TASCO Berhad Valuation

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

TASCO (MYR0.72) is trading below our estimate of [[fair value]] (MYR0.96)

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

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: TASCO (MYR0.72) is trading below our estimate of fair value (MYR0.96)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TASCO. This is calculated by dividing TASCO's market cap by their current earnings.
What is TASCO's PE Ratio?
PE Ratio	12.2x
Earnings	RM 46.81m
Market Cap	RM 572.00m

TASCO 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	0.8x
Enterprise Value/EBITDA	9x
PEG Ratio	0.6x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TASCO 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	21.3x
SWIFT Swift Haulage Berhad	8x	1.8%	RM 391.5m
TNLOGIS Tiong Nam Logistics Holdings Berhad	6.1x	n/a	RM 365.0m
AGX AGX Group Berhad	26.1x	n/a	RM 255.4m
CJCEN CJ Century Logistics Holdings Berhad	45x	n/a	RM 136.7m
TASCO TASCO Berhad	12.2x	19.4%	RM 572.0m

Price-To-Earnings vs Peers: TASCO is good value based on its Price-To-Earnings Ratio (12.2x) compared to the peer average (21.3x).

Price to Earnings Ratio vs Industry

How does TASCO's PE Ratio compare vs other companies in the Asian Logistics Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: TASCO is good value based on its Price-To-Earnings Ratio (12.2x) compared to the Asian Logistics industry average (17.4x).

Price to Earnings Ratio vs Fair Ratio

What is TASCO'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.

TASCO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.2x
Fair PE Ratio	12.4x

Price-To-Earnings vs Fair Ratio: TASCO is good value based on its Price-To-Earnings Ratio (12.2x) compared to the estimated Fair Price-To-Earnings Ratio (12.4x).

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 TASCO 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 0.71	RM 1.04 +45.1%	4.7%	RM 1.12	RM 1.00	n/a	4
Nov ’25	RM 0.72	RM 1.11 +53.5%	6.4%	RM 1.20	RM 1.00	n/a	4
Oct ’25	RM 0.79	RM 1.11 +41.7%	6.6%	RM 1.20	RM 1.00	n/a	4
Sep ’25	RM 0.80	RM 1.11 +39.9%	6.6%	RM 1.20	RM 1.00	n/a	4
Aug ’25	RM 0.87	RM 1.18 +35.9%	11.5%	RM 1.38	RM 1.00	n/a	4
Jul ’25	RM 0.95	RM 1.21 +27.0%	8.3%	RM 1.38	RM 1.12	n/a	4
Jun ’25	RM 0.86	RM 1.21 +41.0%	8.3%	RM 1.38	RM 1.12	n/a	4
May ’25	RM 0.83	RM 1.25 +49.4%	8.0%	RM 1.38	RM 1.12	n/a	4
Apr ’25	RM 0.81	RM 1.25 +53.1%	8.0%	RM 1.38	RM 1.12	n/a	4
Mar ’25	RM 0.83	RM 1.25 +50.3%	8.0%	RM 1.38	RM 1.12	n/a	4
Feb ’25	RM 0.82	RM 1.29 +57.0%	7.8%	RM 1.38	RM 1.12	n/a	4
Jan ’25	RM 0.77	RM 1.34 +74.5%	8.9%	RM 1.51	RM 1.18	n/a	4
Dec ’24	RM 0.79	RM 1.34 +69.0%	8.9%	RM 1.51	RM 1.18	n/a	4
Nov ’24	RM 0.80	RM 1.40 +75.3%	17.0%	RM 1.60	RM 1.00	RM 0.72	4
Oct ’24	RM 0.80	RM 1.47 +83.1%	18.7%	RM 1.70	RM 1.00	RM 0.79	4
Sep ’24	RM 0.80	RM 1.47 +83.1%	18.7%	RM 1.70	RM 1.00	RM 0.80	4
Aug ’24	RM 0.80	RM 1.53 +91.6%	21.3%	RM 1.87	RM 1.00	RM 0.87	4
Jul ’24	RM 0.83	RM 1.57 +88.6%	22.2%	RM 1.87	RM 1.00	RM 0.95	4
Jun ’24	RM 0.84	RM 1.57 +86.3%	22.2%	RM 1.87	RM 1.00	RM 0.86	4
May ’24	RM 0.90	RM 1.56 +74.3%	22.3%	RM 1.87	RM 1.00	RM 0.83	4
Apr ’24	RM 0.84	RM 1.55 +82.8%	25.2%	RM 1.87	RM 0.91	RM 0.81	4
Mar ’24	RM 0.90	RM 1.55 +71.7%	25.2%	RM 1.87	RM 0.91	RM 0.83	4
Feb ’24	RM 0.93	RM 1.35 +46.2%	29.5%	RM 1.75	RM 0.91	RM 0.82	4
Jan ’24	RM 0.90	RM 1.35 +50.3%	29.5%	RM 1.75	RM 0.91	RM 0.77	4
Dec ’23	RM 0.91	RM 1.35 +48.6%	29.5%	RM 1.75	RM 0.91	RM 0.79	4
Nov ’23	RM 0.86	RM 1.35 +56.4%	30.2%	RM 1.75	RM 0.91	RM 0.80	4

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.