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Saha Pathanapibul Public Company (SPC) Fair Value & Analysis

Consumer Defensive · TH · Market cap 18.3B THB

SP Saha Pathanapibul Public Company SPC · BK
Price56.00 THB
Fair Value136.66 THB
Upside+144.0%
Quality60/100
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Healthy Growth
Thin margins · 6.3% net margin
Low debt · generates free cash flow
4.32% dividend yield
Ranks above peers (13/15)
Narrow moat 43/100
Evidence: High Range 78.12 THB – 170.82 THB Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 25 days ago

Share price +0.9% over the past month.

A solid business, screening 144% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (78.12 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (78.12 THB to 170.82 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

60.91 THB 48.39 THB Fair Value 136.66 THB Dec 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 48.39 THB – 60.91 THB · fair‑value band 78.12 THB – 170.82 THB · the 56.00 THB price screens below the 136.66 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Saha Pathanapibul Public Company (SPC) currently trades at 56.00 THB, while our model-based Fair Value estimate is 136.66 THB, implying the stock looks roughly 144.0% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Saha Pathanapibul Public Company generated revenue of 40.9B THB at a net margin of 6.3%. Revenue declined 4.7% year over year. It earns a return on equity of 9.3%. The balance sheet holds a net cash position of 1.9B THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 78.12 THB (bear case) to 170.82 THB (bull case); at 56.00 THB, the current price sits below 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 1% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -26% fair-value upside, at 144%, SPC 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 BearBaseBull Evidence
Highest evidence
Growth DCF 68.53 THB 114.29 THB 191.07 THB 80
Residual Income 74.37 THB 81.75 THB 117.93 THB 76
Rev-Margin DCF 74.95 THB 127.89 THB 195.46 THB 74
All 26 models by family
DCF Models
FCF DCF 68.83 THB 118.20 THB 202.97 THB 38
Owner Earnings 104.89 THB 182.48 THB 315.73 THB 31
5Y Revenue Exit 74.95 THB 129.44 THB 203.49 THB 39
5Y EBITDA Exit 74.97 THB 129.48 THB 197.46 THB 41
5Y P/E Exit 108.64 THB 198.23 THB 300.67 THB 38
10Y Revenue Exit 69.85 THB 120.83 THB 198.82 THB 36
10Y EBITDA Exit 72.35 THB 120.86 THB 193.83 THB 37
10Y P/E Exit 94.58 THB 170.96 THB 279.42 THB 35
Earnings-Based
Graham-Dodd 54.66 THB 245.08 THB 335.88 THB 54
Lynch FV 63.81 THB 91.16 THB 118.51 THB 50
PEG = 1.0 63.81 THB 91.16 THB 118.51 THB 46
EPV 66.54 THB 76.67 THB 85.53 THB 59
Dividend Discount
Gordon GGM 22.29 THB 46.34 THB 73.52 THB 70
DDM Multi-Stage 22.29 THB 39.08 THB 48.64 THB 61
Multiples
P/E Multiple 132.64 THB 176.85 THB 221.07 THB 63
P/S Multiple 102.49 THB 136.66 THB 170.82 THB 58
P/B Multiple 102.49 THB 136.66 THB 170.82 THB 55
EV/EBIT 114.41 THB 150.62 THB 186.83 THB 53
EV/EBITDA 84.26 THB 110.43 THB 136.59 THB 54
EV/Revenue 79.00 THB 110.38 THB 141.77 THB 43
Asset-Based
NCAV (Graham) 43.06 THB 57.70 THB 86.12 THB 50
Growth DCF
Growth DCF 68.53 THB 114.29 THB 191.07 THB 80
Rev-Margin DCF 74.95 THB 127.89 THB 195.46 THB 74
Economic Profit
Residual Income 74.37 THB 81.75 THB 117.93 THB 76
ROIC Compounder 66.54 THB 76.67 THB 85.53 THB 72
Growth Earnings
Growth-Adj P/E 106.69 THB 152.42 THB 198.15 THB 68

Widest divergence: Growth Earnings (152.42 THB) versus Dividend Discount (39.08 THB). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 40.9B THB
Revenue growth (YoY) -4.7%
Net margin 6.3%
Return on equity 9.3%
Free cash flow 1.6B THB FY2025
P/E ratio 7.1
More key figures
Operating margin 7.5%
EPS (TTM) 7.82 THB
Dividend yield 4.4%
EPS growth (YoY) -10.8%
Net cash 1.9B THB FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 62

Profitability 48
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 56
Distance to the 52-week high (market factor)
Net Issuance 78
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

Saha Pathanapibul Public Company Limited, together with its subsidiaries, engages in the consumer goods distribution business in Thailand and internationally. It operates in two segments, Sales of Consumer Products; and Office Building for Rent. The company distributes food and beverages, household, personal care, and other products.

Full company description

Saha Pathanapibul Public Company Limited, together with its subsidiaries, engages in the consumer goods distribution business in Thailand and internationally. It operates in two segments, Sales of Consumer Products; and Office Building for Rent. The company distributes food and beverages, household, personal care, and other products. It is also involved in sale of real estate properties; manufacture of instant noodles, mineral water, yoghurt, and coffee and beverage, as well as plastic packaging products; rental of office building; leasing of asset; internal and external service rendering; system implementation and computer programing services; and investment in startup businesses. The company distributes its products through traditional trade retailers and wholesalers, and modern trade retailers, including superstores and supermarket convenience stores, as well as special channels. Saha Pathanapibul Public Company Limited was founded in 1942 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Saha Pathanapibul Public Company reported revenue of 41.2B THB in FY2025 versus 33.7B THB in FY2021, a compound +5.1%/yr. Reported net income was 2.7B THB in FY2025, compounding +11.0%/yr from FY2021.

Growth Quality 64/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
41.2B THB
Latest YoY
+0.4%
Avg. growth/yr (3Y)
+5.4%
Avg. growth/yr (5Y)
+4.9%
Avg. growth/yr (25Y)
+6.1%
Revenue +5.1%/yr
FY21 33.7B THB
FY22 35.2B THB
FY23 37.9B THB
FY24 41.0B THB
FY25 41.2B THB
Net income +11.0%/yr
FY21 1.7B THB
FY22 1.6B THB
FY23 2.2B THB
FY24 2.7B THB
FY25 2.7B THB

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Cite: Fair Value Calculator (2026). "Saha Pathanapibul Public Company Fair Value". https://www.fairvalue-calculator.com/stock/SPC

Peer Group

Food Distribution · 77 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 · Above median
Fair Value upside +144% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 6% · Top 25%
Operating margin (TTM) 7% · Top 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 4.3% · Above median

Valuation Multiples vs Food Distribution median · lower = cheaper

P/E (TTM) 7.1× · Cheaper than 75% of peers
P/B 0.64× · Cheaper than median
P/S (TTM) 0.45× · Pricier than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 5.6× · Cheaper than median
PEG 0.80× · 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 100 · sector 21
FUTURE 0 · sector 14
PAST 37 · sector 36
HEALTH 100 · sector 94
DIVIDEND 86 · sector 42

Insider activity: 40/100

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 Food Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Sysco Corporation SYY $81.69 $60.58 -26%
US Foods Holding USFD $99.13 $55.10 -44%
Performance Food Group PFGC $113.17 $37.94 -66%
Jerónimo Martins, SGPS, S.A JMT €17.68 €21.59 +22%
CP Axtra Public Company CPAXT 14.90 THB 17.04 THB +14%
The Chefs' Warehouse, Inc CHEF $95.79 $37.27 -61%
Olam Group VC2 1.33 SGD 2.12 SGD +59%
United Natural Foods, Inc UNFI $50.19 $6.00 -88%
The Andersons, Inc ANDE $79.24 $47.78 -40%
Metcash Limited MTS A$2.92 A$5.33 +83%

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Frequently asked questions

Is Saha Pathanapibul Public Company (SPC) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 136.66 THB versus a price of 56.00 THB, about +144% (undervalued).
What is the fair value of SPC?
Our model-based fair value for Saha Pathanapibul Public Company is 136.66 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 56.00 THB.
What is the quality score of SPC?
Saha Pathanapibul 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 Saha Pathanapibul Public Company (SPC)?
Saha Pathanapibul Public Company reported trailing-twelve-month revenue of about 40.9B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of SPC?
The net profit margin of Saha Pathanapibul Public Company is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does Saha Pathanapibul Public Company pay a dividend?
Saha Pathanapibul Public Company currently shows a dividend yield of about 4.36% relative to its recent price (as of Jul 16, 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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