Lanna Resources Public Company Limited (LANNA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Lanna Resources Public Company Limited THB 22.59, price THB 14.80, upside +52.6%, quality 65 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 4.64 THB – 16.40 THB · fair‑value band 16.94 THB – 28.24 THB · the 14.80 THB price screens below the 22.59 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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Lanna Resources Public Company Limited, together with its subsidiaries, manufacture and distributes coal. It operates through three segments: Domestic Coal, Overseas Coal, and Ethanol Division. The company also purchases and sells coal; produces and distributes ethanol, and soil amendment substances; and generates and distributes power.
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Lanna Resources Public Company Limited, together with its subsidiaries, manufacture and distributes coal. It operates through three segments: Domestic Coal, Overseas Coal, and Ethanol Division. The company also purchases and sells coal; produces and distributes ethanol, and soil amendment substances; and generates and distributes power. In addition, it is involved in wood pellet production and distribution; and renewable energy, coal trading, and ocean freight transport businesses. It operates in Thailand, India, Singapore, Indonesia, the United Arab Emirates, and China. The company was founded in 1985 and is headquartered in Bangkok, Thailand. Lanna Resources Public Company Limited is a subsidiary of Siam City Cement Public Company Limited.
Stock analysis
Lanna Resources Public Company Limited (LANNA) currently trades at 14.80 THB, while our model-based Fair Value estimate is 22.59 THB, implying the stock looks roughly 34.5% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 49.10 THB per share, and 22 of the 26 models we run sit above the 14.80 THB price.
Bear case: the Earnings-Based group reads lowest at 8.48 THB, and 4 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 16.94 THB (bear) to 28.24 THB (bull), the price of 14.80 THB sits below 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 65/100 (solid quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Lanna Resources Public Company Limited reported revenue of 15.2B THB in FY2025 versus 15.7B THB in FY2021, a compound −0.9%/yr. Reported net income was 698M THB in FY2025, compounding −28.8%/yr from FY2021.
Key figures
Market cap 7.8B THB (≈ $233M) · P/E ratio 12.2 · P/S ratio 0.56 · EPS (TTM) 1.21 THB · Dividend yield 6.8% · Net margin 4.6% · Return on equity 8.7% · Return on assets (EBIT) 32.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 6% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −32% fair-value upside, at 53%, LANNA screens cheaper than that median.
Fair Value models
Bear 16.94 THBFair Value 22.59 THBBull 28.24 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 (0.1536 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−27.1%
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.
−15.6%
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.
+9.8%
Start year 2020 (pandemic). Over 10 years: +4.1% 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.
+11.9%
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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.
+4.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.5%
Dividend (yield on the price)6.8%
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.−3% vs 9%, 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.7% → 11%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−25.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about −26.6% a year for the price.
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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.Thermal Coal · 101 stocks
Beats the industry median on 13/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+53% · Top 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets6% · Top 25%
Net margin (TTM)4% · Below median
Operating margin (TTM)12% · Above median
Growth and dividend
Revenue growth−18% · Bottom 25%
Dividend yield (TTM)6.8% · Top 25%
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Thermal Coal median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Lanna Resources Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/LANNA
Frequently asked questions
Is Lanna Resources Public Company Limited (LANNA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 22.59 THB versus a price of 14.80 THB, about +53% upside (undervalued).
What is the fair value of LANNA?
Our model-based fair value for Lanna Resources Public Company Limited is 22.59 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 14.80 THB.
What is the quality score of LANNA?
Lanna Resources Public Company Limited has a Quality Score of 65/100. 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 Lanna Resources Public Company Limited (LANNA)?
Our model-based price target is the fair value of 22.59 THB (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 16.94 THB, optimistic scenario 28.24 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Lanna Resources Public Company Limited stock forecast for 2026?
Our models put fair value at 22.59 THB, about +53% upside versus a price of 14.80 THB (undervalued). Cautious scenario 16.94 THB, optimistic scenario 28.24 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Lanna Resources Public Company Limited (LANNA)?
Lanna Resources Public Company Limited reported trailing-twelve-month revenue of about 14.5B THB (latest available figure, as of Sep 24, 2026).
Does Lanna Resources Public Company Limited pay a dividend?
Lanna Resources Public Company Limited currently shows a dividend yield of about 6.76% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Lanna Resources Public Company Limited (LANNA)?
For today's price to be fair in a discounted-cash-flow model, Lanna Resources Public Company Limited would have to grow free cash flow by -25.7 % per year for five years (discount rate 14.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of LANNA use?
Our models discount Lanna Resources Public Company Limited at 14.6 %: a base by market capitalisation (micro), 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 Lanna Resources Public Company Limited that is -25.7 % per year a year over ten years, using the same discount rate (14.6 %) and the same formula as our fair value.
How much growth has Lanna Resources Public Company Limited (LANNA) delivered so far?
Over the past 5 years revenue at Lanna Resources Public Company Limited grew +9.8 % a year. The price currently implies -25.7 % 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 Lanna Resources Public Company Limited (LANNA) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Lanna Resources Public Company Limited (-25.7 % 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 Lanna Resources Public Company Limited (LANNA)?
The free-cash-flow yield on the price is 32.51 %: that much free cash flow Lanna Resources Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (14.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Lanna Resources Public Company Limited (LANNA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lanna Resources Public Company Limited it is 22.59 THB per share (as of Sep 24, 2026), against a price of 14.80 THB. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Lanna Resources Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, LANNA trades below its calculated fair value: price 14.80 THB, fair value 22.59 THB, a gap of about +53% (undervalued). 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 LANNA?
No. The price is what the market pays today (14.80 THB); the fair value is what the company's own numbers justify (22.59 THB). For Lanna Resources Public Company Limited the two are 7.79 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Lanna Resources Public Company Limited worth?
The market values Lanna Resources Public Company Limited at about 7.8B THB (market capitalisation, as of Sep 24, 2026). Per share that is 14.80 THB; our models calculate a fair value of 22.59 THB per share.
What do the bullish and bearish scenarios say about LANNA?
Our models span a range for Lanna Resources Public Company Limited: cautious scenario 16.94 THB, base 22.59 THB, optimistic 28.24 THB per share (as of Sep 24, 2026, price 14.80 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LANNA?
Lanna Resources Public Company Limited trades at a price-to-earnings ratio of 12.2 (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 22.59 THB is built from several models across several years. Other multiples: PEG 0.2, P/B 1.0, P/S 0.5, EV/EBITDA 3.2.
What is the PEG ratio of LANNA?
The PEG ratio of Lanna Resources Public Company Limited is 0.18 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Lanna Resources Public Company Limited (LANNA)?
Balance-sheet figures for Lanna Resources Public Company Limited (as of Sep 24, 2026): return on equity 8.7%, debt of 0.02 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is LANNA from its 52-week high?
Lanna Resources Public Company Limited trades at 14.80 THB, about 10% below its 52-week high of 16.40 THB and 6% above the low of 14.00 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 22.59 THB is for.
Which stocks are comparable to Lanna Resources Public Company Limited?
From the same area (Energy) we also value China Shenhua Energy Company, Adani Enterprises Limited, Shaanxi Coal Industry Company, Yankuang Energy Group, 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 Lanna Resources Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 14.80 THB, calculated fair value 22.59 THB (+53%), Quality Score 65/100, from 26 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 LANNA calculated?
We run Lanna Resources Public Company Limited through 26 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 22.59 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 13.0 % above its aggregate fair value. Lanna Resources Public Company Limited currently trades 53 % below its own fair value, and the market average says nothing about that. 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 Lanna Resources Public Company Limited (LANNA)?
The closing price on Sep 24, 2026 was 14.80 THB. Our model-based fair value is 22.59 THB, about +53% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lanna Resources Public Company Limited right now?
The price is below even our cautious bear case (16.94 THB). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Lanna Resources Public Company Limited (LANNA) come from?
Earnings per share at Lanna Resources Public Company Limited grew +17.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.3 %, EBIT margin +11.8 %, tax rate −2.6 %, residual (interest, one-offs) +0.9 %. 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 Lanna Resources Public Company Limited
How large is the market capitalisation of Lanna Resources Public Company Limited (LANNA)?
The market capitalisation of Lanna Resources Public Company Limited is 7.8B THB (≈ $233M). 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 Lanna Resources Public Company Limited (LANNA)?
The price-to-sales ratio of Lanna Resources Public Company Limited is 0.56 (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 Lanna Resources Public Company Limited (LANNA)?
Earnings per share at Lanna Resources Public Company Limited are 1.21 THB (price ÷ EPS = P/E 12.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lanna Resources Public Company Limited (LANNA)?
The dividend yield of Lanna Resources Public Company Limited is 6.8% (payout 82.6%). 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 Lanna Resources Public Company Limited (LANNA)?
The net margin of Lanna Resources Public Company Limited is 4.6% (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 Lanna Resources Public Company Limited (LANNA)?
The return on equity (ROE) of Lanna Resources Public Company Limited is 8.7% (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 Lanna Resources Public Company Limited (LANNA)?
On an EBIT basis the return on assets of Lanna Resources Public Company Limited is 32.3% (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 Lanna Resources Public Company Limited (LANNA)?
The operating margin of Lanna Resources Public Company Limited is 12.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lanna Resources Public Company Limited (LANNA)?
Revenue at Lanna Resources Public Company Limited is growing −17.7% versus a year earlier (3y avg −15.6%). 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 Lanna Resources Public Company Limited (LANNA)?
Earnings per share at Lanna Resources Public Company Limited are growing −26.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Lanna Resources Public Company Limited (LANNA) hold?
Lanna Resources Public Company Limited holds more cash than debt, 1.2B THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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