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TOA Paint (Thailand) Public Company (TOA) Fair Value & Analysis

Basic Materials · TH · Market cap 24.2B THB

TP TOA Paint (Thailand) Public Company TOA · BK
Price13.50 THB
Fair Value24.49 THB
Upside+81.4%
Quality90/100
Evidence: High Range 18.62 THB – 30.35 THB

Fair value as of: Jun 24, 2026

From 24 valuation models · updated 5 days ago

Share price +18.9% over the past month.

Price vs Fair Value (12 months)

14.71 THB 8.31 THB Fair Value 24.49 THB Jun 2025 Jun 2026

12‑month range 8.31 THB – 14.71 THB · fair‑value band 18.62 THB – 30.35 THB · the 13.50 THB price screens below the 24.49 THB fair value. As of Jun 24, 2026.

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Analysis

TOA Paint (Thailand) Public Company (TOA) currently trades at 13.50 THB, while our model-based Fair Value estimate is 24.49 THB — implying the stock looks roughly 81.4% undervalued today. We read business quality at 90/100 (high 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, TOA Paint (Thailand) Public Company generated revenue of 21.8B THB at a net margin of 14.4%. Revenue grew 3.7% year over year. It earns a return on equity of 20.7%. The balance sheet holds a net cash position of 2.0B THB. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) 21.8B THB
Revenue growth (YoY) +3.7%
Net margin 14.4%
Return on equity 20.7%
Free cash flow 3.3B THB FY2025
P/E ratio 7.7
More key figures
Operating margin 20.1%
EPS (TTM) 1.62 THB
Dividend yield 6.2%
EPS growth (YoY) +33.2%
Net cash 2.0B THB FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.

About the company

TOA Paint (Thailand) Public Company Limited, together with its subsidiaries, manufactures and distributes paints and chemicals in Thailand, Vietnam, Laos, Myanmar, Cambodia, Indonesia, and Malaysia. It offers construction chemicals, special paints, gypsum, hardware and power tools, and tile products, as well as decorative, metal, wood, and heavy-duty coatings. The company also provides painting services and calibration services for general laboratory instruments and specialized instruments for paint testing. In addition, it manufactures and distributes skim coat products. The company was founded in 1964 and is headquartered in Bang Sao Thong, Thailand.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TOA Paint (Thailand) Public Company reported revenue of 21.6B THB in FY2025 versus 17.6B THB in FY2021, a compound +5.3%/yr. Reported net income was 2.9B THB in FY2025, compounding +10.5%/yr from FY2021.

Revenue +5.3%/yr
FY21 17.6B THB
FY22 20.6B THB
FY23 22.2B THB
FY24 21.1B THB
FY25 21.6B THB
Net income +10.5%/yr
FY21 2.0B THB
FY22 1.4B THB
FY23 2.6B THB
FY24 1.9B THB
FY25 2.9B THB

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Frequently asked questions

Is TOA Paint (Thailand) Public Company (TOA) undervalued?
As of Jun 24, 2026, our model estimates a fair value of 24.49 THB versus a price of 13.50 THB — about +81% (undervalued). Model-based estimate, not financial advice.
What is the fair value of TOA?
Our 21-model fair value for TOA Paint (Thailand) Public Company is 24.49 THB (as of Jun 24, 2026), built from audited fundamentals. The current price is 13.50 THB.
What is the quality score of TOA?
TOA Paint (Thailand) Public Company has a Quality Score of 90/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of TOA Paint (Thailand) Public Company (TOA)?
TOA Paint (Thailand) Public Company reported trailing-twelve-month revenue of about 21.8B THB (latest available figure, as of Jun 24, 2026).
What is the net profit margin of TOA?
The net profit margin of TOA Paint (Thailand) Public Company is about 14.4%, meaning it keeps roughly 14.4% of revenue as net income. Based on the latest reported figures.
Does TOA Paint (Thailand) Public Company pay a dividend?
TOA Paint (Thailand) Public Company currently shows a dividend yield of about 6.15% relative to its recent price (as of Jun 24, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.