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Singer Thailand Public Company (SINGER) Fair Value & Analysis

Financial Services · TH · Market cap 10.7B THB

ST Singer Thailand Public Company SINGER · BK
Price11.60 THB
Fair Value3.56 THB
Upside-69.3%
Quality67/100
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Mixed Growth
Thin margins · 6.7% net margin
Low debt · generates free cash flow
Trails peers (4/13)
Moderate moat 46/100
Evidence: Medium Range 3.16 THB – 3.92 THB Share as image

Fair value as of: Jul 17, 2026

From 22 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from 4.94 THB to 3.56 THB (−27.9%) since Jun 24, 2026. Share price −8.7% over the past month.

A solid business, but screening 69% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (3.92 THB). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

55.52 THB 3.98 THB Fair Value 3.56 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 3.98 THB – 55.52 THB · fair‑value band 3.16 THB – 3.92 THB · the 11.60 THB price screens above the 3.56 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Singer Thailand Public Company (SINGER) currently trades at 11.60 THB, while our model-based Fair Value estimate is 3.56 THB, implying the stock looks roughly 69.3% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Financial Services 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, Singer Thailand Public Company generated revenue of 3.7B THB at a net margin of 6.7%. Revenue grew 31.9% year over year. It earns a return on equity of 2.4%. The balance sheet holds a net cash position of 584M THB. Fundamentals as of Jul 17, 2026

Our scenario range runs from 3.16 THB (bear case) to 3.92 THB (bull case); at 11.60 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 196% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -41% fair-value upside, at -69%, SINGER 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 4.96 THB 6.32 THB 8.50 THB 80
Residual Income 11.05 THB 10.19 THB 7.32 THB 76
Rev-Margin DCF 4.18 THB 5.57 THB 7.22 THB 74
All 22 models by family
DCF Models
FCF DCF 4.82 THB 6.23 THB 8.65 THB 38
Owner Earnings 3.15 THB 3.93 THB 5.27 THB 31
5Y Revenue Exit 4.18 THB 5.51 THB 7.32 THB 39
5Y EBITDA Exit 4.69 THB 6.37 THB 8.47 THB 41
5Y P/E Exit 3.62 THB 4.54 THB 5.57 THB 38
10Y Revenue Exit 4.31 THB 5.52 THB 6.90 THB 36
10Y EBITDA Exit 4.71 THB 6.09 THB 7.68 THB 37
10Y P/E Exit 4.05 THB 4.87 THB 5.71 THB 35
Earnings-Based
Graham-Dodd 0.8800 THB 1.61 THB 1.99 THB 54
EPV 2.93 THB 3.24 THB 3.52 THB 59
Multiples
P/E Multiple 2.13 THB 2.84 THB 3.55 THB 63
P/S Multiple 1.64 THB 2.19 THB 2.74 THB 58
P/B Multiple 1.64 THB 2.19 THB 2.74 THB 55
EV/EBIT 5.44 THB 6.91 THB 8.37 THB 53
EV/EBITDA 5.15 THB 6.51 THB 7.88 THB 54
EV/Revenue 4.02 THB 5.28 THB 6.55 THB 43
Asset-Based
NCAV (Graham) 8.14 THB 10.91 THB 16.29 THB 50
Growth DCF
Growth DCF 4.96 THB 6.32 THB 8.50 THB 80
Rev-Margin DCF 4.18 THB 5.57 THB 7.22 THB 74
Economic Profit
Residual Income 11.05 THB 10.19 THB 7.32 THB 76
ROIC Compounder 2.93 THB 3.24 THB 3.52 THB 72
Growth Earnings
Growth-Adj P/E 1.51 THB 2.15 THB 2.80 THB 68

Widest divergence: Asset-Based (10.91 THB) versus Earnings-Based (1.61 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.7B THB
Revenue growth (YoY) +31.9%
Net margin 6.7%
Return on equity 2.4%
Free cash flow 300M THB FY2025
P/E ratio 42.3
More key figures
Operating margin 26.1%
EPS (TTM) 0.3100 THB
EPS growth (YoY) +610%
Net cash 584M THB FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 63 · Market factors (momentum, volatility) 84

Profitability 20
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 85
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

Singer Thailand Public Company Limited, together with its subsidiaries, distributes household electrical and commercial appliances in Thailand. The company operates through three segments: Trade Sales; Hire Purchase and Loans; and Service and Others.

Full company description

Singer Thailand Public Company Limited, together with its subsidiaries, distributes household electrical and commercial appliances in Thailand. The company operates through three segments: Trade Sales; Hire Purchase and Loans; and Service and Others. It offers household electrical appliances, such as sewing machines, kitchen appliances, vacuums cleaners and air purifiers, refrigerator, gas stove, washing machine, television, audio, fans, shower heaters, air conditioners, small appliances, and hair styling tools. The company also provides commercial appliances comprising beverage coolers, food freezer, wine cellar, automatic coffee machine, security camera, snowy, soft serve ice cream machine, drinking water vending machine, top-up vending machine, coin- operated washing machine, and other commercial products; water pumps; and mobile phones. In addition, the company engages in the life and non-life insurance brokerage business; trade sale and hire purchase of home appliances, electronic appliances, mobile phones, commercial products, and vehicles, as well as loan receivables with vehicle collateral and others. Further, it provides repair and maintenance services for electronic appliances. The company sells its products under the Singer brand name through a network of branch outlets and sales representatives. Singer Thailand Public Company Limited was founded in 1889 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Singer Thailand Public Company reported revenue of 3.4B THB in FY2025 versus 4.3B THB in FY2021, a compound −5.8%/yr. Reported net income was 105M THB in FY2025, compounding −37.8%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.4B THB
Latest YoY
+47.7%
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.
−12.6%
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.
−0.7%
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.
+0.2%
Revenue −5.8%/yr
FY21 4.3B THB
FY22 5.1B THB
FY23 2.9B THB
FY24 2.3B THB
FY25 3.4B THB
Net income −37.8%/yr
FY21 701M THB
FY22 935M THB
FY23 −3.2B THB
FY24 13.7M THB
FY25 105M THB
Character of growth · EPS growth decomposed (2014-2025) −18.3 % p.a.
Revenue per share −9.7 pp

of which total revenue −0.9 pp · buybacks/dilution −8.7 pp

EBIT margin +1.7 pp
Tax rate −5.6 pp
Residual (interest, one-offs) −4.7 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).

SINGER screens 69% overvalued. Compare with Visa Inc →

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

Peer Group

Credit Services · 331 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 67 · Top 25%
Fair Value upside −69% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 7% · Below median
Operating margin (TTM) 26% · Below median
Revenue growth 32% · Above median
Debt / equity 0.08× · Lower than 75% of peers

Valuation Multiples vs Credit Services median · lower = cheaper

P/E (TTM) 42.3× · Pricier than 75% of peers
P/B 0.80× · Cheaper than median
P/S (TTM) 2.85× · Pricier than median
P/FCF 1.1× · Pricier than median
EV/EBITDA 14.2× · 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 0 · sector 37
FUTURE 100 · sector 39
PAST 9 · sector 32
HEALTH 96 · sector 58
DIVIDEND 0 · sector 51

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 Credit Services stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Visa Inc V $348.97 $204.19 -41%
Mastercard Incorporated MA $537.70 $221.87 -59%
American Express Company AXP $358.44 $206.40 -42%
Bajaj Finance Limited BAJFINANCE ₹1,056 ₹397.61 -62%
Shriram Finance Limited SHRIRAMFIN ₹1,024 ₹553.83 -46%
Cholamandalam Investment and Finance Company CHOLAFIN ₹1,808 ₹796.52 -56%
Tata Capital Limited TATACAP ₹360.60 ₹229.85 -36%
Power Finance Corporation PFC ₹405.10 ₹810.20 +100%
Muthoot Finance Limited MUTHOOTFIN ₹3,129 ₹3,463 +11%
Indian Railway Finance Corporation IRFC ₹88.41 ₹69.72 -21%

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Frequently asked questions

Is Singer Thailand Public Company (SINGER) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 3.56 THB versus a price of 11.60 THB, about −69% (overvalued).
What is the fair value of SINGER?
Our model-based fair value for Singer Thailand Public Company is 3.56 THB (as of Jul 17, 2026), built from audited fundamentals. The current price is 11.60 THB.
What is the quality score of SINGER?
Singer Thailand Public Company has a Quality Score of 67/100. 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 Singer Thailand Public Company (SINGER)?
Singer Thailand Public Company reported trailing-twelve-month revenue of about 3.7B THB (latest available figure, as of Jul 17, 2026).
What is the net profit margin of SINGER?
The net profit margin of Singer Thailand Public Company is about 6.7%, meaning it keeps roughly 6.7% of revenue as net income. Based on the latest reported figures.

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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