SCB X Public Company Limited (SCB) fair value: what the stock is really worth
We calculate from audited financials what SCB X Public Company Limited 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.
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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 Sep 18, 2026.
How to read this chart
53‑month range 58.18 THB – 158.50 THB · fair‑value band 127.95 THB – 237.37 THB · the 152.50 THB price screens below the 189.90 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
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.
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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.
Stock analysis
SCB X Public Company Limited (SCB) currently trades at 152.50 THB, while our model-based Fair Value estimate is 189.90 THB, implying the stock looks roughly 19.7% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 183.35 THB per share, and 4 of the 6 models we run sit above the 152.50 THB price.
Bear case: the Asset-Based group reads lowest at 98.56 THB, and 2 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: 127.95 THB (bear) to 237.37 THB (bull), the price of 152.50 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 65/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
SCB X Public Company Limited 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.
Key figures
Market cap 513B THB (≈ $15.4B) · P/E ratio 11.4 · P/S ratio 2.48 · EPS (TTM) 13.41 THB · Dividend yield 7.4% · Net margin 21.8% · Return on equity 9.1% · Return on assets (EBIT) 1.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades near its 52-week high and 44% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at 25%, SCB screens cheaper than that median.
Fair Value models
Bear 127.95 THBFair Value 189.90 THBBull 237.37 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.55 THB per share) are deliberately not added.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.72/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+67.7%
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.
+21.8%
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.
+4.4%
Revenue growth 25 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.
+6.2%
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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. 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.
+13.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.1%
Dividend (yield on the price)7.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6% vs 0%, picking up
Profit margin 2020 to 2025 ⓘ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.19% → 28%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−9.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−4.3%
Yearly sales growth analysts expect, extended to five years.
Compare SCB X Public Company Limited 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.Banks - Regional · 1073 stocks
Beats the industry median on 11/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+25% · Top 25%
Profitability
Return on equity (TTM)9% · Below median
Return on assets1% · Above median
Net margin (TTM)36% · Above median
Operating margin (TTM)45% · Above median
Growth and dividend
Revenue growth−10% · Bottom 25%
Dividend yield (TTM)7.4% · Top 25%
Balance sheet
Debt / equity0.15× · Below median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "SCB X Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/SCB
Frequently asked questions
Is SCB X Public Company Limited (SCB) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of 189.90 THB versus a price of 152.50 THB, about +25% upside (undervalued).
What is the fair value of SCB?
Our model-based fair value for SCB X Public Company Limited is 189.90 THB (as of Sep 18, 2026), built from audited fundamentals. The current price: 152.50 THB.
What is the quality score of SCB?
SCB X Public Company Limited has a Quality Score of 65/100. 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 SCB X Public Company Limited (SCB)?
Our model-based price target is the fair value of 189.90 THB (as of Sep 18, 2026) from 6 valuation models. Cautious scenario 127.95 THB, optimistic scenario 237.37 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the SCB X Public Company Limited stock forecast for 2026?
Our models put fair value at 189.90 THB, about +25% upside versus a price of 152.50 THB (undervalued). Cautious scenario 127.95 THB, optimistic scenario 237.37 THB. The calculation is refreshed regularly with new filings.
What is the revenue of SCB X Public Company Limited (SCB)?
SCB X Public Company Limited reported trailing-twelve-month revenue of about 127B THB (latest available figure, as of Sep 18, 2026).
Does SCB X Public Company Limited pay a dividend?
SCB X Public Company Limited currently shows a dividend yield of about 7.40% relative to its recent price (as of Sep 18, 2026).
What growth is priced into SCB X Public Company Limited (SCB)?
For today's price to be fair in a discounted-cash-flow model, SCB X Public Company Limited would have to grow free cash flow by -9.5 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.4 % per year. As of Sep 18, 2026.
What discount rate (WACC) does the fair value of SCB use?
Our models discount SCB X Public Company Limited at 9.7 %: a base by market capitalisation (large), damped by beta 0.14, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For SCB X Public Company Limited that is -9.5 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has SCB X Public Company Limited (SCB) delivered so far?
Over the past 5 years revenue at SCB X Public Company Limited grew +4.4 % a year. The price currently implies -9.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of SCB X Public Company Limited (SCB) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into SCB X Public Company Limited (-9.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of SCB X Public Company Limited (SCB)?
The free-cash-flow yield on the price is 13.07 %: that much free cash flow SCB X Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SCB X Public Company Limited (SCB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SCB X Public Company Limited it is 189.90 THB per share (as of Sep 18, 2026), against a price of 152.50 THB. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is SCB X Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 18, 2026, SCB trades below its calculated fair value: price 152.50 THB, fair value 189.90 THB, a gap of about +25% (undervalued). 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 SCB?
No. The price is what the market pays today (152.50 THB); the fair value is what the company's own numbers justify (189.90 THB). For SCB X Public Company Limited the two are 37.40 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is SCB X Public Company Limited worth?
The market values SCB X Public Company Limited at about 513B THB (market capitalisation, as of Sep 18, 2026). Per share that is 152.50 THB; our models calculate a fair value of 189.90 THB per share.
What do the bullish and bearish scenarios say about SCB?
Our models span a range for SCB X Public Company Limited: cautious scenario 127.95 THB, base 189.90 THB, optimistic 237.37 THB per share (as of Sep 18, 2026, price 152.50 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SCB?
SCB X Public Company Limited trades at a price-to-earnings ratio of 11.4 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 189.90 THB is built from several models across several years. Other multiples: PEG 1.7, P/B 1.1, P/S 4.1, EV/EBITDA 9.2.
What is the PEG ratio of SCB?
The PEG ratio of SCB X Public Company Limited is 1.71 (P/E divided by earnings growth, as of Sep 18, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of SCB X Public Company Limited (SCB)?
Balance-sheet figures for SCB X Public Company Limited (as of Sep 18, 2026): return on equity 9.1%, debt of 0.15 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is SCB from its 52-week high?
SCB X Public Company Limited trades at 152.50 THB, about 8% below its 52-week high of 141.50 THB and 44% above the low of 105.97 THB (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of 189.90 THB is for.
Which stocks are comparable to SCB X Public Company Limited?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 SCB X Public Company Limited stock attractive at the current price?
The data as of Sep 18, 2026: price 152.50 THB, calculated fair value 189.90 THB (+25%), Quality Score 65/100, from 6 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 SCB calculated?
We run SCB X Public Company Limited through 6 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 189.90 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 16.1 % above its aggregate fair value. SCB X Public Company Limited currently trades 25 % below its own fair value, and the market average says nothing about that. 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 SCB X Public Company Limited (SCB)?
The closing price on Sep 18, 2026 was 152.50 THB. Our model-based fair value is 189.90 THB, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SCB X Public Company Limited right now?
Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (127.95 THB to 237.37 THB) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of SCB X Public Company Limited (SCB) come from?
Earnings per share at SCB X Public Company Limited grew −0.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.9 %, EBIT margin −1.5 %, tax rate −0.2 %, residual (interest, one-offs) −0.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of SCB X Public Company Limited
How large is the market capitalisation of SCB X Public Company Limited (SCB)?
The market capitalisation of SCB X Public Company Limited is 513B THB (≈ $15.4B). 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 SCB X Public Company Limited (SCB)?
The price-to-sales ratio of SCB X Public Company Limited is 2.48 (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 SCB X Public Company Limited (SCB)?
Earnings per share at SCB X Public Company Limited are 13.41 THB (price ÷ EPS = P/E 11.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SCB X Public Company Limited (SCB)?
The dividend yield of SCB X Public Company Limited is 7.4% (payout 84.1%). 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 SCB X Public Company Limited (SCB)?
The net margin of SCB X Public Company Limited is 21.8% (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 SCB X Public Company Limited (SCB)?
The return on equity (ROE) of SCB X Public Company Limited is 9.1% (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 SCB X Public Company Limited (SCB)?
On an EBIT basis the return on assets of SCB X Public Company Limited is 1.7% (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 SCB X Public Company Limited (SCB)?
The operating margin of SCB X Public Company Limited is 44.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SCB X Public Company Limited (SCB)?
Revenue at SCB X Public Company Limited is growing −9.5% versus a year earlier (3y avg +21.8%). 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 SCB X Public Company Limited (SCB)?
Earnings per share at SCB X Public Company Limited are growing −18.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does SCB X Public Company Limited (SCB) carry?
The net debt of SCB X Public Company Limited is 360B THB (fiscal year 2025, ≈ 5.4 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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