Thaitheparos Public Company Limited (SAUCE) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Thaitheparos Public Company Limited stock THB 27.22, price THB 40.25, that is 32.4% below the price, quality 80 out of 100. Rating: overvalued. Calculated from audited financials with 24 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 8, 2026.
How to read this chart
60‑month range 22.45 THB – 42.00 THB · fair‑value band 19.55 THB – 36.31 THB · the 40.25 THB price screens above the 27.22 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Thaitheparos Public Company Limited manufactures and distributes sauces and condiments in Thailand and internationally.
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It offers seasoning food products, including seasoning sauces, distilled vinegar, hot and spicy chili sauces, ketchups, tomato sauces, oyster sauces, chicken sauces, light soy, dark soy, soy sauces, and Japanese soy sauces.
The company sells its products under the Golden Mountain, Kinzan, and E Zeee brands. The company was formerly known as Thai Theparos Food Products Public Company Limited and changed its name to Thaitheparos Public Company Limited in April 2011.
Thaitheparos Public Company Limited was founded in 1954 and is headquartered in Samut Prakan, Thailand.
Stock analysis
Thaitheparos Public Company Limited (SAUCE) currently trades at 40.25 THB, while our model-based Fair Value estimate is 27.22 THB, 32% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 36.07 THB per share, and 2 of the 24 models we run sit above the 40.25 THB price.
Bear case: the Asset-Based group reads lowest at 6.26 THB, and 22 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 19.55 THB (bear) to 36.31 THB (bull), the price of 40.25 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 80/100 (high quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Thaitheparos Public Company Limited reported revenue of 3.5B THB in FY2025 versus 3.1B THB in FY2021, a compound +3.0%/yr. Reported net income was 789M THB in FY2025, compounding +6.2%/yr from FY2021.
Key figures
Market cap 14.5B THB (≈ $433M) Small · P/E ratio 18.1 · P/S ratio 4.08 · EPS (TTM) 2.22 THB · Dividend yield 4.5% · Net margin 22.6% · Return on equity 27.1% · Return on assets (EBIT) 25.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 87 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −1% fair-value upside, at −32%, SAUCE screens richer than that median.
Fair Value models
Bear19.55 THBFair Value 27.22 THBBull36.31 THB
Price 40.25 THB · Downside -32.4%
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 (0.3516 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.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−0.4%
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.
+2.5%
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.
+3.6%
Start year 2020 (pandemic). Over 10 years: +2.4% a year
Revenue growth 25 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.
+3.4%
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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.
+12.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.7%
Dividend (yield on the price)4.5%
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.7.7% vs 7.2%, steady
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.23% → 26%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
+13.4%
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 +12.0% a year for the price.
Compare Thaitheparos 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.Packaged Foods · 625 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score80 · Top 25%
Fair Value upside−32.4% · Below median
Profitability
Return on equity (12 months)27.1% · Top 25%
Return on assets21.8% · Top 25%
Net margin (12 months)22.6% · Top 25%
Operating margin (12 months)26.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)2.7% · Below median
Dividend yield (12 months)4.5% · Above median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Packaged Foods median · lower = cheaper
P/E (12 months)18.1× · Pricier than median
P/B4.40× · Priciest 25%
P/S (12 months)4.08× · Priciest 25%
Price / free cash flow (fiscal year)21.5× · Pricier than median
EV/EBITDA12.7× · Pricier than median
PEG0.42× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 35
FUTURE (revenue growth)14· sector 25
PAST (return on equity)100· sector 31
HEALTH (low debt)100· sector 96
DIVIDEND (yield)90· sector 55
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). "Thaitheparos Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/SAUCE
Frequently asked questions
Is Thaitheparos Public Company Limited (SAUCE) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 27.22 THB versus a price of 40.25 THB, about 32% lower (overvalued).
What is the fair value of SAUCE?
Our model-based fair value for Thaitheparos Public Company Limited is 27.22 THB (as of Nov 8, 2026), built from audited fundamentals. The current price: 40.25 THB.
What is the quality score of SAUCE?
Thaitheparos Public Company Limited has a Quality Score of 80/100. 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 Thaitheparos Public Company Limited (SAUCE)?
Our model-based price target is the fair value of 27.22 THB (as of Nov 8, 2026) from 24 valuation models. Cautious scenario 19.55 THB, optimistic scenario 36.31 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Thaitheparos Public Company Limited stock forecast for 2026?
Our models put fair value at 27.22 THB, about 32% lower versus a price of 40.25 THB (overvalued). Cautious scenario 19.55 THB, optimistic scenario 36.31 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Thaitheparos Public Company Limited (SAUCE)?
Thaitheparos Public Company Limited reported trailing-twelve-month revenue of about 3.6B THB (latest available figure, as of Nov 8, 2026).
Does Thaitheparos Public Company Limited pay a dividend?
Thaitheparos Public Company Limited currently shows a dividend yield of 4.50% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Thaitheparos Public Company Limited (SAUCE) and when is the ex-dividend date?
Thaitheparos Public Company Limited pays a dividend of 1.81 THB per share a year, a dividend yield of 4.5%. The last ex-dividend date was Apr 30, 2026. A dividend has been paid every year since at least 1996. The payout ratio is 81.5% of earnings. Free cash flow covers the dividend 1.04 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Thaitheparos Public Company Limited (SAUCE)?
For today's price to be fair in a discounted-cash-flow model, Thaitheparos Public Company Limited would have to grow free cash flow by +13.4 % 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 +3.6 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of SAUCE use?
Our models discount Thaitheparos Public Company Limited at 11.6 %: a base by market capitalisation (small), damped by beta 0.02, 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 Thaitheparos Public Company Limited that is +13.4 % 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 Thaitheparos Public Company Limited (SAUCE) delivered so far?
Over the past 5 years revenue at Thaitheparos Public Company Limited grew +3.6 % a year. The price currently implies free-cash-flow growth of +13.4 % 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 Thaitheparos Public Company Limited (SAUCE) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Thaitheparos Public Company Limited (+13.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Thaitheparos Public Company Limited (SAUCE)?
The free-cash-flow yield on the price is 4.65 %: that much free cash flow Thaitheparos 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 Thaitheparos Public Company Limited (SAUCE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thaitheparos Public Company Limited it is 27.22 THB per share (as of Nov 8, 2026), against a price of 40.25 THB. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Thaitheparos Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 8, 2026, SAUCE trades above its calculated fair value: price 40.25 THB, fair value 27.22 THB, a gap of about −32% (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 SAUCE?
No. The price is what the market pays today (40.25 THB); the fair value is what the company's own numbers justify (27.22 THB). For Thaitheparos Public Company Limited the two are 13.03 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Thaitheparos Public Company Limited worth?
The market values Thaitheparos Public Company Limited at about 14.5B THB (market capitalisation, as of Nov 8, 2026). Per share that is 40.25 THB; our models calculate a fair value of 27.22 THB per share.
What do the bullish and bearish scenarios say about SAUCE?
Our models span a range for Thaitheparos Public Company Limited: cautious scenario 19.55 THB, base 27.22 THB, optimistic 36.31 THB per share (as of Nov 8, 2026, price 40.25 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SAUCE?
Thaitheparos Public Company Limited trades at a price-to-earnings ratio of 18.1 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 27.22 THB is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 18.5. Other multiples: PEG 0.4, P/B 4.4, P/S 4.1, EV/EBITDA 12.7.
What is the PEG ratio of SAUCE?
The PEG ratio of Thaitheparos Public Company Limited is 0.42 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Thaitheparos Public Company Limited (SAUCE)?
Balance-sheet figures for Thaitheparos Public Company Limited (as of Nov 8, 2026): return on equity 27.1%, debt of 0.00 per unit of equity. They feed the Quality Score of 80/100, which measures business quality independently of the share price.
How far is SAUCE from its 52-week high?
Thaitheparos Public Company Limited trades at 40.25 THB, about 4% below its 52-week high of 42.00 THB and 11% above the low of 36.35 THB (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 27.22 THB is for.
Which stocks are comparable to Thaitheparos Public Company Limited?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, Foshan Haitian Flavouring and Food Company, The Kraft Heinz Company, 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 Thaitheparos Public Company Limited stock attractive at the current price?
The data as of Nov 8, 2026: price 40.25 THB, calculated fair value 27.22 THB (−32%), Quality Score 80/100, from 24 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 SAUCE calculated?
We run Thaitheparos Public Company Limited through 24 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 27.22 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. Thaitheparos 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 Thaitheparos Public Company Limited (SAUCE)?
The closing price on Nov 9, 2026 was 40.25 THB. Our model-based fair value is 27.22 THB, about 32% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Thaitheparos Public Company Limited right now?
A high-quality business (quality 80/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (36.31 THB). The favourable scenario is already priced in. A fairly wide model range (19.55 THB to 36.31 THB) leaves room in how you read the outcome.
Where does the earnings growth of Thaitheparos Public Company Limited (SAUCE) come from?
Earnings per share at Thaitheparos Public Company Limited grew +7.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.0 %, EBIT margin +4.1 %, tax rate +0.0 %, residual (interest, one-offs) +0.3 %. 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 Thaitheparos Public Company Limited
How large is the market capitalisation of Thaitheparos Public Company Limited (SAUCE)?
The market capitalisation of Thaitheparos Public Company Limited is 14.5B THB (≈ $433M). 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 Thaitheparos Public Company Limited (SAUCE)?
The price-to-sales ratio of Thaitheparos Public Company Limited is 4.08 (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 Thaitheparos Public Company Limited (SAUCE)?
Earnings per share at Thaitheparos Public Company Limited are 2.22 THB (price ÷ EPS = P/E 18.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Thaitheparos Public Company Limited (SAUCE)?
The dividend yield of Thaitheparos Public Company Limited is 4.5% (payout 81.5%). 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 Thaitheparos Public Company Limited (SAUCE)?
The net margin of Thaitheparos Public Company Limited is 22.6% (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 Thaitheparos Public Company Limited (SAUCE)?
The return on equity (ROE) of Thaitheparos Public Company Limited is 27.1% (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 Thaitheparos Public Company Limited (SAUCE)?
On an EBIT basis the return on assets of Thaitheparos Public Company Limited is 25.8% (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 Thaitheparos Public Company Limited (SAUCE)?
The operating margin of Thaitheparos Public Company Limited is 26.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thaitheparos Public Company Limited (SAUCE)?
Revenue at Thaitheparos Public Company Limited is growing +2.7% versus a year earlier (3y avg +2.5%). 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 Thaitheparos Public Company Limited (SAUCE)?
Earnings per share at Thaitheparos Public Company Limited are growing +8.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Thaitheparos Public Company Limited (SAUCE) hold?
Thaitheparos Public Company Limited holds more cash than debt, 535M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 8, 2026