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Nation Group (Thailand) PCL (NATION) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Nation Group (Thailand) PCL stock THB 0.03, price THB 0.03, that is 5.6% below the price, quality 29 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Communication Services TH

NG Nation Group (Thailand) PCL logo Thin data Nov 10, 2026

Nation Group (Thailand) PCL

NATION · BK
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Fair value 0.0283 THB · Fairly valued
Moderate debt
Mixed vs. peers (4/10)
Quality 29/100
Weak Growth (revenue 5y −6.3 %/yr in THB)
Loss-making · -4.2% net margin (TTM)
Negative free cash flow
Narrow moat 21/100
Thin data
Estimate⚠ Thinly traded
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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

0.2055 THB 0.0200 THB Fair Value 0.0283 THB Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range 0.0200 THB – 0.2055 THB · fair‑value band 0.0265 THB – 0.0302 THB · the 0.0300 THB price screens above the 0.0283 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.

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Company profile

Nation Group (Thailand) Public Company Limited, together with its subsidiaries, publishes and distributes newspapers in Thailand.

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It operates through four segments: Publishing and Online Advertising and Related Event; Broadcasting and Online Media and Related Event; Online Media and Related Event; and Others.

The company publishes Bangkok Business News, a daily business newspaper; and offers publishing and advertising services through newspapers, online media, and related events.

It also produces and distributes news and educational television programs; delivers news and information through various online media platforms under the Kom Chad Luek, Nation Story, Spring, Khob Sanam, Post Today, Thai News, and The People brand names; and provides media production, distribution, promotion, and commerce, as well as sale of advertising media through ad networks.

In addition, the company engages in event marketing, including events, seminars, and executive training programs; sale of goods and services through digital TV and online media under the HAPPY Shopping brand name; and sale of food and beverage, as well as feature of coffee shops and bakeries under the Nation Coffee brand name.

Further, it is involved in football field rental. The company was formerly known as Nation Multimedia Group Public Company Limited and changed its name to Nation Group (Thailand) Public Company Limited in May 2022.

Nation Group (Thailand) Public Company Limited was founded in 1971 and is headquartered in Bangkok, Thailand.

Stock analysis

Nation Group (Thailand) PCL (NATION) currently trades at 0.0300 THB, while our estimate is 0.0283 THB, so the stock looks roughly fairly valued today (gap 5.9%).

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: 0.0265 THB (bear) to 0.0302 THB (bull), the price of 0.0300 THB sits inside 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 29/100 (below-average quality), in the Communication Services sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Nation Group (Thailand) PCL reported revenue of 918M THB in FY2025 versus 703M THB in FY2021, a compound +6.9%/yr. Reported net income was −151M THB in FY2025.

Key figures

Market cap 531M THB (≈ $15.8M) Micro · P/S ratio 0.57 · Net margin −16.4% · Return on equity −1,238% · Return on assets (EBIT) −32.5% (5-year average) · Operating margin 9.7% · Revenue (TTM) 937M THB · Revenue growth (YoY) +5.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 21 out of 100 (medium confidence).

What moves the price

The share trades about 40% below its 52-week high and 50% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at −6% fair-value upside, at −6%, NATION screens cheaper than that median.

Fair Value

Bear 0.0265 THB Fair Value 0.0283 THB Bull 0.0302 THB
Price 0.0300 THB · Downside -5.6%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 29/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 28
How much profit the company makes from its sales and capital
Quality Growth 89
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 2
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 19
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 33
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

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. 6/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+7.8%
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.
+0.1%
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.
−6.3%
Start year 2020 (pandemic). Over 10 years: −11.2% a year
Revenue growth 20 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.
−6.4%
Profit margin (trend) ⓘ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.
−9.2% (2020) → −17.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Compare Nation Group (Thailand) PCL 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.Publishing · 107 stocks

Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −5.7% · Below median
Profitability
Return on assets −19.1% · Bottom 25%
Net margin (12 months) −4.2% · Bottom 25%
Operating margin (12 months) 9.7% · Above median
Growth and dividend
Revenue growth (quarter YoY) 5.0% · Above median
Balance sheet
Debt / equity 1.27× · Highest 25%

Valuation Multiplesvs Publishing median · lower = cheaper

P/B 5.21× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 0.57× · Cheaper than median
EV/EBITDA 21.2× · Priciest 25%
PEG 0.23× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)26 · sector 46
FUTURE (revenue growth)25 · sector 0
PAST (return on equity)0 · sector 24
HEALTH (low debt)37 · sector 99
DIVIDEND (yield)0 · sector 60

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 Publishing stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Shandong Publishing&Media Co 601019 ¥7.70 ¥11.60 +51% vs NATION
John Wiley & Sons, Inc WLYB $50.25 $61.29 +22% vs NATION
Xinhua Winshare Publishing and Media Co 601811 ¥17.88 ¥21.02 +18% vs NATION
Jiangsu Phoenix Publishing & Media Corporation 601928 ¥9.47 ¥9.14 −3% vs NATION
China South Publishing & Media Group 601098 ¥11.44 ¥10.70 −6% vs NATION
Zhejiang Publishing & Media Co 601921 ¥8.03 ¥7.45 −7% vs NATION
The New York Times Company NYT $72.58 $42.10 −42% vs NATION
China Science Publishing & Media Ltd 601858 ¥20.25 ¥10.07 −50% vs NATION
TX Group TXGN CHF 189.40 CHF 76.93 −59% vs NATION
People.cn CO., LTD 603000 ¥16.63 ¥4.79 −71% vs NATION

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Nation Group (Thailand) PCL: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Nation Group (Thailand) PCL Fair Value". https://www.fairvalue-calculator.com/stock/NATION

Frequently asked questions

Is Nation Group (Thailand) PCL (NATION) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is 0.0283 THB versus a price of 0.0300 THB, about 6% lower (fairly valued).
What is the fair value of NATION?
Our estimate for Nation Group (Thailand) PCL is 0.0283 THB (as of Nov 10, 2026), built from audited fundamentals. The current price: 0.0300 THB.
What is the quality score of NATION?
Nation Group (Thailand) PCL has a Quality Score of 29/100. 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 Nation Group (Thailand) PCL (NATION)?
Our calculated price target is the estimate of 0.0283 THB (as of Nov 10, 2026). Cautious scenario 0.0265 THB, optimistic scenario 0.0302 THB. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Nation Group (Thailand) PCL stock forecast for 2026?
Our estimate puts fair value at 0.0283 THB, about 6% lower versus a price of 0.0300 THB (fairly valued). Cautious scenario 0.0265 THB, optimistic scenario 0.0302 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Nation Group (Thailand) PCL (NATION)?
Nation Group (Thailand) PCL reported trailing-twelve-month revenue of about 937M THB (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Nation Group (Thailand) PCL (NATION)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nation Group (Thailand) PCL it is 0.0283 THB per share (as of Nov 10, 2026), against a price of 0.0300 THB.
Is Nation Group (Thailand) PCL stock overvalued or undervalued in 2026?
As of Nov 10, 2026, NATION trades above its calculated fair value: price 0.0300 THB, fair value 0.0283 THB, a gap of about −6% (fairly valued). 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 NATION?
No. The price is what the market pays today (0.0300 THB); the fair value is what the company's own numbers justify (0.0283 THB). For Nation Group (Thailand) PCL the two are 0.0017 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Nation Group (Thailand) PCL worth?
The market values Nation Group (Thailand) PCL at about 531M THB (market capitalisation, as of Nov 10, 2026). Per share that is 0.0300 THB; our models calculate a fair value of 0.0283 THB per share.
What do the bullish and bearish scenarios say about NATION?
Our models span a range for Nation Group (Thailand) PCL: cautious scenario 0.0265 THB, base 0.0283 THB, optimistic 0.0302 THB per share (as of Nov 10, 2026, price 0.0300 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of NATION?
The PEG ratio of Nation Group (Thailand) PCL is 0.23 (P/E divided by earnings growth, as of Nov 10, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Nation Group (Thailand) PCL (NATION)?
Balance-sheet figures for Nation Group (Thailand) PCL (as of Nov 10, 2026): debt of 1.27 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is NATION from its 52-week high?
Nation Group (Thailand) PCL trades at 0.0300 THB, about 40% below its 52-week high of 0.0500 THB and 50% above the low of 0.0200 THB (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 0.0283 THB is for.
Which stocks are comparable to Nation Group (Thailand) PCL?
From the same area (Communication Services) we also value The New York Times Company, Xinhua Winshare Publishing and Media Co, Jiangsu Phoenix Publishing & Media Corporation, China Science Publishing & Media Ltd, 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 Nation Group (Thailand) PCL stock attractive at the current price?
The data as of Nov 10, 2026: price 0.0300 THB, calculated fair value 0.0283 THB (−6%), Quality Score 29/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Nation Group (Thailand) PCL 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 Nation Group (Thailand) PCL (NATION)?
The closing price on Nov 10, 2026 was 0.0300 THB. Our estimate is 0.0283 THB, about 6% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nation Group (Thailand) PCL right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The models converge in a tight band (0.0265 THB to 0.0302 THB), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Nation Group (Thailand) PCL

How large is the market capitalisation of Nation Group (Thailand) PCL (NATION)?
The market capitalisation of Nation Group (Thailand) PCL is 531M THB (≈ $15.8M). 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 Nation Group (Thailand) PCL (NATION)?
The price-to-sales ratio of Nation Group (Thailand) PCL is 0.57 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Nation Group (Thailand) PCL (NATION)?
The net margin of Nation Group (Thailand) PCL is −16.4% (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 Nation Group (Thailand) PCL (NATION)?
The return on equity (ROE) of Nation Group (Thailand) PCL is −1,238% (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 Nation Group (Thailand) PCL (NATION)?
On an EBIT basis the return on assets of Nation Group (Thailand) PCL is −32.5% (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 Nation Group (Thailand) PCL (NATION)?
The operating margin of Nation Group (Thailand) PCL is 9.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nation Group (Thailand) PCL (NATION)?
Revenue at Nation Group (Thailand) PCL is growing +5.0% versus a year earlier (3y avg +0.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Nation Group (Thailand) PCL (NATION) generate?
The free cash flow of Nation Group (Thailand) PCL is −61.1M THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Nation Group (Thailand) PCL (NATION) carry?
The net debt of Nation Group (Thailand) PCL is 273M THB (fiscal year 2025). 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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