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MEB Corporation (MEB) Fair Value & Analysis

Technology · TH · Market cap 3.9B THB

MC MEB Corporation MEB · BK
Price12.90 THB
Fair Value26.47 THB
Upside+105.2%
Quality62/100
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Mixed Growth
Solidly profitable · 18.6% net margin
generates free cash flow
8.53% dividend yield
Ranks above peers (11/13)
Wide moat 80/100
Evidence: Medium Range 20.18 THB – 31.81 THB Share as image

Fair value as of: Jul 20, 2026

From 26 valuation models · updated 21 days ago

Share price +1.6% over the past month.

A solid business, screening 105% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (20.18 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (4 years)

38.34 THB 11.30 THB Fair Value 26.47 THB Feb 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

42‑month range 11.30 THB – 38.34 THB · fair‑value band 20.18 THB – 31.81 THB · the 12.90 THB price screens below the 26.47 THB fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

MEB Corporation (MEB) currently trades at 12.90 THB, while our model-based Fair Value estimate is 26.47 THB, implying the stock looks roughly 105.2% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Technology 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: medium), always confirm before acting.

Over the trailing twelve months, MEB Corporation generated revenue of 2.1B THB at a net margin of 18.7%. Revenue declined 5.2% year over year. It earns a return on equity of 25.0%. The balance sheet holds a net cash position of 1.5B THB. Fundamentals as of Jul 20, 2026

Our scenario range runs from 20.18 THB (bear case) to 31.81 THB (bull case); at 12.90 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 34% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 105%, MEB 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.

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 7.80 THB 9.28 THB 26.17 THB 76
Growth DCF 25.27 THB 45.27 THB 76.08 THB 72
Gordon GGM 9.66 THB 19.25 THB 29.15 THB 70
All 26 models by family
DCF Models
FCF DCF 25.96 THB 42.10 THB 82.46 THB 38
Owner Earnings 24.37 THB 44.22 THB 81.62 THB 31
5Y Revenue Exit 20.32 THB 32.85 THB 50.59 THB 39
5Y EBITDA Exit 22.14 THB 36.94 THB 56.52 THB 41
5Y P/E Exit 24.88 THB 43.11 THB 65.45 THB 38
10Y Revenue Exit 21.55 THB 34.52 THB 55.60 THB 36
10Y EBITDA Exit 23.23 THB 37.60 THB 61.51 THB 37
10Y P/E Exit 25.07 THB 42.25 THB 69.47 THB 35
Earnings-Based
Graham-Dodd 9.15 THB 55.65 THB 77.62 THB 54
Lynch FV 15.92 THB 22.74 THB 29.56 THB 50
PEG = 1.0 15.92 THB 22.74 THB 29.56 THB 46
EPV 16.45 THB 18.23 THB 19.77 THB 59
Dividend Discount
Gordon GGM 9.66 THB 19.25 THB 29.15 THB 70
DDM Multi-Stage 9.66 THB 16.64 THB 20.32 THB 61
Multiples
P/E Multiple 20.18 THB 26.91 THB 33.64 THB 63
P/S Multiple 13.26 THB 17.68 THB 22.10 THB 58
P/B Multiple 11.23 THB 14.97 THB 18.72 THB 55
EV/EBIT 26.69 THB 33.86 THB 41.03 THB 53
EV/EBITDA 21.19 THB 26.53 THB 31.87 THB 54
EV/Revenue 17.55 THB 22.85 THB 28.16 THB 43
Asset-Based
NCAV (Graham) 2.50 THB 3.34 THB 4.99 THB 50
Growth DCF
Growth DCF 25.27 THB 45.27 THB 76.08 THB 72
Rev-Margin DCF 20.32 THB 32.41 THB 49.52 THB 67
Economic Profit
Residual Income 7.80 THB 9.28 THB 26.17 THB 76
ROIC Compounder 16.45 THB 18.23 THB 19.77 THB 67
Growth Earnings
Growth-Adj P/E 22.50 THB 32.14 THB 41.78 THB 68

Widest divergence: DCF Models (37.60 THB) versus Asset-Based (3.34 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.1B THB
Revenue growth (YoY) -5.8%
Net margin 18.6%
Return on equity 25.0%
Free cash flow 452M THB FY2025
P/E ratio 9.8
More key figures
Operating margin 24.4%
EPS (TTM) 1.31 THB
Dividend yield 8.5%
EPS growth (YoY) -9.9%
Net cash 1.5B THB FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 64 · Market factors (momentum, volatility) 44

Profitability 82
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 40
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

MEB Corporation Public Company Limited engages in distribution and service of e-books in Thailand. The company offers meb, an online literature platform that offers E-Books, including novels, translated novels, comics, non-fiction, magazines, and newspapers, as well as audio books and a meb Buffet service for members who enjoy a variety of literature from …

Full company description

MEB Corporation Public Company Limited engages in distribution and service of e-books in Thailand. The company offers meb, an online literature platform that offers E-Books, including novels, translated novels, comics, non-fiction, magazines, and newspapers, as well as audio books and a meb Buffet service for members who enjoy a variety of literature from publishers and independent authors; and readAwrite, an online platform and application for reading and writing online novels. It also provides Hibrary, an E-library system for organizations and their employee; E-reader, an electronic book reader that is a portable device for reading E-Books, as well as engages in the computer system inspection and consulting, and provision of advisory services on problems and knowledge on information technology security. The company was incorporated in 2022 and is headquartered in Nonthaburi, Thailand. MEB Corporation Public Company Limited is a subsidiary of B2S Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MEB Corporation reported revenue of 2.1B THB in FY2025 versus 1.4B THB in FY2021, a compound +10.1%/yr. Reported net income was 404M THB in FY2025, compounding +10.1%/yr from FY2021.

Growth Quality 94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.1B THB
Latest YoY
−2.2%
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.
+7.4%
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.
+16.2%
Avg. growth/yr (7Y) 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.
+31.4%
Revenue +10.1%/yr
FY21 1.4B THB
FY22 1.7B THB
FY23 1.9B THB
FY24 2.2B THB
FY25 2.1B THB
Net income +10.1%/yr
FY21 275M THB
FY22 330M THB
FY23 386M THB
FY24 440M THB
FY25 404M THB

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Cite: Fair Value Calculator (2026). "MEB Corporation Fair Value". https://www.fairvalue-calculator.com/stock/MEB

Peer Group

Software - Application · 709 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 62 · Above median
Fair Value upside +105% · Top 25%
Return on equity (TTM) 25% · Top 25%
Return on assets 15% · Top 25%
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 24% · Top 25%
Revenue growth -6% · Bottom 25%
Dividend yield (TTM) 8.5% · Top 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 9.8× · Cheaper than 75% of peers
P/B 2.58× · Pricier than median
P/S (TTM) 1.84× · Cheaper than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 4.6× · Cheaper 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 100 · sector 0
FUTURE 0 · sector 38
PAST 100 · sector 13
HEALTH 0 · sector 98
DIVIDEND 100 · sector 28

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is MEB Corporation (MEB) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 26.47 THB versus a price of 12.90 THB, about +105% (undervalued).
What is the fair value of MEB?
Our model-based fair value for MEB Corporation is 26.47 THB (as of Jul 20, 2026), built from audited fundamentals. The current price is 12.90 THB.
What is the quality score of MEB?
MEB Corporation has a Quality Score of 62/100. 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 MEB Corporation (MEB)?
MEB Corporation reported trailing-twelve-month revenue of about 2.1B THB (latest available figure, as of Jul 20, 2026).
What is the net profit margin of MEB?
The net profit margin of MEB Corporation is about 18.7%, meaning it keeps roughly 18.7% of revenue as net income. Based on the latest reported figures.
Does MEB Corporation pay a dividend?
MEB Corporation currently shows a dividend yield of about 9.48% relative to its recent price (as of Jul 20, 2026).

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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