Kelington Group Berhad

KLSE:KGB Stock Report

Market Cap: RM 2.3b

Kelington Group Berhad Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Discounted Cash Flow
Simply Wall St
RM 2.87
Fair Value
12.2% overvalued intrinsic discount
4
Number of Analysts

Below Fair Value: KGB (MYR3.22) is trading above our estimate of fair value (MYR2.87)

Significantly Below Fair Value: KGB is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for KGB. This is calculated by dividing KGB's market cap by their current earnings.
What is KGB's PE Ratio?
PE Ratio18.9x
EarningsRM 123.07m
Market CapRM 2.32b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for KGB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.9x
KERJAYA Kerjaya Prospek Group Berhad
16x13.7%RM 2.6b
MRCB Malaysian Resources Corporation Berhad
28.4x8.9%RM 1.8b
SUNCON Sunway Construction Group Berhad
30.3x16.0%RM 5.7b
AME AME Elite Consortium Berhad
13.1x6.5%RM 1.1b
KGB Kelington Group Berhad
18.9x12.9%RM 2.3b

Price-To-Earnings vs Peers: KGB is good value based on its Price-To-Earnings Ratio (18.9x) compared to the peer average (21.9x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NAIM Naim Holdings Berhad
1.8xn/aUS$93.69m
ZECON Zecon Berhad
1.3xn/aUS$16.06m
INGENIEU Ingenieur Gudang Berhad
1.8xn/aUS$10.26m
No more companies available in this PE range
KGB 18.9xIndustry Avg. 15.2xNo. of Companies10PE01020304050+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KGB is expensive based on its Price-To-Earnings Ratio (18.9x) compared to the MY Construction industry average (15.2x).

Price to Earnings Ratio vs Fair Ratio

What is KGB'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.

KGB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.9x
Fair PE Ratio17.3x

Price-To-Earnings vs Fair Ratio: KGB is expensive based on its Price-To-Earnings Ratio (18.9x) compared to the estimated Fair Price-To-Earnings Ratio (17.3x).

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 KGB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 3.22
RM 4.20
+30.5%
2.9%RM 4.33RM 4.03n/a4
Mar ’26RM 3.49
RM 4.20
+20.4%
2.9%RM 4.33RM 4.03n/a4
Feb ’26RM 3.34
RM 4.08
+22.2%
1.5%RM 4.16RM 4.02n/a4
Jan ’26RM 3.57
RM 4.08
+14.4%
1.5%RM 4.16RM 4.02n/a4
Dec ’25RM 3.49
RM 4.08
+17.0%
1.5%RM 4.16RM 4.02n/a4
Nov ’25RM 3.04
RM 3.95
+30.0%
4.1%RM 4.16RM 3.72n/a4
Oct ’25RM 3.06
RM 3.95
+29.2%
4.1%RM 4.16RM 3.72n/a4
Sep ’25RM 3.02
RM 3.94
+30.4%
3.7%RM 4.10RM 3.72n/a4
Aug ’25RM 3.47
RM 4.08
+17.6%
6.4%RM 4.50RM 3.85n/a4
Jul ’25RM 3.48
RM 4.08
+17.2%
6.4%RM 4.50RM 3.85n/a4
Jun ’25RM 3.15
RM 4.08
+29.5%
6.4%RM 4.50RM 3.85n/a4
May ’25RM 2.74
RM 3.00
+9.4%
12.3%RM 3.40RM 2.40n/a4
Apr ’25RM 2.68
RM 3.00
+11.8%
12.3%RM 3.40RM 2.40n/a4
Mar ’25RM 2.56
RM 2.88
+12.3%
13.1%RM 3.40RM 2.40RM 3.494
Feb ’25RM 2.20
RM 2.75
+24.9%
11.8%RM 3.28RM 2.40RM 3.344
Jan ’25RM 2.17
RM 2.55
+17.3%
17.0%RM 3.28RM 2.16RM 3.574
Dec ’24RM 1.91
RM 2.45
+28.0%
20.3%RM 3.28RM 2.00RM 3.494
Nov ’24RM 1.50
RM 1.91
+27.6%
12.4%RM 2.15RM 1.59RM 3.043
Oct ’24RM 1.50
RM 1.91
+27.6%
12.4%RM 2.15RM 1.59RM 3.063
Sep ’24RM 1.53
RM 1.91
+25.1%
12.4%RM 2.15RM 1.59RM 3.023
Aug ’24RM 1.45
RM 1.69
+16.6%
10.3%RM 1.92RM 1.44RM 3.475
Jul ’24RM 1.49
RM 1.69
+13.4%
10.3%RM 1.92RM 1.44RM 3.485
Jun ’24RM 1.39
RM 1.69
+21.6%
10.3%RM 1.92RM 1.44RM 3.155
May ’24RM 1.46
RM 1.74
+18.9%
7.5%RM 1.92RM 1.59RM 2.746
Apr ’24RM 1.47
RM 1.74
+18.1%
7.5%RM 1.92RM 1.59RM 2.686
Mar ’24RM 1.51
RM 1.80
+19.0%
8.5%RM 2.00RM 1.59RM 2.566
Analyst Price Target
Consensus Narrative from 4 Analysts
RM 4.20
Fair Value
23.4% undervalued intrinsic discount
4
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 Analysis2025/03/19 19:48
End of Day Share Price 2025/03/19 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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

Kelington Group Berhad is covered by 5 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Yi Jing ChuaAffin Hwang Investment Bank
Jia ChaiInter-Pacific Research Sdn Bhd
Cheow-Ming LiangKenanga Research