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QTC Energy Public Company (QTC) Fair Value & Analysis

Industrials · TH · Market cap 1.5B THB

QE QTC Energy Public Company QTC · BK
Price5.10 THB
Fair Value1.44 THB
Upside-71.8%
Quality37/100
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Expensive Growth
Thin margins · 0.8% net margin
Low debt · negative free cash flow
4.41% dividend yield
Mixed vs. peers (6/13)
Narrow moat 21/100
Evidence: High Range 1.08 THB – 1.80 THB Share as image

Fair value as of: Jul 12, 2026

From 16 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from 1.78 THB to 1.44 THB (−19.1%) since Jun 24, 2026. Share price +12.8% over the past month.

Below-average quality, and screening another 72% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1.80 THB). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

5.73 THB 2.94 THB Fair Value 1.44 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 2.94 THB – 5.73 THB · fair‑value band 1.08 THB – 1.80 THB · the 5.10 THB price screens above the 1.44 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

QTC Energy Public Company (QTC) currently trades at 5.10 THB, while our model-based Fair Value estimate is 1.44 THB, implying the stock looks roughly 71.8% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Industrials 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, QTC Energy Public Company generated revenue of 1.8B THB at a net margin of 0.8%. Revenue grew 66.6% year over year. It earns a return on equity of 0.9%. The stock trades on a trailing P/E of 117.0. Fundamentals as of Jul 12, 2026

Our scenario range runs from 1.08 THB (bear case) to 1.80 THB (bull case); at 5.10 THB, the current price sits above 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 65% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -72%, QTC screens richer 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
Residual Income 3.04 THB 2.87 THB 2.09 THB 76
ROIC Compounder 1.39 THB 1.41 THB 1.43 THB 72
Gordon GGM 1.94 THB 3.49 THB 4.81 THB 70
All 16 models by family
Earnings-Based
Graham-Dodd 0.5800 THB 1.98 THB 2.65 THB 54
Lynch FV 0.4600 THB 0.6500 THB 0.8500 THB 50
PEG = 1.0 0.4600 THB 0.6500 THB 0.8500 THB 46
EPV 1.39 THB 1.41 THB 1.43 THB 59
Dividend Discount
Gordon GGM 1.94 THB 3.49 THB 4.81 THB 70
DDM Multi-Stage 1.94 THB 3.15 THB 3.73 THB 61
Multiples
P/E Multiple 1.33 THB 1.78 THB 2.22 THB 63
P/S Multiple 1.08 THB 1.44 THB 1.80 THB 58
P/B Multiple 1.08 THB 1.44 THB 1.80 THB 55
EV/EBIT 1.71 THB 1.87 THB 2.03 THB 53
EV/EBITDA 3.86 THB 4.73 THB 5.60 THB 54
EV/Revenue 1.58 THB 1.72 THB 1.87 THB 43
Asset-Based
NCAV (Graham) 2.29 THB 3.06 THB 4.57 THB 50
Economic Profit
Residual Income 3.04 THB 2.87 THB 2.09 THB 76
ROIC Compounder 1.39 THB 1.41 THB 1.43 THB 72
Growth Earnings
Growth-Adj P/E 1.14 THB 1.63 THB 2.12 THB 68

Widest divergence: Dividend Discount (3.15 THB) versus Earnings-Based (0.6500 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.8B THB
Revenue growth (YoY) +66.6%
Net margin 0.8%
Return on equity 0.9%
Free cash flow −372M THB FY2025
P/E ratio 113.0
More key figures
Operating margin -1.4%
EPS (TTM) 0.0400 THB
Dividend yield 4.4%
EPS growth (YoY) -54.7%
Net cash 63.7K THB FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 38 · Market factors (momentum, volatility) 91

Profitability 25
Margins and returns on capital today
Quality Growth 9
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 90
Price trend over the last 3–12 months (market factor)
52W Momentum 91
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

QTC Energy Public Company Limited, together with its subsidiaries, engages in the manufacture, sale, and distribution of electric transformers in Thailand and internationally.

Full company description

QTC Energy Public Company Limited, together with its subsidiaries, engages in the manufacture, sale, and distribution of electric transformers in Thailand and internationally. The company offers oil and dry type, and super low loss transformer products; EV chargers and accessories; and solar products, such as inverters, mono-facia, bi-facial, cables and connectors, and accessories. It also provides scheduled checks and maintenance, transformer repairs and maintenance, transformer oil fill, and transformer rental services; installation of electrical equipment and solar panels; sales and installation of electrical equipment, including PV panels, and solar inverters and cell equipment. In addition, the company is involved in the import and distribution of products and equipment relating to solar cells; and planning the installation, maintenance, inspection, and product and installation warranty. The company was formerly known as QTC Transformers Co., Ltd. and changed its name to QTC Energy Public Company Limited in August 2010. QTC Energy Public Company Limited was founded in 1996 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

QTC Energy Public Company reported revenue of 1.6B THB in FY2025 versus 1.2B THB in FY2021, a compound +7.8%/yr. Reported net income was 28.9M THB in FY2025, compounding −31.0%/yr from FY2021.

Growth Quality 47/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.6B THB
Latest YoY
+4.6%
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.
+9.2%
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.
+9.2%
Avg. growth/yr (15Y) 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.
+7.7%
Revenue +7.8%/yr
FY21 1.2B THB
FY22 1.2B THB
FY23 1.3B THB
FY24 1.5B THB
FY25 1.6B THB
Net income −31.0%/yr
FY21 127M THB
FY22 15.8M THB
FY23 66.9M THB
FY24 113M THB
FY25 28.9M THB
Character of growth · EPS growth decomposed (2014-2025) −7.7 % p.a.
Revenue per share −1.4 pp

of which total revenue +4.3 pp · buybacks/dilution −5.7 pp

EBIT margin −7.2 pp
Tax rate −0.1 pp
Residual (interest, one-offs) +1.0 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).

QTC screens 72% overvalued. Compare with Contemporary Amperex Technology Co →

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

Peer Group

Electrical Equipment & Parts · 526 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 37 · Bottom 25%
Fair Value upside −72% · Bottom 25%
Return on equity (TTM) 1% · Bottom 25%
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) -1% · Bottom 25%
Revenue growth 67% · Top 25%
Dividend yield (TTM) 4.4% · Top 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 113.0× · Pricier than 75% of peers
P/B 0.99× · Cheaper than median
P/S (TTM) 0.87× · Cheaper than median
EV/EBITDA 11.4× · 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 0 · sector 0
FUTURE 100 · sector 57
PAST 4 · sector 26
HEALTH 99 · sector 97
DIVIDEND 88 · sector 18

VALUE 0: the price sits above our fair-value range.

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is QTC Energy Public Company (QTC) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 1.44 THB versus a price of 5.10 THB, about −72% (overvalued).
What is the fair value of QTC?
Our model-based fair value for QTC Energy Public Company is 1.44 THB (as of Jul 12, 2026), built from audited fundamentals. The current price is 5.10 THB.
What is the quality score of QTC?
QTC Energy Public Company has a Quality Score of 37/100. 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 QTC Energy Public Company (QTC)?
QTC Energy Public Company reported trailing-twelve-month revenue of about 1.8B THB (latest available figure, as of Jul 12, 2026).
What is the net profit margin of QTC?
The net profit margin of QTC Energy Public Company is about 0.8%, meaning it keeps roughly 0.8% of revenue as net income. Based on the latest reported figures.
Does QTC Energy Public Company pay a dividend?
QTC Energy Public Company currently shows a dividend yield of about 4.29% relative to its recent price (as of Jul 12, 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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