ASN Broker Public Company Limited (ASN) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of ASN Broker Public Company Limited stock THB 1.00, price THB 0.97, upside +3.1%, quality 63 out of 100. Rating: fairly valued. 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. As of Oct 31, 2026.
How to read this chart
60‑month range 0.6400 THB – 6.59 THB · fair‑value band 0.7500 THB – 1.25 THB · the 0.9700 THB price screens below the 1.00 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Oct 31, 2026.
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ASN Broker Public Company Limited, together with its subsidiaries, provides insurance brokerage services in Thailand. It operates through three segments: Insurance Broker, Loan, and Peer-to-Peer Lending Platform Service.
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The company offers non-life insurance, auto insurance, life insurance, accident insurance, and health insurance; hire-purchase loan services; vehicle registration loan services; and personal loans services. ASN Broker Public Company Limited was founded in 2005 and is based in Bangkok, Thailand.
Stock analysis
ASN Broker Public Company Limited (ASN) currently trades at 0.9700 THB, while our model-based Fair Value estimate is 1.00 THB, so the stock looks roughly fairly valued today (gap 3.0%).
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Valuation
Bull case: the Asset-Based group reads highest at a median of 0.9500 THB per share, and 1 of the 4 models we run sit above the 0.9700 THB price.
Bear case: the Economic Profit group reads lowest at 0.8600 THB, and 3 of the 4 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.7500 THB (bear) to 1.25 THB (bull), the price of 0.9700 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 63/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
ASN Broker Public Company Limited reported revenue of 159M THB in FY2025 versus 150M THB in FY2021, a compound +1.5%/yr. Reported net income was 168K THB in FY2025, compounding −68.1%/yr from FY2021.
Key figures
Market cap 182M THB (≈ $5.4M) Micro · P/S ratio 1.16 · Net margin 0.5% · Return on equity 0.3% · Return on assets (EBIT) 4.2% · Operating margin 3.5% · Revenue (TTM) 157M THB · Revenue growth (YoY) −8.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 52% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −55% fair-value upside, at 3%, ASN screens cheaper than that median.
Fair Value models
Bear0.7500 THBFair Value 1.00 THBBull1.25 THB
Price 0.9700 THB · Upside +3.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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 growth is weak: less than 2 % a year.
Revenue growth 1 year
−5.2%
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.
+1.6%
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.
+1.8%
Start year 2020 (pandemic). Over 10 years: −0.1% a year
Revenue growth 13 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.
+3.5%
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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. Basis: EBIT basis. 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.
−9.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.9%
Dividend (yield on the price)0.0%
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.−59.9% vs −40.5%, slowing
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.14% → 11%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 28.8%/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
Little optimism in the price
The price assumes less 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).
−10.7%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −11.7% a year for the price.
Compare ASN Broker 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.Insurance Brokers · 40 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Above median
Fair Value upside+3.1% · Top 25%
Profitability
Return on equity (12 months)0.3% · Bottom 25%
Return on assets0.0% · Bottom 25%
Net margin (12 months)0.5% · Bottom 25%
Operating margin (12 months)3.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−8.6% · Bottom 25%
Balance sheet
Debt / equity0.58× · Above median
Valuation Multiplesvs Insurance Brokers 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). "ASN Broker Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/ASN
Frequently asked questions
Is ASN Broker Public Company Limited (ASN) overvalued or undervalued?
As of Oct 31, 2026, our model estimates a fair value of 1.00 THB versus a price of 0.9700 THB, about +3% upside (fairly valued).
What is the fair value of ASN?
Our model-based fair value for ASN Broker Public Company Limited is 1.00 THB (as of Oct 31, 2026), built from audited fundamentals. The current price: 0.9700 THB.
What is the quality score of ASN?
ASN Broker Public Company Limited has a Quality Score of 63/100. 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 ASN Broker Public Company Limited (ASN)?
Our model-based price target is the fair value of 1.00 THB (as of Oct 31, 2026) from 4 valuation models. Cautious scenario 0.7500 THB, optimistic scenario 1.25 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the ASN Broker Public Company Limited stock forecast for 2026?
Our models put fair value at 1.00 THB, about +3% upside versus a price of 0.9700 THB (fairly valued). Cautious scenario 0.7500 THB, optimistic scenario 1.25 THB. The calculation is refreshed regularly with new filings.
What is the revenue of ASN Broker Public Company Limited (ASN)?
ASN Broker Public Company Limited reported trailing-twelve-month revenue of about 157M THB (latest available figure, as of Oct 31, 2026).
What growth is priced into ASN Broker Public Company Limited (ASN)?
For today's price to be fair in a discounted-cash-flow model, ASN Broker Public Company Limited would have to grow free cash flow by -10.7 % 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 +1.8 % per year. As of Oct 31, 2026.
What discount rate (WACC) does the fair value of ASN use?
Our models discount ASN Broker 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 ASN Broker Public Company Limited that is -10.7 % 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 ASN Broker Public Company Limited (ASN) delivered so far?
Over the past 5 years revenue at ASN Broker Public Company Limited grew +1.8 % a year. The price currently implies -10.7 % 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 ASN Broker Public Company Limited (ASN) growing?
The median revenue growth in the sector is +8.9 % a year. That is the yardstick for the growth priced into ASN Broker Public Company Limited (-10.7 % 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 ASN Broker Public Company Limited (ASN)?
The free-cash-flow yield on the price is 29.90 %: that much free cash flow ASN Broker 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 ASN Broker Public Company Limited (ASN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ASN Broker Public Company Limited it is 1.00 THB per share (as of Oct 31, 2026), against a price of 0.9700 THB. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is ASN Broker Public Company Limited stock overvalued or undervalued in 2026?
As of Oct 31, 2026, ASN trades below its calculated fair value: price 0.9700 THB, fair value 1.00 THB, a gap of about +3% (fairly valued). 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 ASN?
No. The price is what the market pays today (0.9700 THB); the fair value is what the company's own numbers justify (1.00 THB). For ASN Broker Public Company Limited the two are 0.0300 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is ASN Broker Public Company Limited worth?
The market values ASN Broker Public Company Limited at about 182M THB (market capitalisation, as of Oct 31, 2026). Per share that is 0.9700 THB; our models calculate a fair value of 1.00 THB per share.
What do the bullish and bearish scenarios say about ASN?
Our models span a range for ASN Broker Public Company Limited: cautious scenario 0.7500 THB, base 1.00 THB, optimistic 1.25 THB per share (as of Oct 31, 2026, price 0.9700 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of ASN Broker Public Company Limited (ASN)?
Balance-sheet figures for ASN Broker Public Company Limited (as of Oct 31, 2026): return on equity 0.3%, debt of 0.58 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is ASN from its 52-week high?
ASN Broker Public Company Limited trades at 0.9700 THB, about 11% below its 52-week high of 1.09 THB and 52% above the low of 0.6400 THB (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of 1.00 THB is for.
Which stocks are comparable to ASN Broker Public Company Limited?
From the same area (Financial Services) we also value Marsh & McLennan Companies, Inc, Arthur J. Gallagher & Co, Aon plc, Willis Towers Watson Public Limited, 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 ASN Broker Public Company Limited stock attractive at the current price?
The data as of Oct 31, 2026: price 0.9700 THB, calculated fair value 1.00 THB (+3%), Quality Score 63/100, from 4 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 ASN calculated?
We run ASN Broker Public Company Limited through 4 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 1.00 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 13.4 % above its aggregate fair value. ASN Broker Public Company Limited currently trades 3 % 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 ASN Broker Public Company Limited (ASN)?
The closing price on Oct 30, 2026 was 0.9700 THB. Our model-based fair value is 1.00 THB, about +3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ASN Broker Public Company Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of ASN Broker Public Company Limited
How large is the market capitalisation of ASN Broker Public Company Limited (ASN)?
The market capitalisation of ASN Broker Public Company Limited is 182M THB (≈ $5.4M). 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 ASN Broker Public Company Limited (ASN)?
The price-to-sales ratio of ASN Broker Public Company Limited is 1.16 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of ASN Broker Public Company Limited (ASN)?
The net margin of ASN Broker Public Company Limited is 0.5% (last twelve months). 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 ASN Broker Public Company Limited (ASN)?
The return on equity (ROE) of ASN Broker Public Company Limited is 0.3% (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 ASN Broker Public Company Limited (ASN)?
On an EBIT basis the return on assets of ASN Broker Public Company Limited is 4.2% (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 ASN Broker Public Company Limited (ASN)?
The operating margin of ASN Broker Public Company Limited is 3.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ASN Broker Public Company Limited (ASN)?
Revenue at ASN Broker Public Company Limited is growing −8.6% versus a year earlier (3y avg +1.6%). 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 ASN Broker Public Company Limited (ASN)?
Earnings per share at ASN Broker Public Company Limited are growing +21.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ASN Broker Public Company Limited (ASN) carry?
The net debt of ASN Broker Public Company Limited is 125M THB (fiscal year 2025, ≈ 2.3 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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Thin data
Oct 31, 2026