Polynet PCL (POLY) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Polynet PCL stock THB 9.26, price THB 6.90, upside +34.2%, quality 82 out of 100. Rating: undervalued. Calculated from audited financials with 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 9, 2026.
How to read this chart
48‑month range 6.00 THB – 13.11 THB · fair‑value band 5.75 THB – 13.66 THB · the 6.90 THB price screens below the 9.26 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Polynet Public Company Limited manufactures and sells rubber, plastic, silicone, and molds products in Thailand.
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It offers car ventilation grill, wiring harness cover, door seal, snubber, mudguard, air hose, rubber seal, rubber hose clamp, brake protective rubber, axle rubber cover, dust seal, steering rubber, stabilizer rubber, rope, silicone valve, and airbag cover products for automotive industries.
The company also provides steam releaser, silicone seal, drain valve, light bulb seal, food container lid, rubber seal, tea strainer, plastic lid, breast pump device, silicone straw, baby training cup, silicone chopstick assistor, and anti-slippery rubber products, as well as food container for pets; rubber tire caps; and basketball, volleyball, handball, and rubber surfaces for consumer goods industries.
In addition, it offers sperm guide, sparkle cannula, nasal pillow, menstrual cup, oxygen mask, nasal irrigation silicone tip, silicon sleeve, universal closed system, and silicone tubing products for medical devices and equipment industries.
Polynet Public Company Limited was founded in 1999 and is headquartered in Bang Sao Thong, Thailand.
Stock analysis
Polynet PCL (POLY) currently trades at 6.90 THB, while our model-based Fair Value estimate is 9.26 THB, implying the stock looks roughly 25% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 11.46 THB per share, and 12 of the 26 models we run sit above the 6.90 THB price.
Bear case: the Economic Profit group reads lowest at 4.58 THB, and 14 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 5.75 THB (bear) to 13.66 THB (bull), the price of 6.90 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 82/100 (high quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Polynet PCL reported revenue of 1.2B THB in FY2025 versus 786M THB in FY2021, a compound +11.1%/yr. Reported net income was 268M THB in FY2025, compounding +22.0%/yr from FY2021.
Key figures
Market cap 3.1B THB (≈ $92.8M) Micro · P/E ratio 11.0 · P/S ratio 2.50 · EPS (TTM) 0.6300 THB · Dividend yield 8.7% · Net margin 23.1% · Return on equity 21.7% · Return on assets (EBIT) 13.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 83 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −39% fair-value upside, at 34%, POLY screens cheaper than that median.
Fair Value models
Bear5.75 THBFair Value 9.26 THBBull13.66 THB
Price 6.90 THB · Upside +34.2%
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 (0.0257 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.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+17.1%
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.
+3.5%
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.
+18.1%
Start year 2020 (pandemic)
Revenue growth 7 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.
+8.5%
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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.
+73.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+65.2%
Dividend (yield on the price)8.7%
Profit margin 2020 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.8% → 25%
Growth Forecast
Little optimism in the price
The price assumes less 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).
+7.0%
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 +5.7% a year for the price.
Price, fair value, quality and upside side by side.
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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 · 260 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score82 · Top 25%
Fair Value upside+34.2% · Top 25%
Profitability
Return on equity (12 months)21.7% · Top 25%
Return on assets17.6% · Top 25%
Net margin (12 months)23.1% · Top 25%
Operating margin (12 months)25.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)21.7% · Above median
Dividend yield (12 months)8.7% · Top 25%
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
P/E (12 months)11.0× · Cheapest 25%
P/B2.34× · Pricier than median
P/S (12 months)2.50× · Pricier than median
Price / free cash flow (fiscal year)13.0× · Cheaper than median
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Cite: Fair Value Calculator (2026). "Polynet PCL Fair Value". https://www.fairvalue-calculator.com/stock/POLY
Frequently asked questions
Is Polynet PCL (POLY) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 9.26 THB versus a price of 6.90 THB, about +34% upside (undervalued).
What is the fair value of POLY?
Our model-based fair value for Polynet PCL is 9.26 THB (as of Nov 9, 2026), built from audited fundamentals. The current price: 6.90 THB.
What is the quality score of POLY?
Polynet PCL has a Quality Score of 82/100. 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 Polynet PCL (POLY)?
Our model-based price target is the fair value of 9.26 THB (as of Nov 9, 2026) from 26 valuation models. Cautious scenario 5.75 THB, optimistic scenario 13.66 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Polynet PCL stock forecast for 2026?
Our models put fair value at 9.26 THB, about +34% upside versus a price of 6.90 THB (undervalued). Cautious scenario 5.75 THB, optimistic scenario 13.66 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Polynet PCL (POLY)?
Polynet PCL reported trailing-twelve-month revenue of about 1.2B THB (latest available figure, as of Nov 9, 2026).
Does Polynet PCL pay a dividend?
Polynet PCL currently shows a dividend yield of 8.70% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Polynet PCL (POLY) and when is the ex-dividend date?
Polynet PCL pays a dividend of 0.6 THB per share a year, a dividend yield of 8.7%. The last ex-dividend date was Aug 27, 2026. The payout ratio is 95.2% of earnings. Free cash flow covers the dividend 0.88 times. 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 growth is priced into Polynet PCL (POLY)?
For today's price to be fair in a discounted-cash-flow model, Polynet PCL would have to grow free cash flow by +7.0 % per year for five years (discount rate 13.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +18.1 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of POLY use?
Our models discount Polynet PCL at 13.1 %: a base by market capitalisation (micro), damped by beta 0.20, 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 Polynet PCL that is +7.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.1 %) and the same formula as our fair value.
How much growth has Polynet PCL (POLY) delivered so far?
Over the past 5 years revenue at Polynet PCL grew +18.1 % a year. The price currently implies free-cash-flow growth of +7.0 % 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 Polynet PCL (POLY) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Polynet PCL (+7.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Polynet PCL (POLY)?
The free-cash-flow yield on the price is 7.67 %: that much free cash flow Polynet PCL produces per unit of market value. When it exceeds the discount rate of our models (13.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Polynet PCL (POLY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Polynet PCL it is 9.26 THB per share (as of Nov 9, 2026), against a price of 6.90 THB. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Polynet PCL stock overvalued or undervalued in 2026?
As of Nov 9, 2026, POLY trades below its calculated fair value: price 6.90 THB, fair value 9.26 THB, a gap of about +34% (undervalued). 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 POLY?
No. The price is what the market pays today (6.90 THB); the fair value is what the company's own numbers justify (9.26 THB). For Polynet PCL the two are 2.36 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Polynet PCL worth?
The market values Polynet PCL at about 3.1B THB (market capitalisation, as of Nov 9, 2026). Per share that is 6.90 THB; our models calculate a fair value of 9.26 THB per share.
What do the bullish and bearish scenarios say about POLY?
Our models span a range for Polynet PCL: cautious scenario 5.75 THB, base 9.26 THB, optimistic 13.66 THB per share (as of Nov 9, 2026, price 6.90 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of POLY?
Polynet PCL trades at a price-to-earnings ratio of 11.0 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 9.26 THB is built from several models across several years. Other multiples: P/B 2.3, P/S 2.5, EV/EBITDA 7.2.
How solid is the balance sheet of Polynet PCL (POLY)?
Balance-sheet figures for Polynet PCL (as of Nov 9, 2026): return on equity 21.7%. They feed the Quality Score of 82/100, which measures business quality independently of the share price.
How far is POLY from its 52-week high?
Polynet PCL trades at 6.90 THB, about 13% below its 52-week high of 7.90 THB and 6% above the low of 6.50 THB (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 9.26 THB is for.
Which stocks are comparable to Polynet PCL?
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 Polynet PCL stock attractive at the current price?
The data as of Nov 9, 2026: price 6.90 THB, calculated fair value 9.26 THB (+34%), Quality Score 82/100, from 26 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 POLY calculated?
We run Polynet PCL through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 9.26 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 13.3% above its aggregate fair value. Polynet PCL currently trades 25% 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 Polynet PCL (POLY)?
The closing price on Nov 9, 2026 was 6.90 THB. Our model-based fair value is 9.26 THB, about +34% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Polynet PCL right now?
The rarer combination: high quality (82/100) AND below fair value. That earns a closer look rather than a quick verdict. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (5.75 THB to 13.66 THB) leaves room in how you read the outcome.
Key figures of Polynet PCL
How large is the market capitalisation of Polynet PCL (POLY)?
The market capitalisation of Polynet PCL is 3.1B THB (≈ $92.8M). 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 Polynet PCL (POLY)?
The price-to-sales ratio of Polynet PCL is 2.50 (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 Polynet PCL (POLY)?
Earnings per share at Polynet PCL are 0.6300 THB (price ÷ EPS = P/E 11.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Polynet PCL (POLY)?
The dividend yield of Polynet PCL is 8.7% (payout 95.2%). 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 Polynet PCL (POLY)?
The net margin of Polynet PCL is 23.1% (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 Polynet PCL (POLY)?
The return on equity (ROE) of Polynet PCL is 21.7% (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 Polynet PCL (POLY)?
On an EBIT basis the return on assets of Polynet PCL is 13.8% (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 Polynet PCL (POLY)?
The operating margin of Polynet PCL is 25.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Polynet PCL (POLY)?
Revenue at Polynet PCL is growing +21.7% versus a year earlier (3y avg +3.5%). 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 Polynet PCL (POLY)?
Earnings per share at Polynet PCL are growing +45.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Polynet PCL (POLY) hold?
Polynet PCL holds more cash than debt, 90.7M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 9, 2026