Malaysia Airports Holdings Berhad

KLSE:AIRPORT Stock Report

Market Cap: RM 18.2b

Malaysia Airports Holdings Berhad Valuation

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

Discounted Cash Flow
Simply Wall St
RM 6.56
Fair Value
66.5% overvalued intrinsic discount
13
Number of Analysts

Below Fair Value: AIRPORT (MYR10.92) is trading above our estimate of fair value (MYR6.56)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for AIRPORT. This is calculated by dividing AIRPORT's market cap by their current earnings.
What is AIRPORT's PE Ratio?
PE Ratio21.8x
EarningsRM 836.19m
Market CapRM 18.22b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for AIRPORT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.9x
WPRTS Westports Holdings Berhad
17.6x8.4%RM 15.8b
MISC MISC Berhad
14.2x9.2%RM 32.1b
FLU Flughafen Wien
22.5x3.8%€4.4b
BIPORT Bintulu Port Holdings Berhad
17.4x2.2%RM 2.8b
AIRPORT Malaysia Airports Holdings Berhad
21.8x14.7%RM 18.2b

Price-To-Earnings vs Peers: AIRPORT is expensive based on its Price-To-Earnings Ratio (21.8x) compared to the peer average (17.9x).

Price to Earnings Ratio vs Industry

How does AIRPORT's PE Ratio compare vs other companies in the Asian Infrastructure Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
AIRPORT 21.8xIndustry Avg. 14.3xNo. of Companies18PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AIRPORT is expensive based on its Price-To-Earnings Ratio (21.8x) compared to the Asian Infrastructure industry average (14.3x).

Price to Earnings Ratio vs Fair Ratio

What is AIRPORT'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.

AIRPORT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.8x
Fair PE Ratio16.2x

Price-To-Earnings vs Fair Ratio: AIRPORT is expensive based on its Price-To-Earnings Ratio (21.8x) compared to the estimated Fair Price-To-Earnings Ratio (16.2x).

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 AIRPORT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 10.92
RM 10.84
-0.7%
4.6%RM 11.40RM 9.32n/a13
Jan ’26RM 10.58
RM 10.84
+2.4%
4.5%RM 11.40RM 9.32n/a14
Dec ’25RM 10.60
RM 10.84
+2.2%
4.5%RM 11.40RM 9.32n/a14
Nov ’25RM 10.46
RM 10.85
+3.7%
4.3%RM 11.40RM 9.32n/a15
Oct ’25RM 10.40
RM 10.85
+4.3%
4.3%RM 11.40RM 9.32n/a15
Sep ’25RM 10.50
RM 10.62
+1.1%
6.5%RM 11.40RM 9.10n/a15
Aug ’25RM 10.22
RM 10.62
+3.9%
6.5%RM 11.40RM 9.10n/a15
Jul ’25RM 9.86
RM 10.62
+7.7%
6.5%RM 11.40RM 9.10n/a15
Jun ’25RM 9.94
RM 10.62
+6.8%
6.5%RM 11.40RM 9.10n/a15
May ’25RM 10.00
RM 9.88
-1.2%
9.7%RM 11.30RM 8.31n/a15
Apr ’25RM 9.76
RM 9.82
+0.6%
9.8%RM 11.30RM 8.31n/a16
Mar ’25RM 8.49
RM 8.80
+3.7%
10.7%RM 11.30RM 7.00n/a17
Feb ’25RM 7.69
RM 8.38
+9.0%
10.9%RM 11.30RM 7.00n/a17
Jan ’25RM 7.36
RM 8.34
+13.4%
12.5%RM 12.00RM 7.00RM 10.5817
Dec ’24RM 7.11
RM 8.22
+15.5%
13.6%RM 12.00RM 7.00RM 10.6016
Nov ’24RM 7.30
RM 8.10
+11.0%
14.3%RM 12.00RM 6.60RM 10.4616
Oct ’24RM 7.13
RM 8.07
+13.2%
14.0%RM 12.00RM 6.60RM 10.4017
Sep ’24RM 7.70
RM 7.97
+3.5%
13.9%RM 12.00RM 6.60RM 10.5018
Aug ’24RM 6.90
RM 7.66
+11.0%
6.8%RM 8.50RM 6.80RM 10.2218
Jul ’24RM 6.88
RM 7.66
+11.3%
6.8%RM 8.50RM 6.80RM 9.8618
Jun ’24RM 6.93
RM 7.64
+10.2%
6.8%RM 8.50RM 6.80RM 9.9418
May ’24RM 7.05
RM 7.55
+7.1%
6.9%RM 8.50RM 6.60RM 10.0018
Apr ’24RM 6.79
RM 7.42
+9.3%
5.6%RM 8.00RM 6.60RM 9.7618
Mar ’24RM 6.90
RM 7.43
+7.7%
5.6%RM 8.00RM 6.60RM 8.4918
Feb ’24RM 7.06
RM 7.23
+2.4%
7.3%RM 7.86RM 5.70RM 7.6918
Jan ’24RM 6.56
RM 7.12
+8.6%
8.1%RM 7.86RM 5.70RM 7.3618
Analyst Price Target
Consensus Narrative from 13 Analysts
RM 10.84
Fair Value
0.7% overvalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/30 22:26
End of Day Share Price 2025/01/28 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

Malaysia Airports Holdings Berhad is covered by 32 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kee TanAlliance Research Sdn. Bhd.
Jonathan WindhamBarclays
YingYing HouBofA Global Research