A.J. Plast Public Company Limited (AJ) Fair Value & Analysis

Consumer Cyclical · TH · Market cap 1.9B THB (≈ $56.4M) · ISIN TH0214010Z07

Below-average quality, and trading another 13% above our fair value.

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 →

What matters now

• A fairly wide model range (2.41 THB to 4.81 THB) leaves room in how you read the outcome.
• Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 26, 2026.

How to read this chart

60‑month range 1.54 THB – 26.16 THB · fair‑value band 2.41 THB – 4.81 THB · the 3.64 THB price screens above the 3.22 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. Dashed = 300-day average. As of Aug 26, 2026.

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Analysis

A.J. Plast Public Company Limited (AJ) currently trades at 3.64 THB, while our model-based Fair Value estimate is 3.22 THB, implying the stock looks roughly 11.5% overvalued today. The Quality Score stands at 25/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, A.J. Plast Public Company Limited generated revenue of 7.4B THB at a net margin of -8.6%. Revenue declined 18.4% year over year. It earns a return on equity of -15.2%. Net debt stands at 8.3B THB. Fundamentals as of Aug 26, 2026

Our scenario range runs from 2.41 THB (bear case) to 4.81 THB (bull case); at 3.64 THB, the current price sits within 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 141% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -39% fair-value upside, at -12%, AJ 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.

Key figures & financial health

Quality Score breakdown

About the company

A.J. Plast Public Company Limited engages in the manufacture, sale, and export of plastic films and scrap products in Thailand and internationally.

Full company description

A.J. Plast Public Company Limited engages in the manufacture, sale, and export of plastic films and scrap products in Thailand and internationally. The company provides biaxially oriented polypropylene films for printed packaging; lamination products and adhesive tapes; packaging of bread, garment, agricultural products, etc.; wrapping film for tobacco, CD, cosmetic, etc. It offers biaxially oriented polyethylene film for snack and confectionery, coffee, tea and milk powder, household chemicals, and cup lid, as well as air duct wrapping material and insulation, lamination and hot stamping foil, and yarn and thread; and biaxially oriented polyamide film for retort foods, ham and sausage, rice and grain, metallized balloons, frozen foods and liquid foods, oil and cheese packing, and vacuum packing. In addition, the company provides cast polypropylene film for bread or noodle packaging, retort pouch and dry fruit and meat packaging; metallized film applications; and offers earth care solutions. The company was founded in 1987 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

A.J. Plast Public Company Limited reported revenue of 7.8B THB in FY2025 versus 9.3B THB in FY2021, a compound −4.3%/yr. Reported net income was −553M THB in FY2025.

AJ screens 12% overvalued. Compare with Smurfit Westrock Plc, →

Peer Group

Packaging & Containers · 274 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.

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.

Values & ESG

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

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Frequently asked questions

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.