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Thai Poly Acrylic Public Company Limited (TPA) fair value: what the stock is really worth

As of Oct 12, 2026: fair value of Thai Poly Acrylic Public Company Limited THB 1.56, price THB 2.68, upside -41.8%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Basic Materials · TH · ISIN TH0457010Z02

TP Thin data Oct 3, 2026

Thai Poly Acrylic Public Company Limited

TPA · BK

Stretched ValuationStrong overvaluation with only moderate quality.

Low debt
Quality 53/100
Thin margins · 1.2% net margin (TTM)
Fair value 1.56 THB · Strongly overvalued (−41.8%)
Weak Growth (revenue 5y −7.4 %/yr in THB)
Negative free cash flow
Trails peers (5/13)
Narrow moat 24/100 · thin data
Thin data
⟳ Cyclical
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

6.23 THB 1.95 THB Fair Value 1.56 THB Dec 2020 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range 1.95 THB – 6.23 THB · fair‑value band 1.46 THB – 1.68 THB · the 2.68 THB price screens above the 1.56 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

Thai Poly Acrylic Public Company Limited manufactures and distributes acrylic sheets and acrylonitrile butadiene styrene, high impact polystyrene sheets, and other extruded plastic sheets in Thailand and internationally.

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Thai Poly Acrylic Public Company Limited manufactures and distributes acrylic sheets and acrylonitrile butadiene styrene, high impact polystyrene sheets, and other extruded plastic sheets in Thailand and internationally. The company provides range of cast acrylic sheets, which includes general purpose, LED block, magic colors, micarle-1, light guide panel, diffusion, sanitary ware, and texture. It also offers heat block, UV block, and heat and UV block series products. In addition, it serves architecture and construction, lighting, home appliance and fridge, packaging, automotive and transportation, hygiene and safety, sanitary ware, trophies and premium, signage and advertisement, interior design and decoration, and retail display and POP applications. The company was incorporated in 1985 and is headquartered in Nakhon Pathom, Thailand.

Stock analysis

Thai Poly Acrylic Public Company Limited (TPA) currently trades at 2.68 THB, while our model-based Fair Value estimate is 1.56 THB, 41.8% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 1.95 THB per share, and 0 of the 3 models we run sit above the 2.68 THB price.

Bear case: the DCF Models group reads lowest at 0.8400 THB, and 3 of the 3 models stay below the price. Evidence for this calculation is low.

Scenario range: 1.46 THB (bear) to 1.68 THB (bull), the price of 2.68 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 53/100 (solid quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Thai Poly Acrylic Public Company Limited reported revenue of 632M THB in FY2025 versus 894M THB in FY2021, a compound −8.3%/yr. Reported net income was −14.0M THB in FY2025.

Key figures

Market cap 326M THB (≈ $9.7M) · P/E ratio 44.7 · P/S ratio 0.61 · EPS (TTM) 0.0600 THB · Net margin −2.2% · Return on equity 1.7% · Return on assets (EBIT) −1.5% · Operating margin 1.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).

What moves the price

The share trades about 4% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −53% fair-value upside, at −42%, TPA screens cheaper than that median.

Fair Value models

Bear 1.46 THB Fair Value 1.56 THB Bull 1.68 THB
Price 2.68 THB · Upside -41.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0470 THB per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Owner Earnings 0.7800 THB 0.8400 THB 0.9500 THB 78
EV/EBITDA 0.7900 THB 0.8400 THB 0.9000 THB 67
NCAV (Graham) 1.46 THB 1.95 THB 2.91 THB 54
All 3 models by family
DCF Models
Owner Earnings 0.7800 THB 0.8400 THB 0.9500 THB 78
Multiples
EV/EBITDA 0.7900 THB 0.8400 THB 0.9000 THB 67
Asset-Based
NCAV (Graham) 1.46 THB 1.95 THB 2.91 THB 54

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Quality Score breakdown

Overall quality 53/100

Of which business quality 53 · Market factors (momentum, volatility) 48

Profitability 29
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−20.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−5.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−7.4%
Start year 2020 (pandemic). Over 10 years: −5.6% a year
Revenue growth 25 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−0.5%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
7.8% (2020) → −2.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

TPA screens overvalued: fair value 42% below the price. Compare with Linde plc →

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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.Specialty Chemicals · 715 stocks

Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 53 · Above median
Fair Value upside −41.8% · Below median
Profitability
Return on equity (TTM) 1.7% · Below median
Return on assets 0.3% · Bottom 25%
Net margin (TTM) 1.2% · Bottom 25%
Operating margin (TTM) 1.6% · Bottom 25%
Growth and dividend
Revenue growth −28.3% · Bottom 25%
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/E (TTM) 44.7× · Priciest 25%
P/B 0.92× · Cheapest 25%
P/S (TTM) 0.63× · Cheaper than median
EV/EBITDA 14.8× · Pricier than median
PEG 0.23× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 59
PAST (return on equity)7 · sector 26
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)0 · sector 28

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Wanhua Chemical Group 600309 ¥69.20 ¥68.03 −2% vs TPA
Linde plc LIN $482.38 $441.72 −8% vs TPA
PPG Industries, Inc PPG $105.46 $76.98 −27% vs TPA
Asian Paints Limited ASIANPAINT ₹2,331 ₹1,479 −37% vs TPA
The Sherwin-Williams Company SHW $319.51 $151.68 −53% vs TPA
Givaudan SA GIVN CHF 3,409 CHF 1,527 −55% vs TPA
Air Products and Chemicals, Inc APD $277.57 $121.30 −56% vs TPA
Ecolab Inc ECL $280.82 $96.56 −66% vs TPA
EMS-CHEMIE HOLDING AG EMSN CHF 867.00 CHF 284.63 −67% vs TPA
DSM-Firmenich AG DSFIR CHF 93.00 CHF 29.32 −68% vs TPA

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Thai Poly Acrylic Public Company Limited · Fair Value
1.56 THB −42%Fair Value
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Cite: Fair Value Calculator (2026). "Thai Poly Acrylic Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TPA

Frequently asked questions

Is Thai Poly Acrylic Public Company Limited (TPA) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 1.56 THB versus a price of 2.68 THB, about −42% upside (overvalued).
What is the fair value of TPA?
Our model-based fair value for Thai Poly Acrylic Public Company Limited is 1.56 THB (as of Oct 3, 2026), built from audited fundamentals. The current price: 2.68 THB.
What is the quality score of TPA?
Thai Poly Acrylic Public Company Limited has a Quality Score of 53/100. 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 price target for Thai Poly Acrylic Public Company Limited (TPA)?
Our model-based price target is the fair value of 1.56 THB (as of Oct 3, 2026) from 3 valuation models. Cautious scenario 1.46 THB, optimistic scenario 1.68 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Thai Poly Acrylic Public Company Limited stock forecast for 2026?
Our models put fair value at 1.56 THB, about −42% upside versus a price of 2.68 THB (overvalued). Cautious scenario 1.46 THB, optimistic scenario 1.68 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Thai Poly Acrylic Public Company Limited (TPA)?
Thai Poly Acrylic Public Company Limited reported trailing-twelve-month revenue of about 520M THB (latest available figure, as of Oct 3, 2026).
What is the intrinsic value of Thai Poly Acrylic Public Company Limited (TPA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thai Poly Acrylic Public Company Limited it is 1.56 THB per share (as of Oct 3, 2026), against a price of 2.68 THB. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Thai Poly Acrylic Public Company Limited stock overvalued or undervalued in 2026?
As of Oct 3, 2026, TPA trades above its calculated fair value: price 2.68 THB, fair value 1.56 THB, a gap of about −42% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TPA?
No. The price is what the market pays today (2.68 THB); the fair value is what the company's own numbers justify (1.56 THB). For Thai Poly Acrylic Public Company Limited the two are 1.12 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Thai Poly Acrylic Public Company Limited worth?
The market values Thai Poly Acrylic Public Company Limited at about 326M THB (market capitalisation, as of Oct 3, 2026). Per share that is 2.68 THB; our models calculate a fair value of 1.56 THB per share.
What do the bullish and bearish scenarios say about TPA?
Our models span a range for Thai Poly Acrylic Public Company Limited: cautious scenario 1.46 THB, base 1.56 THB, optimistic 1.68 THB per share (as of Oct 3, 2026, price 2.68 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TPA?
Thai Poly Acrylic Public Company Limited trades at a price-to-earnings ratio of 44.7 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.56 THB is built from several models across several years. Other multiples: PEG 0.2, P/B 0.9, P/S 0.6, EV/EBITDA 14.8.
What is the PEG ratio of TPA?
The PEG ratio of Thai Poly Acrylic Public Company Limited is 0.23 (P/E divided by earnings growth, as of Oct 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Thai Poly Acrylic Public Company Limited (TPA)?
Balance-sheet figures for Thai Poly Acrylic Public Company Limited (as of Oct 3, 2026): return on equity 1.7%, debt of 0.00 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is TPA from its 52-week high?
Thai Poly Acrylic Public Company Limited trades at 2.68 THB, about 4% below its 52-week high of 2.80 THB and 21% above the low of 2.22 THB (as of Oct 12, 2026). Distance from the high says nothing about value: that is what the fair value of 1.56 THB is for.
Which stocks are comparable to Thai Poly Acrylic Public Company Limited?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Thai Poly Acrylic Public Company Limited stock attractive at the current price?
The data as of Oct 3, 2026: price 2.68 THB, calculated fair value 1.56 THB (−42%), Quality Score 53/100, from 3 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TPA calculated?
We run Thai Poly Acrylic Public Company Limited through 3 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 1.56 THB, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.8 % above its aggregate fair value. Thai Poly Acrylic Public Company Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Thai Poly Acrylic Public Company Limited (TPA)?
The closing price on Oct 12, 2026 was 2.68 THB. Our model-based fair value is 1.56 THB, about −42% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Thai Poly Acrylic Public Company Limited right now?
The price sits above even our optimistic bull case (1.68 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 (53/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Thai Poly Acrylic Public Company Limited

How large is the market capitalisation of Thai Poly Acrylic Public Company Limited (TPA)?
The market capitalisation of Thai Poly Acrylic Public Company Limited is 326M THB (≈ $9.7M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Thai Poly Acrylic Public Company Limited (TPA)?
The price-to-sales ratio of Thai Poly Acrylic Public Company Limited is 0.61 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Thai Poly Acrylic Public Company Limited (TPA)?
Earnings per share at Thai Poly Acrylic Public Company Limited are 0.0600 THB (price ÷ EPS = P/E 44.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Thai Poly Acrylic Public Company Limited (TPA)?
The net margin of Thai Poly Acrylic Public Company Limited is −2.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Thai Poly Acrylic Public Company Limited (TPA)?
The return on equity (ROE) of Thai Poly Acrylic Public Company Limited is 1.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Thai Poly Acrylic Public Company Limited (TPA)?
On an EBIT basis the return on assets of Thai Poly Acrylic Public Company Limited is −1.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Thai Poly Acrylic Public Company Limited (TPA)?
The operating margin of Thai Poly Acrylic Public Company Limited is 1.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thai Poly Acrylic Public Company Limited (TPA)?
Revenue at Thai Poly Acrylic Public Company Limited is growing −28.3% versus a year earlier (3y avg −5.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Thai Poly Acrylic Public Company Limited (TPA)?
Earnings per share at Thai Poly Acrylic Public Company Limited are growing +617% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Thai Poly Acrylic Public Company Limited (TPA) generate?
The free cash flow of Thai Poly Acrylic Public Company Limited is −3.6M THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Thai Poly Acrylic Public Company Limited (TPA) hold?
Thai Poly Acrylic Public Company Limited holds more cash than debt, 66.8M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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