Asian Phytoceuticals Public Company Limited (APCO) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Asian Phytoceuticals Public Company Limited THB 1.39, price THB 2.52, upside -44.8%, quality 76 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 2.48 THB – 7.61 THB · fair‑value band 1.09 THB – 1.87 THB · the 2.52 THB price screens above the 1.39 THB fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Asian Phytoceuticals Public Company Limited engages in the research and development, manufacture, and distribution of healthcare and natural extracts-based beauty products in Thailand.
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Asian Phytoceuticals Public Company Limited engages in the research and development, manufacture, and distribution of healthcare and natural extracts-based beauty products in Thailand. The company offers cream and lotion products in bottles and tubes for massage to tighten the skin and reduce the desired area, and facial lotion products; and products for reverse aging, anti-aging, and longevity. It is also involved in the research on mangosteen under the project name Operation BIM. It also exports its products. The company was formerly known as Natural Cosmetics Research Co., Ltd. and changed its name to Asian Phytoceuticals Public Company Limited in July 2005. Asian Phytoceuticals Public Company Limited was founded in 1988 and is headquartered in Lamphun, Thailand.
Stock analysis
Asian Phytoceuticals Public Company Limited (APCO) currently trades at 2.52 THB, while our model-based Fair Value estimate is 1.39 THB, implying the stock looks roughly 81.3% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 1.57 THB per share, and 0 of the 24 models we run sit above the 2.52 THB price.
Bear case: the Asset-Based group reads lowest at 0.6200 THB, and 24 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 1.09 THB (bear) to 1.87 THB (bull), the price of 2.52 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 76/100 (high quality), in the Consumer Defensive sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Asian Phytoceuticals Public Company Limited reported revenue of 200M THB in FY2025 versus 223M THB in FY2021, a compound −2.7%/yr. Reported net income was 55.4M THB in FY2025, compounding −5.2%/yr from FY2021.
Key figures
Market cap 1.5B THB (≈ $45.4M) · P/E ratio 25.2 · P/S ratio 6.98 · EPS (TTM) 0.1000 THB · Dividend yield 3.6% · Net margin 27.7% · Return on equity 10.8% · Return on assets (EBIT) 11.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −14% fair-value upside, at −45%, APCO screens richer than that median.
Fair Value models
Bear 1.09 THBFair Value 1.39 THBBull 1.87 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0066 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.Evidence ⓘEvidence = 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−5.1%
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.
−7.2%
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.
−4.2%
Start year 2020 (pandemic). Over 10 years: −6.9% a year
Revenue growth 18 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.
+7.4%
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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.
−0.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.2%
Dividend (yield on the price)3.6%
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.−4% vs −7%, 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.31% → 27%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 5.7%/yr over ~10Y (margins eroding too) ⓘ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.
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).
+10.1%
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 +8.8% a year for the price.
Compare Asian Phytoceuticals Public Company Limited with another stock
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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.Household & Personal Products · 251 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside−45% · Bottom 25%
Profitability
Return on equity (TTM)11% · Above median
Return on assets6% · Above median
Net margin (TTM)30% · Top 25%
Operating margin (TTM)29% · Top 25%
Growth and dividend
Revenue growth4% · Above median
Dividend yield (TTM)3.6% · Above median
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Household & Personal Products median · lower = cheaper
P/E (TTM)25.2× · Pricier than median
P/B2.71× · Pricier than median
P/S (TTM)7.49× · Priciest 25%
P/FCF0.8× · Cheaper than median
EV/EBITDA21.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 33
FUTURE (revenue growth)18· sector 5
PAST (return on equity)43· sector 27
HEALTH (low debt)100· sector 98
DIVIDEND (yield)72· sector 55
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). "Asian Phytoceuticals Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/APCO
Frequently asked questions
Is Asian Phytoceuticals Public Company Limited (APCO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1.39 THB versus a price of 2.52 THB, about −45% upside (overvalued).
What is the fair value of APCO?
Our model-based fair value for Asian Phytoceuticals Public Company Limited is 1.39 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 2.52 THB.
What is the quality score of APCO?
Asian Phytoceuticals Public Company Limited has a Quality Score of 76/100. 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 Asian Phytoceuticals Public Company Limited (APCO)?
Our model-based price target is the fair value of 1.39 THB (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 1.09 THB, optimistic scenario 1.87 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Asian Phytoceuticals Public Company Limited stock forecast for 2026?
Our models put fair value at 1.39 THB, about −45% upside versus a price of 2.52 THB (overvalued). Cautious scenario 1.09 THB, optimistic scenario 1.87 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Asian Phytoceuticals Public Company Limited (APCO)?
Asian Phytoceuticals Public Company Limited reported trailing-twelve-month revenue of about 202M THB (latest available figure, as of Sep 24, 2026).
Does Asian Phytoceuticals Public Company Limited pay a dividend?
Asian Phytoceuticals Public Company Limited currently shows a dividend yield of about 3.61% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Asian Phytoceuticals Public Company Limited (APCO)?
For today's price to be fair in a discounted-cash-flow model, Asian Phytoceuticals Public Company Limited would have to grow free cash flow by +10.1 % 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 -4.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of APCO use?
Our models discount Asian Phytoceuticals Public Company Limited at 10.1 %: a base by market capitalisation (nano), damped by beta 0.09, 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 Asian Phytoceuticals Public Company Limited that is +10.1 % per year a year over ten years, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Asian Phytoceuticals Public Company Limited (APCO) delivered so far?
Over the past 5 years revenue at Asian Phytoceuticals Public Company Limited grew -4.2 % a year. The price currently implies +10.1 % per year free-cash-flow growth a 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 Asian Phytoceuticals Public Company Limited (APCO) growing?
The median revenue growth in the sector is +2.9 % a year. That is the yardstick for the growth priced into Asian Phytoceuticals Public Company Limited (+10.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Asian Phytoceuticals Public Company Limited (APCO)?
The free-cash-flow yield on the price is 3.92 %: that much free cash flow Asian Phytoceuticals 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 Asian Phytoceuticals Public Company Limited (APCO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Asian Phytoceuticals Public Company Limited it is 1.39 THB per share (as of Sep 24, 2026), against a price of 2.52 THB. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Asian Phytoceuticals Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, APCO trades above its calculated fair value: price 2.52 THB, fair value 1.39 THB, a gap of about −45% (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 APCO?
No. The price is what the market pays today (2.52 THB); the fair value is what the company's own numbers justify (1.39 THB). For Asian Phytoceuticals Public Company Limited the two are 1.13 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Asian Phytoceuticals Public Company Limited worth?
The market values Asian Phytoceuticals Public Company Limited at about 1.5B THB (market capitalisation, as of Sep 24, 2026). Per share that is 2.52 THB; our models calculate a fair value of 1.39 THB per share.
What do the bullish and bearish scenarios say about APCO?
Our models span a range for Asian Phytoceuticals Public Company Limited: cautious scenario 1.09 THB, base 1.39 THB, optimistic 1.87 THB per share (as of Sep 24, 2026, price 2.52 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of APCO?
Asian Phytoceuticals Public Company Limited trades at a price-to-earnings ratio of 25.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.39 THB is built from several models across several years. Other multiples: P/B 2.7, P/S 7.5, EV/EBITDA 21.8.
How solid is the balance sheet of Asian Phytoceuticals Public Company Limited (APCO)?
Balance-sheet figures for Asian Phytoceuticals Public Company Limited (as of Sep 24, 2026): return on equity 10.8%, debt of 0.00 per unit of equity. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is APCO from its 52-week high?
Asian Phytoceuticals Public Company Limited trades at 2.52 THB, about 21% below its 52-week high of 3.21 THB and at the low of 2.52 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 1.39 THB is for.
Which stocks are comparable to Asian Phytoceuticals Public Company Limited?
From the same area (Consumer Defensive) we also value Colgate-Palmolive Company, Hindustan Unilever Limited, Kenvue Inc, Kimberly-Clark 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 Asian Phytoceuticals Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 2.52 THB, calculated fair value 1.39 THB (−45%), Quality Score 76/100, from 24 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 APCO calculated?
We run Asian Phytoceuticals Public Company Limited through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 1.39 THB, 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 13.0 % above its aggregate fair value. Asian Phytoceuticals 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 Asian Phytoceuticals Public Company Limited (APCO)?
The closing price on Sep 24, 2026 was 2.52 THB. Our model-based fair value is 1.39 THB, about −45% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Asian Phytoceuticals Public Company Limited right now?
A high-quality business (quality 76/100), 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 (1.87 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.
Where does the earnings growth of Asian Phytoceuticals Public Company Limited (APCO) come from?
Earnings per share at Asian Phytoceuticals Public Company Limited grew +9.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.9 %, EBIT margin −1.0 %, tax rate +0.2 %, residual (interest, one-offs) +2.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Asian Phytoceuticals Public Company Limited
How large is the market capitalisation of Asian Phytoceuticals Public Company Limited (APCO)?
The market capitalisation of Asian Phytoceuticals Public Company Limited is 1.5B THB (≈ $45.4M). 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 Asian Phytoceuticals Public Company Limited (APCO)?
The price-to-sales ratio of Asian Phytoceuticals Public Company Limited is 6.98 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Asian Phytoceuticals Public Company Limited (APCO)?
Earnings per share at Asian Phytoceuticals Public Company Limited are 0.1000 THB (price ÷ EPS = P/E 25.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Asian Phytoceuticals Public Company Limited (APCO)?
The dividend yield of Asian Phytoceuticals Public Company Limited is 3.6% (payout 91.0%). 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 Asian Phytoceuticals Public Company Limited (APCO)?
The net margin of Asian Phytoceuticals Public Company Limited is 27.7% (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 Asian Phytoceuticals Public Company Limited (APCO)?
The return on equity (ROE) of Asian Phytoceuticals Public Company Limited is 10.8% (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 Asian Phytoceuticals Public Company Limited (APCO)?
On an EBIT basis the return on assets of Asian Phytoceuticals Public Company Limited is 11.4% (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 Asian Phytoceuticals Public Company Limited (APCO)?
The operating margin of Asian Phytoceuticals Public Company Limited is 29.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Asian Phytoceuticals Public Company Limited (APCO)?
Revenue at Asian Phytoceuticals Public Company Limited is growing +3.6% versus a year earlier (3y avg −7.2%). 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 Asian Phytoceuticals Public Company Limited (APCO)?
Earnings per share at Asian Phytoceuticals Public Company Limited are growing +50.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Asian Phytoceuticals Public Company Limited (APCO) hold?
Asian Phytoceuticals Public Company Limited holds more cash than debt, 87.1M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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