Fine Metal Technologies Public Company Limited (FMT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Fine Metal Technologies Public Company Limited stock THB 8.26, price THB 21.00, that is 60.7% below the price, quality 46 out of 100. Rating: strongly overvalued. Calculated from audited financials with 10 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 3, 2026.
How to read this chart
60‑month range 16.30 THB – 35.51 THB · fair‑value band 7.54 THB – 21.46 THB · the 21.00 THB price screens above the 8.26 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 3, 2026.
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Fine Metal Technologies Public Company Limited manufactures and distributes seamless copper tubes for air-conditioners and refrigerators in Thailand, Japan, Malaysia, and internationally.
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It offers smooth tubes for heat exchanger and piping; fine multi-grooved tubes; accumulator tubes; and capillary tubes. The company was formerly known as Furukawa Metal (Thailand) Public Company Limited and changed its name to Fine Metal Technologies Public Company Limited in November 2020.
Fine Metal Technologies Public Company Limited was incorporated in 1988 and is headquartered in Bangkok, Thailand.
Stock analysis
Fine Metal Technologies Public Company Limited (FMT) currently trades at 21.00 THB, while our model-based Fair Value estimate is 8.26 THB, 61% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 18.84 THB per share, and 0 of the 10 models we run sit above the 21.00 THB price.
Bear case: the Earnings-Based group reads lowest at 0.9100 THB, and 10 of the 10 models stay below the price. Data coverage for this calculation is low.
Scenario range: 7.54 THB (bear) to 21.46 THB (bull), the price of 21.00 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 46/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Fine Metal Technologies Public Company Limited reported revenue of 6.8B THB in FY2025 versus 7.2B THB in FY2021, a compound −1.4%/yr. Reported net income was −77.7M THB in FY2025.
Key figures
Market cap 1.0B THB (≈ $30.0M) Micro · P/S ratio 0.15 · EPS (TTM) −0.4700 THB · Dividend yield 4.5% · Net margin −0.3% · Return on equity −1.6% · Return on assets (EBIT) 3.3% (5-year average) · Operating margin −0.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 17 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 29% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −38% fair-value upside, at −61%, FMT screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (0.9100 THB to 18.84 THB). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear7.54 THBFair Value 8.26 THBBull21.46 THB
Price 21.00 THB · Downside -60.7%
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.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.
Best data coverage
FCF DCF3.77 THB6.90 THB12.32 THB77
Growth DCF4.08 THB7.07 THB11.88 THB76
5Y EBITDA Exit7.94 THB15.38 THB25.05 THB73
All 10 models by family
DCF Models
FCF DCF3.77 THB6.90 THB12.32 THB77
5Y Revenue Exit1.84 THB4.98 THB9.46 THB68
5Y EBITDA Exit7.94 THB15.38 THB25.05 THB73
10Y Revenue Exit2.38 THB5.15 THB8.26 THB64
10Y EBITDA Exit6.13 THB11.69 THB18.09 THB67
Earnings-Based
EPVn/a0.9100 THB1.70 THB68
Multiples
EV/EBITDAn/a4.13 THB10.73 THB62
Asset-Based
NCAV (Graham)12.43 THB18.84 THB23.55 THB54
Growth DCF
Growth DCF4.08 THB7.07 THB11.88 THB76
Economic Profit
ROIC Compoundern/a0.9100 THB1.70 THB68
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.41/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
+2.3%
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.
+4.9%
Revenue growth 24 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.
+5.2%
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Profit margin (trend) ⓘ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.
2.3% (2020) → 0.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+68.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +66.0% a year for the price.
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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.Metal Fabrication · 259 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside−60.7% · Bottom 25%
Profitability
Return on assets−2.6% · Bottom 25%
Net margin (12 months)−0.3% · Bottom 25%
Operating margin (12 months)−0.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)21.8% · Above median
Dividend yield (12 months)4.5% · Top 25%
Balance sheet
Debt / equity0.30× · Highest 25%
Valuation Multiplesvs Metal Fabrication 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). "Fine Metal Technologies Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/FMT
Frequently asked questions
Is Fine Metal Technologies Public Company Limited (FMT) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 8.26 THB versus a price of 21.00 THB, about 61% lower (overvalued).
What is the fair value of FMT?
Our model-based fair value for Fine Metal Technologies Public Company Limited is 8.26 THB (as of Nov 3, 2026), built from audited fundamentals. The current price: 21.00 THB.
What is the quality score of FMT?
Fine Metal Technologies Public Company Limited has a Quality Score of 46/100. 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 Fine Metal Technologies Public Company Limited (FMT)?
Our model-based price target is the fair value of 8.26 THB (as of Nov 3, 2026) from 10 valuation models. Cautious scenario 7.54 THB, optimistic scenario 21.46 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Fine Metal Technologies Public Company Limited stock forecast for 2026?
Our models put fair value at 8.26 THB, about 61% lower versus a price of 21.00 THB (overvalued). Cautious scenario 7.54 THB, optimistic scenario 21.46 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Fine Metal Technologies Public Company Limited (FMT)?
Fine Metal Technologies Public Company Limited reported trailing-twelve-month revenue of about 7.1B THB (latest available figure, as of Nov 3, 2026).
Does Fine Metal Technologies Public Company Limited pay a dividend?
Fine Metal Technologies Public Company Limited currently shows a dividend yield of 4.50% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Fine Metal Technologies Public Company Limited (FMT)?
Fine Metal Technologies Public Company Limited has a dividend yield of 4.5%.
What growth is priced into Fine Metal Technologies Public Company Limited (FMT)?
For today's price to be fair in a discounted-cash-flow model, Fine Metal Technologies Public Company Limited would have to grow free cash flow by +68.0 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.2 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of FMT use?
Our models discount Fine Metal Technologies Public Company Limited at 10.1 %: a base by market capitalisation (nano), damped by beta 0.23, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Fine Metal Technologies Public Company Limited that is +68.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Fine Metal Technologies Public Company Limited (FMT) delivered so far?
Over the past 5 years revenue at Fine Metal Technologies Public Company Limited grew +7.2 % a year. The price currently implies free-cash-flow growth of +68.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Fine Metal Technologies Public Company Limited (FMT) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Fine Metal Technologies Public Company Limited (+68.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Fine Metal Technologies Public Company Limited (FMT)?
The free-cash-flow yield on the price is 0.78 %: that much free cash flow Fine Metal Technologies Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fine Metal Technologies Public Company Limited (FMT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fine Metal Technologies Public Company Limited it is 8.26 THB per share (as of Nov 3, 2026), against a price of 21.00 THB. It is the blended result of 10 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Fine Metal Technologies Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 3, 2026, FMT trades above its calculated fair value: price 21.00 THB, fair value 8.26 THB, a gap of about −61% (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 FMT?
No. The price is what the market pays today (21.00 THB); the fair value is what the company's own numbers justify (8.26 THB). For Fine Metal Technologies Public Company Limited the two are 12.74 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Fine Metal Technologies Public Company Limited worth?
The market values Fine Metal Technologies Public Company Limited at about 1.0B THB (market capitalisation, as of Nov 3, 2026). Per share that is 21.00 THB; our models calculate a fair value of 8.26 THB per share.
What do the bullish and bearish scenarios say about FMT?
Our models span a range for Fine Metal Technologies Public Company Limited: cautious scenario 7.54 THB, base 8.26 THB, optimistic 21.46 THB per share (as of Nov 3, 2026, price 21.00 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Fine Metal Technologies Public Company Limited (FMT)?
Balance-sheet figures for Fine Metal Technologies Public Company Limited (as of Nov 3, 2026): return on equity −1.6%, debt of 0.30 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is FMT from its 52-week high?
Fine Metal Technologies Public Company Limited trades at 21.00 THB, about 16% below its 52-week high of 25.00 THB and 29% above the low of 16.30 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 8.26 THB is for.
Which stocks are comparable to Fine Metal Technologies Public Company Limited?
From the same area (Industrials) we also value ATI Inc, Carpenter Technology Corporation, Mueller Industries, Inc, Bharat Forge 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 Fine Metal Technologies Public Company Limited stock attractive at the current price?
The data as of Nov 3, 2026: price 21.00 THB, calculated fair value 8.26 THB (−61%), Quality Score 46/100, from 10 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 FMT calculated?
We run Fine Metal Technologies Public Company Limited through 10 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 8.26 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 13.0% above its aggregate fair value. Fine Metal Technologies 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 Fine Metal Technologies Public Company Limited (FMT)?
The closing price on Nov 6, 2026 was 21.00 THB. Our model-based fair value is 8.26 THB, about 61% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fine Metal Technologies Public Company Limited right now?
Weak quality (46/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (7.54 THB to 21.46 THB). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Fine Metal Technologies Public Company Limited
How large is the market capitalisation of Fine Metal Technologies Public Company Limited (FMT)?
The market capitalisation of Fine Metal Technologies Public Company Limited is 1.0B THB (≈ $30.0M). 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 Fine Metal Technologies Public Company Limited (FMT)?
The price-to-sales ratio of Fine Metal Technologies Public Company Limited is 0.15 (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 Fine Metal Technologies Public Company Limited (FMT)?
Earnings per share at Fine Metal Technologies Public Company Limited are −0.4700 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fine Metal Technologies Public Company Limited (FMT)?
The dividend yield of Fine Metal Technologies Public Company Limited is 4.5%. 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 Fine Metal Technologies Public Company Limited (FMT)?
The net margin of Fine Metal Technologies Public Company Limited is −0.3% (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 Fine Metal Technologies Public Company Limited (FMT)?
The return on equity (ROE) of Fine Metal Technologies Public Company Limited is −1.6% (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 Fine Metal Technologies Public Company Limited (FMT)?
On an EBIT basis the return on assets of Fine Metal Technologies Public Company Limited is 3.3% (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 Fine Metal Technologies Public Company Limited (FMT)?
The operating margin of Fine Metal Technologies Public Company Limited is −0.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fine Metal Technologies Public Company Limited (FMT)?
Revenue at Fine Metal Technologies Public Company Limited is growing +21.8% versus a year earlier (3y avg −5.1%). 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 Fine Metal Technologies Public Company Limited (FMT)?
Earnings per share at Fine Metal Technologies Public Company Limited are growing +100% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Fine Metal Technologies Public Company Limited (FMT) carry?
The net debt of Fine Metal Technologies Public Company Limited is 1.1B THB (fiscal year 2025). 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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Thin data
Nov 3, 2026