Utility Business Alliance PCL (UBA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Utility Business Alliance PCL stock THB 1.67, price THB 1.24, upside +34.7%, quality 70 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
47‑month range 0.5946 THB – 1.81 THB · fair‑value band 1.34 THB – 2.18 THB · the 1.24 THB price screens below the 1.67 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Utility Business Alliance Public Company Limited provides technical engineering and other related services in Thailand. The company undertakes the contracts for wastewater treatment system operation, which includes wastewater treatment system maintenance services.
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It also offers integrated operation and maintenance services, including startup and commissioning, water system operation and management, maintenance, and troubleshooting services.
In addition, the company provides engineering services and equipment procurement, such as design and consulting, procurement and installation for machinery and equipment, and construction services.
Utility Business Alliance Public Company Limited was founded in 2000 and is headquartered in Bangkok, Thailand.
Stock analysis
Utility Business Alliance PCL (UBA) currently trades at 1.24 THB, while our model-based Fair Value estimate is 1.67 THB, implying the stock looks roughly 26% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 2.27 THB per share, and 19 of the 24 models we run sit above the 1.24 THB price.
Bear case: the Asset-Based group reads lowest at 0.9200 THB, and 5 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 1.34 THB (bear) to 2.18 THB (bull), the price of 1.24 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 70/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Utility Business Alliance PCL reported revenue of 428M THB in FY2025 versus 530M THB in FY2021, a compound −5.2%/yr. Reported net income was 63.2M THB in FY2025, compounding +4.8%/yr from FY2021.
Key figures
Market cap 744M THB (≈ $22.2M) Micro · P/E ratio 9.5 · P/S ratio 1.44 · EPS (TTM) 0.1300 THB · Dividend yield 7.9% · Net margin 15.9% · Return on equity 13.3% · Return on assets (EBIT) 11.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 57% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −25% fair-value upside, at 35%, UBA screens cheaper than that median.
Fair Value models
Bear1.34 THBFair Value 1.67 THBBull2.18 THB
Price 1.24 THB · Upside +34.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.0274 THB per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−23.8%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−13.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.2%
Start year 2020 (pandemic)
Revenue growth 7 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−2.9%
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What shareholders gained per year (last 5 years), in THB ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−51.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−59.0%
Dividend (yield on the price)7.9%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.12% → 17%
⚠ Revenue per share shrinking 33.1%/yr over ~5Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−2.1%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about −3.2% a year for the price.
Compare Utility Business Alliance PCL with another stock
Price, fair value, quality and upside side by side.
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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.Waste Management · 155 stocks
Beats the industry median on 14/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+34.7% · Above median
Profitability
Return on equity (12 months)13.3% · Top 25%
Return on assets8.6% · Top 25%
Net margin (12 months)15.9% · Top 25%
Operating margin (12 months)19.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)44.2% · Top 25%
Dividend yield (12 months)7.9% · Top 25%
Balance sheet
Debt / equity0.06× · Lowest 25%
Valuation Multiplesvs Waste Management median · lower = cheaper
P/E (12 months)9.5× · Cheapest 25%
P/B1.15× · Cheaper than median
P/S (12 months)1.44× · Cheaper than median
Price / free cash flow (fiscal year)15.1× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Utility Business Alliance PCL Fair Value". https://www.fairvalue-calculator.com/stock/UBA
Frequently asked questions
Is Utility Business Alliance PCL (UBA) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 1.67 THB versus a price of 1.24 THB, about +35% upside (undervalued).
What is the fair value of UBA?
Our model-based fair value for Utility Business Alliance PCL is 1.67 THB (as of Nov 3, 2026), built from audited fundamentals. The current price: 1.24 THB.
What is the quality score of UBA?
Utility Business Alliance PCL has a Quality Score of 70/100. 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 price target for Utility Business Alliance PCL (UBA)?
Our model-based price target is the fair value of 1.67 THB (as of Nov 3, 2026) from 24 valuation models. Cautious scenario 1.34 THB, optimistic scenario 2.18 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Utility Business Alliance PCL stock forecast for 2026?
Our models put fair value at 1.67 THB, about +35% upside versus a price of 1.24 THB (undervalued). Cautious scenario 1.34 THB, optimistic scenario 2.18 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Utility Business Alliance PCL (UBA)?
Utility Business Alliance PCL reported trailing-twelve-month revenue of about 518M THB (latest available figure, as of Nov 3, 2026).
Does Utility Business Alliance PCL pay a dividend?
Utility Business Alliance PCL currently shows a dividend yield of 7.90% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Utility Business Alliance PCL (UBA) and when is the ex-dividend date?
Utility Business Alliance PCL pays a dividend of 0.098 THB per share a year, a dividend yield of 7.9%. The last ex-dividend date was May 5, 2026. The payout ratio is 75.4% of earnings. Free cash flow covers the dividend 0.84 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Utility Business Alliance PCL (UBA)?
For today's price to be fair in a discounted-cash-flow model, Utility Business Alliance PCL would have to grow free cash flow by -2.1 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -4.2 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of UBA use?
Our models discount Utility Business Alliance PCL at 10.1 %: a base by market capitalisation (nano), damped by beta 0.21, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Utility Business Alliance PCL that is -2.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Utility Business Alliance PCL (UBA) delivered so far?
Over the past 5 years revenue at Utility Business Alliance PCL grew -4.2 % a year. The price currently implies free-cash-flow growth of -2.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Utility Business Alliance PCL (UBA) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Utility Business Alliance PCL (-2.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Utility Business Alliance PCL (UBA)?
The free-cash-flow yield on the price is 6.63 %: that much free cash flow Utility Business Alliance PCL produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Utility Business Alliance PCL (UBA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Utility Business Alliance PCL it is 1.67 THB per share (as of Nov 3, 2026), against a price of 1.24 THB. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Utility Business Alliance PCL stock overvalued or undervalued in 2026?
As of Nov 3, 2026, UBA trades below its calculated fair value: price 1.24 THB, fair value 1.67 THB, a gap of about +35% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of UBA?
No. The price is what the market pays today (1.24 THB); the fair value is what the company's own numbers justify (1.67 THB). For Utility Business Alliance PCL the two are 0.4300 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Utility Business Alliance PCL worth?
The market values Utility Business Alliance PCL at about 744M THB (market capitalisation, as of Nov 3, 2026). Per share that is 1.24 THB; our models calculate a fair value of 1.67 THB per share.
What do the bullish and bearish scenarios say about UBA?
Our models span a range for Utility Business Alliance PCL: cautious scenario 1.34 THB, base 1.67 THB, optimistic 2.18 THB per share (as of Nov 3, 2026, price 1.24 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of UBA?
Utility Business Alliance PCL trades at a price-to-earnings ratio of 9.5 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.67 THB is built from several models across several years. Other multiples: P/B 1.2, P/S 1.4, EV/EBITDA 3.7.
How solid is the balance sheet of Utility Business Alliance PCL (UBA)?
Balance-sheet figures for Utility Business Alliance PCL (as of Nov 3, 2026): return on equity 13.3%, debt of 0.06 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is UBA from its 52-week high?
Utility Business Alliance PCL trades at 1.24 THB, about 17% below its 52-week high of 1.49 THB and 57% above the low of 0.7886 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1.67 THB is for.
Which stocks are comparable to Utility Business Alliance PCL?
From the same area (Industrials) we also value Waste Management, Inc, Republic Services, Inc, Waste Connections, Inc, Veolia Environnement SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Utility Business Alliance PCL stock attractive at the current price?
The data as of Nov 3, 2026: price 1.24 THB, calculated fair value 1.67 THB (+35%), Quality Score 70/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of UBA calculated?
We run Utility Business Alliance PCL through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 1.67 THB builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Utility Business Alliance PCL currently trades 26% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Utility Business Alliance PCL (UBA)?
The closing price on Nov 6, 2026 was 1.24 THB. Our model-based fair value is 1.67 THB, about +35% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Utility Business Alliance PCL right now?
The price is below even our cautious bear case (1.34 THB). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (70/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Utility Business Alliance PCL
How large is the market capitalisation of Utility Business Alliance PCL (UBA)?
The market capitalisation of Utility Business Alliance PCL is 744M THB (≈ $22.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Utility Business Alliance PCL (UBA)?
The price-to-sales ratio of Utility Business Alliance PCL is 1.44 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Utility Business Alliance PCL (UBA)?
Earnings per share at Utility Business Alliance PCL are 0.1300 THB (price ÷ EPS = P/E 9.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Utility Business Alliance PCL (UBA)?
The dividend yield of Utility Business Alliance PCL is 7.9% (payout 75.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Utility Business Alliance PCL (UBA)?
The net margin of Utility Business Alliance PCL is 15.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Utility Business Alliance PCL (UBA)?
The return on equity (ROE) of Utility Business Alliance PCL is 13.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Utility Business Alliance PCL (UBA)?
On an EBIT basis the return on assets of Utility Business Alliance PCL is 11.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Utility Business Alliance PCL (UBA)?
The operating margin of Utility Business Alliance PCL is 19.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Utility Business Alliance PCL (UBA)?
Revenue at Utility Business Alliance PCL is growing +44.2% versus a year earlier (3y avg −13.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Utility Business Alliance PCL (UBA)?
Earnings per share at Utility Business Alliance PCL are growing +103% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Utility Business Alliance PCL (UBA) hold?
Utility Business Alliance PCL holds more cash than debt, 396M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 3, 2026