Nation Group (Thailand) PCL (NATION) fair value: what the stock is really worth
We calculate from audited financials what Nation Group (Thailand) PCL is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
Valuation from Jun 24, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
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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 Jun 24, 2026.
How to read this chart
60‑month range 0.0200 THB – 0.2055 THB · fair‑value band 0.0200 THB – 0.0300 THB · the 0.0400 THB price screens above the 0.0200 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. Dashed = 300-day average. As of Jun 24, 2026.
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Nation Group (Thailand) Public Company Limited, together with its subsidiaries, publishes and distributes newspapers in Thailand. 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.
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Nation Group (Thailand) Public Company Limited, together with its subsidiaries, publishes and distributes newspapers in Thailand. 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 0.0400 THB, while our model-based Fair Value estimate is 0.0200 THB, implying the stock looks roughly 100.0% overvalued today.
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: 0.0200 THB (bear) to 0.0300 THB (bull), the price of 0.0400 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 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 708M THB (≈ $21.2M) · P/S ratio 0.76 · EPS (TTM) −0.0100 THB · Net margin −16.4% · Return on equity −1,238% · Return on assets (EBIT) −32.5% · Operating margin −17.2% · Revenue (TTM) 926M THB.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at −50%, NATION screens richer than that median.
Fair Value models
Bear 0.0200 THBFair Value 0.0200 THBBull 0.0300 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.
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%
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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
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 · 108 stocks
Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside−50% · Bottom 25%
Profitability
Return on assets−6% · Bottom 25%
Net margin (TTM)−11% · Bottom 25%
Operating margin (TTM)−17% · Bottom 25%
Growth and dividend
Revenue growth5% · Above median
Balance sheet
Debt / equity1.27× · Highest 25%
Valuation Multiplesvs Publishing median · lower = cheaper
P/B0.21× · 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 (TTM)0.02× · Cheapest 25%
PEG0.23× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 48
FUTURE (revenue growth)23· sector 0
PAST (return on equity)0· sector 25
HEALTH (low debt)37· sector 99
DIVIDEND (yield)0· sector 60
VALUE 0: the price sits above our fair-value range.
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.
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 Jun 24, 2026, our model estimates a fair value of 0.0200 THB versus a price of 0.0400 THB, about −50% upside (overvalued).
What is the fair value of NATION?
Our model-based fair value for Nation Group (Thailand) PCL is 0.0200 THB (as of Jun 24, 2026), built from audited fundamentals. The current price: 0.0400 THB.
What is the quality score of NATION?
Nation Group (Thailand) PCL 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 Nation Group (Thailand) PCL (NATION)?
Our model-based price target is the fair value of 0.0200 THB (as of Jun 24, 2026) from 1 valuation models. Cautious scenario 0.0200 THB, optimistic scenario 0.0300 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Nation Group (Thailand) PCL stock forecast for 2026?
Our models put fair value at 0.0200 THB, about −50% upside versus a price of 0.0400 THB (overvalued). Cautious scenario 0.0200 THB, optimistic scenario 0.0300 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 926M THB (latest available figure, as of Jun 24, 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 0.0200 THB per share (as of Jun 24, 2026), against a price of 0.0400 THB. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Nation Group (Thailand) PCL stock overvalued or undervalued in 2026?
As of Jun 24, 2026, NATION trades above its calculated fair value: price 0.0400 THB, fair value 0.0200 THB, a gap of about −50% (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 NATION?
No. The price is what the market pays today (0.0400 THB); the fair value is what the company's own numbers justify (0.0200 THB). For Nation Group (Thailand) PCL the two are 0.0200 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 708M THB (market capitalisation, as of Jun 24, 2026). Per share that is 0.0400 THB; our models calculate a fair value of 0.0200 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 0.0200 THB, base 0.0200 THB, optimistic 0.0300 THB per share (as of Jun 24, 2026, price 0.0400 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 Jun 24, 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 Jun 24, 2026): debt of 1.27 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is NATION from its 52-week high?
Nation Group (Thailand) PCL trades at 0.0400 THB, about 20% below its 52-week high of 0.0500 THB and 33% above the low of 0.0300 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.0200 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, Jiangsu Phoenix Publishing & Media Corporation, China Science Publishing & Media Ltd, People.cn CO., 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 Jun 24, 2026: price 0.0400 THB, calculated fair value 0.0200 THB (−50%), Quality Score 48/100, from 1 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 NATION calculated?
We run Nation Group (Thailand) PCL through 1 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 0.0200 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 13.0 % 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 Sep 24, 2026 was 0.0400 THB. Our model-based fair value is 0.0200 THB, about −50% upside (overvalued). 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 above even our optimistic bull case (0.0300 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 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 708M THB (≈ $21.2M). 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 0.76 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nation Group (Thailand) PCL (NATION)?
Earnings per share at Nation Group (Thailand) PCL are −0.0100 THB. Earnings per share over the last twelve months: total profit spread across every single share.
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 −17.2% (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 +4.6% 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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