Maxis Berhad

KLSE:MAXIS Stock Report

Market Cap: RM 28.1b

Maxis Berhad Valuation

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

Below Fair Value: MAXIS (MYR3.59) is trading below our estimate of fair value (MYR6.16)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MAXIS. This is calculated by dividing MAXIS's market cap by their current earnings.
What is MAXIS's PE Ratio?
PE Ratio24.9x
EarningsRM 1.13b
Market CapRM 28.12b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MAXIS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average41.7x
AXIATA Axiata Group Berhad
105.9x37.7%RM 21.3b
CDB Celcomdigi Berhad
25.2x14.8%RM 41.6b
TM Telekom Malaysia Berhad
13.6x1.7%RM 24.3b
TIMECOM TIME dotCom Berhad
22.1x11.8%RM 8.7b
MAXIS Maxis Berhad
24.9x12.2%RM 28.1b

Price-To-Earnings vs Peers: MAXIS is good value based on its Price-To-Earnings Ratio (24.9x) compared to the peer average (41.7x).

Price to Earnings Ratio vs Industry

How does MAXIS's PE Ratio compare vs other companies in the Asian Wireless Telecom Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MAXIS 24.9xIndustry Avg. 18.0xNo. of Companies7PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MAXIS is expensive based on its Price-To-Earnings Ratio (24.9x) compared to the Asian Wireless Telecom industry average (17.9x).

Price to Earnings Ratio vs Fair Ratio

What is MAXIS'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.

MAXIS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.9x
Fair PE Ratio20.1x

Price-To-Earnings vs Fair Ratio: MAXIS is expensive based on its Price-To-Earnings Ratio (24.9x) compared to the estimated Fair Price-To-Earnings Ratio (20.1x).

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 MAXIS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 3.59
RM 3.86
+7.5%
7.4%RM 4.47RM 3.30n/a20
Nov ’25RM 3.61
RM 3.91
+8.2%
7.3%RM 4.47RM 3.30n/a20
Oct ’25RM 3.93
RM 3.90
-0.6%
7.3%RM 4.47RM 3.30n/a20
Sep ’25RM 3.86
RM 3.89
+0.8%
6.7%RM 4.32RM 3.30n/a20
Aug ’25RM 3.48
RM 4.02
+15.4%
13.6%RM 5.60RM 3.20n/a21
Jul ’25RM 3.58
RM 4.02
+12.2%
13.6%RM 5.60RM 3.20n/a21
Jun ’25RM 3.63
RM 4.02
+10.6%
13.6%RM 5.60RM 3.20n/a21
May ’25RM 3.67
RM 4.06
+10.7%
13.5%RM 5.60RM 3.20n/a20
Apr ’25RM 3.42
RM 4.06
+18.6%
13.1%RM 5.60RM 3.38n/a20
Mar ’25RM 3.68
RM 4.06
+10.3%
13.1%RM 5.60RM 3.38n/a20
Feb ’25RM 3.80
RM 4.09
+7.7%
12.7%RM 5.60RM 3.40n/a20
Jan ’25RM 3.85
RM 4.10
+6.5%
12.9%RM 5.60RM 3.30n/a20
Dec ’24RM 3.96
RM 4.09
+3.4%
12.6%RM 5.60RM 3.30n/a21
Nov ’24RM 4.00
RM 4.09
+2.3%
13.4%RM 5.60RM 3.30RM 3.6121
Oct ’24RM 4.04
RM 4.09
+1.3%
13.4%RM 5.60RM 3.30RM 3.9321
Sep ’24RM 4.05
RM 4.10
+1.3%
13.1%RM 5.60RM 3.30RM 3.8622
Aug ’24RM 4.05
RM 4.13
+2.0%
12.9%RM 5.60RM 3.30RM 3.4822
Jul ’24RM 4.10
RM 4.11
+0.2%
13.0%RM 5.60RM 3.30RM 3.5822
Jun ’24RM 4.20
RM 4.07
-3.0%
13.1%RM 5.60RM 3.30RM 3.6322
May ’24RM 4.40
RM 3.97
-9.9%
11.6%RM 5.60RM 3.30RM 3.6722
Apr ’24RM 4.13
RM 3.95
-4.3%
11.6%RM 5.60RM 3.30RM 3.4222
Mar ’24RM 3.96
RM 3.95
-0.3%
11.8%RM 5.60RM 3.30RM 3.6822
Feb ’24RM 3.96
RM 3.91
-1.3%
12.4%RM 5.60RM 3.30RM 3.8022
Jan ’24RM 3.84
RM 3.91
+1.7%
12.7%RM 5.60RM 3.30RM 3.8521
Dec ’23RM 3.95
RM 3.88
-1.8%
12.2%RM 5.60RM 3.30RM 3.9621
Nov ’23RM 3.78
RM 3.88
+2.6%
11.9%RM 5.60RM 3.30RM 4.0021

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

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