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Thai-German Products Public Company Limited (TGPRO) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Thai-German Products Public Company Limited stock THB 0.11, price THB 0.04, upside +180.0%, quality 39 out of 100. Rating: strongly undervalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Basic Materials TH · ISIN TH0466B10Z09

TG Thai-German Products Public Company Limited logo Thin data Nov 7, 2026

Thai-German Products Public Company Limited

TGPRO · BK
Cheap, value-trap risk

The stock costs 64% less than our calculation considers fair.

Fair value 0.1120 THB · Strongly undervalued
Low debt
Even on cautious assumptions the value is 130% above the price (0.0920 THB).
Mixed vs. peers (5/11)
Quality 39/100
Weak Growth (revenue 5y −2.8 %/yr in THB)
Loss-making · -9.9% net margin (TTM)
Negative free cash flow
Narrow moat 13/100
Thin data
⟳ Cyclical⚠ Thinly traded
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

0.4700 THB 0.0200 THB Fair Value 0.1120 THB Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range 0.0200 THB – 0.4700 THB · fair‑value band 0.0920 THB – 0.1600 THB · the 0.0400 THB price screens below the 0.1120 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 7, 2026.

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Company profile

Thai-German Products Public Company Limited engages in the manufacture and sale of stainless steel pipes, sheets, axles, and equipment in Thailand. It operates through four segments: Stainless Sales and Service; Stereo Sales; Agriculture Selling, and Food Sales Segment.

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The company offers stainless shafts and stainless fittings; ornamental tubes; industrial stainless-steel pipes for water pipelines, water treatment plants, chemical pipelines, large equipment structures, starch industry, pulp and paper mills, oil and gas, chemical, the petrochemical industries, etc.; sanitary tubes for food, beverage, and pharmaceutical industries; heat exchanger/ boiler tubes for sugar, ice, power plant, and condenser industries; and stainless steel sheets for applications in indoor and outdoor decoration, furniture, kitchenware, refrigerator, etc., as well as sells food; and operates coffee and bakery shops, and steakhouse restaurants.

It also offers services, such as coil slitting, coil polishing, and sheet cutting for automotive, cold storage, kitchenware, etc.; quality checking for stainless-steel using spectrometer; and inspection testing services, including flanttening, flaring, flange, hydrostastic, and pneumatic tests.

In addition, the company engages in the sale of stereo equipment, telephone equipment, and spare parts; sale and rent of plant green house; and agricultural products, such as vegetables and seeds. It also exports its products.

The company was incorporated in 1973 and is headquartered in Rayong, Thailand.

Stock analysis

Thai-German Products Public Company Limited (TGPRO) currently trades at 0.0400 THB, while our model-based Fair Value estimate is 0.1120 THB, implying the stock looks roughly 64% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: 0.0920 THB (bear) to 0.1600 THB (bull), the price of 0.0400 THB sits below 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 39/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Thai-German Products Public Company Limited reported revenue of 1.4B THB in FY2025 versus 1.8B THB in FY2021, a compound −6.3%/yr. Reported net income was −146M THB in FY2025.

Key figures

Market cap 189M THB (≈ $5.6M) Micro · P/S ratio 0.10 · EPS (TTM) −0.0300 THB · Net margin −9.9% · Return on equity −8.7% · Return on assets (EBIT) −2.4% (5-year average) · Operating margin −2.3% · Revenue (TTM) 1.4B THB.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 13 out of 100 (medium confidence).

What moves the price

The share trades about 33% below its 52-week high and 100% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −34% fair-value upside, at 180%, TGPRO screens cheaper than that median.

Fair Value models

Bear 0.0920 THB Fair Value 0.1120 THB Bull 0.1600 THB
Price 0.0400 THB · Upside +180.0%
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. 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
NCAV (Graham) 0.1700 THB 0.2200 THB 0.3400 THB 53
All 1 models by family
Asset-Based
NCAV (Graham) 0.1700 THB 0.2200 THB 0.3400 THB 53

Open the full fair value analysis →

Quality Score breakdown

Overall quality 39/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 9
How much profit the company makes from its sales and capital
Quality Growth 43
Are margins and returns getting better?
Cashflow 1
Do the profits arrive as real cash?
Financial strength 43
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 57
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 31
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−6.4%
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.
−10.0%
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.
−2.8%
Start year 2020 (pandemic). Over 10 years: −0.3% 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.
+2.1%
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.
−1.0% (2020) → −8.4% (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

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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.Steel · 410 stocks

Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside +180.0% · Top 25%
Profitability
Return on assets −5.7% · Bottom 25%
Net margin (12 months) −9.9% · Bottom 25%
Operating margin (12 months) −2.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −4.7% · Below median
Balance sheet
Debt / equity 0.04× · Below median

Valuation Multiplesvs Steel median · lower = cheaper

P/B 0.12× · Cheapest 25%
P/S (12 months) 0.13× · Cheapest 25%
PEG 0.17× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 22
FUTURE (revenue growth)0 · sector 38
PAST (return on equity)0 · sector 19
HEALTH (low debt)98 · sector 95
DIVIDEND (yield)0 · sector 52

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Baoshan Iron & Steel Co 600019 ¥6.11 ¥8.07 +32% vs TGPRO
POSCO Holdings 005490 265,000 KRW 240,001 KRW −9% vs TGPRO
Tata Steel Limited TATASTEEL ₹186.30 ₹148.06 −21% vs TGPRO
JSW Steel Limited JSWSTEEL ₹1,357 ₹1,029 −24% vs TGPRO
ArcelorMittal S.A MT €54.82 €36.18 −34% vs TGPRO
Reliance, Inc RS $417.00 $211.54 −49% vs TGPRO
Nucor Corporation NUE $244.97 $116.49 −52% vs TGPRO
Jindal Steel Limited JINDALSTEL ₹1,165 ₹516.03 −56% vs TGPRO
Steel Dynamics, Inc STLD $222.90 $89.54 −60% vs TGPRO
Inner Mongolia Baotou Steel Union Co 600010 ¥1.99 ¥0.5400 −73% vs TGPRO

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Thai-German Products Public Company Limited: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Thai-German Products Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TGPRO

Frequently asked questions

Is Thai-German Products Public Company Limited (TGPRO) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 0.1120 THB versus a price of 0.0400 THB, about +180% upside (undervalued).
What is the fair value of TGPRO?
Our model-based fair value for Thai-German Products Public Company Limited is 0.1120 THB (as of Nov 7, 2026), built from audited fundamentals. The current price: 0.0400 THB.
What is the quality score of TGPRO?
Thai-German Products Public Company Limited has a Quality Score of 39/100. 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 Thai-German Products Public Company Limited (TGPRO)?
Our model-based price target is the fair value of 0.1120 THB (as of Nov 7, 2026) from 1 valuation models. Cautious scenario 0.0920 THB, optimistic scenario 0.1600 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Thai-German Products Public Company Limited stock forecast for 2026?
Our models put fair value at 0.1120 THB, about +180% upside versus a price of 0.0400 THB (undervalued). Cautious scenario 0.0920 THB, optimistic scenario 0.1600 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Thai-German Products Public Company Limited (TGPRO)?
Thai-German Products Public Company Limited reported trailing-twelve-month revenue of about 1.4B THB (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Thai-German Products Public Company Limited (TGPRO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thai-German Products Public Company Limited it is 0.1120 THB per share (as of Nov 7, 2026), against a price of 0.0400 THB. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Thai-German Products Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 7, 2026, TGPRO trades below its calculated fair value: price 0.0400 THB, fair value 0.1120 THB, a gap of about +180% (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 TGPRO?
No. The price is what the market pays today (0.0400 THB); the fair value is what the company's own numbers justify (0.1120 THB). For Thai-German Products Public Company Limited the two are 0.0720 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Thai-German Products Public Company Limited worth?
The market values Thai-German Products Public Company Limited at about 189M THB (market capitalisation, as of Nov 7, 2026). Per share that is 0.0400 THB; our models calculate a fair value of 0.1120 THB per share.
What do the bullish and bearish scenarios say about TGPRO?
Our models span a range for Thai-German Products Public Company Limited: cautious scenario 0.0920 THB, base 0.1120 THB, optimistic 0.1600 THB per share (as of Nov 7, 2026, price 0.0400 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of TGPRO?
The PEG ratio of Thai-German Products Public Company Limited is 0.17 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Thai-German Products Public Company Limited (TGPRO)?
Balance-sheet figures for Thai-German Products Public Company Limited (as of Nov 7, 2026): return on equity −8.7%, debt of 0.04 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is TGPRO from its 52-week high?
Thai-German Products Public Company Limited trades at 0.0400 THB, about 33% below its 52-week high of 0.0600 THB and 100% above the low of 0.0200 THB (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 0.1120 THB is for.
Which stocks are comparable to Thai-German Products Public Company Limited?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel 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 Thai-German Products Public Company Limited stock attractive at the current price?
The data as of Nov 7, 2026: price 0.0400 THB, calculated fair value 0.1120 THB (+180%), Quality Score 39/100, from 1 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 TGPRO calculated?
We run Thai-German Products Public Company Limited through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 0.1120 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. Thai-German Products Public Company Limited currently trades 64% 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 Thai-German Products Public Company Limited (TGPRO)?
The closing price on Nov 9, 2026 was 0.0400 THB. Our model-based fair value is 0.1120 THB, about +180% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Thai-German Products Public Company Limited right now?
The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (0.0920 THB). The market is more pessimistic than our downside scenario. 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 Thai-German Products Public Company Limited

How large is the market capitalisation of Thai-German Products Public Company Limited (TGPRO)?
The market capitalisation of Thai-German Products Public Company Limited is 189M THB (≈ $5.6M). 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 Thai-German Products Public Company Limited (TGPRO)?
The price-to-sales ratio of Thai-German Products Public Company Limited is 0.10 (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 Thai-German Products Public Company Limited (TGPRO)?
Earnings per share at Thai-German Products Public Company Limited are −0.0300 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Thai-German Products Public Company Limited (TGPRO)?
The net margin of Thai-German Products Public Company Limited is −9.9% (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 Thai-German Products Public Company Limited (TGPRO)?
The return on equity (ROE) of Thai-German Products Public Company Limited is −8.7% (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 Thai-German Products Public Company Limited (TGPRO)?
On an EBIT basis the return on assets of Thai-German Products Public Company Limited is −2.4% (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 Thai-German Products Public Company Limited (TGPRO)?
The operating margin of Thai-German Products Public Company Limited is −2.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thai-German Products Public Company Limited (TGPRO)?
Revenue at Thai-German Products Public Company Limited is growing −4.7% versus a year earlier (3y avg −10.0%). 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 Thai-German Products Public Company Limited (TGPRO)?
Earnings per share at Thai-German Products Public Company Limited are growing −20.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Thai-German Products Public Company Limited (TGPRO) generate?
The free cash flow of Thai-German Products Public Company Limited is −68.4M THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Thai-German Products Public Company Limited (TGPRO) carry?
The net debt of Thai-German Products Public Company Limited is 660M 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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