Eason & Co Public Company Limited (EASON) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Eason & Co Public Company Limited stock THB 1.58, price THB 1.18, upside +33.7%, quality 76 out of 100. Rating: undervalued. Calculated from audited financials with 24 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 3, 2026.
How to read this chart
60‑month range 0.8237 THB – 1.55 THB · fair‑value band 1.22 THB – 1.89 THB · the 1.18 THB price screens below the 1.58 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Eason & Co Public Company Limited manufactures and sells industrial and automotive paints primarily in Thailand. It operates through three segments: Automotive Paints, Other Industrial Paints, and Other.
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The company offers packaging coatings for interior and exterior application to crown caps, ROPP, screw caps, lug caps, and other closures. It also provides offset inks, including metal decorating inks for 2-piece cans, and conventional and UV metal decorating inks for 3-piece cans.
In addition, the company offers motorcycle coatings, such as poly urethane, acrylic, and air-dry paints. Further, it manufactures, sells, Imports, and exports beverages.
The company was formerly known as Eason Paint Public Company Limited and changed its name to Eason & Co Public Company Limited in May 2020. The company was incorporated in 1965 and is headquartered in Chonburi, Thailand.
Stock analysis
Eason & Co Public Company Limited (EASON) currently trades at 1.18 THB, while our model-based Fair Value estimate is 1.58 THB, implying the stock looks roughly 25% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2.48 THB per share, and 19 of the 24 models we run sit above the 1.18 THB price.
Bear case: the Asset-Based group reads lowest at 0.7200 THB, and 5 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 1.22 THB (bear) to 1.89 THB (bull), the price of 1.18 THB sits below 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 76/100 (high quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Eason & Co Public Company Limited reported revenue of 716M THB in FY2025 versus 534M THB in FY2021, a compound +7.6%/yr. Reported net income was 91.7M THB in FY2025.
Key figures
Market cap 634M THB (≈ $19.0M) Micro · P/E ratio 6.2 · P/S ratio 0.82 · EPS (TTM) 0.1900 THB · Dividend yield 6.8% · Net margin 13.6% · Return on equity 11.9% · Return on assets (EBIT) 4.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at 34%, EASON screens cheaper than that median.
Fair Value models
Bear1.22 THBFair Value 1.58 THBBull1.89 THB
Price 1.18 THB · Upside +33.7%
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 (0.0943 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.
Best data coverage
FCF DCF2.22 THB2.70 THB3.41 THB82
Growth DCF2.26 THB2.71 THB3.33 THB80
Owner Earnings2.17 THB2.63 THB3.32 THB78
All 24 models by family
DCF Models
FCF DCF2.22 THB2.70 THB3.41 THB82
Owner Earnings2.17 THB2.63 THB3.32 THB78
5Y Revenue Exit1.66 THB2.02 THB2.50 THB74
5Y EBITDA Exit1.78 THB2.22 THB2.76 THB77
5Y P/E Exit2.29 THB3.09 THB3.98 THB72
10Y Revenue Exit1.88 THB2.21 THB2.58 THB68
10Y EBITDA Exit1.96 THB2.33 THB2.73 THB70
10Y P/E Exit2.24 THB2.85 THB3.47 THB65
Earnings-Based
Graham-Dodd1.16 THB2.16 THB2.67 THB66
EPV0.9700 THB1.04 THB1.09 THB74
Dividend Discount
Gordon GGM0.5900 THB0.7400 THB0.8800 THB69
DDM Multi-Stage0.5900 THB0.7600 THB0.9300 THB67
Multiples
P/E Multiple2.18 THB2.90 THB3.63 THB63
P/S Multiple1.50 THB2.00 THB2.50 THB58
P/B Multiple1.01 THB1.34 THB1.68 THB55
EV/EBIT1.40 THB1.72 THB2.04 THB66
EV/EBITDA1.57 THB1.94 THB2.32 THB67
EV/Revenue1.27 THB1.63 THB1.99 THB54
Asset-Based
NCAV (Graham)0.4800 THB0.7200 THB0.9100 THB54
Growth DCF
Growth DCF2.26 THB2.71 THB3.33 THB80
Rev-Margin DCF1.66 THB2.06 THB2.55 THB74
Economic Profit
Residual Income1.40 THB1.52 THB1.70 THB76
ROIC Compounder0.9700 THB1.04 THB1.09 THB72
Growth Earnings
Growth-Adj P/E1.56 THB2.23 THB2.90 THB67
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−9.5%
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.
+0.6%
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.
+7.9%
Start year 2020 (pandemic). Over 10 years: +4.4% a year
Revenue growth 21 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.
+0.9%
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What shareholders gained per year (last 3 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 3 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. Basis: EBIT basis. 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.
−4.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−11.1%
Dividend (yield on the price)6.8%
Profit margin 2019 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.−2% → 7%
⚠ Revenue per share shrinking 1.4%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−19.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about −20.1% a year for the price.
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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.Specialty Chemicals · 728 stocks
Beats the industry median on 14/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside+33.7% · Top 25%
Profitability
Return on equity (12 months)11.9% · Above median
Return on assets8.0% · Top 25%
Net margin (12 months)13.6% · Top 25%
Operating margin (12 months)12.9% · Above median
Growth and dividend
Revenue growth (quarter YoY)24.2% · Above median
Dividend yield (12 months)6.8% · Top 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Eason & Co Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/EASON
Frequently asked questions
Is Eason & Co Public Company Limited (EASON) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 1.58 THB versus a price of 1.18 THB, about +34% upside (undervalued).
What is the fair value of EASON?
Our model-based fair value for Eason & Co Public Company Limited is 1.58 THB (as of Nov 3, 2026), built from audited fundamentals. The current price: 1.18 THB.
What is the quality score of EASON?
Eason & Co Public Company Limited has a Quality Score of 76/100. 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 Eason & Co Public Company Limited (EASON)?
Our model-based price target is the fair value of 1.58 THB (as of Nov 3, 2026) from 24 valuation models. Cautious scenario 1.22 THB, optimistic scenario 1.89 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Eason & Co Public Company Limited stock forecast for 2026?
Our models put fair value at 1.58 THB, about +34% upside versus a price of 1.18 THB (undervalued). Cautious scenario 1.22 THB, optimistic scenario 1.89 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Eason & Co Public Company Limited (EASON)?
Eason & Co Public Company Limited reported trailing-twelve-month revenue of about 771M THB (latest available figure, as of Nov 3, 2026).
Does Eason & Co Public Company Limited pay a dividend?
Eason & Co Public Company Limited currently shows a dividend yield of 6.78% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Eason & Co Public Company Limited (EASON) and when is the ex-dividend date?
Eason & Co Public Company Limited pays a dividend of 0.08 THB per share a year, a dividend yield of 6.8%. The last ex-dividend date was Apr 29, 2026. A dividend has been paid every year since 2022. The payout ratio is 42.1% of earnings. Free cash flow covers the dividend 2.70 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 Eason & Co Public Company Limited (EASON)?
For today's price to be fair in a discounted-cash-flow model, Eason & Co Public Company Limited would have to grow free cash flow by -19.2 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.9 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of EASON use?
Our models discount Eason & Co Public Company Limited at 11.6 %: a base by market capitalisation (nano), 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 Eason & Co Public Company Limited that is -19.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Eason & Co Public Company Limited (EASON) delivered so far?
Over the past 5 years revenue at Eason & Co Public Company Limited grew +7.9 % a year. The price currently implies free-cash-flow growth of -19.2 % 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 Eason & Co Public Company Limited (EASON) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Eason & Co Public Company Limited (-19.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Eason & Co Public Company Limited (EASON)?
The free-cash-flow yield on the price is 18.30 %: that much free cash flow Eason & Co Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Eason & Co Public Company Limited (EASON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Eason & Co Public Company Limited it is 1.58 THB per share (as of Nov 3, 2026), against a price of 1.18 THB. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Eason & Co Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 3, 2026, EASON trades below its calculated fair value: price 1.18 THB, fair value 1.58 THB, a gap of about +34% (undervalued). 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 EASON?
No. The price is what the market pays today (1.18 THB); the fair value is what the company's own numbers justify (1.58 THB). For Eason & Co Public Company Limited the two are 0.3982 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Eason & Co Public Company Limited worth?
The market values Eason & Co Public Company Limited at about 634M THB (market capitalisation, as of Nov 3, 2026). Per share that is 1.18 THB; our models calculate a fair value of 1.58 THB per share.
What do the bullish and bearish scenarios say about EASON?
Our models span a range for Eason & Co Public Company Limited: cautious scenario 1.22 THB, base 1.58 THB, optimistic 1.89 THB per share (as of Nov 3, 2026, price 1.18 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EASON?
Eason & Co Public Company Limited trades at a price-to-earnings ratio of 6.2 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.58 THB is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2016 to 2025), reported earnings: 11.4. Other multiples: P/B 0.7, P/S 0.8, EV/EBITDA 3.7.
How solid is the balance sheet of Eason & Co Public Company Limited (EASON)?
Balance-sheet figures for Eason & Co Public Company Limited (as of Nov 3, 2026): return on equity 11.9%, debt of 0.01 per unit of equity. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is EASON from its 52-week high?
Eason & Co Public Company Limited trades at 1.18 THB, about 6% below its 52-week high of 1.26 THB and 22% above the low of 0.9683 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1.58 THB is for.
Which stocks are comparable to Eason & Co Public Company Limited?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, 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 Eason & Co Public Company Limited stock attractive at the current price?
The data as of Nov 3, 2026: price 1.18 THB, calculated fair value 1.58 THB (+34%), Quality Score 76/100, from 24 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 EASON calculated?
We run Eason & Co Public Company Limited through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 1.58 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. Eason & Co Public Company Limited currently trades 25% below its own fair value, and the market average says nothing about that. 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 Eason & Co Public Company Limited (EASON)?
The closing price on Nov 6, 2026 was 1.18 THB. Our model-based fair value is 1.58 THB, about +34% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Eason & Co Public Company Limited right now?
The rarer combination: high quality (76/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (1.22 THB). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of Eason & Co Public Company Limited (EASON) come from?
Earnings per share at Eason & Co Public Company Limited grew −3.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.7 %, EBIT margin −6.5 %, tax rate −0.4 %, residual (interest, one-offs) +4.5 %. 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 Eason & Co Public Company Limited
How large is the market capitalisation of Eason & Co Public Company Limited (EASON)?
The market capitalisation of Eason & Co Public Company Limited is 634M THB (≈ $19.0M). 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 Eason & Co Public Company Limited (EASON)?
The price-to-sales ratio of Eason & Co Public Company Limited is 0.82 (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 Eason & Co Public Company Limited (EASON)?
Earnings per share at Eason & Co Public Company Limited are 0.1900 THB (price ÷ EPS = P/E 6.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Eason & Co Public Company Limited (EASON)?
The dividend yield of Eason & Co Public Company Limited is 6.8% (payout 42.1%). 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 Eason & Co Public Company Limited (EASON)?
The net margin of Eason & Co Public Company Limited is 13.6% (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 Eason & Co Public Company Limited (EASON)?
The return on equity (ROE) of Eason & Co Public Company Limited is 11.9% (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 Eason & Co Public Company Limited (EASON)?
On an EBIT basis the return on assets of Eason & Co Public Company Limited is 4.6% (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 Eason & Co Public Company Limited (EASON)?
The operating margin of Eason & Co Public Company Limited is 12.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Eason & Co Public Company Limited (EASON)?
Revenue at Eason & Co Public Company Limited is growing +24.2% versus a year earlier (3y avg +0.6%). 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 Eason & Co Public Company Limited (EASON)?
Earnings per share at Eason & Co Public Company Limited are growing +81.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Eason & Co Public Company Limited (EASON) hold?
Eason & Co Public Company Limited holds more cash than debt, 237M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 3, 2026