Multibax Public Company (MBAX) Fair Value & Analysis
Consumer Cyclical · TH · Market cap 396M THB
Fair value as of: Jul 16, 2026
From 22 valuation models · updated 25 days ago
Share price +9.8% over the past month.
A solid business, screening 49% undervalued on our models.
What matters now
- The price is below even our cautious bear case (2.36 THB). The market is more pessimistic than our downside scenario.
- Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
60‑month range 1.21 THB – 6.45 THB · fair‑value band 2.36 THB – 3.94 THB · the 2.12 THB price screens below the 3.15 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Multibax Public Company (MBAX) currently trades at 2.12 THB, while our model-based Fair Value estimate is 3.15 THB, implying the stock looks roughly 48.6% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Multibax Public Company generated revenue of 1.6B THB at a net margin of 2.7%. Revenue declined 11.1% year over year. It earns a return on equity of 8.7%. Net debt stands at 648M THB. Fundamentals as of Jul 16, 2026
Our scenario range runs from 2.36 THB (bear case) to 3.94 THB (bull case); at 2.12 THB, the current price sits below 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 18% below its 52-week high and 75% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -22% fair-value upside, at 49%, MBAX 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.
All 22 models by family
Widest divergence: Growth DCF (5.34 THB) versus Asset-Based (1.74 THB). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 77
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
Multibax Public Company Limited engages in the manufacture and distribution of polymer bags in Thailand, North America, Australia, Europe, rest of Asia, and internationally. The company offers food packaging bags, garbage bags, bioplastic bags, and green plastic bags products. The company was incorporated in 1995 and is based in Chonburi, Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Multibax Public Company reported revenue of 1.7B THB in FY2025 versus 1.5B THB in FY2021, a compound +3.8%/yr. Reported net income was 36.9M THB in FY2025, compounding −12.3%/yr from FY2021.
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Peer Group
Packaging & Containers · 272 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.
Valuation Multiples vs Packaging & Containers median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Stora Enso Oyj STER | kr 101.90 | kr 126.39 | +24% |
| ShenZhen YUTO Packaging Technology Co 002831 | ¥29.10 | ¥20.88 | -28% |
| SCG Packaging Public Company SCGP | 29.00 THB | 16.12 THB | -44% |
| AblePrint Technology Co 7734 | 2,850 TWD | 661.69 TWD | -77% |
| PT Fajar Surya Wisesa Tbk, FASW | 5,312 IDR | 1,194 IDR | -78% |
| Taiwan Hon Chuan Enterprise Co 9939 | 132.50 TWD | 127.06 TWD | -4% |
| Time Technoplast Limited TIMETECHNO | ₹206.82 | ₹161.42 | -22% |
| EPL Limited 500135 | ₹222.25 | ₹111.65 | -50% |
| Ton Yi Industrial Corp 9907 | 15.15 TWD | 23.17 TWD | +53% |
| Dongwon Systems Corporation 014820 | 19,330 KRW | 31,473 KRW | +63% |
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Frequently asked questions
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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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