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Nok Airlines Public Company Limited (NOKPF) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Nok Airlines Public Company Limited $0.01, price $0.01, upside -2.0%, quality 60 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? Yes
  3. Add to watchlist

Industrials · US

NA Nok Airlines Public Company Limited logo Thin data Sep 23, 2026

Nok Airlines Public Company Limited

NOKPF · US

NeutralThe stock looks roughly fairly valued with average quality.

·Fair value $0.0080 · Fairly valued (−2%)
!Quality 60/100
!Weak Growth (revenue 5y −15.4 %/yr)
!Thin margins · 0.9% net margin (TTM)
✓Negative equity (buybacks among others) · generates free cash flow
!Trails peers (3/8)
!Narrow moat 9/100
!Evidence only low, so the estimate is less certain
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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

$8.30 $0.0001 Fair Value $0.0080 May 2016 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $0.0001 – $8.30 · fair‑value band $0.0078 – $0.0083 · the $0.0082 price screens above the $0.0080 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Nok Airlines Public Company Limited, together with its subsidiaries, offers air transport services for passengers, and parcels and parcel posts in Thailand. It also provides tourism and other related services. The company was formerly known as Nok Airlines Co., Ltd. and changed its name to Nok Airlines Public Company Limited in January 2013.

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Nok Airlines Public Company Limited, together with its subsidiaries, offers air transport services for passengers, and parcels and parcel posts in Thailand. It also provides tourism and other related services. The company was formerly known as Nok Airlines Co., Ltd. and changed its name to Nok Airlines Public Company Limited in January 2013. Nok Airlines Public Company Limited was incorporated in 2004 and is headquartered in Bangkok, Thailand.

Stock analysis

Nok Airlines Public Company Limited (NOKPF) currently trades at $0.0082, while our model-based Fair Value estimate is $0.0080, implying the stock looks roughly 2.0% fairly valued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $0.0258 per share, and 12 of the 21 models we run sit above the $0.0082 price.

Bear case: the Earnings-Based group reads lowest at $0.0009, and 9 of the 21 models stay below the price. Evidence for this calculation is low.

Scenario range: $0.0078 (bear) to $0.0083 (bull), the price of $0.0082 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 60/100 (solid quality), in the Industrials sector.

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

Nok Airlines Public Company Limited reported revenue of 8.3B THB in FY2023 versus 19.6B THB in FY2019, a compound −19.2%/yr. Reported net income was 47.7M THB in FY2023.

Key figures

Market cap $37.3M · P/E ratio 0.5 · EPS (TTM) $0.0200 · Net margin 0.6% · Return on assets (EBIT) −15.9% · Operating margin −33.3% · Revenue (TTM) 7.3B THB · Revenue growth (YoY) −22.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).

What moves the price

The share trades about 84% below its 52-week high and 1,540% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 31% fair-value upside, at −2%, NOKPF screens richer than that median.

Fair Value models

Bear $0.0078 Fair Value $0.0080 Bull $0.0083
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
FCF DCF $0.0345 $0.0630 $0.1101 75
Growth DCF $0.0342 $0.0601 $0.1015 74
5Y EBITDA Exit $0.0183 $0.0300 $0.0441 72
All 21 models by family
DCF Models
FCF DCF $0.0345 $0.0630 $0.1101 75
Owner Earnings $0.0131 $0.0258 $0.0465 71
5Y Revenue Exit $0.0145 $0.0224 $0.0322 70
5Y EBITDA Exit $0.0183 $0.0300 $0.0441 72
5Y P/E Exit $0.0100 $0.0131 $0.0160 70
10Y Revenue Exit $0.0210 $0.0305 $0.0437 65
10Y EBITDA Exit $0.0236 $0.0360 $0.0534 66
10Y P/E Exit $0.0183 $0.0240 $0.0305 63
Earnings-Based
Graham-Dodd $0.0005 $0.0025 $0.0034 62
Lynch FV $0.0006 $0.0009 $0.0012 59
PEG = 1.0 $0.0006 $0.0009 $0.0012 55
EPV $0.0005 $0.0012 $0.0017 69
Multiples
P/E Multiple $0.0013 $0.0017 $0.0022 63
P/S Multiple $0.0010 $0.0014 $0.0017 58
EV/EBIT $0.0079 $0.0117 $0.0155 65
EV/EBITDA $0.0113 $0.0162 $0.0212 67
EV/Revenue $0.0046 $0.0080 $0.0116 52
Growth DCF
Growth DCF $0.0342 $0.0601 $0.1015 74
Rev-Margin DCF $0.0145 $0.0227 $0.0334 70
Economic Profit
ROIC Compounder $0.0005 $0.0012 $0.0017 67
Growth Earnings
Growth-Adj P/E $0.0011 $0.0015 $0.0019 66

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Quality Score breakdown

Overall quality 60/100

Of which business quality 58 · Market factors (momentum, volatility) 36

Profitability 23
Margins and returns on capital today
Quality Growth 96
Are margins and returns improving?
Cashflow 84
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 78
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. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+18.9%
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.
+8.3%
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.
−15.4%
Revenue growth 14 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.
+9.6%
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.
−21.8% (2018) → 6.3% (2023)

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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.Airlines · 59 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 60 · Top 25%
Fair Value upside −2% · Below median
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −6% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) −33% · Bottom 25%
Growth and dividend
Revenue growth −22% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Airlines median · lower = cheaper

P/E (TTM) 0.5× · Cheapest 25%
P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/FCF 0.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)31 · sector 58
FUTURE (revenue growth)0 · sector 47
PAST (return on equity)0 · sector 50
HEALTH (low debt)0 · sector 68
DIVIDEND (yield)0 · sector 48

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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

Stock Price Fair Value vs Fair Value
Delta Air Lines, Inc DAL $81.75 $121.89 +49%
United Airlines Holdings UAL $110.72 $149.86 +35%
Ryanair Holdings RYA €22.72 €48.53 +114%
Southwest Airlines Co LUV $41.04 $14.76 −64%
InterGlobe Aviation Limited INDIGO ₹5,029 ₹3,073 −39%
Singapore Airlines Limited C6L 6.57 SGD 7.89 SGD +20%
LATAM Airlines Group LTM $53.45 $106.79 +100%
China Southern Airlines Company 600029 ¥4.96 ¥2.78 −44%
Deutsche Lufthansa AG LHA €7.57 €9.90 +31%
American Airlines Group AAL $13.61 $3.52 −74%

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Nok Airlines Public Company Limited · Fair Value
$0.0080 −2%Fair Value
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Cite: Fair Value Calculator (2026). "Nok Airlines Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/NOKPF

Frequently asked questions

Is Nok Airlines Public Company Limited (NOKPF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $0.0080 versus a price of $0.0082, about −2% upside (fairly valued).
What is the fair value of NOKPF?
Our model-based fair value for Nok Airlines Public Company Limited is $0.0080 (as of Sep 23, 2026), built from audited fundamentals. The current price: $0.0082.
What is the quality score of NOKPF?
Nok Airlines Public Company Limited has a Quality Score of 60/100. 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 Nok Airlines Public Company Limited (NOKPF)?
Our model-based price target is the fair value of $0.0080 (as of Sep 23, 2026) from 21 valuation models. Cautious scenario $0.0078, optimistic scenario $0.0083. It is a calculation from audited fundamentals, not an analyst target.
What is the Nok Airlines Public Company Limited stock forecast for 2026?
Our models put fair value at $0.0080, about −2% upside versus a price of $0.0082 (fairly valued). Cautious scenario $0.0078, optimistic scenario $0.0083. The calculation is refreshed regularly with new filings.
What is the revenue of Nok Airlines Public Company Limited (NOKPF)?
Nok Airlines Public Company Limited reported trailing-twelve-month revenue of about 7.3B THB (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Nok Airlines Public Company Limited (NOKPF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nok Airlines Public Company Limited it is $0.0080 per share (as of Sep 23, 2026), against a price of $0.0082. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is Nok Airlines Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 23, 2026, NOKPF trades above its calculated fair value: price $0.0082, fair value $0.0080, a gap of about −2% (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 NOKPF?
No. The price is what the market pays today ($0.0082); the fair value is what the company's own numbers justify ($0.0080). For Nok Airlines Public Company Limited the two are $0.0002 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nok Airlines Public Company Limited worth?
The market values Nok Airlines Public Company Limited at about $37.3M (market capitalisation, as of Sep 23, 2026). Per share that is $0.0082; our models calculate a fair value of $0.0080 per share.
What do the bullish and bearish scenarios say about NOKPF?
Our models span a range for Nok Airlines Public Company Limited: cautious scenario $0.0078, base $0.0080, optimistic $0.0083 per share (as of Sep 23, 2026, price $0.0082). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NOKPF?
Nok Airlines Public Company Limited trades at a price-to-earnings ratio of 0.5 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.0080 is built from several models across several years.
How solid is the balance sheet of Nok Airlines Public Company Limited (NOKPF)?
Balance-sheet figures for Nok Airlines Public Company Limited (as of Sep 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is NOKPF from its 52-week high?
Nok Airlines Public Company Limited trades at $0.0082, about 84% below its 52-week high of $0.0500 and 1,540% above the low of $0.0005 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $0.0080 is for.
Which stocks are comparable to Nok Airlines Public Company Limited?
From the same area (Industrials) we also value Delta Air Lines, Inc, United Airlines Holdings, Ryanair Holdings, Southwest Airlines Co, 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 Nok Airlines Public Company Limited stock attractive at the current price?
The data as of Sep 23, 2026: price $0.0082, calculated fair value $0.0080 (−2%), Quality Score 60/100, from 21 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 NOKPF calculated?
We run Nok Airlines Public Company Limited through 21 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 $0.0080, 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. Nok Airlines Public Company Limited 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 Nok Airlines Public Company Limited (NOKPF)?
The closing price on Sep 23, 2026 was $0.0082. Our model-based fair value is $0.0080, about −2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nok Airlines Public Company Limited 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 ($0.0078 to $0.0083), 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 Nok Airlines Public Company Limited

How large is the market capitalisation of Nok Airlines Public Company Limited (NOKPF)?
The market capitalisation of Nok Airlines Public Company Limited is $37.3M. 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 are the earnings per share of Nok Airlines Public Company Limited (NOKPF)?
Earnings per share at Nok Airlines Public Company Limited are $0.0200 (price ÷ EPS = P/E 0.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Nok Airlines Public Company Limited (NOKPF)?
The net margin of Nok Airlines Public Company Limited is 0.6% (fiscal year 2023). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Nok Airlines Public Company Limited (NOKPF)?
On an EBIT basis the return on assets of Nok Airlines Public Company Limited is −15.9% (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 Nok Airlines Public Company Limited (NOKPF)?
The operating margin of Nok Airlines Public Company Limited is −33.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nok Airlines Public Company Limited (NOKPF)?
Revenue at Nok Airlines Public Company Limited is growing −22.0% versus a year earlier (3y avg +8.3%). 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 Nok Airlines Public Company Limited (NOKPF)?
Earnings per share at Nok Airlines Public Company Limited are growing −28.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Nok Airlines Public Company Limited (NOKPF) generate?
The free cash flow of Nok Airlines Public Company Limited is 1.4B THB (fiscal year 2023). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Nok Airlines Public Company Limited (NOKPF) carry?
The net debt of Nok Airlines Public Company Limited is 10.7B THB (fiscal year 2023, ≈ 7.5 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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