Vanachai Group (VNG) Fair Value & Analysis
Basic Materials · TH · Market cap 3.4B THB
Fair value as of: Jul 14, 2026
From 4 valuation models · updated today
Share price +5.3% over the past month.
Price vs Fair Value (12 months)
12‑month range 1.68 THB – 2.18 THB · fair‑value band 0.9800 THB – 1.66 THB · the 2.00 THB price screens above the 1.40 THB fair value. As of Jul 14, 2026.
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Vanachai Group (VNG) currently trades at 2.00 THB, while our model-based Fair Value estimate is 1.40 THB — implying the stock looks roughly 30.0% overvalued today. We read business quality at 35/100 (below-average quality), in the Basic Materials 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: low).
Over the trailing twelve months, Vanachai Group generated revenue of 11.3B THB at a net margin of -5.3%. Revenue declined 19.5% year over year. It earns a return on equity of -8.8%. Net debt stands at 9.6B THB. Fundamentals as of Jul 14, 2026
Our scenario range runs from 0.9800 THB (bear case) to 1.66 THB (bull case); at 2.00 THB, the current price sits above that range. The share trades about 12% below its 52-week high and 22% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 16% fair-value upside — at -30%, VNG screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 14, 2026. TTM = trailing twelve months.
About the company
Vanachai Group Public Company Limited, together with its subsidiaries, engages in production and distribution of wood plates, medium density fiberboards, particle boards, doorskin, and melamine on wood plates in Thailand and internationally. The company offers oriented strand boards, shuttering board, melamine faced panels, moulded doors, melanine doors, decorative panels, laminate flooring, flooring and accessories, and plywoods, as well as polyester and veneer on MDF boards. It also manufactures glue and impregnated paper products; and engages in the manufacture of electricity from renewable energy, as well as in marketing management business. In addition, the company provides transportation services. The company was formerly known as MDF Planner Co., Ltd. and changed its name to Vanachai Group Public Company Limited. The company was founded in 1943 and is headquartered in Bangkok, Thailand.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Vanachai Group reported revenue of 11.3B THB in FY2025 versus 13.0B THB in FY2021, a compound −3.4%/yr. Reported net income was −602M THB in FY2025.
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10 more Lumber & Wood Production stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Simpson Manufacturing Co SSD | $186.22 | $95.11 | -49% |
| West Fraser Timber Co WFG | $69.05 | $7.50 | -89% |
| UFP Industries, Inc UFPI | $85.44 | $101.34 | +19% |
| Stella-Jones Inc STLJF | $58.00 | $67.39 | +16% |
| Boise Cascade Company BCC | $68.48 | $43.37 | -37% |
| Century Plyboards (India) Limited CENTURYPLY | ₹754.55 | ₹201.01 | -73% |
| DeHua TB New Decoration Material Co 002043 | ¥12.15 | ¥15.06 | +24% |
| Corticeira Amorim, S.G.P.S., S.A COR | €6.61 | €7.54 | +14% |
| Kangxin New Materials Co 600076 | ¥3.76 | ¥8.06 | +114% |
| Dare Power Dekor Home Co 000910 | ¥5.52 | ¥6.50 | +18% |
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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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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.