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Samart Telcoms Public Company (SAMTEL) Fair Value & Analysis

Communication Services · TH · Market cap 1.9B THB

ST Samart Telcoms Public Company SAMTEL · BK
Price3.04 THB
Fair Value3.57 THB
Upside+17.4%
Quality59/100
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Weak Growth
Thin margins · 1.3% net margin
Low debt · generates free cash flow
3.80% dividend yield
Mixed vs. peers (8/15)
Narrow moat 29/100
Evidence: High Range 2.68 THB – 4.46 THB Share as image

Fair value as of: Jul 16, 2026

From 25 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 5.16 THB to 3.57 THB (−30.8%) since Jun 24, 2026. Share price −3.2% over the past month.

A solid business, screening 17% undervalued on our models.

What matters now

  • Our model range runs from 2.68 THB (bear) to 4.46 THB (bull), base 3.57 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 59/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

8.32 THB 2.33 THB Fair Value 3.57 THB Feb 2021 Aug 2026

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 2.33 THB – 8.32 THB · fair‑value band 2.68 THB – 4.46 THB · the 3.04 THB price screens below the 3.57 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Samart Telcoms Public Company (SAMTEL) currently trades at 3.04 THB, while our model-based Fair Value estimate is 3.57 THB, implying the stock looks roughly 17.4% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Communication Services 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, Samart Telcoms Public Company generated revenue of 5.4B THB at a net margin of 1.9%. Revenue grew 7.9% year over year. It earns a return on equity of 2.8%. The balance sheet holds a net cash position of 216M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 2.68 THB (bear case) to 4.46 THB (bull case); at 3.04 THB, the current price sits within 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 47% below its 52-week high, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at 17%, SAMTEL 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
Growth DCF 4.11 THB 5.04 THB 6.16 THB 80
Residual Income 4.01 THB 3.86 THB 3.03 THB 76
Rev-Margin DCF 4.32 THB 5.95 THB 7.74 THB 74
All 25 models by family
DCF Models
FCF DCF 4.07 THB 5.11 THB 6.43 THB 38
Owner Earnings 2.92 THB 3.52 THB 4.29 THB 31
5Y Revenue Exit 4.32 THB 5.93 THB 7.93 THB 39
5Y EBITDA Exit 8.73 THB 13.89 THB 19.79 THB 41
5Y P/E Exit 3.84 THB 5.06 THB 6.29 THB 38
10Y Revenue Exit 4.10 THB 5.44 THB 7.13 THB 36
10Y EBITDA Exit 6.72 THB 10.40 THB 15.14 THB 37
10Y P/E Exit 3.91 THB 4.90 THB 6.03 THB 35
Earnings-Based
Graham-Dodd 1.10 THB 2.87 THB 3.74 THB 54
PEG = 1.0 0.5400 THB 0.7800 THB 1.01 THB 46
EPV 3.99 THB 4.36 THB 4.66 THB 59
Dividend Discount
Gordon GGM 1.17 THB 2.04 THB 2.89 THB 70
DDM Multi-Stage 1.17 THB 1.69 THB 2.17 THB 61
Multiples
P/E Multiple 2.68 THB 3.57 THB 4.46 THB 63
P/S Multiple 2.07 THB 2.76 THB 3.45 THB 58
P/B Multiple 2.07 THB 2.76 THB 3.45 THB 55
EV/EBIT 5.77 THB 7.25 THB 8.73 THB 53
EV/EBITDA 13.47 THB 17.52 THB 21.56 THB 54
EV/Revenue 4.70 THB 6.14 THB 7.58 THB 43
Asset-Based
NCAV (Graham) 2.93 THB 3.93 THB 5.86 THB 50
Growth DCF
Growth DCF 4.11 THB 5.04 THB 6.16 THB 80
Rev-Margin DCF 4.32 THB 5.95 THB 7.74 THB 74
Economic Profit
Residual Income 4.01 THB 3.86 THB 3.03 THB 76
ROIC Compounder 3.99 THB 4.36 THB 4.66 THB 72
Growth Earnings
Growth-Adj P/E 2.08 THB 2.97 THB 3.86 THB 68

Widest divergence: DCF Models (5.11 THB) versus Dividend Discount (1.69 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 5.4B THB
Revenue growth (YoY) +7.9%
Net margin 1.9%
Return on equity 2.8%
Free cash flow 188M THB FY2025
P/E ratio 32.4
More key figures
Operating margin 2.6%
EPS (TTM) 0.1100 THB
Dividend yield 3.3%
EPS growth (YoY) -16.2%
Net cash 216M THB FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 58 · Market factors (momentum, volatility) 31

Profitability 29
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 1
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

Samart Telcoms Public Company Limited engages in the integrated telecommunications, communication network, and information technology businesses in Thailand. The company operates through three segments: Network Infrastructure Solutions, Enhanced Technology Solutions, and Business Application.

Full company description

Samart Telcoms Public Company Limited engages in the integrated telecommunications, communication network, and information technology businesses in Thailand. The company operates through three segments: Network Infrastructure Solutions, Enhanced Technology Solutions, and Business Application. The Network Infrastructure Solutions segment provides solutions for telecommunications and data communication networks comprising consultation, survey, design, installation and implementation, and system management services, as well as professional maintenance services for wired and wireless networks, including core networks, access networks, network equipment and end devices, and various communications services through high-speed networks and satellite communications. The Enhanced Technology Solutions segment offers solutions, such as consultation, engineering design and software development, installation, project management, management, and maintenance services for information technology systems consists of advanced systems customization. The Business Application segment provides advanced software application services for the corporate and public sector client operations. In addition, it is involved in the design and installation of communication network, and enterprise resource planning system and integrated ERP solution for government and public sectors; electronic payment system and data interchange services; production of software packages; software development services; internet and cloud services; learning management platform; cyber security services; communication equipment and computer distribution activities; repair and maintenance of systems; consultation, design, installation, and maintenance of IT systems; and development of soft application, including e-document and data management solution. The company was founded in 1986 and is based in Pathum Thani, Thailand. Samart Telcoms Public Company Limited is a subsidiary of Samart Corporation Public Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Samart Telcoms Public Company reported revenue of 5.4B THB in FY2025 versus 4.6B THB in FY2021, a compound +4.1%/yr. Reported net income was 100M THB in FY2025, compounding +13.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
5.4B THB
Latest YoY
+28.7%
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.
+2.9%
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.
−0.2%
Avg. growth/yr (25Y) 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.
+17.7%
Revenue +4.1%/yr
FY21 4.6B THB
FY22 4.9B THB
FY23 4.5B THB
FY24 4.2B THB
FY25 5.4B THB
Net income +13.0%/yr
FY21 61.4M THB
FY22 261M THB
FY23 71.7M THB
FY24 115M THB
FY25 100M THB
Character of growth · EPS growth decomposed (2014-2025) −15.4 % p.a.
Revenue per share −2.7 pp

of which total revenue −2.7 pp · buybacks/dilution +0.0 pp

EBIT margin −8.4 pp
Tax rate −1.9 pp
Residual (interest, one-offs) −2.3 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). "Samart Telcoms Public Company Fair Value". https://www.fairvalue-calculator.com/stock/SAMTEL

Peer Group

Telecom Services · 250 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 59 · Above median
Fair Value upside +17% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 2% · Bottom 25%
Revenue growth -10% · Bottom 25%
Dividend yield (TTM) 3.8% · Above median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 28.4× · Pricier than median
P/B 0.53× · Cheaper than 75% of peers
P/S (TTM) 0.37× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 1.9× · Cheaper than 75% of peers
PEG 1.59× · Pricier 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 57 · sector 29
FUTURE 0 · sector 15
PAST 8 · sector 28
HEALTH 99 · sector 88
DIVIDEND 76 · sector 73

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 Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥89.98 ¥109.88 +22%
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
Telefónica, S.A TEFN 75.67 MXN 111.01 MXN +47%

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Frequently asked questions

Is Samart Telcoms Public Company (SAMTEL) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 3.57 THB versus a price of 3.04 THB, about +17% (undervalued).
What is the fair value of SAMTEL?
Our model-based fair value for Samart Telcoms Public Company is 3.57 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 3.04 THB.
What is the quality score of SAMTEL?
Samart Telcoms Public Company has a Quality Score of 59/100. 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 Samart Telcoms Public Company (SAMTEL)?
Samart Telcoms Public Company reported trailing-twelve-month revenue of about 5.4B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of SAMTEL?
The net profit margin of Samart Telcoms Public Company is about 1.9%, meaning it keeps roughly 1.9% of revenue as net income. Based on the latest reported figures.
Does Samart Telcoms Public Company pay a dividend?
Samart Telcoms Public Company currently shows a dividend yield of about 3.33% relative to its recent price (as of Jul 16, 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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