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Selic Corp (SELIC) Fair Value & Analysis

Basic Materials · TH · Market cap 1.8B THB

SC Selic Corp SELIC · BK
Price2.78 THB
Fair Value2.30 THB
Upside-17.4%
Quality65/100
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Mixed Growth
Thin margins · 8.3% net margin
Low debt · generates free cash flow
1.21% dividend yield
Ranks above peers (11/14)
Moderate moat 56/100
Evidence: Medium Range 1.72 THB – 2.87 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 3.99 THB to 2.30 THB (−42.4%) since Jun 24, 2026. Share price −1.4% over the past month.

A solid business, but screening 17% overvalued on our models.

What matters now

  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from 1.72 THB (bear) to 2.87 THB (bull), base 2.30 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 65/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

4.16 THB 1.24 THB Fair Value 2.30 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 1.24 THB – 4.16 THB · fair‑value band 1.72 THB – 2.87 THB · the 2.78 THB price screens above the 2.30 THB fair value. Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Selic Corp (SELIC) currently trades at 2.78 THB, while our model-based Fair Value estimate is 2.30 THB, implying the stock looks roughly 17.4% overvalued today. The Quality Score stands at 65/100 (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: medium).

Over the trailing twelve months, Selic Corp generated revenue of 2.0B THB at a net margin of 8.3%. Revenue declined 5.5% year over year. It earns a return on equity of 13.8%. Net debt stands at 512M THB. Fundamentals as of Jul 13, 2026

Our scenario range runs from 1.72 THB (bear case) to 2.87 THB (bull case); at 2.78 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 6% below its 52-week high and 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -17%, SELIC 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 4.95 THB 8.02 THB 12.49 THB 80
Residual Income 1.61 THB 1.84 THB 3.36 THB 76
Rev-Margin DCF 3.91 THB 6.48 THB 9.86 THB 74
All 26 models by family
DCF Models
FCF DCF 5.04 THB 8.58 THB 14.08 THB 38
Owner Earnings 3.02 THB 5.15 THB 8.46 THB 31
5Y Revenue Exit 3.91 THB 6.52 THB 10.01 THB 39
5Y EBITDA Exit 4.20 THB 7.14 THB 10.78 THB 41
5Y P/E Exit 3.53 THB 5.73 THB 8.21 THB 38
10Y Revenue Exit 4.18 THB 6.68 THB 10.44 THB 36
10Y EBITDA Exit 4.46 THB 7.10 THB 11.03 THB 37
10Y P/E Exit 4.05 THB 6.15 THB 9.05 THB 35
Earnings-Based
Graham-Dodd 1.57 THB 7.57 THB 10.43 THB 54
Lynch FV 2.02 THB 2.89 THB 3.76 THB 50
PEG = 1.0 2.02 THB 2.89 THB 3.76 THB 46
EPV 2.72 THB 3.09 THB 3.41 THB 59
Dividend Discount
Gordon GGM 0.2800 THB 0.5100 THB 0.7000 THB 70
DDM Multi-Stage 0.2800 THB 0.4700 THB 0.5400 THB 61
Multiples
P/E Multiple 2.94 THB 3.92 THB 4.90 THB 63
P/S Multiple 2.94 THB 3.92 THB 4.90 THB 58
P/B Multiple 2.94 THB 3.92 THB 4.90 THB 55
EV/EBIT 4.47 THB 5.97 THB 7.48 THB 53
EV/EBITDA 4.07 THB 5.44 THB 6.81 THB 54
EV/Revenue 3.31 THB 4.75 THB 6.19 THB 43
Asset-Based
NCAV (Graham) 0.9100 THB 1.22 THB 1.82 THB 50
Growth DCF
Growth DCF 4.95 THB 8.02 THB 12.49 THB 80
Rev-Margin DCF 3.91 THB 6.48 THB 9.86 THB 74
Economic Profit
Residual Income 1.61 THB 1.84 THB 3.36 THB 76
ROIC Compounder 3.00 THB 3.86 THB 4.94 THB 72
Growth Earnings
Growth-Adj P/E 2.83 THB 4.04 THB 5.26 THB 68

Widest divergence: DCF Models (6.52 THB) versus Dividend Discount (0.4700 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.0B THB
Revenue growth (YoY) -5.5%
Net margin 8.3%
Return on equity 13.8%
Free cash flow 302M THB FY2025
P/E ratio 11.4
More key figures
Operating margin 19.7%
EPS (TTM) 0.2600 THB
Dividend yield 1.2%
EPS growth (YoY) +60.0%
Net debt 512M THB FY2025

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 62 · Market factors (momentum, volatility) 59

Profitability 42
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 89
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

Selic Corp Public Company Limited, together with other subsidiaries, engages in the production and distribution of adhesives in Thailand. It operates through Adhesive for Industrial Use, Self-Adhesive Labels, and Healthcare Products segments. The company offers hot melt, water based, and solvent based adhesives.

Full company description

Selic Corp Public Company Limited, together with other subsidiaries, engages in the production and distribution of adhesives in Thailand. It operates through Adhesive for Industrial Use, Self-Adhesive Labels, and Healthcare Products segments. The company offers hot melt, water based, and solvent based adhesives. It also produces and distributes self-adhesive labels and healthcare products; and engages in the wholesale of industrial chemicals. The company serves various industries, such as packaging, footwear, furniture, automotive parts, textiles, print and publications, electronics, construction, electrical appliance, etc. It also offers its products in Asia, Australia, Africa, and the United States. Selic Corp Public Company Limited was founded in 1979 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Selic Corp reported revenue of 2.0B THB in FY2025 versus 1.5B THB in FY2021, a compound +8.8%/yr. Reported net income was 147M THB in FY2025, compounding +15.9%/yr from FY2021.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.0B THB
Latest YoY
−4.5%
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.
+8.0%
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.
+10.3%
Avg. growth/yr (13Y) 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.
+8.9%
Revenue +8.8%/yr
FY21 1.5B THB
FY22 1.6B THB
FY23 1.9B THB
FY24 2.1B THB
FY25 2.0B THB
Net income +15.9%/yr
FY21 81.5M THB
FY22 40.6M THB
FY23 80.1M THB
FY24 128M THB
FY25 147M THB
Character of growth · EPS growth decomposed (2014-2025) +9.6 % p.a.
Revenue per share +7.5 pp

of which total revenue +14.1 pp · buybacks/dilution −6.6 pp

EBIT margin +7.8 pp
Tax rate −1.4 pp
Residual (interest, one-offs) −4.3 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).

SELIC screens 17% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Selic Corp Fair Value". https://www.fairvalue-calculator.com/stock/SELIC

Peer Group

Specialty Chemicals · 673 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 65 · Top 25%
Fair Value upside −17% · Above median
Return on equity (TTM) 14% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 20% · Top 25%
Revenue growth -6% · Below median
Dividend yield (TTM) 1.2% · Below median
Debt / equity 0.31× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 10.8× · Cheaper than 75% of peers
P/B 1.55× · Cheaper than median
P/S (TTM) 0.89× · Cheaper than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 4.9× · Cheaper than 75% of peers

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 10 · sector 0
FUTURE 0 · sector 19
PAST 55 · sector 23
HEALTH 85 · sector 95
DIVIDEND 24 · sector 25

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

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Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Selic Corp (SELIC) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 2.30 THB versus a price of 2.78 THB, about −17% (overvalued).
What is the fair value of SELIC?
Our model-based fair value for Selic Corp is 2.30 THB (as of Jul 13, 2026), built from audited fundamentals. The current price is 2.78 THB.
What is the quality score of SELIC?
Selic Corp has a Quality Score of 65/100. 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 Selic Corp (SELIC)?
Selic Corp reported trailing-twelve-month revenue of about 2.0B THB (latest available figure, as of Jul 13, 2026).
What is the net profit margin of SELIC?
The net profit margin of Selic Corp is about 8.3%, meaning it keeps roughly 8.3% of revenue as net income. Based on the latest reported figures.
Does Selic Corp pay a dividend?
Selic Corp currently shows a dividend yield of about 1.18% 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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