Syntec Construction Public Company Limited (SYNTEC) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Syntec Construction Public Company Limited THB 4.91, price THB 1.78, upside +175.8%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.
How to read this chart
60‑month range 1.21 THB – 2.02 THB · fair‑value band 3.06 THB – 7.15 THB · the 1.78 THB price screens below the 4.91 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 4, 2026.
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Syntec Construction Public Company Limited, together with its subsidiaries, provides construction contracting and real estate development services in Thailand.
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Syntec Construction Public Company Limited, together with its subsidiaries, provides construction contracting and real estate development services in Thailand. It operates in four segments: Construction Business; Real Estate Development for Room Service or Service Apartment and Rental Business; Operate the Management Business for Hotel, Service Apartment, and Other Properties; and Provide Consulting Services, Procurement, Work Installation, Sanitary System, Electricity System, and Plumping System. The company offers construction services comprising preparatory, piling, foundation, soil erosion protection, structure, architecture, architectural, and landscape architectural works, as well as system engineering services, consisting of electrical system, mechanical system, sanitation work, elevator system, air conditioning, and various automation system works. Its construction projects include hotels, data centers, shopping centers, warehouses and factories, housing, hospitals, institutional education, energy, condominiums, and offices. The company also designs and installs solar rooftop power plants; and installs chiller systems for air conditioning in shopping malls, office buildings, industrial factories, and hospitals. In addition, it provides mechanical and electrical engineering, civil engineering and infrastructure work, piling and specialist foundation engineering, environmental engineering, specialized retrofitting and refurbishment, and engineering design with project consultancy and management services, as well as hotel business management and services. It serves public agencies and the private sector. The company was formerly known as Siam Syntech Construction Public Company Limited and changed its name to Syntec Construction Public Company Limited in April 2004. Syntec Construction Public Company Limited was incorporated in 1988 and is headquartered in Bangkok, Thailand.
Stock analysis
Syntec Construction Public Company Limited (SYNTEC) currently trades at 1.78 THB, while our model-based Fair Value estimate is 4.91 THB, implying the stock looks roughly 63.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 6.88 THB per share, and 24 of the 26 models we run sit above the 1.78 THB price.
Bear case: the Dividend Discount group reads lowest at 1.14 THB, and 2 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 3.06 THB (bear) to 7.15 THB (bull), the price of 1.78 THB sits below 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 61/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Syntec Construction Public Company Limited reported revenue of 8.0B THB in FY2025 versus 5.2B THB in FY2021, a compound +11.1%/yr. Reported net income was 590M THB in FY2025, compounding +74.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 2.8B THB (≈ $83.5M) · P/E ratio 4.5 · P/S ratio 0.33 · EPS (TTM) 0.4000 THB · Dividend yield 6.7% · Net margin 7.4% · Return on equity 10.0% · Return on assets (EBIT) 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 15% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 176%, SYNTEC screens cheaper than that median.
Fair Value models
Bear 3.06 THBFair Value 4.91 THBBull 7.15 THB
Price 1.78 THB · Upside +175.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.2125 THB per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−1.3%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+16.1%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.1%
Start year 2020 (pandemic). Over 10 years: +1.1% a year
Revenue growth 26 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.5%
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What shareholders gained per year (last 5 years), in THB (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+56.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+50.2%
Dividend (yield on the price)6.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.26.4% vs −0.7%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 9%
2025 sits 64% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Compare Syntec Construction Public Company Limited with another stock
Price, fair value, quality and upside side by side.
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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.Engineering & Construction · 801 stocks
Beats the industry median on 14/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Top 25%
Fair Value upside+175.8% · Top 25%
Profitability
Return on equity (TTM)10.0% · Above median
Return on assets5.1% · Above median
Net margin (TTM)7.8% · Top 25%
Operating margin (TTM)11.2% · Top 25%
Growth and dividend
Revenue growth3.9% · Above median
Dividend yield (TTM)6.7% · Top 25%
Balance sheet
Debt / equity0.11× · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Syntec Construction Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/SYNTEC
Frequently asked questions
Is Syntec Construction Public Company Limited (SYNTEC) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of 4.91 THB versus a price of 1.78 THB, about +176% upside (undervalued).
What is the fair value of SYNTEC?
Our model-based fair value for Syntec Construction Public Company Limited is 4.91 THB (as of Oct 4, 2026), built from audited fundamentals. The current price: 1.78 THB.
What is the quality score of SYNTEC?
Syntec Construction Public Company Limited has a Quality Score of 61/100. 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 price target for Syntec Construction Public Company Limited (SYNTEC)?
Our model-based price target is the fair value of 4.91 THB (as of Oct 4, 2026) from 26 valuation models. Cautious scenario 3.06 THB, optimistic scenario 7.15 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Syntec Construction Public Company Limited stock forecast for 2026?
Our models put fair value at 4.91 THB, about +176% upside versus a price of 1.78 THB (undervalued). Cautious scenario 3.06 THB, optimistic scenario 7.15 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Syntec Construction Public Company Limited (SYNTEC)?
Syntec Construction Public Company Limited reported trailing-twelve-month revenue of about 8.1B THB (latest available figure, as of Oct 4, 2026).
Does Syntec Construction Public Company Limited pay a dividend?
Syntec Construction Public Company Limited currently shows a dividend yield of about 6.74% relative to its recent price (as of Oct 4, 2026).
What growth is priced into Syntec Construction Public Company Limited (SYNTEC)?
For today's price to be fair in a discounted-cash-flow model, Syntec Construction Public Company Limited would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 13.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.1 % per year. As of Oct 4, 2026.
What discount rate (WACC) does the fair value of SYNTEC use?
Our models discount Syntec Construction Public Company Limited at 13.1 %: a base by market capitalisation (micro), damped by beta 0.24, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Syntec Construction Public Company Limited that is less than minus 40 % per year a year over ten years, using the same discount rate (13.1 %) and the same formula as our fair value.
How much growth has Syntec Construction Public Company Limited (SYNTEC) delivered so far?
Over the past 5 years revenue at Syntec Construction Public Company Limited grew +0.1 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Syntec Construction Public Company Limited (SYNTEC) growing?
The median revenue growth in the sector is +7.4 % a year. That is the yardstick for the growth priced into Syntec Construction Public Company Limited (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Syntec Construction Public Company Limited (SYNTEC)?
The free-cash-flow yield on the price is 18.41 %: that much free cash flow Syntec Construction Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (13.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Syntec Construction Public Company Limited (SYNTEC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Syntec Construction Public Company Limited it is 4.91 THB per share (as of Oct 4, 2026), against a price of 1.78 THB. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Syntec Construction Public Company Limited stock overvalued or undervalued in 2026?
As of Oct 4, 2026, SYNTEC trades below its calculated fair value: price 1.78 THB, fair value 4.91 THB, a gap of about +176% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SYNTEC?
No. The price is what the market pays today (1.78 THB); the fair value is what the company's own numbers justify (4.91 THB). For Syntec Construction Public Company Limited the two are 3.13 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Syntec Construction Public Company Limited worth?
The market values Syntec Construction Public Company Limited at about 2.8B THB (market capitalisation, as of Oct 4, 2026). Per share that is 1.78 THB; our models calculate a fair value of 4.91 THB per share.
What do the bullish and bearish scenarios say about SYNTEC?
Our models span a range for Syntec Construction Public Company Limited: cautious scenario 3.06 THB, base 4.91 THB, optimistic 7.15 THB per share (as of Oct 4, 2026, price 1.78 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SYNTEC?
Syntec Construction Public Company Limited trades at a price-to-earnings ratio of 4.5 (as of Oct 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 4.91 THB is built from several models across several years. Other multiples: P/B 0.5, P/S 0.3, EV/EBITDA 3.4.
How solid is the balance sheet of Syntec Construction Public Company Limited (SYNTEC)?
Balance-sheet figures for Syntec Construction Public Company Limited (as of Oct 4, 2026): return on equity 10.0%, debt of 0.11 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is SYNTEC from its 52-week high?
Syntec Construction Public Company Limited trades at 1.78 THB, about 12% below its 52-week high of 2.02 THB and 15% above the low of 1.54 THB (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 4.91 THB is for.
Which stocks are comparable to Syntec Construction Public Company Limited?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Syntec Construction Public Company Limited stock attractive at the current price?
The data as of Oct 4, 2026: price 1.78 THB, calculated fair value 4.91 THB (+176%), Quality Score 61/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SYNTEC calculated?
We run Syntec Construction Public Company Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 4.91 THB, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0 % above its aggregate fair value. Syntec Construction Public Company Limited currently trades 64 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Syntec Construction Public Company Limited (SYNTEC)?
The closing price on Oct 1, 2026 was 1.78 THB. Our model-based fair value is 4.91 THB, about +176% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Syntec Construction Public Company Limited right now?
The price is below even our cautious bear case (3.06 THB). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (3.06 THB to 7.15 THB) leaves room in how you read the outcome.
Where does the earnings growth of Syntec Construction Public Company Limited (SYNTEC) come from?
Earnings per share at Syntec Construction Public Company Limited grew −4.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.7 %, EBIT margin −3.3 %, tax rate −0.4 %, residual (interest, one-offs) −1.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Syntec Construction Public Company Limited
How large is the market capitalisation of Syntec Construction Public Company Limited (SYNTEC)?
The market capitalisation of Syntec Construction Public Company Limited is 2.8B THB (≈ $83.5M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Syntec Construction Public Company Limited (SYNTEC)?
The price-to-sales ratio of Syntec Construction Public Company Limited is 0.33 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Syntec Construction Public Company Limited (SYNTEC)?
Earnings per share at Syntec Construction Public Company Limited are 0.4000 THB (price ÷ EPS = P/E 4.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Syntec Construction Public Company Limited (SYNTEC)?
The dividend yield of Syntec Construction Public Company Limited is 6.7% (payout 30.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Syntec Construction Public Company Limited (SYNTEC)?
The net margin of Syntec Construction Public Company Limited is 7.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Syntec Construction Public Company Limited (SYNTEC)?
The return on equity (ROE) of Syntec Construction Public Company Limited is 10.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Syntec Construction Public Company Limited (SYNTEC)?
On an EBIT basis the return on assets of Syntec Construction Public Company Limited is 2.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Syntec Construction Public Company Limited (SYNTEC)?
The operating margin of Syntec Construction Public Company Limited is 11.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Syntec Construction Public Company Limited (SYNTEC)?
Revenue at Syntec Construction Public Company Limited is growing +3.9% versus a year earlier (3y avg +16.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Syntec Construction Public Company Limited (SYNTEC)?
Earnings per share at Syntec Construction Public Company Limited are growing +34.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Syntec Construction Public Company Limited (SYNTEC) carry?
The net debt of Syntec Construction Public Company Limited is 1.1B THB (fiscal year 2025, ≈ 2.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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