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Infraset Public Company (INSET) Fair Value & Analysis

Technology · TH · Market cap 3.7B THB

IP Infraset Public Company INSET · BK
Price4.48 THB
Fair Value0.7500 THB
Upside-83.3%
Quality58/100
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Weak Growth
Thin margins · 4.4% net margin
Low debt · generates free cash flow
0.92% dividend yield
Mixed vs. peers (6/14)
Narrow moat 37/100
Evidence: High Range 0.5600 THB – 0.9300 THB Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 29 days ago

Share price −2.2% over the past month.

A solid business, but screening 83% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.9300 THB). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

7.39 THB 1.41 THB Fair Value 0.7500 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 1.41 THB – 7.39 THB · fair‑value band 0.5600 THB – 0.9300 THB · the 4.48 THB price screens above the 0.7500 THB fair value. Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

Infraset Public Company (INSET) currently trades at 4.48 THB, while our model-based Fair Value estimate is 0.7500 THB, implying the stock looks roughly 83.3% overvalued today. The Quality Score stands at 58/100 (solid 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, Infraset Public Company generated revenue of 1.5B THB at a net margin of 4.4%. Revenue grew 119.8% year over year. It earns a return on equity of 4.6%. Net debt stands at 51.8M THB. Fundamentals as of Jul 12, 2026

Our scenario range runs from 0.5600 THB (bear case) to 0.9300 THB (bull case); at 4.48 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 near its 52-week high and 218% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at -83%, INSET screens richer 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 3.77 THB 6.09 THB 9.64 THB 80
Residual Income 1.22 THB 1.19 THB 0.9700 THB 76
Rev-Margin DCF 1.50 THB 1.97 THB 2.56 THB 74
All 26 models by family
DCF Models
FCF DCF 3.77 THB 6.21 THB 10.04 THB 38
Owner Earnings 0.5100 THB 0.8700 THB 1.42 THB 31
5Y Revenue Exit 1.50 THB 1.91 THB 2.36 THB 39
5Y EBITDA Exit 1.60 THB 2.10 THB 2.64 THB 41
5Y P/E Exit 1.67 THB 2.24 THB 2.83 THB 38
10Y Revenue Exit 2.27 THB 2.88 THB 3.61 THB 36
10Y EBITDA Exit 2.35 THB 3.02 THB 3.84 THB 37
10Y P/E Exit 2.39 THB 3.12 THB 3.98 THB 35
Earnings-Based
Graham-Dodd 0.3000 THB 1.16 THB 1.57 THB 54
Lynch FV 0.2800 THB 0.4000 THB 0.5300 THB 50
PEG = 1.0 0.2800 THB 0.4000 THB 0.5300 THB 46
EPV 0.1900 THB 0.2300 THB 0.2600 THB 59
Dividend Discount
Gordon GGM 0.7100 THB 1.42 THB 2.14 THB 70
DDM Multi-Stage 0.7100 THB 1.22 THB 1.49 THB 61
Multiples
P/E Multiple 0.6600 THB 0.8800 THB 1.10 THB 63
P/S Multiple 0.5600 THB 0.7500 THB 0.9300 THB 58
P/B Multiple 0.5600 THB 0.7500 THB 0.9300 THB 55
EV/EBIT 0.4600 THB 0.6300 THB 0.8000 THB 53
EV/EBITDA 0.4900 THB 0.6700 THB 0.8500 THB 54
EV/Revenue 0.3000 THB 0.4500 THB 0.5900 THB 43
Asset-Based
NCAV (Graham) 0.8600 THB 1.15 THB 1.72 THB 50
Growth DCF
Growth DCF 3.77 THB 6.09 THB 9.64 THB 80
Rev-Margin DCF 1.50 THB 1.97 THB 2.56 THB 74
Economic Profit
Residual Income 1.22 THB 1.19 THB 0.9700 THB 76
ROIC Compounder 0.1900 THB 0.2300 THB 0.2600 THB 72
Growth Earnings
Growth-Adj P/E 0.5000 THB 0.7100 THB 0.9200 THB 68

Widest divergence: DCF Models (2.24 THB) versus Economic Profit (0.2300 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.5B THB
Revenue growth (YoY) +120%
Net margin 4.4%
Return on equity 4.6%
Free cash flow 267M THB FY2025
P/E ratio 40.5
More key figures
Operating margin 8.3%
EPS (TTM) 0.0800 THB
Dividend yield 1.2%
EPS growth (YoY) +300%
Net debt 51.8M THB FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 60 · Market factors (momentum, volatility) 89

Profitability 24
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 95
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 98
Distance to the 52-week high (market factor)
Net Issuance 81
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

Infraset Public Company Limited constructs data centers, information technology system, and telecommunications and transportation network infrastructure in Thailand. It offers maintenance and service, trading telecom and hardware IT equipment, and application services.

Full company description

Infraset Public Company Limited constructs data centers, information technology system, and telecommunications and transportation network infrastructure in Thailand. It offers maintenance and service, trading telecom and hardware IT equipment, and application services. The company is also involved in design, construction, installation, and long-term maintenance services. Infraset Public Company Limited was incorporated in 2006 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Infraset Public Company reported revenue of 1.1B THB in FY2025 versus 1.3B THB in FY2021, a compound −3.4%/yr. Reported net income was 35.3M THB in FY2025, compounding −32.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.1B THB
Latest YoY
−41.2%
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.
−4.4%
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.
−5.3%
Avg. growth/yr (10Y) 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.
+8.6%
Revenue −3.4%/yr
FY21 1.3B THB
FY22 1.3B THB
FY23 1.6B THB
FY24 1.9B THB
FY25 1.1B THB
Net income −32.6%/yr
FY21 171M THB
FY22 106M THB
FY23 109M THB
FY24 88.9M THB
FY25 35.3M THB
Character of growth · EPS growth decomposed (2015-2025) −16.3 % p.a.
Revenue per share −9.4 pp

of which total revenue +14.4 pp · buybacks/dilution −23.8 pp

EBIT margin −7.6 pp
Tax rate +0.0 pp
Residual (interest, one-offs) +0.6 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).

INSET screens 83% overvalued. Compare with International Business Machines Corporation →

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

Peer Group

Information Technology Services · 475 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 −83% · Bottom 25%
Return on equity (TTM) 5% · Below median
Return on assets 2% · Below median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 120% · Top 25%
Dividend yield (TTM) 0.9% · Below median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 57.3× · Pricier than 75% of peers
P/B 2.66× · Pricier than median
P/S (TTM) 2.42× · Pricier than 75% of peers
P/FCF 0.4× · Cheaper than median
EV/EBITDA 38.0× · 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 21
FUTURE 100 · sector 31
PAST 19 · sector 37
HEALTH 98 · sector 97
DIVIDEND 18 · sector 37

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is Infraset Public Company (INSET) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 0.7500 THB versus a price of 4.48 THB, about −83% (overvalued).
What is the fair value of INSET?
Our model-based fair value for Infraset Public Company is 0.7500 THB (as of Jul 12, 2026), built from audited fundamentals. The current price is 4.48 THB.
What is the quality score of INSET?
Infraset 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 Infraset Public Company (INSET)?
Infraset Public Company reported trailing-twelve-month revenue of about 1.5B THB (latest available figure, as of Jul 12, 2026).
What is the net profit margin of INSET?
The net profit margin of Infraset Public Company is about 4.4%, meaning it keeps roughly 4.4% of revenue as net income. Based on the latest reported figures.
Does Infraset Public Company pay a dividend?
Infraset Public Company currently shows a dividend yield of about 1.20% relative to its recent price (as of Jul 12, 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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