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Stonehenge Inter Public Company (STI) Fair Value & Analysis

Industrials · TH · Market cap 1.0B THB

SI Stonehenge Inter Public Company STI · BK
Price1.72 THB
Fair Value1.14 THB
Upside-33.7%
Quality58/100
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Weak Growth
Thin margins · 3.6% net margin
Low debt · generates free cash flow
1.51% dividend yield
Mixed vs. peers (8/14)
Narrow moat 36/100
Evidence: Medium Range 0.8500 THB – 1.45 THB Share as image

Fair value as of: Jul 11, 2026

From 26 valuation models · updated 29 days ago

Fair value updated Jul 11, 2026, revised from 1.41 THB to 1.14 THB (−19.1%) since Jun 24, 2026.

A solid business, but screening 34% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1.45 THB). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

7.53 THB 1.58 THB Fair Value 1.14 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range 1.58 THB – 7.53 THB · fair‑value band 0.8500 THB – 1.45 THB · the 1.72 THB price screens above the 1.14 THB fair value. Dashed = 300-day average. As of Jul 11, 2026.

Full chart & analysis →

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Analysis

Stonehenge Inter Public Company (STI) currently trades at 1.72 THB, while our model-based Fair Value estimate is 1.14 THB, implying the stock looks roughly 33.7% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials 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, Stonehenge Inter Public Company generated revenue of 1.4B THB at a net margin of 3.6%. Revenue grew 7.4% year over year. It earns a return on equity of 5.5%. Net debt stands at 321M THB. Fundamentals as of Jul 11, 2026

Our scenario range runs from 0.8500 THB (bear case) to 1.45 THB (bull case); at 1.72 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 about 25% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -34%, STI 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 2.40 THB 3.23 THB 4.25 THB 80
Residual Income 1.03 THB 1.03 THB 0.9200 THB 76
Rev-Margin DCF 1.52 THB 2.06 THB 2.68 THB 74
All 26 models by family
DCF Models
FCF DCF 2.38 THB 3.32 THB 4.56 THB 38
Owner Earnings 1.49 THB 2.07 THB 2.82 THB 31
5Y Revenue Exit 1.52 THB 2.02 THB 2.63 THB 39
5Y EBITDA Exit 1.96 THB 2.83 THB 3.82 THB 41
5Y P/E Exit 1.60 THB 2.16 THB 2.73 THB 38
10Y Revenue Exit 1.83 THB 2.35 THB 2.97 THB 36
10Y EBITDA Exit 2.11 THB 2.85 THB 3.79 THB 37
10Y P/E Exit 1.90 THB 2.43 THB 3.04 THB 35
Earnings-Based
Graham-Dodd 0.4600 THB 1.33 THB 1.76 THB 54
Lynch FV 0.2800 THB 0.4000 THB 0.5200 THB 50
PEG = 1.0 0.2800 THB 0.4000 THB 0.5200 THB 46
EPV 0.7400 THB 0.8200 THB 0.8900 THB 59
Dividend Discount
Gordon GGM 0.4700 THB 0.8400 THB 1.16 THB 70
DDM Multi-Stage 0.4700 THB 0.7100 THB 0.9000 THB 61
Multiples
P/E Multiple 1.05 THB 1.41 THB 1.76 THB 63
P/S Multiple 0.8500 THB 1.14 THB 1.42 THB 58
P/B Multiple 0.8500 THB 1.14 THB 1.42 THB 55
EV/EBIT 1.33 THB 1.72 THB 2.12 THB 53
EV/EBITDA 1.88 THB 2.46 THB 3.04 THB 54
EV/Revenue 0.9900 THB 1.35 THB 1.71 THB 43
Asset-Based
NCAV (Graham) 0.7100 THB 0.9500 THB 1.42 THB 50
Growth DCF
Growth DCF 2.40 THB 3.23 THB 4.25 THB 80
Rev-Margin DCF 1.52 THB 2.06 THB 2.68 THB 74
Economic Profit
Residual Income 1.03 THB 1.03 THB 0.9200 THB 76
ROIC Compounder 0.7400 THB 0.8200 THB 0.8900 THB 72
Growth Earnings
Growth-Adj P/E 0.8500 THB 1.22 THB 1.59 THB 68

Widest divergence: DCF Models (2.35 THB) versus Earnings-Based (0.4000 THB). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.4B THB
Revenue growth (YoY) +7.4%
Net margin 3.6%
Return on equity 5.5%
Free cash flow 146M THB FY2025
P/E ratio 21.5
More key figures
Operating margin 6.0%
EPS (TTM) 0.0800 THB
Dividend yield 1.5%
EPS growth (YoY) +224%
Net debt 321M THB FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 49

Profitability 31
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 23
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

Stonehenge Inter Public Company Limited, together with its subsidiaries, provides consulting and construction management services in Thailand. The company operates through two segments: Consulting and Management Services; and Design of Architectural, Engineering Services, and Other Services.

Full company description

Stonehenge Inter Public Company Limited, together with its subsidiaries, provides consulting and construction management services in Thailand. The company operates through two segments: Consulting and Management Services; and Design of Architectural, Engineering Services, and Other Services. Stonehenge Inter Public Company Limited was founded in 2004 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Stonehenge Inter Public Company reported revenue of 1.4B THB in FY2025 versus 1.7B THB in FY2021, a compound −5.9%/yr. Reported net income was 40.4M THB in FY2025, compounding −27.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.4B THB
Latest YoY
−9.6%
Avg. growth/yr (3Y)
−7.9%
Avg. growth/yr (5Y)
−2.9%
Avg. growth/yr (10Y)
+11.4%
Revenue −5.9%/yr
FY21 1.7B THB
FY22 1.7B THB
FY23 1.7B THB
FY24 1.5B THB
FY25 1.4B THB
Net income −27.3%/yr
FY21 144M THB
FY22 146M THB
FY23 113M THB
FY24 55.5M THB
FY25 40.4M THB

STI screens 34% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "Stonehenge Inter Public Company Fair Value". https://www.fairvalue-calculator.com/stock/STI

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.

Quality Score 58 · Above median
Fair Value upside −34% · Below median
Return on equity (TTM) 5% · Below median
Return on assets 3% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth 7% · Above median
Dividend yield (TTM) 1.5% · Below median
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 21.3× · Pricier than median
P/B 1.20× · Cheaper than median
P/S (TTM) 0.74× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 9.2× · 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 16
FUTURE 37 · sector 18
PAST 22 · sector 26
HEALTH 99 · sector 94
DIVIDEND 30 · sector 33

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 11, 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

Is Stonehenge Inter Public Company (STI) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of 1.14 THB versus a price of 1.72 THB, about −34% (overvalued).
What is the fair value of STI?
Our model-based fair value for Stonehenge Inter Public Company is 1.14 THB (as of Jul 11, 2026), built from audited fundamentals. The current price is 1.72 THB.
What is the quality score of STI?
Stonehenge Inter Public Company has a Quality Score of 58/100. 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 Stonehenge Inter Public Company (STI)?
Stonehenge Inter Public Company reported trailing-twelve-month revenue of about 1.4B THB (latest available figure, as of Jul 11, 2026).
What is the net profit margin of STI?
The net profit margin of Stonehenge Inter Public Company is about 3.6%, meaning it keeps roughly 3.6% of revenue as net income. Based on the latest reported figures.
Does Stonehenge Inter Public Company pay a dividend?
Stonehenge Inter Public Company currently shows a dividend yield of about 1.52% relative to its recent price (as of Jul 11, 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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