Thoresen Thai Agencies Public Company Limited (TTA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Thoresen Thai Agencies Public Company Limited THB 11.20, price THB 5.45, upside +105.5%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Thoresen Thai Agencies Public Company Limited
TTA · BKCheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 3.27 THB – 15.83 THB · fair‑value band 7.77 THB – 14.00 THB · the 5.45 THB price screens below the 11.20 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 Sep 24, 2026.
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Company profile
Thoresen Thai Agencies Public Company Limited, together with its subsidiaries, operates as a shipping company in Asia, Africa, the United States, Europe, and Oceania. The company operates through five segments: Shipping, Offshore Service, Agrochemical, Food and Beverage, and Investment.
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Thoresen Thai Agencies Public Company Limited, together with its subsidiaries, operates as a shipping company in Asia, Africa, the United States, Europe, and Oceania. The company operates through five segments: Shipping, Offshore Service, Agrochemical, Food and Beverage, and Investment. It owns dry bulk vessels and provides shipping services, such as hauling a range of dry and break-bulk commodities, which include mineral ore, coal, agriculture products, construction materials, and steel products. The company also provides offshore services, including subsea engineering to the oil and gas industry; and produces and markets NPK compounds, bulk blending products, and fertilizers under the Stork brand for customers' needs for coffee, rice, rubber, vegetables, and various other crops. In addition, it offers port operations business, third party logistics services, coal and logistics business, and petroleum tankering business services. Further, it provides installation and decommissioning, ship management, international maritime transportation, exploration drilling, and aircraft charter services. Additionally, the company provides diving; ROV; subsea and hydrographic survey; ship supplies and stevedoring, logistics, and transportation; and port services, as well as operates and franchises Pizza Hut and Taco Bell restaurants. it also offers management and software consultancy, boat conveyance, road transport, wood pellet trading, electric and biomass energy, general and coal trading, ship agency, water management and pipeline installation and repairment, treated water, real estate, water supply, drinking and wastewater, floating storage, offloading, cargo lashing materials, warehousing, industrial machinery and equipment installation services, and air transportation services for passengers and goods, as well as imports and distributes EV trucks and motorcycles. The company was founded in 1904 and is based in Bangkok, Thailand.
Stock analysis
Thoresen Thai Agencies Public Company Limited (TTA) currently trades at 5.45 THB, while our model-based Fair Value estimate is 11.20 THB, implying the stock looks roughly 51.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 17.50 THB per share, and 11 of the 13 models we run sit above the 5.45 THB price.
Bear case: the Dividend Discount group reads lowest at 2.32 THB, and 2 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: 7.77 THB (bear) to 14.00 THB (bull), the price of 5.45 THB sits below 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 49/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Thoresen Thai Agencies Public Company Limited reported revenue of 29.9B THB in FY2025 versus 22.1B THB in FY2021, a compound +7.8%/yr. Reported net income was 1.5B THB in FY2025, compounding −20.8%/yr from FY2021.
Key figures
Market cap 9.9B THB (≈ $297M) · P/E ratio 11.6 · P/S ratio 0.59 · EPS (TTM) 0.4700 THB · Dividend yield 4.5% · Net margin 5.1% · Return on equity 2.9% · Return on assets (EBIT) 5.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 41% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 16% fair-value upside, at 106%, TTA screens cheaper than that median.
Fair Value models
All 13 models by family
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Set up alert →Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 70
Revenue & earnings trend
Growth Forecast
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Compare Thoresen Thai Agencies Public Company Limited with another stock
Price, fair value, quality and upside side by side.
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.Conglomerates · 377 stocks
Valuation Multiplesvs Conglomerates median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Valuation of the Thailand market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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Key figures of Thoresen Thai Agencies Public Company Limited
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