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Smart Concrete Public Company (SMART) Fair Value & Analysis

Basic Materials · TH · Market cap 583M THB

SC Smart Concrete Public Company SMART · BK
Price0.5900 THB
Fair Value0.5300 THB
Upside-10.2%
Quality60/100
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Weak Growth
Thin margins · 8.7% net margin
Low debt · generates free cash flow
7.41% dividend yield
Ranks above peers (11/14)
Narrow moat 44/100
Evidence: High Range 0.4200 THB – 0.6600 THB Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 27 days ago

Fair value updated Jul 14, 2026, revised from 0.6500 THB to 0.5300 THB (−18.5%) since Jun 24, 2026. Share price +9.3% over the past month.

A solid business, but screening 10% overvalued on our models.

What matters now

  • Our model range runs from 0.4200 THB (bear) to 0.6600 THB (bull), base 0.5300 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 60/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

1.24 THB 0.3598 THB Fair Value 0.5300 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 0.3598 THB – 1.24 THB · fair‑value band 0.4200 THB – 0.6600 THB · the 0.5900 THB price screens above the 0.5300 THB fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Smart Concrete Public Company (SMART) currently trades at 0.5900 THB, while our model-based Fair Value estimate is 0.5300 THB, implying the stock looks roughly 10.2% overvalued today. The Quality Score stands at 60/100 (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: high).

Over the trailing twelve months, Smart Concrete Public Company generated revenue of 459M THB at a net margin of 8.7%. Revenue grew 11.3% year over year. It earns a return on equity of 7.1%. The balance sheet holds a net cash position of 209M THB. Fundamentals as of Jul 14, 2026

Our scenario range runs from 0.4200 THB (bear case) to 0.6600 THB (bull case); at 0.5900 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 2% below its 52-week high and 61% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at -10%, SMART 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 0.6800 THB 0.8000 THB 0.9900 THB 80
Residual Income 0.4500 THB 0.4500 THB 0.4100 THB 76
Rev-Margin DCF 0.5900 THB 0.7300 THB 0.9000 THB 74
All 24 models by family
DCF Models
FCF DCF 0.6600 THB 0.7900 THB 1.01 THB 38
Owner Earnings 0.5500 THB 0.6500 THB 0.8100 THB 31
5Y Revenue Exit 0.5900 THB 0.7200 THB 0.9000 THB 39
5Y EBITDA Exit 0.6800 THB 0.8800 THB 1.15 THB 41
5Y P/E Exit 0.6100 THB 0.7700 THB 0.9500 THB 38
10Y Revenue Exit 0.6100 THB 0.7000 THB 0.8000 THB 36
10Y EBITDA Exit 0.6700 THB 0.8000 THB 0.9300 THB 37
10Y P/E Exit 0.6300 THB 0.7300 THB 0.8200 THB 35
Earnings-Based
Graham-Dodd 0.2100 THB 0.2600 THB 0.2900 THB 54
EPV 0.4400 THB 0.4700 THB 0.5000 THB 59
Dividend Discount
Gordon GGM 0.3800 THB 0.4100 THB 0.4500 THB 70
DDM Multi-Stage 0.3800 THB 0.4500 THB 0.5400 THB 61
Multiples
P/E Multiple 0.4000 THB 0.5300 THB 0.6600 THB 63
P/S Multiple 0.4000 THB 0.5300 THB 0.6600 THB 58
P/B Multiple 0.4000 THB 0.5300 THB 0.6600 THB 55
EV/EBIT 0.6000 THB 0.7200 THB 0.8400 THB 53
EV/EBITDA 0.7700 THB 0.9500 THB 1.13 THB 54
EV/Revenue 0.5500 THB 0.6800 THB 0.8200 THB 43
Asset-Based
NCAV (Graham) 0.3100 THB 0.4100 THB 0.6200 THB 50
Growth DCF
Growth DCF 0.6800 THB 0.8000 THB 0.9900 THB 80
Rev-Margin DCF 0.5900 THB 0.7300 THB 0.9000 THB 74
Economic Profit
Residual Income 0.4500 THB 0.4500 THB 0.4100 THB 76
ROIC Compounder 0.4400 THB 0.4700 THB 0.5000 THB 72
Growth Earnings
Growth-Adj P/E 0.2800 THB 0.4000 THB 0.5200 THB 68

Widest divergence: DCF Models (0.7300 THB) versus Earnings-Based (0.2600 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 459M THB
Revenue growth (YoY) +11.3%
Net margin 8.7%
Return on equity 7.1%
Free cash flow 54.8M THB FY2025
P/E ratio 12.9
More key figures
Operating margin 11.0%
EPS (TTM) 0.0420 THB
Dividend yield 7.4%
EPS growth (YoY) -47.4%
Net cash 209M THB FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 63 · Market factors (momentum, volatility) 67

Profitability 35
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 82
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

Smart Concrete Public Company Limited manufactures and sells autoclave aerated concrete block products for use in construction in Thailand. It offers construction and decorative products under the SMART BLOCK name. The company was founded in 2004 and is headquartered in Chonburi, Thailand.

Full company description

Smart Concrete Public Company Limited manufactures and sells autoclave aerated concrete block products for use in construction in Thailand. It offers construction and decorative products under the SMART BLOCK name. The company was founded in 2004 and is headquartered in Chonburi, Thailand. Smart Concrete Public Company Limited is a subsidiary of Chonburi Concrete Product Public Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Smart Concrete Public Company reported revenue of 426M THB in FY2025 versus 457M THB in FY2021, a compound −1.7%/yr. Reported net income was 32.3M THB in FY2025, compounding −5.1%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
426M THB
Latest YoY
−26.4%
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.
−9.2%
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.
+0.5%
Avg. growth/yr (12Y) 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 −1.7%/yr
FY21 457M THB
FY22 570M THB
FY23 709M THB
FY24 579M THB
FY25 426M THB
Net income −5.1%/yr
FY21 39.9M THB
FY22 39.0M THB
FY23 107M THB
FY24 87.0M THB
FY25 32.3M THB

SMART screens 10% overvalued. Compare with CRH plc →

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Cite: Fair Value Calculator (2026). "Smart Concrete Public Company Fair Value". https://www.fairvalue-calculator.com/stock/SMART

Peer Group

Building Materials · 253 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 60 · Top 25%
Fair Value upside −10% · Below median
Return on equity (TTM) 7% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 11% · Top 25%
Dividend yield (TTM) 7.4% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 12.9× · Cheaper than median
P/B 0.91× · Pricier than median
P/S (TTM) 1.27× · Pricier than median
P/FCF 0.3× · Cheaper than median
EV/EBITDA 3.6× · Cheaper 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 20 · sector 27
FUTURE 57 · sector 2
PAST 28 · sector 15
HEALTH 100 · sector 92
DIVIDEND 100 · sector 42

Insider activity: 30/100

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is Smart Concrete Public Company (SMART) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 0.5300 THB versus a price of 0.5900 THB, about −10% (overvalued).
What is the fair value of SMART?
Our model-based fair value for Smart Concrete Public Company is 0.5300 THB (as of Jul 14, 2026), built from audited fundamentals. The current price is 0.5900 THB.
What is the quality score of SMART?
Smart Concrete Public Company 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 revenue of Smart Concrete Public Company (SMART)?
Smart Concrete Public Company reported trailing-twelve-month revenue of about 459M THB (latest available figure, as of Jul 14, 2026).
What is the net profit margin of SMART?
The net profit margin of Smart Concrete Public Company is about 8.7%, meaning it keeps roughly 8.7% of revenue as net income. Based on the latest reported figures.
Does Smart Concrete Public Company pay a dividend?
Smart Concrete Public Company currently shows a dividend yield of about 7.55% relative to its recent price (as of Jul 14, 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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