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King Gen PCL (KGEN) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of King Gen PCL THB 0.26, price THB 1.48, upside -82.2%, quality 25 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Industrials · TH

KG Thin data Sep 24, 2026

King Gen PCL

KGEN · BK

Weakest SetupStrongly overvalued and low quality.

!Fair value 0.2635 THB · Strongly overvalued (−82%)
!Quality 25/100
!Weak Growth (revenue 5y −3.5 %/yr)
!Loss-making · -20.8% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (3/10)
!Narrow moat 13/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

2.84 THB 0.4900 THB Fair Value 0.2635 THB Apr 2021 Sep 2026

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 0.4900 THB – 2.84 THB · fair‑value band 0.1955 THB – 0.3995 THB · the 1.48 THB price screens above the 0.2635 THB fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

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.

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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.

Stock analysis

King Gen PCL (KGEN) currently trades at 1.48 THB, while our model-based Fair Value estimate is 0.2635 THB, implying the stock looks roughly 461.8% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 93/100, which puts the evidence level at low.

Scenario range: 0.1955 THB (bear) to 0.3995 THB (bull), the price of 1.48 THB sits above 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 25/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

King Gen PCL 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.

Key figures

Market cap 3.8B THB (≈ $114M) · P/S ratio 5.25 · EPS (TTM) −0.0600 THB · Net margin −18.9% · Return on equity −15.9% · Return on assets (EBIT) −8.7% · Operating margin −2.9% · Revenue (TTM) 723M THB.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 37% below its 52-week high and 190% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 0% fair-value upside, at −82%, KGEN screens richer than that median.

Fair Value models

Bear 0.1955 THB Fair Value 0.2635 THB Bull 0.3995 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.
Highest evidence
NCAV (Graham) 0.2500 THB 0.3400 THB 0.5100 THB 54
All 1 models by family
Asset-Based
NCAV (Graham) 0.2500 THB 0.3400 THB 0.5100 THB 54

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Quality Score breakdown

Overall quality 25/100

Of which business quality 29 · Market factors (momentum, volatility) 61

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 59
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

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
−2.2%
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.
−3.5%
Start year 2020 (pandemic). Over 10 years: −1.4% a year
Revenue growth 17 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.
+4.5%
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.
−0.5% (2020) → −22.9% (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
not computed

KGEN screens 462% overvalued. Compare with Union Pacific Corporation →

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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.Railroads · 115 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −82% · Bottom 25%
Profitability
Return on assets −4% · Bottom 25%
Net margin (TTM) −21% · Bottom 25%
Operating margin (TTM) −3% · Bottom 25%
Growth and dividend
Revenue growth −4% · Below median
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Railroads median · lower = cheaper

P/B 0.11× · Cheapest 25%
P/S (TTM) 0.16× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 24
FUTURE (revenue growth)0 · sector 20
PAST (return on equity)0 · sector 31
HEALTH (low debt)100 · sector 88
DIVIDEND (yield)0 · sector 44

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Railroads stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Union Pacific Corporation UNP $274.41 $153.60 −44%
CSX Corporation CSX $46.59 $12.85 −72%
Canadian Pacific Kansas City Limited CP $87.99 $37.86 −57%
Norfolk Southern Corporation NSC $314.00 $133.01 −58%
Canadian National Railway Company CNI $119.52 $98.68 −17%
Westinghouse Air Brake Technologies Corporation WAB $289.71 $289.60 +0%
Beijing-Shanghai High-Speed Railway Co 601816 ¥4.71 ¥5.65 +20%
CRRC Corporation 601766 ¥5.98 ¥9.53 +59%
Daqin Railway Co 601006 ¥4.71 ¥5.48 +16%
Hyundai Rotem Company 064350 115,900 KRW 127,490 KRW +10%

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King Gen PCL · Fair Value
0.2635 THB −462%Fair Value
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Cite: Fair Value Calculator (2026). "King Gen PCL Fair Value". https://www.fairvalue-calculator.com/stock/KGEN

Frequently asked questions

Is King Gen PCL (KGEN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.2635 THB versus a price of 1.48 THB, about −82% upside (overvalued).
What is the fair value of KGEN?
Our model-based fair value for King Gen PCL is 0.2635 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 1.48 THB.
What is the quality score of KGEN?
King Gen PCL 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 price target for King Gen PCL (KGEN)?
Our model-based price target is the fair value of 0.2635 THB (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 0.1955 THB, optimistic scenario 0.3995 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the King Gen PCL stock forecast for 2026?
Our models put fair value at 0.2635 THB, about −82% upside versus a price of 1.48 THB (overvalued). Cautious scenario 0.1955 THB, optimistic scenario 0.3995 THB. The calculation is refreshed regularly with new filings.
What is the revenue of King Gen PCL (KGEN)?
King Gen PCL reported trailing-twelve-month revenue of about 723M THB (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of King Gen PCL (KGEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For King Gen PCL it is 0.2635 THB per share (as of Sep 24, 2026), against a price of 1.48 THB. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is King Gen PCL stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KGEN trades above its calculated fair value: price 1.48 THB, fair value 0.2635 THB, a gap of about −82% (overvalued). 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 KGEN?
No. The price is what the market pays today (1.48 THB); the fair value is what the company's own numbers justify (0.2635 THB). For King Gen PCL the two are 1.22 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is King Gen PCL worth?
The market values King Gen PCL at about 3.8B THB (market capitalisation, as of Sep 24, 2026). Per share that is 1.48 THB; our models calculate a fair value of 0.2635 THB per share.
What do the bullish and bearish scenarios say about KGEN?
Our models span a range for King Gen PCL: cautious scenario 0.1955 THB, base 0.2635 THB, optimistic 0.3995 THB per share (as of Sep 24, 2026, price 1.48 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of King Gen PCL (KGEN)?
Balance-sheet figures for King Gen PCL (as of Sep 24, 2026): return on equity −15.9%, debt of 0.00 per unit of equity. They feed the Quality Score of 25/100, which measures business quality independently of the share price.
How far is KGEN from its 52-week high?
King Gen PCL trades at 1.48 THB, about 37% below its 52-week high of 2.34 THB and 190% above the low of 0.5100 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.2635 THB is for.
Which stocks are comparable to King Gen PCL?
From the same area (Industrials) we also value Union Pacific Corporation, CSX Corporation, Canadian Pacific Kansas City Limited, Norfolk Southern Corporation, 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 King Gen PCL stock attractive at the current price?
The data as of Sep 24, 2026: price 1.48 THB, calculated fair value 0.2635 THB (−82%), Quality Score 25/100, from 1 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 KGEN calculated?
We run King Gen PCL through 1 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 0.2635 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 13.2 % above its aggregate fair value. King Gen PCL itself currently trades above fair value. 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 King Gen PCL (KGEN)?
The closing price on Sep 24, 2026 was 1.48 THB. Our model-based fair value is 0.2635 THB, about −82% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with King Gen PCL right now?
The price sits above even our optimistic bull case (0.3995 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 (0.1955 THB to 0.3995 THB) leaves room in how you read the outcome.

Key figures of King Gen PCL

How large is the market capitalisation of King Gen PCL (KGEN)?
The market capitalisation of King Gen PCL is 3.8B THB (≈ $114M). 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 King Gen PCL (KGEN)?
The price-to-sales ratio of King Gen PCL is 5.25 (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 King Gen PCL (KGEN)?
Earnings per share at King Gen PCL are −0.0600 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of King Gen PCL (KGEN)?
The net margin of King Gen PCL is −18.9% (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 King Gen PCL (KGEN)?
The return on equity (ROE) of King Gen PCL is −15.9% (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 King Gen PCL (KGEN)?
On an EBIT basis the return on assets of King Gen PCL is −8.7% (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 King Gen PCL (KGEN)?
The operating margin of King Gen PCL is −2.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at King Gen PCL (KGEN)?
Revenue at King Gen PCL is growing −3.7% versus a year earlier (3y avg +66.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does King Gen PCL (KGEN) generate?
The free cash flow of King Gen PCL is −24.7M 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 King Gen PCL (KGEN) carry?
The net debt of King Gen PCL is 180M 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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