Thai Life Insurance PCL (TLI) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Thai Life Insurance PCL stock THB 16.14, price THB 11.40, upside +41.6%, quality 56 out of 100. Rating: undervalued. Calculated from audited financials with 6 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
51‑month range 5.87 THB – 13.60 THB · fair‑value band 12.11 THB – 20.18 THB · the 11.40 THB price screens below the 16.14 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
Follow Thai Life Insurance PCL in your weekly email
Every Wednesday you see whether Thai Life Insurance PCL is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Thai Life Insurance Public Company Limited provides life insurance products in Thailand. It operates in two segments, Agent Channel and Partnership and Other Channels.
Show moreShow less
The company offers life and saving products, including whole life, endowment, annuity, term life, unit link, and universal life; other products, such as personal accident and yearly renewable term, as well as credit life; and individual and group products comprising protection, savings, investment, and legacy-planning.
It sells its products through commercial banks, government banks and organizations, leasing and hire-purchase, consumer finance partners, direct marketing, group employee benefits, and digital platforms. The company was founded in 1942 and is headquartered in Bangkok, Thailand.
Thai Life Insurance Public Company Limited operates as a subsidiary of V.C. Property Company Limited.
Stock analysis
Thai Life Insurance PCL (TLI) currently trades at 11.40 THB, while our model-based Fair Value estimate is 16.14 THB, implying the stock looks roughly 29% undervalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of 16.14 THB per share, and 3 of the 6 models we run sit above the 11.40 THB price.
Bear case: the Dividend Discount group reads lowest at 4.79 THB, and 3 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: 12.11 THB (bear) to 20.18 THB (bull), the price of 11.40 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 56/100 (solid quality), in the Financial Services sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Thai Life Insurance PCL reported revenue of 55.5B THB in FY2025 versus 108B THB in FY2021, a compound −15.4%/yr. Reported net income was 11.9B THB in FY2025, compounding +9.1%/yr from FY2021.
Key figures
Market cap 131B THB (≈ $3.9B) Mid · P/E ratio 10.9 · P/S ratio 3.30 · EPS (TTM) 1.05 THB · Dividend yield 7.5% · Net margin 30.6% · Return on equity 8.6% · Return on assets (EBIT) 2.2% (5-year average).
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 3% below its 52-week high and 37% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at 42%, TLI screens cheaper than that median.
Fair Value models
Bear12.11 THBFair Value 16.14 THBBull20.18 THB
Price 11.40 THB · Upside +41.6%
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 (0.1715 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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
+0.3%
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.
+0.1%
Revenue growth 8 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.
+2.1%
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
+14.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.4%
Dividend (yield on the price)7.5%
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.7.4% vs 6.4%, steady
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.9% → 27%
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.
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).
+25.3%
Yearly growth needed for the next five years to justify today's price.
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 +23.8% a year for the price.
Compare Thai Life Insurance PCL with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Insurance - Life · 77 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside+41.6% · Top 25%
Profitability
Return on equity (12 months)8.6% · Below median
Return on assets1.8% · Above median
Net margin (12 months)30.6% · Top 25%
Operating margin (12 months)39.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−1.4% · Below median
Dividend yield (12 months)7.5% · Top 25%
Valuation Multiplesvs Insurance - Life 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). "Thai Life Insurance PCL Fair Value". https://www.fairvalue-calculator.com/stock/TLI
Frequently asked questions
Is Thai Life Insurance PCL (TLI) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 16.14 THB versus a price of 11.40 THB, about +42% upside (undervalued).
What is the fair value of TLI?
Our model-based fair value for Thai Life Insurance PCL is 16.14 THB (as of Nov 3, 2026), built from audited fundamentals. The current price: 11.40 THB.
What is the quality score of TLI?
Thai Life Insurance PCL has a Quality Score of 56/100. 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 Thai Life Insurance PCL (TLI)?
Our model-based price target is the fair value of 16.14 THB (as of Nov 3, 2026) from 6 valuation models. Cautious scenario 12.11 THB, optimistic scenario 20.18 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Thai Life Insurance PCL stock forecast for 2026?
Our models put fair value at 16.14 THB, about +42% upside versus a price of 11.40 THB (undervalued). Cautious scenario 12.11 THB, optimistic scenario 20.18 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Thai Life Insurance PCL (TLI)?
Thai Life Insurance PCL reported trailing-twelve-month revenue of about 39.6B THB (latest available figure, as of Nov 3, 2026).
Does Thai Life Insurance PCL pay a dividend?
Thai Life Insurance PCL currently shows a dividend yield of 7.46% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Thai Life Insurance PCL (TLI) and when is the ex-dividend date?
Thai Life Insurance PCL pays a dividend of 0.85 THB per share a year, a dividend yield of 7.5%. The last ex-dividend date was Aug 28, 2026. The payout ratio is 81.0% of earnings. Free cash flow covers the dividend 0.29 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Thai Life Insurance PCL (TLI)?
For today's price to be fair in a discounted-cash-flow model, Thai Life Insurance PCL would have to grow free cash flow by +25.3 % 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 -12.4 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of TLI use?
Our models discount Thai Life Insurance 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 Thai Life Insurance PCL that is +25.3 % 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 Thai Life Insurance PCL (TLI) delivered so far?
Over the past 5 years revenue at Thai Life Insurance PCL grew -12.4 % a year. The price currently implies free-cash-flow growth of +25.3 % 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 Thai Life Insurance PCL (TLI) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Thai Life Insurance PCL (+25.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Thai Life Insurance PCL (TLI)?
The free-cash-flow yield on the price is 2.18 %: that much free cash flow Thai Life Insurance 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 Thai Life Insurance PCL (TLI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thai Life Insurance PCL it is 16.14 THB per share (as of Nov 3, 2026), against a price of 11.40 THB. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Thai Life Insurance PCL stock overvalued or undervalued in 2026?
As of Nov 3, 2026, TLI trades below its calculated fair value: price 11.40 THB, fair value 16.14 THB, a gap of about +42% (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 TLI?
No. The price is what the market pays today (11.40 THB); the fair value is what the company's own numbers justify (16.14 THB). For Thai Life Insurance PCL the two are 4.74 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Thai Life Insurance PCL worth?
The market values Thai Life Insurance PCL at about 131B THB (market capitalisation, as of Nov 3, 2026). Per share that is 11.40 THB; our models calculate a fair value of 16.14 THB per share.
What do the bullish and bearish scenarios say about TLI?
Our models span a range for Thai Life Insurance PCL: cautious scenario 12.11 THB, base 16.14 THB, optimistic 20.18 THB per share (as of Nov 3, 2026, price 11.40 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TLI?
Thai Life Insurance PCL trades at a price-to-earnings ratio of 10.9 (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 16.14 THB is built from several models across several years. Other multiples: P/B 0.8, P/S 3.3, EV/EBITDA 8.0.
How solid is the balance sheet of Thai Life Insurance PCL (TLI)?
Balance-sheet figures for Thai Life Insurance PCL (as of Nov 3, 2026): return on equity 8.6%. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is TLI from its 52-week high?
Thai Life Insurance PCL trades at 11.40 THB, about 3% below its 52-week high of 11.74 THB and 37% above the low of 8.35 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 16.14 THB is for.
Which stocks are comparable to Thai Life Insurance PCL?
From the same area (Financial Services) we also value Ping An Insurance (Group) Company, China Life Insurance Company, AIA Group, Manulife Financial 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 Thai Life Insurance PCL stock attractive at the current price?
The data as of Nov 3, 2026: price 11.40 THB, calculated fair value 16.14 THB (+42%), Quality Score 56/100, 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 TLI calculated?
We run Thai Life Insurance PCL through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 16.14 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. Thai Life Insurance PCL currently trades 29% 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 Thai Life Insurance PCL (TLI)?
The closing price on Nov 6, 2026 was 11.40 THB. Our model-based fair value is 16.14 THB, about +42% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Thai Life Insurance PCL right now?
The price is below even our cautious bear case (12.11 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. Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Thai Life Insurance PCL
How large is the market capitalisation of Thai Life Insurance PCL (TLI)?
The market capitalisation of Thai Life Insurance PCL is 131B THB (≈ $3.9B). 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 Thai Life Insurance PCL (TLI)?
The price-to-sales ratio of Thai Life Insurance PCL is 3.30 (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 Thai Life Insurance PCL (TLI)?
Earnings per share at Thai Life Insurance PCL are 1.05 THB (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Thai Life Insurance PCL (TLI)?
The dividend yield of Thai Life Insurance PCL is 7.5% (payout 81.0%). 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 Thai Life Insurance PCL (TLI)?
The net margin of Thai Life Insurance PCL is 30.6% (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 Thai Life Insurance PCL (TLI)?
The return on equity (ROE) of Thai Life Insurance PCL is 8.6% (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 Thai Life Insurance PCL (TLI)?
On an EBIT basis the return on assets of Thai Life Insurance PCL is 2.2% (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 Thai Life Insurance PCL (TLI)?
The operating margin of Thai Life Insurance PCL is 39.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thai Life Insurance PCL (TLI)?
Revenue at Thai Life Insurance PCL is growing −1.4% versus a year earlier (3y avg −19.8%). 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 Thai Life Insurance PCL (TLI)?
Earnings per share at Thai Life Insurance PCL are growing −9.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Thai Life Insurance PCL (TLI) hold?
Thai Life Insurance PCL holds more cash than debt, 7.9B THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Thai Life Insurance PCL in the live analysis
One click puts Thai Life Insurance PCL on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Thin data
Nov 3, 2026