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Thai Eastern Group (TEGH) Fair Value & Analysis

Basic Materials · TH · Market cap 3.3B THB

TE Thai Eastern Group TEGH · BK
Price3.06 THB
Fair Value7.27 THB
Upside+137.7%
Quality64/100
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Healthy Growth
Thin margins · 2.3% net margin
Low debt · generates free cash flow
7.10% dividend yield
Ranks above peers (10/14)
Narrow moat 41/100
Evidence: High Range 5.46 THB – 10.04 THB Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 8.40 THB to 7.27 THB (−13.4%) since Jun 25, 2026. Share price −1.3% over the past month.

A solid business, screening 138% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (5.46 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (5.46 THB to 10.04 THB) leaves room in how you read the outcome.
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Price vs Fair Value (4 years)

4.93 THB 1.96 THB Fair Value 7.27 THB Sep 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

46‑month range 1.96 THB – 4.93 THB · fair‑value band 5.46 THB – 10.04 THB · the 3.06 THB price screens below the 7.27 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Thai Eastern Group (TEGH) currently trades at 3.06 THB, while our model-based Fair Value estimate is 7.27 THB, implying the stock looks roughly 137.7% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Basic Materials 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: high), always confirm before acting.

Over the trailing twelve months, Thai Eastern Group generated revenue of 18.8B THB at a net margin of 2.3%. Revenue declined 22.1% year over year. It earns a return on equity of 11.3%. Net debt stands at 3.6B THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 5.46 THB (bear case) to 10.04 THB (bull case); at 3.06 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 10% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at 138%, TEGH 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 22.33 THB 44.65 THB 82.14 THB 80
Residual Income 3.46 THB 4.22 THB 8.99 THB 76
Rev-Margin DCF 10.21 THB 16.44 THB 25.31 THB 74
All 26 models by family
DCF Models
FCF DCF 23.19 THB 40.69 THB 85.52 THB 38
Owner Earnings 7.67 THB 16.30 THB 32.87 THB 31
5Y Revenue Exit 10.21 THB 16.20 THB 24.62 THB 39
5Y EBITDA Exit 11.32 THB 18.69 THB 28.63 THB 41
5Y P/E Exit 11.03 THB 18.28 THB 26.80 THB 38
10Y Revenue Exit 14.06 THB 21.99 THB 32.65 THB 36
10Y EBITDA Exit 14.99 THB 23.92 THB 37.87 THB 37
10Y P/E Exit 14.79 THB 23.41 THB 36.21 THB 35
Earnings-Based
Graham-Dodd 3.36 THB 21.18 THB 29.59 THB 54
Lynch FV 6.11 THB 8.73 THB 11.35 THB 50
PEG = 1.0 6.11 THB 8.73 THB 11.35 THB 46
EPV 3.92 THB 4.59 THB 5.17 THB 59
Dividend Discount
Gordon GGM 1.84 THB 3.67 THB 5.56 THB 70
DDM Multi-Stage 1.84 THB 3.18 THB 3.88 THB 61
Multiples
P/E Multiple 6.30 THB 8.40 THB 10.49 THB 63
P/S Multiple 6.30 THB 8.40 THB 10.49 THB 58
P/B Multiple 6.30 THB 8.40 THB 10.49 THB 55
EV/EBIT 5.12 THB 6.94 THB 8.76 THB 53
EV/EBITDA 6.40 THB 8.65 THB 10.90 THB 54
EV/Revenue 4.39 THB 6.42 THB 8.45 THB 43
Asset-Based
NCAV (Graham) 1.82 THB 2.44 THB 3.64 THB 50
Growth DCF
Growth DCF 22.33 THB 44.65 THB 82.14 THB 80
Rev-Margin DCF 10.21 THB 16.44 THB 25.31 THB 74
Economic Profit
Residual Income 3.46 THB 4.22 THB 8.99 THB 76
ROIC Compounder 4.13 THB 5.94 THB 7.51 THB 72
Growth Earnings
Growth-Adj P/E 7.95 THB 11.36 THB 14.76 THB 68

Widest divergence: DCF Models (18.69 THB) versus Asset-Based (2.44 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 18.8B THB
Revenue growth (YoY) -22.4%
Net margin 2.3%
Return on equity 11.3%
Free cash flow 1.8B THB FY2025
P/E ratio 7.8
More key figures
Operating margin 2.8%
EPS (TTM) 0.4000 THB
Dividend yield 7.1%
EPS growth (YoY) -54.0%
Net debt 3.6B THB FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 63 · Market factors (momentum, volatility) 61

Profitability 52
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 52
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

Thai Eastern Group Holdings Public Company Limited, together with its subsidiaries, engages in the rubber, crude palm oil, renewable energy and organic waste management, and logistics businesses in Thailand and internationally.

Full company description

Thai Eastern Group Holdings Public Company Limited, together with its subsidiaries, engages in the rubber, crude palm oil, renewable energy and organic waste management, and logistics businesses in Thailand and internationally. It produces and trades in concentrated latex, block rubber, and palm seed oil products; and crude palm oil that is used in consumer products, and animal feed industries, as well as raw materials to produce biodiesel. The company is also involved in the treatment of wastewater; production of biogas; and operates transports raw materials. The company was founded in 1991 and is headquartered in Chonburi, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Thai Eastern Group reported revenue of 20.0B THB in FY2025 versus 11.1B THB in FY2021, a compound +15.9%/yr. Reported net income was 533M THB in FY2025, compounding −1.3%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
20.0B THB
Latest YoY
+18.6%
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.
+9.1%
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.
+19.5%
Avg. growth/yr (7Y) 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.
+12.9%
Revenue +15.9%/yr
FY21 11.1B THB
FY22 15.4B THB
FY23 12.1B THB
FY24 16.8B THB
FY25 20.0B THB
Net income −1.3%/yr
FY21 563M THB
FY22 684M THB
FY23 215M THB
FY24 556M THB
FY25 533M THB

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Cite: Fair Value Calculator (2026). "Thai Eastern Group Fair Value". https://www.fairvalue-calculator.com/stock/TEGH

Peer Group

Specialty Chemicals · 673 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 64 · Top 25%
Fair Value upside +138% · Top 25%
Return on equity (TTM) 11% · Above median
Return on assets 3% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth -22% · Bottom 25%
Dividend yield (TTM) 7.1% · Top 25%
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 7.7× · Cheaper than 75% of peers
P/B 0.85× · Cheaper than median
P/S (TTM) 0.18× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 4.5× · 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 0
FUTURE 0 · sector 19
PAST 45 · sector 23
HEALTH 94 · sector 95
DIVIDEND 100 · sector 25

Insider activity: 45/100

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Thai Eastern Group (TEGH) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 7.27 THB versus a price of 3.06 THB, about +138% (undervalued).
What is the fair value of TEGH?
Our model-based fair value for Thai Eastern Group is 7.27 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 3.06 THB.
What is the quality score of TEGH?
Thai Eastern Group has a Quality Score of 64/100. 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 Thai Eastern Group (TEGH)?
Thai Eastern Group reported trailing-twelve-month revenue of about 18.8B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of TEGH?
The net profit margin of Thai Eastern Group is about 2.3%, meaning it keeps roughly 2.3% of revenue as net income. Based on the latest reported figures.
Does Thai Eastern Group pay a dividend?
Thai Eastern Group currently shows a dividend yield of about 7.05% relative to its recent price (as of Jul 16, 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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