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Asian Alliance International PCL (AAI) Fair Value & Analysis

Consumer Defensive · TH · Market cap 8.2B THB (≈ $250M)

What is Asian Alliance International PCL really worth?

AA Asian Alliance International PCL AAI · BK
Price4.12 THB
Fair Value5.43 THB
Upside+31.8%
Quality60/100

A solid business, trading 24% below our fair value of 5.43 THB.

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Strengths

Healthy Growth (revenue 5y +9.2 %/yr)
Low debt · generates free cash flow
Ranks above peers (10/14)

Risks

!Thin margins · 9.1% net margin
!Moderate moat 49/100
!Evidence only low, so the estimate is less certain

For context

·8.13% dividend yield
Evidence: Low Range 3.24 THB – 7.13 THB

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from 5.69 THB to 5.43 THB (−4.6%) since Jul 17, 2026. Share price +3.5% 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 gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (3.24 THB to 7.13 THB) leaves room in how you read the outcome.

Price vs Fair Value (4 years)

6.83 THB 2.25 THB Fair Value 5.43 THB Nov 2022 Sep 2026

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

How to read this chart

46‑month range 2.25 THB – 6.83 THB · fair‑value band 3.24 THB – 7.13 THB · the 4.12 THB price screens below the 5.43 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Asian Alliance International PCL (AAI) currently trades at 4.12 THB, while our model-based Fair Value estimate is 5.43 THB, implying the stock looks roughly 24.1% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Consumer Defensive sector. Bull case: the Dividend Discount group reads highest at a median of 7.18 THB per share, and 19 of the 26 models we run sit above the 4.12 THB price. Bear case: the Asset-Based group reads lowest at 1.53 THB, and 7 of the 26 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Asian Alliance International PCL generated revenue of 6.8B THB at a net margin of 9.1%. Revenue declined 16.1% year over year. It earns a return on equity of 12.0%. Net debt stands at 191M THB. Fundamentals as of Aug 13, 2026

Our scenario range runs from 3.24 THB (bear case) to 7.13 THB (bull case); at 4.12 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 22% below its 52-week high and 24% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −27% fair-value upside, at 32%, AAI 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.

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
FCF DCF 3.04 THB 5.10 THB 8.38 THB 78
Growth DCF 3.04 THB 4.97 THB 7.96 THB 77
Owner Earnings 2.80 THB 4.69 THB 7.69 THB 75
All 26 models by family
DCF Models
FCF DCF 3.04 THB 5.10 THB 8.38 THB 78
Owner Earnings 2.80 THB 4.69 THB 7.69 THB 75
5Y Revenue Exit 2.88 THB 4.87 THB 7.50 THB 71
5Y EBITDA Exit 3.61 THB 6.32 THB 9.64 THB 74
5Y P/E Exit 4.31 THB 7.72 THB 11.50 THB 69
10Y Revenue Exit 2.82 THB 4.67 THB 7.37 THB 65
10Y EBITDA Exit 3.37 THB 5.69 THB 9.05 THB 67
10Y P/E Exit 3.82 THB 6.67 THB 10.53 THB 62
Earnings-Based
Graham-Dodd 2.38 THB 9.65 THB 13.13 THB 64
Lynch FV 2.41 THB 3.45 THB 4.48 THB 61
PEG = 1.0 2.41 THB 3.45 THB 4.48 THB 57
EPV 2.56 THB 2.97 THB 3.32 THB 74
Dividend Discount
Gordon GGM 4.17 THB 8.31 THB 12.58 THB 67
DDM Multi-Stage 4.17 THB 7.18 THB 8.77 THB 67
Multiples
P/E Multiple 5.51 THB 7.35 THB 9.19 THB 63
P/S Multiple 3.97 THB 5.29 THB 6.61 THB 58
P/B Multiple 4.46 THB 5.95 THB 7.44 THB 55
EV/EBIT 4.03 THB 5.38 THB 6.74 THB 66
EV/EBITDA 4.31 THB 5.75 THB 7.20 THB 67
EV/Revenue 2.87 THB 4.11 THB 5.35 THB 53
Asset-Based
NCAV (Graham) 1.14 THB 1.53 THB 2.28 THB 54
Growth DCF
Growth DCF 3.04 THB 4.97 THB 7.96 THB 77
Rev-Margin DCF 2.88 THB 4.84 THB 7.27 THB 72
Economic Profit
Residual Income 2.26 THB 2.77 THB 5.16 THB 73
ROIC Compounder 2.67 THB 3.49 THB 4.60 THB 72
Growth Earnings
Growth-Adj P/E 4.20 THB 6.00 THB 7.80 THB 67

Widest divergence: Dividend Discount (7.18 THB) versus Asset-Based (1.53 THB). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 14.2
P/S ratio 1.50 P/E × margin
EPS (TTM) 0.2900 THB price ÷ EPS = P/E 14.2
Dividend yield 8.1% payout 116%
Net margin 10.6% FY2025
Return on equity 12.0% TTM
More key figures
Profitability
Return on assets (EBIT) 14.7% avg 5y
Operating margin 7.9% TTM
Growth
Revenue (TTM) 6.8B THB TTM
Revenue growth (YoY) −16.1% 3y avg −0.6%
EPS growth (YoY) −46.6%
Balance sheet & cash flow
Free cash flow 557M THB FY2025
Net debt 191M THB FY2025 · ≈ 0.3 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 53

Profitability 63
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 52
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

Asian Alliance International Public Company Limited, together with its subsidiaries, produces and sells pet food and ready-to-eat human food products in Thailand, the United States, the United Kingdom, Saudi Arabia, Japan, Italy, Germany, and internationally.

Full company description

Asian Alliance International Public Company Limited, together with its subsidiaries, produces and sells pet food and ready-to-eat human food products in Thailand, the United States, the United Kingdom, Saudi Arabia, Japan, Italy, Germany, and internationally. The company offers wet pet food products, such as soups, salads, fish and meat dishes, mousse, and pate, as well as dry pet food products for dogs and cats under the monchou, monchou balanced, Hajiko, and PRO brand names; and ready-to-eat human food products made of tuna, salmon, tilapia, sea bass, mackerel, and shrimp in sealed containers. It also engages in marketing and management activities, including investing in other business. Asian Alliance International Public Company Limited was founded in 2005 and is headquartered in Mueang Samut Sakhon, Thailand. Asian Alliance International Public Company Limited is a subsidiary of Asian Sea Corporation Public Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Asian Alliance International PCL reported revenue of 7.0B THB in FY2025 versus 5.0B THB in FY2021, a compound +8.9%/yr. Reported net income was 741M THB in FY2025, compounding +3.2%/yr from FY2021.

Growth Quality 74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
7.0B THB
Latest YoY
+2.2%
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.
−0.6%
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.
+9.2%
Avg. revenue growth/yr (7Y) 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.
+7.8%
Value creation/yr (5Y, in THB) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
+12.4% (4.3 + 8.1)
Revenue +8.9%/yr
FY21 5.0B THB
FY22 7.1B THB
FY23 5.4B THB
FY24 6.8B THB
FY25 7.0B THB
Net income +3.2%/yr
FY21 653M THB
FY22 859M THB
FY23 383M THB
FY24 1.0B THB
FY25 741M THB

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Cite: Fair Value Calculator (2026). "Asian Alliance International PCL Fair Value". https://www.fairvalue-calculator.com/stock/AAI

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 60 · Above median
Fair Value upside +32% · Above median
Return on equity (TTM) 12% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 9% · Top 25%
Operating margin (TTM) 8% · Above median
Revenue growth −16% · Bottom 25%
Dividend yield (TTM) 8.1% · Top 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 14.2× · Cheaper than median
P/B 1.70× · Pricier than median
P/S (TTM) 1.21× · Pricier than median
P/FCF 0.4× · Cheaper than median
EV/EBITDA 9.4× · Pricier than median

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
VALUE76 · sector 26
FUTURE0 · sector 21
PAST48 · sector 28
HEALTH98 · sector 96
DIVIDEND100 · sector 53

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 Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Nestlé S.A NESN CHF 78.62 CHF 57.26 −27%
Danone S.A BN €64.28 €48.41 −25%
Nestlé India Limited NESTLEIND ₹1,478 ₹251.94 −83%
The Kraft Heinz Company KHC $25.13 $24.59 −2%
Foshan Haitian Flavouring and Food Company 603288 ¥35.05 ¥21.93 −37%
Inner Mongolia Yili Industrial Group 600887 ¥25.51 ¥32.50 +27%
Yihai Kerry Arawana Holdings 300999 ¥25.28 ¥9.89 −61%
General Mills, Inc GIS $40.44 $28.32 −30%
Wilmar International Limited F34 3.64 SGD 3.89 SGD +7%
Britannia Industries Limited BRITANNIA ₹5,511 ₹1,765 −68%

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Frequently asked questions

Is Asian Alliance International PCL (AAI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 5.43 THB versus a price of 4.12 THB, about +32% upside (undervalued).
What is the fair value of AAI?
Our model-based fair value for Asian Alliance International PCL is 5.43 THB (as of Aug 13, 2026), built from audited fundamentals. The current price: 4.12 THB.
What is the quality score of AAI?
Asian Alliance International PCL has a Quality Score of 60/100. 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 Asian Alliance International PCL (AAI)?
Asian Alliance International PCL reported trailing-twelve-month revenue of about 6.8B THB (latest available figure, as of Aug 13, 2026).
What is the net profit margin of AAI?
The net profit margin of Asian Alliance International PCL is about 9.1%, meaning it keeps roughly 9.1% of revenue as net income. Based on the latest reported figures.
Does Asian Alliance International PCL pay a dividend?
Asian Alliance International PCL currently shows a dividend yield of about 8.13% relative to its recent price (as of Aug 13, 2026).
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