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Asia Network International Public Company (ANI) Fair Value & Analysis

Industrials · TH · Market cap 5.5B THB

AN Asia Network International Public Company ANI · BK
Price3.64 THB
Fair Value6.51 THB
Upside+78.9%
Quality59/100
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Mixed Growth
Thin margins · 7.4% net margin
Low debt · generates free cash flow
6.85% dividend yield
Ranks above peers (12/14)
Narrow moat 44/100
Evidence: High Range 4.89 THB – 8.14 THB Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 22 days ago

Share price +29.1% over the past month.

A solid business, screening 79% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (4.89 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (3 years)

6.07 THB 2.17 THB Fair Value 6.51 THB Dec 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

32‑month range 2.17 THB – 6.07 THB · fair‑value band 4.89 THB – 8.14 THB · the 3.64 THB price screens below the 6.51 THB fair value. Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Asia Network International Public Company (ANI) currently trades at 3.64 THB, while our model-based Fair Value estimate is 6.51 THB, implying the stock looks roughly 78.9% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Industrials 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: high), always confirm before acting.

Over the trailing twelve months, Asia Network International Public Company generated revenue of 7.4B THB at a net margin of 7.4%. Revenue declined 0.7% year over year. It earns a return on equity of 7.0%. The balance sheet holds a net cash position of 256M THB. Fundamentals as of Jul 19, 2026

Our scenario range runs from 4.89 THB (bear case) to 8.14 THB (bull case); at 3.64 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 near its 52-week high and 53% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -11% fair-value upside, at 79%, ANI 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
Growth DCF 5.42 THB 9.98 THB 17.32 THB 80
Residual Income 3.50 THB 3.68 THB 3.89 THB 76
Rev-Margin DCF 5.46 THB 9.53 THB 18.05 THB 74
All 26 models by family
DCF Models
FCF DCF 5.75 THB 8.65 THB 17.69 THB 38
Owner Earnings 6.00 THB 12.84 THB 26.66 THB 31
5Y Revenue Exit 4.98 THB 8.38 THB 15.51 THB 39
5Y EBITDA Exit 5.48 THB 9.39 THB 17.06 THB 41
5Y P/E Exit 5.52 THB 11.74 THB 20.20 THB 38
10Y Revenue Exit 5.11 THB 10.83 THB 14.49 THB 36
10Y EBITDA Exit 5.64 THB 11.88 THB 22.69 THB 37
10Y P/E Exit 5.67 THB 11.97 THB 22.28 THB 35
Earnings-Based
Graham-Dodd 2.11 THB 14.71 THB 20.64 THB 54
Lynch FV 7.60 THB 10.86 THB 14.11 THB 50
PEG = 1.0 7.60 THB 10.86 THB 14.11 THB 46
EPV 3.54 THB 4.04 THB 4.47 THB 59
Dividend Discount
Gordon GGM 1.32 THB 2.63 THB 3.98 THB 70
DDM Multi-Stage 1.32 THB 2.27 THB 2.77 THB 61
Multiples
P/E Multiple 4.89 THB 6.51 THB 8.14 THB 63
P/S Multiple 3.95 THB 5.27 THB 6.59 THB 58
P/B Multiple 3.95 THB 5.27 THB 6.59 THB 55
EV/EBIT 5.81 THB 7.62 THB 9.43 THB 53
EV/EBITDA 5.20 THB 6.81 THB 8.42 THB 54
EV/Revenue 4.25 THB 5.91 THB 7.58 THB 43
Asset-Based
NCAV (Graham) 2.17 THB 2.91 THB 4.35 THB 50
Growth DCF
Growth DCF 5.42 THB 9.98 THB 17.32 THB 80
Rev-Margin DCF 5.46 THB 9.53 THB 18.05 THB 74
Economic Profit
Residual Income 3.50 THB 3.68 THB 3.89 THB 76
ROIC Compounder 3.54 THB 4.04 THB 4.67 THB 72
Growth Earnings
Growth-Adj P/E 9.94 THB 14.20 THB 18.46 THB 68

Widest divergence: Growth Earnings (14.20 THB) versus Dividend Discount (2.27 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 7.4B THB
Revenue growth (YoY) -1.1%
Net margin 7.4%
Return on equity 7.0%
Free cash flow 624M THB FY2025
P/E ratio 9.9
More key figures
Operating margin 10.0%
EPS (TTM) 0.3000 THB
Dividend yield 6.9%
EPS growth (YoY) -17.8%
Net cash 256M THB FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 60 · Market factors (momentum, volatility) 74

Profitability 40
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 66
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Asia Network International Public Company Limited, together with its subsidiaries, engages in air freight forwarding business in Southeast Asia and China. The company operates as a cargo general sales agent for domestic and international airlines. It is also involved in freight management and ground handling businesses.

Full company description

Asia Network International Public Company Limited, together with its subsidiaries, engages in air freight forwarding business in Southeast Asia and China. The company operates as a cargo general sales agent for domestic and international airlines. It is also involved in freight management and ground handling businesses. The company was incorporated in 2009 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Asia Network International Public Company reported revenue of 7.4B THB in FY2025 versus 2.3B THB in FY2021, a compound +34.5%/yr. Reported net income was 573M THB in FY2025, compounding +51.1%/yr from FY2021.

Growth Quality 70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
7.4B THB
Latest YoY
−12.0%
Avg. growth/yr (3Y) 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.
+11.5%
Avg. growth/yr (6Y) 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.
+117.7%
Revenue +34.5%/yr
FY21 2.3B THB
FY22 5.3B THB
FY23 5.9B THB
FY24 8.4B THB
FY25 7.4B THB
Net income +51.1%/yr
FY21 110M THB
FY22 1.1B THB
FY23 803M THB
FY24 664M THB
FY25 573M THB

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Cite: Fair Value Calculator (2026). "Asia Network International Public Company Fair Value". https://www.fairvalue-calculator.com/stock/ANI

Peer Group

Integrated Freight & Logistics · 218 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 59 · Above median
Fair Value upside +79% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 10% · Top 25%
Revenue growth -1% · Below median
Dividend yield (TTM) 6.9% · Top 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/E (TTM) 9.9× · Cheaper than 75% of peers
P/B 0.68× · Cheaper than median
P/S (TTM) 0.74× · Pricier than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 5.3× · Cheaper than median

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 46
FUTURE 0 · sector 8
PAST 28 · sector 26
HEALTH 98 · sector 94
DIVIDEND 100 · sector 56

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 Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $117.72 $104.58 -11%
FedEx Corporation FDX $314.69 $347.68 +10%
Deutsche Post AG DHL €57.22 €53.18 -7%
DSV A/S DSV kr 1,660 kr 712.57 -57%
Kuehne + Nagel International AG KNIN CHF 209.90 CHF 147.92 -30%
J.B. Hunt Transport Services, Inc JBHT $291.41 $133.80 -54%
S.F. Holding 002352 ¥31.91 ¥48.64 +52%
C.H. Robinson Worldwide, Inc CHRW $193.50 $86.56 -55%
Expeditors International of Washington, Inc EXPD $172.02 $115.95 -33%
ZTO Express (Cayman) Inc 2057 HK$181.40 HK$241.93 +33%

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Frequently asked questions

Is Asia Network International Public Company (ANI) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 6.51 THB versus a price of 3.64 THB, about +79% (undervalued).
What is the fair value of ANI?
Our model-based fair value for Asia Network International Public Company is 6.51 THB (as of Jul 19, 2026), built from audited fundamentals. The current price is 3.64 THB.
What is the quality score of ANI?
Asia Network International Public Company has a Quality Score of 59/100. 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 Asia Network International Public Company (ANI)?
Asia Network International Public Company reported trailing-twelve-month revenue of about 7.4B THB (latest available figure, as of Jul 19, 2026).
What is the net profit margin of ANI?
The net profit margin of Asia Network International Public Company is about 7.4%, meaning it keeps roughly 7.4% of revenue as net income. Based on the latest reported figures.
Does Asia Network International Public Company pay a dividend?
Asia Network International Public Company currently shows a dividend yield of about 7.94% relative to its recent price (as of Jul 19, 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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