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King Gen PCL (KGEN) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of King Gen PCL stock THB 0.29, price THB 1.82, that is 84.1% below the price, quality 35 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Industrials TH

KG King Gen PCL logo Thin data Nov 9, 2026

King Gen PCL

KGEN · BK
Very expensive, weak quality

Our calculation puts a fair price 84% below what the stock costs today.

Low debt
Revenue last quarter +36% vs. a year ago.
Fair value 0.2900 THB · Strongly overvalued
Quality 35/100
Weak Growth (revenue 5y −3.5 %/yr in THB)
Loss-making · -5.3% net margin (TTM)
Negative free cash flow
Trails peers (2/10)
Narrow moat 13/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

2.84 THB 0.4900 THB Fair Value 0.2900 THB May 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

60‑month range 0.4900 THB – 2.84 THB · fair‑value band 0.2200 THB – 0.4400 THB · the 1.82 THB price screens above the 0.2900 THB fair value. As of Nov 9, 2026.

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Company profile

King Gen Public Company Limited engages in transportation activities in Thailand. It provides passenger and goods transportation services. It also engages in manufacturing activities.

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The company was formerly known as Nation Broadcasting Corporation Public Company Limited and changed its name to King Gen Public Company Limited in December 2022. The company was incorporated in 1993 and is headquartered in Bangkok, Thailand.

Stock analysis

King Gen PCL (KGEN) currently trades at 1.82 THB, while our model-based Fair Value estimate is 0.2900 THB, 84% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 94/100, which puts the data coverage at low.

Scenario range: 0.2200 THB (bear) to 0.4400 THB (bull), the price of 1.82 THB sits above 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 35/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

King Gen PCL reported revenue of 718M THB in FY2025 versus 395M THB in FY2021, a compound +16.1%/yr. Reported net income was −136M THB in FY2025.

Key figures

Market cap 3.8B THB (≈ $112M) Micro · P/S ratio 4.37 · EPS (TTM) −0.0100 THB · Net margin −18.9% · Return on equity −4.1% · Return on assets (EBIT) −8.7% (5-year average) · Operating margin −2.5% · Revenue (TTM) 784M THB.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 13 out of 100 (low confidence).

What moves the price

The share trades about 22% below its 52-week high and 257% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −19% fair-value upside, at −84%, KGEN screens richer than that median.

Fair Value models

Bear 0.2200 THB Fair Value 0.2900 THB Bull 0.4400 THB
Price 1.82 THB · Downside -84.1%
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. 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
NCAV (Graham) 0.2200 THB 0.2900 THB 0.4400 THB 54
All 1 models by family
Asset-Based
NCAV (Graham) 0.2200 THB 0.2900 THB 0.4400 THB 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 35/100

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

Profitability 6
How much profit the company makes from its sales and capital
Quality Growth 51
Are margins and returns getting better?
Cashflow 5
Do the profits arrive as real cash?
Financial strength 74
Debt, balance sheet and risk of trouble
Investment 37
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 76
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 86
Distance to the 52-week high, does not count
New shares 50
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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−2.2%
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.
−3.5%
Start year 2020 (pandemic). Over 10 years: −1.4% a year
Revenue growth 17 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.
+4.5%
Profit margin (trend) ⓘ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.
−0.5% (2020) → −22.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

KGEN screens overvalued: fair value 84% below the price. Compare with Union Pacific Corporation →

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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.Railroads · 108 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside −84.1% · Bottom 25%
Profitability
Return on assets −8.0% · Bottom 25%
Net margin (12 months) −5.3% · Bottom 25%
Operating margin (12 months) −2.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 36.0% · Top 25%
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Railroads median · lower = cheaper

P/B 3.60× · Priciest 25%
P/S (12 months) 4.80× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 18
FUTURE (revenue growth)100 · sector 20
PAST (return on equity)0 · sector 30
HEALTH (low debt)100 · sector 91
DIVIDEND (yield)0 · sector 42

VALUE 0: the price sits above our fair-value range.

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 Railroads stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
CRRC Corporation 601766 ¥6.55 ¥9.21 +41% vs KGEN
Beijing-Shanghai High-Speed Railway Co 601816 ¥5.36 ¥5.84 +9% vs KGEN
Westinghouse Air Brake Technologies Corporation WAB $283.59 $290.92 +3% vs KGEN
Daqin Railway Co 601006 ¥4.88 ¥4.66 −5% vs KGEN
Canadian National Railway Company CNI $124.06 $100.13 −19% vs KGEN
Union Pacific Corporation UNP $290.16 $153.89 −47% vs KGEN
Getlink SE GET €20.22 €10.47 −48% vs KGEN
Norfolk Southern Corporation NSC $319.94 $132.55 −59% vs KGEN
Canadian Pacific Kansas City Limited CP $92.17 $38.04 −59% vs KGEN
CSX Corporation CSX $49.12 $12.92 −74% vs KGEN

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King Gen PCL: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "King Gen PCL Fair Value". https://www.fairvalue-calculator.com/stock/KGEN

Frequently asked questions

Is King Gen PCL (KGEN) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 0.2900 THB versus a price of 1.82 THB, about 84% lower (overvalued).
What is the fair value of KGEN?
Our model-based fair value for King Gen PCL is 0.2900 THB (as of Nov 9, 2026), built from audited fundamentals. The current price: 1.82 THB.
What is the quality score of KGEN?
King Gen PCL has a Quality Score of 35/100. 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 King Gen PCL (KGEN)?
Our model-based price target is the fair value of 0.2900 THB (as of Nov 9, 2026) from 1 valuation models. Cautious scenario 0.2200 THB, optimistic scenario 0.4400 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the King Gen PCL stock forecast for 2026?
Our models put fair value at 0.2900 THB, about 84% lower versus a price of 1.82 THB (overvalued). Cautious scenario 0.2200 THB, optimistic scenario 0.4400 THB. The calculation is refreshed regularly with new filings.
What is the revenue of King Gen PCL (KGEN)?
King Gen PCL reported trailing-twelve-month revenue of about 784M THB (latest available figure, as of Nov 9, 2026).
What is the intrinsic value of King Gen PCL (KGEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For King Gen PCL it is 0.2900 THB per share (as of Nov 9, 2026), against a price of 1.82 THB. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is King Gen PCL stock overvalued or undervalued in 2026?
As of Nov 9, 2026, KGEN trades above its calculated fair value: price 1.82 THB, fair value 0.2900 THB, a gap of about −84% (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 KGEN?
No. The price is what the market pays today (1.82 THB); the fair value is what the company's own numbers justify (0.2900 THB). For King Gen PCL the two are 1.53 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is King Gen PCL worth?
The market values King Gen PCL at about 3.8B THB (market capitalisation, as of Nov 9, 2026). Per share that is 1.82 THB; our models calculate a fair value of 0.2900 THB per share.
What do the bullish and bearish scenarios say about KGEN?
Our models span a range for King Gen PCL: cautious scenario 0.2200 THB, base 0.2900 THB, optimistic 0.4400 THB per share (as of Nov 9, 2026, price 1.82 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of King Gen PCL (KGEN)?
Balance-sheet figures for King Gen PCL (as of Nov 9, 2026): return on equity −4.1%, debt of 0.00 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is KGEN from its 52-week high?
King Gen PCL trades at 1.82 THB, about 22% below its 52-week high of 2.34 THB and 257% above the low of 0.5100 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 0.2900 THB is for.
Which stocks are comparable to King Gen PCL?
From the same area (Industrials) we also value Union Pacific Corporation, CSX Corporation, Canadian Pacific Kansas City Limited, Norfolk Southern 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 King Gen PCL stock attractive at the current price?
The data as of Nov 9, 2026: price 1.82 THB, calculated fair value 0.2900 THB (−84%), Quality Score 35/100, from 1 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 KGEN calculated?
We run King Gen PCL through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 0.2900 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. King Gen 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 King Gen PCL (KGEN)?
The closing price on Nov 6, 2026 was 1.82 THB. Our model-based fair value is 0.2900 THB, about 84% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with King Gen PCL right now?
The price sits above even our optimistic bull case (0.4400 THB). The favourable scenario is already priced in. Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (0.2200 THB to 0.4400 THB) leaves room in how you read the outcome.

Key figures of King Gen PCL

How large is the market capitalisation of King Gen PCL (KGEN)?
The market capitalisation of King Gen PCL is 3.8B THB (≈ $112M). 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 King Gen PCL (KGEN)?
The price-to-sales ratio of King Gen PCL is 4.37 (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 King Gen PCL (KGEN)?
Earnings per share at King Gen PCL are −0.0100 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of King Gen PCL (KGEN)?
The net margin of King Gen PCL is −18.9% (fiscal year 2025). 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 King Gen PCL (KGEN)?
The return on equity (ROE) of King Gen PCL is −4.1% (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 King Gen PCL (KGEN)?
On an EBIT basis the return on assets of King Gen PCL is −8.7% (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 King Gen PCL (KGEN)?
The operating margin of King Gen PCL is −2.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at King Gen PCL (KGEN)?
Revenue at King Gen PCL is growing +36.0% versus a year earlier (3y avg +66.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does King Gen PCL (KGEN) generate?
The free cash flow of King Gen PCL is −24.7M 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 debt does King Gen PCL (KGEN) carry?
The net debt of King Gen PCL is 180M THB (fiscal year 2025). 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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