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AAPICO Hitech Public Company (AH) Fair Value & Analysis

Consumer Cyclical · TH · Market cap 5.2B THB

AH AAPICO Hitech Public Company AH · BK
Price15.70 THB
Fair Value31.60 THB
Upside+101.3%
Quality55/100
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Mixed Growth
Thin margins · 2.9% net margin
Low debt · generates free cash flow
5.10% dividend yield
Ranks above peers (9/15)
Narrow moat 35/100
Evidence: High Range 26.68 THB – 46.25 THB Share as image

Fair value as of: Jul 18, 2026

From 25 valuation models · updated 23 days ago

Share price +12.9% over the past month.

A solid business, screening 101% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (26.68 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

33.63 THB 9.93 THB Fair Value 31.60 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range 9.93 THB – 33.63 THB · fair‑value band 26.68 THB – 46.25 THB · the 15.70 THB price screens below the 31.60 THB fair value. Dashed = 300-day average. As of Jul 18, 2026.

Full chart & analysis →

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Analysis

AAPICO Hitech Public Company (AH) currently trades at 15.70 THB, while our model-based Fair Value estimate is 31.60 THB, implying the stock looks roughly 101.3% undervalued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Trailing-twelve-month revenue stands at 26.2B THB. Revenue grew 2.8% year over year. It earns a return on equity of 6.7%. Net debt stands at 3.9B THB. Fundamentals as of Jul 18, 2026

Our scenario range runs from 26.68 THB (bear case) to 46.25 THB (bull case); at 15.70 THB, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 101%, AH screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF 7.77 THB 11.91 THB 17.42 THB 80
Residual Income 25.71 THB 26.76 THB 27.71 THB 76
Rev-Margin DCF 9.80 THB 17.14 THB 25.19 THB 74
All 25 models by family
DCF Models
FCF DCF 7.56 THB 12.13 THB 18.54 THB 38
Owner Earnings 19.30 THB 29.21 THB 43.12 THB 31
5Y Revenue Exit 9.80 THB 17.11 THB 26.29 THB 39
5Y EBITDA Exit 27.09 THB 48.45 THB 72.96 THB 41
5Y P/E Exit 21.12 THB 37.64 THB 54.53 THB 38
10Y Revenue Exit 8.44 THB 14.75 THB 22.87 THB 36
10Y EBITDA Exit 19.49 THB 35.66 THB 56.69 THB 37
10Y P/E Exit 15.81 THB 28.44 THB 43.33 THB 35
Earnings-Based
Graham-Dodd 14.80 THB 39.03 THB 50.97 THB 54
PEG = 1.0 7.50 THB 10.71 THB 13.92 THB 46
EPV 8.80 THB 10.58 THB 12.12 THB 59
Dividend Discount
Gordon GGM 6.94 THB 13.63 THB 20.93 THB 70
DDM Multi-Stage 6.94 THB 10.53 THB 14.23 THB 61
Multiples
P/E Multiple 35.91 THB 47.88 THB 59.85 THB 63
P/S Multiple 27.75 THB 37.00 THB 46.25 THB 58
P/B Multiple 27.75 THB 37.00 THB 46.25 THB 55
EV/EBIT 18.92 THB 26.05 THB 33.18 THB 53
EV/EBITDA 44.22 THB 59.78 THB 75.34 THB 54
EV/Revenue 11.95 THB 18.13 THB 24.31 THB 43
Asset-Based
NCAV (Graham) 16.21 THB 21.72 THB 32.42 THB 50
Growth DCF
Growth DCF 7.77 THB 11.91 THB 17.42 THB 80
Rev-Margin DCF 9.80 THB 17.14 THB 25.19 THB 74
Economic Profit
Residual Income 25.71 THB 26.76 THB 27.71 THB 76
ROIC Compounder 8.80 THB 10.58 THB 12.12 THB 72
Growth Earnings
Growth-Adj P/E 28.02 THB 40.03 THB 52.03 THB 68

Widest divergence: Growth Earnings (40.03 THB) versus Dividend Discount (10.53 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 26.2B THB
Revenue growth (YoY) +2.8%
Return on equity 6.7%
Free cash flow 325M THB FY2025
P/E ratio 6.4
EPS (TTM) 2.21 THB
More key figures
EPS growth (YoY) -11.7%
Net debt 3.9B THB FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 52 · Market factors (momentum, volatility) 72

Profitability 38
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

AAPICO Hitech Public Company Limited engages in the manufacture and distribution of automobile parts, dies, and jigs in Thailand, China, Malaysia, and Portugal. It operates through three segments: Manufacture of Auto Parts; Sales of Automobiles and Provision of Automobiles Repair Service; and Others.

Full company description

AAPICO Hitech Public Company Limited engages in the manufacture and distribution of automobile parts, dies, and jigs in Thailand, China, Malaysia, and Portugal. It operates through three segments: Manufacture of Auto Parts; Sales of Automobiles and Provision of Automobiles Repair Service; and Others. The company offers pressed and stamped body parts, including floor parts, cross members, side sills, brackets, clips, and sub-assembly parts; chassis frame components; banjo type housing axles; plastic parts; and plastic fuel tanks and windshield washer systems. It also provides forged and machined parts for transmission systems, power train systems, steering and suspension systems, engine parts, shafts, wheel hubs, link shafts, companion flanges, and other parts, as well as casting parts and machining parts, assembly jigs, and stamping dies. In addition, the company is involved in the sale of automobiles; venture capital business; investment in other companies; and import and export of vehicles and parts. Further, it offers automobile repair, training, technical support, and information technology consulting and advisory services; car navigation systems and its derivatives; Oracle ERP consultancy; and car accessories. AAPICO Hitech Public Company Limited was founded in 1985 and is headquartered in Phra Nakhon Si Ayutthaya, Thailand.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AAPICO Hitech Public Company reported revenue of 25.8B THB in FY2025 versus 20.4B THB in FY2021, a compound +6.0%/yr. Reported net income was 731M THB in FY2025, compounding −8.1%/yr from FY2021.

Growth Quality 57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
25.8B THB
Latest YoY
−3.0%
Avg. growth/yr (3Y) 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.
−2.7%
Avg. growth/yr (5Y) 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.
+8.5%
Avg. growth/yr (22Y) 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.
+8.9%
Revenue +6.0%/yr
FY21 20.4B THB
FY22 28.0B THB
FY23 30.0B THB
FY24 26.6B THB
FY25 25.8B THB
Net income −8.1%/yr
FY21 1.0B THB
FY22 1.8B THB
FY23 1.6B THB
FY24 747M THB
FY25 731M THB
Character of growth · EPS growth decomposed (2014-2025) +11.1 % p.a.
Revenue per share +7.5 pp

of which total revenue +7.3 pp · buybacks/dilution +0.2 pp

EBIT margin +3.6 pp
Tax rate −0.5 pp
Residual (interest, one-offs) +0.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "AAPICO Hitech Public Company Fair Value". https://www.fairvalue-calculator.com/stock/AH

Peer Group

Auto Parts · 642 stocks

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.

Quality Score 55 · Above median
Fair Value upside +101% · Top 25%
Return on equity (TTM) 6% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth -6% · Bottom 25%
Dividend yield (TTM) 5.1% · Top 25%
Debt / equity 0.29× · Higher than 75% of peers

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 7.0× · Cheaper than 75% of peers
P/B 0.47× · Cheaper than 75% of peers
P/S (TTM) 0.20× · Cheaper than 75% of peers
P/FCF 0.5× · Cheaper than median
EV/EBITDA 3.5× · Cheaper than 75% of peers
PEG 0.08× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 16
FUTURE 0 · sector 23
PAST 26 · sector 26
HEALTH 86 · sector 95
DIVIDEND 100 · sector 30

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Auto Parts stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Hyundai Mobis Co 012330 482,000 KRW 678,420 KRW +41%
Magna International Inc MGAN 1,122 MXN 1,172 MXN +4%
Samvardhana Motherson International Limited MOTHERSON ₹144.17 ₹80.63 -44%
Bosch Limited BOSCHLTD ₹41,110 ₹14,004 -66%
Bharat Forge Limited BHARATFORG ₹2,117 ₹441.74 -79%
Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
Schaeffler India Limited SCHAEFFLER ₹4,135 ₹1,412 -66%
Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
Sona BLW Precision Forgings Limited SONACOMS ₹792.00 ₹207.06 -74%

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Frequently asked questions

Is AAPICO Hitech Public Company (AH) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 31.60 THB versus a price of 15.70 THB, about +101% (undervalued).
What is the fair value of AH?
Our model-based fair value for AAPICO Hitech Public Company is 31.60 THB (as of Jul 18, 2026), built from audited fundamentals. The current price is 15.70 THB.
What is the quality score of AH?
AAPICO Hitech Public Company has a Quality Score of 55/100. 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 revenue of AAPICO Hitech Public Company (AH)?
AAPICO Hitech Public Company reported trailing-twelve-month revenue of about 26.2B THB (latest available figure, as of Jul 18, 2026).
What is the net profit margin of AH?
The net profit margin of AAPICO Hitech Public Company is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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