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Filter Vision Public Company (FVC) Fair Value & Analysis

Industrials · TH · Market cap 701M THB

FV Filter Vision Public Company FVC · BK
Price0.3200 THB
Fair Value0.2465 THB
Upside-23.0%
Quality21/100
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Expensive Growth
Loss-making · 0.0% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/9)
Narrow moat 27/100
Evidence: Medium Range 0.1785 THB – 0.3060 THB Share as image

Fair value as of: Jul 16, 2026

From 17 valuation models · updated 24 days ago

Below-average quality, and screening another 23% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.3060 THB). The favourable scenario is already priced in.
  • Weak quality (21/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

2.24 THB 0.2800 THB Fair Value 0.2465 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 0.2800 THB – 2.24 THB · fair‑value band 0.1785 THB – 0.3060 THB · the 0.3200 THB price screens above the 0.2465 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Filter Vision Public Company (FVC) currently trades at 0.3200 THB, while our model-based Fair Value estimate is 0.2465 THB, implying the stock looks roughly 23.0% overvalued today. The Quality Score stands at 21/100 (below-average quality), in the Industrials 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: medium).

Trailing-twelve-month revenue stands at 1.4B THB. Revenue grew 90.3% year over year. It earns a return on equity of 1.5%. Net debt stands at 503M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 0.1785 THB (bear case) to 0.3060 THB (bull case); at 0.3200 THB, the current price sits above 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 45% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -23%, FVC 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
Residual Income 0.4300 THB 0.3900 THB 0.2800 THB 76
ROIC Compounder 0.2500 THB 0.2900 THB 0.3200 THB 72
Gordon GGM 0.0100 THB 0.0200 THB 0.0300 THB 70
All 17 models by family
DCF Models
Owner Earnings 0.1200 THB 0.2100 THB 0.3500 THB 31
Earnings-Based
Graham-Dodd 0.0900 THB 0.4800 THB 0.6600 THB 54
Lynch FV 0.1300 THB 0.1900 THB 0.2400 THB 50
PEG = 1.0 0.1300 THB 0.1900 THB 0.2400 THB 46
EPV 0.2500 THB 0.2900 THB 0.3200 THB 59
Dividend Discount
Gordon GGM 0.0100 THB 0.0200 THB 0.0300 THB 70
DDM Multi-Stage 0.0100 THB 0.0200 THB 0.0200 THB 61
Multiples
P/E Multiple 0.2100 THB 0.2900 THB 0.3600 THB 63
P/S Multiple 0.1700 THB 0.2300 THB 0.2900 THB 58
P/B Multiple 0.1700 THB 0.2300 THB 0.2900 THB 55
EV/EBIT 0.5100 THB 0.6900 THB 0.8600 THB 53
EV/EBITDA 0.6800 THB 0.9000 THB 1.13 THB 54
EV/Revenue 0.3700 THB 0.5300 THB 0.6800 THB 43
Asset-Based
NCAV (Graham) 0.3200 THB 0.4300 THB 0.6500 THB 50
Economic Profit
Residual Income 0.4300 THB 0.3900 THB 0.2800 THB 76
ROIC Compounder 0.2500 THB 0.2900 THB 0.3200 THB 72
Growth Earnings
Growth-Adj P/E 0.2000 THB 0.2800 THB 0.3600 THB 68

Widest divergence: Asset-Based (0.4300 THB) versus Dividend Discount (0.0200 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.4B THB
Revenue growth (YoY) +90.3%
Net margin 0.0%
Return on equity 1.5%
Free cash flow −196M THB FY2025
Operating margin 3.4%
More key figures
EPS growth (YoY) -30.3%
Net debt 503M THB FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 21/100

Of which business quality 24 · Market factors (momentum, volatility) 26

Profitability 21
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 26
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 0
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

Filter Vision Public Company Limited engages in the design, assembly, installation, and distribution of pure water treatment systems in Thailand.

Full company description

Filter Vision Public Company Limited engages in the design, assembly, installation, and distribution of pure water treatment systems in Thailand. The company operates through four segments: Sales and Services of pure water treatment system to industrial and original equipment manufacturing of water system; Sales and services of pure water treatment system to commercial and residential; Sales and services of medical service; and Industrial estate development and integrated infrastructure & utility services. It offers water filtration systems, disinfection and sanitization, food and beverage equipment, and green technology. Further, it provides water treatment solutions, such as bacteria reduction, chlorine test and oder reduction, scale, reduction, iron and manganese reduction, turbidity reduction, mineral reduction, and water treatment solutions. The company serves commercial, residential, and industrial and original equipment manufacturers, and medical service sector. Filter Vision Public Company Limited was incorporated in 1995 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Filter Vision Public Company reported revenue of 1.2B THB in FY2025 versus 644M THB in FY2021, a compound +15.7%/yr. Reported net income was 29.9M THB in FY2025, compounding −5.8%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.2B THB
Latest YoY
+10.4%
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.
+14.5%
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.
+15.6%
Avg. growth/yr (14Y) 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.
+12.7%
Revenue +15.7%/yr
FY21 644M THB
FY22 768M THB
FY23 902M THB
FY24 1.0B THB
FY25 1.2B THB
Net income −5.8%/yr
FY21 38.0M THB
FY22 32.9M THB
FY23 90.5M THB
FY24 18.7M THB
FY25 29.9M THB
Character of growth · EPS growth decomposed (2014-2025) +6.4 % p.a.
Revenue per share +3.1 pp

of which total revenue +11.9 pp · buybacks/dilution −8.8 pp

EBIT margin +2.4 pp
Tax rate +1.2 pp
Residual (interest, one-offs) −0.3 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).

FVC screens 23% overvalued. Compare with Veralto Corporation →

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Cite: Fair Value Calculator (2026). "Filter Vision Public Company Fair Value". https://www.fairvalue-calculator.com/stock/FVC

Peer Group

Pollution & Treatment Controls · 91 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 21 · Bottom 25%
Fair Value upside −23% · Above median
Return on equity (TTM) 1% · Below median
Return on assets 3% · Above median
Net margin (TTM) -0% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 90% · Top 25%
Debt / equity 0.10× · Lower than median

Valuation Multiples vs Pollution & Treatment Controls median · lower = cheaper

P/S (TTM) 0.02× · 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 3 · sector 0
FUTURE 100 · sector 14
PAST 6 · sector 10
HEALTH 95 · sector 95
DIVIDEND 0 · sector 37

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 Pollution & Treatment Controls stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Veralto Corporation VLTO $94.21 $69.11 -27%
Zurn Elkay Water Solutions Corporation ZWS $47.63 $24.92 -48%
Canmax Technologies Co 300390 ¥57.02 ¥10.41 -82%
CECO Environmental Corp CECO $83.63 $15.19 -82%
Fujian Longking Co 600388 ¥17.58 ¥15.59 -11%
Munters Group MTRS kr 166.60 kr 16.90 -90%
China Conch Venture Holdings 0586 HK$8.83 HK$14.14 +60%
Mega Union Technology Inc 6944 1,005 TWD 539.58 TWD -46%
MayAir Technology (China) Co 688376 ¥96.57 ¥18.80 -81%
Shanghai Emperor of Cleaning Hi-Tech Co 603200 ¥38.97 ¥5.73 -85%

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Frequently asked questions

Is Filter Vision Public Company (FVC) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 0.2465 THB versus a price of 0.3200 THB, about −23% (overvalued).
What is the fair value of FVC?
Our model-based fair value for Filter Vision Public Company is 0.2465 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 0.3200 THB.
What is the quality score of FVC?
Filter Vision Public Company has a Quality Score of 21/100. 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 Filter Vision Public Company (FVC)?
Filter Vision Public Company reported trailing-twelve-month revenue of about 1.4B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of FVC?
The net profit margin of Filter Vision Public Company is about 0.0%, 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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