MSM Malaysia Holdings Berhad

KLSE:MSM Stock Report

Market Cap: RM 815.5m

MSM Malaysia Holdings Berhad Valuation

Is MSM 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: MSM (MYR1.16) is trading above our estimate of fair value (MYR0.9)

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

Key Valuation Metric

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

Key metric: As MSM is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for MSM. This is calculated by dividing MSM's market cap by their current revenue.
What is MSM's PS Ratio?
PS Ratio0.2x
SalesRM 3.55b
Market CapRM 815.46m

Price to Sales Ratio vs Peers

How does MSM's PS Ratio compare to its peers?

The above table shows the PS ratio for MSM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.4x
CCK CCK Consolidated Holdings Berhad
0.9x3.9%RM 943.7m
AJI Ajinomoto (Malaysia) Berhad
1.4xn/aRM 926.6m
HUPSENG Hup Seng Industries Berhad
2.6x3.9%RM 960.0m
TEOSENG Teo Seng Capital Berhad
0.9x12.1%RM 660.4m
MSM MSM Malaysia Holdings Berhad
0.2x2.9%RM 815.5m

Price-To-Sales vs Peers: MSM is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (1.4x).

Price to Sales Ratio vs Industry

How does MSM's PS Ratio compare vs other companies in the MY Food Industry?

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.1.3x4.1%
MSM MSM Malaysia Holdings Berhad
 0.2x2.9%US$180.91m
FGV FGV Holdings Berhad
0.2x1.6%US$906.47m
LHI Leong Hup International Berhad
0.2x2.9%US$481.82m
MSM 0.2xIndustry Avg. 1.3xNo. of Companies15PS012345+
10 CompaniesEstimated GrowthMarket Cap
Industry Avg.1.3x8.2%
MSM MSM Malaysia Holdings Berhad
 0.2x87.5%US$180.91m
No more companies

Price-To-Sales vs Industry: MSM is good value based on its Price-To-Sales Ratio (0.2x) compared to the MY Food industry average (1.3x).

Price to Sales Ratio vs Fair Ratio

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

MSM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ratio0.4x

Price-To-Sales vs Fair Ratio: MSM is good value based on its Price-To-Sales Ratio (0.2x) compared to the estimated Fair Price-To-Sales Ratio (0.4x).

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 MSM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 1.16
RM 1.17
+0.9%
6.0%RM 1.24RM 1.10n/a2
Dec ’25RM 1.14
RM 1.17
+2.6%
6.0%RM 1.24RM 1.10n/a2
Nov ’25RM 1.25
RM 1.25
-0.4%
11.6%RM 1.39RM 1.10n/a2
Oct ’25RM 1.22
RM 1.25
+2.0%
11.6%RM 1.39RM 1.10n/a2
Sep ’25RM 1.16
RM 2.29
+97.0%
39.2%RM 3.18RM 1.39n/a2
Aug ’25RM 1.88
RM 3.39
+80.3%
6.2%RM 3.60RM 3.18n/a2
Jul ’25RM 2.45
RM 3.39
+38.4%
6.2%RM 3.60RM 3.18n/a2
Jun ’25RM 2.65
RM 3.39
+27.9%
6.2%RM 3.60RM 3.18n/a2
May ’25RM 3.22
RM 3.83
+18.9%
17.0%RM 4.48RM 3.18n/a2
Apr ’25RM 3.24
RM 3.31
+2.0%
3.8%RM 3.43RM 3.18n/a2
Mar ’25RM 2.57
RM 3.24
+25.9%
6.0%RM 3.43RM 3.04n/a2
Feb ’25RM 2.36
RM 2.37
+0.4%
28.3%RM 3.04RM 1.70n/a2
Jan ’25RM 1.61
RM 2.37
+47.2%
28.3%RM 3.04RM 1.70n/a2
Dec ’24RM 1.46
RM 1.81
+23.7%
53.5%RM 3.04RM 0.68RM 1.143
Nov ’24RM 1.25
RM 1.09
-13.2%
37.3%RM 1.49RM 0.68RM 1.252
Oct ’24RM 1.37
RM 1.09
-20.8%
37.3%RM 1.49RM 0.68RM 1.222
Sep ’24RM 1.39
RM 1.09
-21.9%
37.3%RM 1.49RM 0.68RM 1.162
Aug ’24RM 1.04
RM 1.02
-1.6%
33.4%RM 1.49RM 0.68RM 1.883
Jul ’24RM 1.10
RM 1.02
-7.0%
33.4%RM 1.49RM 0.68RM 2.453
Jun ’24RM 0.89
RM 1.00
+12.4%
35.2%RM 1.49RM 0.68RM 2.653
May ’24RM 0.88
RM 0.78
-11.2%
17.4%RM 0.95RM 0.57RM 3.224
Apr ’24RM 0.81
RM 0.78
-4.1%
17.4%RM 0.95RM 0.57RM 3.244
Mar ’24RM 0.78
RM 0.84
+8.2%
26.8%RM 1.20RM 0.57RM 2.574
Feb ’24RM 0.90
RM 0.84
-6.3%
26.8%RM 1.20RM 0.57RM 2.364
Jan ’24RM 0.85
RM 0.84
-0.7%
26.8%RM 1.20RM 0.57RM 1.614
Dec ’23RM 0.84
RM 0.84
+0.4%
26.8%RM 1.20RM 0.57RM 1.464

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/20 19:02
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 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

MSM Malaysia Holdings Berhad is covered by 13 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Wei-Nien ChowAffin Hwang Investment Bank
Huey GanAmInvestment Bank Berhad
null nullBIMB Securities Sdn. Bhd