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STOCK COMPARISON

Thai Coating Industrial Public Company vs Smurfit WestRock: Fair Value & Quality

Both stocks run through our valuation models. Here is how Thai Coating Industrial Public Company (TCOAT) and Smurfit WestRock (SW) compare, as of Aug 31, 2026.

As of Aug 31, 2026, Fair Value Calculator sees Thai Coating Industrial Public Company as the less overvalued of the two: Thai Coating Industrial Public Company trades at THB 26.50 versus a fair value of THB 17.83 (-33%), while Smurfit WestRock trades at $48.29 versus $28.44 (-41%).
Thai Coating Industrial Public Company
TCOAT.BK · THB · Materials
-33%
upside to fair value
overvalued
PriceTHB 26.50
Fair ValueTHB 17.83
Quality54/100
Smurfit WestRock
SW · USD · Materials
-41%
upside to fair value
overvalued
Price$48.29
Fair Value$28.44
Quality32/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Thai Coating Industrial Public CompanySmurfit WestRock
Valuation
89.5×P/E (TTM)68.5×
0.45×P/S (TTM)0.73×
0.56×P/B1.06×
10.0×EV/EBITDA7.4×
0.31×PEG0.28×
1.9%Dividend yield3.6%
Dividend per share$1.75
Profitability
1%Net margin1%
2%Operating margin7%
1%Return on equity2%
0%Return on assets3%
Growth
-12%Revenue growth (YoY)1%
-5.5%Avg. growth/yr (3Y)35.2%
-0.7%Avg. growth/yr (5Y)29.6%
Balance & size
0.00×Debt / equity0.62×
$9MMarket cap$23B
weakGrowth qualitymixed

Smurfit WestRock leads: 3 to 10 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Thai Coating Industrial Public Companyof which business quality 54 · market factors 47 Smurfit WestRockof which business quality 34 · market factors 54
ProfitabilityMargins and returns on capital today
26
26
Quality GrowthAre margins and returns improving?
30
74
CashflowEarnings quality: real cash, not paper profit
35
44
Fin. StrengthBalance sheet, leverage, solvency risk
78
34
InvestmentDisciplined investing over empire-building
93
24
Low VolatilityCalm price path (market factor)
50
51
MomentumPrice trend over the last 3–12 months (market factor)
47
51
52W MomentumDistance to the 52-week high (market factor)
43
62
Net IssuanceBuybacks instead of dilution
82
0

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyThai Coating Industrial Public CompanyPrice THB 26.50Smurfit WestRockPrice $48.29
DCF Modelsn/a-44%below the price$27.22
Earnings-Basedn/a-68%below the price$15.40
Dividend Discount-85%below the priceTHB 3.88-37%below the price$30.19
Multiples-18%below the priceTHB 21.78-44%below the price$27.09
Asset-Based+24%above the priceTHB 32.99-43%below the price$27.50
Growth DCFn/a-39%below the price$29.57
Economic Profitn/a-50%below the price$23.97
Growth Earningsn/a-59%below the price$20.02
Minimum-85%below the priceTHB 3.88-68%below the price$15.40
Maximum+24%above the priceTHB 32.99-37%below the price$30.19
Median-18%below the priceTHB 21.78-44%below the price$27.16
Geometric mean-47%below the priceTHB 14.07-49%below the price$24.59

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Thai Coating Industrial Public Company: 3 of 4 models see the stock below the current price.

Smurfit WestRock: 23 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Thai Coating Industrial Public Company
Bear THB 12.96Fair Value THB 17.83Bull THB 22.69
THB 26.50 = current price (white tick)
Smurfit WestRock
Bear $19.63Fair Value $28.44Bull $35.55
$48.29 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Thai Coating Industrial Public Company · Materials

Quality score54 · above median
Fair value upside-33% · below median

Smurfit WestRock · Materials

Quality score32 · bottom 25%
Fair value upside-41% · below median

Bottom line

As of Aug 31, 2026, Fair Value Calculator sees Thai Coating Industrial Public Company as the less overvalued of the two: Thai Coating Industrial Public Company trades at THB 26.50 versus a fair value of THB 17.83 (-33%), while Smurfit WestRock trades at $48.29 versus $28.44 (-41%).

Thai Coating Industrial Public Company has the higher quality score (54/100).

See the full analysis →

More comparisons

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.