Polyplex (Thailand) Public Company Limited (PTL) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Polyplex (Thailand) Public Company Limited stock THB 9.18, price THB 13.30, that is 31.0% below the price, quality 48 out of 100. Rating: overvalued. Calculated from audited financials with 14 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 4, 2026.
How to read this chart
60‑month range 7.70 THB – 25.37 THB · fair‑value band 7.92 THB – 12.14 THB · the 13.30 THB price screens above the 9.18 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Polyplex (Thailand) Public Company Limited manufactures and distributes polyester films, metalized films, extrusion-coated films, cast polypropylene films, silicone-coated films, blown films, holographic films, and PET resins in Thailand and internationally.
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The company offers Sarafil, a range of plastic films, including BOPET, a thick and thin polyester resin film; BOPP, a transparent biaxially oriented polypropylene resin film; CPP films, transparent cast polypropylene films; BLOWN PP for packaging and industrial applications; and sustainable films for carbon footprint reduction.
It also provides Saracote, a range of silicone-coated films for use in pressure-sensitive adhesive applications as a carrier film for labels, tapes, roofing shingles, and peel-and-stick underlayments.
In addition, the company offers Saralam, a range of extrusion-coated film products comprising BOPET thermal lamination films for brochures, catalogues, menu cards, mark sheets, maps, and other publicity material; metallized BOPET lamination films for UV offset printing and roof insulation applications; and BOPP thermal lamination films for use in textbook covers, brochures, leaflets, sweet boxes, cosmetics, shopping bags, and diaries.
Further, it manufactures and distributes recycled plastic products and chips. Polyplex (Thailand) Public Company Limited was incorporated in 2002 and is headquartered in Bangkok, Thailand.
Stock analysis
Polyplex (Thailand) Public Company Limited (PTL) currently trades at 13.30 THB, while our model-based Fair Value estimate is 9.18 THB, 31% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 10.42 THB per share, and 3 of the 14 models we run sit above the 13.30 THB price.
Bear case: the Earnings-Based group reads lowest at 4.33 THB, and 11 of the 14 models stay below the price. Data coverage for this calculation is low.
Scenario range: 7.92 THB (bear) to 12.14 THB (bull), the price of 13.30 THB sits above 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 48/100 (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.
Polyplex (Thailand) Public Company Limited reported revenue of 20.4B THB in FY2026 versus 21.5B THB in FY2022, a compound −1.4%/yr. Reported net income was −177M THB in FY2026.
Key figures
Market cap 12.0B THB (≈ $358M) Small · P/E ratio 17.5 · P/S ratio 0.57 · EPS (TTM) 0.7600 THB · Dividend yield 0.9% · Net margin 3.2% · Return on equity 3.8% · Return on assets (EBIT) 7.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 73% 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 −31%, PTL screens cheaper than that median.
Fair Value models
Bear7.92 THBFair Value 9.18 THBBull12.14 THB
Price 13.30 THB · Downside -31.0%
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 2026 figures (about 7 months old). Earnings retained since then (0.3910 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.
Best data coverage
FCF DCF8.38 THB11.68 THB16.03 THB81
Growth DCF8.39 THB11.22 THB14.70 THB80
Owner Earnings4.96 THB6.72 THB9.04 THB77
All 14 models by family
DCF Models
FCF DCF8.38 THB11.68 THB16.03 THB81
Owner Earnings4.96 THB6.72 THB9.04 THB77
5Y Revenue Exit6.21 THB8.51 THB11.37 THB73
5Y EBITDA Exit10.70 THB17.01 THB24.41 THB75
10Y Revenue Exit6.95 THB9.15 THB11.96 THB68
10Y EBITDA Exit9.61 THB14.43 THB20.93 THB68
Earnings-Based
EPV3.96 THB4.33 THB4.65 THB74
Multiples
EV/EBIT3.10 THB4.59 THB6.07 THB65
EV/EBITDA11.38 THB15.62 THB19.86 THB67
EV/Revenue2.51 THB4.16 THB5.82 THB52
Asset-Based
NCAV (Graham)3.65 THB5.53 THB6.91 THB54
Growth DCF
Growth DCF8.39 THB11.22 THB14.70 THB80
Rev-Margin DCF6.21 THB8.60 THB11.43 THB73
Economic Profit
ROIC Compounder3.96 THB4.33 THB4.65 THB72
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−8.8%
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.
−8.2%
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.
+6.1%
Start year 2021 (pandemic). Over 10 years: +5.2% 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.
+12.1%
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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.
21.7% (2021) → 1.9% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 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).
+16.0%
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 +14.7% a year for the price.
Compare Polyplex (Thailand) Public Company Limited with another stock
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.Specialty Chemicals · 728 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−31.0% · Below median
Profitability
Return on equity (12 months)3.8% · Below median
Return on assets−0.7% · Bottom 25%
Net margin (12 months)3.2% · Below median
Operating margin (12 months)13.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)15.3% · Above median
Dividend yield (12 months)0.9% · Below median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/E (12 months)17.5× · Cheaper than median
P/B0.62× · Cheapest 25%
P/S (12 months)0.57× · Cheapest 25%
Price / free cash flow (fiscal year)20.5× · Pricier than median
EV/EBITDA5.3× · Cheapest 25%
PEG2.46× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)77· sector 67
PAST (return on equity)15· sector 27
HEALTH (low debt)99· sector 95
DIVIDEND (yield)18· sector 31
VALUE 0: the price sits above our fair-value range.
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). "Polyplex (Thailand) Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/PTL
Frequently asked questions
Is Polyplex (Thailand) Public Company Limited (PTL) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 9.18 THB versus a price of 13.30 THB, about 31% lower (overvalued).
What is the fair value of PTL?
Our model-based fair value for Polyplex (Thailand) Public Company Limited is 9.18 THB (as of Nov 4, 2026), built from audited fundamentals. The current price: 13.30 THB.
What is the quality score of PTL?
Polyplex (Thailand) Public Company Limited has a Quality Score of 48/100. 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 Polyplex (Thailand) Public Company Limited (PTL)?
Our model-based price target is the fair value of 9.18 THB (as of Nov 4, 2026) from 14 valuation models. Cautious scenario 7.92 THB, optimistic scenario 12.14 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Polyplex (Thailand) Public Company Limited stock forecast for 2026?
Our models put fair value at 9.18 THB, about 31% lower versus a price of 13.30 THB (overvalued). Cautious scenario 7.92 THB, optimistic scenario 12.14 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Polyplex (Thailand) Public Company Limited (PTL)?
Polyplex (Thailand) Public Company Limited reported trailing-twelve-month revenue of about 21.2B THB (latest available figure, as of Nov 4, 2026).
Does Polyplex (Thailand) Public Company Limited pay a dividend?
Polyplex (Thailand) Public Company Limited currently shows a dividend yield of 0.90% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Polyplex (Thailand) Public Company Limited (PTL) and when is the ex-dividend date?
Polyplex (Thailand) Public Company Limited pays a dividend of 0.12 THB per share a year, a dividend yield of 0.9%. The last ex-dividend date was Aug 10, 2026. A dividend has been paid every year since 2017. The payout ratio is 15.8% of earnings. Free cash flow covers the dividend 5.41 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Polyplex (Thailand) Public Company Limited (PTL)?
For today's price to be fair in a discounted-cash-flow model, Polyplex (Thailand) Public Company Limited would have to grow free cash flow by +16.0 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.1 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of PTL use?
Our models discount Polyplex (Thailand) Public Company Limited at 11.6 %: a base by market capitalisation (small), damped by beta 0.09, 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 Polyplex (Thailand) Public Company Limited that is +16.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Polyplex (Thailand) Public Company Limited (PTL) delivered so far?
Over the past 5 years revenue at Polyplex (Thailand) Public Company Limited grew +6.1 % a year. The price currently implies free-cash-flow growth of +16.0 % 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 Polyplex (Thailand) Public Company Limited (PTL) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Polyplex (Thailand) Public Company Limited (+16.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Polyplex (Thailand) Public Company Limited (PTL)?
The free-cash-flow yield on the price is 4.88 %: that much free cash flow Polyplex (Thailand) Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Polyplex (Thailand) Public Company Limited (PTL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Polyplex (Thailand) Public Company Limited it is 9.18 THB per share (as of Nov 4, 2026), against a price of 13.30 THB. It is the blended result of 14 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Polyplex (Thailand) Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 4, 2026, PTL trades above its calculated fair value: price 13.30 THB, fair value 9.18 THB, a gap of about −31% (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 PTL?
No. The price is what the market pays today (13.30 THB); the fair value is what the company's own numbers justify (9.18 THB). For Polyplex (Thailand) Public Company Limited the two are 4.12 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Polyplex (Thailand) Public Company Limited worth?
The market values Polyplex (Thailand) Public Company Limited at about 12.0B THB (market capitalisation, as of Nov 4, 2026). Per share that is 13.30 THB; our models calculate a fair value of 9.18 THB per share.
What do the bullish and bearish scenarios say about PTL?
Our models span a range for Polyplex (Thailand) Public Company Limited: cautious scenario 7.92 THB, base 9.18 THB, optimistic 12.14 THB per share (as of Nov 4, 2026, price 13.30 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PTL?
Polyplex (Thailand) Public Company Limited trades at a price-to-earnings ratio of 17.5 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 9.18 THB is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 7.6. Other multiples: PEG 2.5, P/B 0.6, P/S 0.6, EV/EBITDA 5.3.
What is the PEG ratio of PTL?
The PEG ratio of Polyplex (Thailand) Public Company Limited is 2.46 (P/E divided by earnings growth, as of Nov 4, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Polyplex (Thailand) Public Company Limited (PTL)?
Balance-sheet figures for Polyplex (Thailand) Public Company Limited (as of Nov 4, 2026): return on equity 3.8%, debt of 0.01 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is PTL from its 52-week high?
Polyplex (Thailand) Public Company Limited trades at 13.30 THB, about 11% below its 52-week high of 14.90 THB and 73% above the low of 7.70 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 9.18 THB is for.
Which stocks are comparable to Polyplex (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 Polyplex (Thailand) Public Company Limited stock attractive at the current price?
The data as of Nov 4, 2026: price 13.30 THB, calculated fair value 9.18 THB (−31%), Quality Score 48/100, from 14 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 PTL calculated?
We run Polyplex (Thailand) Public Company Limited through 14 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 9.18 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. Polyplex (Thailand) 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 Polyplex (Thailand) Public Company Limited (PTL)?
The closing price on Nov 6, 2026 was 13.30 THB. Our model-based fair value is 9.18 THB, about 31% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Polyplex (Thailand) Public Company Limited right now?
The price sits above even our optimistic bull case (12.14 THB). The favourable scenario is already priced in. Weak quality (48/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of Polyplex (Thailand) Public Company Limited (PTL) come from?
Earnings per share at Polyplex (Thailand) Public Company Limited grew −3.0 % a year from 2015 to 2026. Broken into its drivers: revenue per share +6.6 %, EBIT margin −4.1 %, tax rate −1.4 %, residual (interest, one-offs) −3.8 %. 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 Polyplex (Thailand) Public Company Limited
How large is the market capitalisation of Polyplex (Thailand) Public Company Limited (PTL)?
The market capitalisation of Polyplex (Thailand) Public Company Limited is 12.0B THB (≈ $358M). 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 Polyplex (Thailand) Public Company Limited (PTL)?
The price-to-sales ratio of Polyplex (Thailand) Public Company Limited is 0.57 (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 Polyplex (Thailand) Public Company Limited (PTL)?
Earnings per share at Polyplex (Thailand) Public Company Limited are 0.7600 THB (price ÷ EPS = P/E 17.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Polyplex (Thailand) Public Company Limited (PTL)?
The dividend yield of Polyplex (Thailand) Public Company Limited is 0.9% (payout 15.8%). 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 Polyplex (Thailand) Public Company Limited (PTL)?
The net margin of Polyplex (Thailand) Public Company Limited is 3.2% (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 Polyplex (Thailand) Public Company Limited (PTL)?
The return on equity (ROE) of Polyplex (Thailand) Public Company Limited is 3.8% (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 Polyplex (Thailand) Public Company Limited (PTL)?
On an EBIT basis the return on assets of Polyplex (Thailand) Public Company Limited is 7.0% (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 Polyplex (Thailand) Public Company Limited (PTL)?
The operating margin of Polyplex (Thailand) Public Company Limited is 13.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Polyplex (Thailand) Public Company Limited (PTL)?
Revenue at Polyplex (Thailand) Public Company Limited is growing +15.3% versus a year earlier (3y avg −8.2%). 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 Polyplex (Thailand) Public Company Limited (PTL)?
Earnings per share at Polyplex (Thailand) Public Company Limited are growing −74.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Polyplex (Thailand) Public Company Limited (PTL) carry?
The net debt of Polyplex (Thailand) Public Company Limited is 1.2B THB (fiscal year 2026, ≈ 2.1 yrs of FCF). 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 4, 2026