MEB Corporation Public Company Limited

SET:MEB Stock Report

Market Cap: ฿8.6b

MEB Corporation Valuation

Is MEB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MEB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MEB (THB28.75) is trading below our estimate of fair value (THB30.33)

Significantly Below Fair Value: MEB is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MEB?

Key metric: As MEB is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MEB. This is calculated by dividing MEB's market cap by their current earnings.
What is MEB's PE Ratio?
PE Ratio19.8x
Earnings฿436.64m
Market Cap฿8.63b

Price to Earnings Ratio vs Peers

How does MEB's PE Ratio compare to its peers?

The above table shows the PE ratio for MEB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average36.1x
AURA Aurora Design
17.9x4.3%฿19.1b
SINGER Singer Thailand
79.4xn/a฿7.4b
MOSHI Moshi Moshi Retail Corporation
33.9x21.1%฿15.7b
JUBILE Jubilee Enterprise
13.2xn/a฿2.1b
MEB MEB Corporation
19.8x11.1%฿8.6b

Price-To-Earnings vs Peers: MEB is good value based on its Price-To-Earnings Ratio (19.8x) compared to the peer average (36.1x).

Price to Earnings Ratio vs Industry

How does MEB's PE Ratio compare vs other companies in the TH Specialty Retail Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
MEB 19.8xIndustry Avg. 20.8xNo. of Companies6PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MEB is good value based on its Price-To-Earnings Ratio (19.8x) compared to the TH Specialty Retail industry average (20.8x).

Price to Earnings Ratio vs Fair Ratio

What is MEB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MEB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.8x
Fair PE Ratio17.2x

Price-To-Earnings vs Fair Ratio: MEB is expensive based on its Price-To-Earnings Ratio (19.8x) compared to the estimated Fair Price-To-Earnings Ratio (17.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MEB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿28.75
฿38.38
+33.5%
2.5%฿39.50฿37.00n/a4
Nov ’25฿32.00
฿38.38
+19.9%
2.5%฿39.50฿37.00n/a4
Oct ’25฿30.50
฿38.83
+27.3%
1.6%฿39.50฿38.00n/a3
Sep ’25฿31.25
฿38.83
+24.3%
1.6%฿39.50฿38.00n/a3
Aug ’25฿29.50
฿38.38
+30.1%
2.5%฿39.50฿37.00n/a4
Jul ’25฿29.75
฿39.88
+34.0%
8.3%฿45.50฿37.00n/a4
Jun ’25฿31.25
฿39.88
+27.6%
8.3%฿45.50฿37.00n/a4
May ’25฿32.75
฿40.83
+24.7%
8.1%฿45.50฿38.00n/a3
Apr ’25฿31.75
฿40.83
+28.6%
8.1%฿45.50฿38.00n/a3
Mar ’25฿35.50
฿40.83
+15.0%
8.1%฿45.50฿38.00n/a3
Feb ’25฿36.00
฿40.83
+13.4%
8.1%฿45.50฿38.00n/a3
Jan ’25฿32.75
฿40.50
+23.7%
8.7%฿45.50฿38.00n/a3
Dec ’24฿32.50
฿40.50
+24.6%
8.7%฿45.50฿38.00n/a3
Nov ’24฿32.00
฿40.50
+26.6%
8.7%฿45.50฿38.00฿32.003
Oct ’24฿32.75
฿40.17
+22.6%
9.4%฿45.50฿37.00฿30.503
Sep ’24฿36.50
฿39.17
+7.3%
11.6%฿45.50฿35.00฿31.253
Aug ’24฿35.50
฿36.00
+1.4%
2.8%฿37.00฿35.00฿29.502
Jul ’24฿32.25
฿36.00
+11.6%
2.8%฿37.00฿35.00฿29.752

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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