International Research Corporation Public Company Limited (IRCP) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of International Research Corporation Public Company Limited THB 0.40, price THB 0.30, upside +33.3%, quality 28 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 0.2400 THB – 2.29 THB · fair‑value band 0.2600 THB – 0.5000 THB · the 0.3000 THB price screens below the 0.4000 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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International Research Corporation Public Company Limited distributes and renders system development services of information technology, network information, and telecommunication information systems in Thailand. It operates in two segments, Project Business and Non-Project Business.
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International Research Corporation Public Company Limited distributes and renders system development services of information technology, network information, and telecommunication information systems in Thailand. It operates in two segments, Project Business and Non-Project Business. The company is involved in the provision of distribution of information technology products, network equipment, telecommunication information systems, and information technology total service solutions. International Research Corporation Public Company Limited was incorporated in 1986 and is headquartered in Bangkok, Thailand.
Stock analysis
International Research Corporation Public Company Limited (IRCP) currently trades at 0.3000 THB, while our model-based Fair Value estimate is 0.4000 THB, implying the stock looks roughly 25.0% undervalued today.
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Valuation
How firm this estimate is: it rests on 3 models at a data quality of 93/100, which puts the evidence level at low.
Scenario range: 0.2600 THB (bear) to 0.5000 THB (bull), the price of 0.3000 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 28/100 (below-average quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
International Research Corporation Public Company Limited reported revenue of 721M THB in FY2025 versus 730M THB in FY2021, a compound −0.3%/yr. Reported net income was −205M THB in FY2025.
Key figures
Market cap 187M THB (≈ $5.6M) · P/S ratio 0.23 · EPS (TTM) −0.3100 THB · Dividend yield 0.8% · Net margin −28.4% · Return on equity −36.4% · Return on assets (EBIT) 0.9% · Operating margin 4.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 66% fair-value upside, at 33%, IRCP screens richer than that median.
Fair Value models
Bear 0.2600 THBFair Value 0.4000 THBBull 0.5000 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.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.0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−22.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−17.5%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−3.1%
Start year 2020 (pandemic). Over 10 years: −5.2% a year
Revenue growth 22 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−0.1%
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Profit margin (trend) ⓘ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.
7.6% (2020) → −22.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare International Research Corporation 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.Information Technology Services · 490 stocks
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). "International Research Corporation Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/IRCP
Frequently asked questions
Is International Research Corporation Public Company Limited (IRCP) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.4000 THB versus a price of 0.3000 THB, about +33% upside (undervalued).
What is the fair value of IRCP?
Our model-based fair value for International Research Corporation Public Company Limited is 0.4000 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.3000 THB.
What is the quality score of IRCP?
International Research Corporation Public Company Limited has a Quality Score of 28/100. 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 International Research Corporation Public Company Limited (IRCP)?
Our model-based price target is the fair value of 0.4000 THB (as of Sep 24, 2026) from 3 valuation models. Cautious scenario 0.2600 THB, optimistic scenario 0.5000 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the International Research Corporation Public Company Limited stock forecast for 2026?
Our models put fair value at 0.4000 THB, about +33% upside versus a price of 0.3000 THB (undervalued). Cautious scenario 0.2600 THB, optimistic scenario 0.5000 THB. The calculation is refreshed regularly with new filings.
What is the revenue of International Research Corporation Public Company Limited (IRCP)?
International Research Corporation Public Company Limited reported trailing-twelve-month revenue of about 720M THB (latest available figure, as of Sep 24, 2026).
Does International Research Corporation Public Company Limited pay a dividend?
International Research Corporation Public Company Limited currently shows a dividend yield of about 0.79% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of International Research Corporation Public Company Limited (IRCP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For International Research Corporation Public Company Limited it is 0.4000 THB per share (as of Sep 24, 2026), against a price of 0.3000 THB. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is International Research Corporation Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, IRCP trades below its calculated fair value: price 0.3000 THB, fair value 0.4000 THB, a gap of about +33% (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 IRCP?
No. The price is what the market pays today (0.3000 THB); the fair value is what the company's own numbers justify (0.4000 THB). For International Research Corporation Public Company Limited the two are 0.1000 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is International Research Corporation Public Company Limited worth?
The market values International Research Corporation Public Company Limited at about 187M THB (market capitalisation, as of Sep 24, 2026). Per share that is 0.3000 THB; our models calculate a fair value of 0.4000 THB per share.
What do the bullish and bearish scenarios say about IRCP?
Our models span a range for International Research Corporation Public Company Limited: cautious scenario 0.2600 THB, base 0.4000 THB, optimistic 0.5000 THB per share (as of Sep 24, 2026, price 0.3000 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of International Research Corporation Public Company Limited (IRCP)?
Balance-sheet figures for International Research Corporation Public Company Limited (as of Sep 24, 2026): return on equity −36.4%, debt of 0.04 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is IRCP from its 52-week high?
International Research Corporation Public Company Limited trades at 0.3000 THB, about 29% below its 52-week high of 0.4200 THB and 25% above the low of 0.2400 THB (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 0.4000 THB is for.
Which stocks are comparable to International Research Corporation Public Company Limited?
From the same area (Technology) we also value Accenture plc, Tata Consultancy Services Limited, Infosys Limited, HCL Technologies Limited, 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 International Research Corporation Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 0.3000 THB, calculated fair value 0.4000 THB (+33%), Quality Score 28/100, from 3 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 IRCP calculated?
We run International Research Corporation Public Company Limited through 3 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 0.4000 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 14.1 % above its aggregate fair value. International Research Corporation Public Company Limited currently trades 33 % 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 International Research Corporation Public Company Limited (IRCP)?
The closing price on Sep 23, 2026 was 0.3000 THB. Our model-based fair value is 0.4000 THB, about +33% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with International Research Corporation Public Company Limited right now?
The large discount to fair value meets weak quality (28/100). That raises the risk this is a value trap rather than a bargain. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (0.2600 THB to 0.5000 THB) leaves room in how you read the outcome.
Where does the earnings growth of International Research Corporation Public Company Limited (IRCP) come from?
Earnings per share at International Research Corporation Public Company Limited grew −19.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share −10.0 %, EBIT margin −7.4 %, tax rate −0.6 %, residual (interest, one-offs) −2.7 %. 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 International Research Corporation Public Company Limited
How large is the market capitalisation of International Research Corporation Public Company Limited (IRCP)?
The market capitalisation of International Research Corporation Public Company Limited is 187M THB (≈ $5.6M). 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 International Research Corporation Public Company Limited (IRCP)?
The price-to-sales ratio of International Research Corporation Public Company Limited is 0.23 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of International Research Corporation Public Company Limited (IRCP)?
Earnings per share at International Research Corporation Public Company Limited are −0.3100 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of International Research Corporation Public Company Limited (IRCP)?
The dividend yield of International Research Corporation Public Company Limited is 0.8%. 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 International Research Corporation Public Company Limited (IRCP)?
The net margin of International Research Corporation Public Company Limited is −28.4% (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 International Research Corporation Public Company Limited (IRCP)?
The return on equity (ROE) of International Research Corporation Public Company Limited is −36.4% (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 International Research Corporation Public Company Limited (IRCP)?
On an EBIT basis the return on assets of International Research Corporation Public Company Limited is 0.9% (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 International Research Corporation Public Company Limited (IRCP)?
The operating margin of International Research Corporation Public Company Limited is 4.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at International Research Corporation Public Company Limited (IRCP)?
Revenue at International Research Corporation Public Company Limited is growing −1.5% versus a year earlier (3y avg −17.5%). 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 International Research Corporation Public Company Limited (IRCP)?
Earnings per share at International Research Corporation Public Company Limited are growing −30.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does International Research Corporation Public Company Limited (IRCP) generate?
The free cash flow of International Research Corporation Public Company Limited is −43.2M 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 International Research Corporation Public Company Limited (IRCP) carry?
The net debt of International Research Corporation Public Company Limited is 70.8M 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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