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Thai Steel Cable Public Company (TSC) Fair Value & Analysis

Consumer Cyclical · TH · Market cap 3.9B THB

TS Thai Steel Cable Public Company TSC · BK
Price15.30 THB
Fair Value19.64 THB
Upside+28.4%
Quality74/100
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Mixed Growth
Solidly profitable · 14.0% net margin
Low debt · generates free cash flow
7.95% dividend yield
Ranks above peers (11/14)
Wide moat 65/100
Evidence: High Range 14.14 THB – 27.64 THB Share as image

Fair value as of: Jul 12, 2026

From 24 valuation models · updated 29 days ago

Share price +1.3% over the past month.

A solid business, screening 28% undervalued on our models.

What matters now

  • The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (14.14 THB to 27.64 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

15.30 THB 7.02 THB Fair Value 19.64 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 7.02 THB – 15.30 THB · fair‑value band 14.14 THB – 27.64 THB · the 15.30 THB price screens below the 19.64 THB fair value. Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

Thai Steel Cable Public Company (TSC) currently trades at 15.30 THB, while our model-based Fair Value estimate is 19.64 THB, implying the stock looks roughly 28.4% undervalued today. The Quality Score stands at 74/100 (solid quality), in the Consumer Cyclical 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, Thai Steel Cable Public Company generated revenue of 2.5B THB at a net margin of 14.0%. Revenue declined 0.5% year over year. It earns a return on equity of 23.4%. The balance sheet holds a net cash position of 197M THB. Fundamentals as of Jul 12, 2026

Our scenario range runs from 14.14 THB (bear case) to 27.64 THB (bull case); at 15.30 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 1% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 28%, TSC screens cheaper 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.

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
Growth DCF 13.94 THB 17.99 THB 25.21 THB 80
Residual Income 7.84 THB 9.46 THB 22.09 THB 76
Rev-Margin DCF 10.30 THB 14.09 THB 18.96 THB 74
All 24 models by family
DCF Models
FCF DCF 13.46 THB 17.64 THB 25.75 THB 38
Owner Earnings 14.84 THB 19.47 THB 28.46 THB 31
5Y Revenue Exit 10.30 THB 13.79 THB 19.03 THB 39
5Y EBITDA Exit 13.23 THB 18.76 THB 26.33 THB 41
5Y P/E Exit 17.26 THB 25.61 THB 35.88 THB 38
10Y Revenue Exit 11.26 THB 14.34 THB 17.73 THB 36
10Y EBITDA Exit 13.22 THB 17.52 THB 22.27 THB 37
10Y P/E Exit 15.63 THB 21.89 THB 28.21 THB 35
Earnings-Based
Graham-Dodd 9.07 THB 14.21 THB 17.04 THB 54
EPV 10.68 THB 12.25 THB 13.60 THB 59
Dividend Discount
Gordon GGM 10.54 THB 12.39 THB 14.44 THB 70
DDM Multi-Stage 10.54 THB 13.70 THB 17.57 THB 61
Multiples
P/E Multiple 22.00 THB 29.34 THB 36.67 THB 63
P/S Multiple 8.72 THB 11.63 THB 14.53 THB 58
P/B Multiple 17.00 THB 22.67 THB 28.34 THB 55
EV/EBIT 17.13 THB 22.59 THB 28.05 THB 53
EV/EBITDA 15.06 THB 19.83 THB 24.60 THB 54
EV/Revenue 8.89 THB 12.38 THB 15.87 THB 43
Asset-Based
NCAV (Graham) 3.03 THB 4.06 THB 6.06 THB 50
Growth DCF
Growth DCF 13.94 THB 17.99 THB 25.21 THB 80
Rev-Margin DCF 10.30 THB 14.09 THB 18.96 THB 74
Economic Profit
Residual Income 7.84 THB 9.46 THB 22.09 THB 76
ROIC Compounder 10.80 THB 12.66 THB 14.64 THB 72
Growth Earnings
Growth-Adj P/E 15.51 THB 22.16 THB 28.80 THB 68

Widest divergence: Growth Earnings (22.16 THB) versus Asset-Based (4.06 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.5B THB
Revenue growth (YoY) -0.5%
Net margin 14.0%
Return on equity 23.4%
Free cash flow 347M THB FY2025
P/E ratio 10.7
More key figures
Operating margin 13.3%
EPS (TTM) 1.37 THB
Dividend yield 8.2%
EPS growth (YoY) +6.0%
Net cash 197M THB FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 73 · Market factors (momentum, volatility) 76

Profitability 72
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 82
Distance to the 52-week high (market factor)
Net Issuance 78
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.

About the company

Thai Steel Cable Public Company Limited manufactures and distributes automobile and motorcycle control cables, and automobile window regulators in Thailand.

Full company description

Thai Steel Cable Public Company Limited manufactures and distributes automobile and motorcycle control cables, and automobile window regulators in Thailand. It offers accelerator, door lock, fuel lid opener, hood release, key inter lock, manual parking release, parking brake, seat belt, transmission, and trunk opener cables; and motorcycle products comprising brake, clutch, seat lock, speed meter, tachometer, and throttle cables. The company serves automobile and motorcycle manufacturers, and spare parts centers. It also exports its products. The Company Limited was founded in 1978 and is headquartered in Chonburi, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Thai Steel Cable Public Company reported revenue of 2.5B THB in FY2025 versus 2.6B THB in FY2021, a compound −0.8%/yr. Reported net income was 346M THB in FY2025, compounding +9.9%/yr from FY2021.

Growth Quality 72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.5B THB
Latest YoY
−6.2%
Avg. 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.
−1.6%
Avg. 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.
+4.5%
Avg. growth/yr (21Y) 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.
+1.8%
Revenue −0.8%/yr
FY21 2.6B THB
FY22 2.6B THB
FY23 2.9B THB
FY24 2.7B THB
FY25 2.5B THB
Net income +9.9%/yr
FY21 237M THB
FY22 209M THB
FY23 279M THB
FY24 295M THB
FY25 346M THB
Character of growth · EPS growth decomposed (2014-2025) +9.4 % p.a.
Revenue per share −0.2 pp

of which total revenue −0.2 pp · buybacks/dilution +0.0 pp

EBIT margin +7.9 pp
Tax rate +0.2 pp
Residual (interest, one-offs) +1.6 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).

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Cite: Fair Value Calculator (2026). "Thai Steel Cable Public Company Fair Value". https://www.fairvalue-calculator.com/stock/TSC

Peer Group

Auto Parts · 642 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 74 · Top 25%
Fair Value upside +28% · Top 25%
Return on equity (TTM) 23% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 13% · Top 25%
Revenue growth -1% · Below median
Dividend yield (TTM) 8.0% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 11.0× · Cheaper than 75% of peers
P/B 2.49× · Pricier than median
P/S (TTM) 1.54× · Pricier than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 9.0× · Cheaper than median

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 71 · sector 16
FUTURE 0 · sector 23
PAST 93 · sector 26
HEALTH 100 · sector 95
DIVIDEND 100 · sector 30

Insider activity: 30/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Auto Parts stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Hyundai Mobis Co 012330 482,000 KRW 678,420 KRW +41%
Magna International Inc MGAN 1,122 MXN 1,172 MXN +4%
Samvardhana Motherson International Limited MOTHERSON ₹144.17 ₹80.63 -44%
Bosch Limited BOSCHLTD ₹41,110 ₹14,004 -66%
Bharat Forge Limited BHARATFORG ₹2,117 ₹441.74 -79%
Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
Schaeffler India Limited SCHAEFFLER ₹4,135 ₹1,412 -66%
Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
Sona BLW Precision Forgings Limited SONACOMS ₹792.00 ₹207.06 -74%

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Frequently asked questions

Is Thai Steel Cable Public Company (TSC) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 19.64 THB versus a price of 15.30 THB, about +28% (undervalued).
What is the fair value of TSC?
Our model-based fair value for Thai Steel Cable Public Company is 19.64 THB (as of Jul 12, 2026), built from audited fundamentals. The current price is 15.30 THB.
What is the quality score of TSC?
Thai Steel Cable Public Company has a Quality Score of 74/100. 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 Steel Cable Public Company (TSC)?
Thai Steel Cable Public Company reported trailing-twelve-month revenue of about 2.5B THB (latest available figure, as of Jul 12, 2026).
What is the net profit margin of TSC?
The net profit margin of Thai Steel Cable Public Company is about 14.0%, meaning it keeps roughly 14.0% of revenue as net income. Based on the latest reported figures.
Does Thai Steel Cable Public Company pay a dividend?
Thai Steel Cable Public Company currently shows a dividend yield of about 8.16% relative to its recent price (as of Jul 12, 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.

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