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88(Thailand) Public Company (88TH) Fair Value & Analysis

Consumer Defensive · TH · Market cap 867M THB

8T 88(Thailand) Public Company 88TH · BK
Price3.92 THB
Fair Value9.51 THB
Upside+142.6%
Quality84/100
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Healthy Growth
Solidly profitable · 13.9% net margin
generates free cash flow
4.51% dividend yield
Ranks above peers (10/13)
Wide moat 74/100
Evidence: Medium Range 7.13 THB – 11.88 THB Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 24 days ago

Share price −8.8% over the past month.

A strong business, screening 143% undervalued on our models.

What matters now

  • The rarer combination: high quality (84/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (7.13 THB). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (10 months)

7.87 THB 3.80 THB Fair Value 9.51 THB Oct 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 17, 2026.

How to read this chart

10‑month range 3.80 THB – 7.87 THB · fair‑value band 7.13 THB – 11.88 THB · the 3.92 THB price screens below the 9.51 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Jul 17, 2026.

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Analysis

88(Thailand) Public Company (88TH) currently trades at 3.92 THB, while our model-based Fair Value estimate is 9.51 THB, implying the stock looks roughly 142.6% undervalued today. The Quality Score stands at 84/100 (high quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, 88(Thailand) Public Company generated revenue of 654M THB at a net margin of 13.9%. Revenue declined 2.7% year over year. It earns a return on equity of 25.0%. The stock trades on a trailing P/E of 9.1. Fundamentals as of Jul 17, 2026

Our scenario range runs from 7.13 THB (bear case) to 11.88 THB (bull case); at 3.92 THB, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 67% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -26% fair-value upside, at 143%, 88TH screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Residual Income 2.65 THB 3.33 THB 8.38 THB 76
Growth DCF 8.61 THB 13.67 THB 21.63 THB 72
Gordon GGM 2.24 THB 4.03 THB 5.55 THB 70
All 26 models by family
DCF Models
FCF DCF 9.08 THB 12.49 THB 22.68 THB 38
Owner Earnings 8.24 THB 15.29 THB 28.37 THB 31
5Y Revenue Exit 8.05 THB 12.56 THB 21.96 THB 39
5Y EBITDA Exit 8.40 THB 13.25 THB 22.75 THB 41
5Y P/E Exit 8.97 THB 17.54 THB 29.15 THB 38
10Y Revenue Exit 8.23 THB 15.52 THB 20.02 THB 36
10Y EBITDA Exit 8.66 THB 16.20 THB 29.03 THB 37
10Y P/E Exit 9.04 THB 17.32 THB 30.73 THB 35
Earnings-Based
Graham-Dodd 3.23 THB 22.54 THB 31.63 THB 54
Lynch FV 11.65 THB 16.64 THB 21.63 THB 50
PEG = 1.0 11.65 THB 16.64 THB 21.63 THB 46
EPV 5.45 THB 5.97 THB 6.40 THB 59
Dividend Discount
Gordon GGM 2.24 THB 4.03 THB 5.55 THB 70
DDM Multi-Stage 2.24 THB 3.68 THB 4.31 THB 61
Multiples
P/E Multiple 7.13 THB 9.51 THB 11.88 THB 63
P/S Multiple 5.80 THB 7.74 THB 9.67 THB 58
P/B Multiple 5.15 THB 6.87 THB 8.59 THB 55
EV/EBIT 9.76 THB 12.45 THB 15.15 THB 53
EV/EBITDA 7.97 THB 10.07 THB 12.17 THB 54
EV/Revenue 7.08 THB 9.40 THB 11.72 THB 43
Asset-Based
NCAV (Graham) 1.15 THB 1.53 THB 2.29 THB 50
Growth DCF
Growth DCF 8.61 THB 13.67 THB 21.63 THB 72
Rev-Margin DCF 8.71 THB 14.12 THB 25.45 THB 67
Economic Profit
Residual Income 2.65 THB 3.33 THB 8.38 THB 76
ROIC Compounder 6.07 THB 7.50 THB 9.11 THB 67
Growth Earnings
Growth-Adj P/E 15.01 THB 21.44 THB 27.87 THB 68

Widest divergence: Growth Earnings (21.44 THB) versus Asset-Based (1.53 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 654M THB
Revenue growth (YoY) -2.7%
Net margin 13.9%
Return on equity 25.0%
Free cash flow 116M THB FY2025
P/E ratio 9.1
More key figures
Operating margin 16.7%
EPS (TTM) 0.4700 THB
Dividend yield 4.2%
EPS growth (YoY) -45.0%

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 84/100

Of which business quality 82 · Market factors (momentum, volatility) 23

Profitability 86
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 26
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

88(Thailand) Public Company Limited manufactures and distributes cosmetics and dietary supplements. Its brands include the Ver.88, Lyo, and Hone names. The company was founded in 2015 and is based in Bangkok, Thailand.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2023 – FY2025 · reported fiscal years

88(Thailand) Public Company reported revenue of 658M THB in FY2025 versus 364M THB in FY2023, a compound +34.4%/yr. Reported net income was 101M THB in FY2025, compounding +97.4%/yr from FY2023.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
658M THB
Latest YoY
+37.6%
Revenue +34.4%/yr
FY23 364M THB
FY24 478M THB
FY25 658M THB
Net income +97.4%/yr
FY23 25.9M THB
FY24 55.8M THB
FY25 101M THB

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Cite: Fair Value Calculator (2026). "88(Thailand) Public Company Fair Value". https://www.fairvalue-calculator.com/stock/88TH

Peer Group

Household & Personal Products · 244 stocks

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.

Quality Score 84 · Top 25%
Fair Value upside +143% · Top 25%
Return on equity (TTM) 25% · Top 25%
Return on assets 19% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth -3% · Below median
Dividend yield (TTM) 4.5% · Above median

Valuation Multiples vs Household & Personal Products median · lower = cheaper

P/E (TTM) 8.7× · Cheaper than 75% of peers
P/B 1.78× · Pricier than median
P/S (TTM) 1.33× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 4.4× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 28
FUTURE 0 · sector 4
PAST 100 · sector 26
HEALTH 0 · sector 98
DIVIDEND 90 · sector 50

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
The Procter & Gamble Company PG $146.80 $108.16 -26%
Unilever PLC ULN 1,080 MXN 1,273 MXN +18%
Hindustan Unilever Limited HINDUNILVR ₹2,144 ₹1,000 -53%
Essity AB ESSITYA kr 279.00 kr 250.02 -10%
Godrej Consumer Products Limited GODREJCP ₹1,088 ₹367.64 -66%
Marico Limited MARICO ₹846.75 ₹233.05 -72%
APR Co 278470 375,000 KRW 151,222 KRW -60%
Dabur India Limited DABUR ₹429.45 ₹181.60 -58%
Kimberly-Clark de México, S. A. B. de C. V., KIMBERA 38.07 MXN 50.09 MXN +32%
PT Unilever Indonesia Tbk UNVR 1,730 IDR 1,934 IDR +12%

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Frequently asked questions

Is 88(Thailand) Public Company (88TH) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 9.51 THB versus a price of 3.92 THB, about +143% (undervalued).
What is the fair value of 88TH?
Our model-based fair value for 88(Thailand) Public Company is 9.51 THB (as of Jul 17, 2026), built from audited fundamentals. The current price is 3.92 THB.
What is the quality score of 88TH?
88(Thailand) Public Company has a Quality Score of 84/100. 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 revenue of 88(Thailand) Public Company (88TH)?
88(Thailand) Public Company reported trailing-twelve-month revenue of about 654M THB (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 88TH?
The net profit margin of 88(Thailand) Public Company is about 13.9%, meaning it keeps roughly 13.9% of revenue as net income. Based on the latest reported figures.
Does 88(Thailand) Public Company pay a dividend?
88(Thailand) Public Company currently shows a dividend yield of about 4.20% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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