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Vintcom Technology Public Company (VCOM) Fair Value & Analysis

Technology · TH · Market cap 1.2B THB

VT Vintcom Technology Public Company VCOM · BK
Price4.02 THB
Fair Value8.47 THB
Upside+110.7%
Quality75/100
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Mixed Growth
Thin margins · 6.8% net margin
Low debt · generates free cash flow
9.30% dividend yield
Ranks above peers (11/14)
Moderate moat 53/100
Evidence: Medium Range 6.35 THB – 10.59 THB Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 29 days ago

Share price +1.0% over the past month.

A strong business, screening 111% undervalued on our models.

What matters now

  • The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (6.35 THB). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

5.75 THB 1.87 THB Fair Value 8.47 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 1.87 THB – 5.75 THB · fair‑value band 6.35 THB – 10.59 THB · the 4.02 THB price screens below the 8.47 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

Vintcom Technology Public Company (VCOM) currently trades at 4.02 THB, while our model-based Fair Value estimate is 8.47 THB, implying the stock looks roughly 110.7% undervalued today. The Quality Score stands at 75/100 (high quality), in the Technology 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: medium), always confirm before acting.

Over the trailing twelve months, Vintcom Technology Public Company generated revenue of 2.0B THB at a net margin of 6.8%. Revenue declined 14.3% year over year. It earns a return on equity of 24.0%. The balance sheet holds a net cash position of 222M THB. Fundamentals as of Jul 12, 2026

Our scenario range runs from 6.35 THB (bear case) to 10.59 THB (bull case); at 4.02 THB, the current price sits below 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 90% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -33% fair-value upside, at 111%, VCOM 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 5.67 THB 7.58 THB 10.01 THB 80
Residual Income 2.29 THB 2.81 THB 6.01 THB 76
Rev-Margin DCF 6.03 THB 9.13 THB 12.75 THB 74
All 26 models by family
DCF Models
FCF DCF 5.66 THB 7.89 THB 10.93 THB 38
Owner Earnings 5.50 THB 7.66 THB 10.60 THB 31
5Y Revenue Exit 6.03 THB 9.14 THB 13.12 THB 39
5Y EBITDA Exit 6.41 THB 9.86 THB 13.90 THB 41
5Y P/E Exit 6.25 THB 9.55 THB 13.05 THB 38
10Y Revenue Exit 5.67 THB 8.32 THB 11.93 THB 36
10Y EBITDA Exit 6.04 THB 8.78 THB 12.48 THB 37
10Y P/E Exit 5.95 THB 8.59 THB 11.88 THB 35
Earnings-Based
Graham-Dodd 2.88 THB 9.68 THB 12.96 THB 54
Lynch FV 2.20 THB 3.15 THB 4.09 THB 50
PEG = 1.0 2.20 THB 3.15 THB 4.09 THB 46
EPV 4.79 THB 5.31 THB 5.74 THB 59
Dividend Discount
Gordon GGM 2.49 THB 4.48 THB 6.17 THB 70
DDM Multi-Stage 2.49 THB 4.00 THB 4.79 THB 61
Multiples
P/E Multiple 6.35 THB 8.47 THB 10.59 THB 63
P/S Multiple 5.40 THB 7.20 THB 9.00 THB 58
P/B Multiple 4.37 THB 5.83 THB 7.28 THB 55
EV/EBIT 9.23 THB 11.97 THB 14.72 THB 53
EV/EBITDA 7.65 THB 9.87 THB 12.08 THB 54
EV/Revenue 6.55 THB 8.92 THB 11.30 THB 43
Asset-Based
NCAV (Graham) 0.9700 THB 1.30 THB 1.94 THB 50
Growth DCF
Growth DCF 5.67 THB 7.58 THB 10.01 THB 80
Rev-Margin DCF 6.03 THB 9.13 THB 12.75 THB 74
Economic Profit
Residual Income 2.29 THB 2.81 THB 6.01 THB 76
ROIC Compounder 4.97 THB 5.73 THB 6.49 THB 72
Growth Earnings
Growth-Adj P/E 5.43 THB 7.76 THB 10.08 THB 68

Widest divergence: DCF Models (8.59 THB) versus Asset-Based (1.30 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.0B THB
Revenue growth (YoY) -14.3%
Net margin 6.8%
Return on equity 24.0%
Free cash flow 149M THB FY2025
P/E ratio 9.3
More key figures
Operating margin 10.5%
EPS (TTM) 0.4300 THB
Dividend yield 9.3%
EPS growth (YoY) +7.6%
Net cash 222M THB FY2025

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

Quality Score breakdown

Overall quality 75/100

Of which business quality 74 · Market factors (momentum, volatility) 91

Profitability 65
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 87
Price trend over the last 3–12 months (market factor)
52W Momentum 97
Distance to the 52-week high (market factor)
Net Issuance 82
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

Vintcom Technology Public Company Limited, together with its subsidiaries, trades in computer and equipment in Thailand, Myanmar, Cambodia, and internationally. The company operates in two segments, Sale of Goods and Rendering of Services.

Full company description

Vintcom Technology Public Company Limited, together with its subsidiaries, trades in computer and equipment in Thailand, Myanmar, Cambodia, and internationally. The company operates in two segments, Sale of Goods and Rendering of Services. It provides a range of IT solutions and services, including servers, storage units, engineered systems or converged infrastructure solutions, network security, networking devices, database systems, operating systems, virtualization systems, middleware, software development tools, and database management software for data integration, big data management, cloud data management, and data quality and security. The company also offers installation, consulting, and computer system maintenance service; trading computer and equipment including related software; and computer and network security monitoring services. The company was incorporated in 1992 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vintcom Technology Public Company reported revenue of 2.1B THB in FY2025 versus 1.9B THB in FY2021, a compound +2.6%/yr. Reported net income was 130M THB in FY2025, compounding +0.7%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.1B THB
Latest YoY
+24.5%
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.
+0.7%
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.
−2.1%
Avg. growth/yr (12Y) 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.
+8.9%
Revenue +2.6%/yr
FY21 1.9B THB
FY22 2.0B THB
FY23 2.1B THB
FY24 1.7B THB
FY25 2.1B THB
Net income +0.7%/yr
FY21 127M THB
FY22 112M THB
FY23 88.4M THB
FY24 87.7M THB
FY25 130M THB
Character of growth · EPS growth decomposed (2014-2025) +6.7 % p.a.
Revenue per share +5.8 pp

of which total revenue +9.8 pp · buybacks/dilution −4.0 pp

EBIT margin +3.9 pp
Tax rate −0.4 pp
Residual (interest, one-offs) −2.6 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). "Vintcom Technology Public Company Fair Value". https://www.fairvalue-calculator.com/stock/VCOM

Peer Group

Electronics & Computer Distribution · 151 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 75 · Top 25%
Fair Value upside +111% · Top 25%
Return on equity (TTM) 24% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 11% · Top 25%
Revenue growth -14% · Bottom 25%
Dividend yield (TTM) 9.3% · Top 25%
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Electronics & Computer Distribution median · lower = cheaper

P/E (TTM) 9.3× · Cheaper than 75% of peers
P/B 2.05× · Pricier than median
P/S (TTM) 0.62× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 4.0× · Cheaper than 75% of peers

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 100 · sector 14
FUTURE 0 · sector 57
PAST 96 · sector 36
HEALTH 100 · sector 98
DIVIDEND 100 · sector 39

Insider activity: 35/100

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 Electronics & Computer Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
TD SYNNEX Corporation SNX $251.52 $207.02 -18%
Unisplendour Corporation 000938 ¥38.59 ¥11.79 -69%
Rexel S.A RXL €38.59 €33.31 -14%
Arrow Electronics, Inc ARW $204.10 $115.40 -43%
Avnet, Inc AVT $87.13 $58.57 -33%
WPG Holdings 3702 106.50 TWD 102.31 TWD -4%
Shenzhen Huaqiang Industry Co 000062 ¥22.37 ¥7.52 -66%
Synnex Technology International Corporation 2347 85.30 TWD 86.30 TWD +1%
Nanjing Sunlord Electronics Corporation 300975 ¥37.37 ¥8.60 -77%
Beijing Tricolor Technology Co 603516 ¥106.52 ¥23.39 -78%

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Frequently asked questions

Is Vintcom Technology Public Company (VCOM) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 8.47 THB versus a price of 4.02 THB, about +111% (undervalued).
What is the fair value of VCOM?
Our model-based fair value for Vintcom Technology Public Company is 8.47 THB (as of Jul 12, 2026), built from audited fundamentals. The current price is 4.02 THB.
What is the quality score of VCOM?
Vintcom Technology Public Company has a Quality Score of 75/100. 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 Vintcom Technology Public Company (VCOM)?
Vintcom Technology Public Company reported trailing-twelve-month revenue of about 2.0B THB (latest available figure, as of Jul 12, 2026).
What is the net profit margin of VCOM?
The net profit margin of Vintcom Technology Public Company is about 6.8%, meaning it keeps roughly 6.8% of revenue as net income. Based on the latest reported figures.
Does Vintcom Technology Public Company pay a dividend?
Vintcom Technology Public Company currently shows a dividend yield of about 9.59% 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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