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E for L Aim Public Company (EFORL) Fair Value & Analysis

Healthcare · TH · Market cap 520M THB

EF E for L Aim Public Company EFORL · BK
Price0.1100 THB
Fair Value0.1900 THB
Upside+72.7%
Quality60/100
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Weak Growth
Thin margins · 4.0% net margin
Low debt · generates free cash flow
Ranks above peers (9/13)
Narrow moat 35/100
Evidence: High Range 0.1400 THB – 0.2400 THB Share as image

Fair value as of: Jul 20, 2026

From 24 valuation models · updated 21 days ago

Share price −15.4% over the past month.

A solid business, screening 73% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.1400 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

2.80 THB 0.0800 THB Fair Value 0.1900 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 0.0800 THB – 2.80 THB · fair‑value band 0.1400 THB – 0.2400 THB · the 0.1100 THB price screens below the 0.1900 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

Full chart & analysis →

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Analysis

E for L Aim Public Company (EFORL) currently trades at 0.1100 THB, while our model-based Fair Value estimate is 0.1900 THB, implying the stock looks roughly 72.7% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Healthcare 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, E for L Aim Public Company generated revenue of 1.3B THB at a net margin of 4.0%. Revenue declined 12.6% year over year. It earns a return on equity of 8.9%. Net debt stands at 277M THB. Fundamentals as of Jul 20, 2026

Our scenario range runs from 0.1400 THB (bear case) to 0.2400 THB (bull case); at 0.1100 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 45% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 2% fair-value upside, at 73%, EFORL 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
Growth DCF 0.2300 THB 0.3800 THB 0.5900 THB 80
Residual Income 0.1100 THB 0.1200 THB 0.1200 THB 76
Rev-Margin DCF 0.1500 THB 0.2500 THB 0.3900 THB 74
All 24 models by family
DCF Models
FCF DCF 0.2300 THB 0.4000 THB 0.6600 THB 38
Owner Earnings 0.1800 THB 0.3200 THB 0.5200 THB 31
5Y Revenue Exit 0.1500 THB 0.2500 THB 0.3900 THB 39
5Y EBITDA Exit 0.2300 THB 0.4300 THB 0.6600 THB 41
5Y P/E Exit 0.1700 THB 0.3000 THB 0.4500 THB 38
10Y Revenue Exit 0.1800 THB 0.2800 THB 0.4300 THB 36
10Y EBITDA Exit 0.2300 THB 0.3900 THB 0.6400 THB 37
10Y P/E Exit 0.1900 THB 0.3100 THB 0.4700 THB 35
Earnings-Based
Graham-Dodd 0.0800 THB 0.3500 THB 0.4800 THB 54
Lynch FV 0.0900 THB 0.1300 THB 0.1700 THB 50
PEG = 1.0 0.0900 THB 0.1300 THB 0.1700 THB 46
EPV 0.0800 THB 0.0900 THB 0.1100 THB 59
Multiples
P/E Multiple 0.1800 THB 0.2500 THB 0.3100 THB 63
P/S Multiple 0.1400 THB 0.1900 THB 0.2400 THB 58
P/B Multiple 0.1400 THB 0.1900 THB 0.2400 THB 55
EV/EBIT 0.1600 THB 0.2200 THB 0.2900 THB 53
EV/EBITDA 0.2600 THB 0.3600 THB 0.4600 THB 54
EV/Revenue 0.1100 THB 0.1600 THB 0.2200 THB 43
Asset-Based
NCAV (Graham) 0.0700 THB 0.1000 THB 0.1500 THB 50
Growth DCF
Growth DCF 0.2300 THB 0.3800 THB 0.5900 THB 80
Rev-Margin DCF 0.1500 THB 0.2500 THB 0.3900 THB 74
Economic Profit
Residual Income 0.1100 THB 0.1200 THB 0.1200 THB 76
ROIC Compounder 0.0800 THB 0.0900 THB 0.1100 THB 72
Growth Earnings
Growth-Adj P/E 0.1500 THB 0.2100 THB 0.2800 THB 68

Widest divergence: DCF Models (0.3100 THB) versus Economic Profit (0.0900 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.3B THB
Revenue growth (YoY) -12.6%
Net margin 4.0%
Return on equity 8.9%
Free cash flow 97.6M THB FY2025
P/E ratio 13.0
More key figures
Operating margin 1.5%
EPS (TTM) 0.0100 THB
EPS growth (YoY) -50.9%
Net debt 277M THB FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 59 · Market factors (momentum, volatility) 27

Profitability 48
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 2
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

E for L Aim Public Company Limited, together with its subsidiaries, engages in the distribution of medical devices and equipment in Thailand, the United States, Europe, and Asia.

Full company description

E for L Aim Public Company Limited, together with its subsidiaries, engages in the distribution of medical devices and equipment in Thailand, the United States, Europe, and Asia. The company offers medical devices, including patient and central monitor systems, defibrillator, automated external defibrillator, electrocardiographs, electroencephalogram, PSG system, and accessories and consumables, as well as ICU, transport, and MRI ventilators, anesthesia delivery system, incubator and radiant warmer, phototherapy, spirometer, pulmonary function lab, and cardiopulmonary exercise testing devices. It also provides handheld and ultrasound scanners, high flow oxygen therapy, ceiling pendant, hemodialysis machine, continuous renal replacement therapy, ozone hybrid, patients and medical devices tracking system, MRI infusion and monitor systems, MRI ferrous metal detector, video laryngoscope, hydrogen peroxide plasma sterilizing, and picture archiving and communication devices, as well as clean rooms, anesthesia record system, ECG viewer system, CIS for hemodialysis, telemedicine, telehealth, and PM and after-sale services. In addition, the company offers diagnosis and laboratory products, such as clinical chemistry, hematology, and immunoassay systems, blood gas and banking, urinalysis, hemoglobin A1C analyzer, automated immunoassay analyzer, rapid test kit, coagulation, POCT clinical chemistry analyzers, air purifier, and laboratory information system. Further, it distributes microscopes for life sciences comprising educational microscopes, clinical and laboratory microscopes, and microscopes for biological scientific research. The company was formerly known as Absolute Impact Public Company Limited and changed its name to E for L Aim Public Company Limited in September 2013. E for L Aim Public Company Limited was incorporated in 2005 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

E for L Aim Public Company reported revenue of 1.3B THB in FY2025 versus 2.2B THB in FY2021, a compound −11.9%/yr. Reported net income was 44.6M THB in FY2025, compounding −51.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.3B THB
Latest YoY
−2.6%
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.
−4.4%
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.
−4.8%
Avg. growth/yr (18Y) 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.
+13.4%
Revenue −11.9%/yr
FY21 2.2B THB
FY22 1.5B THB
FY23 1.3B THB
FY24 1.3B THB
FY25 1.3B THB
Net income −51.6%/yr
FY21 812M THB
FY22 53.0M THB
FY23 13.4M THB
FY24 19.7M THB
FY25 44.6M THB
Character of growth · EPS growth decomposed (2014-2025) −30.3 % p.a.
Revenue per share −19.6 pp

of which total revenue −8.2 pp · buybacks/dilution −11.4 pp

EBIT margin −10.3 pp
Tax rate +3.0 pp
Residual (interest, one-offs) −3.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "E for L Aim Public Company Fair Value". https://www.fairvalue-calculator.com/stock/EFORL

Peer Group

Medical Distribution · 81 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 60 · Top 25%
Fair Value upside +73% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth -13% · Bottom 25%
Debt / equity 0.22× · Higher than median

Valuation Multiples vs Medical Distribution median · lower = cheaper

P/E (TTM) 13.0× · Cheaper than median
P/B 0.89× · Cheaper than median
P/S (TTM) 0.41× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 6.0× · Cheaper 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 32
FUTURE 0 · sector 14
PAST 36 · sector 21
HEALTH 89 · sector 97
DIVIDEND 0 · sector 53

Insider activity: 45/100

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 Medical Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
McKesson Corporation MCK $805.96 $819.31 +2%
Cencora, Inc COR $303.44 $175.74 -42%
Cardinal Health, Inc CAH $224.94 $141.77 -37%
Henry Schein, Inc HSIC $87.82 $74.67 -15%
Shanghai Pharmaceuticals Holding 601607 ¥16.70 ¥33.96 +103%
Sinopharm Group 1099 HK$16.74 HK$61.33 +266%
Galenica AG GALE CHF 87.05 CHF 61.79 -29%
Guangzhou Baiyunshan Pharmaceutical Holdings 600332 ¥21.50 ¥28.65 +33%
Jointown Pharmaceutical Group 600998 ¥4.99 ¥9.84 +97%
Asker Healthcare Group ASKER kr 79.45 kr 25.69 -68%

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Frequently asked questions

Is E for L Aim Public Company (EFORL) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 0.1900 THB versus a price of 0.1100 THB, about +73% (undervalued).
What is the fair value of EFORL?
Our model-based fair value for E for L Aim Public Company is 0.1900 THB (as of Jul 20, 2026), built from audited fundamentals. The current price is 0.1100 THB.
What is the quality score of EFORL?
E for L Aim Public Company has a Quality Score of 60/100. 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 E for L Aim Public Company (EFORL)?
E for L Aim Public Company reported trailing-twelve-month revenue of about 1.3B THB (latest available figure, as of Jul 20, 2026).
What is the net profit margin of EFORL?
The net profit margin of E for L Aim Public Company is about 4.0%, meaning it keeps roughly 4.0% 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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