Thai Plastic Industrial (1994) Public Company (TPLAS) Fair Value & Analysis
Consumer Cyclical · TH · Market cap 297M THB
Fair value as of: Jul 14, 2026
From 22 valuation models · updated 27 days ago
Fair value updated Jul 14, 2026, revised from 0.4300 THB to 0.4000 THB (−7.0%) since Jun 24, 2026. Share price +5.5% over the past month.
A solid business, but screening 66% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (0.5000 THB). The favourable scenario is already priced in.
- Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.
How to read this chart
60‑month range 0.7717 THB – 4.89 THB · fair‑value band 0.3300 THB – 0.5000 THB · the 1.16 THB price screens above the 0.4000 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.
Analysis
Thai Plastic Industrial (1994) Public Company (TPLAS) currently trades at 1.16 THB, while our model-based Fair Value estimate is 0.4000 THB, implying the stock looks roughly 65.5% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Consumer Cyclical 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, Thai Plastic Industrial (1994) Public Company generated revenue of 461M THB at a net margin of 3.3%. Revenue grew 8.0% year over year. It earns a return on equity of 4.7%. The balance sheet holds a net cash position of 48.7M THB. Fundamentals as of Jul 14, 2026
Our scenario range runs from 0.3300 THB (bear case) to 0.5000 THB (bull case); at 1.16 THB, 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 10% below its 52-week high and 52% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -22% fair-value upside, at -66%, TPLAS 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.
All 22 models by family
Widest divergence: Asset-Based (0.7800 THB) versus Earnings-Based (0.2400 THB). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 70
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 Plastic Industrial (1994) Public Company Limited manufactures and sells food plastic bags, food plastic wrappers, and food paper containers in Thailand.
Full company description
Thai Plastic Industrial (1994) Public Company Limited manufactures and sells food plastic bags, food plastic wrappers, and food paper containers in Thailand. The company offers high-density polyethylene, poly-propylene, thin and thick T-shirt bag, LL T-shirt bag, PP T-shirt bag, LL beverage bag, flexible straws under the Makrook brand name; LDPE clear cold storage bags; food and bowl food containers beat box; PP bag side folding type; and poly-vinyi chloride food wrapping films under the Vow Wrap brand name. Thai Plastic Industrial (1994) Public Company Limited was incorporated in 1994 and is headquartered in Nonthaburi, Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Thai Plastic Industrial (1994) Public Company reported revenue of 451M THB in FY2025 versus 506M THB in FY2021, a compound −2.8%/yr. Reported net income was 8.0M THB in FY2025, compounding −30.4%/yr from FY2021.
of which total revenue +0.1 pp · buybacks/dilution +0.0 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
TPLAS screens 66% overvalued. Compare with Stora Enso Oyj →
Peer Group
Packaging & Containers · 272 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.
Valuation Multiples vs Packaging & Containers median · lower = cheaper
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 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Stora Enso Oyj STER | kr 101.90 | kr 126.39 | +24% |
| ShenZhen YUTO Packaging Technology Co 002831 | ¥29.10 | ¥20.88 | -28% |
| SCG Packaging Public Company SCGP | 29.00 THB | 16.12 THB | -44% |
| AblePrint Technology Co 7734 | 2,850 TWD | 661.69 TWD | -77% |
| PT Fajar Surya Wisesa Tbk, FASW | 5,312 IDR | 1,194 IDR | -78% |
| Taiwan Hon Chuan Enterprise Co 9939 | 132.50 TWD | 127.06 TWD | -4% |
| Time Technoplast Limited TIMETECHNO | ₹206.82 | ₹161.42 | -22% |
| EPL Limited 500135 | ₹222.25 | ₹111.65 | -50% |
| Ton Yi Industrial Corp 9907 | 15.15 TWD | 23.17 TWD | +53% |
| Dongwon Systems Corporation 014820 | 19,330 KRW | 31,473 KRW | +63% |
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Frequently asked questions
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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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