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Getabec Public Company (GTB) Fair Value & Analysis

Industrials · TH · Market cap 662M THB

GP Getabec Public Company GTB · BK
Price0.7100 THB
Fair Value1.69 THB
Upside+138.0%
Quality67/100
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Weak Growth
Thin margins · 7.0% net margin
Low debt · generates free cash flow
8.70% dividend yield
Ranks above peers (12/14)
Narrow moat 41/100
Evidence: High Range 1.31 THB – 2.11 THB Share as image

Fair value as of: Jul 12, 2026

From 24 valuation models · updated 29 days ago

Share price +2.9% over the past month.

A solid business, screening 138% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (1.31 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (67/100) 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)

0.9369 THB 0.5152 THB Fair Value 1.69 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 0.5152 THB – 0.9369 THB · fair‑value band 1.31 THB – 2.11 THB · the 0.7100 THB price screens below the 1.69 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

Getabec Public Company (GTB) currently trades at 0.7100 THB, while our model-based Fair Value estimate is 1.69 THB, implying the stock looks roughly 138.0% undervalued today. The Quality Score stands at 67/100 (solid quality), in the Industrials 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.

Over the trailing twelve months, Getabec Public Company generated revenue of 992M THB at a net margin of 7.0%. Revenue declined 27.7% year over year. It earns a return on equity of 8.0%. The balance sheet holds a net cash position of 101M THB. Fundamentals as of Jul 12, 2026

Our scenario range runs from 1.31 THB (bear case) to 2.11 THB (bull case); at 0.7100 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 7% below its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 138%, GTB 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 1.44 THB 1.79 THB 2.34 THB 80
Residual Income 0.7300 THB 0.7900 THB 0.8800 THB 76
Rev-Margin DCF 1.18 THB 1.59 THB 2.10 THB 74
All 24 models by family
DCF Models
FCF DCF 1.40 THB 1.77 THB 2.39 THB 38
Owner Earnings 0.9900 THB 1.23 THB 1.65 THB 31
5Y Revenue Exit 1.18 THB 1.55 THB 2.11 THB 39
5Y EBITDA Exit 1.31 THB 1.79 THB 2.42 THB 41
5Y P/E Exit 1.34 THB 1.83 THB 2.42 THB 38
10Y Revenue Exit 1.25 THB 1.53 THB 1.83 THB 36
10Y EBITDA Exit 1.34 THB 1.66 THB 2.00 THB 37
10Y P/E Exit 1.36 THB 1.69 THB 2.00 THB 35
Earnings-Based
Graham-Dodd 0.5700 THB 0.7500 THB 0.8600 THB 54
EPV 0.7800 THB 0.8600 THB 0.9400 THB 59
Dividend Discount
Gordon GGM 0.3900 THB 0.4200 THB 0.4600 THB 70
DDM Multi-Stage 0.3900 THB 0.4700 THB 0.5700 THB 61
Multiples
P/E Multiple 1.31 THB 1.75 THB 2.19 THB 63
P/S Multiple 1.06 THB 1.42 THB 1.77 THB 58
P/B Multiple 1.06 THB 1.42 THB 1.77 THB 55
EV/EBIT 1.44 THB 1.87 THB 2.30 THB 53
EV/EBITDA 1.42 THB 1.84 THB 2.26 THB 54
EV/Revenue 1.08 THB 1.47 THB 1.86 THB 43
Asset-Based
NCAV (Graham) 0.4500 THB 0.6000 THB 0.9000 THB 50
Growth DCF
Growth DCF 1.44 THB 1.79 THB 2.34 THB 80
Rev-Margin DCF 1.18 THB 1.59 THB 2.10 THB 74
Economic Profit
Residual Income 0.7300 THB 0.7900 THB 0.8800 THB 76
ROIC Compounder 0.7800 THB 0.8600 THB 0.9500 THB 72
Growth Earnings
Growth-Adj P/E 0.9300 THB 1.32 THB 1.72 THB 68

Widest divergence: DCF Models (1.66 THB) versus Dividend Discount (0.4200 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 992M THB
Revenue growth (YoY) -27.7%
Net margin 7.0%
Return on equity 8.0%
Free cash flow 146M THB FY2025
P/E ratio 9.9
More key figures
Operating margin 4.9%
EPS (TTM) 0.0700 THB
Dividend yield 8.6%
EPS growth (YoY) -47.3%
Net cash 101M THB FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 70 · Market factors (momentum, volatility) 64

Profitability 49
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 57
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.

About the company

Getabec Public Company Limited, together with its subsidiaries, engages in the manufacture and distribution of steam and hot water boilers in Thailand and internationally.

Full company description

Getabec Public Company Limited, together with its subsidiaries, engages in the manufacture and distribution of steam and hot water boilers in Thailand and internationally. It offers fire and water tube boilers, heat recovery steam generators, hot water boilers, steam generators, thermal oil heaters, and biomass and electric boilers; online monitoring systems for boiler operation; and plant balancing solutions, such as pressure vessels and storage tanks, deaeration plants for water treatment, piping systems, and fuel gas emission control and instrument systems, as well as stacks, heat exchangers, and economizers. The company also provides services required for a boiler plant, engineering, installation, erection, upgrading, commissioning, and spare parts. It serves food, beverage, textile and fabric, automotive, pharmaceutical and chemical, packaging, hotel and hospital, and construction materials industries, as well as petrochemical and power plants. The company was formerly known as German-Thai Boiler Engineering Cooperation Company Limited and changed its name to Getabec Public Company Limited in September 2015. Getabec Public Company Limited was incorporated in 1983 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Getabec Public Company reported revenue of 1.1B THB in FY2025 versus 884M THB in FY2021, a compound +5.1%/yr. Reported net income was 80.0M THB in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.1B THB
Latest YoY
−6.2%
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.
−0.9%
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.
−0.7%
Avg. growth/yr (12Y) 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.
−0.4%
Revenue +5.1%/yr
FY21 884M THB
FY22 1.1B THB
FY23 1.1B THB
FY24 1.1B THB
FY25 1.1B THB
Net income
FY21 −58.8M THB
FY22 44.5M THB
FY23 60.4M THB
FY24 77.7M THB
FY25 80.0M THB
Character of growth · EPS growth decomposed (2014-2025) −3.0 % p.a.
Revenue per share −2.9 pp

of which total revenue +1.6 pp · buybacks/dilution −4.5 pp

EBIT margin +0.4 pp
Tax rate −0.6 pp
Residual (interest, one-offs) +0.0 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). "Getabec Public Company Fair Value". https://www.fairvalue-calculator.com/stock/GTB

Peer Group

Specialty Industrial Machinery · 808 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 67 · Top 25%
Fair Value upside +138% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 4% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 5% · Below median
Revenue growth -28% · Bottom 25%
Dividend yield (TTM) 8.7% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 9.9× · Cheaper than 75% of peers
P/B 0.77× · Cheaper than 75% of peers
P/S (TTM) 0.67× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 5.0× · 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 0
FUTURE 0 · sector 23
PAST 32 · sector 28
HEALTH 100 · sector 96
DIVIDEND 100 · sector 24

Insider activity: 30/100

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.

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Frequently asked questions

Is Getabec Public Company (GTB) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 1.69 THB versus a price of 0.7100 THB, about +138% (undervalued).
What is the fair value of GTB?
Our model-based fair value for Getabec Public Company is 1.69 THB (as of Jul 12, 2026), built from audited fundamentals. The current price is 0.7100 THB.
What is the quality score of GTB?
Getabec Public Company has a Quality Score of 67/100. 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 Getabec Public Company (GTB)?
Getabec Public Company reported trailing-twelve-month revenue of about 992M THB (latest available figure, as of Jul 12, 2026).
What is the net profit margin of GTB?
The net profit margin of Getabec Public Company is about 7.0%, meaning it keeps roughly 7.0% of revenue as net income. Based on the latest reported figures.
Does Getabec Public Company pay a dividend?
Getabec Public Company currently shows a dividend yield of about 8.57% relative to its recent price (as of Jul 12, 2026).

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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