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I2 Enterprise Public Company (I2) Fair Value & Analysis

Technology · TH · Market cap 340M THB

IE I2 Enterprise Public Company I2 · BK
Price0.7700 THB
Fair Value0.5400 THB
Upside-29.9%
Quality29/100
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Weak Growth
Thin margins · 2.1% net margin
Moderate debt · negative free cash flow
2.68% dividend yield
Mixed vs. peers (6/13)
Narrow moat 27/100
Evidence: High Range 0.4100 THB – 0.6800 THB Share as image

Fair value as of: Jul 16, 2026

From 9 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 0.8900 THB to 0.5400 THB (−39.3%) since Jun 24, 2026. Share price −7.2% over the past month.

Below-average quality, and screening another 30% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.6800 THB). The favourable scenario is already priced in.
  • Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (3 years)

2.41 THB 0.5250 THB Fair Value 0.5400 THB Aug 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

36‑month range 0.5250 THB – 2.41 THB · fair‑value band 0.4100 THB – 0.6800 THB · the 0.7700 THB price screens above the 0.5400 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

I2 Enterprise Public Company (I2) currently trades at 0.7700 THB, while our model-based Fair Value estimate is 0.5400 THB, implying the stock looks roughly 29.9% overvalued today. The Quality Score stands at 29/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, I2 Enterprise Public Company generated revenue of 889M THB at a net margin of 2.1%. Revenue grew 54.9% year over year. It earns a return on equity of 2.3%. Net debt stands at 674M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 0.4100 THB (bear case) to 0.6800 THB (bull case); at 0.7700 THB, the current price sits above 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 29% below its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -30%, I2 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 1.01 THB 0.9600 THB 0.7100 THB 76
Gordon GGM 0.5400 THB 0.5900 THB 0.6500 THB 70
Growth-Adj P/E 0.4700 THB 0.6700 THB 0.8700 THB 68
All 9 models by family
Earnings-Based
Graham-Dodd 0.2200 THB 0.2700 THB 0.3000 THB 54
Dividend Discount
Gordon GGM 0.5400 THB 0.5900 THB 0.6500 THB 70
DDM Multi-Stage 0.5400 THB 0.6500 THB 0.7800 THB 61
Multiples
P/E Multiple 0.6700 THB 0.8900 THB 1.12 THB 63
P/S Multiple 0.4100 THB 0.5400 THB 0.6800 THB 58
P/B Multiple 0.4100 THB 0.5400 THB 0.6800 THB 55
Asset-Based
NCAV (Graham) 0.7500 THB 1.01 THB 1.50 THB 50
Economic Profit
Residual Income 1.01 THB 0.9600 THB 0.7100 THB 76
Growth Earnings
Growth-Adj P/E 0.4700 THB 0.6700 THB 0.8700 THB 68

Widest divergence: Asset-Based (1.01 THB) versus Earnings-Based (0.2700 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 889M THB
Revenue growth (YoY) +54.9%
Net margin 2.1%
Return on equity 2.3%
Free cash flow −10.4M THB FY2025
P/E ratio 20.3
More key figures
Operating margin 2.7%
EPS (TTM) 0.0400 THB
Dividend yield 2.8%
EPS growth (YoY) +543%
Net debt 674M THB FY2025

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

Quality Score breakdown

Overall quality 29/100

Of which business quality 28 · Market factors (momentum, volatility) 40

Profitability 19
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 20
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 33
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

I2 Enterprise Public Company Limited, a system integrator, provides information and communications technology solutions for government agencies, state enterprises, and private sectors in Thailand.

Full company description

I2 Enterprise Public Company Limited, a system integrator, provides information and communications technology solutions for government agencies, state enterprises, and private sectors in Thailand. The company offers digital transformation solutions comprising enterprise content management, big data solutions, electronic workflow management systems, and enterprise performance management. It also provides energy saving and management solutions; internet and satellite service solutions; Endpoint Detection and Response, reduces the risk of data breaches and damage to organization systems; Identity Access Management, a tool for managing authentication and access organizational resources; and Secure Service Edge, a cloud native platform for centralized security. In addition, the company offers advisory, installation, design, and distribution of equipment related to IT Infrastructure systems consisting of servers, and HCI systems design and installation services; network system design and installation solutions, such as network equipment, switches, routers, DWDM, and optical fibers; data center solutions, including storage, backup, and management systems; and design and installation of security systems, IT security, and cyber security solutions. The company was founded in 2004 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

I2 Enterprise Public Company reported revenue of 806M THB in FY2025 versus 1.4B THB in FY2021, a compound −12.3%/yr. Reported net income was 13.4M THB in FY2025, compounding −36.1%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
806M THB
Latest YoY
−40.9%
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.
−4.9%
Revenue −12.3%/yr
FY21 1.4B THB
FY22 936M THB
FY23 1.4B THB
FY24 1.4B THB
FY25 806M THB
Net income −36.1%/yr
FY21 80.6M THB
FY22 45.0M THB
FY23 85.3M THB
FY24 59.1M THB
FY25 13.4M THB

I2 screens 30% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "I2 Enterprise Public Company Fair Value". https://www.fairvalue-calculator.com/stock/I2

Peer Group

Communication Equipment · 286 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 29 · Bottom 25%
Fair Value upside −30% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 0% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 55% · Top 25%
Dividend yield (TTM) 2.7% · Above median
Debt / equity 1.00× · Higher than 75% of peers

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 20.3× · Cheaper than median
P/B 0.54× · Cheaper than 75% of peers
P/S (TTM) 0.38× · Cheaper than 75% of peers
EV/EBITDA 52.1× · Pricier 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 0 · sector 0
FUTURE 100 · sector 30
PAST 9 · sector 15
HEALTH 50 · sector 98
DIVIDEND 54 · sector 25

VALUE 0: the price sits above our fair-value range.

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 Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is I2 Enterprise Public Company (I2) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 0.5400 THB versus a price of 0.7700 THB, about −30% (overvalued).
What is the fair value of I2?
Our model-based fair value for I2 Enterprise Public Company is 0.5400 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 0.7700 THB.
What is the quality score of I2?
I2 Enterprise Public Company has a Quality Score of 29/100. 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 I2 Enterprise Public Company (I2)?
I2 Enterprise Public Company reported trailing-twelve-month revenue of about 889M THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of I2?
The net profit margin of I2 Enterprise Public Company is about 2.1%, meaning it keeps roughly 2.1% of revenue as net income. Based on the latest reported figures.
Does I2 Enterprise Public Company pay a dividend?
I2 Enterprise Public Company currently shows a dividend yield of about 2.75% 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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