TQR Public Company Limited (TQR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of TQR Public Company Limited stock THB 4.39, price THB 6.30, that is 30.3% below the price, quality 82 out of 100. Rating: overvalued. 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 9, 2026.
How to read this chart
60‑month range 4.10 THB – 15.02 THB · fair‑value band 3.26 THB – 5.48 THB · the 6.30 THB price screens above the 4.39 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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TQR Public Company Limited operates as a reinsurance broker in Thailand and internationally. It operates through three segments: Traditional Business, Alternatives Business, and Other Business.
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The company offers treaty and facultative reinsurance; and motor car, motorcycle, extended warranty, travel, cyber security, medical malpractice, and director and officer liability insurance services. It also provides packaged software and seminar services.
TQR Public Company Limited was founded in 2012 and is based in Bangkok, Thailand.
Stock analysis
TQR Public Company Limited (TQR) currently trades at 6.30 THB, while our model-based Fair Value estimate is 4.39 THB, 30% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 5.85 THB per share, and 0 of the 6 models we run sit above the 6.30 THB price.
Bear case: the Economic Profit group reads lowest at 3.12 THB, and 6 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: 3.26 THB (bear) to 5.48 THB (bull), the price of 6.30 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 82/100 (high quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
TQR Public Company Limited reported revenue of 276M THB in FY2025 versus 256M THB in FY2021, a compound +1.8%/yr. Reported net income was 101M THB in FY2025, compounding +0.9%/yr from FY2021.
Key figures
Market cap 1.4B THB (≈ $43.3M) Micro · P/E ratio 12.6 · P/S ratio 5.02 · EPS (TTM) 0.5000 THB · Dividend yield 6.8% · Net margin 39.5% · Return on equity 21.6% · Return on assets (EBIT) 21.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 85 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 40% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at 7% fair-value upside, at −30%, TQR screens richer than that median.
Fair Value models
Bear3.26 THBFair Value 4.39 THBBull5.48 THB
Price 6.30 THB · Downside -30.3%
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 (0.0617 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.84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.5%
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.
+4.2%
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.
+7.1%
Start year 2020 (pandemic)
Revenue growth 9 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.
+12.8%
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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.
≈ +13.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +6.4%
Dividend (yield on the price)6.8%
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.base effect: 6.4% / −15.6%
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.48% → 46%
⚠ Revenue per share shrinking 21.7%/yr over ~7Y (margins intact) ⓘ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.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.32 per share, median 1.37 in 2016 to 2018). It measures the recovery from the trough, not lasting growth.
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).
−1.8%
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 −2.9% a year for the price.
Compare TQR Public Company Limited with another stock
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.Insurance - Reinsurance · 22 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score82 · Top 25%
Fair Value upside−30.3% · Bottom 25%
Profitability
Return on equity (12 months)21.6% · Top 25%
Return on assets16.0% · Top 25%
Net margin (12 months)39.5% · Top 25%
Operating margin (12 months)46.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)9.8% · Above median
Dividend yield (12 months)6.8% · Top 25%
Valuation Multiplesvs Insurance - Reinsurance median · lower = cheaper
P/E (12 months)12.6× · Priciest 25%
P/B2.77× · Priciest 25%
P/S (12 months)5.02× · Priciest 25%
Price / free cash flow (fiscal year)13.1× · Pricier than median
EV/EBITDA9.6× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 48
FUTURE (revenue growth)49· sector 0
PAST (return on equity)86· sector 56
HEALTH (low debt)0· sector 89
DIVIDEND (yield)100· sector 85
VALUE 0: the price sits above our fair-value range.
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). "TQR Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TQR
Frequently asked questions
Is TQR Public Company Limited (TQR) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 4.39 THB versus a price of 6.30 THB, about 30% lower (overvalued).
What is the fair value of TQR?
Our model-based fair value for TQR Public Company Limited is 4.39 THB (as of Nov 9, 2026), built from audited fundamentals. The current price: 6.30 THB.
What is the quality score of TQR?
TQR Public Company Limited has a Quality Score of 82/100. 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 TQR Public Company Limited (TQR)?
Our model-based price target is the fair value of 4.39 THB (as of Nov 9, 2026) from 6 valuation models. Cautious scenario 3.26 THB, optimistic scenario 5.48 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the TQR Public Company Limited stock forecast for 2026?
Our models put fair value at 4.39 THB, about 30% lower versus a price of 6.30 THB (overvalued). Cautious scenario 3.26 THB, optimistic scenario 5.48 THB. The calculation is refreshed regularly with new filings.
What is the revenue of TQR Public Company Limited (TQR)?
TQR Public Company Limited reported trailing-twelve-month revenue of about 289M THB (latest available figure, as of Nov 9, 2026).
Does TQR Public Company Limited pay a dividend?
TQR Public Company Limited currently shows a dividend yield of 6.79% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of TQR Public Company Limited (TQR) and when is the ex-dividend date?
TQR Public Company Limited pays a dividend of 0.428 THB per share a year, a dividend yield of 6.8%. The last ex-dividend date was Aug 24, 2026. A dividend has been paid every year since at least 2021. The payout ratio is 85.6% of earnings. Free cash flow covers the dividend 1.13 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 TQR Public Company Limited (TQR)?
For today's price to be fair in a discounted-cash-flow model, TQR Public Company Limited would have to grow free cash flow by -1.8 % 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 +7.1 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of TQR use?
Our models discount TQR Public Company Limited at 10.1 %: a base by market capitalisation (nano), damped by beta 0.12, 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 TQR Public Company Limited that is -1.8 % 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 TQR Public Company Limited (TQR) delivered so far?
Over the past 5 years revenue at TQR Public Company Limited grew +7.1 % a year. The price currently implies free-cash-flow growth of -1.8 % 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 TQR Public Company Limited (TQR) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into TQR Public Company Limited (-1.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of TQR Public Company Limited (TQR)?
The free-cash-flow yield on the price is 7.66 %: that much free cash flow TQR Public Company Limited 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 TQR Public Company Limited (TQR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TQR Public Company Limited it is 4.39 THB per share (as of Nov 9, 2026), against a price of 6.30 THB. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is TQR Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 9, 2026, TQR trades above its calculated fair value: price 6.30 THB, fair value 4.39 THB, a gap of about −30% (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 TQR?
No. The price is what the market pays today (6.30 THB); the fair value is what the company's own numbers justify (4.39 THB). For TQR Public Company Limited the two are 1.91 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is TQR Public Company Limited worth?
The market values TQR Public Company Limited at about 1.4B THB (market capitalisation, as of Nov 9, 2026). Per share that is 6.30 THB; our models calculate a fair value of 4.39 THB per share.
What do the bullish and bearish scenarios say about TQR?
Our models span a range for TQR Public Company Limited: cautious scenario 3.26 THB, base 4.39 THB, optimistic 5.48 THB per share (as of Nov 9, 2026, price 6.30 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TQR?
TQR Public Company Limited trades at a price-to-earnings ratio of 12.6 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 4.39 THB is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings: 15.5. Other multiples: P/B 2.8, P/S 5.0, EV/EBITDA 9.6.
How solid is the balance sheet of TQR Public Company Limited (TQR)?
Balance-sheet figures for TQR Public Company Limited (as of Nov 9, 2026): return on equity 21.6%. They feed the Quality Score of 82/100, which measures business quality independently of the share price.
How far is TQR from its 52-week high?
TQR Public Company Limited trades at 6.30 THB, about 2% below its 52-week high of 6.45 THB and 40% above the low of 4.49 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 4.39 THB is for.
Which stocks are comparable to TQR Public Company Limited?
From the same area (Financial Services) we also value MUV2, Swiss Re AG, Hannover Rück SE, Reinsurance 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 TQR Public Company Limited stock attractive at the current price?
The data as of Nov 9, 2026: price 6.30 THB, calculated fair value 4.39 THB (−30%), Quality Score 82/100, 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 TQR calculated?
We run TQR Public Company Limited through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 4.39 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. TQR 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 TQR Public Company Limited (TQR)?
The closing price on Nov 6, 2026 was 6.30 THB. Our model-based fair value is 4.39 THB, about 30% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TQR Public Company Limited right now?
A high-quality business (quality 82/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (5.48 THB). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. 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 TQR Public Company Limited
How large is the market capitalisation of TQR Public Company Limited (TQR)?
The market capitalisation of TQR Public Company Limited is 1.4B THB (≈ $43.3M). 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 TQR Public Company Limited (TQR)?
The price-to-sales ratio of TQR Public Company Limited is 5.02 (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 TQR Public Company Limited (TQR)?
Earnings per share at TQR Public Company Limited are 0.5000 THB (price ÷ EPS = P/E 12.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TQR Public Company Limited (TQR)?
The dividend yield of TQR Public Company Limited is 6.8% (payout 85.6%). 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 TQR Public Company Limited (TQR)?
The net margin of TQR Public Company Limited is 39.5% (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 TQR Public Company Limited (TQR)?
The return on equity (ROE) of TQR Public Company Limited is 21.6% (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 TQR Public Company Limited (TQR)?
On an EBIT basis the return on assets of TQR Public Company Limited is 21.2% (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 TQR Public Company Limited (TQR)?
The operating margin of TQR Public Company Limited is 46.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TQR Public Company Limited (TQR)?
Revenue at TQR Public Company Limited is growing +9.8% versus a year earlier (3y avg +4.2%). 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 TQR Public Company Limited (TQR)?
Earnings per share at TQR Public Company Limited are growing +48.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does TQR Public Company Limited (TQR) hold?
TQR Public Company Limited holds more cash than debt, 117M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 9, 2026