Stecon Group (STECON) Fair Value & Analysis
Industrials · TH · Market cap 27.5B THB
Fair value as of: Jul 18, 2026
From 22 valuation models · updated 23 days ago
Share price +3.4% over the past month.
A solid business, screening 21% undervalued on our models.
What matters now
- Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
- Our model range runs from 16.35 THB (bear) to 27.25 THB (bull), base 21.80 THB. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 64/100 (solid quality) with medium evidence: read the verdict with care.
Price vs Fair Value (21 months)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
21‑month range 3.28 THB – 19.80 THB · fair‑value band 16.35 THB – 27.25 THB · the 18.00 THB price screens below the 21.80 THB fair value. Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Stecon Group (STECON) currently trades at 18.00 THB, while our model-based Fair Value estimate is 21.80 THB, implying the stock looks roughly 21.1% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Industrials 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: medium), always confirm before acting.
Over the trailing twelve months, Stecon Group generated revenue of 33.6B THB at a net margin of 5.8%. Revenue grew 38.2% year over year. It earns a return on equity of 11.2%. Net debt stands at 4.4B THB. Fundamentals as of Jul 18, 2026
Our scenario range runs from 16.35 THB (bear case) to 27.25 THB (bull case); at 18.00 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 near its 52-week high and 259% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 21%, STECON 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.
All 22 models by family
Widest divergence: DCF Models (30.80 THB) versus Dividend Discount (0.0600 THB). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 77
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
Stecon Group Public Company Limited, through its subsidiaries, engages in the engineering and construction, utilities and power, infrastructure related to logistics, transportation, and other businesses in Thailand.
Full company description
Stecon Group Public Company Limited, through its subsidiaries, engages in the engineering and construction, utilities and power, infrastructure related to logistics, transportation, and other businesses in Thailand. The company undertakes construction works, such as public utilities, building, energy, industrial, environmental construction, and other projects activities. It also engages in the sale and rental of construction machinery and spare parts; contracting services; production and transportation of precast concrete parts, such as precast boxes, concrete beams, columns, and crossbeams for infrastructure and public utilities, and building projects; production and services for piles driving; and provision of consulting services on precast concrete products. In addition, the company is involved in the data center business; water supply and distribution for household and industrial use through the water supply system; and management and provision of expressways, electric railways, and airports. Further, it engages in the office building rental; distribution and rental of machinery and construction equipment; investment in utilities and power businesses; investment in other companies; investment in transportation infrastructure; property development; provision of document storage service; and production and distribution of electricity. The company was founded in 1962 and is based in Bangkok, Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2023 – FY2025 · reported fiscal years
Stecon Group reported revenue of 33.5B THB in FY2025 versus 29.6B THB in FY2023, a compound +6.3%/yr. Reported net income was 1.9B THB in FY2025, compounding +92.5%/yr from FY2023.
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Peer Group
Engineering & Construction · 837 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.
Valuation Multiples vs Engineering & Construction median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Larsen & Toubro Limited LT | ₹3,815 | ₹1,994 | -48% |
| Samsung C&T Corporation 028260 | 346,000 KRW | 268,779 KRW | -22% |
| Hyundai Engineering & Construction Co 000720 | 99,000 KRW | 63,993 KRW | -35% |
| United Integrated Services Co 2404 | 1,250 TWD | 925.62 TWD | -26% |
| Samsung E&A Co 028050 | 42,550 KRW | 44,840 KRW | +5% |
| Rail Vikas Nigam Limited RVNL | ₹232.67 | ₹61.46 | -74% |
| Daewoo Engineering & Construction Co 047040 | 16,240 KRW | 6,507 KRW | -60% |
| NBCC (India) Limited NBCC | ₹96.32 | ₹48.22 | -50% |
| Cemindia Projects Limited CEMPRO | ₹1,330 | ₹730.69 | -45% |
| KEPCO Engineering & Construction Company 052690 | 92,700 KRW | 20,172 KRW | -78% |
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Frequently asked questions
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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.
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