EN DE

I.C.C. International Public Company (ICC) Fair Value & Analysis

Consumer Cyclical · TH · Market cap 12.3B THB

IC I.C.C. International Public Company ICC · BK
Price24.00 THB
Fair Value22.99 THB
Upside-4.2%
Quality47/100
Watch I.C.C. International Public Company for free, get notified when fair value or trend changes. Watch for free
Weak Growth
Thin margins · 4.0% net margin
generates free cash flow
2.86% dividend yield
Trails peers (4/12)
Narrow moat 24/100
Evidence: High Range 17.25 THB – 28.75 THB Share as image

Fair value as of: Jul 15, 2026

From 18 valuation models · updated 26 days ago

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 17.25 THB (bear) to 28.75 THB (bull), base 22.99 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 47/100 (below-average quality) with high evidence: the data supports the verdict.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

28.88 THB 13.78 THB Fair Value 22.99 THB May 2019 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 13.78 THB – 28.88 THB · fair‑value band 17.25 THB – 28.75 THB · the 24.00 THB price screens above the 22.99 THB fair value. Dashed = 300-day average. As of Jul 15, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

I.C.C. International Public Company (ICC) currently trades at 24.00 THB, while our model-based Fair Value estimate is 22.99 THB, implying the stock looks roughly 4.2% fairly valued today. The Quality Score stands at 47/100 (below-average quality), in the Consumer Cyclical 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, I.C.C. International Public Company generated revenue of 8.2B THB at a net margin of 4.0%. Revenue declined 7.3% year over year. It earns a return on equity of 1.1%. Net debt stands at 367M THB. Fundamentals as of Jul 15, 2026

Our scenario range runs from 17.25 THB (bear case) to 28.75 THB (bull case); at 24.00 THB, the current price sits within 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 13% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -45% fair-value upside, at -4%, ICC 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 42.31 THB 40.73 THB 33.66 THB 76
Growth DCF 26.71 THB 35.99 THB 51.86 THB 72
Gordon GGM 4.22 THB 4.62 THB 5.23 THB 70
All 18 models by family
DCF Models
FCF DCF 25.58 THB 35.14 THB 52.84 THB 38
Owner Earnings 19.26 THB 26.33 THB 39.44 THB 31
5Y Revenue Exit 18.51 THB 24.93 THB 34.23 THB 39
5Y P/E Exit 24.43 THB 35.17 THB 48.03 THB 38
10Y Revenue Exit 20.73 THB 25.76 THB 31.02 THB 36
10Y P/E Exit 24.69 THB 32.10 THB 39.13 THB 35
Earnings-Based
Graham-Dodd 10.82 THB 13.23 THB 14.88 THB 54
Dividend Discount
Gordon GGM 4.22 THB 4.62 THB 5.23 THB 70
DDM Multi-Stage 4.22 THB 5.30 THB 6.81 THB 61
Multiples
P/E Multiple 26.26 THB 35.01 THB 43.76 THB 63
P/S Multiple 15.01 THB 20.01 THB 25.01 THB 58
P/B Multiple 20.29 THB 27.05 THB 33.82 THB 55
EV/Revenue 15.24 THB 21.25 THB 27.25 THB 43
Asset-Based
NCAV (Graham) 29.48 THB 39.50 THB 58.96 THB 50
Growth DCF
Growth DCF 26.71 THB 35.99 THB 51.86 THB 72
Rev-Margin DCF 18.51 THB 25.50 THB 34.23 THB 67
Economic Profit
Residual Income 42.31 THB 40.73 THB 33.66 THB 76
Growth Earnings
Growth-Adj P/E 18.51 THB 26.44 THB 34.38 THB 68

Widest divergence: Economic Profit (40.73 THB) versus Dividend Discount (4.62 THB). Highest evidence: Residual Income (76).

Notify me when ICC reaches fair value

Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.

Key figures & financial health

Revenue (TTM) 8.2B THB
Revenue growth (YoY) -7.3%
Net margin 4.0%
Return on equity 1.1%
Free cash flow 1.3B THB FY2025
P/E ratio 36.9
More key figures
Operating margin -3.3%
EPS (TTM) 0.6500 THB
Dividend yield 2.9%
EPS growth (YoY) -77.8%
Net debt 367M THB FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 50 · Market factors (momentum, volatility) 50

Profitability 24
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 46
Distance to the 52-week high (market factor)
Net Issuance 0
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

I.C.C. International Public Company Limited engages in the distribution of consumer products in Thailand. The company operates through four segments: Cosmetics Toiletries & Perfumeries; Women's Apparel; Men's Apparel; and Household Products.

Full company description

I.C.C. International Public Company Limited engages in the distribution of consumer products in Thailand. The company operates through four segments: Cosmetics Toiletries & Perfumeries; Women's Apparel; Men's Apparel; and Household Products. It offers fashion and apparels, cosmetics, bags and leatherwear, shoes, sports products, heath and supplement products, household goods, and food and beverage products, as well as products for toddlers. The company also engages in property and hotel property development; car rental services; sales products via electronic media; warehouse management and distribution center; real estate rental and leasing services; and manufacturing and distribution of apparels and textiles. It sells its products through department and various stores. The company was formerly known as International Cosmetics Public company Limited and changed its name to I.C.C. International Public Company Limited in 1996. I.C.C. International Public Company Limited was founded in 1964 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

I.C.C. International Public Company reported revenue of 8.3B THB in FY2025 versus 6.8B THB in FY2021, a compound +5.2%/yr. Reported net income was 796M THB in FY2025, compounding +60.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
8.3B THB
Latest YoY
−4.6%
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.
−0.6%
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.
+1.3%
Avg. growth/yr (26Y) 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.
+0.4%
Revenue +5.2%/yr
FY21 6.8B THB
FY22 8.5B THB
FY23 8.8B THB
FY24 8.7B THB
FY25 8.3B THB
Net income +60.0%/yr
FY21 122M THB
FY22 619M THB
FY23 894M THB
FY24 983M THB
FY25 796M THB
Character of growth · EPS growth decomposed (2014-2025) +1.6 % p.a.
Revenue per share −5.3 pp

of which total revenue −3.9 pp · buybacks/dilution −1.4 pp

EBIT margin +12.0 pp
Tax rate +1.0 pp
Residual (interest, one-offs) −6.1 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).

Watch ICC: get an alert when its fair value changes →

Share or link this analysis
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Cite: Fair Value Calculator (2026). "I.C.C. International Public Company Fair Value". https://www.fairvalue-calculator.com/stock/ICC

Peer Group

Apparel Retail · 106 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 47 · Bottom 25%
Fair Value upside −4% · Below median
Return on equity (TTM) 1% · Below median
Return on assets -1% · Bottom 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) -3% · Bottom 25%
Revenue growth -7% · Bottom 25%
Dividend yield (TTM) 2.9% · Above median

Valuation Multiples vs Apparel Retail median · lower = cheaper

P/E (TTM) 37.8× · Pricier than 75% of peers
P/B 0.42× · Cheaper than 75% of peers
P/S (TTM) 1.50× · Pricier than 75% of peers
P/FCF 0.3× · 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 28 · sector 33
FUTURE 0 · sector 18
PAST 4 · sector 36
HEALTH 0 · sector 100
DIVIDEND 57 · sector 44

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 Apparel Retail stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Industria de Diseño Textil, S.A 1ITX €58.44 €23.29 -60%
The TJX Companies, Inc TJX $154.46 $84.95 -45%
Fast Retailing Co 6288 HK$40.00 HK$15.37 -62%
Ross Stores, Inc ROST $233.46 $118.41 -49%
Burlington Stores, Inc BURL $327.72 $147.08 -55%
Trent Limited TRENT ₹2,903 ₹709.49 -76%
lululemon athletica inc., LULU $116.33 $299.63 +158%
Aritzia Inc ATZ C$160.05 C$87.26 -45%
The Gap, Inc GAP $20.35 $37.12 +82%
Urban Outfitters, Inc URBN $72.95 $92.88 +27%

Compare I.C.C. International Public Company with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Consumer Cyclical stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is I.C.C. International Public Company (ICC) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 22.99 THB versus a price of 24.00 THB, about −4% (fairly valued).
What is the fair value of ICC?
Our model-based fair value for I.C.C. International Public Company is 22.99 THB (as of Jul 15, 2026), built from audited fundamentals. The current price is 24.00 THB.
What is the quality score of ICC?
I.C.C. International Public Company has a Quality Score of 47/100. 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 I.C.C. International Public Company (ICC)?
I.C.C. International Public Company reported trailing-twelve-month revenue of about 8.2B THB (latest available figure, as of Jul 15, 2026).
What is the net profit margin of ICC?
The net profit margin of I.C.C. International Public Company is about 4.0%, meaning it keeps roughly 4.0% of revenue as net income. Based on the latest reported figures.
Does I.C.C. International Public Company pay a dividend?
I.C.C. International Public Company currently shows a dividend yield of about 2.89% relative to its recent price (as of Jul 15, 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.

14 days Pro free · no card

Track I.C.C. International Public Company and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.