POSCO-Thainox Public Company (INOX) Fair Value & Analysis
Basic Materials · TH · Market cap 3.2B THB
Fair value as of: Jul 16, 2026
From 9 valuation models · updated 25 days ago
Fair value updated Jul 16, 2026, revised from 4.87 THB to 6.62 THB (+36.0%) since Jun 25, 2026. Share price +1.5% over the past month.
A solid business, screening 58% undervalued on our models.
What matters now
- The price is below even our cautious bear case (6.00 THB). The market is more pessimistic than our downside scenario.
- Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
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 3.50 THB – 14.27 THB · fair‑value band 6.00 THB – 7.26 THB · the 4.18 THB price screens below the 6.62 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.
Analysis
POSCO-Thainox Public Company (INOX) currently trades at 4.18 THB, while our model-based Fair Value estimate is 6.62 THB, implying the stock looks roughly 58.5% undervalued today. The Quality Score stands at 58/100 (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: medium), always confirm before acting.
Over the trailing twelve months, POSCO-Thainox Public Company generated revenue of 13.2B THB at a net margin of 1.2%. Revenue declined 0.4% year over year. It earns a return on equity of 1.7%. The balance sheet holds a net cash position of 2.3B THB. Fundamentals as of Jul 16, 2026
Our scenario range runs from 6.00 THB (bear case) to 7.26 THB (bull case); at 4.18 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 21% below its 52-week high and 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -7% fair-value upside, at 58%, INOX 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.
All 9 models by family
Widest divergence: Asset-Based (7.77 THB) versus Dividend Discount (2.43 THB). Highest evidence: ROIC Compounder (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 45
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
POSCO-Thainox Public Company Limited engages in the production and sale of cold-rolled stainless-steel products in Thailand, South Korea, the United States, Germany, Vietnam, Turkey, India, Hong Kong, and internationally.
Full company description
POSCO-Thainox Public Company Limited engages in the production and sale of cold-rolled stainless-steel products in Thailand, South Korea, the United States, Germany, Vietnam, Turkey, India, Hong Kong, and internationally. The company offers austenitic and ferritic stainless-steel products used in seat belts, spring coils, water tanks, construction work, transportation, pipes, pit containers, food manufacturing industry, boilers, heat exchangers, chemical industry, and large and hot water tanks, as well as in household appliances, such as kitchenette, sinks, and washing machines. The company was formerly known as Thainox Stainless Public Company Limited and changed its name to POSCO-Thainox Public Company Limited in 2011. POSCO-Thainox Public Company Limited was incorporated in 1990 and is headquartered in Bangkok, Thailand. POSCO-Thainox Public Company Limited is a subsidiary of POSCO Holdings Inc.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
POSCO-Thainox Public Company reported revenue of 13.3B THB in FY2025 versus 19.1B THB in FY2021, a compound −8.8%/yr. Reported net income was −62.0M THB in FY2025.
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Peer Group
Steel · 378 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.
Valuation Multiples vs Steel median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Steel stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Tata Steel Limited TTST | $0.2010 | $0.2000 | -0% |
| JSW Steel Limited JSWSTEEL | ₹1,227 | ₹1,140 | -7% |
| Baoshan Iron & Steel Co 600019 | ¥5.89 | ¥8.07 | +37% |
| China Steel Corporation 2002A | 38.55 TWD | 8.74 TWD | -77% |
| POSCO Holdings 005490 | 313,500 KRW | 155,270 KRW | -50% |
| Companhia Siderúrgica Nacional, SID | 13,670 ARS | 15,940 ARS | +17% |
| Jindal Steel Limited JINDALSTEL | ₹1,028 | ₹545.12 | -47% |
| Lloyds Metals and Energy Limited LLOYDSME | ₹1,844 | ₹1,098 | -40% |
| Gerdau S.A GGBN | 83.50 MXN | 42.64 MXN | -49% |
| Ternium S.A TXR | 17,780 ARS | 27,210 ARS | +53% |
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Frequently asked questions
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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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