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Using a proper DCF, I get RM0.21/share for GFM.
That supports the earlier rough fair value, but with more discipline: GFM is mildly undervalued at RM0.170, not a screaming bargain.
My stance:
Hold / selective accumulate below RM0.17.
Do not chase above RM0.20 unless the next quarter confirms stronger cash flow.
Reassess near RM0.24 unless FY2026 earnings momentum clearly upgrades the model.
If you want the clean trading version: RM0.16 entry, RM0.15 invalidation, RM0.21 first fair-value target, RM0.24–0.28 profit-taking zone.
np q1 6.08m q2 7.35m, avg of 6.71m, conservative estimates fwd np 26.86m FY26 -> fwd pe 6, if valuation catches up to fwd pe of 10, then price expected to reach 0.355 at the very least
With net profit rising steadily and a forward PE of 6, GFM is looking like a solid bargain that could easily hit 0.355 once the market catches up to its true value.