Siam Pan Group (SPG) Fair Value & Analysis
Basic Materials · TH · Market cap 3.8B THB
Fair value as of: Jun 24, 2026
From 24 valuation models · updated 5 days ago
Share price +1.9% over the past month.
Price vs Fair Value (12 months)
12‑month range 9.83 THB – 13.65 THB · fair‑value band 11.82 THB – 19.70 THB · the 10.90 THB price screens below the 15.76 THB fair value. As of Jun 24, 2026.
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Siam Pan Group (SPG) currently trades at 10.90 THB, while our model-based Fair Value estimate is 15.76 THB — implying the stock looks roughly 44.6% undervalued today. We read business quality at 95/100 (high quality), in the Basic Materials 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, Siam Pan Group generated revenue of 2.3B THB at a net margin of 14.6%. Revenue grew 7.8% year over year. It earns a return on equity of 5.9%. The balance sheet holds a net cash position of 1.2B THB. Fundamentals as of Jun 24, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.
About the company
Siam Pan Group Public Company Limited, together with its subsidiaries, manufactures and distributes lubricating oils and greases in Thailand, Myanmar, and internationally. The company operates in two segments, Lubricating Oil and Grease. It offers gasoline engine, transmission, light duty diesel engine, and heavy-duty diesel engine oil; agriculture and motorcycle lubricants; and specialty products, such as brake fluid, coolant, marina super lube, super HD hydraulic, cutting oil, and ice lube products. The company provides lubricating oils for engines under the Trane, Deterla, and Super Star brands; and lubricating greases for lubricating works under the Trane and Crocodile brands. It is also involved in the manufacture and sale of plastic beads, containers, caps, and lids, as well as scrap. Siam Pan Group Public Company Limited was founded in 1959 and is headquartered in Bangkok, Thailand.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Siam Pan Group reported revenue of 2.3B THB in FY2025 versus 2.9B THB in FY2021, a compound −5.8%/yr. Reported net income was 320M THB in FY2025, compounding −8.7%/yr from FY2021.
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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.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.