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King Gen Public Company (KGEN) Fair Value & Analysis

Industrials · TH · Market cap 3.8B THB

KG King Gen Public Company KGEN · BK
Price1.61 THB
Fair Value0.2890 THB
Upside-82.1%
Quality25/100
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Weak Growth
Loss-making · -20.8% net margin
Low debt · negative free cash flow
Trails peers (3/10)
Narrow moat 13/100
Evidence: Low Range 0.2125 THB – 0.4335 THB Share as image

Fair value as of: Jul 17, 2026

From 1 valuation models · updated 24 days ago

Share price −14.8% over the past month.

Below-average quality, and screening another 82% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.4335 THB). The favourable scenario is already priced in.
  • Weak quality (25/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • 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 (0.2125 THB to 0.4335 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

2.84 THB 0.4900 THB Fair Value 0.2890 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 0.4900 THB – 2.84 THB · fair‑value band 0.2125 THB – 0.4335 THB · the 1.61 THB price screens above the 0.2890 THB fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

King Gen Public Company (KGEN) currently trades at 1.61 THB, while our model-based Fair Value estimate is 0.2890 THB, implying the stock looks roughly 82.1% overvalued today. The Quality Score stands at 25/100 (below-average quality), in the Industrials 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: low).

Over the trailing twelve months, King Gen Public Company generated revenue of 723M THB at a net margin of -20.8%. Revenue declined 3.7% year over year. It earns a return on equity of -15.9%. Net debt stands at 180M THB. Fundamentals as of Jul 17, 2026

Our scenario range runs from 0.2125 THB (bear case) to 0.4335 THB (bull case); at 1.61 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 about 17% below its 52-week high and 229% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -28% fair-value upside, at -82%, KGEN 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
NCAV (Graham) 0.2500 THB 0.3400 THB 0.5100 THB 50
All 1 models by family
Asset-Based
NCAV (Graham) 0.2500 THB 0.3400 THB 0.5100 THB 50

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Key figures & financial health

Revenue (TTM) 723M THB
Revenue growth (YoY) -3.7%
Net margin -20.8%
Return on equity -15.9%
Free cash flow −24.7M THB FY2025
Operating margin -2.9%
More key figures
EPS (TTM) -0.0600 THB
Net debt 180M THB FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 25/100

Of which business quality 29 · Market factors (momentum, volatility) 70

Profitability 6
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 77
Price trend over the last 3–12 months (market factor)
52W Momentum 80
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

King Gen Public Company Limited engages in transportation activities in Thailand. It provides passenger and goods transportation services. It also engages in manufacturing activities. The company was formerly known as Nation Broadcasting Corporation Public Company Limited and changed its name to King Gen Public Company Limited in December 2022.

Full company description

King Gen Public Company Limited engages in transportation activities in Thailand. It provides passenger and goods transportation services. It also engages in manufacturing activities. The company was formerly known as Nation Broadcasting Corporation Public Company Limited and changed its name to King Gen Public Company Limited in December 2022. The company was incorporated in 1993 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

King Gen Public Company reported revenue of 718M THB in FY2025 versus 395M THB in FY2021, a compound +16.1%/yr. Reported net income was −136M THB in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
718M THB
Latest YoY
−2.2%
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.
−3.5%
Avg. growth/yr (17Y) 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.
+4.5%
Revenue +16.1%/yr
FY21 395M THB
FY22 156M THB
FY23 487M THB
FY24 734M THB
FY25 718M THB
Net income
FY21 −183M THB
FY22 −58.7M THB
FY23 −37.1M THB
FY24 −184M THB
FY25 −136M THB

KGEN screens 82% overvalued. Compare with Union Pacific Corporation →

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

Peer Group

Railroads · 111 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 29 · Bottom 25%
Fair Value upside −82% · Bottom 25%
Return on assets -4% · Bottom 25%
Net margin (TTM) -21% · Bottom 25%
Operating margin (TTM) -3% · Bottom 25%
Revenue growth -4% · Below median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Railroads median · lower = cheaper

P/B 0.11× · Cheaper than 75% of peers
P/S (TTM) 0.16× · 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 0 · sector 28
FUTURE 0 · sector 20
PAST 0 · sector 31
HEALTH 100 · sector 88
DIVIDEND 0 · sector 41

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 Railroads stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Union Pacific Corporation UNP $301.75 $144.60 -52%
CSX Corporation CSX $49.41 $12.85 -74%
Canadian Pacific Kansas City Limited CP $92.91 $35.00 -62%
Canadian National Railway Company CNI $128.22 $92.63 -28%
Norfolk Southern Corporation NSC $327.47 $117.90 -64%
Westinghouse Air Brake Technologies Corporation WAB $259.71 $144.80 -44%
Beijing-Shanghai High-Speed Railway Co 601816 ¥4.82 ¥5.65 +17%
CRRC Corporation 601766 ¥5.65 ¥9.53 +69%
Daqin Railway Co 601006 ¥4.85 ¥6.24 +29%
Hyundai Rotem Company 064350 167,700 KRW 125,182 KRW -25%

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Frequently asked questions

Is King Gen Public Company (KGEN) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 0.2890 THB versus a price of 1.61 THB, about −82% (overvalued).
What is the fair value of KGEN?
Our model-based fair value for King Gen Public Company is 0.2890 THB (as of Jul 17, 2026), built from audited fundamentals. The current price is 1.61 THB.
What is the quality score of KGEN?
King Gen Public Company has a Quality Score of 25/100. 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 King Gen Public Company (KGEN)?
King Gen Public Company reported trailing-twelve-month revenue of about 723M THB (latest available figure, as of Jul 17, 2026).
What is the net profit margin of KGEN?
The net profit margin of King Gen Public Company is about -20.8%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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