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Namwiwat Medical (NAM) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Namwiwat Medical THB 1.87, price THB 3.22, upside -41.9%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · TH

NM Thin data Sep 24, 2026

Namwiwat Medical

NAM · BK

Weakest SetupStrongly overvalued and low quality.

!Fair value 1.87 THB · Strongly overvalued (−42%)
!Quality 48/100
!Expensive Growth (revenue 3y +19.4 %/yr)
!Thin margins · 4.0% net margin (TTM)
!Low debt · negative free cash flow
·4.04% dividend yield
!Mixed vs. peers (7/13)
!Narrow moat 38/100
!Evidence only low, so the estimate is less certain
!Weak on past: 13 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

6.68 THB 3.20 THB Fair Value 1.87 THB Oct 2023 Sep 2026

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

35‑month range 3.20 THB – 6.68 THB · fair‑value band 1.87 THB – 2.58 THB · the 3.22 THB price screens above the 1.87 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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Company profile

Namwiwat Medical Corporation Public Company Limited manufactures and distributes medical equipment in Thailand. The company offers steam and low temperature sterilizers, instrument washer disinfectors, ultrasonic cleaning systems, and drying cabinets, as well as waste sterilizers.

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Namwiwat Medical Corporation Public Company Limited manufactures and distributes medical equipment in Thailand. The company offers steam and low temperature sterilizers, instrument washer disinfectors, ultrasonic cleaning systems, and drying cabinets, as well as waste sterilizers. It also provides NAMTrack, a central sterile supply department software management product, as well as Air Track. In addition, the company offers air and surface disinfection equipment and air purifiers. Further, it provides medical supplies, disinfection services, medical equipment maintenance services, infectious waste services, and other medical services. The company was founded in 1970 and is based in Samut Prakan, Thailand.

Stock analysis

Namwiwat Medical (NAM) currently trades at 3.22 THB, while our model-based Fair Value estimate is 1.87 THB, implying the stock looks roughly 72.2% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of 4.39 THB per share, and 6 of the 15 models we run sit above the 3.22 THB price.

Bear case: the Asset-Based group reads lowest at 1.91 THB, and 9 of the 15 models stay below the price. Evidence for this calculation is low.

Scenario range: 1.87 THB (bear) to 2.58 THB (bull), the price of 3.22 THB sits above 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 48/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Namwiwat Medical reported revenue of 1.9B THB in FY2026 versus 992M THB in FY2022, a compound +17.2%/yr. Reported net income was 102M THB in FY2026, compounding −12.7%/yr from FY2022.

Key figures

Market cap 2.3B THB (≈ $67.4M) · P/E ratio 32.2 · P/S ratio 1.75 · EPS (TTM) 0.1000 THB · Dividend yield 4.0% · Net margin 5.4% · Return on equity 3.4% · Return on assets (EBIT) 11.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (medium confidence).

What moves the price

The share trades about 20% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 5% fair-value upside, at −42%, NAM screens richer than that median.

Fair Value models

Bear 1.87 THB Fair Value 1.87 THB Bull 2.58 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. 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.
Highest evidence
Residual Income 1.97 THB 1.91 THB 1.61 THB 73
Owner Earnings 2.75 THB 4.39 THB 7.15 THB 72
EPV 2.13 THB 2.28 THB 2.40 THB 71
All 15 models by family
DCF Models
Owner Earnings 2.75 THB 4.39 THB 7.15 THB 72
Earnings-Based
Graham-Dodd 0.9900 THB 6.37 THB 8.91 THB 60
Lynch FV 1.85 THB 2.64 THB 3.43 THB 58
PEG = 1.0 1.85 THB 2.64 THB 3.43 THB 55
EPV 2.13 THB 2.28 THB 2.40 THB 71
Multiples
P/E Multiple 2.39 THB 3.19 THB 3.99 THB 63
P/S Multiple 1.85 THB 2.47 THB 3.08 THB 58
P/B Multiple 1.85 THB 2.47 THB 3.08 THB 55
EV/EBIT 3.71 THB 4.66 THB 5.60 THB 66
EV/EBITDA 4.28 THB 5.42 THB 6.56 THB 67
EV/Revenue 2.90 THB 3.77 THB 4.63 THB 54
Asset-Based
NCAV (Graham) 1.43 THB 1.91 THB 2.86 THB 54
Economic Profit
Residual Income 1.97 THB 1.91 THB 1.61 THB 73
ROIC Compounder 2.13 THB 2.28 THB 2.40 THB 69
Growth Earnings
Growth-Adj P/E 2.66 THB 3.80 THB 4.94 THB 65

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Quality Score breakdown

Overall quality 48/100

Of which business quality 48 · Market factors (momentum, volatility) 41

Profitability 34
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+67.8%
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.
+19.4%
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. Basis: EBIT basis. 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.
−3.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.5%
Dividend (yield on the price)4.0%
Profit margin 2022 to 2026 ⓘ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.23% → 8%

NAM screens 72% overvalued. Compare with Abbott Laboratories, →

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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.Medical Devices · 365 stocks

Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside −42% · Below median
Profitability
Return on equity (TTM) 3% · Above median
Return on assets 2% · Above median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 5% · Below median
Growth and dividend
Revenue growth −30% · Bottom 25%
Dividend yield (TTM) 4.0% · Top 25%
Balance sheet
Debt / equity 0.04× · Below median

Valuation Multiplesvs Medical Devices median · lower = cheaper

P/E (TTM) 32.2× · Pricier than median
P/B 1.13× · Cheaper than median
P/S (TTM) 1.32× · Cheaper than median
EV/EBITDA 11.1× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 10
FUTURE (revenue growth)0 · sector 31
PAST (return on equity)13 · sector 7
HEALTH (low debt)98 · sector 97
DIVIDEND (yield)81 · sector 40

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

Context: sector, industry, market

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 Medical Devices stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $101.07 $74.79 −26%
Medtronic plc MDT $89.30 $65.57 −27%
Stryker Corporation SYK $269.75 $296.73 +10%
Boston Scientific Corporation BSX $44.62 $49.08 +10%
Edwards Lifesciences Corporation EW $86.82 $82.04 −6%
Siemens Healthineers AG SHL €37.21 €35.22 −5%
DexCom, Inc DXCM $87.73 $96.50 +10%
GE HealthCare Technologies Inc GEHC $66.27 $69.62 +5%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥156.68 ¥172.35 +10%
Koninklijke Philips N.V PHIA €21.85 €15.32 −30%

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Namwiwat Medical · Fair Value
1.87 THB −72%Fair Value
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Cite: Fair Value Calculator (2026). "Namwiwat Medical Fair Value". https://www.fairvalue-calculator.com/stock/NAM

Frequently asked questions

Is Namwiwat Medical (NAM) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1.87 THB versus a price of 3.22 THB, about −42% upside (overvalued).
What is the fair value of NAM?
Our model-based fair value for Namwiwat Medical is 1.87 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 3.22 THB.
What is the quality score of NAM?
Namwiwat Medical has a Quality Score of 48/100. 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 Namwiwat Medical (NAM)?
Our model-based price target is the fair value of 1.87 THB (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 1.87 THB, optimistic scenario 2.58 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Namwiwat Medical stock forecast for 2026?
Our models put fair value at 1.87 THB, about −42% upside versus a price of 3.22 THB (overvalued). Cautious scenario 1.87 THB, optimistic scenario 2.58 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Namwiwat Medical (NAM)?
Namwiwat Medical reported trailing-twelve-month revenue of about 1.7B THB (latest available figure, as of Sep 24, 2026).
Does Namwiwat Medical pay a dividend?
Namwiwat Medical currently shows a dividend yield of about 4.04% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Namwiwat Medical (NAM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Namwiwat Medical it is 1.87 THB per share (as of Sep 24, 2026), against a price of 3.22 THB. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Namwiwat Medical stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NAM trades above its calculated fair value: price 3.22 THB, fair value 1.87 THB, a gap of about −42% (overvalued). 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 NAM?
No. The price is what the market pays today (3.22 THB); the fair value is what the company's own numbers justify (1.87 THB). For Namwiwat Medical the two are 1.35 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Namwiwat Medical worth?
The market values Namwiwat Medical at about 2.3B THB (market capitalisation, as of Sep 24, 2026). Per share that is 3.22 THB; our models calculate a fair value of 1.87 THB per share.
What do the bullish and bearish scenarios say about NAM?
Our models span a range for Namwiwat Medical: cautious scenario 1.87 THB, base 1.87 THB, optimistic 2.58 THB per share (as of Sep 24, 2026, price 3.22 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NAM?
Namwiwat Medical trades at a price-to-earnings ratio of 32.2 (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 1.87 THB is built from several models across several years. Other multiples: P/B 1.1, P/S 1.3, EV/EBITDA 11.1.
How solid is the balance sheet of Namwiwat Medical (NAM)?
Balance-sheet figures for Namwiwat Medical (as of Sep 24, 2026): return on equity 3.4%, debt of 0.04 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is NAM from its 52-week high?
Namwiwat Medical trades at 3.22 THB, about 20% below its 52-week high of 4.02 THB and 1% above the low of 3.20 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 1.87 THB is for.
Which stocks are comparable to Namwiwat Medical?
From the same area (Healthcare) we also value Abbott Laboratories,, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, 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 Namwiwat Medical stock attractive at the current price?
The data as of Sep 24, 2026: price 3.22 THB, calculated fair value 1.87 THB (−42%), Quality Score 48/100, from 15 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 NAM calculated?
We run Namwiwat Medical through 15 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 1.87 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. Namwiwat Medical itself currently trades above fair value. 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 Namwiwat Medical (NAM)?
The closing price on Sep 24, 2026 was 3.22 THB. Our model-based fair value is 1.87 THB, about −42% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Namwiwat Medical right now?
The price sits above even our optimistic bull case (2.58 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 (48/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Namwiwat Medical

How large is the market capitalisation of Namwiwat Medical (NAM)?
The market capitalisation of Namwiwat Medical is 2.3B THB (≈ $67.4M). 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 Namwiwat Medical (NAM)?
The price-to-sales ratio of Namwiwat Medical is 1.75 (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 Namwiwat Medical (NAM)?
Earnings per share at Namwiwat Medical are 0.1000 THB (price ÷ EPS = P/E 32.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Namwiwat Medical (NAM)?
The dividend yield of Namwiwat Medical is 4.0% (payout 130%). 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 Namwiwat Medical (NAM)?
The net margin of Namwiwat Medical is 5.4% (fiscal year 2026). 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 Namwiwat Medical (NAM)?
The return on equity (ROE) of Namwiwat Medical is 3.4% (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 Namwiwat Medical (NAM)?
On an EBIT basis the return on assets of Namwiwat Medical is 11.7% (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 Namwiwat Medical (NAM)?
The operating margin of Namwiwat Medical is 5.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Namwiwat Medical (NAM)?
Revenue at Namwiwat Medical is growing −29.9% versus a year earlier (3y avg +19.4%). 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 Namwiwat Medical (NAM)?
Earnings per share at Namwiwat Medical are growing −83.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Namwiwat Medical (NAM) generate?
The free cash flow of Namwiwat Medical is −30.8M THB (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Namwiwat Medical (NAM) carry?
The net debt of Namwiwat Medical is 190M THB (fiscal year 2023). 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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