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Kasikornbank Public Company Limited (KBANK) fair value: what the stock is really worth

As of Nov 5, 2026: fair value (intrinsic value) of Kasikornbank Public Company Limited stock THB 220, price THB 247, that is 11.0% below the price, quality 67 out of 100. Rating: overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services TH · ISIN TH0016010009

KP Kasikornbank Public Company Limited logo Broad data Nov 3, 2026

Kasikornbank Public Company Limited

KBANK · BK
Solid, but expensive

Our calculation puts a fair price 11% below what the stock costs today.

Quality 67/100
Highly profitable · 33.0% net margin (TTM)
4.0% dividend yield · Low payout
Ranks above peers (10/15)
Broad data
Mixed Growth (revenue 5y +6.0 %/yr in THB)
Wide moat 66/100 · thin data
Fair value 219.77 THB · Overvalued (−11.0%)

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

258.00 THB 82.96 THB Fair Value 219.77 THB May 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

60‑month range 82.96 THB – 258.00 THB · fair‑value band 170.88 THB – 284.79 THB · the 247.00 THB price screens above the 219.77 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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Company profile

Kasikornbank Public Company Limited, together with its subsidiaries, provides commercial banking products and services in Thailand and internationally.

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The company operates through four segments: Corporate Business; Retail Business; Treasury and Investment, Capital Markets Business and World Business Group; and Muang Thai Group Holding Business.

It offers e-savings, savings, fixed deposit, current, and foreign currency deposit accounts; debit and credit cards, as well as Xpress cash; personal, home, and auto loans, as well as property for sale; mutual funds, stocks, debentures/bonds, and derivatives/futures exchange; accident, health, critical illness, travel, savings, retirement and endowment, life insurance and inheritance, car, insurance for tax deduction, and other insurance products; digital banking and e-wallet; bill payment, money and global money transfers, and PromptPay; cash management, including cheques and drafts, as well as foreign exchange; alert services; and other financial services.

The company also provides working capital, commercial loan, and letter of indemnity; international trade finance, international guarantee, and green solutions; payment, collection, liquidity management, and online merchant solutions; electronic payment application; e-tax invoice and receipt; import and export service solutions; various channels in overseas; corporate finance, securities, and investment; business accounts and cards; life, non-life, and group insurance; electronic service solution; fx and derivatives; and other related services.

In addition, it engages in funding; centralized risk management; liquid assets investments; financial instruments; and foreign currency exchange, as well as brokerage business.

The company was formerly known as Thai Farmers Bank Public Company Limited and changed its name to Kasikornbank Public Company Limited in April 2003. Kasikornbank Public Company Limited was founded in 1945 and is headquartered in Bangkok, Thailand.

Stock analysis

Kasikornbank Public Company Limited (KBANK) currently trades at 247.00 THB, while our model-based Fair Value estimate is 219.77 THB, 11% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Economic Profit group reads highest at a median of 219.77 THB per share, and 1 of the 6 models we run sit above the 247.00 THB price.

Bear case: the Asset-Based group reads lowest at 155.43 THB, and 5 of the 6 models stay below the price. Data coverage for this calculation is high.

Scenario range: 170.88 THB (bear) to 284.79 THB (bull), the price of 247.00 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 67/100 (solid quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Kasikornbank Public Company Limited reported revenue of 231B THB in FY2025 versus 179B THB in FY2021, a compound +6.6%/yr. Reported net income was 49.6B THB in FY2025, compounding +6.8%/yr from FY2021.

Key figures

Market cap 581B THB (≈ $17.3B) Large · P/E ratio 11.6 · P/S ratio 3.77 · EPS (TTM) 21.21 THB · Dividend yield 4.0% · Net margin 33.0% · Return on equity 8.5% · Return on assets (EBIT) 1.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 66 out of 100 (low confidence).

What moves the price

The share trades about 4% below its 52-week high and 39% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at −11%, KBANK screens cheaper than that median.

Fair Value models

Bear 170.88 THB Fair Value 219.77 THB Bull 284.79 THB
Price 247.00 THB · Downside -11.0%
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 (9.52 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
Residual Income 204.43 THB 219.77 THB 246.16 THB 76
Gordon GGM 108.03 THB 212.16 THB 316.51 THB 67
DDM Multi-Stage 108.03 THB 166.65 THB 224.37 THB 66
All 6 models by family
Dividend Discount
Gordon GGM 108.03 THB 212.16 THB 316.51 THB 67
DDM Multi-Stage 108.03 THB 166.65 THB 224.37 THB 66
Multiples
P/E Multiple 203.96 THB 271.95 THB 339.94 THB 63
P/B Multiple 137.79 THB 183.71 THB 229.64 THB 55
Asset-Based
NCAV (Graham) 115.99 THB 155.43 THB 231.98 THB 54
Economic Profit
Residual Income 204.43 THB 219.77 THB 246.16 THB 76

Open the full fair value analysis →

Quality Score breakdown

Overall quality 67/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 32
How much profit the company makes from its sales and capital
Quality Growth 55
Are margins and returns getting better?
Cashflow 100
Do the profits arrive as real cash?
Financial strength 28
Debt, balance sheet and risk of trouble
Investment 88
Does it invest with discipline instead of growing at any price?
Low Volatility 94
How calm the share price moves, does not count
Price momentum 66
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 85
Distance to the 52-week high, does not count
New shares 86
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.3%
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.
+6.4%
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.
+6.0%
Start year 2020 (pandemic). Over 10 years: +2.7% 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.
+6.5%
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.
+9.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.5%
Dividend (yield on the price)4.0%
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.5.5% vs 2.2%, 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.24% → 30%
Pace: the 5-year rate starts in 2020 (pandemic)

KBANK screens overvalued: fair value 11% below the price. Compare with China Merchants Bank Co →

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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.Banks - Regional · 1002 stocks

Beats the industry median on 10/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 67 · Top 25%
Fair Value upside −11.0% · Above median
Profitability
Return on equity (12 months) 8.5% · Below median
Return on assets 1.1% · Above median
Net margin (12 months) 33.0% · Above median
Operating margin (12 months) 46.7% · Above median
Growth and dividend
Revenue growth (quarter YoY) −4.5% · Bottom 25%
Dividend yield (12 months) 4.0% · Above median
Balance sheet
Debt / equity 0.38× · Above median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 11.6× · Pricier than median
P/B 1.00× · Cheaper than median
P/S (12 months) 3.77× · Pricier than median
Price / free cash flow (fiscal year) 4.7× · Cheapest 25%
EV/EBITDA 5.3× · Cheapest 25%
PEG 1.41× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)19 · sector 8
FUTURE (revenue growth)0 · sector 48
PAST (return on equity)34 · sector 43
HEALTH (low debt)81 · sector 85
DIVIDEND (yield)81 · sector 53

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Postal Savings Bank of China Co 601658 ¥5.52 ¥7.59 +38% vs KBANK
China Merchants Bank Co 600036 ¥42.54 ¥52.73 +24% vs KBANK
BNP Paribas SA BNP €91.94 €106.01 +15% vs KBANK
Intesa Sanpaolo S.p.A ISP €6.27 €4.59 −27% vs KBANK
UniCredit S.p.A UCG €77.18 €50.44 −35% vs KBANK
Oversea-Chinese Banking Corporation O39 27.93 SGD 18.20 SGD −35% vs KBANK
Mizuho Financial Group MFG $9.39 $5.90 −37% vs KBANK
DBS Group D05 71.20 SGD 40.39 SGD −43% vs KBANK
HDFC Bank Limited HDFCBANK ₹760.00 ₹406.39 −47% vs KBANK
ICICI Bank Limited ICICIBANK ₹1,500 ₹615.63 −59% vs KBANK

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Kasikornbank Public Company Limited: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Kasikornbank Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/KBANK

Frequently asked questions

Is Kasikornbank Public Company Limited (KBANK) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 219.77 THB versus a price of 247.00 THB, about 11% lower (overvalued).
What is the fair value of KBANK?
Our model-based fair value for Kasikornbank Public Company Limited is 219.77 THB (as of Nov 3, 2026), built from audited fundamentals. The current price: 247.00 THB.
What is the quality score of KBANK?
Kasikornbank Public Company Limited has a Quality Score of 67/100. 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 Kasikornbank Public Company Limited (KBANK)?
Our model-based price target is the fair value of 219.77 THB (as of Nov 3, 2026) from 6 valuation models. Cautious scenario 170.88 THB, optimistic scenario 284.79 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Kasikornbank Public Company Limited stock forecast for 2026?
Our models put fair value at 219.77 THB, about 11% lower versus a price of 247.00 THB (overvalued). Cautious scenario 170.88 THB, optimistic scenario 284.79 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Kasikornbank Public Company Limited (KBANK)?
Kasikornbank Public Company Limited reported trailing-twelve-month revenue of about 154B THB (latest available figure, as of Nov 3, 2026).
Does Kasikornbank Public Company Limited pay a dividend?
Kasikornbank Public Company Limited currently shows a dividend yield of 4.05% relative to its recent price (as of Nov 3, 2026).
What is the intrinsic value of Kasikornbank Public Company Limited (KBANK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kasikornbank Public Company Limited it is 219.77 THB per share (as of Nov 3, 2026), against a price of 247.00 THB. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Kasikornbank Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 3, 2026, KBANK trades above its calculated fair value: price 247.00 THB, fair value 219.77 THB, a gap of about −11% (overvalued). 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 KBANK?
No. The price is what the market pays today (247.00 THB); the fair value is what the company's own numbers justify (219.77 THB). For Kasikornbank Public Company Limited the two are 27.23 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Kasikornbank Public Company Limited worth?
The market values Kasikornbank Public Company Limited at about 581B THB (market capitalisation, as of Nov 3, 2026). Per share that is 247.00 THB; our models calculate a fair value of 219.77 THB per share.
What do the bullish and bearish scenarios say about KBANK?
Our models span a range for Kasikornbank Public Company Limited: cautious scenario 170.88 THB, base 219.77 THB, optimistic 284.79 THB per share (as of Nov 3, 2026, price 247.00 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KBANK?
Kasikornbank Public Company Limited trades at a price-to-earnings ratio of 11.6 (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 219.77 THB is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 9.3. Other multiples: PEG 1.4, P/B 1.0, P/S 3.8, EV/EBITDA 5.3.
What is the PEG ratio of KBANK?
The PEG ratio of Kasikornbank Public Company Limited is 1.41 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Kasikornbank Public Company Limited (KBANK)?
Balance-sheet figures for Kasikornbank Public Company Limited (as of Nov 3, 2026): return on equity 8.5%, debt of 0.38 per unit of equity. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is KBANK from its 52-week high?
Kasikornbank Public Company Limited trades at 247.00 THB, about 4% below its 52-week high of 258.00 THB and 39% above the low of 178.09 THB (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 219.77 THB is for.
Which stocks are comparable to Kasikornbank Public Company Limited?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, 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 Kasikornbank Public Company Limited stock attractive at the current price?
The data as of Nov 3, 2026: price 247.00 THB, calculated fair value 219.77 THB (−11%), Quality Score 67/100, from 6 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 KBANK calculated?
We run Kasikornbank Public Company Limited through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 219.77 THB, 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 15.5% above its aggregate fair value. Kasikornbank Public Company Limited 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 Kasikornbank Public Company Limited (KBANK)?
The closing price on Nov 5, 2026 was 247.00 THB. Our model-based fair value is 219.77 THB, about 11% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kasikornbank Public Company Limited right now?
For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Kasikornbank Public Company Limited (KBANK) come from?
Earnings per share at Kasikornbank Public Company Limited grew +1.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.3 %, EBIT margin −2.1 %, tax rate +0.0 %, residual (interest, one-offs) +0.2 %. 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 Kasikornbank Public Company Limited

How large is the market capitalisation of Kasikornbank Public Company Limited (KBANK)?
The market capitalisation of Kasikornbank Public Company Limited is 581B THB (≈ $17.3B). 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 Kasikornbank Public Company Limited (KBANK)?
The price-to-sales ratio of Kasikornbank Public Company Limited is 3.77 (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 Kasikornbank Public Company Limited (KBANK)?
Earnings per share at Kasikornbank Public Company Limited are 21.21 THB (price ÷ EPS = P/E 11.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kasikornbank Public Company Limited (KBANK)?
The dividend yield of Kasikornbank Public Company Limited is 4.0% (payout 47.1%). 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 Kasikornbank Public Company Limited (KBANK)?
The net margin of Kasikornbank Public Company Limited is 33.0% (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 Kasikornbank Public Company Limited (KBANK)?
The return on equity (ROE) of Kasikornbank Public Company Limited is 8.5% (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 Kasikornbank Public Company Limited (KBANK)?
On an EBIT basis the return on assets of Kasikornbank Public Company Limited is 1.3% (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 Kasikornbank Public Company Limited (KBANK)?
The operating margin of Kasikornbank Public Company Limited is 46.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kasikornbank Public Company Limited (KBANK)?
Revenue at Kasikornbank Public Company Limited is growing −4.5% versus a year earlier (3y avg +6.4%). 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 Kasikornbank Public Company Limited (KBANK)?
Earnings per share at Kasikornbank Public Company Limited are growing −1.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kasikornbank Public Company Limited (KBANK) generate?
The free cash flow of Kasikornbank Public Company Limited is 125B THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Kasikornbank Public Company Limited (KBANK) hold?
Kasikornbank Public Company Limited holds more cash than debt, 115B THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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