PAP (PAP) Fair Value & Analysis

Basic Materials · Market cap 1.6B THB

P PAP PAP · BK

Price2.48 THB

Fair Value2.04 THB

Upside-17.7%

Quality69/100

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Evidence: High Range 1.55 THB – 2.56 THB

Fair value as of: Jun 24, 2026

From 24 valuation models · updated 8 days ago

Share price −5.6% over the past month.

Price vs Fair Value (12 months)

12‑month range 1.48 THB – 2.73 THB · fair‑value band 1.55 THB – 2.56 THB · the 2.48 THB price screens above the 2.04 THB fair value. As of Jun 24, 2026.

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Analysis

PAP (PAP) currently trades at 2.48 THB, while our model-based Fair Value estimate is 2.04 THB — implying the stock looks roughly 17.7% overvalued today. We read business quality at 69/100 (solid quality), in the Basic Materials 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: high).

Over the trailing twelve months, PAP generated revenue of 7.5B THB at a net margin of 2.1%. Revenue grew 10.3% year over year. It earns a return on equity of 8.0%. Net debt stands at 1.4B THB. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) 7.5B THB

Revenue growth (YoY) +10.3%

Net margin 2.1%

Return on equity 8.0%

Free cash flow 123M THB FY2025

P/E ratio 10.7

More key figures

Operating margin 6.5%

EPS (TTM) 0.2300 THB

Dividend yield 3.2%

EPS growth (YoY) +141%

Net debt 1.4B THB FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PAP reported revenue of 7.2B THB in FY2025 versus 9.6B THB in FY2021, a compound −6.9%/yr. Reported net income was 80.4M THB in FY2025, compounding −38.3%/yr from FY2021.

Revenue −6.9%/yr

FY21 9.6B THB

FY22 9.8B THB

FY23 8.6B THB

FY24 7.4B THB

FY25 7.2B THB

Net income −38.3%/yr

FY21 555M THB

FY22 −335M THB

FY23 −56.2M THB

FY24 −204M THB

FY25 80.4M THB

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Similar stocks

6 more Steel stocks, each showing price versus our Fair Value estimate (as of Jun 24, 2026).

Stock	Price	Fair Value	vs Fair Value
Tata Steel Limited TTST	$0.2110	$0.0100	-95%
Nucor Corporation NUE	$244.93	$116.05	-53%
ArcelorMittal S.A ARMT34	R$166.77	R$110.23	-34%
JSW Steel Limited JSWSTEEL	₹1,282	₹1,113	-13%
China Steel Corporation 2002A	38.30 TWD	12.80 TWD	-67%
Baoshan Iron & Steel Co 600019	¥5.74	¥6.34	+10%

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Frequently asked questions

Is PAP (PAP) undervalued?

As of Jun 24, 2026, our model estimates a fair value of 2.04 THB versus a price of 2.48 THB — about −18% (overvalued). Model-based estimate, not financial advice.

What is the fair value of PAP?

Our model-based fair value for PAP is 2.04 THB (as of Jun 24, 2026), built from audited fundamentals. The current price is 2.48 THB.

What is the quality score of PAP?

PAP has a Quality Score of 69/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of PAP (PAP)?

PAP reported trailing-twelve-month revenue of about 7.5B THB (latest available figure, as of Jun 24, 2026).

What is the net profit margin of PAP?

The net profit margin of PAP is about 2.1%, meaning it keeps roughly 2.1% of revenue as net income. Based on the latest reported figures.

Does PAP pay a dividend?

PAP currently shows a dividend yield of about 3.20% relative to its recent price (as of Jun 24, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.