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Bangsaphan Barmill Public Company Limited (BSBM) Fair Value & Analysis

Basic Materials · TH · Market cap 751M THB

BB Bangsaphan Barmill Public Company Limited BSBM · BK
Price0.6700 THB
Fair Value1.07 THB
Upside+60.0%
Quality69/100
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Strengths

Trades 38% below our fair value of 1.07 THB
Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −30.6 %/yr)
!Loss-making · -17.7% net margin
!Mixed vs. peers (5/11)
!Narrow moat 13/100
Weak Growth (revenue 5y −30.6 %/yr)
Loss-making · -17.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/11)
Narrow moat 13/100
Evidence: Low Range 0.9648 THB – 1.17 THB Share as image

Fair value as of: Aug 27, 2026

From 7 valuation models · updated today

Fair value updated Aug 27, 2026, revised from 1.00 THB to 1.07 THB (+7.2%) since Aug 13, 2026. Share price −2.9% over the past month.

A solid business, trading 38% below our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The price is below even our cautious bear case (0.9648 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 (69/100) 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)

2.02 THB 0.5500 THB Fair Value 1.07 THB Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range 0.5500 THB – 2.02 THB · fair‑value band 0.9648 THB – 1.17 THB · the 0.6700 THB price screens below the 1.07 THB fair value. Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Bangsaphan Barmill Public Company Limited (BSBM) currently trades at 0.6700 THB, while our model-based Fair Value estimate is 1.07 THB, implying the stock looks roughly 60.0% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Basic Materials 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: low), always confirm before acting.

Over the trailing twelve months, Bangsaphan Barmill Public Company Limited generated revenue of 366M THB at a net margin of -15.3%. Revenue grew 108.0% year over year. It earns a return on equity of -3.4%. The balance sheet holds a net cash position of 745M THB. Fundamentals as of Aug 27, 2026

Our scenario range runs from 0.9648 THB (bear case) to 1.17 THB (bull case); at 0.6700 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 about 18% below its 52-week high and 24% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -22% fair-value upside, at 60%, BSBM 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 0.8900 THB 1.04 THB 1.27 THB 80
Rev-Margin DCF 0.7000 THB 0.8200 THB 0.9600 THB 74
NCAV (Graham) 0.7200 THB 0.9600 THB 1.43 THB 50
All 7 models by family
DCF Models
FCF DCF 0.8700 THB 1.03 THB 1.29 THB 38
5Y Revenue Exit 0.7000 THB 0.8000 THB 0.9500 THB 39
10Y Revenue Exit 0.7700 THB 0.8500 THB 0.9300 THB 36
Multiples
EV/Revenue 0.5900 THB 0.6800 THB 0.7800 THB 43
Asset-Based
NCAV (Graham) 0.7200 THB 0.9600 THB 1.43 THB 50
Growth DCF
Growth DCF 0.8900 THB 1.04 THB 1.27 THB 80
Rev-Margin DCF 0.7000 THB 0.8200 THB 0.9600 THB 74

Widest divergence: Asset-Based (0.9600 THB) versus Multiples (0.6800 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/S ratio 1.81 TTM
Net margin -15.3% TTM
Return on equity -3.4% TTM
Return on assets -1.6% TTM
Operating margin 0.9% TTM
EPS (TTM) -0.0500 THB
More key figures
Growth
Revenue (TTM) 366M THB TTM
Revenue growth (YoY) +108% 3y avg -38.8%
EPS growth (YoY) -32.6%
Balance sheet & cash flow
Free cash flow 71.7M THB FY2025
Net cash 745M THB FY2025

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 71 · Market factors (momentum, volatility) 57

Profitability 1
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 82
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Bangsaphan Barmill Public Company Limited engages in the manufacturing and distribution of deformed and round steel bars in Thailand. The company was incorporated in 1994 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bangsaphan Barmill Public Company Limited reported revenue of 247M THB in FY2025 versus 1.4B THB in FY2021, a compound −35.0%/yr. Reported net income was −69.8M THB in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
247M THB
Latest YoY
−36.2%
Avg. revenue 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.
−38.8%
Avg. revenue 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.
−30.6%
Avg. revenue 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.
−12.1%
Value creation/yr 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
Revenue −35.0%/yr
FY21 1.4B THB
FY22 1.1B THB
FY23 603M THB
FY24 388M THB
FY25 247M THB
Net income
FY21 72.1M THB
FY22 1.3M THB
FY23 −48.2M THB
FY24 −146M THB
FY25 −69.8M THB

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Cite: Fair Value Calculator (2026). "Bangsaphan Barmill Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/BSBM

Peer Group

Steel · 403 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 69 · Top 25%
Fair Value upside +60% · Top 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) -18% · Bottom 25%
Operating margin (TTM) -15% · Bottom 25%
Revenue growth -11% · Below median
Debt / equity 0.22× · Higher than median

Valuation Multiples vs Steel median · lower = cheaper

P/S (TTM) 0.07× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper than median
PEG 0.43× · Cheaper than 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 12
FUTURE0 · sector 4
PAST0 · sector 16
HEALTH89 · sector 95
DIVIDEND0 · sector 47

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

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Nucor Corporation NUE $247.55 $116.05 -53%
ArcelorMittal S.A MT €64.56 €45.76 -29%
JSW Steel Limited JSWSTEEL ₹1,296 ₹1,119 -14%
Steel Dynamics, Inc STLD $228.68 $127.14 -44%
500228 500228 ₹1,292 ₹1,079 -16%
Tata Steel Limited TATASTEEL ₹186.20 ₹145.39 -22%
Reliance, Inc RS $427.11 $217.81 -49%
Baoshan Iron & Steel Co 600019 ¥5.91 ¥8.07 +37%
POSCO Holdings PKX $57.09 $83.53 +46%
Jindal Steel & Power Limited JINDALSTEL ₹1,114 ₹429.44 -61%

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Frequently asked questions

Is Bangsaphan Barmill Public Company Limited (BSBM) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of 1.07 THB versus a price of 0.6700 THB, about +60% (undervalued).
What is the fair value of BSBM?
Our model-based fair value for Bangsaphan Barmill Public Company Limited is 1.07 THB (as of Aug 27, 2026), built from audited fundamentals. The current price: 0.6700 THB.
What is the quality score of BSBM?
Bangsaphan Barmill Public Company Limited has a Quality Score of 69/100. 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 Bangsaphan Barmill Public Company Limited (BSBM)?
Bangsaphan Barmill Public Company Limited reported trailing-twelve-month revenue of about 366M THB (latest available figure, as of Aug 27, 2026).
What is the net profit margin of BSBM?
The net profit margin of Bangsaphan Barmill Public Company Limited is about -15.3%, meaning it is currently running at a net loss. 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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