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MFEC Public Company (MFEC) Fair Value & Analysis

Technology · TH · Market cap 2.7B THB

MP MFEC Public Company MFEC · BK
Price6.35 THB
Fair Value10.64 THB
Upside+67.6%
Quality65/100
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Healthy Growth
Thin margins · 3.6% net margin
Low debt · generates free cash flow
8.13% dividend yield
Ranks above peers (11/15)
Narrow moat 36/100
Evidence: High Range 7.98 THB – 13.30 THB Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 22 days ago

Share price +8.5% over the past month.

A solid business, screening 68% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (7.98 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

8.56 THB 3.36 THB Fair Value 10.64 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 3.36 THB – 8.56 THB · fair‑value band 7.98 THB – 13.30 THB · the 6.35 THB price screens below the 10.64 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

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Analysis

MFEC Public Company (MFEC) currently trades at 6.35 THB, while our model-based Fair Value estimate is 10.64 THB, implying the stock looks roughly 67.6% undervalued today. The Quality Score stands at 65/100 (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: high), always confirm before acting.

Over the trailing twelve months, MFEC Public Company generated revenue of 7.0B THB at a net margin of 3.6%. Revenue grew 4.5% year over year. It earns a return on equity of 9.6%. The balance sheet holds a net cash position of 319M THB. Fundamentals as of Jul 19, 2026

Our scenario range runs from 7.98 THB (bear case) to 13.30 THB (bull case); at 6.35 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 near its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 68%, MFEC 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
Growth DCF 25.74 THB 37.15 THB 53.01 THB 80
Residual Income 5.00 THB 5.43 THB 6.54 THB 76
Rev-Margin DCF 14.14 THB 19.07 THB 24.96 THB 74
All 26 models by family
DCF Models
FCF DCF 25.47 THB 38.58 THB 58.08 THB 38
Owner Earnings 7.88 THB 11.30 THB 16.39 THB 31
5Y Revenue Exit 14.14 THB 18.74 THB 24.26 THB 39
5Y EBITDA Exit 15.20 THB 20.74 THB 26.96 THB 41
5Y P/E Exit 14.76 THB 19.91 THB 25.16 THB 38
10Y Revenue Exit 17.94 THB 23.14 THB 29.62 THB 36
10Y EBITDA Exit 18.80 THB 24.51 THB 31.65 THB 37
10Y P/E Exit 18.52 THB 23.94 THB 30.29 THB 35
Earnings-Based
Graham-Dodd 3.62 THB 11.90 THB 15.91 THB 54
Lynch FV 2.68 THB 3.82 THB 4.97 THB 50
PEG = 1.0 2.68 THB 3.82 THB 4.97 THB 46
EPV 6.50 THB 7.27 THB 7.93 THB 59
Dividend Discount
Gordon GGM 4.39 THB 8.75 THB 13.25 THB 70
DDM Multi-Stage 4.39 THB 7.32 THB 9.24 THB 61
Multiples
P/E Multiple 7.98 THB 10.64 THB 13.30 THB 63
P/S Multiple 6.78 THB 9.04 THB 11.30 THB 58
P/B Multiple 6.78 THB 9.04 THB 11.30 THB 55
EV/EBIT 11.21 THB 14.40 THB 17.58 THB 53
EV/EBITDA 10.41 THB 13.32 THB 16.24 THB 54
EV/Revenue 8.10 THB 10.86 THB 13.62 THB 43
Asset-Based
NCAV (Graham) 2.93 THB 3.92 THB 5.86 THB 50
Growth DCF
Growth DCF 25.74 THB 37.15 THB 53.01 THB 80
Rev-Margin DCF 14.14 THB 19.07 THB 24.96 THB 74
Economic Profit
Residual Income 5.00 THB 5.43 THB 6.54 THB 76
ROIC Compounder 6.67 THB 7.97 THB 9.59 THB 72
Growth Earnings
Growth-Adj P/E 6.76 THB 9.66 THB 12.56 THB 68

Widest divergence: DCF Models (20.74 THB) versus Earnings-Based (3.82 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 7.0B THB
Revenue growth (YoY) +4.5%
Net margin 3.6%
Return on equity 9.6%
Free cash flow 960M THB FY2025
P/E ratio 10.9
More key figures
Operating margin 4.5%
EPS (TTM) 0.5600 THB
Dividend yield 8.1%
EPS growth (YoY) +24.6%
Net cash 319M THB FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 65 · Market factors (momentum, volatility) 79

Profitability 42
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 82
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.

About the company

MFEC Public Company Limited, together with its subsidiaries, provides information technology solutions and services in Thailand. The company operates in four segments: Systems Integration, Maintenance Service, IT Professional Service, and Cloud Computing Service.

Full company description

MFEC Public Company Limited, together with its subsidiaries, provides information technology solutions and services in Thailand. The company operates in four segments: Systems Integration, Maintenance Service, IT Professional Service, and Cloud Computing Service. It offers DataWise services, including modernized databases, intelligent data platform, advanced analytics, artificial intelligence, and database health-check package; and enterprise services, such as digital process automation, customer service solution, and enterprise content management, as well as financial solutions comprising capital market and lending, monitoring solution, customer engagement solution, IT services management solution, and IT automation and robotic solution. The company also provides cybersecurity services, which include network, data, end point, and cloud security, as well as security assessment and DevSecOps; and cloud technologies and hybrid infrastructure services, such as cloud platform, professional, and technical operations services, as well as enterprise networking, wireless and mobility, and network security. In addition, it offers digital transformation and AI adoption services comprising IoT and smart solutions, AI-Lab, and digital sustainability. Further, the company is involved in the provision of electronic payment gateway services; sale and development of computer systems and programs; operation as consultant for network system designing; personnel recruitment and IT system maintenance; research and experimental development on other engineering and technology; investment; and consulting services. It serves the banking/finance, government, telecommunication, and energy/utility industries. The company was incorporated in 1997 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MFEC Public Company reported revenue of 6.9B THB in FY2025 versus 5.2B THB in FY2021, a compound +7.4%/yr. Reported net income was 235M THB in FY2025, compounding −2.2%/yr from FY2021.

Growth Quality 76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
6.9B THB
Latest YoY
+2.1%
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.
+8.3%
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.
+8.1%
Avg. growth/yr (22Y) 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.
+10.7%
Revenue +7.4%/yr
FY21 5.2B THB
FY22 5.4B THB
FY23 6.7B THB
FY24 6.7B THB
FY25 6.9B THB
Net income −2.2%/yr
FY21 257M THB
FY22 235M THB
FY23 681M THB
FY24 272M THB
FY25 235M THB
Character of growth · EPS growth decomposed (2014-2025) +6.2 % p.a.
Revenue per share +6.3 pp

of which total revenue +6.4 pp · buybacks/dilution +0.0 pp

EBIT margin +1.6 pp
Tax rate +1.0 pp
Residual (interest, one-offs) −2.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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

Peer Group

Information Technology Services · 476 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 65 · Top 25%
Fair Value upside +68% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 3% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 5% · Below median
Dividend yield (TTM) 8.1% · Top 25%

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 10.9× · Cheaper than 75% of peers
P/B 1.04× · Cheaper than median
P/S (TTM) 0.39× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 5.2× · Cheaper than 75% of peers
PEG 0.90× · Cheaper than median

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 21
FUTURE 23 · sector 30
PAST 38 · sector 36
HEALTH 100 · sector 97
DIVIDEND 100 · sector 37

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is MFEC Public Company (MFEC) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 10.64 THB versus a price of 6.35 THB, about +68% (undervalued).
What is the fair value of MFEC?
Our model-based fair value for MFEC Public Company is 10.64 THB (as of Jul 19, 2026), built from audited fundamentals. The current price is 6.35 THB.
What is the quality score of MFEC?
MFEC Public Company has a Quality Score of 65/100. 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 MFEC Public Company (MFEC)?
MFEC Public Company reported trailing-twelve-month revenue of about 7.0B THB (latest available figure, as of Jul 19, 2026).
What is the net profit margin of MFEC?
The net profit margin of MFEC Public Company is about 3.6%, meaning it keeps roughly 3.6% of revenue as net income. Based on the latest reported figures.
Does MFEC Public Company pay a dividend?
MFEC Public Company currently shows a dividend yield of about 8.40% relative to its recent price (as of Jul 19, 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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