IROYAL_INTERROYAL ENGINEERING (IROYAL) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of IROYAL_INTERROYAL ENGINEERING THB 10.03, price THB 4.00, upside +150.8%, quality 72 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Interroyal Engineering Public Company Limited provides integrated power, renewable energy, and business solutions.
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Interroyal Engineering Public Company Limited provides integrated power, renewable energy, and business solutions. The company's power plant solutions include soot blowers and heating elements for combustion systems and boilers; electrostatic precipitators, industrial fans, steel grinding balls, rubber liners, mist eliminators, slurry pumps, propeller stirrers, and dewatering systems for waste and exhaust management systems; and fill packs for use in cooling systems. It also provides industrial wastewater equipment, liquid handling equipment, and flow control equipment; and single phase and three phase UPS products, lead acid batteries, and electric generators. In addition, the company designs and installs tunnel and metro ventilation systems and solutions. Further, it offers solar pump systems; digital power infrastructure solutions; wired and wireless networks that allows for the management of the plant network through a single device; and maintenance services. Additionally, the company provides market intelligence and forecasting, portfolio optimization, and project finance services. The company serves various industries, including power plants, cement plants, petrochemical facilities, and oil refineries. The company was incorporated in 1992 and is based in Bangkok, Thailand.
Stock analysis
IROYAL_INTERROYAL ENGINEERING (IROYAL) currently trades at 4.00 THB, while our model-based Fair Value estimate is 10.03 THB, implying the stock looks roughly 60.1% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 26.95 THB per share, and 23 of the 24 models we run sit above the 4.00 THB price.
Bear case: the Asset-Based group reads lowest at 1.84 THB, and 1 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 4.86 THB (bear) to 14.80 THB (bull), the price of 4.00 THB sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 72/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
IROYAL_INTERROYAL ENGINEERING reported revenue of 474M THB in FY2025 versus 115M THB in FY2022, a compound +60.6%/yr. Reported net income was 135M THB in FY2025, compounding +84.9%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap 1.1B THB (≈ $33.5M) · P/E ratio 5.8 · P/S ratio 1.65 · EPS (TTM) 0.6900 THB · Dividend yield 10.8% · Net margin 28.5% · Return on equity 27.0% · Return on assets (EBIT) 25.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at 151%, IROYAL screens cheaper than that median.
Fair Value models
Bear 4.86 THBFair Value 10.03 THBBull 14.80 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.1909 THB per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.91/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+168.6%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+60.6%
’22
’23
’24
’25
What shareholders gained per year (last 3 years), in THB (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+86.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+75.3%
Dividend (yield on the price)10.8%
Profit margin 2022 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.31% → 36%
2025 sits 129% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +6.3% a year for the price.
Compare IROYAL_INTERROYAL ENGINEERING with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Specialty Industrial Machinery · 828 stocks
Beats the industry median on 13/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside+142% · Top 25%
Profitability
Return on equity (TTM)27% · Top 25%
Return on assets16% · Top 25%
Net margin (TTM)29% · Top 25%
Operating margin (TTM)37% · Top 25%
Growth and dividend
Revenue growth147% · Top 25%
Dividend yield (TTM)10.8% · Top 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "IROYAL_INTERROYAL ENGINEERING Fair Value". https://www.fairvalue-calculator.com/stock/IROYAL
Frequently asked questions
Is IROYAL_INTERROYAL ENGINEERING (IROYAL) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 10.03 THB versus a price of 4.00 THB, about +151% upside (undervalued).
What is the fair value of IROYAL?
Our model-based fair value for IROYAL_INTERROYAL ENGINEERING is 10.03 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 4.00 THB.
What is the quality score of IROYAL?
IROYAL_INTERROYAL ENGINEERING has a Quality Score of 72/100. 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 price target for IROYAL_INTERROYAL ENGINEERING (IROYAL)?
Our model-based price target is the fair value of 10.03 THB (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 4.86 THB, optimistic scenario 14.80 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the IROYAL_INTERROYAL ENGINEERING stock forecast for 2026?
Our models put fair value at 10.03 THB, about +151% upside versus a price of 4.00 THB (undervalued). Cautious scenario 4.86 THB, optimistic scenario 14.80 THB. The calculation is refreshed regularly with new filings.
What is the revenue of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
IROYAL_INTERROYAL ENGINEERING reported trailing-twelve-month revenue of about 549M THB (latest available figure, as of Sep 24, 2026).
Does IROYAL_INTERROYAL ENGINEERING pay a dividend?
IROYAL_INTERROYAL ENGINEERING currently shows a dividend yield of about 10.75% relative to its recent price (as of Sep 24, 2026).
What growth is priced into IROYAL_INTERROYAL ENGINEERING (IROYAL)?
For today's price to be fair in a discounted-cash-flow model, IROYAL_INTERROYAL ENGINEERING would have to grow free cash flow by +7.6 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +60.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of IROYAL use?
Our models discount IROYAL_INTERROYAL ENGINEERING at 11.6 %: a base by market capitalisation (nano), country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For IROYAL_INTERROYAL ENGINEERING that is +7.6 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has IROYAL_INTERROYAL ENGINEERING (IROYAL) delivered so far?
Over the past 3 years revenue at IROYAL_INTERROYAL ENGINEERING grew +60.6 % a year. The price currently implies +7.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of IROYAL_INTERROYAL ENGINEERING (IROYAL) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into IROYAL_INTERROYAL ENGINEERING (+7.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
The free-cash-flow yield on the price is 6.28 %: that much free cash flow IROYAL_INTERROYAL ENGINEERING produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IROYAL_INTERROYAL ENGINEERING it is 10.03 THB per share (as of Sep 24, 2026), against a price of 4.00 THB. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is IROYAL_INTERROYAL ENGINEERING stock overvalued or undervalued in 2026?
As of Sep 24, 2026, IROYAL trades below its calculated fair value: price 4.00 THB, fair value 10.03 THB, a gap of about +151% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IROYAL?
No. The price is what the market pays today (4.00 THB); the fair value is what the company's own numbers justify (10.03 THB). For IROYAL_INTERROYAL ENGINEERING the two are 6.03 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is IROYAL_INTERROYAL ENGINEERING worth?
The market values IROYAL_INTERROYAL ENGINEERING at about 1.1B THB (market capitalisation, as of Sep 24, 2026). Per share that is 4.00 THB; our models calculate a fair value of 10.03 THB per share.
What do the bullish and bearish scenarios say about IROYAL?
Our models span a range for IROYAL_INTERROYAL ENGINEERING: cautious scenario 4.86 THB, base 10.03 THB, optimistic 14.80 THB per share (as of Sep 24, 2026, price 4.00 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IROYAL?
IROYAL_INTERROYAL ENGINEERING trades at a price-to-earnings ratio of 5.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 10.03 THB is built from several models across several years. Other multiples: P/B 1.8, P/S 2.0, EV/EBITDA 5.2.
How solid is the balance sheet of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
Balance-sheet figures for IROYAL_INTERROYAL ENGINEERING (as of Sep 24, 2026): return on equity 27.0%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is IROYAL from its 52-week high?
IROYAL_INTERROYAL ENGINEERING trades at 4.00 THB, about 33% below its 52-week high of 5.96 THB and 13% above the low of 3.54 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 10.03 THB is for.
Which stocks are comparable to IROYAL_INTERROYAL ENGINEERING?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is IROYAL_INTERROYAL ENGINEERING stock attractive at the current price?
The data as of Sep 24, 2026: price 4.00 THB, calculated fair value 10.03 THB (+151%), Quality Score 72/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IROYAL calculated?
We run IROYAL_INTERROYAL ENGINEERING through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 10.03 THB, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. IROYAL_INTERROYAL ENGINEERING currently trades 151 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
The closing price on Sep 24, 2026 was 4.00 THB. Our model-based fair value is 10.03 THB, about +151% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IROYAL_INTERROYAL ENGINEERING right now?
The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (4.86 THB). The market is more pessimistic than our downside scenario. The model range is unusually wide (4.86 THB to 14.80 THB). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of IROYAL_INTERROYAL ENGINEERING
How large is the market capitalisation of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
The market capitalisation of IROYAL_INTERROYAL ENGINEERING is 1.1B THB (≈ $33.5M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
The price-to-sales ratio of IROYAL_INTERROYAL ENGINEERING is 1.65 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
Earnings per share at IROYAL_INTERROYAL ENGINEERING are 0.6900 THB (price ÷ EPS = P/E 5.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
The dividend yield of IROYAL_INTERROYAL ENGINEERING is 10.8% (payout 62.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
The net margin of IROYAL_INTERROYAL ENGINEERING is 28.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
The return on equity (ROE) of IROYAL_INTERROYAL ENGINEERING is 27.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
On an EBIT basis the return on assets of IROYAL_INTERROYAL ENGINEERING is 25.1% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of IROYAL_INTERROYAL ENGINEERING (IROYAL)?
The operating margin of IROYAL_INTERROYAL ENGINEERING is 36.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IROYAL_INTERROYAL ENGINEERING (IROYAL)?
Revenue at IROYAL_INTERROYAL ENGINEERING is growing +147% versus a year earlier (3y avg +60.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at IROYAL_INTERROYAL ENGINEERING (IROYAL)?
Earnings per share at IROYAL_INTERROYAL ENGINEERING are growing +240% versus a year earlier. How much earnings per share grew versus a year earlier.
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