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Index Living Mall Public Company (ILM) Fair Value & Analysis

Consumer Cyclical · TH · Market cap 6.7B THB

IL Index Living Mall Public Company ILM · BK
Price13.50 THB
Fair Value27.81 THB
Upside+106.0%
Quality58/100
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Healthy Growth
Thin margins · 7.3% net margin
Low debt · generates free cash flow
7.58% dividend yield
Ranks above peers (13/14)
Moderate moat 48/100
Evidence: High Range 19.02 THB – 36.68 THB Share as image

Fair value as of: Jul 16, 2026

From 24 valuation models · updated 25 days ago

Share price +3.8% over the past month.

A solid business, screening 106% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (19.02 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (19.02 THB to 36.68 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

21.48 THB 10.38 THB Fair Value 27.81 THB Feb 2021 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

60‑month range 10.38 THB – 21.48 THB · fair‑value band 19.02 THB – 36.68 THB · the 13.50 THB price screens below the 27.81 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

Index Living Mall Public Company (ILM) currently trades at 13.50 THB, while our model-based Fair Value estimate is 27.81 THB, implying the stock looks roughly 106.0% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Consumer Cyclical 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, Index Living Mall Public Company generated revenue of 10.0B THB at a net margin of 7.3%. Revenue declined 1.8% year over year. It earns a return on equity of 11.1%. Net debt stands at 3.9B THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 19.02 THB (bear case) to 36.68 THB (bull case); at 13.50 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 12% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 16% fair-value upside, at 106%, ILM 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 16.77 THB 22.09 THB 30.48 THB 80
Residual Income 11.57 THB 13.19 THB 20.72 THB 76
Rev-Margin DCF 15.70 THB 23.03 THB 31.76 THB 74
All 24 models by family
DCF Models
FCF DCF 16.23 THB 21.77 THB 31.15 THB 38
Owner Earnings 13.94 THB 18.68 THB 26.73 THB 31
5Y Revenue Exit 15.70 THB 22.76 THB 32.53 THB 39
5Y EBITDA Exit 24.20 THB 37.34 THB 53.87 THB 41
5Y P/E Exit 19.43 THB 29.16 THB 40.14 THB 38
10Y Revenue Exit 15.34 THB 21.47 THB 28.56 THB 36
10Y EBITDA Exit 20.89 THB 30.92 THB 42.61 THB 37
10Y P/E Exit 18.02 THB 25.62 THB 33.57 THB 35
Earnings-Based
Graham-Dodd 10.14 THB 18.40 THB 22.73 THB 54
EPV 15.00 THB 17.35 THB 19.37 THB 59
Dividend Discount
Gordon GGM 8.78 THB 11.42 THB 14.02 THB 70
DDM Multi-Stage 8.78 THB 11.84 THB 15.37 THB 61
Multiples
P/E Multiple 24.61 THB 32.81 THB 41.02 THB 63
P/S Multiple 17.57 THB 23.42 THB 29.28 THB 58
P/B Multiple 19.02 THB 25.36 THB 31.70 THB 55
EV/EBIT 26.77 THB 35.64 THB 44.51 THB 53
EV/EBITDA 33.75 THB 44.95 THB 56.14 THB 54
EV/Revenue 16.55 THB 23.58 THB 30.60 THB 43
Asset-Based
NCAV (Graham) 6.35 THB 8.51 THB 12.70 THB 50
Growth DCF
Growth DCF 16.77 THB 22.09 THB 30.48 THB 80
Rev-Margin DCF 15.70 THB 23.03 THB 31.76 THB 74
Economic Profit
Residual Income 11.57 THB 13.19 THB 20.72 THB 76
ROIC Compounder 15.17 THB 17.99 THB 20.86 THB 72
Growth Earnings
Growth-Adj P/E 17.39 THB 24.84 THB 32.29 THB 68

Widest divergence: Multiples (25.36 THB) versus Asset-Based (8.51 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 10.0B THB
Revenue growth (YoY) -1.8%
Net margin 7.3%
Return on equity 11.1%
Free cash flow 836M THB FY2025
P/E ratio 9.3
More key figures
Operating margin 11.3%
EPS (TTM) 1.43 THB
Dividend yield 7.6%
EPS growth (YoY) -13.9%
Net debt 3.9B THB FY2025

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 59

Profitability 50
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 43
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

Index Living Mall Public Company Limited engages in the retail and wholesale of furniture, electronic, and home decorative products in Thailand. It operates through four segments: Retail of Furniture, Manufacturing of Furniture, Rental Area and Service, and Others.

Full company description

Index Living Mall Public Company Limited engages in the retail and wholesale of furniture, electronic, and home decorative products in Thailand. It operates through four segments: Retail of Furniture, Manufacturing of Furniture, Rental Area and Service, and Others. The company is also involved in the manufacture, import, export, and distribution of furniture and home appliances; rental business; and warehouse rental activities, as well as in the franchise business. Index Living Mall Public Company Limited was founded in 1973 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Index Living Mall Public Company reported revenue of 9.9B THB in FY2025 versus 8.3B THB in FY2021, a compound +4.3%/yr. Reported net income was 753M THB in FY2025, compounding +13.5%/yr from FY2021.

Growth Quality 66/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
9.9B THB
Latest YoY
+0.8%
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.
+3.5%
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.
+4.0%
Avg. growth/yr (9Y) 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%
Revenue +4.3%/yr
FY21 8.3B THB
FY22 8.9B THB
FY23 9.3B THB
FY24 9.8B THB
FY25 9.9B THB
Net income +13.5%/yr
FY21 453M THB
FY22 659M THB
FY23 726M THB
FY24 745M THB
FY25 753M THB

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Cite: Fair Value Calculator (2026). "Index Living Mall Public Company Fair Value". https://www.fairvalue-calculator.com/stock/ILM

Peer Group

Furnishings, Fixtures & Appliances · 311 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 58 · Above median
Fair Value upside +106% · Top 25%
Return on equity (TTM) 11% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 11% · Top 25%
Revenue growth -2% · Above median
Dividend yield (TTM) 7.6% · Top 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/E (TTM) 9.3× · Cheaper than 75% of peers
P/B 1.05× · Cheaper than median
P/S (TTM) 0.68× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 3.9× · 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 100 · sector 22
FUTURE 0 · sector 0
PAST 45 · sector 19
HEALTH 99 · sector 97
DIVIDEND 100 · sector 55

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥82.71 ¥107.22 +30%
Gree Electric Appliances, Inc 000651 ¥38.25 ¥88.02 +130%
Haier Smart Home Co 600690 ¥21.46 ¥36.04 +68%
King Slide Works Co 2059 8,655 TWD 1,917 TWD -78%
Guangdong Songfa Ceramics Co 603268 ¥155.59 ¥38.95 -75%
SharkNinja, Inc SN $154.53 $89.07 -42%
Hisense Home Appliances Group 000921 ¥26.33 ¥48.03 +82%
Zhejiang Supor Co 002032 ¥43.85 ¥44.84 +2%
COWAY Co 021240 96,700 KRW 112,530 KRW +16%
Ecovacs Robotics Co 603486 ¥50.13 ¥54.11 +8%

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Frequently asked questions

Is Index Living Mall Public Company (ILM) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 27.81 THB versus a price of 13.50 THB, about +106% (undervalued).
What is the fair value of ILM?
Our model-based fair value for Index Living Mall Public Company is 27.81 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 13.50 THB.
What is the quality score of ILM?
Index Living Mall Public Company has a Quality Score of 58/100. 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 Index Living Mall Public Company (ILM)?
Index Living Mall Public Company reported trailing-twelve-month revenue of about 10.0B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of ILM?
The net profit margin of Index Living Mall Public Company is about 7.3%, meaning it keeps roughly 7.3% of revenue as net income. Based on the latest reported figures.
Does Index Living Mall Public Company pay a dividend?
Index Living Mall Public Company currently shows a dividend yield of about 7.87% 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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