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Charan Insurance Public Company (CHARAN) Fair Value & Analysis

Financial Services · TH · Market cap 198M THB

CI Charan Insurance Public Company CHARAN · BK
Price18.50 THB
Fair Value33.00 THB
Upside+78.4%
Quality75/100
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Expensive Growth
Solidly profitable · 10.3% net margin
negative free cash flow
5.29% dividend yield
Ranks above peers (10/13)
Moderate moat 52/100
Evidence: High Range 24.75 THB – 41.25 THB Share as image

Fair value as of: Jul 16, 2026

From 4 valuation models · updated 24 days ago

Fair value updated Jul 16, 2026, revised from 33.21 THB to 33.00 THB (−0.6%) since Jun 26, 2026. Share price +3.4% over the past month.

A strong business, screening 78% undervalued on our models.

What matters now

  • The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (24.75 THB). The market is more pessimistic than our downside scenario.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

30.88 THB 10.71 THB Fair Value 33.00 THB Apr 2018 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

60‑month range 10.71 THB – 30.88 THB · fair‑value band 24.75 THB – 41.25 THB · the 18.50 THB price screens below the 33.00 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.

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Analysis

Charan Insurance Public Company (CHARAN) currently trades at 18.50 THB, while our model-based Fair Value estimate is 33.00 THB, implying the stock looks roughly 78.4% undervalued today. The Quality Score stands at 75/100 (high quality), in the Financial Services 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, Charan Insurance Public Company generated revenue of 446M THB at a net margin of 10.3%. Revenue declined 16.8% year over year. It earns a return on equity of 7.6%. The balance sheet holds a net cash position of 60.0M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 24.75 THB (bear case) to 41.25 THB (bull case); at 18.50 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 3% below its 52-week high and 90% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 8% fair-value upside, at 78%, CHARAN 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 33.83 THB 32.97 THB 27.97 THB 76
P/E Multiple 24.91 THB 33.21 THB 41.51 THB 63
P/B Multiple 32.57 THB 43.43 THB 54.29 THB 55
All 4 models by family
Multiples
P/E Multiple 24.91 THB 33.21 THB 41.51 THB 63
P/B Multiple 32.57 THB 43.43 THB 54.29 THB 55
Asset-Based
NCAV (Graham) 24.42 THB 32.73 THB 48.85 THB 50
Economic Profit
Residual Income 33.83 THB 32.97 THB 27.97 THB 76

Widest divergence: Multiples (33.21 THB) versus Asset-Based (32.73 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 446M THB
Revenue growth (YoY) -17.4%
Net margin 10.3%
Return on equity 7.6%
Free cash flow −26.0M THB FY2025
P/E ratio 4.3
More key figures
Operating margin 29.5%
EPS (TTM) 3.83 THB
Dividend yield 5.3%
EPS growth (YoY) +131%
Net cash 60.0M THB FY2025

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

Quality Score breakdown

Overall quality 75/100

Of which business quality 74 · Market factors (momentum, volatility) 55

Profitability 45
Margins and returns on capital today
Quality Growth 98
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 58
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

Charan Insurance Public Company Limited provides non-life insurance products in Thailand. The company offers home fire and fire products; marine cargo and logistics products; and motor insurance products, as well as all risks for SME.

Full company description

Charan Insurance Public Company Limited provides non-life insurance products in Thailand. The company offers home fire and fire products; marine cargo and logistics products; and motor insurance products, as well as all risks for SME. It also provides property, leasehold contingency, construction, machinery breakdown, electronic equipment, personal/group overseas travel, cancer, money, product liability, plate glass, hazardous substance road transport liability, fidelity, all-risks, terrorism property, pre-trial bail bond, billboard, workmen's compensation, and disease-specific health insurance products. In addition, the company offers business interruption, small-business all-risks, contractors' equipment, boiler and pressure vessel, personal/group accident, travel accident, tour operators and guides' travel accident, third-party liability, burglary, compulsory lodging tenants', business liability, in-season rice and corn, gold shop, golfers, watercraft passenger, unemployment, directors and officers indemnity, unnamed driver and passenger accident, surveyors professional indemnity, and elderly care insurance products, as well as insurance for specific-purpose motor sea-craft. Charan Insurance Public Company Limited was founded in 1949 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Charan Insurance Public Company reported revenue of 468M THB in FY2025 versus 164M THB in FY2021, a compound +30.1%/yr. Reported net income was 30.7M THB in FY2025.

Growth Quality 54/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
468M THB
Latest YoY
+41.4%
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.
−0.9%
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.
+9.9%
Avg. growth/yr (21Y) 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.
+16.6%
Revenue +30.1%/yr
FY21 164M THB
FY22 481M THB
FY23 280M THB
FY24 331M THB
FY25 468M THB
Net income
FY21 −28.3M THB
FY22 69.8M THB
FY23 27.0M THB
FY24 −7.1M THB
FY25 30.7M THB

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Cite: Fair Value Calculator (2026). "Charan Insurance Public Company Fair Value". https://www.fairvalue-calculator.com/stock/CHARAN

Peer Group

Insurance - Property & Casualty · 120 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 77 · Top 25%
Fair Value upside +78% · Top 25%
Return on equity (TTM) 8% · Bottom 25%
Return on assets 3% · Above median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 29% · Top 25%
Revenue growth -17% · Bottom 25%
Dividend yield (TTM) 5.3% · Top 25%

Valuation Multiples vs Insurance - Property & Casualty median · lower = cheaper

P/E (TTM) 4.3× · Cheaper than 75% of peers
P/B 0.34× · Cheaper than 75% of peers
P/S (TTM) 0.44× · Cheaper than 75% of peers
EV/EBITDA 2.9× · Cheaper than 75% of peers
PEG 1.88× · Pricier than median

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 42
FUTURE 0 · sector 31
PAST 30 · sector 56
HEALTH 0 · sector 92
DIVIDEND 100 · sector 48

Insider activity: 40/100

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 Insurance - Property & Casualty stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
The Progressive Corporation PGR $234.48 $252.50 +8%
Chubb Limited CB $337.44 $345.56 +2%
The Travelers Companies, Inc TRV $368.98 $384.42 +4%
The Allstate Corporation ALL $251.61 $503.22 +100%
The People's Insurance Company 601319 ¥7.06 ¥13.71 +94%
Intact Financial Corporation IFC C$294.02 C$247.44 -16%
Fairfax Financial Holdings FFH C$2,327 C$3,252 +40%
QBE Insurance Group QBE A$25.47 A$19.42 -24%
Samsung Fire & Marine Insurance Co 000810 648,000 KRW 658,771 KRW +2%
Powszechny Zaklad Ubezpieczen SA PZU 69.80 PLN 100.85 PLN +44%

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Frequently asked questions

Is Charan Insurance Public Company (CHARAN) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 33.00 THB versus a price of 18.50 THB, about +78% (undervalued).
What is the fair value of CHARAN?
Our model-based fair value for Charan Insurance Public Company is 33.00 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 18.50 THB.
What is the quality score of CHARAN?
Charan Insurance Public Company has a Quality Score of 75/100. 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 Charan Insurance Public Company (CHARAN)?
Charan Insurance Public Company reported trailing-twelve-month revenue of about 446M THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of CHARAN?
The net profit margin of Charan Insurance Public Company is about 10.3%, meaning it keeps roughly 10.3% of revenue as net income. Based on the latest reported figures.
Does Charan Insurance Public Company pay a dividend?
Charan Insurance Public Company currently shows a dividend yield of about 5.00% relative to its recent price (as of Jul 16, 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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