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Asian Sea Corporation (ASIAN) Fair Value & Analysis

Consumer Defensive · TH · Market cap 5.9B THB

AS Asian Sea Corporation ASIAN · BK
Price7.30 THB
Fair Value13.81 THB
Upside+89.2%
Quality62/100
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Mixed Growth
Thin margins · 5.7% net margin
Low debt · generates free cash flow
9.30% dividend yield
Ranks above peers (13/15)
Narrow moat 43/100
Evidence: Medium Range 9.67 THB – 17.95 THB Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 27 days ago

Share price +0.7% over the past month.

A solid business, screening 89% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (9.67 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (9.67 THB to 17.95 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

15.54 THB 4.66 THB Fair Value 13.81 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 4.66 THB – 15.54 THB · fair‑value band 9.67 THB – 17.95 THB · the 7.30 THB price screens below the 13.81 THB fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Asian Sea Corporation (ASIAN) currently trades at 7.30 THB, while our model-based Fair Value estimate is 13.81 THB, implying the stock looks roughly 89.2% undervalued today. The Quality Score stands at 62/100 (solid 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, Asian Sea Corporation generated revenue of 10.6B THB at a net margin of 5.7%. Revenue declined 10.2% year over year. It earns a return on equity of 9.7%. The balance sheet holds a net cash position of 120M THB. Fundamentals as of Jul 14, 2026

Our scenario range runs from 9.67 THB (bear case) to 17.95 THB (bull case); at 7.30 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 8% below its 52-week high and 21% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at 89%, ASIAN 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 6.12 THB 8.22 THB 10.96 THB 80
Residual Income 6.94 THB 7.72 THB 10.87 THB 76
Rev-Margin DCF 7.65 THB 11.86 THB 16.28 THB 74
All 24 models by family
DCF Models
FCF DCF 5.95 THB 8.17 THB 11.20 THB 38
Owner Earnings 6.41 THB 8.80 THB 12.07 THB 31
5Y Revenue Exit 7.65 THB 11.80 THB 16.93 THB 39
5Y EBITDA Exit 10.37 THB 16.55 THB 23.46 THB 41
5Y P/E Exit 9.41 THB 14.87 THB 20.28 THB 38
10Y Revenue Exit 6.68 THB 10.18 THB 14.41 THB 36
10Y EBITDA Exit 8.58 THB 13.28 THB 18.96 THB 37
10Y P/E Exit 7.99 THB 12.18 THB 16.74 THB 35
Earnings-Based
Graham-Dodd 5.71 THB 11.78 THB 14.87 THB 54
EPV 8.18 THB 9.47 THB 10.58 THB 59
Dividend Discount
Gordon GGM 11.93 THB 17.31 THB 22.74 THB 70
DDM Multi-Stage 11.93 THB 16.68 THB 21.91 THB 61
Multiples
P/E Multiple 13.23 THB 17.64 THB 22.05 THB 63
P/S Multiple 10.71 THB 14.28 THB 17.85 THB 58
P/B Multiple 10.71 THB 14.28 THB 17.85 THB 55
EV/EBIT 13.07 THB 17.41 THB 21.75 THB 53
EV/EBITDA 15.07 THB 20.08 THB 25.09 THB 54
EV/Revenue 9.34 THB 13.32 THB 17.31 THB 43
Asset-Based
NCAV (Graham) 3.89 THB 5.22 THB 7.78 THB 50
Growth DCF
Growth DCF 6.12 THB 8.22 THB 10.96 THB 80
Rev-Margin DCF 7.65 THB 11.86 THB 16.28 THB 74
Economic Profit
Residual Income 6.94 THB 7.72 THB 10.87 THB 76
ROIC Compounder 8.23 THB 9.84 THB 11.57 THB 72
Growth Earnings
Growth-Adj P/E 9.67 THB 13.81 THB 17.95 THB 68

Widest divergence: Dividend Discount (16.68 THB) versus Asset-Based (5.22 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 10.6B THB
Revenue growth (YoY) -10.2%
Net margin 5.7%
Return on equity 9.7%
Free cash flow 484M THB FY2025
P/E ratio 9.7
More key figures
Operating margin 5.7%
EPS (TTM) 0.7500 THB
Dividend yield 9.3%
EPS growth (YoY) -38.0%
Net cash 120M THB FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 61 · Market factors (momentum, volatility) 63

Profitability 51
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 84
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

Asian Sea Corporation Public Company Limited, together with its subsidiaries, engages in the production and distribution of processed frozen seafood. The company operates through three segments: Frozen and Packaged Food Products, Feedstuff, and Other Business.

Full company description

Asian Sea Corporation Public Company Limited, together with its subsidiaries, engages in the production and distribution of processed frozen seafood. The company operates through three segments: Frozen and Packaged Food Products, Feedstuff, and Other Business. It offers wet pet food products, such as soups, salads, fish and meat dishes, mousse, and pate; frozen food, including shrimp, squid, Sillago fish, octopus, and cuttle fish; aquaculture feed products; canned and pouch tuna products; and dry feed products for pets. The company is also involved in the provision of cold storage services; production of packaged seafoods, and fishmeal; and provision of marketing and management services, as well as invests in other businesses. It offers its products under the Monchou, Monchou Balanced, and Hajiko brand names. The company operates in Thailand, the United States, the United Kingdom, Italy, Japan, and internationally. Asian Sea Corporation Public Company Limited was founded in 1964 and is headquartered in Mueang Samut Sakhon, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Asian Sea Corporation reported revenue of 10.8B THB in FY2025 versus 9.5B THB in FY2021, a compound +3.2%/yr. Reported net income was 682M THB in FY2025, compounding −10.1%/yr from FY2021.

Growth Quality 57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
10.8B THB
Latest YoY
−0.1%
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.
−1.2%
Avg. growth/yr (5Y) 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.
+4.5%
Avg. growth/yr (25Y) 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.
+4.0%
Revenue +3.2%/yr
FY21 9.5B THB
FY22 11.2B THB
FY23 9.6B THB
FY24 10.8B THB
FY25 10.8B THB
Net income −10.1%/yr
FY21 1.0B THB
FY22 979M THB
FY23 303M THB
FY24 848M THB
FY25 682M THB
Character of growth · EPS growth decomposed (2015-2025) +16.4 % p.a.
Revenue per share +2.3 pp

of which total revenue +2.3 pp · buybacks/dilution +0.1 pp

EBIT margin +13.8 pp
Tax rate −2.2 pp
Residual (interest, one-offs) +2.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Asian Sea Corporation Fair Value". https://www.fairvalue-calculator.com/stock/ASIAN

Peer Group

Packaged Foods · 649 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 62 · Top 25%
Fair Value upside +89% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth -10% · Bottom 25%
Dividend yield (TTM) 9.3% · Top 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 9.7× · Cheaper than 75% of peers
P/B 0.93× · Cheaper than median
P/S (TTM) 0.56× · Cheaper than median
P/FCF 0.4× · Cheaper than median
EV/EBITDA 4.9× · Cheaper than 75% of peers
PEG 2.63× · Pricier 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 20
PAST 39 · sector 27
HEALTH 99 · sector 96
DIVIDEND 100 · sector 47

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 Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Asian Sea Corporation (ASIAN) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 13.81 THB versus a price of 7.30 THB, about +89% (undervalued).
What is the fair value of ASIAN?
Our model-based fair value for Asian Sea Corporation is 13.81 THB (as of Jul 14, 2026), built from audited fundamentals. The current price is 7.30 THB.
What is the quality score of ASIAN?
Asian Sea Corporation has a Quality Score of 62/100. 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 Asian Sea Corporation (ASIAN)?
Asian Sea Corporation reported trailing-twelve-month revenue of about 10.6B THB (latest available figure, as of Jul 14, 2026).
What is the net profit margin of ASIAN?
The net profit margin of Asian Sea Corporation is about 5.7%, meaning it keeps roughly 5.7% of revenue as net income. Based on the latest reported figures.
Does Asian Sea Corporation pay a dividend?
Asian Sea Corporation currently shows a dividend yield of about 9.63% relative to its recent price (as of Jul 14, 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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