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Hydrotek Public Company Limited (HYDRO) Fair Value & Analysis

Industrials · TH · Market cap 209M THB (≈ $6.3M) · ISIN TH1080010008

HP Hydrotek Public Company Limited HYDRO · BK
Price0.0500 THB
Fair Value0.0584 THB
Upside+16.8%
Quality53/100
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Strengths

Trades 14% below our fair value of 0.0584 THB
Ranks above peers (10/12)

Risks

!Expensive Growth (revenue 5y +26.1 %/yr)
!Thin margins · 6.4% net margin
!Low debt · negative free cash flow
!Moderate moat 46/100
Expensive Growth (revenue 5y +26.1 %/yr)
Thin margins · 6.4% net margin
Low debt · negative free cash flow
Ranks above peers (10/12)
Moderate moat 46/100
Evidence: Low Range 0.0489 THB – 0.0686 THB Share as image

Fair value as of: Aug 13, 2026

From 15 valuation models · updated 17 days ago

Fair value updated Aug 13, 2026, revised from 0.0701 THB to 0.0584 THB (−16.7%) since Jul 17, 2026. Share price −16.7% over the past month.

A solid business, trading 14% below our fair value.

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

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What matters now

  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • Our model range runs from 0.0489 THB (bear) to 0.0686 THB (bull), base 0.0584 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 53/100 (solid quality) with low evidence: read the verdict with care.
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Price vs Fair Value (5 years)

2.83 THB 0.0400 THB Fair Value 0.0584 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 0.0400 THB – 2.83 THB · fair‑value band 0.0489 THB – 0.0686 THB · the 0.0500 THB price screens below the 0.0584 THB fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Hydrotek Public Company Limited (HYDRO) currently trades at 0.0500 THB, while our model-based Fair Value estimate is 0.0584 THB, implying the stock looks roughly 16.8% undervalued today. The Quality Score stands at 53/100 (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: low), always confirm before acting.

Over the trailing twelve months, Hydrotek Public Company Limited generated revenue of 539M THB at a net margin of 6.4%. Revenue grew 30.4% year over year. It earns a return on equity of 53.7%. Net debt stands at 257M THB. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.0489 THB (bear case) to 0.0686 THB (bull case); at 0.0500 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. For context, the median of 10 Industrials peers we cover trades at -46% fair-value upside, at 17%, HYDRO screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.01 THB per share, which is 22.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

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
Owner Earnings 0.4200 THB 0.7200 THB 1.18 THB 74
EPV 0.2700 THB 0.3000 THB 0.3200 THB 74
ROIC Compounder 0.2900 THB 0.3400 THB 0.4000 THB 72
All 15 models by family
DCF Models
Owner Earnings 0.4200 THB 0.7200 THB 1.18 THB 74
Earnings-Based
Graham-Dodd 0.2200 THB 1.20 THB 1.67 THB 63
Lynch FV 0.3300 THB 0.4800 THB 0.6200 THB 61
PEG = 1.0 0.3300 THB 0.4800 THB 0.6200 THB 57
EPV 0.2700 THB 0.3000 THB 0.3200 THB 74
Multiples
P/E Multiple 0.5100 THB 0.6800 THB 0.8500 THB 63
P/S Multiple 0.3000 THB 0.4000 THB 0.5000 THB 58
P/B Multiple 0.1800 THB 0.2400 THB 0.3000 THB 55
EV/EBIT 0.5300 THB 0.7000 THB 0.8800 THB 66
EV/EBITDA 0.5000 THB 0.6600 THB 0.8300 THB 67
EV/Revenue 0.2600 THB 0.3600 THB 0.4700 THB 54
Asset-Based
NCAV (Graham) 0.0300 THB 0.0400 THB 0.0500 THB 55
Economic Profit
Residual Income 0.2200 THB 0.3800 THB 6.84 THB 64
ROIC Compounder 0.2900 THB 0.3400 THB 0.4000 THB 72
Growth Earnings
Growth-Adj P/E 0.4900 THB 0.7000 THB 0.9100 THB 67

Widest divergence: DCF Models (0.7200 THB) versus Asset-Based (0.0400 THB). Highest evidence: Owner Earnings (74).

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Key figures & financial health

P/E ratio 7.0 as of Jun 9, 2026
P/S ratio 1.13 P/E × margin
EPS (TTM) 0.0200 THB price ÷ EPS = P/E 7.0
Net margin 16.2% FY2025
Return on equity 53.7% TTM
Return on assets (EBIT) -20.5% avg 5y
More key figures
Profitability
Operating margin -77.9% TTM
Growth
Revenue (TTM) 539M THB TTM
Revenue growth (YoY) +30.4% 3y avg +59.1%
Balance sheet & cash flow
Free cash flow −163M THB FY2025
Net debt 257M THB FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 50 · Market factors (momentum, volatility) 15

Profitability 65
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 22
Balance sheet, leverage, solvency risk
Investment 41
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 100
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

Hydrotek Public Company Limited, together with its subsidiaries, engages in the construction and management of water treatment and wastewater treatment system, waste management system, and selling of related supplies in Thailand.

Full company description

Hydrotek Public Company Limited, together with its subsidiaries, engages in the construction and management of water treatment and wastewater treatment system, waste management system, and selling of related supplies in Thailand. It offers engineering, procurement and construction, operation and maintenance, water operator of water treatment plant and wastewater treatment plant, and water operator solutions. The company also provides water treatment, desalination, solid waste treatment, and wastewater treatment plant solutions. Hydrotek Public Company Limited was incorporated in 1982 and is headquartered in Pathum Thani, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hydrotek Public Company Limited reported revenue of 525M THB in FY2025 versus 270M THB in FY2021, a compound +18.0%/yr. Reported net income was 84.9M THB in FY2025.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
525M THB
Latest YoY
+425.4%
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.
+59.1%
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.
+26.1%
Avg. revenue 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.
−1.9%
Value creation/yr We only publish this rate when it is defensible. Reason: no profitable base year
not computed
Revenue +18.0%/yr
FY21 270M THB
FY22 130M THB
FY23 74.2M THB
FY24 99.9M THB
FY25 525M THB
Net income
FY21 −20.0M THB
FY22 −80.7M THB
FY23 −71.7M THB
FY24 −218M THB
FY25 84.9M THB

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

Peer Group

Engineering & Construction · 839 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 53 · Above median
Fair Value upside +20% · Above median
Return on equity (TTM) 54% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) -78% · Bottom 25%
Revenue growth 30% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 7.0× · Cheaper than 75% of peers
P/B 1.52× · Pricier than median
P/S (TTM) 0.39× · Cheaper than median
EV/EBITDA 3.4× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE60 · sector 16
FUTURE100 · sector 13
PAST100 · sector 26
HEALTH100 · sector 94
DIVIDEND0 · sector 40

Insider activity: 40/100

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

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Ferrovial N.V FER €57.28 €19.17 -67%
HOCHTIEF Aktiengesellschaft HOT €426.40 €203.87 -52%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
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MasTec, Inc MTZ $248.73 $100.00 -60%
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Frequently asked questions

Is Hydrotek Public Company Limited (HYDRO) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.0584 THB versus a price of 0.0500 THB, about +17% (undervalued).
What is the fair value of HYDRO?
Our model-based fair value for Hydrotek Public Company Limited is 0.0584 THB (as of Aug 13, 2026), built from audited fundamentals. The current price: 0.0500 THB.
What is the quality score of HYDRO?
Hydrotek Public Company Limited has a Quality Score of 53/100. 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 Hydrotek Public Company Limited (HYDRO)?
Hydrotek Public Company Limited reported trailing-twelve-month revenue of about 539M THB (latest available figure, as of Aug 13, 2026).
What is the net profit margin of HYDRO?
The net profit margin of Hydrotek Public Company Limited is about 6.4%, meaning it keeps roughly 6.4% of revenue as net income. 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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