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Krungthai Card Public Company (KTC) Fair Value & Analysis

Financial Services · TH · Market cap 101B THB

KC Krungthai Card Public Company KTC · BK
Price39.00 THB
Fair Value38.66 THB
Upside-0.9%
Quality73/100
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Healthy Growth
Highly profitable · 40.1% net margin
Moderate debt · generates free cash flow
4.54% dividend yield
Mixed vs. peers (8/15)
Wide moat 78/100
Evidence: High Range 21.24 THB – 82.58 THB Share as image

Fair value as of: Jul 19, 2026

From 13 valuation models · updated 22 days ago

Share price +6.1% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The model range is unusually wide (21.24 THB to 82.58 THB). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

70.98 THB 22.60 THB Fair Value 38.66 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 22.60 THB – 70.98 THB · fair‑value band 21.24 THB – 82.58 THB · the 39.00 THB price screens above the 38.66 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

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Analysis

Krungthai Card Public Company (KTC) currently trades at 39.00 THB, while our model-based Fair Value estimate is 38.66 THB, implying the stock looks roughly 0.9% fairly valued today. The Quality Score stands at 73/100 (solid quality), in the Financial Services 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, Krungthai Card Public Company generated revenue of 20.2B THB at a net margin of 40.1%. Revenue grew 6.9% year over year. It earns a return on equity of 18.0%. Net debt stands at 53.7B THB. Fundamentals as of Jul 19, 2026

Our scenario range runs from 21.24 THB (bear case) to 82.58 THB (bull case); at 39.00 THB, the current price sits within 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 90% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -41% fair-value upside, at -1%, KTC screens cheaper 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 BearBaseBull Evidence
Highest evidence
Growth DCF 32.11 THB 71.14 THB 139.65 THB 80
Residual Income 19.43 THB 24.95 THB 72.55 THB 76
Rev-Margin DCF 9.16 THB 22.97 THB 41.54 THB 74
All 13 models by family
DCF Models
Owner Earnings 26.89 THB 65.28 THB 135.39 THB 31
5Y P/E Exit 18.60 THB 43.04 THB 71.39 THB 38
10Y P/E Exit 22.93 THB 47.30 THB 82.57 THB 35
Earnings-Based
Graham-Dodd 20.22 THB 105.55 THB 146.03 THB 54
Lynch FV 28.94 THB 41.34 THB 53.74 THB 50
Dividend Discount
Gordon GGM 12.12 THB 25.20 THB 39.98 THB 70
DDM Multi-Stage 12.12 THB 21.25 THB 26.45 THB 61
Multiples
P/E Multiple 29.00 THB 38.66 THB 48.33 THB 63
P/B Multiple 17.98 THB 23.97 THB 29.97 THB 55
Asset-Based
NCAV (Graham) 8.56 THB 11.47 THB 17.12 THB 50
Growth DCF
Growth DCF 32.11 THB 71.14 THB 139.65 THB 80
Rev-Margin DCF 9.16 THB 22.97 THB 41.54 THB 74
Economic Profit
Residual Income 19.43 THB 24.95 THB 72.55 THB 76

Widest divergence: DCF Models (47.30 THB) versus Asset-Based (11.47 THB). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 20.2B THB
Revenue growth (YoY) +6.9%
Net margin 40.1%
Return on equity 18.0%
Free cash flow 9.1B THB FY2025
P/E ratio 9.6
More key figures
Operating margin 52.4%
EPS (TTM) 3.14 THB
EPS growth (YoY) +16.7%
Net debt 53.7B THB FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 73/100

Of which business quality 67 · Market factors (momentum, volatility) 88

Profitability 52
Margins and returns on capital today
Quality Growth 69
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 89
Price trend over the last 3–12 months (market factor)
52W Momentum 93
Distance to the 52-week high (market factor)
Net Issuance 100
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

Krungthai Card Public Company Limited engages in the credit card, personal loan, and other related businesses in Thailand. It also involved in the merchant acquiring, payment services, provincial retail lending business, occupational retail lending business, e-money business, and hire purchase and leasing business.

Full company description

Krungthai Card Public Company Limited engages in the credit card, personal loan, and other related businesses in Thailand. It also involved in the merchant acquiring, payment services, provincial retail lending business, occupational retail lending business, e-money business, and hire purchase and leasing business. Krungthai Card Public Company Limited was incorporated in 1996 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Krungthai Card Public Company reported revenue of 24.7B THB in FY2025 versus 18.2B THB in FY2021, a compound +8.0%/yr. Reported net income was 7.7B THB in FY2025, compounding +6.9%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
24.7B THB
Latest YoY
+5.8%
Avg. growth/yr (3Y)
+7.6%
Avg. growth/yr (5Y)
+5.1%
Avg. growth/yr (24Y)
+18.8%
Revenue +8.0%/yr
FY21 18.2B THB
FY22 19.8B THB
FY23 22.2B THB
FY24 23.3B THB
FY25 24.7B THB
Net income +6.9%/yr
FY21 5.9B THB
FY22 7.1B THB
FY23 7.3B THB
FY24 7.4B THB
FY25 7.7B THB

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

Peer Group

Credit Services · 333 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 73 · Top 25%
Fair Value upside −1% · Below median
Return on equity (TTM) 18% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 40% · Top 25%
Operating margin (TTM) 52% · Above median
Revenue growth 7% · Below median
Dividend yield (TTM) 4.5% · Above median
Debt / equity 0.95× · Higher than median

Valuation Multiples vs Credit Services median · lower = cheaper

P/E (TTM) 12.4× · Pricier than median
P/B 2.28× · Pricier than 75% of peers
P/S (TTM) 4.98× · Pricier than median
P/FCF 0.3× · Cheaper than median
EV/EBITDA 11.4× · Cheaper than median
PEG 2.44× · 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 32 · sector 35
FUTURE 35 · sector 39
PAST 72 · sector 32
HEALTH 52 · sector 59
DIVIDEND 91 · sector 51

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 Credit Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Visa Inc V $348.97 $204.19 -41%
Mastercard Incorporated MA $537.70 $221.87 -59%
American Express Company AXP $358.44 $206.40 -42%
Bajaj Finance Limited BAJFINANCE ₹1,056 ₹397.61 -62%
Shriram Finance Limited SHRIRAMFIN ₹1,024 ₹553.83 -46%
Cholamandalam Investment and Finance Company CHOLAFIN ₹1,808 ₹796.52 -56%
Tata Capital Limited TATACAP ₹360.60 ₹229.85 -36%
Power Finance Corporation PFC ₹405.10 ₹810.20 +100%
Muthoot Finance Limited MUTHOOTFIN ₹3,129 ₹3,463 +11%
Indian Railway Finance Corporation IRFC ₹88.41 ₹69.72 -21%

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Frequently asked questions

Is Krungthai Card Public Company (KTC) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 38.66 THB versus a price of 39.00 THB, about −1% (fairly valued).
What is the fair value of KTC?
Our model-based fair value for Krungthai Card Public Company is 38.66 THB (as of Jul 19, 2026), built from audited fundamentals. The current price is 39.00 THB.
What is the quality score of KTC?
Krungthai Card Public Company has a Quality Score of 73/100. 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 Krungthai Card Public Company (KTC)?
Krungthai Card Public Company reported trailing-twelve-month revenue of about 20.2B THB (latest available figure, as of Jul 19, 2026).
What is the net profit margin of KTC?
The net profit margin of Krungthai Card Public Company is about 40.1%, meaning it keeps roughly 40.1% of revenue as net income. 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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