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BlueVenture Group (BVG) Fair Value & Analysis

Technology · TH · Market cap 716M THB

BG BlueVenture Group BVG · BK
Price1.71 THB
Fair Value2.79 THB
Upside+63.2%
Quality62/100
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Healthy Growth
Solidly profitable · 10.5% net margin
generates free cash flow
5.13% dividend yield
Ranks above peers (12/13)
Moderate moat 46/100
Evidence: High Range 2.09 THB – 3.48 THB Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 24 days ago

Share price +9.6% over the past month.

A solid business, screening 63% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (2.09 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.
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Price vs Fair Value (4 years)

8.36 THB 1.41 THB Fair Value 2.79 THB Feb 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

42‑month range 1.41 THB – 8.36 THB · fair‑value band 2.09 THB – 3.48 THB · the 1.71 THB price screens below the 2.79 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

BlueVenture Group (BVG) currently trades at 1.71 THB, while our model-based Fair Value estimate is 2.79 THB, implying the stock looks roughly 63.2% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Technology 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: high), always confirm before acting.

Over the trailing twelve months, BlueVenture Group generated revenue of 597M THB at a net margin of 10.5%. Revenue grew 8.8% year over year. It earns a return on equity of 8.2%. The balance sheet holds a net cash position of 103M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 2.09 THB (bear case) to 3.48 THB (bull case); at 1.71 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 20% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 63%, BVG 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
Residual Income 1.36 THB 1.44 THB 1.52 THB 76
Growth DCF 2.49 THB 3.66 THB 5.26 THB 72
Gordon GGM 0.6300 THB 1.13 THB 1.56 THB 70
All 26 models by family
DCF Models
FCF DCF 2.50 THB 3.79 THB 5.64 THB 38
Owner Earnings 2.36 THB 3.57 THB 5.31 THB 31
5Y Revenue Exit 2.10 THB 3.19 THB 4.61 THB 39
5Y EBITDA Exit 2.53 THB 4.06 THB 5.89 THB 41
5Y P/E Exit 2.28 THB 3.55 THB 4.93 THB 38
10Y Revenue Exit 2.19 THB 3.20 THB 4.63 THB 36
10Y EBITDA Exit 2.49 THB 3.76 THB 5.57 THB 37
10Y P/E Exit 2.34 THB 3.43 THB 4.86 THB 35
Earnings-Based
Graham-Dodd 0.9500 THB 3.80 THB 5.16 THB 54
Lynch FV 0.9400 THB 1.35 THB 1.75 THB 50
PEG = 1.0 0.9400 THB 1.35 THB 1.75 THB 46
EPV 1.39 THB 1.55 THB 1.68 THB 59
Dividend Discount
Gordon GGM 0.6300 THB 1.13 THB 1.56 THB 70
DDM Multi-Stage 0.6300 THB 1.04 THB 1.21 THB 61
Multiples
P/E Multiple 2.09 THB 2.79 THB 3.48 THB 63
P/S Multiple 1.78 THB 2.37 THB 2.96 THB 58
P/B Multiple 1.78 THB 2.37 THB 2.96 THB 55
EV/EBIT 2.70 THB 3.52 THB 4.34 THB 53
EV/EBITDA 2.81 THB 3.66 THB 4.51 THB 54
EV/Revenue 1.91 THB 2.61 THB 3.32 THB 43
Asset-Based
NCAV (Graham) 0.8600 THB 1.16 THB 1.72 THB 50
Growth DCF
Growth DCF 2.49 THB 3.66 THB 5.26 THB 72
Rev-Margin DCF 2.10 THB 3.19 THB 4.55 THB 67
Economic Profit
Residual Income 1.36 THB 1.44 THB 1.52 THB 76
ROIC Compounder 1.39 THB 1.55 THB 1.68 THB 67
Growth Earnings
Growth-Adj P/E 1.61 THB 2.30 THB 2.99 THB 68

Widest divergence: DCF Models (3.55 THB) versus Dividend Discount (1.04 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 597M THB
Revenue growth (YoY) +8.8%
Net margin 10.5%
Return on equity 8.2%
Free cash flow 100M THB FY2025
P/E ratio 11.4
More key figures
Operating margin 11.4%
EPS (TTM) 0.1400 THB
EPS growth (YoY) +4.2%
Net cash 103M THB FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 65 · Market factors (momentum, volatility) 47

Profitability 43
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 82
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

BlueVenture Group Public Company Limited provides software solutions in the motor claim industry in Thailand. The company offers AI solutions for motor claims management comprising AI Review for use in automating claims settlement process; and AI Estimate for visual assessments to understand damage and accelerate claims.

Full company description

BlueVenture Group Public Company Limited provides software solutions in the motor claim industry in Thailand. The company offers AI solutions for motor claims management comprising AI Review for use in automating claims settlement process; and AI Estimate for visual assessments to understand damage and accelerate claims. It also provides claim notification suite, such as M-Survey, a system that combines a platform between web applications and mobile apps; e-Survey, a system that helps surveyors to collect relevant information at the accident scene; and CarMate, a mobile application that includes services for various vehicle usage. In addition, the company offers claim settlement suite, including e-Claim, an auto repair claim system; e-Part, an auto parts ordering system spare part management software between insurance companies and parts stores; and e-Auction, a vehicle auction system. Further, it provides garage management solutions comprising e-Catalogue that helps garages to find the right parts and labor prices; e-Garage, a garage management system for cash type customers; m-Service, a mobile application solution for service providers; and Image gallery for taking pictures and submit the quotation for repair, as well as enhancement modules, including VDO call, photo guide, and business intelligence dashboard. The company was formerly known as EMCS Thai Co., Ltd. and changed its name to BlueVenture Group Public Company Limited in July 2022. BlueVenture Group Public Company Limited was founded in 2000 and is based in Bangkok, Thailand. BlueVenture Group Public Company Limited is a subsidiary of Thai Reinsurance Public Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BlueVenture Group reported revenue of 601M THB in FY2025 versus 400M THB in FY2021, a compound +10.7%/yr. Reported net income was 62.7M THB in FY2025, compounding +15.6%/yr from FY2021.

Growth Quality 84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
601M THB
Latest YoY
+16.1%
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.
+10.9%
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.
+9.1%
Avg. growth/yr (6Y) 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.
+7.7%
Revenue +10.7%/yr
FY21 400M THB
FY22 440M THB
FY23 522M THB
FY24 518M THB
FY25 601M THB
Net income +15.6%/yr
FY21 35.1M THB
FY22 54.0M THB
FY23 69.1M THB
FY24 52.1M THB
FY25 62.7M THB

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Cite: Fair Value Calculator (2026). "BlueVenture Group Fair Value". https://www.fairvalue-calculator.com/stock/BVG

Peer Group

Software - Application · 709 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 · Above median
Fair Value upside +63% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth -13% · Bottom 25%
Dividend yield (TTM) 5.1% · Top 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 11.4× · Cheaper than 75% of peers
P/B 0.92× · Cheaper than median
P/S (TTM) 1.24× · Cheaper than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 6.8× · Cheaper 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 0
FUTURE 0 · sector 38
PAST 31 · sector 13
HEALTH 0 · sector 98
DIVIDEND 100 · sector 28

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

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Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is BlueVenture Group (BVG) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 2.79 THB versus a price of 1.71 THB, about +63% (undervalued).
What is the fair value of BVG?
Our model-based fair value for BlueVenture Group is 2.79 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 1.71 THB.
What is the quality score of BVG?
BlueVenture Group 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 BlueVenture Group (BVG)?
BlueVenture Group reported trailing-twelve-month revenue of about 597M THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of BVG?
The net profit margin of BlueVenture Group is about 10.5%, meaning it keeps roughly 10.5% of revenue as net income. Based on the latest reported figures.

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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