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Eastern Power Group Public Company Limited (EP) Fair Value & Analysis

Industrials · TH · Market cap 1.1B THB

EP Eastern Power Group Public Company Limited EP · BK
Price1.11 THB
Fair Value1.64 THB
Upside+47.8%
Quality38/100
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Strengths

Trades 32% below our fair value of 1.64 THB

Risks

!Weak Growth (revenue 5y −3.2 %/yr)
!Loss-making · -129.1% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (5/10)
Weak Growth (revenue 5y −3.2 %/yr)
Loss-making · -129.1% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/10)
Narrow moat 33/100
Evidence: Medium Range 1.23 THB – 2.45 THB Share as image

Fair value as of: Aug 13, 2026

From 4 valuation models · updated 13 days ago

Share price −11.9% over the past month.

Below-average quality, trading 32% below our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (1.23 THB). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (1.23 THB to 2.45 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

7.04 THB 1.00 THB Fair Value 1.64 THB Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 1.00 THB – 7.04 THB · fair‑value band 1.23 THB – 2.45 THB · the 1.11 THB price screens below the 1.64 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Eastern Power Group Public Company Limited (EP) currently trades at 1.11 THB, while our model-based Fair Value estimate is 1.64 THB, implying the stock looks roughly 47.8% undervalued today. The Quality Score stands at 38/100 (below-average quality), in the Industrials 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: medium), always confirm before acting.

Trailing-twelve-month revenue stands at 1.0B THB. Revenue grew 64.3% year over year. It earns a return on equity of -52.4%. Net debt stands at 5.0B THB. Fundamentals as of Aug 13, 2026

Our scenario range runs from 1.23 THB (bear case) to 2.45 THB (bull case); at 1.11 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 23% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -22% fair-value upside, at 48%, EP 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
EV/EBITDA 0.9800 THB 1.60 THB 2.21 THB 54
EV/EBIT 0.0600 THB 0.3600 THB 0.6700 THB 53
NCAV (Graham) 1.23 THB 1.64 THB 2.45 THB 50
All 4 models by family
Multiples
EV/EBIT 0.0600 THB 0.3600 THB 0.6700 THB 53
EV/EBITDA 0.9800 THB 1.60 THB 2.21 THB 54
EV/Revenue 0.2000 THB 0.5200 THB 43
Asset-Based
NCAV (Graham) 1.23 THB 1.64 THB 2.45 THB 50

Widest divergence: Asset-Based (1.64 THB) versus Multiples (0.3600 THB). Highest evidence: EV/EBITDA (54).

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Key figures & financial health

P/S ratio 0.99 TTM
Net margin -129% TTM
Return on equity -52.4% TTM
Return on assets 1.2% TTM
Operating margin 27.5% TTM
EPS (TTM) -1.40 THB
More key figures
Growth
Revenue (TTM) 1.0B THB TTM
Revenue growth (YoY) +64.3% 3y avg -0.6%
EPS growth (YoY) +44.5%
Balance sheet & cash flow
Free cash flow −872M THB FY2025
Net debt 5.0B THB FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 31 · Market factors (momentum, volatility) 51

Profitability 1
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 2
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 30
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Eastern Power Group Public Company Limited engages in the solar and wind power generation, and printing and packaging businesses in Thailand, Hong Kong, and Vietnam. It operates through Printing; Holding other Companies' Shares; Solar Power Plants and Wind Power Plants; and Installation of Rooftop Solar System and Maintenance Solar Farm segments.

Full company description

Eastern Power Group Public Company Limited engages in the solar and wind power generation, and printing and packaging businesses in Thailand, Hong Kong, and Vietnam. It operates through Printing; Holding other Companies' Shares; Solar Power Plants and Wind Power Plants; and Installation of Rooftop Solar System and Maintenance Solar Farm segments. The company is also involved in the maintenance and installation service contract in solar power project; installation of rooftop solar system; and maintenance of solar farm. In addition, it invests in and develops energy projects. Eastern Power Group Public Company Limited was formerly known as Eastern Printing Public Company Limited and changed its name to Eastern Power Group Public Company Limited in April 2020. The company was incorporated in 1990 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Eastern Power Group Public Company Limited reported revenue of 862M THB in FY2025 versus 700M THB in FY2021, a compound +5.3%/yr. Reported net income was −1.5B THB in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
862M THB
Latest YoY
−6.7%
Avg. revenue 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.
−0.6%
Avg. revenue 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.
−3.2%
Avg. revenue growth/yr (19Y) 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.
+1.2%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +5.3%/yr
FY21 700M THB
FY22 878M THB
FY23 828M THB
FY24 924M THB
FY25 862M THB
Net income
FY21 1.0B THB
FY22 −315M THB
FY23 −465M THB
FY24 −825M THB
FY25 −1.5B THB

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Cite: Fair Value Calculator (2026). "Eastern Power Group Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/EP

Peer Group

Specialty Business Services · 257 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 38 · Bottom 25%
Fair Value upside +48% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) -129% · Bottom 25%
Operating margin (TTM) 27% · Top 25%
Revenue growth 64% · Top 25%
Debt / equity 0.38× · Higher than median

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/S (TTM) 0.03× · Cheaper than 75% of peers
EV/EBITDA 2.2× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE97 · sector 25
FUTURE100 · sector 27
PAST0 · sector 33
HEALTH81 · sector 91
DIVIDEND0 · sector 46

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

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10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Frequently asked questions

Is Eastern Power Group Public Company Limited (EP) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.64 THB versus a price of 1.11 THB, about +48% (undervalued).
What is the fair value of EP?
Our model-based fair value for Eastern Power Group Public Company Limited is 1.64 THB (as of Aug 13, 2026), built from audited fundamentals. The current price: 1.11 THB.
What is the quality score of EP?
Eastern Power Group Public Company Limited has a Quality Score of 38/100. 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 Eastern Power Group Public Company Limited (EP)?
Eastern Power Group Public Company Limited reported trailing-twelve-month revenue of about 1.0B THB (latest available figure, as of Aug 13, 2026).
What is the net profit margin of EP?
The net profit margin of Eastern Power Group Public Company Limited is about -129.1%, meaning it is currently running at a net loss. 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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