Thai Coating Industrial Public Company Limited (TCOAT) Fair Value & Analysis
Consumer Cyclical · TH · Market cap 291M THB (≈ $8.8M) · ISIN TH0401010002
Risks
Fair value as of: Aug 13, 2026
From 4 valuation models · updated 17 days ago
Share price +1.9% over the past month.
A solid business, but trading 49% above our fair value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (22.69 THB). The favourable scenario is already priced in.
- 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 but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 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 26.50 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 Aug 13, 2026.
Analysis
Thai Coating Industrial Public Company Limited (TCOAT) currently trades at 26.50 THB, while our model-based Fair Value estimate is 17.83 THB, implying the stock looks roughly 32.7% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Consumer Cyclical 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: low).
Over the trailing twelve months, Thai Coating Industrial Public Company Limited generated revenue of 670M THB at a net margin of -0.5%. Revenue declined 13.0% year over year. It earns a return on equity of -0.4%. Net debt stands at 17.1M THB. Fundamentals as of Aug 13, 2026
Our scenario range runs from 12.96 THB (bear case) to 22.69 THB (bull case); at 26.50 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 16% below its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -39% fair-value upside, at -33%, TCOAT screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.21 THB per share, which is 1.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
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.
All 4 models by family
Widest divergence: Asset-Based (32.99 THB) versus Dividend Discount (3.72 THB). Highest evidence: Gordon GGM (69).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 47
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
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.
of which total revenue −0.8 % · buybacks/dilution +0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
TCOAT screens 49% overvalued. Compare with Smurfit Westrock Plc, →
Peer Group
Packaging & Containers · 275 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.
Valuation Multiples vs Packaging & Containers median · lower = cheaper
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: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Smurfit Westrock Plc, SW | $49.25 | $22.66 | -54% |
| Packaging Corporation PKG | $246.68 | $122.63 | -50% |
| International Paper Company IP | $41.39 | $21.44 | -48% |
| Amcor plc AMCR | $46.52 | $18.79 | -60% |
| Ball Corporation BALL | $61.67 | $36.57 | -41% |
| Crown Holdings CCK | $119.08 | $118.59 | -0% |
| Avery Dennison Corporation AVY | $182.33 | $113.05 | -38% |
| CCL Industries Inc CCLA | C$93.99 | C$77.64 | -17% |
| Stora Enso Oyj STEAV | €9.74 | €11.42 | +17% |
| SIG Group SIGN | CHF 13.66 | CHF 8.32 | -39% |
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Frequently asked questions
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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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