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Thai Rubber Latex Group Public Company Limited (TRUBB) Fair Value & Analysis

Basic Materials · TH · Market cap 899M THB (≈ $27.0M) · ISIN TH0249010Y04

What is Thai Rubber Latex Group Public Company Limited really worth?

TR Thai Rubber Latex Group Public Company Limited TRUBB · BK
Price1.06 THB
Fair Value0.8343 THB
Upside−21.3%
Quality50/100

A solid business, but trading 27% above our fair value of 0.8343 THB.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −1.5 %/yr)
!Loss-making · -3.6% net margin
!Trails peers (4/12)
!Narrow moat 16/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 4 out of 100
!Weak on dividend: 6 out of 100

For context

·0.28% dividend yield
Evidence: Low Range 0.4314 THB – 1.24 THB

Fair value as of: Aug 21, 2026

From 11 valuation models · updated 12 days ago

Fair value updated Aug 21, 2026, revised from 0.8402 THB to 0.8343 THB (−0.7%) since Aug 13, 2026. Share price +1.0% over the past month.

What runs behind every stock

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

What matters now

  • The model range is unusually wide (0.4314 THB to 1.24 THB). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

3.22 THB 0.4560 THB Fair Value 0.8343 THB Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range 0.4560 THB – 3.22 THB · fair‑value band 0.4314 THB – 1.24 THB · the 1.06 THB price screens above the 0.8343 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Thai Rubber Latex Group Public Company Limited (TRUBB) currently trades at 1.06 THB, while our model-based Fair Value estimate is 0.8343 THB, implying the stock looks roughly 27.0% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of 5.93 THB per share, and 10 of the 11 models we run sit above the 1.06 THB price. Bear case: the Asset-Based group reads lowest at 2.26 THB, and 1 of the 11 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Thai Rubber Latex Group Public Company Limited generated revenue of 5.8B THB at a net margin of −3.6%. Revenue declined 23.3% year over year. It earns a return on equity of −7.3%. Net debt stands at 3.6B THB. Fundamentals as of Aug 21, 2026

Our scenario range runs from 0.4314 THB (bear case) to 1.24 THB (bull case); at 1.06 THB, the current price sits within 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 24% below its 52-week high and 132% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −58% fair-value upside, at −21%, TRUBB screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF best evidence 6.98 THB 9.26 THB 13.09 THB 81
Growth DCF 7.22 THB 9.38 THB 12.74 THB 79
5Y EBITDA Exit 3.79 THB 4.78 THB 6.08 THB 77
All 11 models by family
DCF Models
FCF DCF best evidence 6.98 THB 9.26 THB 13.09 THB 81
Owner Earnings 0.0100 THB 0.1900 THB 0.4700 THB 66
5Y Revenue Exit 6.83 THB 10.03 THB 14.68 THB 72
5Y EBITDA Exit 3.79 THB 4.78 THB 6.08 THB 77
10Y Revenue Exit 6.67 THB 8.90 THB 11.26 THB 68
10Y EBITDA Exit 5.16 THB 5.93 THB 6.65 THB 70
Multiples
EV/EBITDA 1.62 THB 2.34 THB 3.06 THB 67
EV/Revenue 7.37 THB 10.77 THB 14.16 THB 53
Asset-Based
NCAV (Graham) 1.68 THB 2.26 THB 3.37 THB 54
Growth DCF
Growth DCF 7.22 THB 9.38 THB 12.74 THB 79
Rev-Margin DCF 6.83 THB 10.23 THB 14.41 THB 73

Widest divergence: Growth DCF (9.38 THB) versus Asset-Based (2.26 THB). Highest evidence: FCF DCF (81).

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Key figures & financial health

P/S ratio 0.15 TTM
EPS (TTM) −0.2500 THB
Dividend yield 0.3%
Net margin −2.8% FY2025
Return on equity −7.3% TTM
Return on assets (EBIT) 2.1% avg 5y
More key figures
Profitability
Operating margin −1.0% TTM
Growth
Revenue (TTM) 5.8B THB TTM
Revenue growth (YoY) −24.0% 3y avg −11.8%
EPS growth (YoY) −68.4%
Balance sheet & cash flow
Free cash flow 779M THB FY2025
Net debt 3.6B THB FY2025 · ≈ 4.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 49 · Market factors (momentum, volatility) 73

Profitability 15
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 22
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 84
Price trend over the last 3–12 months (market factor)
52W Momentum 82
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Thai Rubber Latex Group Public Company Limited produces and distributes concentrated latex and other latex products in Thailand, the People's Republic of China, Hong Kong, Pakistan, Malaysia, the Republic of Korea, and internationally. The company operates through Concentrated and Prevulcanised Latex; Latex Products; and Plantations segments.

Full company description

Thai Rubber Latex Group Public Company Limited produces and distributes concentrated latex and other latex products in Thailand, the People's Republic of China, Hong Kong, Pakistan, Malaysia, the Republic of Korea, and internationally. The company operates through Concentrated and Prevulcanised Latex; Latex Products; and Plantations segments. It offers concentrated and pre vulcanized latex products; skim rubber products, such as skim blocks and crepe rubber; modified natural rubber; and natural rubber latex for use in gloves, foam products, and latex threads applications. The company also engages in the planting of hemp. Thai Rubber Latex Group Public Company Limited was formerly known as Thai Rubber Latex Corporation (Thailand) Public Company Limited and changed its name to Thai Rubber Latex Group Public Company Limited in July 2019. The company was incorporated in 1985 and is based in Samut Prakan, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Thai Rubber Latex Group Public Company Limited reported revenue of 6.3B THB in FY2025 versus 9.3B THB in FY2021, a compound −9.2%/yr. Reported net income was −178M THB in FY2025.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
6.3B THB
Latest YoY
−17.1%
Avg. revenue 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.
−11.8%
Avg. revenue 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.
−1.5%
Avg. revenue growth/yr (19Y) 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.
−1.0%
Value creation/yr 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
Revenue −9.2%/yr
FY21 9.3B THB
FY22 9.2B THB
FY23 6.6B THB
FY24 7.6B THB
FY25 6.3B THB
Net income
FY21 607M THB
FY22 261M THB
FY23 −362M THB
FY24 −220M THB
FY25 −178M THB

TRUBB screens 27% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Thai Rubber Latex Group Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TRUBB

Peer Group

Specialty Chemicals · 717 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 50 · Below median
Fair Value upside −22% · Above median
Return on assets −1% · Bottom 25%
Net margin (TTM) −4% · Bottom 25%
Operating margin (TTM) −1% · Bottom 25%
Revenue growth −24% · Bottom 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.22× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 2.1× · Cheaper than 75% of peers
PEG 1.39× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE4 · sector 0
FUTURE0 · sector 20
PAST0 · sector 23
HEALTH89 · sector 95
DIVIDEND6 · sector 29

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

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Frequently asked questions

Is Thai Rubber Latex Group Public Company Limited (TRUBB) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of 0.8343 THB versus a price of 1.06 THB, about −21% upside (overvalued).
What is the fair value of TRUBB?
Our model-based fair value for Thai Rubber Latex Group Public Company Limited is 0.8343 THB (as of Aug 21, 2026), built from audited fundamentals. The current price: 1.06 THB.
What is the quality score of TRUBB?
Thai Rubber Latex Group Public Company Limited has a Quality Score of 50/100. 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 Rubber Latex Group Public Company Limited (TRUBB)?
Thai Rubber Latex Group Public Company Limited reported trailing-twelve-month revenue of about 5.8B THB (latest available figure, as of Aug 21, 2026).
What is the net profit margin of TRUBB?
The net profit margin of Thai Rubber Latex Group Public Company Limited is about −3.6%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Thai Rubber Latex Group Public Company Limited pay a dividend?
Thai Rubber Latex Group Public Company Limited currently shows a dividend yield of about 0.28% relative to its recent price (as of Aug 21, 2026).
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