Birla Carbon (Thailand) Public Company Limited (BCT) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Birla Carbon (Thailand) Public Company Limited stock THB 61.15, price THB 56.75, upside +7.8%, quality 44 out of 100. Rating: fairly valued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 36.69 THB – 72.71 THB · fair‑value band 49.21 THB – 73.09 THB · the 56.75 THB price screens below the 61.15 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Birla Carbon (Thailand) Public Company Limited engages in the manufacture and sale of carbon black. The company's carbon solutions are used in tires, mechanical rubber goods, plastics, inks, coatings, energy systems, adhesives and sealants, and nonocyl applications.
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It operates in Thailand, Vietnam, Japan, the Philippines, Indonesia, Malaysia, Pakistan, Australia, and internationally. The company was formerly known as Thai Carbon Black Public Company Limited and changed its name to Birla Carbon (Thailand) Public Company Limited in July 2018.
Birla Carbon (Thailand) Public Company Limited was founded in 1978 and is headquartered in Bangkok, Thailand.
Stock analysis
Birla Carbon (Thailand) Public Company Limited (BCT) currently trades at 56.75 THB, while our model-based Fair Value estimate is 61.15 THB, so the stock looks roughly fairly valued today (gap 7.2%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 84.38 THB per share, and 7 of the 15 models we run sit above the 56.75 THB price.
Bear case: the Dividend Discount group reads lowest at 10.38 THB, and 8 of the 15 models stay below the price. Data coverage for this calculation is high.
Scenario range: 49.21 THB (bear) to 73.09 THB (bull), the price of 56.75 THB sits inside 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 44/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Birla Carbon (Thailand) Public Company Limited reported revenue of 9.6B THB in FY2025 versus 10.3B THB in FY2021, a compound −1.9%/yr. Reported net income was 1.8B THB in FY2025, compounding −19.0%/yr from FY2021.
Key figures
Market cap 17.0B THB (≈ $509M) Small · P/E ratio 7.4 · P/S ratio 1.82 · EPS (TTM) 7.62 THB · Dividend yield 1.8% · Net margin 24.5% · Return on equity 6.5% · Return on assets (EBIT) 9.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 39% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at 8%, BCT screens cheaper than that median.
Fair Value models
Bear49.21 THBFair Value 61.15 THBBull73.09 THB
Price 56.75 THB · Upside +7.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (5.68 THB per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−20.4%
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.
−9.4%
Revenue growth 5 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.
+13.2%
Start year 2020 (pandemic). Over 10 years: +7.0% a year
Revenue growth 22 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.
+4.2%
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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.
−3.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.1%
Dividend (yield on the price)1.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−5.1% vs 6.4%, slowing
Profit margin 2019 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.34% → 11%
Compare Birla Carbon (Thailand) Public Company Limited with another stock
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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.Specialty Chemicals · 728 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside+7.8% · Above median
Profitability
Return on equity (12 months)6.5% · Below median
Return on assets4.6% · Above median
Net margin (12 months)24.5% · Top 25%
Operating margin (12 months)1.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−8.2% · Bottom 25%
Dividend yield (12 months)1.8% · Above median
Balance sheet
Debt / equity0.10× · Below median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Birla Carbon (Thailand) Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/BCT
Frequently asked questions
Is Birla Carbon (Thailand) Public Company Limited (BCT) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 61.15 THB versus a price of 56.75 THB, about +8% upside (fairly valued).
What is the fair value of BCT?
Our model-based fair value for Birla Carbon (Thailand) Public Company Limited is 61.15 THB (as of Nov 7, 2026), built from audited fundamentals. The current price: 56.75 THB.
What is the quality score of BCT?
Birla Carbon (Thailand) Public Company Limited has a Quality Score of 44/100. 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 Birla Carbon (Thailand) Public Company Limited (BCT)?
Our model-based price target is the fair value of 61.15 THB (as of Nov 7, 2026) from 15 valuation models. Cautious scenario 49.21 THB, optimistic scenario 73.09 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Birla Carbon (Thailand) Public Company Limited stock forecast for 2026?
Our models put fair value at 61.15 THB, about +8% upside versus a price of 56.75 THB (fairly valued). Cautious scenario 49.21 THB, optimistic scenario 73.09 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Birla Carbon (Thailand) Public Company Limited (BCT)?
Birla Carbon (Thailand) Public Company Limited reported trailing-twelve-month revenue of about 9.4B THB (latest available figure, as of Nov 7, 2026).
Does Birla Carbon (Thailand) Public Company Limited pay a dividend?
Birla Carbon (Thailand) Public Company Limited currently shows a dividend yield of 1.76% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Birla Carbon (Thailand) Public Company Limited (BCT) and when is the ex-dividend date?
Birla Carbon (Thailand) Public Company Limited pays a dividend of 1.00 THB per share a year, a dividend yield of 1.8%. The last ex-dividend date was Jun 5, 2026. A dividend has been paid every year since 1999. The payout ratio is 13.1% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Birla Carbon (Thailand) Public Company Limited (BCT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Birla Carbon (Thailand) Public Company Limited it is 61.15 THB per share (as of Nov 7, 2026), against a price of 56.75 THB. It is the blended result of 15 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Birla Carbon (Thailand) Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 7, 2026, BCT trades below its calculated fair value: price 56.75 THB, fair value 61.15 THB, a gap of about +8% (fairly valued). 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 BCT?
No. The price is what the market pays today (56.75 THB); the fair value is what the company's own numbers justify (61.15 THB). For Birla Carbon (Thailand) Public Company Limited the two are 4.40 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Birla Carbon (Thailand) Public Company Limited worth?
The market values Birla Carbon (Thailand) Public Company Limited at about 17.0B THB (market capitalisation, as of Nov 7, 2026). Per share that is 56.75 THB; our models calculate a fair value of 61.15 THB per share.
What do the bullish and bearish scenarios say about BCT?
Our models span a range for Birla Carbon (Thailand) Public Company Limited: cautious scenario 49.21 THB, base 61.15 THB, optimistic 73.09 THB per share (as of Nov 7, 2026, price 56.75 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BCT?
Birla Carbon (Thailand) Public Company Limited trades at a price-to-earnings ratio of 7.4 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 61.15 THB is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 5.1. Other multiples: PEG 1.4, P/B 0.5, P/S 1.8, EV/EBITDA 17.7.
What is the PEG ratio of BCT?
The PEG ratio of Birla Carbon (Thailand) Public Company Limited is 1.39 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Birla Carbon (Thailand) Public Company Limited (BCT)?
Balance-sheet figures for Birla Carbon (Thailand) Public Company Limited (as of Nov 7, 2026): return on equity 6.5%, debt of 0.10 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is BCT from its 52-week high?
Birla Carbon (Thailand) Public Company Limited trades at 56.75 THB, about 5% below its 52-week high of 59.75 THB and 39% above the low of 40.93 THB (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 61.15 THB is for.
Which stocks are comparable to Birla Carbon (Thailand) Public Company Limited?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, 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 Birla Carbon (Thailand) Public Company Limited stock attractive at the current price?
The data as of Nov 7, 2026: price 56.75 THB, calculated fair value 61.15 THB (+8%), Quality Score 44/100, from 15 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 BCT calculated?
We run Birla Carbon (Thailand) Public Company Limited through 15 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 61.15 THB builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Birla Carbon (Thailand) Public Company Limited currently trades 7% below its own fair value, and the market average says nothing about that. 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 Birla Carbon (Thailand) Public Company Limited (BCT)?
The closing price on Nov 5, 2026 was 56.75 THB. Our model-based fair value is 61.15 THB, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Birla Carbon (Thailand) Public Company Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Birla Carbon (Thailand) Public Company Limited (BCT) come from?
Earnings per share at Birla Carbon (Thailand) Public Company Limited grew +8.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.6 %, EBIT margin −4.6 %, tax rate −0.6 %, residual (interest, one-offs) +5.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Birla Carbon (Thailand) Public Company Limited
How large is the market capitalisation of Birla Carbon (Thailand) Public Company Limited (BCT)?
The market capitalisation of Birla Carbon (Thailand) Public Company Limited is 17.0B THB (≈ $509M). 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 Birla Carbon (Thailand) Public Company Limited (BCT)?
The price-to-sales ratio of Birla Carbon (Thailand) Public Company Limited is 1.82 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Birla Carbon (Thailand) Public Company Limited (BCT)?
Earnings per share at Birla Carbon (Thailand) Public Company Limited are 7.62 THB (price ÷ EPS = P/E 7.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Birla Carbon (Thailand) Public Company Limited (BCT)?
The dividend yield of Birla Carbon (Thailand) Public Company Limited is 1.8% (payout 13.1%). 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 Birla Carbon (Thailand) Public Company Limited (BCT)?
The net margin of Birla Carbon (Thailand) Public Company Limited is 24.5% (last twelve months). 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 Birla Carbon (Thailand) Public Company Limited (BCT)?
The return on equity (ROE) of Birla Carbon (Thailand) Public Company Limited is 6.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Birla Carbon (Thailand) Public Company Limited (BCT)?
On an EBIT basis the return on assets of Birla Carbon (Thailand) Public Company Limited is 9.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Birla Carbon (Thailand) Public Company Limited (BCT)?
The operating margin of Birla Carbon (Thailand) Public Company Limited is 1.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Birla Carbon (Thailand) Public Company Limited (BCT)?
Revenue at Birla Carbon (Thailand) Public Company Limited is growing −8.2% versus a year earlier (3y avg −9.4%). 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 Birla Carbon (Thailand) Public Company Limited (BCT)?
Earnings per share at Birla Carbon (Thailand) Public Company Limited are growing +278% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Birla Carbon (Thailand) Public Company Limited (BCT) generate?
The free cash flow of Birla Carbon (Thailand) Public Company Limited is −2.5B 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 cash does Birla Carbon (Thailand) Public Company Limited (BCT) hold?
Birla Carbon (Thailand) Public Company Limited holds more cash than debt, 4.0B THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 7, 2026