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Saha-Union Public Company (SUC) Fair Value & Analysis

Industrials · TH · Market cap 8.2B THB

SU Saha-Union Public Company SUC · BK
Price27.25 THB
Fair Value55.00 THB
Upside+101.8%
Quality63/100
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Weak Growth
Highly profitable · 20.9% net margin
Low debt · generates free cash flow
5.50% dividend yield
Ranks above peers (11/14)
Moderate moat 50/100
Evidence: Medium Range 41.25 THB – 68.75 THB Share as image

Fair value as of: Jul 12, 2026

From 12 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from 54.50 THB to 55.00 THB (+0.9%) since Jun 26, 2026. Share price −0.9% over the past month.

A solid business, screening 102% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (41.25 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

29.43 THB 21.20 THB Fair Value 55.00 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 21.20 THB – 29.43 THB · fair‑value band 41.25 THB – 68.75 THB · the 27.25 THB price screens below the 55.00 THB fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Saha-Union Public Company (SUC) currently trades at 27.25 THB, while our model-based Fair Value estimate is 55.00 THB, implying the stock looks roughly 101.8% undervalued today. The Quality Score stands at 63/100 (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, Saha-Union Public Company generated revenue of 8.3B THB at a net margin of 20.9%. Revenue declined 12.4% year over year. It earns a return on equity of 6.9%. The balance sheet holds a net cash position of 3.4B THB. Fundamentals as of Jul 12, 2026

Our scenario range runs from 41.25 THB (bear case) to 68.75 THB (bull case); at 27.25 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 6% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at 102%, SUC 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 Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF 66.17 THB 84.01 THB 113.56 THB 80
Residual Income 65.31 THB 68.57 THB 73.08 THB 76
Rev-Margin DCF 35.17 THB 38.93 THB 44.32 THB 74
All 12 models by family
DCF Models
Owner Earnings 70.03 THB 90.74 THB 127.91 THB 31
5Y P/E Exit 81.43 THB 117.76 THB 161.11 THB 38
10Y P/E Exit 73.98 THB 97.75 THB 120.55 THB 35
Earnings-Based
Graham-Dodd 40.14 THB 49.07 THB 55.20 THB 54
Dividend Discount
Gordon GGM 13.62 THB 14.84 THB 16.69 THB 70
DDM Multi-Stage 13.62 THB 16.83 THB 21.21 THB 61
Multiples
P/E Multiple 92.98 THB 123.98 THB 154.97 THB 63
P/B Multiple 75.27 THB 100.36 THB 125.45 THB 55
Asset-Based
NCAV (Graham) 40.67 THB 54.50 THB 81.35 THB 50
Growth DCF
Growth DCF 66.17 THB 84.01 THB 113.56 THB 80
Rev-Margin DCF 35.17 THB 38.93 THB 44.32 THB 74
Economic Profit
Residual Income 65.31 THB 68.57 THB 73.08 THB 76

Widest divergence: Multiples (100.36 THB) versus Dividend Discount (14.84 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 8.3B THB
Revenue growth (YoY) -12.4%
Net margin 20.9%
Return on equity 6.9%
Free cash flow 1.6B THB FY2025
P/E ratio 4.6
More key figures
Operating margin 8.7%
EPS (TTM) 5.96 THB
Dividend yield 5.5%
EPS growth (YoY) -13.5%
Net cash 3.4B THB FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 63 · Market factors (momentum, volatility) 59

Profitability 39
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 41
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

Saha-Union Public Company Limited, together with its subsidiaries, engages in plastic, rubber and metal, chemicals, trading, energy, hotel, investment, and other businesses.

Full company description

Saha-Union Public Company Limited, together with its subsidiaries, engages in plastic, rubber and metal, chemicals, trading, energy, hotel, investment, and other businesses. It also manufactures and distributes rubber, finished elastic products, elastic products, plastic products, vacuum bottles, and stainless-steel kitchenware; manufactures and repairs molds; and provides dormitory rental services. In addition, the company is involved in the operation of a computer and equipment dealership; operation of hotel and rubber estates; power generation; and investment business, as well as real estate development and rental. It operates in Thailand, Asia, Europe, the United States, and internationally. The company was founded in 1972 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Saha-Union Public Company reported revenue of 7.8B THB in FY2025 versus 8.4B THB in FY2021, a compound −1.8%/yr. Reported net income was 1.8B THB in FY2025, compounding +31.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
7.8B THB
Latest YoY
−13.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−5.8%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−2.3%
Avg. growth/yr (25Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−3.3%
Revenue −1.8%/yr
FY21 8.4B THB
FY22 9.3B THB
FY23 9.1B THB
FY24 9.0B THB
FY25 7.8B THB
Net income +31.0%/yr
FY21 601M THB
FY22 1.1B THB
FY23 1.2B THB
FY24 1.5B THB
FY25 1.8B THB
Character of growth · EPS growth decomposed (2014-2025) +3.7 % p.a.
Revenue per share −1.9 pp

of which total revenue −1.9 pp · buybacks/dilution +0.0 pp

EBIT margin −4.9 pp
Tax rate +0.8 pp
Residual (interest, one-offs) +9.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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

Peer Group

Conglomerates · 369 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 63 · Top 25%
Fair Value upside +102% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 2% · Below median
Net margin (TTM) 21% · Top 25%
Operating margin (TTM) 9% · Above median
Revenue growth -12% · Bottom 25%
Dividend yield (TTM) 5.5% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Conglomerates median · lower = cheaper

P/E (TTM) 4.6× · Cheaper than 75% of peers
P/B 0.34× · Cheaper than median
P/S (TTM) 1.00× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 3.1× · 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 20
FUTURE 0 · sector 16
PAST 28 · sector 20
HEALTH 100 · sector 88
DIVIDEND 100 · sector 39

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 Conglomerates stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

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The Siam Cement Public Company SCC 254.00 THB 199.40 THB -21%
SRF Limited SRF ₹2,875 ₹1,053 -63%
Empresas Copec S.A COPEC 6,330 CLP 10,879 CLP +72%
Posco International Corporation 047050 50,900 KRW 61,248 KRW +20%
Tube Investments of India Limited TIINDIA ₹2,940 ₹559.30 -81%
Doosan Corporation 000155 464,000 KRW 75,620 KRW -84%
Thermax Limited THERMAX ₹4,809 ₹1,087 -77%

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Frequently asked questions

Is Saha-Union Public Company (SUC) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 55.00 THB versus a price of 27.25 THB, about +102% (undervalued).
What is the fair value of SUC?
Our model-based fair value for Saha-Union Public Company is 55.00 THB (as of Jul 12, 2026), built from audited fundamentals. The current price is 27.25 THB.
What is the quality score of SUC?
Saha-Union Public Company has a Quality Score of 63/100. 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-Union Public Company (SUC)?
Saha-Union Public Company reported trailing-twelve-month revenue of about 8.3B THB (latest available figure, as of Jul 12, 2026).
What is the net profit margin of SUC?
The net profit margin of Saha-Union Public Company is about 20.9%, meaning it keeps roughly 20.9% of revenue as net income. Based on the latest reported figures.
Does Saha-Union Public Company pay a dividend?
Saha-Union Public Company currently shows a dividend yield of about 5.50% relative to its recent price (as of Jul 12, 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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