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Kasikornbank Public Company Limited (TKKD) fair value: what the stock is really worth

We calculate from audited financials what Kasikornbank 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.

  1. Fair value above price? No
  2. Good quality? Yes
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Financial Services · SG

KP Kasikornbank Public Company Limited logo Some data Sep 13, 2026

Kasikornbank Public Company Limited

TKKD · SG

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value 6.70 SGD · Overvalued (−31%)
✓Quality 66/100
!Mixed Growth (revenue 3y +4.8 %/yr)
✓Highly profitable · 32.6% net margin (TTM)
✓Low debt · generates free cash flow
·6.12% dividend yield
✓Ranks above peers (9/14)
✓Wide moat 68/100
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 20 out of 100
!Weak on future: 6 out of 100
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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

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Price vs Fair Value

9.98 SGD 3.77 SGD Fair Value 6.70 SGD Apr 2024 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

30‑month range 3.77 SGD – 9.98 SGD · fair‑value band 5.03 SGD – 8.38 SGD · the 9.71 SGD price screens above the 6.70 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

Kasikornbank Public Company Limited, together with its subsidiaries, provides commercial banking products and services in Thailand and internationally. The company operates through four segments: Corporate Business; Retail Business; Treasury and Investment, Capital Markets Business and World Business Group; and Muang Thai Group Holding Business.

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Kasikornbank Public Company Limited, together with its subsidiaries, provides commercial banking products and services in Thailand and internationally. The company operates through four segments: Corporate Business; Retail Business; Treasury and Investment, Capital Markets Business and World Business Group; and Muang Thai Group Holding Business. It offers e-savings, savings, fixed deposit, current, and foreign currency deposit accounts; debit and credit cards, as well as Xpress cash; personal, home, and auto loans, as well as property for sale; mutual funds, stocks, debentures/bonds, and derivatives/futures exchange; accident, health, critical illness, travel, savings, retirement and endowment, life insurance and inheritance, car, insurance for tax deduction, and other insurance products; digital banking and e-wallet; bill payment, money and global money transfers, and PromptPay; cash management, including cheques and drafts, as well as foreign exchange; alert services; and other financial services. The company also provides working capital, commercial loan, and letter of indemnity; international trade finance, international guarantee, and green solutions; payment, collection, liquidity management, and online merchant solutions; electronic payment application; e-tax invoice and receipt; import and export service solutions; various channels in overseas; corporate finance, securities, and investment; business accounts and cards; life, non-life, and group insurance; electronic service solution; fx and derivatives; and other related services. In addition, it engages in funding; centralized risk management; liquid assets investments; financial instruments; and foreign currency exchange, as well as brokerage business. The company was formerly known as Thai Farmers Bank Public Company Limited and changed its name to Kasikornbank Public Company Limited in April 2003. Kasikornbank Public Company Limited was founded in 1945 and is headquartered in Bangkok, Thailand.

Stock analysis

Kasikornbank Public Company Limited (TKKD) currently trades at 9.71 SGD, while our model-based Fair Value estimate is 6.70 SGD, implying the stock looks roughly 44.8% overvalued today.

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Valuation

How firm this estimate is: it rests on 16 models at a data quality of 92/100, which puts the evidence level at medium.

Scenario range: 5.03 SGD (bear) to 8.38 SGD (bull), the price of 9.71 SGD 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 66/100 (solid quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Kasikornbank Public Company Limited reported revenue of 207B THB in FY2025 versus 169B THB in FY2021, a compound +5.3%/yr. Reported net income was 49.6B THB in FY2025, compounding +6.8%/yr from FY2021.

Key figures

Market cap 23.0B SGD (≈ $18.0B) · P/E ratio 11.8 · P/S ratio 2.83 · EPS (TTM) 0.8200 SGD · Dividend yield 6.1% · Net margin 23.9% · Return on equity 8.5% · Return on assets 1.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades near its 52-week high and 70% 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 −31%, TKKD screens cheaper than that median.

Fair Value models

Bear 5.03 SGD Fair Value 6.70 SGD Bull 8.38 SGD
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
Residual Income 207.27 SGD 224.47 SGD 280.99 SGD 68
P/E Multiple 203.96 SGD 271.95 SGD 339.94 SGD 63
P/B Multiple 257.54 SGD 343.39 SGD 429.24 SGD 55
All 4 models by family
Multiples
P/E Multiple 203.96 SGD 271.95 SGD 339.94 SGD 63
P/B Multiple 257.54 SGD 343.39 SGD 429.24 SGD 55
Asset-Based
NCAV (Graham) 122.64 SGD 164.34 SGD 245.28 SGD 54
Economic Profit
Residual Income 207.27 SGD 224.47 SGD 280.99 SGD 68

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Quality Score breakdown

Overall quality 66/100

Of which business quality 60 · Market factors (momentum, volatility) 91

Profitability 40
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 85
Price trend over the last 3–12 months (market factor)
52W Momentum 97
Distance to the 52-week high (market factor)
Net Issuance 82
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. 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.0%
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.
+4.8%
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.
+11.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.4%
Dividend (yield on the price)6.1%

TKKD screens 45% overvalued. Compare with DBS Group →

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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 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 64 · Top 25%
Fair Value upside +20% · Top 25%
Profitability
Return on equity (TTM) 9% · Below median
Return on assets 1% · Above median
Net margin (TTM) 33% · Above median
Operating margin (TTM) 51% · Top 25%
Growth and dividend
Revenue growth 1% · Below median
Dividend yield (TTM) 6.1% · Top 25%
Balance sheet
Debt / equity 0.38× · Above median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (TTM) 11.8× · Cheaper than median
P/FCF 0.1× · Cheapest 25%
PEG 1.74× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)20 · sector 11
FUTURE (revenue growth)6 · sector 44
PAST (return on equity)34 · sector 41
HEALTH (low debt)81 · sector 85
DIVIDEND (yield)100 · sector 53

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 Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
DBS Group DBS19 20.20 THB 6.69 THB −67%
China Merchants Bank Co 3968 HK$51.35 HK$78.59 +53%
Intesa Sanpaolo S.p.A ISP €6.74 €4.04 −40%
HDFC Bank Limited HDB $23.34 $15.75 −33%
BNP Paribas SA BNP €102.32 €105.99 +4%
UniCredit S.p.A UCG €82.92 €77.62 −6%
Mizuho Financial Group MFG $11.15 $9.67 −13%
ICICI Bank Limited ICICIBANK ₹1,359 ₹636.31 −53%
The PNC Financial Services Group PNC $231.49 $159.52 −31%
Oversea-Chinese Banking Corporation O39 31.28 SGD 19.80 SGD −37%

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Kasikornbank Public Company Limited · Fair Value
6.70 SGD −45%Fair Value
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Cite: Fair Value Calculator (2026). "Kasikornbank Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TKKD

Frequently asked questions

Is Kasikornbank Public Company Limited (TKKD) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 6.70 SGD versus a price of 9.71 SGD, about −31% upside (overvalued).
What is the fair value of TKKD?
Our model-based fair value for Kasikornbank Public Company Limited is 6.70 SGD (as of Sep 13, 2026), built from audited fundamentals. The current price: 9.71 SGD.
What is the quality score of TKKD?
Kasikornbank Public Company Limited has a Quality Score of 66/100. 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 Kasikornbank Public Company Limited (TKKD)?
Our model-based price target is the fair value of 6.70 SGD (as of Sep 13, 2026) from 4 valuation models. Cautious scenario 5.03 SGD, optimistic scenario 8.38 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the Kasikornbank Public Company Limited stock forecast for 2026?
Our models put fair value at 6.70 SGD, about −31% upside versus a price of 9.71 SGD (overvalued). Cautious scenario 5.03 SGD, optimistic scenario 8.38 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of Kasikornbank Public Company Limited (TKKD)?
Kasikornbank Public Company Limited reported trailing-twelve-month revenue of about 155B THB (latest available figure, as of Sep 13, 2026).
Does Kasikornbank Public Company Limited pay a dividend?
Kasikornbank Public Company Limited currently shows a dividend yield of about 6.12% relative to its recent price (as of Sep 13, 2026).
What is the intrinsic value of Kasikornbank Public Company Limited (TKKD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kasikornbank Public Company Limited it is 6.70 SGD per share (as of Sep 13, 2026), against a price of 9.71 SGD. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Kasikornbank Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 13, 2026, TKKD trades above its calculated fair value: price 9.71 SGD, fair value 6.70 SGD, a gap of about −31% (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 TKKD?
No. The price is what the market pays today (9.71 SGD); the fair value is what the company's own numbers justify (6.70 SGD). For Kasikornbank Public Company Limited the two are 3.01 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is Kasikornbank Public Company Limited worth?
The market values Kasikornbank Public Company Limited at about 23.0B SGD (market capitalisation, as of Sep 13, 2026). Per share that is 9.71 SGD; our models calculate a fair value of 6.70 SGD per share.
What do the bullish and bearish scenarios say about TKKD?
Our models span a range for Kasikornbank Public Company Limited: cautious scenario 5.03 SGD, base 6.70 SGD, optimistic 8.38 SGD per share (as of Sep 13, 2026, price 9.71 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TKKD?
Kasikornbank Public Company Limited trades at a price-to-earnings ratio of 11.8 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 6.70 SGD is built from several models across several years. Other multiples: PEG 1.7.
What is the PEG ratio of TKKD?
The PEG ratio of Kasikornbank Public Company Limited is 1.74 (P/E divided by earnings growth, as of Sep 13, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Kasikornbank Public Company Limited (TKKD)?
Balance-sheet figures for Kasikornbank Public Company Limited (as of Sep 13, 2026): return on equity 8.5%, debt of 0.38 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is TKKD from its 52-week high?
Kasikornbank Public Company Limited trades at 9.71 SGD, about 7% below its 52-week high of 9.08 SGD and 70% above the low of 5.70 SGD (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 6.70 SGD is for.
Which stocks are comparable to Kasikornbank 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 Kasikornbank Public Company Limited stock attractive at the current price?
The data as of Sep 13, 2026: price 9.71 SGD, calculated fair value 6.70 SGD (−31%), Quality Score 66/100, from 4 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 TKKD calculated?
We run Kasikornbank Public Company Limited through 4 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 6.70 SGD, 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 16.0 % above its aggregate fair value. Kasikornbank 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 Kasikornbank Public Company Limited (TKKD)?
The closing price on Sep 18, 2026 was 9.71 SGD. Our model-based fair value is 6.70 SGD, about −31% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kasikornbank Public Company Limited right now?
The price sits above even our optimistic bull case (8.38 SGD). The favourable scenario is already priced in. Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Kasikornbank Public Company Limited

How large is the market capitalisation of Kasikornbank Public Company Limited (TKKD)?
The market capitalisation of Kasikornbank Public Company Limited is 23.0B SGD (≈ $18.0B). 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 Kasikornbank Public Company Limited (TKKD)?
The price-to-sales ratio of Kasikornbank Public Company Limited is 2.83 (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 Kasikornbank Public Company Limited (TKKD)?
Earnings per share at Kasikornbank Public Company Limited are 0.8200 SGD (price ÷ EPS = P/E 11.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kasikornbank Public Company Limited (TKKD)?
The dividend yield of Kasikornbank Public Company Limited is 6.1% (payout 72.5%). 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 Kasikornbank Public Company Limited (TKKD)?
The net margin of Kasikornbank Public Company Limited is 23.9% (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 Kasikornbank Public Company Limited (TKKD)?
The return on equity (ROE) of Kasikornbank Public Company Limited is 8.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Kasikornbank Public Company Limited (TKKD)?
The return on assets (ROA) of Kasikornbank Public Company Limited is 1.3% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of Kasikornbank Public Company Limited (TKKD)?
The operating margin of Kasikornbank Public Company Limited is 51.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kasikornbank Public Company Limited (TKKD)?
Revenue at Kasikornbank Public Company Limited is growing +1.1% versus a year earlier (3y avg +4.8%). 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 Kasikornbank Public Company Limited (TKKD)?
Earnings per share at Kasikornbank Public Company Limited are growing +10.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kasikornbank Public Company Limited (TKKD) generate?
The free cash flow of Kasikornbank Public Company Limited is 211B 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 Kasikornbank Public Company Limited (TKKD) carry?
The net debt of Kasikornbank Public Company Limited is 212B THB (fiscal year 2023, ≈ 1.0 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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