SCG Decor PCL (SCGD) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of SCG Decor PCL THB 5.13, price THB 5.50, upside -6.8%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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SCG Decor Public Company Limited, through its subsidiaries, produces and distributes ceramic tiles, sanitary ware, and other related products and services in Thailand, Vietnam, and internationally. The company operates through two segments, Decor Surfaces Business and Bathroom Business.
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SCG Decor Public Company Limited, through its subsidiaries, produces and distributes ceramic tiles, sanitary ware, and other related products and services in Thailand, Vietnam, and internationally. The company operates through two segments, Decor Surfaces Business and Bathroom Business. It offers faucets and fittings, porcelain tiles, floor and wall tiles, tile adhesive, and grout products. The company also provides stone vinyl and plastic composite products, and vinyl tile products. It provides its products under the Italia Espana, COTTO, CAMPANA, SOSUCO, LT by COTTO, Prema, Prime, Premier, MARIWASA, Luxuria PORCLELAIN TILES, KIA, and Impresso CERAMICS brands. The company was formerly known as SCG Building Materials Company Limited and changed its name to SCG Decor Company Limited in February 2023. The company was incorporated in 2023 and is headquartered in Bangkok, Thailand. SCG Decor Public Company Limited is a subsidiary of The Siam Cement Public Company Limited.
Stock analysis
SCG Decor PCL (SCGD) currently trades at 5.50 THB, while our model-based Fair Value estimate is 5.13 THB, implying the stock looks roughly 7.2% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 12.15 THB per share, and 19 of the 22 models we run sit above the 5.50 THB price.
Bear case: the Earnings-Based group reads lowest at 4.69 THB, and 3 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: 3.89 THB (bear) to 6.41 THB (bull), the price of 5.50 THB sits inside 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 57/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
SCG Decor PCL reported revenue of 22.7B THB in FY2025 versus 31.0B THB in FY2021, a compound −7.5%/yr. Reported net income was 932M THB in FY2025, compounding +30.5%/yr from FY2021.
Key figures
Market cap 9.1B THB (≈ $271M) · P/E ratio 9.5 · P/S ratio 0.39 · EPS (TTM) 0.5800 THB · Dividend yield 6.2% · Net margin 4.1% · Return on equity 4.7% · Return on assets (EBIT) 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 29% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at −7%, SCGD screens cheaper than that median.
Fair Value models
Bear 3.89 THBFair Value 5.13 THBBull 6.41 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 12 months old). Earnings retained since then (0.2367 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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
What shareholders gained per year (last 5 years), in THB ⓘ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 5 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. Basis: EBIT basis. 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.
≈ +3.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.4%
Dividend (yield on the price)6.2%
Profit margin 2021 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.4% → 5%
⚠ Rate on operating basis: 2025 sits 64% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
−1.3%
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 −2.5% a year for the price.
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.Building Materials · 258 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−7% · Below median
Profitability
Return on equity (TTM)5% · Above median
Return on assets3% · Above median
Net margin (TTM)4% · Below median
Operating margin (TTM)7% · Above median
Growth and dividend
Revenue growth−7% · Below median
Dividend yield (TTM)6.2% · Top 25%
Balance sheet
Debt / equity0.17× · Above median
Valuation Multiplesvs Building Materials median · lower = cheaper
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Is SCG Decor PCL (SCGD) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 5.13 THB versus a price of 5.50 THB, about −7% upside (fairly valued).
What is the fair value of SCGD?
Our model-based fair value for SCG Decor PCL is 5.13 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 5.50 THB.
What is the quality score of SCGD?
SCG Decor PCL has a Quality Score of 57/100. 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 SCG Decor PCL (SCGD)?
Our model-based price target is the fair value of 5.13 THB (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 3.89 THB, optimistic scenario 6.41 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the SCG Decor PCL stock forecast for 2026?
Our models put fair value at 5.13 THB, about −7% upside versus a price of 5.50 THB (fairly valued). Cautious scenario 3.89 THB, optimistic scenario 6.41 THB. The calculation is refreshed regularly with new filings.
What is the revenue of SCG Decor PCL (SCGD)?
SCG Decor PCL reported trailing-twelve-month revenue of about 22.3B THB (latest available figure, as of Sep 24, 2026).
Does SCG Decor PCL pay a dividend?
SCG Decor PCL currently shows a dividend yield of about 6.18% relative to its recent price (as of Sep 24, 2026).
What growth is priced into SCG Decor PCL (SCGD)?
For today's price to be fair in a discounted-cash-flow model, SCG Decor PCL would have to grow free cash flow by -1.3 % per year for five years (discount rate 13.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew -7.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SCGD use?
Our models discount SCG Decor PCL at 13.7 %: a base by market capitalisation (micro), damped by beta 0.76, 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 SCG Decor PCL that is -1.3 % per year a year over ten years, using the same discount rate (13.7 %) and the same formula as our fair value.
How much growth has SCG Decor PCL (SCGD) delivered so far?
Over the past 4 years revenue at SCG Decor PCL grew -7.5 % a year. The price currently implies -1.3 % 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 SCG Decor PCL (SCGD) growing?
The median revenue growth in the sector is +0.0 % a year. That is the yardstick for the growth priced into SCG Decor PCL (-1.3 % 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 SCG Decor PCL (SCGD)?
The free-cash-flow yield on the price is 25.80 %: that much free cash flow SCG Decor PCL produces per unit of market value. When it exceeds the discount rate of our models (13.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SCG Decor PCL (SCGD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SCG Decor PCL it is 5.13 THB per share (as of Sep 24, 2026), against a price of 5.50 THB. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is SCG Decor PCL stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SCGD trades above its calculated fair value: price 5.50 THB, fair value 5.13 THB, a gap of about −7% (fairly valued). 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 SCGD?
No. The price is what the market pays today (5.50 THB); the fair value is what the company's own numbers justify (5.13 THB). For SCG Decor PCL the two are 0.3710 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is SCG Decor PCL worth?
The market values SCG Decor PCL at about 9.1B THB (market capitalisation, as of Sep 24, 2026). Per share that is 5.50 THB; our models calculate a fair value of 5.13 THB per share.
What do the bullish and bearish scenarios say about SCGD?
Our models span a range for SCG Decor PCL: cautious scenario 3.89 THB, base 5.13 THB, optimistic 6.41 THB per share (as of Sep 24, 2026, price 5.50 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SCGD?
SCG Decor PCL trades at a price-to-earnings ratio of 9.5 (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 5.13 THB is built from several models across several years. Other multiples: P/B 0.5, P/S 0.4, EV/EBITDA 2.6.
How solid is the balance sheet of SCG Decor PCL (SCGD)?
Balance-sheet figures for SCG Decor PCL (as of Sep 24, 2026): return on equity 4.7%, debt of 0.17 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is SCGD from its 52-week high?
SCG Decor PCL trades at 5.50 THB, about 4% below its 52-week high of 5.70 THB and 29% above the low of 4.25 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 5.13 THB is for.
Which stocks are comparable to SCG Decor PCL?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement Limited, 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 SCG Decor PCL stock attractive at the current price?
The data as of Sep 24, 2026: price 5.50 THB, calculated fair value 5.13 THB (−7%), Quality Score 57/100, from 22 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 SCGD calculated?
We run SCG Decor PCL through 22 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 5.13 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 14.0 % above its aggregate fair value. SCG Decor PCL itself currently trades above fair value. 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 SCG Decor PCL (SCGD)?
The closing price on Sep 24, 2026 was 5.50 THB. Our model-based fair value is 5.13 THB, about −7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SCG Decor PCL right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of SCG Decor PCL
How large is the market capitalisation of SCG Decor PCL (SCGD)?
The market capitalisation of SCG Decor PCL is 9.1B THB (≈ $271M). 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 SCG Decor PCL (SCGD)?
The price-to-sales ratio of SCG Decor PCL is 0.39 (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 SCG Decor PCL (SCGD)?
Earnings per share at SCG Decor PCL are 0.5800 THB (price ÷ EPS = P/E 9.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SCG Decor PCL (SCGD)?
The dividend yield of SCG Decor PCL is 6.2% (payout 58.6%). 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 SCG Decor PCL (SCGD)?
The net margin of SCG Decor PCL is 4.1% (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 SCG Decor PCL (SCGD)?
The return on equity (ROE) of SCG Decor PCL is 4.7% (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 SCG Decor PCL (SCGD)?
On an EBIT basis the return on assets of SCG Decor PCL is 2.8% (avg 5y). 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 SCG Decor PCL (SCGD)?
The operating margin of SCG Decor PCL is 7.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SCG Decor PCL (SCGD)?
Revenue at SCG Decor PCL is growing −6.8% versus a year earlier (3y avg −13.7%). 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 SCG Decor PCL (SCGD)?
Earnings per share at SCG Decor PCL are growing +15.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does SCG Decor PCL (SCGD) carry?
The net debt of SCG Decor PCL is 8.2B THB (fiscal year 2025, ≈ 3.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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