MEB Corp. PCL (MEB) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of MEB Corp. PCL THB 34.69, price THB 10.40, upside +233.6%, quality 62 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
44‑month range 10.40 THB – 38.34 THB · fair‑value band 23.36 THB – 49.27 THB · the 10.40 THB price screens below the 34.69 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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MEB Corporation Public Company Limited engages in distribution and service of e-books in Thailand.
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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.
Stock analysis
MEB Corp. PCL (MEB) currently trades at 10.40 THB, while our model-based Fair Value estimate is 34.69 THB, implying the stock looks roughly 70.0% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 37.90 THB per share, and 24 of the 26 models we run sit above the 10.40 THB price.
Bear case: the Economic Profit group reads lowest at 7.86 THB, and 2 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 23.36 THB (bear) to 49.27 THB (bull), the price of 10.40 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 62/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
MEB Corp. PCL 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.
Key figures
Market cap 3.9B THB (≈ $115M) · P/E ratio 7.9 · P/S ratio 1.51 · EPS (TTM) 1.31 THB · Dividend yield 10.6% · Net margin 19.0% · Return on equity 25.0% · Return on assets (EBIT) 42.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (medium confidence).
What moves the price
The share trades about 35% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −8% fair-value upside, at 234%, MEB screens cheaper than that median.
Fair Value models
Bear 23.36 THBFair Value 34.69 THBBull 49.27 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 (0.1588 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.2%
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.
+7.4%
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.
+16.2%
Start year 2020 (pandemic)
Revenue growth 7 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.
+31.4%
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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.
+1.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.4%
Dividend (yield on the price)10.6%
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.21% → 23%
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).
−15.6%
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 −16.6% a year for the price.
Price, fair value, quality and upside side by side.
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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.Software - Application · 685 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (TTM)25.0% · Top 25%
Return on assets15.3% · Top 25%
Net margin (TTM)18.6% · Top 25%
Operating margin (TTM)24.4% · Top 25%
Growth and dividend
Revenue growth−5.8% · Bottom 25%
Dividend yield (TTM)10.6% · Top 25%
Valuation Multiplesvs Software - Application median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
As of Sep 24, 2026, our model estimates a fair value of 34.69 THB versus a price of 10.40 THB, about +234% upside (undervalued).
What is the fair value of MEB?
Our model-based fair value for MEB Corp. PCL is 34.69 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 10.40 THB.
What is the quality score of MEB?
MEB Corp. PCL 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 price target for MEB Corp. PCL (MEB)?
Our model-based price target is the fair value of 34.69 THB (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 23.36 THB, optimistic scenario 49.27 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the MEB Corp. PCL stock forecast for 2026?
Our models put fair value at 34.69 THB, about +234% upside versus a price of 10.40 THB (undervalued). Cautious scenario 23.36 THB, optimistic scenario 49.27 THB. The calculation is refreshed regularly with new filings.
What is the revenue of MEB Corp. PCL (MEB)?
MEB Corp. PCL reported trailing-twelve-month revenue of about 2.1B THB (latest available figure, as of Sep 24, 2026).
Does MEB Corp. PCL pay a dividend?
MEB Corp. PCL currently shows a dividend yield of about 10.58% relative to its recent price (as of Sep 24, 2026).
What growth is priced into MEB Corp. PCL (MEB)?
For today's price to be fair in a discounted-cash-flow model, MEB Corp. PCL would have to grow free cash flow by -15.6 % 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 +16.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MEB use?
Our models discount MEB Corp. PCL 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 MEB Corp. PCL that is -15.6 % 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 MEB Corp. PCL (MEB) delivered so far?
Over the past 5 years revenue at MEB Corp. PCL grew +16.2 % a year. The price currently implies -15.6 % 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 MEB Corp. PCL (MEB) growing?
The median revenue growth in the sector is +10.3 % a year. That is the yardstick for the growth priced into MEB Corp. PCL (-15.6 % 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 MEB Corp. PCL (MEB)?
The free-cash-flow yield on the price is 14.50 %: that much free cash flow MEB Corp. PCL 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 MEB Corp. PCL (MEB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MEB Corp. PCL it is 34.69 THB per share (as of Sep 24, 2026), against a price of 10.40 THB. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is MEB Corp. PCL stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MEB trades below its calculated fair value: price 10.40 THB, fair value 34.69 THB, a gap of about +234% (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 MEB?
No. The price is what the market pays today (10.40 THB); the fair value is what the company's own numbers justify (34.69 THB). For MEB Corp. PCL the two are 24.29 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is MEB Corp. PCL worth?
The market values MEB Corp. PCL at about 3.9B THB (market capitalisation, as of Sep 24, 2026). Per share that is 10.40 THB; our models calculate a fair value of 34.69 THB per share.
What do the bullish and bearish scenarios say about MEB?
Our models span a range for MEB Corp. PCL: cautious scenario 23.36 THB, base 34.69 THB, optimistic 49.27 THB per share (as of Sep 24, 2026, price 10.40 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MEB?
MEB Corp. PCL trades at a price-to-earnings ratio of 7.9 (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 34.69 THB is built from several models across several years. Other multiples: P/B 2.6, P/S 1.8, EV/EBITDA 4.6.
How solid is the balance sheet of MEB Corp. PCL (MEB)?
Balance-sheet figures for MEB Corp. PCL (as of Sep 24, 2026): return on equity 25.0%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is MEB from its 52-week high?
MEB Corp. PCL trades at 10.40 THB, about 35% below its 52-week high of 15.94 THB and at the low of 10.40 THB (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 34.69 THB is for.
Which stocks are comparable to MEB Corp. PCL?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, 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 MEB Corp. PCL stock attractive at the current price?
The data as of Sep 24, 2026: price 10.40 THB, calculated fair value 34.69 THB (+234%), Quality Score 62/100, 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 MEB calculated?
We run MEB Corp. PCL 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 34.69 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 14.5 % above its aggregate fair value. MEB Corp. PCL currently trades 70 % 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 MEB Corp. PCL (MEB)?
The closing price on Oct 2, 2026 was 10.40 THB. Our model-based fair value is 34.69 THB, about +234% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MEB Corp. PCL right now?
The price is below even our cautious bear case (23.36 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 (62/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (23.36 THB to 49.27 THB) leaves room in how you read the outcome.
Key figures of MEB Corp. PCL
How large is the market capitalisation of MEB Corp. PCL (MEB)?
The market capitalisation of MEB Corp. PCL is 3.9B THB (≈ $115M). 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 MEB Corp. PCL (MEB)?
The price-to-sales ratio of MEB Corp. PCL is 1.51 (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 MEB Corp. PCL (MEB)?
Earnings per share at MEB Corp. PCL are 1.31 THB (price ÷ EPS = P/E 7.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of MEB Corp. PCL (MEB)?
The dividend yield of MEB Corp. PCL is 10.6% (payout 84.0%). 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 MEB Corp. PCL (MEB)?
The net margin of MEB Corp. PCL is 19.0% (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 MEB Corp. PCL (MEB)?
The return on equity (ROE) of MEB Corp. PCL is 25.0% (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 MEB Corp. PCL (MEB)?
On an EBIT basis the return on assets of MEB Corp. PCL is 42.7% (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 MEB Corp. PCL (MEB)?
The operating margin of MEB Corp. PCL is 24.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MEB Corp. PCL (MEB)?
Revenue at MEB Corp. PCL is growing −5.8% versus a year earlier (3y avg +7.4%). 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 MEB Corp. PCL (MEB)?
Earnings per share at MEB Corp. PCL are growing −9.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does MEB Corp. PCL (MEB) hold?
MEB Corp. PCL holds more cash than debt, 1.5B THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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