Kiatnakin Phatra Bank Public Company Limited (KKP) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Kiatnakin Phatra Bank Public Company Limited THB 67.98, price THB 116, upside -41.4%, quality 64 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 31.80 THB – 120.00 THB · fair‑value band 62.85 THB – 93.64 THB · the 116.00 THB price screens above the 67.98 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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Kiatnakin Phatra Bank Public Company Limited, together with its subsidiaries, provides various banking products and services for individual, business, corporate, and institution clients in Thailand. It operates through Commercial Banking Business, Capital Market Business, and Debt Restructuring segments.
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Kiatnakin Phatra Bank Public Company Limited, together with its subsidiaries, provides various banking products and services for individual, business, corporate, and institution clients in Thailand. It operates through Commercial Banking Business, Capital Market Business, and Debt Restructuring segments. The company offers savings and current accounts, and fixed and foreign currency deposits; auto, personal, and home loans; life, health, and other insurance products; wealth invest link products; debit cards; digital banking, foreign exchange, and other services; and investment products. It also provides business banking products, including welfare packages; asset services; and real estate, apartment and hotel, and specialized industrial lending services. In addition, the company offers SME business loans; letters of guarantee; and car auction, PromptPay for legal entities, collection, payment, payroll, e-withholding tax, and other e-banking services. The company was formerly known as Kiatnakin Bank Public Company Limited and changed its name to Kiatnakin Phatra Bank Public Company Limited in August 2020. Kiatnakin Phatra Bank Public Company Limited was founded in 1971 and is headquartered in Bangkok, Thailand.
Stock analysis
Kiatnakin Phatra Bank Public Company Limited (KKP) currently trades at 116.00 THB, while our model-based Fair Value estimate is 67.98 THB, implying the stock looks roughly 70.6% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 89.34 THB per share, and 0 of the 6 models we run sit above the 116.00 THB price.
Bear case: the Asset-Based group reads lowest at 50.43 THB, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: 62.85 THB (bear) to 93.64 THB (bull), the price of 116.00 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 64/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Kiatnakin Phatra Bank Public Company Limited reported revenue of 33.5B THB in FY2025 versus 26.5B THB in FY2021, a compound +6.0%/yr. Reported net income was 5.9B THB in FY2025, compounding −1.6%/yr from FY2021.
Key figures
Market cap 95.9B THB (≈ $2.9B) · P/E ratio 14.0 · P/S ratio 2.47 · EPS (TTM) 8.29 THB · Dividend yield 4.9% · Net margin 17.7% · Return on equity 10.4% · Return on assets (EBIT) 1.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 113% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at −41%, KKP screens richer than that median.
Fair Value models
Bear 62.85 THBFair Value 67.98 THBBull 93.64 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.89 THB per share) are deliberately not added.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.76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+2.6%
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.
+3.1%
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.
+5.8%
Start year 2020 (pandemic). Over 10 years: +5.3% a year
Revenue growth 25 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.
+6.1%
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What shareholders gained per year (last 5 years), in THB ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+5.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.2%
Dividend (yield on the price)4.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.0% vs 6%, slowing
Profit margin 2020 to 2025 ⓘ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.26% → 22%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−2.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−2.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about −4.0% a year for the price and −3.8% for the forecasts.
Compare Kiatnakin Phatra Bank Public Company Limited with another stock
Price, fair value, quality and upside side by side.
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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.Banks - Regional · 1074 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−41% · Bottom 25%
Profitability
Return on equity (TTM)10% · Above median
Return on assets1% · Top 25%
Net margin (TTM)30% · Above median
Operating margin (TTM)49% · Above median
Growth and dividend
Revenue growth18% · Top 25%
Dividend yield (TTM)4.9% · Top 25%
Balance sheet
Debt / equity0.43× · Above median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (TTM)14.0× · Pricier than median
P/B1.48× · Pricier than median
P/S (TTM)4.27× · Pricier than median
P/FCF0.2× · Cheapest 25%
EV/EBITDA16.1× · Priciest 25%
PEG1.62× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 11
FUTURE (revenue growth)92· sector 45
PAST (return on equity)41· sector 41
HEALTH (low debt)78· sector 85
DIVIDEND (yield)98· sector 53
VALUE 0: the price sits above our fair-value range.
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). "Kiatnakin Phatra Bank Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/KKP
Frequently asked questions
Is Kiatnakin Phatra Bank Public Company Limited (KKP) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 67.98 THB versus a price of 116.00 THB, about −41% upside (overvalued).
What is the fair value of KKP?
Our model-based fair value for Kiatnakin Phatra Bank Public Company Limited is 67.98 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 116.00 THB.
What is the quality score of KKP?
Kiatnakin Phatra Bank Public Company Limited has a Quality Score of 64/100. 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 Kiatnakin Phatra Bank Public Company Limited (KKP)?
Our model-based price target is the fair value of 67.98 THB (as of Sep 24, 2026) from 6 valuation models. Cautious scenario 62.85 THB, optimistic scenario 93.64 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Kiatnakin Phatra Bank Public Company Limited stock forecast for 2026?
Our models put fair value at 67.98 THB, about −41% upside versus a price of 116.00 THB (overvalued). Cautious scenario 62.85 THB, optimistic scenario 93.64 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Kiatnakin Phatra Bank Public Company Limited (KKP)?
Kiatnakin Phatra Bank Public Company Limited reported trailing-twelve-month revenue of about 22.5B THB (latest available figure, as of Sep 24, 2026).
Does Kiatnakin Phatra Bank Public Company Limited pay a dividend?
Kiatnakin Phatra Bank Public Company Limited currently shows a dividend yield of about 4.91% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Kiatnakin Phatra Bank Public Company Limited (KKP)?
For today's price to be fair in a discounted-cash-flow model, Kiatnakin Phatra Bank Public Company Limited would have to grow free cash flow by -2.9 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of KKP use?
Our models discount Kiatnakin Phatra Bank Public Company Limited at 10.1 %: a base by market capitalisation (mid), damped by beta 0.28, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Kiatnakin Phatra Bank Public Company Limited that is -2.9 % per year a year over ten years, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Kiatnakin Phatra Bank Public Company Limited (KKP) delivered so far?
Over the past 5 years revenue at Kiatnakin Phatra Bank Public Company Limited grew +5.8 % a year. The price currently implies -2.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Kiatnakin Phatra Bank Public Company Limited (KKP) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Kiatnakin Phatra Bank Public Company Limited (-2.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kiatnakin Phatra Bank Public Company Limited (KKP)?
The free-cash-flow yield on the price is 17.47 %: that much free cash flow Kiatnakin Phatra Bank Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kiatnakin Phatra Bank Public Company Limited (KKP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kiatnakin Phatra Bank Public Company Limited it is 67.98 THB per share (as of Sep 24, 2026), against a price of 116.00 THB. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Kiatnakin Phatra Bank Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KKP trades above its calculated fair value: price 116.00 THB, fair value 67.98 THB, a gap of about −41% (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 KKP?
No. The price is what the market pays today (116.00 THB); the fair value is what the company's own numbers justify (67.98 THB). For Kiatnakin Phatra Bank Public Company Limited the two are 48.02 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Kiatnakin Phatra Bank Public Company Limited worth?
The market values Kiatnakin Phatra Bank Public Company Limited at about 95.9B THB (market capitalisation, as of Sep 24, 2026). Per share that is 116.00 THB; our models calculate a fair value of 67.98 THB per share.
What do the bullish and bearish scenarios say about KKP?
Our models span a range for Kiatnakin Phatra Bank Public Company Limited: cautious scenario 62.85 THB, base 67.98 THB, optimistic 93.64 THB per share (as of Sep 24, 2026, price 116.00 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KKP?
Kiatnakin Phatra Bank Public Company Limited trades at a price-to-earnings ratio of 14.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 67.98 THB is built from several models across several years. Other multiples: PEG 1.6, P/B 1.5, P/S 4.3, EV/EBITDA 16.1.
What is the PEG ratio of KKP?
The PEG ratio of Kiatnakin Phatra Bank Public Company Limited is 1.62 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Kiatnakin Phatra Bank Public Company Limited (KKP)?
Balance-sheet figures for Kiatnakin Phatra Bank Public Company Limited (as of Sep 24, 2026): return on equity 10.4%, debt of 0.43 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is KKP from its 52-week high?
Kiatnakin Phatra Bank Public Company Limited trades at 116.00 THB, about 3% below its 52-week high of 120.00 THB and 113% above the low of 54.55 THB (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 67.98 THB is for.
Which stocks are comparable to Kiatnakin Phatra Bank Public Company Limited?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank 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 Kiatnakin Phatra Bank Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 116.00 THB, calculated fair value 67.98 THB (−41%), Quality Score 64/100, from 6 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 KKP calculated?
We run Kiatnakin Phatra Bank Public Company Limited through 6 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 67.98 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. Kiatnakin Phatra Bank Public Company Limited 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 Kiatnakin Phatra Bank Public Company Limited (KKP)?
The closing price on Sep 23, 2026 was 116.00 THB. Our model-based fair value is 67.98 THB, about −41% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kiatnakin Phatra Bank Public Company Limited right now?
The price sits above even our optimistic bull case (93.64 THB). The favourable scenario is already priced in. Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Kiatnakin Phatra Bank Public Company Limited (KKP) come from?
Earnings per share at Kiatnakin Phatra Bank Public Company Limited grew +4.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.6 %, EBIT margin −0.9 %, tax rate −0.8 %, residual (interest, one-offs) +0.1 %. 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 Kiatnakin Phatra Bank Public Company Limited
How large is the market capitalisation of Kiatnakin Phatra Bank Public Company Limited (KKP)?
The market capitalisation of Kiatnakin Phatra Bank Public Company Limited is 95.9B THB (≈ $2.9B). 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 Kiatnakin Phatra Bank Public Company Limited (KKP)?
The price-to-sales ratio of Kiatnakin Phatra Bank Public Company Limited is 2.47 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kiatnakin Phatra Bank Public Company Limited (KKP)?
Earnings per share at Kiatnakin Phatra Bank Public Company Limited are 8.29 THB (price ÷ EPS = P/E 14.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kiatnakin Phatra Bank Public Company Limited (KKP)?
The dividend yield of Kiatnakin Phatra Bank Public Company Limited is 4.9% (payout 68.8%). 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 Kiatnakin Phatra Bank Public Company Limited (KKP)?
The net margin of Kiatnakin Phatra Bank Public Company Limited is 17.7% (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 Kiatnakin Phatra Bank Public Company Limited (KKP)?
The return on equity (ROE) of Kiatnakin Phatra Bank Public Company Limited is 10.4% (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 Kiatnakin Phatra Bank Public Company Limited (KKP)?
On an EBIT basis the return on assets of Kiatnakin Phatra Bank Public Company Limited is 1.5% (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 Kiatnakin Phatra Bank Public Company Limited (KKP)?
The operating margin of Kiatnakin Phatra Bank Public Company Limited is 48.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kiatnakin Phatra Bank Public Company Limited (KKP)?
Revenue at Kiatnakin Phatra Bank Public Company Limited is growing +18.3% versus a year earlier (3y avg +3.1%). 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 Kiatnakin Phatra Bank Public Company Limited (KKP)?
Earnings per share at Kiatnakin Phatra Bank Public Company Limited are growing +87.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kiatnakin Phatra Bank Public Company Limited (KKP) carry?
The net debt of Kiatnakin Phatra Bank Public Company Limited is 27.1B THB (fiscal year 2025, ≈ 1.6 yrs of FCF). 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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