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Taokaenoi Food & Marketing Public Company (TKN) Fair Value & Analysis

Consumer Defensive · TH · Market cap 5.7B THB

TF Taokaenoi Food & Marketing Public Company TKN · BK
Price4.22 THB
Fair Value5.21 THB
Upside+23.5%
Quality59/100
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Mixed Growth
Thin margins · 7.8% net margin
Low debt · generates free cash flow
5.95% dividend yield
Ranks above peers (10/14)
Moderate moat 54/100
Evidence: High Range 2.98 THB – 6.62 THB Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 5.41 THB to 5.21 THB (−3.7%) since Jun 24, 2026. Share price +2.4% over the past month.

A solid business, screening 23% undervalued on our models.

What matters now

  • Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (2.98 THB to 6.62 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

13.01 THB 3.70 THB Fair Value 5.21 THB Feb 2021 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

60‑month range 3.70 THB – 13.01 THB · fair‑value band 2.98 THB – 6.62 THB · the 4.22 THB price screens below the 5.21 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Taokaenoi Food & Marketing Public Company (TKN) currently trades at 4.22 THB, while our model-based Fair Value estimate is 5.21 THB, implying the stock looks roughly 23.5% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Consumer Defensive 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, Taokaenoi Food & Marketing Public Company generated revenue of 5.3B THB at a net margin of 7.8%. Revenue declined 5.6% year over year. It earns a return on equity of 17.9%. Net debt stands at 597M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 2.98 THB (bear case) to 6.62 THB (bull case); at 4.22 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 about 32% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at 23%, TKN screens cheaper 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 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
Growth DCF 1.95 THB 2.68 THB 3.67 THB 80
Residual Income 1.82 THB 2.21 THB 4.68 THB 76
Rev-Margin DCF 2.66 THB 4.23 THB 5.99 THB 74
All 26 models by family
DCF Models
FCF DCF 1.92 THB 2.74 THB 3.91 THB 38
Owner Earnings 3.14 THB 4.56 THB 6.58 THB 31
5Y Revenue Exit 2.66 THB 4.24 THB 6.26 THB 39
5Y EBITDA Exit 3.45 THB 5.70 THB 8.29 THB 41
5Y P/E Exit 3.49 THB 5.77 THB 8.13 THB 38
10Y Revenue Exit 2.28 THB 3.63 THB 5.42 THB 36
10Y EBITDA Exit 2.85 THB 4.60 THB 6.91 THB 37
10Y P/E Exit 2.88 THB 4.65 THB 6.79 THB 35
Earnings-Based
Graham-Dodd 2.04 THB 5.80 THB 7.64 THB 54
Lynch FV 1.18 THB 1.69 THB 2.20 THB 50
PEG = 1.0 1.18 THB 1.69 THB 2.20 THB 46
EPV 2.84 THB 3.25 THB 3.61 THB 59
Dividend Discount
Gordon GGM 2.87 THB 5.72 THB 8.66 THB 70
DDM Multi-Stage 2.87 THB 4.49 THB 6.04 THB 61
Multiples
P/E Multiple 4.72 THB 6.30 THB 7.87 THB 63
P/S Multiple 3.82 THB 5.10 THB 6.37 THB 58
P/B Multiple 3.82 THB 5.10 THB 6.37 THB 55
EV/EBIT 4.46 THB 5.88 THB 7.29 THB 53
EV/EBITDA 4.88 THB 6.43 THB 7.98 THB 54
EV/Revenue 3.25 THB 4.55 THB 5.84 THB 43
Asset-Based
NCAV (Graham) 0.7900 THB 1.05 THB 1.57 THB 50
Growth DCF
Growth DCF 1.95 THB 2.68 THB 3.67 THB 80
Rev-Margin DCF 2.66 THB 4.23 THB 5.99 THB 74
Economic Profit
Residual Income 1.82 THB 2.21 THB 4.68 THB 76
ROIC Compounder 2.99 THB 3.64 THB 4.37 THB 72
Growth Earnings
Growth-Adj P/E 3.79 THB 5.41 THB 7.04 THB 68

Widest divergence: Growth Earnings (5.41 THB) versus Asset-Based (1.05 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 5.3B THB
Revenue growth (YoY) -5.6%
Net margin 7.8%
Return on equity 17.9%
Free cash flow 219M THB FY2025
P/E ratio 13.8
More key figures
Operating margin 9.4%
EPS (TTM) 0.3000 THB
Dividend yield 6.0%
EPS growth (YoY) +2.8%
Net debt 597M THB FY2025

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

Quality Score breakdown

Overall quality 59/100

Of which business quality 58 · Market factors (momentum, volatility) 40

Profitability 69
Margins and returns on capital today
Quality Growth 1
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 89
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

Taokaenoi Food & Marketing Public Company Limited manufactures and distributes fried, grilled, and baked seaweed and seaweed snacks in Thailand and internationally. It operates through Snacks, Retailer, and Others segments. The company operates as a retailer of snacks, and food and beverage products.

Full company description

Taokaenoi Food & Marketing Public Company Limited manufactures and distributes fried, grilled, and baked seaweed and seaweed snacks in Thailand and internationally. It operates through Snacks, Retailer, and Others segments. The company operates as a retailer of snacks, and food and beverage products. It is also involved in the distribution of snacks and souvenirs; manufacture and distribution of seasoning powders; restaurant business; as well as manufacturing, procurement, and distribution of ready-to-eat packaged popcorn. In addition, the company imports, trades, and distributes its products. The company was incorporated in 2004 and is based in Pak Kret, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Taokaenoi Food & Marketing Public Company reported revenue of 5.3B THB in FY2025 versus 3.6B THB in FY2021, a compound +10.1%/yr. Reported net income was 409M THB in FY2025, compounding +22.4%/yr from FY2021.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
5.3B THB
Latest YoY
−7.1%
Avg. 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.
+6.7%
Avg. 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.
+5.9%
Avg. growth/yr (14Y) 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.
+6.9%
Revenue +10.1%/yr
FY21 3.6B THB
FY22 4.4B THB
FY23 5.3B THB
FY24 5.7B THB
FY25 5.3B THB
Net income +22.4%/yr
FY21 182M THB
FY22 435M THB
FY23 743M THB
FY24 836M THB
FY25 409M THB
Character of growth · EPS growth decomposed (2014-2025) +3.2 % p.a.
Revenue per share +3.7 pp

of which total revenue +4.6 pp · buybacks/dilution −0.9 pp

EBIT margin −2.2 pp
Tax rate +1.7 pp
Residual (interest, one-offs) +0.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Taokaenoi Food & Marketing Public Company Fair Value". https://www.fairvalue-calculator.com/stock/TKN

Peer Group

Packaged Foods · 649 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 59 · Above median
Fair Value upside +24% · Above median
Return on equity (TTM) 18% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth -6% · Bottom 25%
Dividend yield (TTM) 6.0% · Top 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 13.8× · Cheaper than median
P/B 2.63× · Pricier than 75% of peers
P/S (TTM) 1.07× · Pricier than median
P/FCF 0.8× · Cheaper than median
EV/EBITDA 8.4× · 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 65 · sector 28
FUTURE 0 · sector 20
PAST 72 · sector 27
HEALTH 99 · sector 96
DIVIDEND 100 · sector 47

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 Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Taokaenoi Food & Marketing Public Company (TKN) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 5.21 THB versus a price of 4.22 THB, about +23% (undervalued).
What is the fair value of TKN?
Our model-based fair value for Taokaenoi Food & Marketing Public Company is 5.21 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 4.22 THB.
What is the quality score of TKN?
Taokaenoi Food & Marketing Public Company has a Quality Score of 59/100. 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 Taokaenoi Food & Marketing Public Company (TKN)?
Taokaenoi Food & Marketing Public Company reported trailing-twelve-month revenue of about 5.3B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of TKN?
The net profit margin of Taokaenoi Food & Marketing Public Company is about 7.8%, meaning it keeps roughly 7.8% of revenue as net income. Based on the latest reported figures.
Does Taokaenoi Food & Marketing Public Company pay a dividend?
Taokaenoi Food & Marketing Public Company currently shows a dividend yield of about 6.04% 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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