Ramssol Group Berhad Valuation

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

RAMSSOL (MYR0.71) is trading below our estimate of [[fair value]] (MYR1.38)

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

Valuation Score

5/6

Valuation Score 5/6

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 RAMSSOL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: RAMSSOL (MYR0.71) is trading below our estimate of fair value (MYR1.38)

Significantly Below Fair Value: RAMSSOL is trading below fair value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for RAMSSOL. This is calculated by dividing RAMSSOL's market cap by their current earnings.
What is RAMSSOL's PE Ratio?
PE Ratio	17.6x
Earnings	RM 13.39m
Market Cap	RM 235.74m

RAMSSOL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	4x
Enterprise Value/EBITDA	13.1x
PEG Ratio	0.9x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for RAMSSOL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	37x
SCICOM Scicom (MSC) Berhad	11.3x	13.6%	RM 275.5m
CCIB CC International Berhad	66.1x	n/a	RM 167.9m
JAG JAG Berhad	58.7x	n/a	RM 222.7m
MTAG MTAG Group Berhad	11.8x	n/a	RM 238.6m
RAMSSOL Ramssol Group Berhad	17.6x	20.2%	RM 235.7m

Price-To-Earnings vs Peers: RAMSSOL is good value based on its Price-To-Earnings Ratio (17.6x) compared to the peer average (27.2x).

Price to Earnings Ratio vs Industry

How does RAMSSOL's PE Ratio compare vs other companies in the Asian Professional Services Industry?

3 Companies	Price / Earnings	Estimated Growth	Market Cap

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: RAMSSOL is good value based on its Price-To-Earnings Ratio (17.6x) compared to the Asian Professional Services industry average (19.3x).

Price to Earnings Ratio vs Fair Ratio

What is RAMSSOL'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.

RAMSSOL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	17.6x
Fair PE Ratio	15.4x

Price-To-Earnings vs Fair Ratio: RAMSSOL is expensive based on its Price-To-Earnings Ratio (17.6x) compared to the estimated Fair Price-To-Earnings Ratio (15.4x).

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 RAMSSOL forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	RM 0.71	RM 0.96 +35.6%	7.0%	RM 1.04	RM 0.86	n/a	4
Nov ’25	RM 0.67	RM 0.97 +45.9%	5.8%	RM 1.04	RM 0.89	n/a	4
Oct ’25	RM 0.57	RM 0.97 +70.2%	5.8%	RM 1.04	RM 0.89	n/a	4
Sep ’25	RM 0.60	RM 0.97 +61.7%	5.8%	RM 1.04	RM 0.89	n/a	4
Aug ’25	RM 0.68	RM 0.97 +42.6%	5.8%	RM 1.04	RM 0.89	n/a	4
Jul ’25	RM 0.65	RM 0.68 +4.6%	33.6%	RM 1.00	RM 0.48	n/a	3
Jun ’25	RM 0.52	RM 0.50 -3.2%	7.8%	RM 0.56	RM 0.46	n/a	4
May ’25	RM 0.45	RM 0.50 +10.8%	7.8%	RM 0.56	RM 0.46	n/a	4
Apr ’25	RM 0.45	RM 0.48 +6.5%	12.1%	RM 0.56	RM 0.40	n/a	4
Mar ’25	RM 0.38	RM 0.45 +19.0%	8.9%	RM 0.50	RM 0.40	n/a	3
Feb ’25	RM 0.36	RM 0.44 +21.9%	6.0%	RM 0.46	RM 0.40	n/a	3
Jan ’25	RM 0.38	RM 0.44 +15.5%	6.0%	RM 0.46	RM 0.40	n/a	3
Dec ’24	RM 0.38	RM 0.44 +17.1%	6.0%	RM 0.46	RM 0.40	n/a	3
Nov ’24	RM 0.41	RM 0.42 +1.2%	9.5%	RM 0.46	RM 0.38	RM 0.67	2
Oct ’24	RM 0.48	RM 0.42 -12.5%	9.5%	RM 0.46	RM 0.38	RM 0.57	2
Sep ’24	RM 0.38	RM 0.42 +10.5%	9.5%	RM 0.46	RM 0.38	RM 0.60	2
Aug ’24	RM 0.33	RM 0.43 +31.8%	5.7%	RM 0.46	RM 0.41	RM 0.68	2
Jul ’24	RM 0.33	RM 0.43 +33.8%	5.7%	RM 0.46	RM 0.41	RM 0.65	2
Jun ’24	RM 0.33	RM 0.43 +31.8%	5.7%	RM 0.46	RM 0.41	RM 0.52	2
May ’24	RM 0.40	RM 0.43 +10.1%	5.7%	RM 0.46	RM 0.41	RM 0.45	2
Apr ’24	RM 0.34	RM 0.43 +29.9%	5.7%	RM 0.46	RM 0.41	RM 0.45	2
Mar ’24	RM 0.36	RM 0.43 +19.2%	5.7%	RM 0.46	RM 0.41	RM 0.38	2
Feb ’24	RM 0.46	RM 0.47 +3.3%	5.3%	RM 0.50	RM 0.45	RM 0.36	2
Jan ’24	RM 0.44	RM 0.47 +8.0%	5.3%	RM 0.50	RM 0.45	RM 0.38	2
Dec ’23	RM 0.40	RM 0.47 +20.3%	5.3%	RM 0.50	RM 0.45	RM 0.38	2
Nov ’23	RM 0.40	RM 0.57 +43.8%	4.3%	RM 0.60	RM 0.55	RM 0.41	2

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