Berli Jucker PCL (BJC) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Berli Jucker PCL stock THB 19.86, price THB 20.00, that is 0.7% below the price, quality 48 out of 100. Rating: fairly valued. Calculated from audited financials with 11 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 12.83 THB – 36.19 THB · fair‑value band 15.76 THB – 26.27 THB · the 20.00 THB price screens above the 19.86 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Berli Jucker Public Company Limited manufactures, distributes, and services for packaging, consumer, healthcare and technical, and modern retail supply chain businesses in Thailand. It designs, manufactures, markets, and distributes glass, aluminum cans, and plastic packaging products.
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The company also provides Cellox facial tissues and toilet paper, Zilk toilet papers, Maxmo multi-purpose papers, Tasto potato chips, Dozo rice crackers, Party and Campus extruded snacks, Parrot soaps, and Dermapon baby soaps; and logistics services.
It distributes pharmaceutical and healthcare products, medical imaging, and medical equipment and supplies; solutions for graphic, stationery, and specialty products; and industrial chemical ingredients, engineering products and systems, galvanized steel structures, and digital printing technology.
The company also operates network of multiple physical and online store; and wholesale business serving B2B customer, bookstore, coffee shop, and drug store businesses.
It provides food supplements and cosmetics; offers customs clearing, warehousing, transportation, and distribution services; manufactures snack food and dairy products; operates a non-alcohol beverage shop; sells imaging products, construction supplies, and animal feeds; and provides confectionery, sanitary paper, tofu, soymilk, and kimchi products.
The company also offers agent and investment services; rental spaces; seminar and training center; consultant services for product analysis and data collection; land transport and freight services; solar and wind power, real estate, bill payment, information, franchise, and e-commerce services; distributor of security equipment and service maintenance; and real estate consulting and merchandise sourcing services, as well as invests in energy business; trades in equipment for power systems; and retails books and magazines.
Berli Jucker Public Company Limited was founded in 1882 and is based in Bangkok, Thailand.
Stock analysis
Berli Jucker PCL (BJC) currently trades at 20.00 THB, while our model-based Fair Value estimate is 19.86 THB, so the stock looks roughly fairly valued today (gap 0.7%).
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Valuation
Bull case: the Multiples group reads highest at a median of 21.02 THB per share, and 3 of the 11 models we run sit above the 20.00 THB price.
Bear case: the DCF Models group reads lowest at 6.98 THB, and 8 of the 11 models stay below the price. Data coverage for this calculation is low.
Scenario range: 15.76 THB (bear) to 26.27 THB (bull), the price of 20.00 THB sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Industrials sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Berli Jucker PCL reported revenue of 154B THB in FY2025 versus 138B THB in FY2021, a compound +2.7%/yr. Reported net income was 4.0B THB in FY2025, compounding +2.8%/yr from FY2021.
Key figures
Market cap 80.2B THB (≈ $2.4B) Mid · P/E ratio 13.7 · P/S ratio 0.51 · EPS (TTM) 1.46 THB · Dividend yield 2.7% · Net margin 3.7% · Return on equity 5.5% · Return on assets (EBIT) 2.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 36 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 56% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 8% fair-value upside, at −1%, BJC screens richer than that median.
Fair Value models
Bear15.76 THBFair Value 19.86 THBBull26.27 THB
Price 20.00 THB · Downside -0.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.7975 THB per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−2.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.3%
Start year 2020 (pandemic). Over 10 years: +13.6% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.3%
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What shareholders gained per year (last 5 years), in THB ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+2.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.0%
Dividend (yield on the price)2.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.0.0% vs −4.2%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.7% → −1%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+20.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +18.6% a year for the price and +3.2% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Conglomerates · 304 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−0.7% · Below median
Profitability
Return on equity (12 months)5.5% · Below median
Return on assets1.2% · Below median
Net margin (12 months)3.7% · Below median
Operating margin (12 months)11.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)2.6% · Below median
Dividend yield (12 months)2.7% · Above median
Balance sheet
Debt / equity0.90× · Highest 25%
Valuation Multiplesvs Conglomerates median · lower = cheaper
P/E (12 months)13.7× · Cheaper than median
P/B0.67× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)0.51× · Cheaper than median
Price / free cash flow (fiscal year)12.1× · Cheaper than median
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Is Berli Jucker PCL (BJC) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 19.86 THB versus a price of 20.00 THB, about 1% lower (fairly valued).
What is the fair value of BJC?
Our model-based fair value for Berli Jucker PCL is 19.86 THB (as of Nov 7, 2026), built from audited fundamentals. The current price: 20.00 THB.
What is the quality score of BJC?
Berli Jucker PCL has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Berli Jucker PCL (BJC)?
Our model-based price target is the fair value of 19.86 THB (as of Nov 7, 2026) from 11 valuation models. Cautious scenario 15.76 THB, optimistic scenario 26.27 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Berli Jucker PCL stock forecast for 2026?
Our models put fair value at 19.86 THB, about 1% lower versus a price of 20.00 THB (fairly valued). Cautious scenario 15.76 THB, optimistic scenario 26.27 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Berli Jucker PCL (BJC)?
Berli Jucker PCL reported trailing-twelve-month revenue of about 158B THB (latest available figure, as of Nov 7, 2026).
Does Berli Jucker PCL pay a dividend?
Berli Jucker PCL currently shows a dividend yield of 2.65% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Berli Jucker PCL (BJC) and when is the ex-dividend date?
Berli Jucker PCL pays a dividend of 0.53 THB per share a year, a dividend yield of 2.7%. The last ex-dividend date was Aug 27, 2026. A dividend has been paid every year since at least 1994. The payout ratio is 36.3% of earnings. Free cash flow covers the dividend 3.12 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Berli Jucker PCL (BJC)?
For today's price to be fair in a discounted-cash-flow model, Berli Jucker PCL would have to grow free cash flow by +20.0 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.3 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of BJC use?
Our models discount Berli Jucker PCL at 10.1 %: a base by market capitalisation (mid), damped by beta 0.16, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Berli Jucker PCL that is +20.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Berli Jucker PCL (BJC) delivered so far?
Over the past 5 years revenue at Berli Jucker PCL grew +1.3 % a year. The price currently implies free-cash-flow growth of +20.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Berli Jucker PCL (BJC) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Berli Jucker PCL (+20.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Berli Jucker PCL (BJC)?
The free-cash-flow yield on the price is 8.27 %: that much free cash flow Berli Jucker PCL produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Berli Jucker PCL (BJC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Berli Jucker PCL it is 19.86 THB per share (as of Nov 7, 2026), against a price of 20.00 THB. It is the blended result of 11 valuation models in 6 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit).
Is Berli Jucker PCL stock overvalued or undervalued in 2026?
As of Nov 7, 2026, BJC trades above its calculated fair value: price 20.00 THB, fair value 19.86 THB, a gap of about −1% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BJC?
No. The price is what the market pays today (20.00 THB); the fair value is what the company's own numbers justify (19.86 THB). For Berli Jucker PCL the two are 0.1400 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Berli Jucker PCL worth?
The market values Berli Jucker PCL at about 80.2B THB (market capitalisation, as of Nov 7, 2026). Per share that is 20.00 THB; our models calculate a fair value of 19.86 THB per share.
What do the bullish and bearish scenarios say about BJC?
Our models span a range for Berli Jucker PCL: cautious scenario 15.76 THB, base 19.86 THB, optimistic 26.27 THB per share (as of Nov 7, 2026, price 20.00 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BJC?
Berli Jucker PCL trades at a price-to-earnings ratio of 13.7 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 19.86 THB is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 29.4. Other multiples: PEG 1.5, P/B 0.7, P/S 0.5, EV/EBITDA 9.1.
What is the PEG ratio of BJC?
The PEG ratio of Berli Jucker PCL is 1.47 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Berli Jucker PCL (BJC)?
Balance-sheet figures for Berli Jucker PCL (as of Nov 7, 2026): return on equity 5.5%, debt of 0.90 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is BJC from its 52-week high?
Berli Jucker PCL trades at 20.00 THB, about 1% below its 52-week high of 20.20 THB and 56% above the low of 12.83 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 19.86 THB is for.
Which stocks are comparable to Berli Jucker PCL?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, Swire Pacific Limited, SGH Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Berli Jucker PCL stock attractive at the current price?
The data as of Nov 7, 2026: price 20.00 THB, calculated fair value 19.86 THB (−1%), Quality Score 48/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BJC calculated?
We run Berli Jucker PCL through 11 models from 6 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 19.86 THB builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Berli Jucker PCL itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Berli Jucker PCL (BJC)?
The closing price on Nov 6, 2026 was 20.00 THB. Our model-based fair value is 19.86 THB, about 1% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Berli Jucker PCL right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Berli Jucker PCL (BJC) come from?
Earnings per share at Berli Jucker PCL grew −2.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.2 %, EBIT margin −0.3 %, tax rate −0.6 %, residual (interest, one-offs) −3.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Berli Jucker PCL
How large is the market capitalisation of Berli Jucker PCL (BJC)?
The market capitalisation of Berli Jucker PCL is 80.2B THB (≈ $2.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Berli Jucker PCL (BJC)?
The price-to-sales ratio of Berli Jucker PCL is 0.51 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Berli Jucker PCL (BJC)?
Earnings per share at Berli Jucker PCL are 1.46 THB (price ÷ EPS = P/E 13.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Berli Jucker PCL (BJC)?
The dividend yield of Berli Jucker PCL is 2.7% (payout 36.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Berli Jucker PCL (BJC)?
The net margin of Berli Jucker PCL is 3.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Berli Jucker PCL (BJC)?
The return on equity (ROE) of Berli Jucker PCL is 5.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Berli Jucker PCL (BJC)?
On an EBIT basis the return on assets of Berli Jucker PCL is 2.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Berli Jucker PCL (BJC)?
The operating margin of Berli Jucker PCL is 11.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Berli Jucker PCL (BJC)?
Revenue at Berli Jucker PCL is growing +2.6% versus a year earlier (3y avg +0.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Berli Jucker PCL (BJC)?
Earnings per share at Berli Jucker PCL are growing +188% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Berli Jucker PCL (BJC) carry?
The net debt of Berli Jucker PCL is 173B THB (fiscal year 2025, ≈ 26.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 7, 2026