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SE-Education Public Company (SE-ED) Fair Value & Analysis

Consumer Cyclical · TH · Market cap 604M THB (≈ $18.3M) · ISIN TH0253010Z05

What is SE-Education Public Company really worth?

SE SE-Education Public Company SE-ED · BK
Price1.30 THB
Fair Value1.86 THB
Upside+43.1%
Quality41/100

Below-average quality, trading 30% below our fair value of 1.86 THB.

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Risks

!Weak Growth (revenue 5y −1.8 %/yr)
!Loss-making · -1.5% net margin
!Low debt · negative free cash flow
!Trails peers (4/11)
!Narrow moat 20/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 18 out of 100
Evidence: Low Range 1.39 THB – 2.78 THB

Fair value as of: Aug 30, 2026

From 8 valuation models · updated 6 days ago

Share price +0.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (1.39 THB). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (1.39 THB to 2.78 THB) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

2.90 THB 1.27 THB Fair Value 1.86 THB Jan 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range 1.27 THB – 2.90 THB · fair‑value band 1.39 THB – 2.78 THB · the 1.30 THB price screens below the 1.86 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

SE-Education Public Company (SE-ED) currently trades at 1.30 THB, while our model-based Fair Value estimate is 1.86 THB, implying the stock looks roughly 30.1% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Asset-Based group reads highest at a median of 1.98 THB per share, and 2 of the 8 models we run sit above the 1.30 THB price. Bear case: the Earnings-Based group reads lowest at 0.3200 THB, and 6 of the 8 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, SE-Education Public Company generated revenue of 1.9B THB at a net margin of −1.5%. Revenue declined 7.5% year over year. It earns a return on equity of −0.7%. Net debt stands at 497M THB. Fundamentals as of Aug 30, 2026

Our scenario range runs from 1.39 THB (bear case) to 2.78 THB (bull case); at 1.30 THB, the current price sits below 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 about 35% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −11% fair-value upside, at 43%, SE-ED screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (0.1300 THB to 3.76 THB). Read the values as a conservative anchor, not as a price target.
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
Highest evidence
EPV best evidence 0.3000 THB 0.3200 THB 0.3500 THB 74
ROIC Compounder 0.3000 THB 0.3200 THB 0.3500 THB 72
Gordon GGM 0.1200 THB 0.1300 THB 0.1400 THB 69
All 8 models by family
Earnings-Based
EPV best evidence 0.3000 THB 0.3200 THB 0.3500 THB 74
Dividend Discount
Gordon GGM 0.1200 THB 0.1300 THB 0.1400 THB 69
DDM Multi-Stage 0.1200 THB 0.1400 THB 0.1700 THB 67
Multiples
EV/EBIT 0.4400 THB 0.5600 THB 0.6800 THB 66
EV/EBITDA 2.84 THB 3.76 THB 4.68 THB 67
EV/Revenue 0.3500 THB 0.4700 THB 0.5800 THB 54
Asset-Based
NCAV (Graham) 1.48 THB 1.98 THB 2.95 THB 54
Economic Profit
ROIC Compounder 0.3000 THB 0.3200 THB 0.3500 THB 72

Widest divergence: Asset-Based (1.98 THB) versus Dividend Discount (0.1300 THB). Highest evidence: EPV (74).

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Key figures & financial health

P/S ratio 0.32 TTM
EPS (TTM) −0.0700 THB
Dividend yield 0.9%
Net margin −1.7% FY2025
Return on equity −0.7% TTM
Return on assets (EBIT) 0.9% avg 5y
More key figures
Profitability
Operating margin 1.5% TTM
Growth
Revenue (TTM) 1.9B THB TTM
Revenue growth (YoY) −7.5% 3y avg −1.6%
EPS growth (YoY) +37.5%
Balance sheet & cash flow
Free cash flow −44.1M THB FY2025
Net debt 497M THB FY2025

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 39 · Market factors (momentum, volatility) 26

Profitability 24
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 31
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 4
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

SE-Education Public Company Limited, together with its subsidiaries, operates bookstores in Thailand. The company operates through Retail Business, Other Distribution Channels, and School Business segments.

Full company description

SE-Education Public Company Limited, together with its subsidiaries, operates bookstores in Thailand. The company operates through Retail Business, Other Distribution Channels, and School Business segments. It operates SE-ED book centers, network stores, various university bookstores, and other provinces, as well as the network and sales area in various forms. The company also distributes books published by SE-ED and other publishers to bookstores and other sales channels; and publishes books by production and printing. In addition, it operates Plearnpattana School, which provides courses for students from pre-kindergarten to Matayom 6. The company provides its products through online channels. SE-Education Public Company Limited was founded in 1974 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SE-Education Public Company reported revenue of 1.9B THB in FY2025 versus 1.8B THB in FY2021, a compound +1.7%/yr. Reported net income was −33.0M THB in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.9B THB
Latest YoY
−3.9%
Avg. revenue growth/yr (3Y) 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.
−1.6%
Avg. revenue growth/yr (5Y) 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.
−1.8%
Avg. revenue growth/yr (25Y) 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.
+2.1%
Value creation/yr 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
Revenue +1.7%/yr
FY21 1.8B THB
FY22 2.0B THB
FY23 2.1B THB
FY24 2.0B THB
FY25 1.9B THB
Net income
FY21 −48.7M THB
FY22 9.7M THB
FY23 36.1M THB
FY24 −25.3M THB
FY25 −33.0M THB

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

Peer Group

Specialty Retail · 220 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 41 · Bottom 25%
Fair Value upside +43% · Top 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) −1% · Bottom 25%
Operating margin (TTM) 1% · Below median
Revenue growth −8% · Bottom 25%
Dividend yield (TTM) 0.9% · Bottom 25%
Debt / equity 0.07× · Lower than median

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/S (TTM) 0.01× · Cheaper than 75% of peers
PEG 0.30× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE91 · sector 31
FUTURE0 · sector 25
PAST0 · sector 27
HEALTH96 · sector 96
DIVIDEND18 · sector 57

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

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Five Below, Inc FIVE $259.41 $117.29 −55%
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Frequently asked questions

Is SE-Education Public Company (SE-ED) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of 1.86 THB versus a price of 1.30 THB, about +43% upside (undervalued).
What is the fair value of SE-ED?
Our model-based fair value for SE-Education Public Company is 1.86 THB (as of Aug 30, 2026), built from audited fundamentals. The current price: 1.30 THB.
What is the quality score of SE-ED?
SE-Education Public Company has a Quality Score of 41/100. 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 revenue of SE-Education Public Company (SE-ED)?
SE-Education Public Company reported trailing-twelve-month revenue of about 1.9B THB (latest available figure, as of Aug 30, 2026).
What is the net profit margin of SE-ED?
The net profit margin of SE-Education Public Company is about −1.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does SE-Education Public Company pay a dividend?
SE-Education Public Company currently shows a dividend yield of about 0.91% relative to its recent price (as of Aug 30, 2026).
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