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MCOT Public Company Limited (MCOT) Fair Value & Analysis

Communication Services · TH · Market cap 4.2B THB (≈ $127M) · ISIN TH0803010006

What is MCOT Public Company Limited really worth?

MP MCOT Public Company Limited MCOT · BK
Price5.55 THB
Fair Value3.44 THB
Upside−38.0%
Quality54/100

A solid business, but trading 61% above our fair value of 3.44 THB.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −4.9 %/yr)
!Loss-making · -25.5% net margin
!Mixed vs. peers (6/11)
!Narrow moat 14/100
!Evidence only low, so the estimate is less certain
!Weak on future: 6 out of 100
Evidence: Low Range 2.13 THB – 4.75 THB

Fair value as of: Aug 29, 2026

From 7 valuation models · updated 4 days ago

Share price −4.3% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (4.75 THB). The favourable scenario is already priced in.
  • 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 but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (2.13 THB to 4.75 THB) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

9.85 THB 2.26 THB Fair Value 3.44 THB Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range 2.26 THB – 9.85 THB · fair‑value band 2.13 THB – 4.75 THB · the 5.55 THB price screens above the 3.44 THB fair value. Dashed = 300-day average. As of Aug 29, 2026.

Full chart & analysis →

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Analysis

MCOT Public Company Limited (MCOT) currently trades at 5.55 THB, while our model-based Fair Value estimate is 3.44 THB, implying the stock looks roughly 61.3% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Communication Services sector. Bull case: the Asset-Based group reads highest at a median of 6.58 THB per share, and 1 of the 7 models we run sit above the 5.55 THB price. Bear case: the DCF Models group reads lowest at 3.92 THB, and 6 of the 7 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, MCOT Public Company Limited generated revenue of 1.1B THB at a net margin of −25.5%. Revenue grew 1.1% year over year. It earns a return on equity of −4.2%. Net debt stands at 636M THB. Fundamentals as of Aug 29, 2026

Our scenario range runs from 2.13 THB (bear case) to 4.75 THB (bull case); at 5.55 THB, the current price sits above 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 26% below its 52-week high and 103% 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 −38%, MCOT screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF 2.78 THB 3.92 THB 5.97 THB 80
Growth DCF 2.91 THB 4.01 THB 5.83 THB 79
5Y Revenue Exit 2.60 THB 3.92 THB 5.83 THB 72
All 7 models by family
DCF Models
FCF DCF 2.78 THB 3.92 THB 5.97 THB 80
5Y Revenue Exit 2.60 THB 3.92 THB 5.83 THB 72
10Y Revenue Exit 2.57 THB 3.54 THB 4.58 THB 68
Multiples
EV/Revenue 2.73 THB 4.04 THB 5.35 THB 53
Asset-Based
NCAV (Graham) 4.91 THB 6.58 THB 9.82 THB 54
Growth DCF
Growth DCF 2.91 THB 4.01 THB 5.83 THB 79
Rev-Margin DCF 2.60 THB 3.99 THB 5.70 THB 72

Widest divergence: Asset-Based (6.58 THB) versus DCF Models (3.92 THB). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/S ratio 3.75 TTM
EPS (TTM) −0.4200 THB
Net margin −27.8% FY2025
Return on equity −4.2% TTM
Return on assets (EBIT) 0.9% avg 5y
Operating margin −22.1% TTM
More key figures
Growth
Revenue (TTM) 1.1B THB TTM
Revenue growth (YoY) +1.1% 3y avg −6.9%
EPS growth (YoY) +22.6%
Balance sheet & cash flow
Free cash flow 231M THB FY2025
Net debt 636M THB FY2025 · ≈ 2.8 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 55 · Market factors (momentum, volatility) 62

Profitability 2
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 86
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 74
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

MCOT Public Company Limited, together with its subsidiaries, operates in the mass media business in Thailand. It operates through Television and News Services, Radio Services, Engineering Services, and New Business segments.

Full company description

MCOT Public Company Limited, together with its subsidiaries, operates in the mass media business in Thailand. It operates through Television and News Services, Radio Services, Engineering Services, and New Business segments. The company provides digital terrestrial television broadcasting services with channels including general channels in high definition (HD), and children, youth, and family channels in standard definition (SD): one channel, namely Channel 9 MCOT HD, channel number 30. It also provides its services in television media, radio media, and digital media. The company broadcasts in the central and regional areas using the FM and AM systems for a total of 47 stations. The company also operates radio stations, such as FM 95 MHz LTM FM 95 MHz Luk Thung Mahanakorn, FM 96.5 MHz Thinkingradio 96.5, FM 99 MHz Active Radio, FM 100.5 MHz MCOT News FM 100.5, and FM 107 MHz MET 107. In addition, the company offers digital media services through the internet and other platforms; provides advertisements through TV, radio, and digital media; engages in Shop Mania TV shopping, business content, and online photo and video distribution; and operates an academic and training institute that provides a range of mass media training courses and services. MCOT Public Company Limited was founded in 1977 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MCOT Public Company Limited reported revenue of 1.1B THB in FY2025 versus 1.4B THB in FY2021, a compound −5.9%/yr. Reported net income was −308M THB in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.1B THB
Latest YoY
−3.7%
Avg. revenue 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.
−6.9%
Avg. revenue 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.
−4.9%
Avg. revenue growth/yr (20Y) 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.
−5.5%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −5.9%/yr
FY21 1.4B THB
FY22 1.4B THB
FY23 1.3B THB
FY24 1.2B THB
FY25 1.1B THB
Net income
FY21 165M THB
FY22 −68.7M THB
FY23 588M THB
FY24 −316M THB
FY25 −308M THB
Character of growth · EPS growth decomposed (2012-2023) −12.6 % p.a.
Revenue per share −14.0 %

of which total revenue −14.0 % · buybacks/dilution +0.0 %

EBIT margin +8.2 %
Tax rate −0.1 %
Residual (interest, one-offs) −5.9 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

MCOT screens 61% overvalued. Compare with Nexstar Media Group →

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

Peer Group

Broadcasting · 68 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 −38% · Below median
Return on assets −1% · Below median
Net margin (TTM) −26% · Bottom 25%
Operating margin (TTM) −22% · Bottom 25%
Revenue growth 1% · Above median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Broadcasting median · lower = cheaper

P/S (TTM) 0.11× · Cheaper than 75% of peers
P/FCF 0.5× · Cheaper than median
PEG 1.63× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 32
FUTURE6 · sector 0
PAST0 · sector 2
HEALTH98 · sector 96
DIVIDEND0 · sector 71

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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 Broadcasting stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
Nexstar Media Group NXST $185.52 $151.97 −18%
SES S.A SESG €4.90 €18.90 +286%
PT Elang Mahkota Teknologi Tbk, through its subsidiaries, EMTK 500.00 IDR 1,094 IDR +119%
MFE-Mediaforeurope N.V MFEB €3.62 €5.38 +49%
Jiangsu Broadcasting Cable Information Network Corporation 600959 ¥3.10 ¥1.14 −63%
Sun TV Network Limited SUNTV ₹487.90 ₹586.58 +20%
MBC Group 4072 20.41 SAR 19.24 SAR −6%
Métropole Télévision S.A MMT €12.04 €15.96 +33%
Beijing Gehua Catv Network Co 600037 ¥7.15 ¥3.64 −49%
PT Surya Citra Media Tbk, SCMA 216.00 IDR 198.19 IDR −8%

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Frequently asked questions

Is MCOT Public Company Limited (MCOT) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of 3.44 THB versus a price of 5.55 THB, about −38% upside (overvalued).
What is the fair value of MCOT?
Our model-based fair value for MCOT Public Company Limited is 3.44 THB (as of Aug 29, 2026), built from audited fundamentals. The current price: 5.55 THB.
What is the quality score of MCOT?
MCOT Public Company Limited 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 MCOT Public Company Limited (MCOT)?
MCOT Public Company Limited reported trailing-twelve-month revenue of about 1.1B THB (latest available figure, as of Aug 29, 2026).
What is the net profit margin of MCOT?
The net profit margin of MCOT Public Company Limited is about −25.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
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