervalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/12 23:12
End of Day Share Price 2026/03/12 00:00
Earnings2025/12/31
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

IJM Corporation Berhad is covered by 31 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jia LimAffin Hwang Investment Bank
Chee Wei LoongAffin Hwang Investment Bank
Sheng Cheong SooAmInvestment Bank Berhad