Thai Nondestructive Testing Public Company Limited (TNDT) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Thai Nondestructive Testing Public Company Limited stock THB 0.13, price THB 0.27, that is 51.9% below the price, quality 42 out of 100. Rating: strongly overvalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.
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Thai Nondestructive Testing Public Company Limited
TNDT · BKOur calculation puts a fair price 52% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 0.0900 THB – 1.90 THB · fair‑value band 0.0900 THB – 0.1700 THB · the 0.2700 THB price screens above the 0.1300 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Company profile
Thai Nondestructive Testing Public Company Limited, together with its subsidiaries, provides nondestructive engineering services in Thailand.
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It operates through five segments: Nondestructive Testing Services; Inspection Services for Pressure Vessel; Electron Beam; Revenue from Contractor Services Relating to Electricity, Generating System; and Revenue from Sales.
The company offers conventional nondestructive testing services, including eddy current, magnetic particle, liquid penetrant, radiography, ultrasonic, and leak testing, as well coating holiday detector, visual inspection, alternative current field measurement, and thermography image.
It also provides advance nondestructive testing services, such as column scanning, neutron backscattering, acoustic emission testing, advanced ultrasonic testing, computerized and pipeline radiography, eddy current array, phased array ultrasonic corrosion mapping, pipeline and long/short range ultrasonic testing, tank floor scan, tube inspection, and intelligent pigging.
In addition, the company offers material identification and metallurgy; asset integrity management; plant maintenance and inspection; inspection and certification; welding engineering; special work at height; engineering repairs and maintenance; NDE level III consultancy; and manpower recruitment services, as well as provision of electron beams for disinfection, material modification and polymer crosslinking, and irradiation of food applications.
Further, it is involved in the excavation and transportation services of coal; generation and sale of electricity from coal-fired thermal power; maintenance of machinery and equipment; sale of rice, other agricultural, and general processed products; procurement and services of public utility systems; wholesale of other food product; and operation as an agent in collecting claim-related expenses and operational service.
The company was incorporated in 1982 and is headquartered in Bangkok, Thailand.
Stock analysis
Thai Nondestructive Testing Public Company Limited (TNDT) currently trades at 0.2700 THB, while our model-based Fair Value estimate is 0.1300 THB, 52% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 0.1000 THB per share, and 0 of the 10 models we run sit above the 0.2700 THB price.
Bear case: the Asset-Based group reads lowest at 0.0400 THB, and 10 of the 10 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.0900 THB (bear) to 0.1700 THB (bull), the price of 0.2700 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 42/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Thai Nondestructive Testing Public Company Limited reported revenue of 362M THB in FY2025 versus 254M THB in FY2021, a compound +9.2%/yr. Reported net income was −18.0M THB in FY2025.
Key figures
Market cap 468M THB (≈ $14.0M) Micro · P/S ratio 1.46 · EPS (TTM) −0.0100 THB · Net margin −3.3% · Return on equity −8.1% · Return on assets (EBIT) −7.5% (5-year average) · Operating margin −14.0% · Revenue (TTM) 368M THB.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 13 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 200% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at −52%, TNDT screens richer than that median.
Fair Value models
All 10 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
TNDT screens overvalued: fair value 52% below the price. Compare with Quanta Services, Inc →
Compare Thai Nondestructive Testing Public Company Limited with another stock
Price, fair value, quality and upside side by side.
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 · 791 stocks
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/S ratio by industry
- EBIT margin by industry
- PEG screener for stocks with fair value
- Undervalued stocks: Industrials
- Valuation of the Thailand market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Vinci SA DG | €111.60 | €186.68 | +67% | vs TNDT |
| Comfort Systems USA, Inc FIX | $1,018 | $1,119 | +10% | vs TNDT |
| EMCOR Group EME | $608.45 | $524.14 | −14% | vs TNDT |
| ACS, Actividades de Construcción y Servicios, S.A ACS | €87.00 | €62.21 | −28% | vs TNDT |
| Samsung C&T Corporation 028260 | 273,500 KRW | 159,702 KRW | −42% | vs TNDT |
| Larsen & Toubro Limited LT | ₹4,118 | ₹2,302 | −44% | vs TNDT |
| HOCHTIEF Aktiengesellschaft HOT | €365.60 | €203.86 | −44% | vs TNDT |
| APi Group APG | $40.87 | $19.20 | −53% | vs TNDT |
| Ferrovial N.V FER | $58.71 | $23.06 | −61% | vs TNDT |
| Quanta Services, Inc PWR | $540.90 | $162.41 | −70% | vs TNDT |
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Key figures of Thai Nondestructive Testing Public Company Limited
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