Thai Coating Industrial Public Company Limited (TCOAT) fair value: what the stock is really worth
As of Oct 12, 2026: fair value of Thai Coating Industrial Public Company Limited THB 17.83, price THB 24.50, upside -27.2%, quality 54 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 3, 2026.
How to read this chart
60‑month range 14.11 THB – 32.69 THB · fair‑value band 12.96 THB – 22.69 THB · the 24.50 THB price screens above the 17.83 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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Thai Coating Industrial Public Company Limited, together with its subsidiaries, engages in the manufacture and sale of plastic sack and beads in Thailand. The company was founded in 1978 and is headquartered in Si Maha Phot, Thailand.
Stock analysis
Thai Coating Industrial Public Company Limited (TCOAT) currently trades at 24.50 THB, while our model-based Fair Value estimate is 17.83 THB, 27.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 32.99 THB per share, and 1 of the 4 models we run sit above the 24.50 THB price.
Bear case: the Dividend Discount group reads lowest at 4.78 THB, and 3 of the 4 models stay below the price. Data coverage for this calculation is low.
Scenario range: 12.96 THB (bear) to 22.69 THB (bull), the price of 24.50 THB sits above 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 Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Thai Coating Industrial Public Company Limited reported revenue of 670M THB in FY2025 versus 720M THB in FY2021, a compound −1.8%/yr. Reported net income was −3.3M THB in FY2025.
Key figures
Market cap 257M THB (≈ $7.7M) · P/E ratio 90.7 · P/S ratio 0.40 · EPS (TTM) 0.2700 THB · Dividend yield 2.0% · Net margin −0.5% · Return on equity 0.8% · Return on assets (EBIT) 0.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 26 out of 100 (medium confidence).
What moves the price
The share trades about 16% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −25% fair-value upside, at −27%, TCOAT screens richer than that median.
Fair Value models
Bear12.96 THBFair Value 17.83 THBBull22.69 THB
Price 24.50 THB · Upside -27.2%
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 (0.2130 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.Coverage ⓘCoverage = 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.17/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−2.9%
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.
−5.5%
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.
−0.7%
Start year 2020 (pandemic). Over 10 years: −1.1% a year
Revenue growth 25 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.
+1.4%
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Profit margin (trend) ⓘ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.
2.3% (2020) → −1.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare Thai Coating Industrial 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.Packaging & Containers · 258 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−27.2% · Below median
Profitability
Return on equity (12 months)0.8% · Bottom 25%
Return on assets−0.5% · Bottom 25%
Net margin (12 months)0.4% · Bottom 25%
Operating margin (12 months)2.7% · Bottom 25%
Growth and dividend
Revenue growth2.2% · Below median
Dividend yield (12 months)2.0% · Below median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Packaging & Containers median · lower = cheaper
P/E (12 months)90.7× · Priciest 25%
P/B0.50× · Cheapest 25%
P/S (12 months)0.40× · Cheaper than median
EV/EBITDA9.1× · Pricier than median
PEG0.31× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 18
FUTURE (revenue growth)11· sector 42
PAST (return on equity)3· sector 27
HEALTH (low debt)100· sector 92
DIVIDEND (yield)41· sector 51
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Thai Coating Industrial Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TCOAT
Frequently asked questions
Is Thai Coating Industrial Public Company Limited (TCOAT) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 17.83 THB versus a price of 24.50 THB, about −27% upside (overvalued).
What is the fair value of TCOAT?
Our model-based fair value for Thai Coating Industrial Public Company Limited is 17.83 THB (as of Oct 3, 2026), built from audited fundamentals. The current price: 24.50 THB.
What is the quality score of TCOAT?
Thai Coating Industrial Public Company Limited has a Quality Score of 54/100. 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 Thai Coating Industrial Public Company Limited (TCOAT)?
Our model-based price target is the fair value of 17.83 THB (as of Oct 3, 2026) from 4 valuation models. Cautious scenario 12.96 THB, optimistic scenario 22.69 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Thai Coating Industrial Public Company Limited stock forecast for 2026?
Our models put fair value at 17.83 THB, about −27% upside versus a price of 24.50 THB (overvalued). Cautious scenario 12.96 THB, optimistic scenario 22.69 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Thai Coating Industrial Public Company Limited (TCOAT)?
Thai Coating Industrial Public Company Limited reported trailing-twelve-month revenue of about 651M THB (latest available figure, as of Oct 3, 2026).
Does Thai Coating Industrial Public Company Limited pay a dividend?
Thai Coating Industrial Public Company Limited currently shows a dividend yield of about 2.04% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Thai Coating Industrial Public Company Limited (TCOAT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thai Coating Industrial Public Company Limited it is 17.83 THB per share (as of Oct 3, 2026), against a price of 24.50 THB. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Thai Coating Industrial Public Company Limited stock overvalued or undervalued in 2026?
As of Oct 3, 2026, TCOAT trades above its calculated fair value: price 24.50 THB, fair value 17.83 THB, a gap of about −27% (overvalued). 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 TCOAT?
No. The price is what the market pays today (24.50 THB); the fair value is what the company's own numbers justify (17.83 THB). For Thai Coating Industrial Public Company Limited the two are 6.67 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Thai Coating Industrial Public Company Limited worth?
The market values Thai Coating Industrial Public Company Limited at about 257M THB (market capitalisation, as of Oct 3, 2026). Per share that is 24.50 THB; our models calculate a fair value of 17.83 THB per share.
What do the bullish and bearish scenarios say about TCOAT?
Our models span a range for Thai Coating Industrial Public Company Limited: cautious scenario 12.96 THB, base 17.83 THB, optimistic 22.69 THB per share (as of Oct 3, 2026, price 24.50 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TCOAT?
Thai Coating Industrial Public Company Limited trades at a price-to-earnings ratio of 90.7 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 17.83 THB is built from several models across several years. Other multiples: PEG 0.3, P/B 0.5, P/S 0.4, EV/EBITDA 9.1.
What is the PEG ratio of TCOAT?
The PEG ratio of Thai Coating Industrial Public Company Limited is 0.31 (P/E divided by earnings growth, as of Oct 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Thai Coating Industrial Public Company Limited (TCOAT)?
Balance-sheet figures for Thai Coating Industrial Public Company Limited (as of Oct 3, 2026): return on equity 0.8%, debt of 0.00 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is TCOAT from its 52-week high?
Thai Coating Industrial Public Company Limited trades at 24.50 THB, about 16% below its 52-week high of 29.00 THB and 8% above the low of 22.59 THB (as of Oct 12, 2026). Distance from the high says nothing about value: that is what the fair value of 17.83 THB is for.
Which stocks are comparable to Thai Coating Industrial Public Company Limited?
From the same area (Consumer Cyclical) we also value Smurfit Westrock Plc,, Packaging Corporation, Amcor plc, International Paper Company, 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 Thai Coating Industrial Public Company Limited stock attractive at the current price?
The data as of Oct 3, 2026: price 24.50 THB, calculated fair value 17.83 THB (−27%), Quality Score 54/100, from 4 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 TCOAT calculated?
We run Thai Coating Industrial Public Company Limited through 4 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 17.83 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 13.8 % above its aggregate fair value. Thai Coating Industrial Public Company Limited itself currently trades above fair value. 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 Thai Coating Industrial Public Company Limited (TCOAT)?
The closing price on Oct 12, 2026 was 24.50 THB. Our model-based fair value is 17.83 THB, about −27% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Thai Coating Industrial Public Company Limited right now?
The price sits above even our optimistic bull case (22.69 THB). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Thai Coating Industrial Public Company Limited (TCOAT) come from?
Earnings per share at Thai Coating Industrial Public Company Limited grew −25.6 % a year from 2015 to 2025. Broken into its drivers: revenue per share −0.8 %, EBIT margin −23.4 %, tax rate −0.6 %, residual (interest, one-offs) −1.4 %. 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 Thai Coating Industrial Public Company Limited
How large is the market capitalisation of Thai Coating Industrial Public Company Limited (TCOAT)?
The market capitalisation of Thai Coating Industrial Public Company Limited is 257M THB (≈ $7.7M). 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 Thai Coating Industrial Public Company Limited (TCOAT)?
The price-to-sales ratio of Thai Coating Industrial Public Company Limited is 0.40 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Thai Coating Industrial Public Company Limited (TCOAT)?
Earnings per share at Thai Coating Industrial Public Company Limited are 0.2700 THB (price ÷ EPS = P/E 90.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Thai Coating Industrial Public Company Limited (TCOAT)?
The dividend yield of Thai Coating Industrial Public Company Limited is 2.0% (payout 185%). 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 Thai Coating Industrial Public Company Limited (TCOAT)?
The net margin of Thai Coating Industrial Public Company Limited is −0.5% (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 Thai Coating Industrial Public Company Limited (TCOAT)?
The return on equity (ROE) of Thai Coating Industrial Public Company Limited is 0.8% (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 Thai Coating Industrial Public Company Limited (TCOAT)?
On an EBIT basis the return on assets of Thai Coating Industrial Public Company Limited is 0.0% (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 Thai Coating Industrial Public Company Limited (TCOAT)?
The operating margin of Thai Coating Industrial Public Company Limited is 2.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thai Coating Industrial Public Company Limited (TCOAT)?
Revenue at Thai Coating Industrial Public Company Limited is growing +2.2% versus a year earlier (3y avg −5.5%). 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 Thai Coating Industrial Public Company Limited (TCOAT)?
Earnings per share at Thai Coating Industrial Public Company Limited are growing −8.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Thai Coating Industrial Public Company Limited (TCOAT) generate?
The free cash flow of Thai Coating Industrial Public Company Limited is −58.9M THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Thai Coating Industrial Public Company Limited (TCOAT) carry?
The net debt of Thai Coating Industrial Public Company Limited is 17.1M THB (fiscal year 2025). 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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