Siam Steel International Public Company Limited (SIAM) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Siam Steel International Public Company Limited THB 2.55, price THB 0.91, upside +180.2%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 0.6100 THB – 2.56 THB · the 0.9100 THB price screens below the 2.55 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Siam Steel International Public Company Limited, together with its subsidiaries, engages in the manufacture and sale of steel office equipment, and furniture parts in Thailand. The company is involved in construction business.
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Siam Steel International Public Company Limited, together with its subsidiaries, engages in the manufacture and sale of steel office equipment, and furniture parts in Thailand. The company is involved in construction business. Its steel and wooden furniture products include cabinets, lockers, and combine furniture systems; desks and tables; chairs; partitions; safes; shelving systems; and furniture for stadiums comprising bleachers and folding stages. In addition, the company provides prefabricated building systems that consist of permanent buildings, which includes business hotels, convenience stores, showrooms, etc.; temporary buildings, such as mobile offices, mobile clinics, mobile toilets, etc.; and storage buildings, which consists of telecom shelters, warehouse units, soundproof rooms, etc. Further, it offers special products, such as flood protection panel and related products, bathroom pods, smart wall systems, earthquake and seismic retrofits, bulletproof security products, and steel structure solutions, as well as building materials, including doors, staircases, etc. Additionally, the company invests in solar energy plants and alternative energy; and manufactures and distributes solar equipment and fuel stick. Furthermore, it manufactures and distributes plastic laminate products, and motorcycle parts, as well as offers electrical appliances and supplies, such as wire, pipe, and downstream equipment. The company provides nursing facilities and offers movable instant office and restroom nstant facilities. It offers its products under the Lucky, Kingdom, Siamsteel, Okamura, Chitose, and Pilot brand names. The company was founded in 1953 and is headquartered in Phra Pradaeng, Thailand.
Stock analysis
Siam Steel International Public Company Limited (SIAM) currently trades at 0.9100 THB, while our model-based Fair Value estimate is 2.55 THB, implying the stock looks roughly 64.3% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 3.60 THB per share, and 11 of the 16 models we run sit above the 0.9100 THB price.
Bear case: the Earnings-Based group reads lowest at 0.3100 THB, and 5 of the 16 models stay below the price. Evidence for this calculation is low.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Siam Steel International Public Company Limited reported revenue of 1.4B THB in FY2025 versus 1.7B THB in FY2021, a compound −5.4%/yr. Reported net income was 22.1M THB in FY2025, compounding +114.4%/yr from FY2021.
Key figures
Market cap 540M THB (≈ $16.2M) · P/E ratio 18.2 · P/S ratio 0.29 · EPS (TTM) 0.0500 THB · Net margin 1.6% · Return on equity 1.5% · Return on assets (EBIT) −2.1% · Operating margin −2.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 49% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at 180%, SIAM screens cheaper than that median.
Fair Value models
Bear 2.55 THBFair Value 2.55 THBBull 2.55 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 9 months old). Earnings retained since then (0.0367 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−29.0%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−10.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.4%
Start year 2020 (pandemic). Over 10 years: −3.5% a year
Revenue growth 26 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.8%
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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. 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.
−15.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−15.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−16% vs −15%, steady
Profit margin 2020 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% → −7%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less 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).
−36.7%
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 −37.5% a year for the price.
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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.Furnishings, Fixtures & Appliances · 317 stocks
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Cite: Fair Value Calculator (2026). "Siam Steel International Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/SIAM
Frequently asked questions
Is Siam Steel International Public Company Limited (SIAM) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2.55 THB versus a price of 0.9100 THB, about +180% upside (undervalued).
What is the fair value of SIAM?
Our model-based fair value for Siam Steel International Public Company Limited is 2.55 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.9100 THB.
What is the quality score of SIAM?
Siam Steel International Public Company Limited has a Quality Score of 60/100. 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 Siam Steel International Public Company Limited (SIAM)?
Our model-based price target is the fair value of 2.55 THB (as of Sep 24, 2026) from 16 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Siam Steel International Public Company Limited stock forecast for 2026?
Our models put fair value at 2.55 THB, about +180% upside versus a price of 0.9100 THB (undervalued). The calculation is refreshed regularly with new filings.
What is the revenue of Siam Steel International Public Company Limited (SIAM)?
Siam Steel International Public Company Limited reported trailing-twelve-month revenue of about 1.4B THB (latest available figure, as of Sep 24, 2026).
What growth is priced into Siam Steel International Public Company Limited (SIAM)?
For today's price to be fair in a discounted-cash-flow model, Siam Steel International Public Company Limited would have to grow free cash flow by -36.7 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -4.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SIAM use?
Our models discount Siam Steel International Public Company Limited at 10.1 %: a base by market capitalisation (nano), damped by beta 0.15, 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 Siam Steel International Public Company Limited that is -36.7 % per year a year over ten years, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Siam Steel International Public Company Limited (SIAM) delivered so far?
Over the past 5 years revenue at Siam Steel International Public Company Limited grew -4.4 % a year. The price currently implies -36.7 % 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 Siam Steel International Public Company Limited (SIAM) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Siam Steel International Public Company Limited (-36.7 % 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 Siam Steel International Public Company Limited (SIAM)?
The free-cash-flow yield on the price is 23.18 %: that much free cash flow Siam Steel International Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Siam Steel International Public Company Limited (SIAM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Siam Steel International Public Company Limited it is 2.55 THB per share (as of Sep 24, 2026), against a price of 0.9100 THB. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Siam Steel International Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SIAM trades below its calculated fair value: price 0.9100 THB, fair value 2.55 THB, a gap of about +180% (undervalued). 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 SIAM?
No. The price is what the market pays today (0.9100 THB); the fair value is what the company's own numbers justify (2.55 THB). For Siam Steel International Public Company Limited the two are 1.64 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Siam Steel International Public Company Limited worth?
The market values Siam Steel International Public Company Limited at about 540M THB (market capitalisation, as of Sep 24, 2026). Per share that is 0.9100 THB; our models calculate a fair value of 2.55 THB per share.
What is the P/E ratio of SIAM?
Siam Steel International Public Company Limited trades at a price-to-earnings ratio of 18.2 (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 2.55 THB is built from several models across several years. Other multiples: P/B 0.2, P/S 0.4, EV/EBITDA 1.2.
How solid is the balance sheet of Siam Steel International Public Company Limited (SIAM)?
Balance-sheet figures for Siam Steel International Public Company Limited (as of Sep 24, 2026): return on equity 1.5%, debt of 0.00 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is SIAM from its 52-week high?
Siam Steel International Public Company Limited trades at 0.9100 THB, about 16% below its 52-week high of 1.08 THB and 49% above the low of 0.6100 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 2.55 THB is for.
Which stocks are comparable to Siam Steel International Public Company Limited?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, Haier Smart Home Co, King Slide Works Co, 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 Siam Steel International Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 0.9100 THB, calculated fair value 2.55 THB (+180%), Quality Score 60/100, from 16 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 SIAM calculated?
We run Siam Steel International Public Company Limited through 16 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 2.55 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 13.0 % above its aggregate fair value. Siam Steel International Public Company Limited currently trades 180 % below its own fair value, and the market average says nothing about that. 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 Siam Steel International Public Company Limited (SIAM)?
The closing price on Sep 24, 2026 was 0.9100 THB. Our model-based fair value is 2.55 THB, about +180% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Siam Steel International Public Company Limited right now?
The price is below even our cautious bear case (2.55 THB). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Siam Steel International Public Company Limited
How large is the market capitalisation of Siam Steel International Public Company Limited (SIAM)?
The market capitalisation of Siam Steel International Public Company Limited is 540M THB (≈ $16.2M). 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 Siam Steel International Public Company Limited (SIAM)?
The price-to-sales ratio of Siam Steel International Public Company Limited is 0.29 (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 Siam Steel International Public Company Limited (SIAM)?
Earnings per share at Siam Steel International Public Company Limited are 0.0500 THB (price ÷ EPS = P/E 18.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Siam Steel International Public Company Limited (SIAM)?
The net margin of Siam Steel International Public Company Limited is 1.6% (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 Siam Steel International Public Company Limited (SIAM)?
The return on equity (ROE) of Siam Steel International Public Company Limited is 1.5% (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 Siam Steel International Public Company Limited (SIAM)?
On an EBIT basis the return on assets of Siam Steel International Public Company Limited is −2.1% (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 Siam Steel International Public Company Limited (SIAM)?
The operating margin of Siam Steel International Public Company Limited is −2.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Siam Steel International Public Company Limited (SIAM)?
Revenue at Siam Steel International Public Company Limited is growing −1.5% versus a year earlier (3y avg −10.2%). 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 Siam Steel International Public Company Limited (SIAM)?
Earnings per share at Siam Steel International Public Company Limited are growing −13.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Siam Steel International Public Company Limited (SIAM) hold?
Siam Steel International Public Company Limited holds more cash than debt, 308M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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