BJC Heavy Industries Public Company Limited (BJCHI) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of BJC Heavy Industries Public Company Limited THB 5.06, price THB 3.16, upside +60.0%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range 2.14 THB – 8.40 THB · fair‑value band 4.21 THB – 5.95 THB · the 3.16 THB price screens below the 5.06 THB fair value. Dashed = 300-day average. As of Oct 3, 2026.
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BJC Heavy Industries Public Company Limited manufactures and sells fabricated steel and equipment and provides modularization services in Thailand and internationally. It operates through Contract Revenues and Service Income segments.
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BJC Heavy Industries Public Company Limited manufactures and sells fabricated steel and equipment and provides modularization services in Thailand and internationally. It operates through Contract Revenues and Service Income segments. The company fabricates steel into various steel structures by cutting, bending, welding, and assembling structural steel, steel pipes, and components for use in piping spools, reformers and heaters, pressure vessels, and storage tanks. It also executes large-scale modularization projects; builds steel structures for mines, power plants, and industrial plants; and manufactures and sells a range of precast concrete products, including core loc breakwater, port construction materials, railway sleepers, pre-stressed concrete panels, and large files for use in the construction of harbors, bridges, and railways. In addition, the company provides built-up beams, as well as grating, galvanizing, and post-weld heat treatment services. Further, it serves oil and gas, mining, petrochemical, refining, power, and other industries. BJC Heavy Industries Public Company Limited was incorporated in 1994 and is headquartered in Rayong, Thailand.
Stock analysis
BJC Heavy Industries Public Company Limited (BJCHI) currently trades at 3.16 THB, while our model-based Fair Value estimate is 5.06 THB, implying the stock looks roughly 37.5% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 5.21 THB per share, and 8 of the 10 models we run sit above the 3.16 THB price.
Bear case: the Multiples group reads lowest at 2.43 THB, and 2 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: 4.21 THB (bear) to 5.95 THB (bull), the price of 3.16 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 59/100 (solid quality), in the Industrials sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
BJC Heavy Industries Public Company Limited reported revenue of 727M THB in FY2025 versus 1.3B THB in FY2021, a compound −14.2%/yr. Reported net income was −167M THB in FY2025.
Key figures
Market cap 1.3B THB (≈ $37.4M) · P/E ratio 158.0 · P/S ratio 1.66 · EPS (TTM) 0.0200 THB · Dividend yield 2.2% · Net margin −23.0% · Return on equity 0.2% · Return on assets (EBIT) 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 48% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −57% fair-value upside, at 60%, BJCHI screens cheaper than that median.
Fair Value models
Bear 4.21 THBFair Value 5.06 THBBull 5.95 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. 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.Evidence ⓘEvidence = 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.
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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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.
−12.0% (2020) → −9.2% (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
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
−8.3%
Yearly growth needed for the next five years to justify today's price.
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 −9.4% a year for the price.
Compare BJC Heavy Industries Public Company Limited with another stock
Price, fair value, quality and upside side by side.
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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.Metal Fabrication · 252 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score59 · Top 25%
Fair Value upside+63.0% · Top 25%
Profitability
Return on equity (TTM)0.2% · Below median
Return on assets−1.2% · Bottom 25%
Net margin (TTM)0.7% · Below median
Operating margin (TTM)−2.7% · Bottom 25%
Growth and dividend
Revenue growth14.1% · Above median
Dividend yield (TTM)2.2% · Above median
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
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Cite: Fair Value Calculator (2026). "BJC Heavy Industries Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/BJCHI
Frequently asked questions
Is BJC Heavy Industries Public Company Limited (BJCHI) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 5.06 THB versus a price of 3.16 THB, about +60% upside (undervalued).
What is the fair value of BJCHI?
Our model-based fair value for BJC Heavy Industries Public Company Limited is 5.06 THB (as of Oct 3, 2026), built from audited fundamentals. The current price: 3.16 THB.
What is the quality score of BJCHI?
BJC Heavy Industries Public Company Limited has a Quality Score of 59/100. 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 BJC Heavy Industries Public Company Limited (BJCHI)?
Our model-based price target is the fair value of 5.06 THB (as of Oct 3, 2026) from 10 valuation models. Cautious scenario 4.21 THB, optimistic scenario 5.95 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the BJC Heavy Industries Public Company Limited stock forecast for 2026?
Our models put fair value at 5.06 THB, about +60% upside versus a price of 3.16 THB (undervalued). Cautious scenario 4.21 THB, optimistic scenario 5.95 THB. The calculation is refreshed regularly with new filings.
What is the revenue of BJC Heavy Industries Public Company Limited (BJCHI)?
BJC Heavy Industries Public Company Limited reported trailing-twelve-month revenue of about 751M THB (latest available figure, as of Oct 3, 2026).
Does BJC Heavy Industries Public Company Limited pay a dividend?
BJC Heavy Industries Public Company Limited currently shows a dividend yield of about 2.15% relative to its recent price (as of Oct 3, 2026).
What growth is priced into BJC Heavy Industries Public Company Limited (BJCHI)?
For today's price to be fair in a discounted-cash-flow model, BJC Heavy Industries Public Company Limited would have to grow free cash flow by -8.3 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -18.0 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of BJCHI use?
Our models discount BJC Heavy Industries Public Company Limited at 11.6 %: a base by market capitalisation (nano), 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 BJC Heavy Industries Public Company Limited that is -8.3 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has BJC Heavy Industries Public Company Limited (BJCHI) delivered so far?
Over the past 5 years revenue at BJC Heavy Industries Public Company Limited grew -18.0 % a year. The price currently implies -8.3 % per year free-cash-flow growth a 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 BJC Heavy Industries Public Company Limited (BJCHI) growing?
The median revenue growth in the sector is +7.2 % a year. That is the yardstick for the growth priced into BJC Heavy Industries Public Company Limited (-8.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of BJC Heavy Industries Public Company Limited (BJCHI)?
The free-cash-flow yield on the price is 8.75 %: that much free cash flow BJC Heavy Industries Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of BJC Heavy Industries Public Company Limited (BJCHI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BJC Heavy Industries Public Company Limited it is 5.06 THB per share (as of Oct 3, 2026), against a price of 3.16 THB. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is BJC Heavy Industries Public Company Limited stock overvalued or undervalued in 2026?
As of Oct 3, 2026, BJCHI trades below its calculated fair value: price 3.16 THB, fair value 5.06 THB, a gap of about +60% (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 BJCHI?
No. The price is what the market pays today (3.16 THB); the fair value is what the company's own numbers justify (5.06 THB). For BJC Heavy Industries Public Company Limited the two are 1.90 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is BJC Heavy Industries Public Company Limited worth?
The market values BJC Heavy Industries Public Company Limited at about 1.3B THB (market capitalisation, as of Oct 3, 2026). Per share that is 3.16 THB; our models calculate a fair value of 5.06 THB per share.
What do the bullish and bearish scenarios say about BJCHI?
Our models span a range for BJC Heavy Industries Public Company Limited: cautious scenario 4.21 THB, base 5.06 THB, optimistic 5.95 THB per share (as of Oct 3, 2026, price 3.16 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BJCHI?
BJC Heavy Industries Public Company Limited trades at a price-to-earnings ratio of 158.0 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 5.06 THB is built from several models across several years. Other multiples: P/B 0.4, P/S 1.7, EV/EBITDA 22.6.
How solid is the balance sheet of BJC Heavy Industries Public Company Limited (BJCHI)?
Balance-sheet figures for BJC Heavy Industries Public Company Limited (as of Oct 3, 2026): return on equity 0.2%. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is BJCHI from its 52-week high?
BJC Heavy Industries Public Company Limited trades at 3.16 THB, about 14% below its 52-week high of 3.68 THB and 48% above the low of 2.14 THB (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 5.06 THB is for.
Which stocks are comparable to BJC Heavy Industries Public Company Limited?
From the same area (Industrials) we also value ATI Inc, Carpenter Technology Corporation, Mueller Industries, Inc, Bharat Forge 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 BJC Heavy Industries Public Company Limited stock attractive at the current price?
The data as of Oct 3, 2026: price 3.16 THB, calculated fair value 5.06 THB (+60%), Quality Score 59/100, from 10 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 BJCHI calculated?
We run BJC Heavy Industries Public Company Limited through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 5.06 THB, 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 14.5 % above its aggregate fair value. BJC Heavy Industries Public Company Limited currently trades 38 % 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 BJC Heavy Industries Public Company Limited (BJCHI)?
The closing price on Oct 2, 2026 was 3.16 THB. Our model-based fair value is 5.06 THB, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BJC Heavy Industries Public Company Limited right now?
The price is below even our cautious bear case (4.21 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. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of BJC Heavy Industries Public Company Limited
How large is the market capitalisation of BJC Heavy Industries Public Company Limited (BJCHI)?
The market capitalisation of BJC Heavy Industries Public Company Limited is 1.3B THB (≈ $37.4M). 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 BJC Heavy Industries Public Company Limited (BJCHI)?
The price-to-sales ratio of BJC Heavy Industries Public Company Limited is 1.66 (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 BJC Heavy Industries Public Company Limited (BJCHI)?
Earnings per share at BJC Heavy Industries Public Company Limited are 0.0200 THB (price ÷ EPS = P/E 158.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BJC Heavy Industries Public Company Limited (BJCHI)?
The dividend yield of BJC Heavy Industries Public Company Limited is 2.2%. 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 BJC Heavy Industries Public Company Limited (BJCHI)?
The net margin of BJC Heavy Industries Public Company Limited is −23.0% (fiscal year 2025). 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 BJC Heavy Industries Public Company Limited (BJCHI)?
The return on equity (ROE) of BJC Heavy Industries Public Company Limited is 0.2% (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 BJC Heavy Industries Public Company Limited (BJCHI)?
On an EBIT basis the return on assets of BJC Heavy Industries Public Company Limited is 2.8% (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 BJC Heavy Industries Public Company Limited (BJCHI)?
The operating margin of BJC Heavy Industries Public Company Limited is −2.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BJC Heavy Industries Public Company Limited (BJCHI)?
Revenue at BJC Heavy Industries Public Company Limited is growing +14.1% versus a year earlier (3y avg −35.5%). 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 BJC Heavy Industries Public Company Limited (BJCHI)?
Earnings per share at BJC Heavy Industries Public Company Limited are growing −35.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does BJC Heavy Industries Public Company Limited (BJCHI) hold?
BJC Heavy Industries Public Company Limited holds more cash than debt, 392M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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