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Delta Electronics (Thailand) Public Company Limited (TDED) Fair Value & Analysis

Industrials · SG · Market cap 155B SGD

DE Delta Electronics (Thailand) Public Company Limited TDED · SG
Price10.28 SGD
Fair Value1.47 SGD
Upside-85.7%
Quality65/100
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Strengths

Solidly profitable · 13.1% net margin
Low debt · generates free cash flow
Ranks above peers (8/12)
Wide moat 74/100

Risks

!Trades 599% ABOVE our fair value of 1.47 SGD
!Mixed Growth (revenue 3y +18.7 %/yr)
!The models disagree: range 0.9400 SGD to 2.76 SGD
Mixed Growth (revenue 3y +18.7 %/yr)
Solidly profitable · 13.1% net margin
Low debt · generates free cash flow
4.95% dividend yield
Ranks above peers (8/12)
Wide moat 74/100
Evidence: High Range 0.9400 SGD – 2.76 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 10 days ago

Share price −10.5% over the past month.

A solid business, but screening 86% overvalued on our models.

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 (2.76 SGD). The favourable scenario is already priced in.
  • The model range is unusually wide (0.9400 SGD to 2.76 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (2 years)

14.28 SGD 2.22 SGD Fair Value 1.47 SGD Apr 2024 Aug 2026

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

29‑month range 2.22 SGD – 14.28 SGD · fair‑value band 0.9400 SGD – 2.76 SGD · the 10.28 SGD price screens above the 1.47 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Delta Electronics (Thailand) Public Company Limited (TDED) currently trades at 10.28 SGD, while our model-based Fair Value estimate is 1.47 SGD, implying the stock looks roughly 85.7% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Industrials 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: high).

Over the trailing twelve months, Delta Electronics (Thailand) Public Company Limited generated revenue of 217B SGD at a net margin of 13.1%. Revenue grew 44.2% year over year. It earns a return on equity of 29.6%. The stock trades on a trailing P/E of 114.2. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.9400 SGD (bear case) to 2.76 SGD (bull case); at 10.28 SGD, 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 31% below its 52-week high and 147% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -44% fair-value upside, at -86%, TDED screens richer 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 17.41 SGD 32.46 SGD 61.34 SGD 80
Residual Income 13.57 SGD 18.40 SGD 111.10 SGD 76
Rev-Margin DCF 21.14 SGD 41.89 SGD 73.10 SGD 74
All 24 models by family
DCF Models
FCF DCF 18.21 SGD 29.35 SGD 61.60 SGD 38
Owner Earnings 24.23 SGD 53.16 SGD 113.90 SGD 31
5Y Revenue Exit 21.14 SGD 39.43 SGD 75.45 SGD 39
5Y EBITDA Exit 25.68 SGD 49.22 SGD 92.59 SGD 41
5Y P/E Exit 28.41 SGD 60.61 SGD 102.59 SGD 38
10Y Revenue Exit 19.44 SGD 41.41 SGD 67.61 SGD 36
10Y EBITDA Exit 23.45 SGD 50.07 SGD 99.87 SGD 37
10Y P/E Exit 25.38 SGD 55.28 SGD 107.98 SGD 35
Earnings-Based
Graham-Dodd 13.53 SGD 94.34 SGD 132.39 SGD 54
Lynch FV 28.46 SGD 40.66 SGD 52.86 SGD 50
PEG = 1.0 28.46 SGD 40.66 SGD 52.86 SGD 46
EPV 17.82 SGD 20.53 SGD 22.90 SGD 59
Multiples
P/E Multiple 31.33 SGD 41.78 SGD 52.22 SGD 63
P/S Multiple 23.83 SGD 31.77 SGD 39.71 SGD 58
P/B Multiple 25.36 SGD 33.82 SGD 42.27 SGD 55
EV/EBIT 29.11 SGD 38.30 SGD 47.48 SGD 53
EV/EBITDA 29.03 SGD 38.19 SGD 47.35 SGD 54
EV/Revenue 21.22 SGD 29.65 SGD 38.08 SGD 43
Asset-Based
NCAV (Graham) 3.88 SGD 5.20 SGD 7.75 SGD 50
Growth DCF
Growth DCF 17.41 SGD 32.46 SGD 61.34 SGD 80
Rev-Margin DCF 21.14 SGD 41.89 SGD 73.10 SGD 74
Economic Profit
Residual Income 13.57 SGD 18.40 SGD 111.10 SGD 76
ROIC Compounder 21.74 SGD 30.61 SGD 42.88 SGD 72
Growth Earnings
Growth-Adj P/E 38.68 SGD 55.26 SGD 71.83 SGD 68

Widest divergence: Growth Earnings (55.26 SGD) versus Asset-Based (5.20 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 114.2
P/S ratio 0.71 TTM
Dividend yield 5.0%
Net margin 13.1% TTM
Return on equity 29.6% TTM
Return on assets 12.5% TTM
More key figures
Profitability
Operating margin 16.1% TTM
EPS (TTM) 0.0900 SGD
Growth
Revenue (TTM) 217B SGD TTM
Revenue growth (YoY) +44.2% 3y avg +18.7%
EPS growth (YoY) +65.9%
Balance sheet & cash flow
Free cash flow 13.1B SGD FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 64 · Market factors (momentum, volatility) 60

Profitability 79
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 24
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 78
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.

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

Delta Electronics (Thailand) Public Company Limited, together with its subsidiaries, researches and develops, manufactures, and distributes electronic products. The company operates through four segments: Power Electronics, Mobility, Infrastructure, and Automation.

Full company description

Delta Electronics (Thailand) Public Company Limited, together with its subsidiaries, researches and develops, manufactures, and distributes electronic products. The company operates through four segments: Power Electronics, Mobility, Infrastructure, and Automation. It offers inductors, RF inductors, transformers, networking products, EMI filters, solenoids, current sensing resistors, and power modules; power and system products, such as USB socket outlets, medical power, industrial power supplies, industrial battery charging, high voltage power, embedded power, and adapters; DC brushless fans and blowers, motors, thermal management products, cabinet thermal solutions, indoor air quality solutions, and automotive fans; EV powertrain systems; and display and visualization, mobile power, industrial power, and medical power products, as well as healthcare devices. The company also provides building automation products comprising building management and control system, LED lighting, smart surveillance, indoor air quality, healthy lighting, and building energy management system products; industrial automation products; data center, telecom power systems, networking systems, and UPS and datacenter infrastructure solutions; EV charging and energy storage systems, renewable energy, industrial battery charging, healthcare devices, industrial equipment, energy IoT, and display and visualization products; and visual display and smart education solutions. In addition, it offers industrial and building automation, data center, telecom energy, smart energy, displays and monitoring, and EV charging solutions. Further, the company rents properties; and manufactures and trades electric vehicle, as well as engages in holding business. It operates in Thailand, the United States, Germany, Singapore, China, India, Taiwan, the Netherlands, Hungary, Malaysia, and internationally. The company was incorporated in 1988 and is based in Samut Prakan, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Delta Electronics (Thailand) Public Company Limited reported revenue of 198B SGD in FY2025 versus 84.3B SGD in FY2021, a compound +23.8%/yr. Reported net income was 24.8B SGD in FY2025, compounding +38.7%/yr from FY2021.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
198B SGD
Latest YoY
+20.3%
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.
+18.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+29.9% (29.9 + 0.0)
Revenue +23.8%/yr
FY21 84.3B SGD
FY22 119B SGD
FY23 146B SGD
FY24 165B SGD
FY25 198B SGD
Net income +38.7%/yr
FY21 6.7B SGD
FY22 15.3B SGD
FY23 18.4B SGD
FY24 18.9B SGD
FY25 24.8B SGD

TDED screens 86% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "Delta Electronics (Thailand) Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TDED

Peer Group

Electrical Equipment & Parts · 551 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 65 · Top 25%
Fair Value upside −84% · Bottom 25%
Return on equity (TTM) 30% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 16% · Top 25%
Revenue growth 44% · Top 25%
Dividend yield (TTM) 5.8% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 114.2× · Pricier than 75% of peers
P/FCF 9.3× · Pricier than median
PEG 3.03× · Pricier 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 57
PAST100 · sector 26
HEALTH100 · sector 97
DIVIDEND100 · sector 23

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.

None of the checked exposures detected

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$652.50 HK$394.19 -40%
ABB Ltd ABBN CHF 80.38 CHF 28.31 -65%
Vertiv Holdings VRT $288.36 $63.13 -78%
LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW -45%
Prysmian S.p.A PRY €131.40 €84.15 -36%
Legrand SA LR €134.65 €78.82 -41%
Sungrow Power Supply Co 300274 ¥117.53 ¥123.83 +5%
Hubbell Incorporated HUBB $512.90 $285.77 -44%
Shenzhen Inovance Technology Co 300124 ¥61.07 ¥33.04 -46%
nVent Electric plc NVT $151.98 $40.68 -73%

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Frequently asked questions

Is Delta Electronics (Thailand) Public Company Limited (TDED) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.47 SGD versus a price of 10.28 SGD, about −86% (overvalued).
What is the fair value of TDED?
Our model-based fair value for Delta Electronics (Thailand) Public Company Limited is 1.47 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price: 10.28 SGD.
What is the quality score of TDED?
Delta Electronics (Thailand) Public Company Limited has a Quality Score of 65/100. 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 Delta Electronics (Thailand) Public Company Limited (TDED)?
Delta Electronics (Thailand) Public Company Limited reported trailing-twelve-month revenue of about 217B SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of TDED?
The net profit margin of Delta Electronics (Thailand) Public Company Limited is about 13.1%, meaning it keeps roughly 13.1% of revenue as net income. Based on the latest reported figures.
Does Delta Electronics (Thailand) Public Company Limited pay a dividend?
Delta Electronics (Thailand) Public Company Limited currently shows a dividend yield of about 4.95% relative to its recent price (as of Aug 13, 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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