99 Speed Mart Retail Holdings Berhad Valuation

Q: What is the Fair Price of 99SMART when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

99SMART (MYR2.37) is trading above our estimate of [[fair value]] (MYR2.26)

Is 99SMART undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

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 99SMART when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 99SMART (MYR2.37) is trading above our estimate of fair value (MYR2.26)

Significantly Below Fair Value: 99SMART is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 99SMART?

Key metric: As 99SMART is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 99SMART. This is calculated by dividing 99SMART's market cap by their current earnings.
What is 99SMART's PE Ratio?
PE Ratio	47.2x
Earnings	RM 421.51m
Market Cap	RM 19.91b

99SMART 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	2.2x
Enterprise Value/EBITDA	29.5x
PEG Ratio	3.3x

Price to Earnings Ratio vs Peers

How does 99SMART's PE Ratio compare to its peers?

The above table shows the PE ratio for 99SMART 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	19.2x
AEON Aeon (M) Bhd	15.6x	10.5%	RM 2.0b
BESHOM Beshom Holdings Berhad	24.3x	22.2%	RM 257.9m
CENCOSUD Cencosud	24.2x	39.0%	CL$5.5t
INRETC1 InRetail Perú	12.7x	7.9%	US$3.4b
99SMART 99 Speed Mart Retail Holdings Berhad	47.2x	14.5%	RM 19.9b

Price-To-Earnings vs Peers: 99SMART is expensive based on its Price-To-Earnings Ratio (47.2x) compared to the peer average (19.2x).

Price to Earnings Ratio vs Industry

How does 99SMART's PE Ratio compare vs other companies in the Asian Consumer Retailing Industry?

6 Companies	Price / Earnings	Estimated Growth	Market Cap

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 99SMART is expensive based on its Price-To-Earnings Ratio (47.2x) compared to the Asian Consumer Retailing industry average (16.1x).

Price to Earnings Ratio vs Fair Ratio

What is 99SMART'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.

99SMART PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	47.2x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 99SMART's Price-To-Earnings Fair Ratio for valuation analysis.

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 99SMART 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 2.37	RM 2.72 +14.7%	6.8%	RM 2.98	RM 2.50	n/a	4
Nov ’25	RM 2.33	RM 2.32 -0.5%	14.8%	RM 2.79	RM 1.98	n/a	4
Oct ’25	RM 2.25	RM 2.12 -5.9%	10.4%	RM 2.50	RM 1.98	n/a	4

Analyst Forecast: Target price is less than 20% higher than the current share price.