Millennium Grp Corp (Asia) (MGC) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Millennium Grp Corp (Asia) THB 19.60, price THB 6.85, upside +186.1%, quality 61 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
41‑month range 2.11 THB – 10.60 THB · fair‑value band 14.70 THB – 26.14 THB · the 6.85 THB price screens below the 19.60 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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Millennium Group Corporation (Asia) Public Company Limited, together with its subsidiaries, sells automobiles, yachts, and spare parts in Thailand. The company buys, sells, rents, and provides services for automotives under various brand names.
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Millennium Group Corporation (Asia) Public Company Limited, together with its subsidiaries, sells automobiles, yachts, and spare parts in Thailand. The company buys, sells, rents, and provides services for automotives under various brand names. It also offers after-sales services, including sale of automotive parts, accessories, body kits, and other products; paint and body repair services; and organizes events and roadshows, as well as long and short-term car rental and chauffeur services under the Sixt Rent a Car brand name. In addition, the company provides IT services, such as infrastructure and application installation and development; consultancy services related to IT; data services; customer contact services; data center services; training and development activities; and digital marketing services comprising marketing strategy planning, campaign development, and communication with external media buyers. Further, it is involved in management consulting services; sale and maintenance of cars, motorcycles, yachts, and boats; aircraft sourcing; after sales services for electric vehicles; computer system installation; telephone system; computer program; human resource development; insurance brokerage, which includes leasing vehicles; and customer acquisition for private jet charter services rental. The company was founded in 1999 and is headquartered in Bangkok, Thailand. Millennium Group Corporation (Asia) Public Company Limited operates as a subsidiary of Tham Holdings Co., Ltd.
Stock analysis
Millennium Grp Corp (Asia) (MGC) currently trades at 6.85 THB, while our model-based Fair Value estimate is 19.60 THB, implying the stock looks roughly 65.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 30.14 THB per share, and 21 of the 25 models we run sit above the 6.85 THB price.
Bear case: the Asset-Based group reads lowest at 3.10 THB, and 4 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: 14.70 THB (bear) to 26.14 THB (bull), the price of 6.85 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 61/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Millennium Grp Corp (Asia) reported revenue of 22.4B THB in FY2025 versus 22.1B THB in FY2021, a compound +0.3%/yr. Reported net income was 1.3B THB in FY2025, compounding +44.1%/yr from FY2021.
Key figures
Market cap 10.8B THB (≈ $323M) · P/E ratio 4.9 · P/S ratio 0.28 · EPS (TTM) 1.39 THB · Dividend yield 3.6% · Net margin 5.7% · Return on equity 32.9% · Return on assets (EBIT) 5.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 138% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 186%, MGC screens cheaper than that median.
Fair Value models
Bear 14.70 THBFair Value 19.60 THBBull 26.14 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 (0.8370 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.
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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+10.7%
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.
−0.9%
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.
+1.0%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in THB (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+35.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+31.7%
Dividend (yield on the price)3.6%
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.2% → 5%
2025 sits 378% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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).
−23.0%
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 −23.9% a year for the price.
Compare Millennium Grp Corp (Asia) with another stock
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.Auto & Truck Dealerships · 106 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Top 25%
Fair Value upside+186% · Top 25%
Profitability
Return on equity (TTM)33% · Top 25%
Return on assets5% · Top 25%
Net margin (TTM)6% · Top 25%
Operating margin (TTM)7% · Top 25%
Growth and dividend
Revenue growth49% · Top 25%
Dividend yield (TTM)3.6% · Below median
Balance sheet
Debt / equity0.07× · Below median
Valuation Multiplesvs Auto & Truck Dealerships median · lower = cheaper
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Is Millennium Grp Corp (Asia) (MGC) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 19.60 THB versus a price of 6.85 THB, about +186% upside (undervalued).
What is the fair value of MGC?
Our model-based fair value for Millennium Grp Corp (Asia) is 19.60 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 6.85 THB.
What is the quality score of MGC?
Millennium Grp Corp (Asia) has a Quality Score of 61/100. 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 Millennium Grp Corp (Asia) (MGC)?
Our model-based price target is the fair value of 19.60 THB (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 14.70 THB, optimistic scenario 26.14 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Millennium Grp Corp (Asia) stock forecast for 2026?
Our models put fair value at 19.60 THB, about +186% upside versus a price of 6.85 THB (undervalued). Cautious scenario 14.70 THB, optimistic scenario 26.14 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Millennium Grp Corp (Asia) (MGC)?
Millennium Grp Corp (Asia) reported trailing-twelve-month revenue of about 24.4B THB (latest available figure, as of Sep 24, 2026).
Does Millennium Grp Corp (Asia) pay a dividend?
Millennium Grp Corp (Asia) currently shows a dividend yield of about 3.65% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Millennium Grp Corp (Asia) (MGC)?
For today's price to be fair in a discounted-cash-flow model, Millennium Grp Corp (Asia) would have to grow free cash flow by -23.0 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MGC use?
Our models discount Millennium Grp Corp (Asia) at 11.6 %: a base by market capitalisation (small), damped by beta 0.47, 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 Millennium Grp Corp (Asia) that is -23.0 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Millennium Grp Corp (Asia) (MGC) delivered so far?
Over the past 5 years revenue at Millennium Grp Corp (Asia) grew +1.1 % a year. The price currently implies -23.0 % 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 Millennium Grp Corp (Asia) (MGC) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Millennium Grp Corp (Asia) (-23.0 % 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 Millennium Grp Corp (Asia) (MGC)?
The free-cash-flow yield on the price is 43.78 %: that much free cash flow Millennium Grp Corp (Asia) produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Millennium Grp Corp (Asia) (MGC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Millennium Grp Corp (Asia) it is 19.60 THB per share (as of Sep 24, 2026), against a price of 6.85 THB. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Millennium Grp Corp (Asia) stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MGC trades below its calculated fair value: price 6.85 THB, fair value 19.60 THB, a gap of about +186% (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 MGC?
No. The price is what the market pays today (6.85 THB); the fair value is what the company's own numbers justify (19.60 THB). For Millennium Grp Corp (Asia) the two are 12.75 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Millennium Grp Corp (Asia) worth?
The market values Millennium Grp Corp (Asia) at about 10.8B THB (market capitalisation, as of Sep 24, 2026). Per share that is 6.85 THB; our models calculate a fair value of 19.60 THB per share.
What do the bullish and bearish scenarios say about MGC?
Our models span a range for Millennium Grp Corp (Asia): cautious scenario 14.70 THB, base 19.60 THB, optimistic 26.14 THB per share (as of Sep 24, 2026, price 6.85 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MGC?
Millennium Grp Corp (Asia) trades at a price-to-earnings ratio of 4.9 (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 19.60 THB is built from several models across several years. Other multiples: P/B 2.1, P/S 0.4, EV/EBITDA 5.7.
How solid is the balance sheet of Millennium Grp Corp (Asia) (MGC)?
Balance-sheet figures for Millennium Grp Corp (Asia) (as of Sep 24, 2026): return on equity 32.9%, debt of 0.07 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is MGC from its 52-week high?
Millennium Grp Corp (Asia) trades at 6.85 THB, about 35% below its 52-week high of 10.60 THB and 138% above the low of 2.88 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 19.60 THB is for.
Which stocks are comparable to Millennium Grp Corp (Asia)?
From the same area (Consumer Cyclical) we also value Carvana Co, Penske Automotive Group, Hotai Motor Co, CarMax, 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 Millennium Grp Corp (Asia) stock attractive at the current price?
The data as of Sep 24, 2026: price 6.85 THB, calculated fair value 19.60 THB (+186%), Quality Score 61/100, from 25 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 MGC calculated?
We run Millennium Grp Corp (Asia) through 25 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 19.60 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 14.0 % above its aggregate fair value. Millennium Grp Corp (Asia) currently trades 186 % 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 Millennium Grp Corp (Asia) (MGC)?
The closing price on Sep 24, 2026 was 6.85 THB. Our model-based fair value is 19.60 THB, about +186% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Millennium Grp Corp (Asia) right now?
The price is below even our cautious bear case (14.70 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 (61/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Millennium Grp Corp (Asia)
How large is the market capitalisation of Millennium Grp Corp (Asia) (MGC)?
The market capitalisation of Millennium Grp Corp (Asia) is 10.8B THB (≈ $323M). 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 Millennium Grp Corp (Asia) (MGC)?
The price-to-sales ratio of Millennium Grp Corp (Asia) is 0.28 (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 Millennium Grp Corp (Asia) (MGC)?
Earnings per share at Millennium Grp Corp (Asia) are 1.39 THB (price ÷ EPS = P/E 4.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Millennium Grp Corp (Asia) (MGC)?
The dividend yield of Millennium Grp Corp (Asia) is 3.6% (payout 18.0%). 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 Millennium Grp Corp (Asia) (MGC)?
The net margin of Millennium Grp Corp (Asia) is 5.7% (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 Millennium Grp Corp (Asia) (MGC)?
The return on equity (ROE) of Millennium Grp Corp (Asia) is 32.9% (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 Millennium Grp Corp (Asia) (MGC)?
On an EBIT basis the return on assets of Millennium Grp Corp (Asia) is 5.2% (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 Millennium Grp Corp (Asia) (MGC)?
The operating margin of Millennium Grp Corp (Asia) is 7.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Millennium Grp Corp (Asia) (MGC)?
Revenue at Millennium Grp Corp (Asia) is growing +48.6% versus a year earlier (3y avg −0.9%). 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 Millennium Grp Corp (Asia) (MGC)?
Earnings per share at Millennium Grp Corp (Asia) are growing +490% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Millennium Grp Corp (Asia) (MGC) carry?
The net debt of Millennium Grp Corp (Asia) is 2.1B THB (fiscal year 2025, ≈ 0.6 yrs of FCF). 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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