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Pylon Public Company (PYLON) Fair Value & Analysis

Industrials · TH · Market cap 2.7B THB

PP Pylon Public Company PYLON · BK
Price3.64 THB
Fair Value5.57 THB
Upside+53.0%
Quality83/100
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Weak Growth
Solidly profitable · 16.1% net margin
Low debt · generates free cash flow
6.74% dividend yield
Ranks above peers (12/14)
Wide moat 74/100
Evidence: High Range 4.20 THB – 6.93 THB Share as image

Fair value as of: Jul 13, 2026

From 26 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from 5.71 THB to 5.57 THB (−2.5%) since Jun 24, 2026. Share price +1.7% over the past month.

A strong business, screening 53% undervalued on our models.

What matters now

  • The rarer combination: high quality (83/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (4.20 THB). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

4.59 THB 1.55 THB Fair Value 5.57 THB Feb 2021 Aug 2026

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

How to read this chart

60‑month range 1.55 THB – 4.59 THB · fair‑value band 4.20 THB – 6.93 THB · the 3.64 THB price screens below the 5.57 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Pylon Public Company (PYLON) currently trades at 3.64 THB, while our model-based Fair Value estimate is 5.57 THB, implying the stock looks roughly 53.0% undervalued today. The Quality Score stands at 83/100 (high 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, Pylon Public Company generated revenue of 1.7B THB at a net margin of 16.1%. Revenue grew 63.5% year over year. It earns a return on equity of 25.0%. The balance sheet holds a net cash position of 81.3M THB. Fundamentals as of Jul 13, 2026

Our scenario range runs from 4.20 THB (bear case) to 6.93 THB (bull case); at 3.64 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 near its 52-week high and 113% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 53%, PYLON 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 4.27 THB 6.69 THB 10.40 THB 80
Residual Income 1.80 THB 2.46 THB 10.06 THB 76
Rev-Margin DCF 3.25 THB 5.00 THB 7.14 THB 74
All 26 models by family
DCF Models
FCF DCF 4.26 THB 6.82 THB 10.82 THB 38
Owner Earnings 3.97 THB 6.33 THB 10.04 THB 31
5Y Revenue Exit 3.25 THB 4.99 THB 7.24 THB 39
5Y EBITDA Exit 4.09 THB 6.63 THB 9.69 THB 41
5Y P/E Exit 4.28 THB 7.02 THB 10.01 THB 38
10Y Revenue Exit 3.50 THB 5.20 THB 7.59 THB 36
10Y EBITDA Exit 4.11 THB 6.35 THB 9.50 THB 37
10Y P/E Exit 4.23 THB 6.62 THB 9.75 THB 35
Earnings-Based
Graham-Dodd 1.91 THB 7.44 THB 10.09 THB 54
Lynch FV 1.83 THB 2.61 THB 3.39 THB 50
PEG = 1.0 1.83 THB 2.61 THB 3.39 THB 46
EPV 2.68 THB 3.06 THB 3.39 THB 59
Dividend Discount
Gordon GGM 0.3500 THB 0.7000 THB 1.06 THB 70
DDM Multi-Stage 0.3500 THB 0.6000 THB 0.7400 THB 61
Multiples
P/E Multiple 4.43 THB 5.90 THB 7.38 THB 63
P/S Multiple 2.98 THB 3.97 THB 4.96 THB 58
P/B Multiple 3.58 THB 4.78 THB 5.97 THB 55
EV/EBIT 4.50 THB 5.90 THB 7.30 THB 53
EV/EBITDA 4.39 THB 5.75 THB 7.12 THB 54
EV/Revenue 2.79 THB 3.87 THB 4.94 THB 43
Asset-Based
NCAV (Graham) 0.7500 THB 1.00 THB 1.50 THB 50
Growth DCF
Growth DCF 4.27 THB 6.69 THB 10.40 THB 80
Rev-Margin DCF 3.25 THB 5.00 THB 7.14 THB 74
Economic Profit
Residual Income 1.80 THB 2.46 THB 10.06 THB 76
ROIC Compounder 2.93 THB 3.69 THB 4.63 THB 72
Growth Earnings
Growth-Adj P/E 3.27 THB 4.68 THB 6.08 THB 68

Widest divergence: DCF Models (6.35 THB) versus Dividend Discount (0.6000 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.7B THB
Revenue growth (YoY) +63.5%
Net margin 16.1%
Return on equity 25.0%
Free cash flow 259M THB FY2025
P/E ratio 9.9
More key figures
Operating margin 19.1%
EPS (TTM) 0.3600 THB
Dividend yield 6.7%
EPS growth (YoY) +325%
Net cash 81.3M THB FY2025

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

Quality Score breakdown

Overall quality 83/100

Of which business quality 81 · Market factors (momentum, volatility) 92

Profitability 64
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 94
Price trend over the last 3–12 months (market factor)
52W Momentum 100
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

Pylon Public Company Limited, together with its subsidiary, Excelon Co., Ltd., provides construction services in Thailand. The company offers foundation services, including circular bored piles, ground improvement, and diaphragm walls/barrette pile. Pylon Public Company Limited company was incorporated in 2002 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Pylon Public Company reported revenue of 1.5B THB in FY2025 versus 786M THB in FY2021, a compound +17.3%/yr. Reported net income was 211M THB in FY2025, compounding +51.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.5B THB
Latest YoY
+83.0%
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.
+9.1%
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.
+1.0%
Avg. growth/yr (21Y) 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.
+9.6%
Revenue +17.3%/yr
FY21 786M THB
FY22 1.1B THB
FY23 1.5B THB
FY24 814M THB
FY25 1.5B THB
Net income +51.7%/yr
FY21 39.8M THB
FY22 120M THB
FY23 106M THB
FY24 501K THB
FY25 211M THB
Character of growth · EPS growth decomposed (2014-2025) −2.9 % p.a.
Revenue per share +1.3 pp

of which total revenue +2.2 pp · buybacks/dilution −0.9 pp

EBIT margin −4.4 pp
Tax rate +0.0 pp
Residual (interest, one-offs) +0.2 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). "Pylon Public Company Fair Value". https://www.fairvalue-calculator.com/stock/PYLON

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 83 · Top 25%
Fair Value upside +53% · Top 25%
Return on equity (TTM) 25% · Top 25%
Return on assets 14% · Top 25%
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth 64% · Top 25%
Dividend yield (TTM) 6.7% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 9.9× · Cheaper than 75% of peers
P/B 2.39× · Pricier than median
P/S (TTM) 1.60× · Pricier than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 6.4× · Cheaper than median

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 16
FUTURE 100 · sector 17
PAST 100 · sector 26
HEALTH 100 · sector 94
DIVIDEND 100 · sector 33

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.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Pylon Public Company (PYLON) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 5.57 THB versus a price of 3.64 THB, about +53% (undervalued).
What is the fair value of PYLON?
Our model-based fair value for Pylon Public Company is 5.57 THB (as of Jul 13, 2026), built from audited fundamentals. The current price is 3.64 THB.
What is the quality score of PYLON?
Pylon Public Company has a Quality Score of 83/100. 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 Pylon Public Company (PYLON)?
Pylon Public Company reported trailing-twelve-month revenue of about 1.7B THB (latest available figure, as of Jul 13, 2026).
What is the net profit margin of PYLON?
The net profit margin of Pylon Public Company is about 16.1%, meaning it keeps roughly 16.1% of revenue as net income. Based on the latest reported figures.
Does Pylon Public Company pay a dividend?
Pylon Public Company currently shows a dividend yield of about 7.45% relative to its recent price (as of Jul 13, 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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