Bound and Beyond PCL (BEYOND) fair value: what the stock is really worth
As of Oct 12, 2026: fair value of Bound and Beyond PCL THB 10.97, price THB 7.15, upside +53.4%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range 4.90 THB – 16.70 THB · fair‑value band 5.27 THB – 10.97 THB · the 7.15 THB price screens below the 10.97 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 2, 2026.
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Bound and Beyond Public Company Limited, together with its subsidiaries, invests in, develops, and operates hotel and hospitality business in Thailand. It operates in two segments: Hotel and Other Services. The company owns hotels under the Four Seasons Hotel Bangkok and Capella Bangkok names.
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Bound and Beyond Public Company Limited, together with its subsidiaries, invests in, develops, and operates hotel and hospitality business in Thailand. It operates in two segments: Hotel and Other Services. The company owns hotels under the Four Seasons Hotel Bangkok and Capella Bangkok names. It also engages in the trading of various base metals and by-products; and provision of food and beverage services. Bound and Beyond Public Company Limited was founded in 1981 and is based in Bangkok, Thailand.
Stock analysis
Bound and Beyond PCL (BEYOND) currently trades at 7.15 THB, while our model-based Fair Value estimate is 10.97 THB, implying the stock looks roughly 34.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 20.87 THB per share, and 14 of the 24 models we run sit above the 7.15 THB price.
Bear case: the Asset-Based group reads lowest at 15.45 THB, and 10 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 5.27 THB (bear) to 10.97 THB (bull), the price of 7.15 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 53/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Bound and Beyond PCL reported revenue of 3.3B THB in FY2025 versus 222M THB in FY2021, a compound +96.6%/yr. Reported net income was 2.3M THB in FY2025, compounding −77.3%/yr from FY2021.
Key figures
Market cap 2.0B THB (≈ $60.1M) · P/E ratio 20.4 · P/S ratio 0.01 · EPS (TTM) 0.3500 THB · Net margin 0.1% · Return on equity 1.5% · Return on assets (EBIT) 1.0% · Operating margin 4.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 46% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −28% fair-value upside, at 53%, BEYOND screens cheaper than that median.
Fair Value models
Bear 5.27 THBFair Value 10.97 THBBull 10.97 THB
Price 7.15 THB · Upside +53.4%
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 (0.2742 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. 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.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.
Highest evidence
Residual Income13.72 THB11.93 THB10.84 THB76
FCF DCF16.34 THB29.96 THB62.19 THB75
Growth DCF15.22 THB31.76 THB57.72 THB75
All 24 models by family
DCF Models
FCF DCF16.34 THB29.96 THB62.19 THB75
Owner Earnings7.05 THB20.87 THB44.10 THB70
5Y Revenue Exit8.30 THB19.73 THB37.95 THB68
5Y EBITDA Exit11.78 THB27.44 THB51.16 THB71
5Y P/E Exit0.7500 THB3.29 THB5.62 THB66
10Y Revenue Exit10.70 THB23.31 THB39.77 THB64
10Y EBITDA Exit13.12 THB28.67 THB54.54 THB64
10Y P/E Exit6.55 THB11.68 THB18.18 THB62
Earnings-Based
Graham-Dodd0.0600 THB0.3700 THB0.5200 THB63
Lynch FV0.1100 THB0.1500 THB0.2000 THB61
PEG = 1.00.1100 THB0.1500 THB0.2000 THB57
EPVn/a0.9800 THB1.81 THB68
Multiples
P/E Multiple0.1100 THB0.1400 THB0.1800 THB63
P/S Multiple0.1100 THB0.1400 THB0.1800 THB58
P/B Multiple0.1100 THB0.1400 THB0.1800 THB55
EV/EBIT5.35 THB9.99 THB14.63 THB63
EV/EBITDA10.27 THB16.56 THB22.84 THB66
EV/Revenue3.50 THB8.67 THB13.84 THB50
Asset-Based
NCAV (Graham)11.53 THB15.45 THB23.06 THB54
Growth DCF
Growth DCF15.22 THB31.76 THB57.72 THB75
Rev-Margin DCF8.30 THB20.37 THB37.79 THB68
Economic Profit
Residual Income13.72 THB11.93 THB10.84 THB76
ROIC Compoundern/a0.9800 THB1.81 THB68
Growth Earnings
Growth-Adj P/E0.1400 THB0.2000 THB0.2600 THB67
P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.
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.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.7%
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.
+15.5%
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.
+56.8%
Start year 2020 (pandemic). Over 10 years: −3.8% a year
Revenue growth 25 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.
−1.9%
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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.
−66.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−66.6%
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.−66.6% vs −42.5%, slowing
Profit margin 2019 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.17% → 11%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 7.2%/yr over ~10Y (margins intact) ⓘ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).
+19.1%
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 +17.7% a year for the price.
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.Lodging · 156 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside+53.4% · Top 25%
Profitability
Return on equity (TTM)1.5% · Below median
Return on assets2.5% · Above median
Net margin (TTM)2.8% · Below median
Operating margin (TTM)4.3% · Below median
Growth and dividend
Revenue growth13.9% · Above median
Balance sheet
Debt / equity0.53× · Above median
Valuation Multiplesvs Lodging 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). "Bound and Beyond PCL Fair Value". https://www.fairvalue-calculator.com/stock/BEYOND
Frequently asked questions
Is Bound and Beyond PCL (BEYOND) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 10.97 THB versus a price of 7.15 THB, about +53% upside (undervalued).
What is the fair value of BEYOND?
Our model-based fair value for Bound and Beyond PCL is 10.97 THB (as of Oct 2, 2026), built from audited fundamentals. The current price: 7.15 THB.
What is the quality score of BEYOND?
Bound and Beyond PCL has a Quality Score of 53/100. 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 Bound and Beyond PCL (BEYOND)?
Our model-based price target is the fair value of 10.97 THB (as of Oct 2, 2026) from 24 valuation models. Cautious scenario 5.27 THB, optimistic scenario 10.97 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Bound and Beyond PCL stock forecast for 2026?
Our models put fair value at 10.97 THB, about +53% upside versus a price of 7.15 THB (undervalued). Cautious scenario 5.27 THB, optimistic scenario 10.97 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Bound and Beyond PCL (BEYOND)?
Bound and Beyond PCL reported trailing-twelve-month revenue of about 3.5B THB (latest available figure, as of Oct 2, 2026).
What growth is priced into Bound and Beyond PCL (BEYOND)?
For today's price to be fair in a discounted-cash-flow model, Bound and Beyond PCL would have to grow free cash flow by +19.1 % per year for five years (discount rate 14.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +56.8 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of BEYOND use?
Our models discount Bound and Beyond PCL at 14.6 %: a base by market capitalisation (micro), 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 Bound and Beyond PCL that is +19.1 % per year a year over ten years, using the same discount rate (14.6 %) and the same formula as our fair value.
How much growth has Bound and Beyond PCL (BEYOND) delivered so far?
Over the past 5 years revenue at Bound and Beyond PCL grew +56.8 % a year. The price currently implies +19.1 % 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 Bound and Beyond PCL (BEYOND) growing?
The median revenue growth in the sector is +9.3 % a year. That is the yardstick for the growth priced into Bound and Beyond PCL (+19.1 % 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 Bound and Beyond PCL (BEYOND)?
The free-cash-flow yield on the price is 16.34 %: that much free cash flow Bound and Beyond PCL produces per unit of market value. When it exceeds the discount rate of our models (14.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bound and Beyond PCL (BEYOND)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bound and Beyond PCL it is 10.97 THB per share (as of Oct 2, 2026), against a price of 7.15 THB. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Bound and Beyond PCL stock overvalued or undervalued in 2026?
As of Oct 2, 2026, BEYOND trades below its calculated fair value: price 7.15 THB, fair value 10.97 THB, a gap of about +53% (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 BEYOND?
No. The price is what the market pays today (7.15 THB); the fair value is what the company's own numbers justify (10.97 THB). For Bound and Beyond PCL the two are 3.82 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Bound and Beyond PCL worth?
The market values Bound and Beyond PCL at about 2.0B THB (market capitalisation, as of Oct 2, 2026). Per share that is 7.15 THB; our models calculate a fair value of 10.97 THB per share.
What do the bullish and bearish scenarios say about BEYOND?
Our models span a range for Bound and Beyond PCL: cautious scenario 5.27 THB, base 10.97 THB, optimistic 10.97 THB per share (as of Oct 2, 2026, price 7.15 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BEYOND?
Bound and Beyond PCL trades at a price-to-earnings ratio of 20.4 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 10.97 THB is built from several models across several years. Other multiples: P/B 0.3, P/S 0.6, EV/EBITDA 6.9.
How solid is the balance sheet of Bound and Beyond PCL (BEYOND)?
Balance-sheet figures for Bound and Beyond PCL (as of Oct 2, 2026): return on equity 1.5%, debt of 0.53 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is BEYOND from its 52-week high?
Bound and Beyond PCL trades at 7.15 THB, about 22% below its 52-week high of 9.15 THB and 46% above the low of 4.90 THB (as of Oct 12, 2026). Distance from the high says nothing about value: that is what the fair value of 10.97 THB is for.
Which stocks are comparable to Bound and Beyond PCL?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, InterContinental Hotels Group, Hyatt Hotels 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 Bound and Beyond PCL stock attractive at the current price?
The data as of Oct 2, 2026: price 7.15 THB, calculated fair value 10.97 THB (+53%), Quality Score 53/100, 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 BEYOND calculated?
We run Bound and Beyond PCL 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 10.97 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 14.8 % above its aggregate fair value. Bound and Beyond PCL currently trades 35 % 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 Bound and Beyond PCL (BEYOND)?
The closing price on Oct 12, 2026 was 7.15 THB. Our model-based fair value is 10.97 THB, about +53% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bound and Beyond PCL right now?
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 (53/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (5.27 THB to 10.97 THB) leaves room in how you read the outcome.
Where does the earnings growth of Bound and Beyond PCL (BEYOND) come from?
Earnings per share at Bound and Beyond PCL grew −17.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share −8.1 %, EBIT margin −1.4 %, tax rate +1.7 %, residual (interest, one-offs) −10.9 %. 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 Bound and Beyond PCL
How large is the market capitalisation of Bound and Beyond PCL (BEYOND)?
The market capitalisation of Bound and Beyond PCL is 2.0B THB (≈ $60.1M). 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 Bound and Beyond PCL (BEYOND)?
The price-to-sales ratio of Bound and Beyond PCL is 0.01 (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 Bound and Beyond PCL (BEYOND)?
Earnings per share at Bound and Beyond PCL are 0.3500 THB (price ÷ EPS = P/E 20.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Bound and Beyond PCL (BEYOND)?
The net margin of Bound and Beyond PCL is 0.1% (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 Bound and Beyond PCL (BEYOND)?
The return on equity (ROE) of Bound and Beyond PCL is 1.5% (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 Bound and Beyond PCL (BEYOND)?
On an EBIT basis the return on assets of Bound and Beyond PCL is 1.0% (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 Bound and Beyond PCL (BEYOND)?
The operating margin of Bound and Beyond PCL is 4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bound and Beyond PCL (BEYOND)?
Revenue at Bound and Beyond PCL is growing +13.9% versus a year earlier (3y avg +15.5%). 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 Bound and Beyond PCL (BEYOND)?
Earnings per share at Bound and Beyond PCL are growing +104% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bound and Beyond PCL (BEYOND) carry?
The net debt of Bound and Beyond PCL is 5.0B THB (fiscal year 2025, ≈ 15.2 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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