Aqua Corporation Public Company Limited (AQUA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Aqua Corporation Public Company Limited THB 0.25, price THB 0.11, upside +127.3%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Aqua Corporation Public Company Limited provides real estate and warehouse rental services in Thailand. The company operates through Investment in Other Companies; Property for Rent and Service; Restaurant Business; and Health Rehabilitation Facility segments. It also engages in the restaurant business; and provision of transportation services.
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Aqua Corporation Public Company Limited provides real estate and warehouse rental services in Thailand. The company operates through Investment in Other Companies; Property for Rent and Service; Restaurant Business; and Health Rehabilitation Facility segments. It also engages in the restaurant business; and provision of transportation services. In addition, the company invests in other companies and the restaurant business. The company was formerly known as P Plus P Public Company Limited and changed its name to Aqua Corporation Public Company Limited in April 2012. Aqua Corporation Public Company Limited was founded in 1994 and is headquartered in Bangkok, Thailand.
Stock analysis
Aqua Corporation Public Company Limited (AQUA) currently trades at 0.1100 THB, while our model-based Fair Value estimate is 0.2500 THB, implying the stock looks roughly 56.0% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 0.4800 THB per share, and 4 of the 6 models we run sit above the 0.1100 THB price.
Bear case: the Growth DCF group reads lowest at 0.0700 THB, and 2 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.1000 THB (bear) to 0.3900 THB (bull), the price of 0.1100 THB sits inside 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 45/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Aqua Corporation Public Company Limited reported revenue of 1.0B THB in FY2025 versus 807M THB in FY2021, a compound +5.6%/yr. Reported net income was −1.1B THB in FY2025.
Key figures
Market cap 628M THB (≈ $18.8M) · P/S ratio 0.46 · EPS (TTM) −0.1600 THB · Net margin −108% · Return on equity −20.2% · Return on assets (EBIT) 1.3% · Operating margin 3.2% · Revenue (TTM) 1.4B THB.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −22% fair-value upside, at 127%, AQUA screens cheaper than that median.
Fair Value models
Bear 0.1000 THBFair Value 0.2500 THBBull 0.3900 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.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.34/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+11.0%
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.
+46.3%
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.
+2.2%
Start year 2020 (pandemic). Over 10 years: +6.0% a year
Revenue growth 22 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.
+0.5%
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Profit margin (trend) ⓘ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.
61.2% (2020) → 4.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
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).
+41.6%
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 +40.0% a year for the price.
Compare Aqua Corporation 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.Restaurants · 226 stocks
Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside+127% · Top 25%
Profitability
Return on assets1% · Below median
Net margin (TTM)−69% · Bottom 25%
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth368% · Top 25%
Balance sheet
Debt / equity0.36× · Above median
Valuation Multiplesvs Restaurants 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). "Aqua Corporation Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/AQUA
Frequently asked questions
Is Aqua Corporation Public Company Limited (AQUA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.2500 THB versus a price of 0.1100 THB, about +127% upside (undervalued).
What is the fair value of AQUA?
Our model-based fair value for Aqua Corporation Public Company Limited is 0.2500 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.1100 THB.
What is the quality score of AQUA?
Aqua Corporation Public Company Limited has a Quality Score of 45/100. 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 Aqua Corporation Public Company Limited (AQUA)?
Our model-based price target is the fair value of 0.2500 THB (as of Sep 24, 2026) from 9 valuation models. Cautious scenario 0.1000 THB, optimistic scenario 0.3900 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Aqua Corporation Public Company Limited stock forecast for 2026?
Our models put fair value at 0.2500 THB, about +127% upside versus a price of 0.1100 THB (undervalued). Cautious scenario 0.1000 THB, optimistic scenario 0.3900 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Aqua Corporation Public Company Limited (AQUA)?
Aqua Corporation Public Company Limited reported trailing-twelve-month revenue of about 1.4B THB (latest available figure, as of Sep 24, 2026).
What growth is priced into Aqua Corporation Public Company Limited (AQUA)?
For today's price to be fair in a discounted-cash-flow model, Aqua Corporation Public Company Limited would have to grow free cash flow by +41.6 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of AQUA use?
Our models discount Aqua Corporation Public Company Limited at 11.6 %: a base by market capitalisation (nano), 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 Aqua Corporation Public Company Limited that is +41.6 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Aqua Corporation Public Company Limited (AQUA) delivered so far?
Over the past 5 years revenue at Aqua Corporation Public Company Limited grew +2.2 % a year. The price currently implies +41.6 % 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 Aqua Corporation Public Company Limited (AQUA) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Aqua Corporation Public Company Limited (+41.6 % 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 Aqua Corporation Public Company Limited (AQUA)?
The free-cash-flow yield on the price is 4.44 %: that much free cash flow Aqua Corporation Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Aqua Corporation Public Company Limited (AQUA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aqua Corporation Public Company Limited it is 0.2500 THB per share (as of Sep 24, 2026), against a price of 0.1100 THB. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Aqua Corporation Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, AQUA trades below its calculated fair value: price 0.1100 THB, fair value 0.2500 THB, a gap of about +127% (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 AQUA?
No. The price is what the market pays today (0.1100 THB); the fair value is what the company's own numbers justify (0.2500 THB). For Aqua Corporation Public Company Limited the two are 0.1400 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Aqua Corporation Public Company Limited worth?
The market values Aqua Corporation Public Company Limited at about 628M THB (market capitalisation, as of Sep 24, 2026). Per share that is 0.1100 THB; our models calculate a fair value of 0.2500 THB per share.
What do the bullish and bearish scenarios say about AQUA?
Our models span a range for Aqua Corporation Public Company Limited: cautious scenario 0.1000 THB, base 0.2500 THB, optimistic 0.3900 THB per share (as of Sep 24, 2026, price 0.1100 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Aqua Corporation Public Company Limited (AQUA)?
Balance-sheet figures for Aqua Corporation Public Company Limited (as of Sep 24, 2026): return on equity −20.2%, debt of 0.36 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is AQUA from its 52-week high?
Aqua Corporation Public Company Limited trades at 0.1100 THB, about 35% below its 52-week high of 0.1700 THB and 22% above the low of 0.0900 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.2500 THB is for.
Which stocks are comparable to Aqua Corporation Public Company Limited?
From the same area (Consumer Cyclical) we also value McDonald's Corporation, Starbucks Corporation, Chipotle Mexican Grill, Inc, Yum! Brands, Inc, 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 Aqua Corporation Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 0.1100 THB, calculated fair value 0.2500 THB (+127%), Quality Score 45/100, from 9 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 AQUA calculated?
We run Aqua Corporation Public Company Limited through 9 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 0.2500 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. Aqua Corporation Public Company Limited currently trades 127 % 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 Aqua Corporation Public Company Limited (AQUA)?
The closing price on Sep 24, 2026 was 0.1100 THB. Our model-based fair value is 0.2500 THB, about +127% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aqua Corporation Public Company Limited right now?
The model range is unusually wide (0.1000 THB to 0.3900 THB). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 (45/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Aqua Corporation Public Company Limited
How large is the market capitalisation of Aqua Corporation Public Company Limited (AQUA)?
The market capitalisation of Aqua Corporation Public Company Limited is 628M THB (≈ $18.8M). 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 Aqua Corporation Public Company Limited (AQUA)?
The price-to-sales ratio of Aqua Corporation Public Company Limited is 0.46 (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 Aqua Corporation Public Company Limited (AQUA)?
Earnings per share at Aqua Corporation Public Company Limited are −0.1600 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Aqua Corporation Public Company Limited (AQUA)?
The net margin of Aqua Corporation Public Company Limited is −108% (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 Aqua Corporation Public Company Limited (AQUA)?
The return on equity (ROE) of Aqua Corporation Public Company Limited is −20.2% (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 Aqua Corporation Public Company Limited (AQUA)?
On an EBIT basis the return on assets of Aqua Corporation Public Company Limited is 1.3% (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 Aqua Corporation Public Company Limited (AQUA)?
The operating margin of Aqua Corporation Public Company Limited is 3.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aqua Corporation Public Company Limited (AQUA)?
Revenue at Aqua Corporation Public Company Limited is growing +368% versus a year earlier (3y avg +46.3%). 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 Aqua Corporation Public Company Limited (AQUA)?
Earnings per share at Aqua Corporation Public Company Limited are growing −91.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Aqua Corporation Public Company Limited (AQUA) carry?
The net debt of Aqua Corporation Public Company Limited is 1.9B THB (fiscal year 2025, ≈ 66.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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