Mega First Corporation Berhad

KLSE:MFCB Stock Report

Market Cap: RM 4.1b

Mega First Corporation Berhad Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: MFCB (MYR4.35) is trading below our estimate of fair value (MYR8.4)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MFCB. This is calculated by dividing MFCB's market cap by their current earnings.
What is MFCB's PE Ratio?
PE Ratio9.3x
EarningsRM 439.48m
Market CapRM 4.10b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MFCB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average25.2x
GASMSIA Gas Malaysia Berhad
12.1x0.3%RM 4.9b
RANHILL Ranhill Utilities Berhad
33.5x3.3%RM 1.8b
TALIWRK Taliworks Corporation Berhad
29.4x19.3%RM 1.5b
ARN Alerion Clean Power
25.9x15.9%€889.8m
MFCB Mega First Corporation Berhad
9.3x-0.3%RM 4.1b

Price-To-Earnings vs Peers: MFCB is good value based on its Price-To-Earnings Ratio (9.3x) compared to the peer average (25.2x).

Price to Earnings Ratio vs Industry

How does MFCB's PE Ratio compare vs other companies in the Asian Renewable Energy Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MFCB 9.3xIndustry Avg. 13.9xNo. of Companies24PE01020304050+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MFCB is good value based on its Price-To-Earnings Ratio (9.3x) compared to the Asian Renewable Energy industry average (13.9x).

Price to Earnings Ratio vs Fair Ratio

What is MFCB'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.

MFCB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.3x
Fair PE Ratio13x

Price-To-Earnings vs Fair Ratio: MFCB is good value based on its Price-To-Earnings Ratio (9.3x) compared to the estimated Fair Price-To-Earnings Ratio (13x).

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 MFCB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 4.35
RM 5.01
+15.2%
6.8%RM 5.40RM 4.50n/a5
Nov ’25RM 4.27
RM 5.01
+17.4%
6.8%RM 5.40RM 4.50n/a5
Oct ’25RM 4.44
RM 5.01
+12.9%
6.8%RM 5.40RM 4.50n/a5
Sep ’25RM 4.40
RM 5.02
+14.0%
7.6%RM 5.40RM 4.50n/a4
Aug ’25RM 4.90
RM 5.02
+2.3%
7.6%RM 5.40RM 4.50n/a4
Jul ’25RM 4.81
RM 5.02
+4.3%
7.6%RM 5.40RM 4.50n/a4
Jun ’25RM 4.77
RM 5.02
+5.1%
7.6%RM 5.40RM 4.50n/a4
May ’25RM 4.67
RM 5.00
+7.0%
7.3%RM 5.40RM 4.50n/a4
Apr ’25RM 4.31
RM 4.73
+9.8%
7.0%RM 5.28RM 4.45n/a4
Mar ’25RM 3.88
RM 4.61
+18.8%
10.0%RM 5.28RM 4.00n/a4
Feb ’25RM 3.91
RM 4.51
+15.3%
10.5%RM 5.28RM 4.00n/a4
Jan ’25RM 3.69
RM 4.51
+22.2%
10.5%RM 5.28RM 4.00n/a4
Dec ’24RM 3.55
RM 4.51
+27.0%
10.5%RM 5.28RM 4.00n/a4
Nov ’24RM 3.45
RM 4.38
+26.8%
6.2%RM 4.75RM 4.00RM 4.274
Oct ’24RM 3.40
RM 4.16
+22.4%
10.1%RM 4.75RM 3.60RM 4.444
Sep ’24RM 3.37
RM 4.16
+23.5%
10.1%RM 4.75RM 3.60RM 4.404
Aug ’24RM 3.27
RM 4.16
+27.3%
10.1%RM 4.75RM 3.60RM 4.904
Jul ’24RM 3.07
RM 4.35
+41.7%
7.1%RM 4.75RM 4.00RM 4.813
Jun ’24RM 3.30
RM 4.35
+31.7%
7.0%RM 4.74RM 4.00RM 4.773
May ’24RM 3.42
RM 4.35
+27.1%
7.0%RM 4.74RM 4.00RM 4.673
Apr ’24RM 3.50
RM 4.35
+24.2%
7.0%RM 4.74RM 4.00RM 4.313
Mar ’24RM 3.64
RM 4.55
+24.9%
4.0%RM 4.74RM 4.30RM 3.883
Feb ’24RM 3.56
RM 4.58
+28.7%
4.3%RM 4.74RM 4.30RM 3.913
Jan ’24RM 3.32
RM 4.58
+38.0%
4.3%RM 4.74RM 4.30RM 3.693
Dec ’23RM 3.38
RM 4.58
+35.5%
4.3%RM 4.74RM 4.30RM 3.553
Nov ’23RM 3.27
RM 4.58
+40.1%
4.3%RM 4.74RM 4.30RM 3.453

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

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