Thai Mitsuwa Public Company Limited (TMW) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Thai Mitsuwa Public Company Limited stock THB 95.12, price THB 55.00, upside +72.9%, quality 60 out of 100. Rating: strongly 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
60‑month range 25.46 THB – 63.25 THB · fair‑value band 62.04 THB – 138.43 THB · the 55.00 THB price screens below the 95.12 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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Thai Mitsuwa Public Company Limited manufactures and sales plastic and magnesium products in Thailand and internationally. It operates through three segments: Manufacture and sales of plastic, Manufacture and sales of magnesium, and Manufacture and sales of mold.
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The company offers painting line, screen and pad printing, laser cutting, metalizing plastic parts line, and module assembling; line vibration welding parts (glove box); advanced inspection tool and potential components parts; mold fabrication and maintenance and new mold and jig design.
It also engages in the trading of mold products. Thai Mitsuwa Public Company Limited was founded in 1987 and is based in Muang, Thailand. Thai Mitsuwa Public Company Limited is a subsidiary of Mitsuwa Electric Industry Co., Ltd.
Stock analysis
Thai Mitsuwa Public Company Limited (TMW) currently trades at 55.00 THB, while our model-based Fair Value estimate is 95.12 THB, implying the stock looks roughly 42% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 219.19 THB per share, and 23 of the 26 models we run sit above the 55.00 THB price.
Bear case: the Asset-Based group reads lowest at 38.02 THB, and 3 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 62.04 THB (bear) to 138.43 THB (bull), the price of 55.00 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 60/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Thai Mitsuwa Public Company Limited reported revenue of 4.2B THB in FY2026 versus 3.1B THB in FY2022, a compound +8.2%/yr. Reported net income was 540M THB in FY2026, compounding +46.0%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap 2.2B THB (≈ $65.6M) Micro · P/E ratio 4.3 · P/S ratio 0.52 · EPS (TTM) 12.78 THB · Dividend yield 7.4% · Net margin 12.1% · Return on equity 13.2% · Return on assets (EBIT) 10.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at 73%, TMW screens cheaper than that median.
Fair Value models
Bear62.04 THBFair Value 95.12 THBBull138.43 THB
Price 55.00 THB · Upside +72.9%
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 (5.32 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 DCF71.40 THB90.05 THB113.75 THB80
Growth DCF71.18 THB86.91 THB105.52 THB77
Residual Income85.02 THB95.30 THB120.28 THB76
All 26 models by family
DCF Models
FCF DCF71.40 THB90.05 THB113.75 THB80
Owner Earnings71.13 THB89.66 THB113.22 THB75
5Y Revenue Exit104.99 THB160.98 THB234.27 THB70
5Y EBITDA Exit135.40 THB219.23 THB319.67 THB72
5Y P/E Exit131.93 THB212.58 THB299.62 THB68
10Y Revenue Exit86.38 THB128.13 THB186.91 THB64
10Y EBITDA Exit105.15 THB162.28 THB242.42 THB65
10Y P/E Exit103.28 THB158.38 THB229.39 THB61
Earnings-Based
Graham-Dodd92.11 THB323.42 THB435.00 THB64
Lynch FV75.47 THB107.82 THB140.16 THB61
PEG = 1.075.47 THB107.82 THB140.16 THB57
EPV120.25 THB130.95 THB139.56 THB70
Dividend Discount
Gordon GGM24.19 THB39.61 THB50.55 THB68
DDM Multi-Stage24.19 THB37.93 THB42.69 THB67
Multiples
P/E Multiple172.70 THB230.26 THB287.83 THB63
P/S Multiple118.16 THB157.55 THB196.94 THB58
P/B Multiple44.50 THB59.33 THB74.16 THB55
EV/EBIT196.61 THB253.73 THB310.86 THB63
EV/EBITDA204.97 THB264.88 THB324.79 THB64
EV/Revenue135.53 THB182.79 THB230.06 THB52
Asset-Based
NCAV (Graham)25.09 THB38.02 THB47.53 THB52
Growth DCF
Growth DCF71.18 THB86.91 THB105.52 THB77
Rev-Margin DCF104.99 THB159.90 THB224.74 THB70
Economic Profit
Residual Income85.02 THB95.30 THB120.28 THB76
ROIC Compounder124.12 THB141.90 THB161.28 THB70
Growth Earnings
Growth-Adj P/E153.43 THB219.19 THB284.95 THB67
The fair value above starts from this blend and is adjusted for a cyclical peak 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.79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.7%
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.
+4.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.1%
Start year 2021 (pandemic). Over 10 years: +6.8% a year
Revenue growth 19 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.
+6.0%
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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.
≈ +42.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +35.3%
Dividend (yield on the price)7.4%
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.base effect: 35.3% / 14.6%
Profit margin 2021 to 2026 ⓘ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.3% → 16%
⚠ Base effect: the rate starts in the earnings trough around 2021 (starting value 2.98 per share, median 6.38 in 2016 to 2019). It measures the recovery from the trough, not lasting growth.
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).
−8.4%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −9.5% a year for the price.
Compare Thai Mitsuwa Public Company Limited with another stock
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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 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+72.9% · Top 25%
Profitability
Return on equity (12 months)13.2% · Top 25%
Return on assets11.0% · Top 25%
Net margin (12 months)12.1% · Top 25%
Operating margin (12 months)14.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)0.4% · Below median
Dividend yield (12 months)7.4% · Top 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Thai Mitsuwa Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TMW
Frequently asked questions
Is Thai Mitsuwa Public Company Limited (TMW) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 95.12 THB versus a price of 55.00 THB, about +73% upside (undervalued).
What is the fair value of TMW?
Our model-based fair value for Thai Mitsuwa Public Company Limited is 95.12 THB (as of Nov 9, 2026), built from audited fundamentals. The current price: 55.00 THB.
What is the quality score of TMW?
Thai Mitsuwa Public Company Limited has a Quality Score of 60/100. 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 Mitsuwa Public Company Limited (TMW)?
Our model-based price target is the fair value of 95.12 THB (as of Nov 9, 2026) from 26 valuation models. Cautious scenario 62.04 THB, optimistic scenario 138.43 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Thai Mitsuwa Public Company Limited stock forecast for 2026?
Our models put fair value at 95.12 THB, about +73% upside versus a price of 55.00 THB (undervalued). Cautious scenario 62.04 THB, optimistic scenario 138.43 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Thai Mitsuwa Public Company Limited (TMW)?
Thai Mitsuwa Public Company Limited reported trailing-twelve-month revenue of about 4.2B THB (latest available figure, as of Nov 9, 2026).
Does Thai Mitsuwa Public Company Limited pay a dividend?
Thai Mitsuwa Public Company Limited currently shows a dividend yield of 7.40% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Thai Mitsuwa Public Company Limited (TMW) and when is the ex-dividend date?
Thai Mitsuwa Public Company Limited pays a dividend of 4.07 THB per share a year, a dividend yield of 7.4%. The last ex-dividend date was Aug 4, 2026. A dividend has been paid every year since at least 2004. The payout ratio is 31.8% of earnings. Free cash flow covers the dividend 1.32 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 Thai Mitsuwa Public Company Limited (TMW)?
For today's price to be fair in a discounted-cash-flow model, Thai Mitsuwa Public Company Limited would have to grow free cash flow by -8.4 % 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 +11.1 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of TMW use?
Our models discount Thai Mitsuwa Public Company Limited at 13.1 %: a base by market capitalisation (micro), damped by beta 0.49, 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 Thai Mitsuwa Public Company Limited that is -8.4 % 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 Thai Mitsuwa Public Company Limited (TMW) delivered so far?
Over the past 5 years revenue at Thai Mitsuwa Public Company Limited grew +11.1 % a year. The price currently implies free-cash-flow growth of -8.4 % 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 Thai Mitsuwa Public Company Limited (TMW) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Thai Mitsuwa Public Company Limited (-8.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Thai Mitsuwa Public Company Limited (TMW)?
The free-cash-flow yield on the price is 9.79 %: that much free cash flow Thai Mitsuwa Public Company Limited 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 Thai Mitsuwa Public Company Limited (TMW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thai Mitsuwa Public Company Limited it is 95.12 THB per share (as of Nov 9, 2026), against a price of 55.00 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 Thai Mitsuwa Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 9, 2026, TMW trades below its calculated fair value: price 55.00 THB, fair value 95.12 THB, a gap of about +73% (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 TMW?
No. The price is what the market pays today (55.00 THB); the fair value is what the company's own numbers justify (95.12 THB). For Thai Mitsuwa Public Company Limited the two are 40.12 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Thai Mitsuwa Public Company Limited worth?
The market values Thai Mitsuwa Public Company Limited at about 2.2B THB (market capitalisation, as of Nov 9, 2026). Per share that is 55.00 THB; our models calculate a fair value of 95.12 THB per share.
What do the bullish and bearish scenarios say about TMW?
Our models span a range for Thai Mitsuwa Public Company Limited: cautious scenario 62.04 THB, base 95.12 THB, optimistic 138.43 THB per share (as of Nov 9, 2026, price 55.00 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TMW?
Thai Mitsuwa Public Company Limited trades at a price-to-earnings ratio of 4.3 (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 95.12 THB is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings: 7.1. Other multiples: P/B 0.6, P/S 0.5, EV/EBITDA 1.2.
How solid is the balance sheet of Thai Mitsuwa Public Company Limited (TMW)?
Balance-sheet figures for Thai Mitsuwa Public Company Limited (as of Nov 9, 2026): return on equity 13.2%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is TMW from its 52-week high?
Thai Mitsuwa Public Company Limited trades at 55.00 THB, about 13% below its 52-week high of 63.25 THB and 9% above the low of 50.50 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 95.12 THB is for.
Which stocks are comparable to Thai Mitsuwa 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 Thai Mitsuwa Public Company Limited stock attractive at the current price?
The data as of Nov 9, 2026: price 55.00 THB, calculated fair value 95.12 THB (+73%), Quality Score 60/100, 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 TMW calculated?
We run Thai Mitsuwa Public Company Limited 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 95.12 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 Mitsuwa Public Company Limited currently trades 42% 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 Mitsuwa Public Company Limited (TMW)?
The closing price on Nov 6, 2026 was 55.00 THB. Our model-based fair value is 95.12 THB, about +73% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Thai Mitsuwa Public Company Limited right now?
The price is below even our cautious bear case (62.04 THB). The market is more pessimistic than our downside scenario. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (62.04 THB to 138.43 THB) leaves room in how you read the outcome.
Where does the earnings growth of Thai Mitsuwa Public Company Limited (TMW) come from?
Earnings per share at Thai Mitsuwa Public Company Limited grew +15.2 % a year from 2015 to 2026. Broken into its drivers: revenue per share +7.0 %, EBIT margin +7.5 %, tax rate +0.0 %, residual (interest, one-offs) +0.1 %. 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 Thai Mitsuwa Public Company Limited
How large is the market capitalisation of Thai Mitsuwa Public Company Limited (TMW)?
The market capitalisation of Thai Mitsuwa Public Company Limited is 2.2B THB (≈ $65.6M). 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 Mitsuwa Public Company Limited (TMW)?
The price-to-sales ratio of Thai Mitsuwa Public Company Limited is 0.52 (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 Mitsuwa Public Company Limited (TMW)?
Earnings per share at Thai Mitsuwa Public Company Limited are 12.78 THB (price ÷ EPS = P/E 4.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Thai Mitsuwa Public Company Limited (TMW)?
The dividend yield of Thai Mitsuwa Public Company Limited is 7.4% (payout 31.8%). 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 Thai Mitsuwa Public Company Limited (TMW)?
The net margin of Thai Mitsuwa Public Company Limited is 12.1% (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 Thai Mitsuwa Public Company Limited (TMW)?
The return on equity (ROE) of Thai Mitsuwa Public Company Limited is 13.2% (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 Mitsuwa Public Company Limited (TMW)?
On an EBIT basis the return on assets of Thai Mitsuwa Public Company Limited is 10.7% (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 Mitsuwa Public Company Limited (TMW)?
The operating margin of Thai Mitsuwa Public Company Limited is 14.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thai Mitsuwa Public Company Limited (TMW)?
Revenue at Thai Mitsuwa Public Company Limited is growing +0.4% versus a year earlier (3y avg +4.3%). 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 Mitsuwa Public Company Limited (TMW)?
Earnings per share at Thai Mitsuwa Public Company Limited are growing −19.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Thai Mitsuwa Public Company Limited (TMW) hold?
Thai Mitsuwa Public Company Limited holds more cash than debt, 1.0B THB net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 9, 2026