TTW Public Company (TTW) Fair Value & Analysis
Utilities · TH · Market cap 39.9B THB
Fair value as of: Jul 13, 2026
From 24 valuation models · updated 27 days ago
Share price +7.1% over the past month.
A solid business, but screening 20% overvalued on our models.
What matters now
- A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- A fairly wide model range (5.98 THB to 10.96 THB) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.
How to read this chart
60‑month range 6.63 THB – 10.60 THB · fair‑value band 5.98 THB – 10.96 THB · the 10.60 THB price screens above the 8.47 THB fair value. Dashed = 300-day average. As of Jul 13, 2026.
Analysis
TTW Public Company (TTW) currently trades at 10.60 THB, while our model-based Fair Value estimate is 8.47 THB, implying the stock looks roughly 20.1% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Utilities 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, TTW Public Company generated revenue of 5.3B THB at a net margin of 62.0%. Revenue grew 1.4% year over year. It earns a return on equity of 19.5%. Net debt stands at 6.0B THB. Fundamentals as of Jul 13, 2026
Our scenario range runs from 5.98 THB (bear case) to 10.96 THB (bull case); at 10.60 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 near its 52-week high and 33% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -10% fair-value upside, at -20%, TTW 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 24 models by family
Widest divergence: Growth Earnings (11.22 THB) versus Asset-Based (2.80 THB). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 69 · Market factors (momentum, volatility) 78
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
TTW Public Company Limited, together with its subsidiaries, engages in the production and sale of treated water in Thailand. The company supplies water to the Provincial Waterworks Authority in the Amphur Nakorn Chaisri, Amphur Sam Pran, and Amphur Budha Monthon areas of Nakhon Pathom; and Amphur Muang and Amphur Kratumban areas of Samut Sakhon.
Full company description
TTW Public Company Limited, together with its subsidiaries, engages in the production and sale of treated water in Thailand. The company supplies water to the Provincial Waterworks Authority in the Amphur Nakorn Chaisri, Amphur Sam Pran, and Amphur Budha Monthon areas of Nakhon Pathom; and Amphur Muang and Amphur Kratumban areas of Samut Sakhon. It also provides water treatment and maintenance services to Provincial Waterworks; manages wastewater treatment systems; and operates and maintains water supply projects. The company was formerly known as Thai Tap Water Supply Public Company Limited and changed its name to TTW Public Company Limited in March 2014. The company was incorporated in 2000 and is based in Sam Phran, Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
TTW Public Company reported revenue of 5.2B THB in FY2025 versus 5.8B THB in FY2021, a compound −2.5%/yr. Reported net income was 3.3B THB in FY2025, compounding +1.3%/yr from FY2021.
TTW screens 20% overvalued. Compare with American Water Works Company →
Peer Group
Utilities - Regulated Water · 67 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 Utilities - Regulated Water 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.
Insider activity: 40/100
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 Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| American Water Works Company AWK | $134.33 | $65.80 | -51% |
| SBSP3 SBSP3 | R$29.22 | R$31.23 | +7% |
| SBS SBS | $5.79 | $5.21 | -10% |
| Essential Utilities, Inc WTRG | $38.59 | $21.81 | -43% |
| CSMG3 CSMG3 | R$66.10 | R$60.17 | -9% |
| Grandblue Environment Co 600323 | ¥29.42 | ¥33.29 | +13% |
| American States Water Company AWR | $85.01 | $48.02 | -44% |
| Chengdu Xingrong Environment Co 000598 | ¥6.97 | ¥10.74 | +54% |
| California Water Service Group CWT | $49.73 | $33.56 | -33% |
| Chongqing Water Group 601158 | ¥4.12 | ¥2.77 | -33% |
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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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