Information and Communication Networks Public Company Limited (ICN) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Information and Communication Networks Public Company Limited THB 2.75, price THB 2.16, upside +27.3%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 1.47 THB – 6.48 THB · fair‑value band 1.93 THB – 3.54 THB · the 2.16 THB price screens below the 2.75 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Information and Communication Networks Public Company Limited operates as a telecommunication system integrator company in Thailand.
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Information and Communication Networks Public Company Limited operates as a telecommunication system integrator company in Thailand. The company provides construction services for telecommunication networks; various services for the expansion of the telecommunication system and network; services for the network improvement of telecommunication systems; and design and installation of construction and electrical systems. It also distributes telecommunication spare parts; and offers maintenance services. In addition, the company provides preventive, corrective, and proactive/adaptive maintenance services for mobile exchange, mobile equipment of the base stations, optical and microwave networks, and IP routers/carrier switches, as well as IP networks for voice, video telephony, images, and data. Information and Communication Networks Public Company Limited was incorporated in 2007 and is based in Bangkok, Thailand.
Stock analysis
Information and Communication Networks Public Company Limited (ICN) currently trades at 2.16 THB, while our model-based Fair Value estimate is 2.75 THB, implying the stock looks roughly 21.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 5.86 THB per share, and 10 of the 16 models we run sit above the 2.16 THB price.
Bear case: the Asset-Based group reads lowest at 0.8700 THB, and 6 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 1.93 THB (bear) to 3.54 THB (bull), the price of 2.16 THB sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Communication Services sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Information and Communication Networks Public Company Limited reported revenue of 1.1B THB in FY2025 versus 1.8B THB in FY2021, a compound −10.9%/yr. Reported net income was 102M THB in FY2025, compounding −10.2%/yr from FY2021.
Key figures
Market cap 1.5B THB (≈ $43.6M) · P/E ratio 10.8 · P/S ratio 0.99 · EPS (TTM) 0.2000 THB · Dividend yield 6.9% · Net margin 9.2% · Return on equity 14.3% · Return on assets (EBIT) 11.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 47% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 47% fair-value upside, at 27%, ICN screens richer than that median.
Fair Value models
Bear 1.93 THBFair Value 2.75 THBBull 3.54 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0367 THB per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
What shareholders gained per year (last 5 years), in THB ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−2.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.4%
Dividend (yield on the price)6.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−9% vs 29%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.10% → 12%
Compare Information and Communication Networks Public Company Limited with another stock
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Peer Groupⓘ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.Telecom Services · 250 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside+27% · Above median
Profitability
Return on equity (TTM)14% · Above median
Return on assets5% · Above median
Net margin (TTM)6% · Above median
Operating margin (TTM)6% · Below median
Growth and dividend
Revenue growth358% · Top 25%
Dividend yield (TTM)6.9% · Top 25%
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Telecom Services median · lower = cheaper
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). "Information and Communication Networks Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/ICN
Frequently asked questions
Is Information and Communication Networks Public Company Limited (ICN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2.75 THB versus a price of 2.16 THB, about +27% upside (undervalued).
What is the fair value of ICN?
Our model-based fair value for Information and Communication Networks Public Company Limited is 2.75 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 2.16 THB.
What is the quality score of ICN?
Information and Communication Networks Public Company Limited has a Quality Score of 42/100. 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 price target for Information and Communication Networks Public Company Limited (ICN)?
Our model-based price target is the fair value of 2.75 THB (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 1.93 THB, optimistic scenario 3.54 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Information and Communication Networks Public Company Limited stock forecast for 2026?
Our models put fair value at 2.75 THB, about +27% upside versus a price of 2.16 THB (undervalued). Cautious scenario 1.93 THB, optimistic scenario 3.54 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Information and Communication Networks Public Company Limited (ICN)?
Information and Communication Networks Public Company Limited reported trailing-twelve-month revenue of about 2.1B THB (latest available figure, as of Sep 24, 2026).
Does Information and Communication Networks Public Company Limited pay a dividend?
Information and Communication Networks Public Company Limited currently shows a dividend yield of about 6.94% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Information and Communication Networks Public Company Limited (ICN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Information and Communication Networks Public Company Limited it is 2.75 THB per share (as of Sep 24, 2026), against a price of 2.16 THB. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Information and Communication Networks Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ICN trades below its calculated fair value: price 2.16 THB, fair value 2.75 THB, a gap of about +27% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ICN?
No. The price is what the market pays today (2.16 THB); the fair value is what the company's own numbers justify (2.75 THB). For Information and Communication Networks Public Company Limited the two are 0.5900 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Information and Communication Networks Public Company Limited worth?
The market values Information and Communication Networks Public Company Limited at about 1.5B THB (market capitalisation, as of Sep 24, 2026). Per share that is 2.16 THB; our models calculate a fair value of 2.75 THB per share.
What do the bullish and bearish scenarios say about ICN?
Our models span a range for Information and Communication Networks Public Company Limited: cautious scenario 1.93 THB, base 2.75 THB, optimistic 3.54 THB per share (as of Sep 24, 2026, price 2.16 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ICN?
Information and Communication Networks Public Company Limited trades at a price-to-earnings ratio of 10.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2.75 THB is built from several models across several years. Other multiples: P/B 1.7, P/S 0.7, EV/EBITDA 4.7.
How solid is the balance sheet of Information and Communication Networks Public Company Limited (ICN)?
Balance-sheet figures for Information and Communication Networks Public Company Limited (as of Sep 24, 2026): return on equity 14.3%, debt of 0.02 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is ICN from its 52-week high?
Information and Communication Networks Public Company Limited trades at 2.16 THB, about 4% below its 52-week high of 2.26 THB and 47% above the low of 1.47 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 2.75 THB is for.
Which stocks are comparable to Information and Communication Networks Public Company Limited?
From the same area (Communication Services) we also value China Mobile Limited, T-Mobile US, Inc, Verizon Communications Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Information and Communication Networks Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 2.16 THB, calculated fair value 2.75 THB (+27%), Quality Score 42/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ICN calculated?
We run Information and Communication Networks Public Company Limited through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 2.75 THB, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Information and Communication Networks Public Company Limited currently trades 27 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Information and Communication Networks Public Company Limited (ICN)?
The closing price on Sep 24, 2026 was 2.16 THB. Our model-based fair value is 2.75 THB, about +27% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Information and Communication Networks Public Company Limited right now?
A fairly wide model range (1.93 THB to 3.54 THB) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Information and Communication Networks Public Company Limited (ICN) come from?
Earnings per share at Information and Communication Networks Public Company Limited grew +27.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.1 %, EBIT margin +15.2 %, tax rate +2.4 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Information and Communication Networks Public Company Limited
How large is the market capitalisation of Information and Communication Networks Public Company Limited (ICN)?
The market capitalisation of Information and Communication Networks Public Company Limited is 1.5B THB (≈ $43.6M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Information and Communication Networks Public Company Limited (ICN)?
The price-to-sales ratio of Information and Communication Networks Public Company Limited is 0.99 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Information and Communication Networks Public Company Limited (ICN)?
Earnings per share at Information and Communication Networks Public Company Limited are 0.2000 THB (price ÷ EPS = P/E 10.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Information and Communication Networks Public Company Limited (ICN)?
The dividend yield of Information and Communication Networks Public Company Limited is 6.9% (payout 75.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Information and Communication Networks Public Company Limited (ICN)?
The net margin of Information and Communication Networks Public Company Limited is 9.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Information and Communication Networks Public Company Limited (ICN)?
The return on equity (ROE) of Information and Communication Networks Public Company Limited is 14.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Information and Communication Networks Public Company Limited (ICN)?
On an EBIT basis the return on assets of Information and Communication Networks Public Company Limited is 11.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Information and Communication Networks Public Company Limited (ICN)?
The operating margin of Information and Communication Networks Public Company Limited is 6.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Information and Communication Networks Public Company Limited (ICN)?
Revenue at Information and Communication Networks Public Company Limited is growing +358% versus a year earlier (3y avg −8.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Information and Communication Networks Public Company Limited (ICN)?
Earnings per share at Information and Communication Networks Public Company Limited are growing +114% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Information and Communication Networks Public Company Limited (ICN) generate?
The free cash flow of Information and Communication Networks Public Company Limited is −357M THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Information and Communication Networks Public Company Limited (ICN) carry?
The net debt of Information and Communication Networks Public Company Limited is 186M THB (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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