Fraser & Neave Holdings Bhd

KLSE:F&N Stock Report

Market Cap: RM 10.3b

Fraser & Neave Holdings Bhd Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 F&N when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: F&N (MYR28) is trading below our estimate of fair value (MYR53.51)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for F&N?

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

The above table shows the Price to Earnings ratio for F&N. This is calculated by dividing F&N's market cap by their current earnings.
What is F&N's PE Ratio?
PE Ratio18.9x
EarningsRM 542.77m
Market CapRM 10.27b

Price to Earnings Ratio vs Peers

How does F&N's PE Ratio compare to its peers?

The above table shows the PE ratio for F&N vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.8x
SPRITZER Spritzer Bhd
14.9x6.8%RM 983.8m
PWROOT Power Root Berhad
20.1x16.3%RM 635.9m
LWSABAH Life Water Berhad
15.4x10.4%RM 440.1m
HEIM Heineken Malaysia Berhad
16.8x3.5%RM 7.1b
F&N Fraser & Neave Holdings Bhd
18.9x6.9%RM 10.3b

Price-To-Earnings vs Peers: F&N is expensive based on its Price-To-Earnings Ratio (18.9x) compared to the peer average (16.8x).

Price to Earnings Ratio vs Industry

How does F&N's PE Ratio compare vs other companies in the Asian Beverage Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
F&N 18.9xIndustry Avg. 18.8xNo. of Companies24PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: F&N is expensive based on its Price-To-Earnings Ratio (18.9x) compared to the Asian Beverage industry average (18.8x).

Price to Earnings Ratio vs Fair Ratio

What is F&N'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.

F&N PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.9x
Fair PE Ratio17.5x

Price-To-Earnings vs Fair Ratio: F&N is expensive based on its Price-To-Earnings Ratio (18.9x) compared to the estimated Fair Price-To-Earnings Ratio (17.5x).

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 F&N forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 28.00
RM 36.44
+30.1%
3.1%RM 38.30RM 34.44n/a6
Dec ’25RM 27.62
RM 36.44
+31.9%
3.1%RM 38.30RM 34.44n/a6
Nov ’25RM 30.92
RM 37.69
+21.9%
3.6%RM 39.00RM 34.97n/a6
Oct ’25RM 31.30
RM 37.69
+20.4%
3.6%RM 39.00RM 34.97n/a6
Sep ’25RM 29.90
RM 38.07
+27.3%
4.6%RM 40.60RM 34.97n/a6
Aug ’25RM 30.42
RM 38.50
+26.6%
6.5%RM 43.20RM 34.97n/a6
Jul ’25RM 31.80
RM 37.53
+18.0%
4.0%RM 39.00RM 34.50n/a6
Jun ’25RM 32.62
RM 37.53
+15.0%
4.0%RM 39.00RM 34.50n/a6
May ’25RM 31.60
RM 34.78
+10.1%
6.5%RM 37.80RM 31.70n/a5
Apr ’25RM 29.38
RM 33.40
+13.7%
7.1%RM 37.80RM 30.00n/a6
Mar ’25RM 29.52
RM 33.40
+13.1%
7.1%RM 37.80RM 30.00n/a6
Feb ’25RM 27.70
RM 32.67
+17.9%
8.5%RM 37.80RM 29.40n/a6
Jan ’25RM 28.16
RM 32.00
+13.6%
5.5%RM 33.80RM 29.40n/a6
Dec ’24RM 27.72
RM 32.00
+15.4%
5.5%RM 33.80RM 29.40RM 27.626
Nov ’24RM 25.76
RM 30.76
+19.4%
7.2%RM 33.80RM 28.30RM 30.926
Oct ’24RM 25.30
RM 30.76
+21.6%
7.2%RM 33.80RM 28.30RM 31.306
Sep ’24RM 25.50
RM 30.76
+20.6%
7.2%RM 33.80RM 28.30RM 29.906
Aug ’24RM 25.06
RM 30.76
+22.7%
7.2%RM 33.80RM 28.30RM 30.426
Jul ’24RM 25.22
RM 30.76
+22.0%
7.2%RM 33.80RM 28.30RM 31.806
Jun ’24RM 25.40
RM 30.76
+21.1%
7.2%RM 33.80RM 28.30RM 32.626
May ’24RM 26.52
RM 30.15
+13.7%
9.1%RM 33.80RM 26.11RM 31.606
Apr ’24RM 26.00
RM 29.42
+13.2%
8.2%RM 33.50RM 26.11RM 29.385
Mar ’24RM 27.50
RM 29.42
+7.0%
8.2%RM 33.50RM 26.11RM 29.525
Feb ’24RM 24.80
RM 26.56
+7.1%
10.2%RM 29.70RM 23.60RM 27.705
Jan ’24RM 21.58
RM 26.56
+23.1%
10.2%RM 29.70RM 23.60RM 28.165
Dec ’23RM 21.00
RM 26.56
+26.5%
10.2%RM 29.70RM 23.60RM 27.725

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 Analysis2024/12/26 10:22
End of Day Share Price 2024/12/26 00:00
Earnings2024/09/30
Annual Earnings2024/09/30

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 here.

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 .

Analyst Sources

Fraser & Neave Holdings Bhd is covered by 11 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null Research DepartmentAmInvestment Bank Berhad
Prem JearajasingamCGS International
Min-Tze ChuaKenanga Research