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SCB X Public Company (SCB) Fair Value & Analysis

Financial Services · TH · Market cap 524B THB

SX SCB X Public Company SCB · BK
Price154.00 THB
Fair Value183.35 THB
Upside+19.1%
Quality71/100
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Healthy Growth
Highly profitable · 35.6% net margin
Low debt · generates free cash flow
7.18% dividend yield
Ranks above peers (11/15)
Wide moat 66/100
Evidence: High Range 137.51 THB – 229.18 THB Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 22 days ago

Share price +0.7% over the past month.

A solid business, screening 19% undervalued on our models.

What matters now

  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
  • Our model range runs from 137.51 THB (bear) to 229.18 THB (bull), base 183.35 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 71/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (4 years)

158.50 THB 58.18 THB Fair Value 183.35 THB Apr 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

52‑month range 58.18 THB – 158.50 THB · fair‑value band 137.51 THB – 229.18 THB · the 154.00 THB price screens below the 183.35 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

SCB X Public Company (SCB) currently trades at 154.00 THB, while our model-based Fair Value estimate is 183.35 THB, implying the stock looks roughly 19.1% undervalued today. We read business quality at 71/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, SCB X Public Company generated revenue of 127B THB at a net margin of 35.6%. Revenue declined 9.5% year over year. It earns a return on equity of 9.1%. Net debt stands at 360B THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 137.51 THB (bear case) to 229.18 THB (bull case); at 154.00 THB, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 19%, SCB screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 237.53 THB 369.09 THB 568.92 THB 80
Residual Income 130.82 THB 144.71 THB 205.79 THB 76
Rev-Margin DCF 144.22 THB 220.56 THB 310.13 THB 74
All 26 models by family
DCF Models
FCF DCF 232.95 THB 381.55 THB 622.26 THB 38
Owner Earnings 190.82 THB 313.47 THB 512.15 THB 31
5Y Revenue Exit 144.22 THB 218.48 THB 311.23 THB 39
5Y EBITDA Exit 191.87 THB 308.41 THB 443.77 THB 41
5Y P/E Exit 198.18 THB 320.33 THB 448.59 THB 38
10Y Revenue Exit 169.17 THB 245.75 THB 345.74 THB 36
10Y EBITDA Exit 203.99 THB 309.93 THB 450.10 THB 37
10Y P/E Exit 208.12 THB 318.44 THB 453.90 THB 35
Earnings-Based
Graham-Dodd 95.90 THB 310.83 THB 415.03 THB 54
Lynch FV 69.30 THB 99.01 THB 128.71 THB 50
PEG = 1.0 69.30 THB 99.01 THB 128.71 THB 46
EPV 134.92 THB 160.19 THB 182.66 THB 59
Dividend Discount
Gordon GGM 100.42 THB 219.24 THB 368.88 THB 70
DDM Multi-Stage 100.42 THB 172.48 THB 228.48 THB 61
Multiples
P/E Multiple 211.55 THB 282.07 THB 352.59 THB 63
P/S Multiple 121.19 THB 161.59 THB 201.99 THB 58
P/B Multiple 179.82 THB 239.76 THB 299.70 THB 55
EV/EBIT 234.46 THB 315.37 THB 396.29 THB 53
EV/EBITDA 192.69 THB 259.68 THB 326.68 THB 54
EV/Revenue 104.82 THB 153.30 THB 201.78 THB 43
Asset-Based
NCAV (Graham) 73.55 THB 98.56 THB 147.10 THB 50
Growth DCF
Growth DCF 237.53 THB 369.09 THB 568.92 THB 80
Rev-Margin DCF 144.22 THB 220.56 THB 310.13 THB 74
Economic Profit
Residual Income 130.82 THB 144.71 THB 205.79 THB 76
ROIC Compounder 134.92 THB 169.38 THB 223.28 THB 72
Growth Earnings
Growth-Adj P/E 178.41 THB 254.87 THB 331.33 THB 68

Widest divergence: DCF Models (309.93 THB) versus Asset-Based (98.56 THB). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 127B THB
Revenue growth (YoY) -9.5%
Net margin 35.6%
Return on equity 9.1%
Free cash flow 67.1B THB FY2025
P/E ratio 10.2
More key figures
Operating margin 44.8%
EPS (TTM) 13.41 THB
Dividend yield 8.1%
EPS growth (YoY) -18.3%
Net debt 360B THB FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 53 · Market factors (momentum, volatility) 81

Profitability 33
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 91
Earnings quality: real cash, not paper profit
Fin. Strength 4
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 69
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

SCB X Public Company Limited engages in the banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally. It operates through Corporate, SME, Retail, and Others segments.

Full company description

SCB X Public Company Limited engages in the banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally. It operates through Corporate, SME, Retail, and Others segments. The company offers commercial banking and associated financial management services; CardX for credit and personal loans; AutoX for vehicle title loans; MONIX for digital lending through the FINNIX app; ABACUS Digital for digital lending through the Money Thunder app; Alpha X for luxury financing services; InnovestX, an integrated investing platform; SCB 10X, a technology investment arm; Token X, an initial coin offering portal; and Point X, a point redemption service. It also engages in the hire purchase, leasing, and refinancing business for cars, motorcycles, and watercraft; title loans; credit cards, personal loans, and nano finance for non-banks; debt collection; life and non-life insurance brokerage; strategic data and AI partner business; AI-powered digital lending platform business; investment in and incubation of tech ventures related to blockchain, digital assets, the Metaverse, Web 3.0, and DeepTech; data analytics business; securities business, including fund management and investment services covering various assets such as Thai and foreign stocks, mutual funds, bonds, and digital assets; asset fractionalization and TKX enterprise solutions; consulting services for digital technology development and solutions; lending and retail lending; asset investigation; and specialized technology services. In addition, the company develops and manages customer loyalty programs; purchases, transfers, and manages non-performing assets from financial institutions and financial business operators; leases office buildings; and provides training and seminars. It serves corporate, commercial, SME, and individual customers, as well as small businesses. SCB X Public Company Limited was founded in 1906 and is headquartered in Bangkok, Thailand.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SCB X Public Company reported revenue of 218B THB in FY2025 versus 108B THB in FY2021, a compound +19.1%/yr. Reported net income was 47.5B THB in FY2025, compounding +7.5%/yr from FY2021.

Growth Quality 72/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
218B THB
Latest YoY
+67.7%
Avg. growth/yr (3Y)
+21.8%
Avg. growth/yr (5Y)
+4.4%
Avg. growth/yr (25Y)
+6.2%
Revenue +19.1%/yr
FY21 108B THB
FY22 121B THB
FY23 128B THB
FY24 130B THB
FY25 218B THB
Net income +7.5%/yr
FY21 35.6B THB
FY22 37.5B THB
FY23 43.5B THB
FY24 43.9B THB
FY25 47.5B THB

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Cite: Fair Value Calculator (2026). "SCB X Public Company Fair Value". https://www.fairvalue-calculator.com/stock/SCB

Peer Group

Banks - Regional · 1082 stocks

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.

Quality Score 67 · Top 25%
Fair Value upside +19% · Above median
Return on equity (TTM) 9% · Below median
Return on assets 1% · Above median
Net margin (TTM) 36% · Above median
Operating margin (TTM) 45% · Above median
Revenue growth -10% · Bottom 25%
Dividend yield (TTM) 7.2% · Top 25%
Debt / equity 0.15× · Lower than median

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 11.6× · Cheaper than median
P/B 1.06× · Cheaper than median
P/S (TTM) 4.13× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 9.2× · Cheaper than median
PEG 1.71× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 59 · sector 39
FUTURE 0 · sector 44
PAST 36 · sector 41
HEALTH 93 · sector 85
DIVIDEND 100 · sector 49

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is SCB X Public Company (SCB) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 183.35 THB versus a price of 154.00 THB, about +19% (undervalued).
What is the fair value of SCB?
Our model-based fair value for SCB X Public Company is 183.35 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 154.00 THB.
What is the quality score of SCB?
SCB X Public Company has a Quality Score of 71/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of SCB X Public Company (SCB)?
SCB X Public Company reported trailing-twelve-month revenue of about 127B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of SCB?
The net profit margin of SCB X Public Company is about 35.6%, meaning it keeps roughly 35.6% of revenue as net income. Based on the latest reported figures.
Does SCB X Public Company pay a dividend?
SCB X Public Company currently shows a dividend yield of about 8.12% relative to its recent price (as of Jul 16, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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