BEC World PCL (BECVY) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of BEC World PCL $0.66, price $0.53, upside +24.5%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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BEC World Public Company Limited, together with its subsidiaries, engages in the entertainment and recreation business in Thailand. The company offers content on various platforms, such as television and digital platforms, global content licensing, and supporting business.
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BEC World Public Company Limited, together with its subsidiaries, engages in the entertainment and recreation business in Thailand. The company offers content on various platforms, such as television and digital platforms, global content licensing, and supporting business. It also provides and produces TV programs and sells airtime, artist management, including management services; studio management, creative and scriptwriter development, production process, and post-production and CG services; sells airtime for advertising; and operates a television channel. In addition, the company acts as an agent for selling drama rights; provides editing and studio services; and invests in digital platform businesses, as well as engages in global content licensing business. Further, it operates a digital TV business and an event and show organization. BEC World Public Company Limited was founded in 1967 and is headquartered in Bangkok, Thailand.
Stock analysis
BEC World PCL ADR (BECVY) currently trades at $0.5300, while our model-based Fair Value estimate is $0.6600, implying the stock looks roughly 19.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $1.64 per share, and 16 of the 22 models we run sit above the $0.5300 price.
Bear case: the Earnings-Based group reads lowest at $0.2494, and 6 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.6400 (bear) to $0.8100 (bull), the price of $0.5300 sits below 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 65/100 (solid quality), in the Communication Services sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
BEC World PCL ADR reported revenue of 3.8B THB in FY2025 versus 5.7B THB in FY2021, a compound −9.6%/yr. Reported net income was 197M THB in FY2025, compounding −28.7%/yr from FY2021.
Key figures
Market cap $119M · P/E ratio 53.0 · P/S ratio 2.74 · EPS (TTM) $0.0100 · Dividend yield 4.6% · Net margin 5.2% · Return on equity 3.2% · Return on assets (EBIT) 5.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 75% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 43% fair-value upside, at 25%, BECVY screens richer than that median.
Fair Value models
Bear $0.6400Fair Value $0.6600Bull $0.8100
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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
−9.4%
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.
−12.5%
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.
−1.2%
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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.
−19.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−23.7%
Dividend (yield on the price)4.6%
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.−24% vs −24%, 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.−2% → 7%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 12.5%/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
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).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+13.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in THB, Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +12.4% a year for the forecasts.
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.Broadcasting · 67 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+25% · Above median
Profitability
Return on equity (TTM)3% · Above median
Return on assets2% · Above median
Net margin (TTM)5% · Above median
Operating margin (TTM)7% · Above median
Growth and dividend
Revenue growth−16% · Bottom 25%
Dividend yield (TTM)4.6% · Below median
Balance sheet
Debt / equity0.12× · Below median
Valuation Multiplesvs Broadcasting 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). "BEC World PCL ADR Fair Value". https://www.fairvalue-calculator.com/stock/BECVY
Frequently asked questions
Is BEC World PCL (BECVY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.6600 versus a price of $0.5300, about +25% upside (undervalued).
What is the fair value of BECVY?
Our model-based fair value for BEC World PCL ADR is $0.6600 (as of Sep 24, 2026), built from audited fundamentals. The current price: $0.5300.
What is the quality score of BECVY?
BEC World PCL ADR has a Quality Score of 65/100. 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 BEC World PCL (BECVY)?
Our model-based price target is the fair value of $0.6600 (as of Sep 24, 2026) from 22 valuation models. Cautious scenario $0.6400, optimistic scenario $0.8100. It is a calculation from audited fundamentals, not an analyst target.
What is the BEC World PCL ADR stock forecast for 2026?
Our models put fair value at $0.6600, about +25% upside versus a price of $0.5300 (undervalued). Cautious scenario $0.6400, optimistic scenario $0.8100. The calculation is refreshed regularly with new filings.
What is the revenue of BEC World PCL (BECVY)?
BEC World PCL ADR reported trailing-twelve-month revenue of about 3.8B THB (latest available figure, as of Sep 24, 2026).
Does BEC World PCL ADR pay a dividend?
BEC World PCL ADR currently shows a dividend yield of about 4.63% relative to its recent price (as of Sep 24, 2026).
What growth is priced into BEC World PCL (BECVY)?
For today's price to be fair in a discounted-cash-flow model, BEC World PCL ADR would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -8.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BECVY use?
Our models discount BEC World PCL ADR at 11.2 %: a base by market capitalisation (micro), damped by beta 0.38, country premium for USA. 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 BEC World PCL ADR that is less than minus 40 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has BEC World PCL (BECVY) delivered so far?
Over the past 5 years revenue at BEC World PCL ADR grew -8.2 % a year. The price currently implies less than minus 40 % 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 BEC World PCL (BECVY) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into BEC World PCL ADR (less than minus 40 % 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 BEC World PCL (BECVY)?
The free-cash-flow yield on the price is 41.31 %: that much free cash flow BEC World PCL ADR produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of BEC World PCL (BECVY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BEC World PCL ADR it is $0.6600 per share (as of Sep 24, 2026), against a price of $0.5300. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is BEC World PCL ADR stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BECVY trades below its calculated fair value: price $0.5300, fair value $0.6600, a gap of about +25% (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 BECVY?
No. The price is what the market pays today ($0.5300); the fair value is what the company's own numbers justify ($0.6600). For BEC World PCL ADR the two are $0.1300 per share apart. That gap is exactly why we show both numbers side by side.
How much is BEC World PCL ADR worth?
The market values BEC World PCL ADR at about $119M (market capitalisation, as of Sep 24, 2026). Per share that is $0.5300; our models calculate a fair value of $0.6600 per share.
What do the bullish and bearish scenarios say about BECVY?
Our models span a range for BEC World PCL ADR: cautious scenario $0.6400, base $0.6600, optimistic $0.8100 per share (as of Sep 24, 2026, price $0.5300). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BECVY?
BEC World PCL ADR trades at a price-to-earnings ratio of 53.0 (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 $0.6600 is built from several models across several years. Other multiples: P/B 0.7, P/S 1.0, EV/EBITDA 9.1.
How solid is the balance sheet of BEC World PCL (BECVY)?
Balance-sheet figures for BEC World PCL ADR (as of Sep 24, 2026): return on equity 3.2%, debt of 0.12 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is BECVY from its 52-week high?
BEC World PCL ADR trades at $0.5300, about 75% below its 52-week high of $2.11 and 4% above the low of $0.5117 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $0.6600 is for.
Which stocks are comparable to BEC World PCL ADR?
From the same area (Communication Services) we also value Nexstar Media Group, SES S.A, PT Elang Mahkota Teknologi Tbk, through its subsidiaries,, MFE-Mediaforeurope N.V, 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 BEC World PCL ADR stock attractive at the current price?
The data as of Sep 24, 2026: price $0.5300, calculated fair value $0.6600 (+25%), Quality Score 65/100, from 22 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 BECVY calculated?
We run BEC World PCL ADR through 22 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 $0.6600, 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 14.1 % above its aggregate fair value. BEC World PCL ADR currently trades 25 % 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 BEC World PCL (BECVY)?
The closing price on Sep 18, 2026 was $0.5300. Our model-based fair value is $0.6600, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BEC World PCL ADR right now?
The price is below even our cautious bear case ($0.6400). The market is more pessimistic than our downside scenario. Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of BEC World PCL (BECVY) come from?
Earnings per share at BEC World PCL ADR grew −27.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share −12.9 %, EBIT margin −14.7 %, tax rate −2.7 %, residual (interest, one-offs) +1.0 %. 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 BEC World PCL ADR
How large is the market capitalisation of BEC World PCL (BECVY)?
The market capitalisation of BEC World PCL ADR is $119M. 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 BEC World PCL (BECVY)?
The price-to-sales ratio of BEC World PCL ADR is 2.74 (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 BEC World PCL (BECVY)?
Earnings per share at BEC World PCL ADR are $0.0100 (price ÷ EPS = P/E 53.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BEC World PCL (BECVY)?
The dividend yield of BEC World PCL ADR is 4.6%. 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 BEC World PCL (BECVY)?
The net margin of BEC World PCL ADR is 5.2% (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 BEC World PCL (BECVY)?
The return on equity (ROE) of BEC World PCL ADR is 3.2% (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 BEC World PCL (BECVY)?
On an EBIT basis the return on assets of BEC World PCL ADR is 5.5% (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 BEC World PCL (BECVY)?
The operating margin of BEC World PCL ADR is 6.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BEC World PCL (BECVY)?
Revenue at BEC World PCL ADR is growing −15.5% versus a year earlier (3y avg −9.3%). 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 BEC World PCL (BECVY)?
Earnings per share at BEC World PCL ADR are growing −28.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does BEC World PCL (BECVY) hold?
BEC World PCL ADR holds more cash than debt, 405M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Sep 24, 2026