STP&I Public Company Limited (STPI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of STP&I Public Company Limited THB 5.18, price THB 5.55, upside -6.7%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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STP&I Public Company Limited
STPI · BKNeutralQuality growthThe stock looks roughly fairly valued with average quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 2.28 THB – 6.95 THB · fair‑value band 5.18 THB – 6.24 THB · the 5.55 THB price screens above the 5.18 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
STP&I Public Company Limited engages in the fabrication of steel works, and manufacture and sale of boilers and pressure vessels in Thailand, Australia, the United States, Canada.
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STP&I Public Company Limited engages in the fabrication of steel works, and manufacture and sale of boilers and pressure vessels in Thailand, Australia, the United States, Canada. It offers steel structures for airports, exhibition halls, and high-rise buildings; industrial plants, such as factories, automobile plants, and steel mills; power plants, such as boiler structures, turbine buildings, and equipment support structures; petrochemical plants comprising refineries, and gas separation and aromatic plants; and bridges consisting of built-in cable anchor structural decks, main structures, decking for cable stay bridges, flyovers, and pipe bridges jetties. The company also provides piping pre-fabrication and erection services for various industrial plants, such as power plants, oil refineries, petrochemical plants, and offshore process plants, as well as produces offshore and onshore modules. In addition, it offers engineering services; fabrication services, such as cutting/rolling/drilling, assembly and welding, inspection, blasting and painting, and packing and delivery; and plant and process module construction, as well as construction support services. Further, the company manufactures, sells, and rents construction equipment; operates community automated gas station; produces and distributes electricity generated from waste products; and offers municipal solid waste management, property development, and logistics services, as well as rents land, office buildings, and warehouses. The company was formerly known as Sino-Thai Pressure Vessel & Iron Works and changed its name to STP&I Public Company Limited in 1995. STP&I Public Company Limited was founded in 1975 and is based in Bangkok, Thailand.
Stock analysis
STP&I Public Company Limited (STPI) currently trades at 5.55 THB, while our model-based Fair Value estimate is 5.18 THB, implying the stock looks roughly 7.1% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 5.69 THB per share, and 6 of the 24 models we run sit above the 5.55 THB price.
Bear case: the Earnings-Based group reads lowest at 1.82 THB, and 18 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 5.18 THB (bear) to 6.24 THB (bull), the price of 5.55 THB sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
STP&I Public Company Limited reported revenue of 3.5B THB in FY2025 versus 2.3B THB in FY2021, a compound +11.2%/yr. Reported net income was 195M THB in FY2025, compounding −11.7%/yr from FY2021.
Key figures
Market cap 10.1B THB (≈ $302M) · P/E ratio 92.5 · P/S ratio 5.23 · EPS (TTM) 0.0600 THB · Net margin 5.7% · Return on equity 1.4% · Return on assets (EBIT) 1.1% · Operating margin −14.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and 54% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at −7%, STPI screens cheaper than that median.
Fair Value models
All 24 models by family
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Set up alert →Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 60
Revenue & earnings trend
Growth Forecast
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Compare STP&I Public Company Limited with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Metal Fabrication · 259 stocks
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Materials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Valuation of the Thailand market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Metal Fabrication stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Carpenter Technology Corporation CRS | $400.02 | $109.07 | −73% |
| ATI Inc ATI | $186.56 | $39.75 | −79% |
| Mueller Industries, Inc MLI | $59.90 | $59.33 | −1% |
| Aurubis AG NDA | €171.10 | €109.36 | −36% |
| China International Marine Containers (Group) Co 000039 | ¥9.02 | ¥12.11 | +34% |
| Commercial Metals Company CMC | $65.00 | $13.01 | −80% |
| JL Mag Rare-Earth Co 300748 | ¥25.84 | ¥5.25 | −80% |
| Viohalco S.A VIO | €17.66 | €16.01 | −9% |
| ESAB Corporation ESAB | $68.44 | $56.92 | −17% |
| Ningbo Zhenyu Technology Co 300953 | ¥95.18 | ¥44.23 | −54% |
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Key figures of STP&I Public Company Limited
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