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MCA_MARKET CONNECTIONS ASIA (MCA) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of MCA_MARKET CONNECTIONS ASIA THB 1.12, price THB 1.28, upside -12.5%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Communication Services · TH

MM Thin data Sep 24, 2026

MCA_MARKET CONNECTIONS ASIA

MCA · BK

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value 1.12 THB · Overvalued (−13%)
!Quality 54/100
!Expensive Growth (revenue 3y +30.0 %/yr)
!Thin margins · 2.4% net margin (TTM)
!Low debt · negative free cash flow
·3.44% dividend yield
✓Ranks above peers (12/13)
!Narrow moat 28/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 17 out of 100
!Weak on past: 27 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

3.63 THB 0.8501 THB Fair Value 1.12 THB Oct 2023 Sep 2026

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

35‑month range 0.8501 THB – 3.63 THB · fair‑value band 1.04 THB – 1.99 THB · the 1.28 THB price screens above the 1.12 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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Company profile

Market Connections Asia Public Company Limited provides event marketing services in Thailand and Singapore. The company operates through three segments: Marketing Services; Distributor; and Printing and Advertising Media.

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Market Connections Asia Public Company Limited provides event marketing services in Thailand and Singapore. The company operates through three segments: Marketing Services; Distributor; and Printing and Advertising Media. It offers shopper engagement, including PC/BA/PtG, merchandising, and in-store activation; field force activation, such as trade activation, sales troop/caravan, brand visibility channel penetration, and distribution expansion; experiential marketing comprising roadshow, troop/commando, and caravan; and event marketing, which includes product launch, press conference, teambuilding, seminar, and corporate party. The company also provides local/retail media research analytics; logistics, such as transportation, set up and pull-out, airfare, and tours and trips; and digital solutions comprising interactive games, onsite to online integration, and online conference. In addition, it engages in packing; product consultancy; distribution of consumers products; and printing and advertising media services. The company was founded in 2011 and is based in Bangkok, Thailand. Market Connections Asia Public Company Limited operates as a subsidiary of Bhakdee 2019 Holding Co., Ltd.

Stock analysis

MCA_MARKET CONNECTIONS ASIA (MCA) currently trades at 1.28 THB, while our model-based Fair Value estimate is 1.12 THB, implying the stock looks roughly 14.3% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 3.38 THB per share, and 11 of the 15 models we run sit above the 1.28 THB price.

Bear case: the Asset-Based group reads lowest at 0.9200 THB, and 4 of the 15 models stay below the price. Evidence for this calculation is low.

Scenario range: 1.04 THB (bear) to 1.99 THB (bull), the price of 1.28 THB sits inside 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 54/100 (solid quality), in the Communication Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

MCA_MARKET CONNECTIONS ASIA reported revenue of 818M THB in FY2026 versus 224M THB in FY2022, a compound +38.2%/yr. Reported net income was 18.5M THB in FY2026, compounding +61.1%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.

Key figures

Market cap 294M THB (≈ $8.8M) · P/E ratio 14.2 · P/S ratio 0.32 · EPS (TTM) 0.0900 THB · Dividend yield 3.4% · Net margin 2.3% · Return on equity 6.6% · Return on assets (EBIT) 7.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 4% below its 52-week high and 45% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 20% fair-value upside, at −13%, MCA screens richer than that median.

Fair Value models

Bear 1.04 THB Fair Value 1.12 THB Bull 1.99 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 2026 figures (about 3 months old). Earnings retained since then (0.0108 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.
Highest evidence
Residual Income 1.06 THB 1.09 THB 1.07 THB 73
EPV 1.00 THB 1.13 THB 1.25 THB 71
ROIC Compounder 1.00 THB 1.13 THB 1.25 THB 69
All 15 models by family
DCF Models
Owner Earnings 1.39 THB 2.87 THB 5.87 THB 68
Earnings-Based
Graham-Dodd 0.5500 THB 3.81 THB 5.34 THB 60
Lynch FV 1.74 THB 2.49 THB 3.24 THB 58
PEG = 1.0 1.74 THB 2.49 THB 3.24 THB 55
EPV 1.00 THB 1.13 THB 1.25 THB 71
Multiples
P/E Multiple 1.32 THB 1.77 THB 2.21 THB 63
P/S Multiple 1.02 THB 1.36 THB 1.71 THB 58
P/B Multiple 1.02 THB 1.36 THB 1.71 THB 55
EV/EBIT 1.56 THB 2.02 THB 2.48 THB 66
EV/EBITDA 1.39 THB 1.80 THB 2.20 THB 67
EV/Revenue 1.22 THB 1.67 THB 2.12 THB 54
Asset-Based
NCAV (Graham) 0.6900 THB 0.9200 THB 1.37 THB 54
Economic Profit
Residual Income 1.06 THB 1.09 THB 1.07 THB 73
ROIC Compounder 1.00 THB 1.13 THB 1.25 THB 69
Growth Earnings
Growth-Adj P/E 2.37 THB 3.38 THB 4.40 THB 65

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Quality Score breakdown

Overall quality 54/100

Of which business quality 56 · Market factors (momentum, volatility) 63

Profitability 51
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 65
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+24.4%
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.
+30.0%
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.
+49.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+46.4%
Dividend (yield on the price)3.4%
Profit margin 2022 to 2026 ⓘ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.2% → 3%

MCA screens 14% overvalued. Compare with AppLovin Corporation →

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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.Advertising Agencies · 197 stocks

Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 54 · Above median
Fair Value upside −13% · Below median
Profitability
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 2% · Above median
Operating margin (TTM) 3% · Above median
Growth and dividend
Revenue growth 30% · Top 25%
Dividend yield (TTM) 3.4% · Above median
Balance sheet
Debt / equity 0.03× · Below median

Valuation Multiplesvs Advertising Agencies median · lower = cheaper

P/E (TTM) 14.2× · Cheaper than median
P/B 0.94× · Cheaper than median
P/S (TTM) 0.34× · Cheaper than median
EV/EBITDA 8.3× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)17 · sector 34
FUTURE (revenue growth)100 · sector 11
PAST (return on equity)27 · sector 9
HEALTH (low debt)99 · sector 98
DIVIDEND (yield)69 · sector 59

Context: sector, industry, market

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

Similar stocks

10 more Advertising Agencies stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
AppLovin Corporation APP $315.25 $346.78 +10%
Publicis Groupe S.A PUB €97.66 €146.36 +50%
Omnicom Group OMC $75.49 $110.54 +46%
Focus Media Information Technology Co 002027 ¥4.75 ¥5.71 +20%
The Trade Desk, Inc TTD $12.68 $47.32 +273%
Leo Group 002131 ¥4.66 ¥1.14 −76%
JCDecaux SE DEC €25.10 €20.99 −16%
WPP plc WPP $25.71 $41.10 +60%
Magnite, Inc MGNI $24.80 $27.28 +10%
Ströer SE SAX €37.22 €41.69 +12%

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MCA_MARKET CONNECTIONS ASIA · Fair Value
1.12 THB −14%Fair Value
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Cite: Fair Value Calculator (2026). "MCA_MARKET CONNECTIONS ASIA Fair Value". https://www.fairvalue-calculator.com/stock/MCA

Frequently asked questions

Is MCA_MARKET CONNECTIONS ASIA (MCA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1.12 THB versus a price of 1.28 THB, about −13% upside (overvalued).
What is the fair value of MCA?
Our model-based fair value for MCA_MARKET CONNECTIONS ASIA is 1.12 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 1.28 THB.
What is the quality score of MCA?
MCA_MARKET CONNECTIONS ASIA 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 price target for MCA_MARKET CONNECTIONS ASIA (MCA)?
Our model-based price target is the fair value of 1.12 THB (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 1.04 THB, optimistic scenario 1.99 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the MCA_MARKET CONNECTIONS ASIA stock forecast for 2026?
Our models put fair value at 1.12 THB, about −13% upside versus a price of 1.28 THB (overvalued). Cautious scenario 1.04 THB, optimistic scenario 1.99 THB. The calculation is refreshed regularly with new filings.
What is the revenue of MCA_MARKET CONNECTIONS ASIA (MCA)?
MCA_MARKET CONNECTIONS ASIA reported trailing-twelve-month revenue of about 874M THB (latest available figure, as of Sep 24, 2026).
Does MCA_MARKET CONNECTIONS ASIA pay a dividend?
MCA_MARKET CONNECTIONS ASIA currently shows a dividend yield of about 3.44% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of MCA_MARKET CONNECTIONS ASIA (MCA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MCA_MARKET CONNECTIONS ASIA it is 1.12 THB per share (as of Sep 24, 2026), against a price of 1.28 THB. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is MCA_MARKET CONNECTIONS ASIA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MCA trades above its calculated fair value: price 1.28 THB, fair value 1.12 THB, a gap of about −13% (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 MCA?
No. The price is what the market pays today (1.28 THB); the fair value is what the company's own numbers justify (1.12 THB). For MCA_MARKET CONNECTIONS ASIA the two are 0.1600 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is MCA_MARKET CONNECTIONS ASIA worth?
The market values MCA_MARKET CONNECTIONS ASIA at about 294M THB (market capitalisation, as of Sep 24, 2026). Per share that is 1.28 THB; our models calculate a fair value of 1.12 THB per share.
What do the bullish and bearish scenarios say about MCA?
Our models span a range for MCA_MARKET CONNECTIONS ASIA: cautious scenario 1.04 THB, base 1.12 THB, optimistic 1.99 THB per share (as of Sep 24, 2026, price 1.28 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MCA?
MCA_MARKET CONNECTIONS ASIA trades at a price-to-earnings ratio of 14.2 (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 1.12 THB is built from several models across several years. Other multiples: P/B 0.9, P/S 0.3, EV/EBITDA 8.3.
How solid is the balance sheet of MCA_MARKET CONNECTIONS ASIA (MCA)?
Balance-sheet figures for MCA_MARKET CONNECTIONS ASIA (as of Sep 24, 2026): return on equity 6.6%, debt of 0.03 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is MCA from its 52-week high?
MCA_MARKET CONNECTIONS ASIA trades at 1.28 THB, about 4% below its 52-week high of 1.33 THB and 45% above the low of 0.8857 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 1.12 THB is for.
Which stocks are comparable to MCA_MARKET CONNECTIONS ASIA?
From the same area (Communication Services) we also value AppLovin Corporation, Publicis Groupe S.A, Omnicom Group, Focus Media Information Technology Co, 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 MCA_MARKET CONNECTIONS ASIA stock attractive at the current price?
The data as of Sep 24, 2026: price 1.28 THB, calculated fair value 1.12 THB (−13%), Quality Score 54/100, from 15 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 MCA calculated?
We run MCA_MARKET CONNECTIONS ASIA through 15 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 1.12 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. MCA_MARKET CONNECTIONS ASIA 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 MCA_MARKET CONNECTIONS ASIA (MCA)?
The closing price on Sep 24, 2026 was 1.28 THB. Our model-based fair value is 1.12 THB, about −13% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MCA_MARKET CONNECTIONS ASIA right now?
Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (1.04 THB to 1.99 THB) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of MCA_MARKET CONNECTIONS ASIA

How large is the market capitalisation of MCA_MARKET CONNECTIONS ASIA (MCA)?
The market capitalisation of MCA_MARKET CONNECTIONS ASIA is 294M THB (≈ $8.8M). 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 MCA_MARKET CONNECTIONS ASIA (MCA)?
The price-to-sales ratio of MCA_MARKET CONNECTIONS ASIA is 0.32 (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 MCA_MARKET CONNECTIONS ASIA (MCA)?
Earnings per share at MCA_MARKET CONNECTIONS ASIA are 0.0900 THB (price ÷ EPS = P/E 14.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of MCA_MARKET CONNECTIONS ASIA (MCA)?
The dividend yield of MCA_MARKET CONNECTIONS ASIA is 3.4% (payout 48.9%). 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 MCA_MARKET CONNECTIONS ASIA (MCA)?
The net margin of MCA_MARKET CONNECTIONS ASIA is 2.3% (fiscal year 2026). 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 MCA_MARKET CONNECTIONS ASIA (MCA)?
The return on equity (ROE) of MCA_MARKET CONNECTIONS ASIA is 6.6% (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 MCA_MARKET CONNECTIONS ASIA (MCA)?
On an EBIT basis the return on assets of MCA_MARKET CONNECTIONS ASIA is 7.3% (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 MCA_MARKET CONNECTIONS ASIA (MCA)?
The operating margin of MCA_MARKET CONNECTIONS ASIA is 3.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MCA_MARKET CONNECTIONS ASIA (MCA)?
Revenue at MCA_MARKET CONNECTIONS ASIA is growing +30.2% versus a year earlier (3y avg +30.0%). 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 MCA_MARKET CONNECTIONS ASIA (MCA)?
Earnings per share at MCA_MARKET CONNECTIONS ASIA are growing −1.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does MCA_MARKET CONNECTIONS ASIA (MCA) generate?
The free cash flow of MCA_MARKET CONNECTIONS ASIA is −14.6M THB (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does MCA_MARKET CONNECTIONS ASIA (MCA) carry?
The net debt of MCA_MARKET CONNECTIONS ASIA is 10.4M THB (fiscal year 2023). 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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