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Kang Yong Electric Public Company (KYE) Fair Value & Analysis

Consumer Cyclical · TH · Market cap 6.3B THB

KY Kang Yong Electric Public Company KYE · BK
Price291.00 THB
Fair Value282.21 THB
Upside-3.0%
Quality54/100
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Weak Growth
Solidly profitable · 13.1% net margin
generates free cash flow
Mixed vs. peers (7/13)
Narrow moat 34/100
Evidence: High Range 211.65 THB – 352.76 THB Share as image

Fair value as of: Jul 15, 2026

From 21 valuation models · updated 25 days ago

Share price −7.6% over the past month.

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

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 211.65 THB (bear) to 352.76 THB (bull), base 282.21 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 54/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

369.15 THB 247.29 THB Fair Value 282.21 THB Dec 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 247.29 THB – 369.15 THB · fair‑value band 211.65 THB – 352.76 THB · the 291.00 THB price screens above the 282.21 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Kang Yong Electric Public Company (KYE) currently trades at 291.00 THB, while our model-based Fair Value estimate is 282.21 THB, implying the stock looks roughly 3.0% fairly valued today. The Quality Score stands at 54/100 (solid quality), in the Consumer Cyclical 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, Kang Yong Electric Public Company generated revenue of 5.5B THB at a net margin of 11.3%. Revenue grew 12.1% year over year. It earns a return on equity of 6.4%. The balance sheet holds a net cash position of 226M THB. Fundamentals as of Jul 15, 2026

Our scenario range runs from 211.65 THB (bear case) to 352.76 THB (bull case); at 291.00 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 about 8% below its 52-week high and 7% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 16% fair-value upside, at -3%, KYE 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
Residual Income 391.52 THB 405.99 THB 411.94 THB 76
Growth DCF 137.51 THB 180.00 THB 250.36 THB 72
Gordon GGM 156.33 THB 170.37 THB 191.61 THB 70
All 21 models by family
DCF Models
FCF DCF 132.41 THB 176.51 THB 255.63 THB 38
Owner Earnings 379.35 THB 513.79 THB 755.03 THB 31
5Y Revenue Exit 125.26 THB 176.25 THB 250.34 THB 39
5Y EBITDA Exit 90.49 THB 116.08 THB 150.01 THB 41
5Y P/E Exit 324.74 THB 521.50 THB 755.59 THB 38
10Y Revenue Exit 124.29 THB 161.88 THB 202.06 THB 36
10Y EBITDA Exit 106.64 THB 125.52 THB 144.50 THB 37
10Y P/E Exit 245.65 THB 370.55 THB 491.90 THB 35
Earnings-Based
Graham-Dodd 212.14 THB 259.28 THB 291.69 THB 54
Dividend Discount
Gordon GGM 156.33 THB 170.37 THB 191.61 THB 70
DDM Multi-Stage 156.33 THB 193.17 THB 243.46 THB 61
Multiples
P/E Multiple 514.74 THB 686.33 THB 857.91 THB 63
P/S Multiple 211.65 THB 282.21 THB 352.76 THB 58
P/B Multiple 397.76 THB 530.34 THB 662.93 THB 55
EV/EBITDA 71.19 THB 90.96 THB 110.73 THB 54
EV/Revenue 130.33 THB 181.09 THB 231.85 THB 43
Asset-Based
NCAV (Graham) 248.70 THB 333.25 THB 497.40 THB 50
Growth DCF
Growth DCF 137.51 THB 180.00 THB 250.36 THB 72
Rev-Margin DCF 125.26 THB 179.17 THB 245.38 THB 67
Economic Profit
Residual Income 391.52 THB 405.99 THB 411.94 THB 76
Growth Earnings
Growth-Adj P/E 362.85 THB 518.36 THB 673.87 THB 68

Widest divergence: Growth Earnings (518.36 THB) versus Dividend Discount (170.37 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 5.5B THB
Revenue growth (YoY) +12.1%
Net margin 11.3%
Return on equity 6.4%
Free cash flow 258M THB FY2026
P/E ratio 9.7
More key figures
Operating margin 34.5%
EPS (TTM) 31.20 THB
EPS growth (YoY) -24.7%
Net cash 226M THB FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 54 · Market factors (momentum, volatility) 56

Profitability 33
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 82
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

Kang Yong Electric Public Company Limited manufactures and distributes household electrical appliances in Thailand, Japan, and internationally. The company offers home electrical appliances, such as refrigerators, electric fans, ventilating fans, water pumps, and jet towels under the Mitsubishi Electric trade name.

Full company description

Kang Yong Electric Public Company Limited manufactures and distributes household electrical appliances in Thailand, Japan, and internationally. The company offers home electrical appliances, such as refrigerators, electric fans, ventilating fans, water pumps, and jet towels under the Mitsubishi Electric trade name. It also exports its products to approximately 20 countries, including Hong Kong, Taiwan, Australia, New Zealand, Singapore, Malaysia, Central Asia, and the Middle East. The company was formerly known as Kang Yong Electric Manufacturing Co., Ltd. Kang Yong Electric Public Company Limited was founded in 1964 and is based in Bang Phli, Thailand.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Kang Yong Electric Public Company reported revenue of 4.7B THB in FY2026 versus 7.9B THB in FY2022, a compound −12.4%/yr. Reported net income was 618M THB in FY2026, compounding +16.3%/yr from FY2022.

Growth Quality 37/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
4.7B THB
Latest YoY
−23.4%
Avg. growth/yr (3Y) 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.
−17.8%
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.
−10.9%
Avg. growth/yr (23Y) 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.
+0.7%
Revenue −12.4%/yr
FY22 7.9B THB
FY23 8.4B THB
FY24 7.1B THB
FY25 6.1B THB
FY26 4.7B THB
Net income +16.3%/yr
FY22 337M THB
FY23 160M THB
FY24 738M THB
FY25 703M THB
FY26 618M THB
Character of growth · EPS growth decomposed (2014-2025) +0.6 % p.a.
Revenue per share −1.9 pp

of which total revenue −3.0 pp · buybacks/dilution +1.1 pp

EBIT margin +2.1 pp
Tax rate +0.5 pp
Residual (interest, one-offs) +0.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Kang Yong Electric Public Company Fair Value". https://www.fairvalue-calculator.com/stock/KYE

Peer Group

Furnishings, Fixtures & Appliances · 311 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 54 · Above median
Fair Value upside −3% · Above median
Return on equity (TTM) 6% · Above median
Return on assets -1% · Bottom 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) -5% · Bottom 25%
Revenue growth -30% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/E (TTM) 10.2× · Cheaper than 75% of peers
P/B 0.64× · Cheaper than median
P/S (TTM) 1.34× · Pricier than median
P/FCF 0.7× · Cheaper than median
EV/EBITDA 46.6× · 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 29 · sector 22
FUTURE 0 · sector 0
PAST 25 · sector 19
HEALTH 0 · sector 97
DIVIDEND 0 · sector 55

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥82.71 ¥107.22 +30%
Gree Electric Appliances, Inc 000651 ¥38.25 ¥88.02 +130%
Haier Smart Home Co 600690 ¥21.46 ¥36.04 +68%
King Slide Works Co 2059 8,655 TWD 1,917 TWD -78%
Guangdong Songfa Ceramics Co 603268 ¥155.59 ¥38.95 -75%
SharkNinja, Inc SN $154.53 $89.07 -42%
Hisense Home Appliances Group 000921 ¥26.33 ¥48.03 +82%
Zhejiang Supor Co 002032 ¥43.85 ¥44.84 +2%
COWAY Co 021240 96,700 KRW 112,530 KRW +16%
Ecovacs Robotics Co 603486 ¥50.13 ¥54.11 +8%

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Frequently asked questions

Is Kang Yong Electric Public Company (KYE) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 282.21 THB versus a price of 291.00 THB, about −3% (fairly valued).
What is the fair value of KYE?
Our model-based fair value for Kang Yong Electric Public Company is 282.21 THB (as of Jul 15, 2026), built from audited fundamentals. The current price is 291.00 THB.
What is the quality score of KYE?
Kang Yong Electric Public Company has a Quality Score of 54/100. 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 Kang Yong Electric Public Company (KYE)?
Kang Yong Electric Public Company reported trailing-twelve-month revenue of about 5.5B THB (latest available figure, as of Jul 15, 2026).
What is the net profit margin of KYE?
The net profit margin of Kang Yong Electric Public Company is about 11.3%, meaning it keeps roughly 11.3% 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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