Utility Business Alliance PCL (UBA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Utility Business Alliance PCL THB 1.67, price THB 1.37, upside +21.9%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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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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. 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 1.37 THB, while our model-based Fair Value estimate is 1.67 THB, implying the stock looks roughly 18.0% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 1.88 THB per share, and 19 of the 24 models we run sit above the 1.37 THB price.
Bear case: the Asset-Based group reads lowest at 0.7200 THB, and 5 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 1.34 THB (bear) to 2.18 THB (bull), the price of 1.37 THB sits inside 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 63/100 (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 822M THB (≈ $24.7M) · P/E ratio 10.5 · P/S ratio 1.56 · EPS (TTM) 0.1300 THB · Dividend yield 7.2% · Net margin 14.8% · Return on equity 10.8% · Return on assets (EBIT) 11.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 74% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −18% fair-value upside, at 22%, UBA screens cheaper than that median.
Fair Value models
Bear 1.34 THBFair Value 1.67 THBBull 2.18 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0235 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.Evidence ⓘEvidence = 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.
−51.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−59.0%
Dividend (yield on the price)7.2%
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
A lot of optimism in the price
The price assumes more growth than 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).
+0.6%
Yearly growth needed for the next five years to justify today's price.
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 −0.6% 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 · 168 stocks
Beats the industry median on 13/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+23% · Above median
Profitability
Return on equity (TTM)11% · Above median
Return on assets8% · Top 25%
Net margin (TTM)15% · Top 25%
Operating margin (TTM)18% · Above median
Growth and dividend
Revenue growth53% · Top 25%
Dividend yield (TTM)7.2% · Top 25%
Balance sheet
Debt / equity0.06× · Lowest 25%
Valuation Multiplesvs Waste Management median · lower = cheaper
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 Sep 24, 2026, our model estimates a fair value of 1.67 THB versus a price of 1.37 THB, about +22% 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 Sep 24, 2026), built from audited fundamentals. The current price: 1.37 THB.
What is the quality score of UBA?
Utility Business Alliance PCL has a Quality Score of 63/100. 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 Sep 24, 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 +22% upside versus a price of 1.37 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 476M THB (latest available figure, as of Sep 24, 2026).
Does Utility Business Alliance PCL pay a dividend?
Utility Business Alliance PCL currently shows a dividend yield of about 7.15% relative to its recent price (as of Sep 24, 2026).
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 +0.6 % 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 Sep 24, 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 0.26, 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 +0.6 % per year a year over ten years, 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 +0.6 % per year free-cash-flow growth a 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 +4.6 % a year. That is the yardstick for the growth priced into Utility Business Alliance PCL (+0.6 % per year a 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 6.00 %: 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 Sep 24, 2026), against a price of 1.37 THB. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Utility Business Alliance PCL stock overvalued or undervalued in 2026?
As of Sep 24, 2026, UBA trades below its calculated fair value: price 1.37 THB, fair value 1.67 THB, a gap of about +22% (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 (1.37 THB); the fair value is what the company's own numbers justify (1.67 THB). For Utility Business Alliance PCL the two are 0.3000 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 822M THB (market capitalisation, as of Sep 24, 2026). Per share that is 1.37 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 Sep 24, 2026, price 1.37 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 10.5 (as of Sep 24, 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 1.3, P/S 1.7, EV/EBITDA 5.0.
How solid is the balance sheet of Utility Business Alliance PCL (UBA)?
Balance-sheet figures for Utility Business Alliance PCL (as of Sep 24, 2026): return on equity 10.8%, debt of 0.06 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is UBA from its 52-week high?
Utility Business Alliance PCL trades at 1.37 THB, about 8% below its 52-week high of 1.49 THB and 74% above the low of 0.7886 THB (as of Sep 24, 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 Sep 24, 2026: price 1.37 THB, calculated fair value 1.67 THB (+22%), Quality Score 63/100, 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 four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 1.67 THB, 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 13.0 % above its aggregate fair value. Utility Business Alliance PCL currently trades 22 % 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 Sep 24, 2026 was 1.37 THB. Our model-based fair value is 1.67 THB, about +22% 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?
Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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 822M THB (≈ $24.7M). 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 1.56 (P/E × margin). 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 10.5). 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 7.2% (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 14.8% (fiscal year 2025). 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 10.8% (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 17.6% (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 +53.2% 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 +95.2% 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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