World Flex PCL (WFX) fair value: what the stock is really worth
As of Oct 12, 2026: fair value of World Flex PCL THB 3.09, price THB 1.20, upside +157.5%, quality 52 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
58‑month range 0.6600 THB – 8.61 THB · fair‑value band 2.38 THB – 3.86 THB · the 1.20 THB price screens below the 3.09 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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World Flex Public Company Limited manufactures and sells latex thread products in Thailand. The company provides rubber threads coated with talcum and polymer.
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World Flex Public Company Limited manufactures and sells latex thread products in Thailand. The company provides rubber threads coated with talcum and polymer. Its products are used in various applications, such as sock tops, pantyhose tops, orthopedic knit sockings, hosiery, light ribbons, alimentary and medical nettings, loom fabrics and warps, woofs, raschel fabrics, braids, laces, cords, and belts for furniture. The company offers its products under the WFX, THAITEX, QUALIFLEX, CHANG THAI, PEGASUS RED, PEGASUS BLUE, and LT RUBBER brands. It also operates in the People's Republic of China, the rest of Asia, Europe, South America, Africa, and North America. The company was founded in 1991 and is headquartered in Bangkok, Thailand. World Flex Public Company Limited operates as a subsidiary of Thai Rubber Latex Group Public Company Limited.
Stock analysis
World Flex PCL (WFX) currently trades at 1.20 THB, while our model-based Fair Value estimate is 3.09 THB, implying the stock looks roughly 61.2% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 3.87 THB per share, and 11 of the 11 models we run sit above the 1.20 THB price.
Bear case: the Multiples group reads lowest at 1.22 THB, and 0 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 2.38 THB (bear) to 3.86 THB (bull), the price of 1.20 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 52/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
World Flex PCL reported revenue of 2.1B THB in FY2025 versus 3.8B THB in FY2021, a compound −13.2%/yr. Reported net income was −87.0M THB in FY2025.
Key figures
Market cap 557M THB (≈ $16.6M) · P/S ratio 0.26 · EPS (TTM) −0.0400 THB · Net margin −4.1% · Return on equity −1.1% · Return on assets (EBIT) 2.1% · Operating margin 0.7% · Revenue (TTM) 2.0B THB.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 82% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −11% fair-value upside, at 158%, WFX screens cheaper than that median.
Fair Value models
Bear 2.38 THBFair Value 3.09 THBBull 3.86 THB
Price 1.20 THB · Upside +157.5%
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.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.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.18/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−30.0%
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.
−16.5%
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.
−2.2%
Start year 2020 (pandemic)
Revenue growth 8 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.
+2.7%
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Profit margin (trend) ⓘ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.
3.4% (2020) → −5.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less 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).
−10.2%
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 −11.2% a year for the price.
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.Textile Manufacturing · 335 stocks
Beats the industry median on 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside+157.5% · Top 25%
Profitability
Return on assets−0.5% · Bottom 25%
Net margin (TTM)−0.9% · Bottom 25%
Operating margin (TTM)0.7% · Below median
Growth and dividend
Revenue growth−11.0% · Bottom 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Textile Manufacturing median · lower = cheaper
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Is World Flex PCL (WFX) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 3.09 THB versus a price of 1.20 THB, about +158% upside (undervalued).
What is the fair value of WFX?
Our model-based fair value for World Flex PCL is 3.09 THB (as of Oct 3, 2026), built from audited fundamentals. The current price: 1.20 THB.
What is the quality score of WFX?
World Flex PCL has a Quality Score of 52/100. 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 World Flex PCL (WFX)?
Our model-based price target is the fair value of 3.09 THB (as of Oct 3, 2026) from 11 valuation models. Cautious scenario 2.38 THB, optimistic scenario 3.86 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the World Flex PCL stock forecast for 2026?
Our models put fair value at 3.09 THB, about +158% upside versus a price of 1.20 THB (undervalued). Cautious scenario 2.38 THB, optimistic scenario 3.86 THB. The calculation is refreshed regularly with new filings.
What is the revenue of World Flex PCL (WFX)?
World Flex PCL reported trailing-twelve-month revenue of about 2.0B THB (latest available figure, as of Oct 3, 2026).
What growth is priced into World Flex PCL (WFX)?
For today's price to be fair in a discounted-cash-flow model, World Flex PCL would have to grow free cash flow by -10.2 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.2 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of WFX use?
Our models discount World Flex PCL at 11.6 %: a base by market capitalisation (nano), 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 World Flex PCL that is -10.2 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has World Flex PCL (WFX) delivered so far?
Over the past 5 years revenue at World Flex PCL grew -2.2 % a year. The price currently implies -10.2 % 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 World Flex PCL (WFX) growing?
The median revenue growth in the sector is +4.3 % a year. That is the yardstick for the growth priced into World Flex PCL (-10.2 % 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 World Flex PCL (WFX)?
The free-cash-flow yield on the price is 24.57 %: that much free cash flow World Flex PCL produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of World Flex PCL (WFX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For World Flex PCL it is 3.09 THB per share (as of Oct 3, 2026), against a price of 1.20 THB. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is World Flex PCL stock overvalued or undervalued in 2026?
As of Oct 3, 2026, WFX trades below its calculated fair value: price 1.20 THB, fair value 3.09 THB, a gap of about +158% (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 WFX?
No. The price is what the market pays today (1.20 THB); the fair value is what the company's own numbers justify (3.09 THB). For World Flex PCL the two are 1.89 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is World Flex PCL worth?
The market values World Flex PCL at about 557M THB (market capitalisation, as of Oct 3, 2026). Per share that is 1.20 THB; our models calculate a fair value of 3.09 THB per share.
What do the bullish and bearish scenarios say about WFX?
Our models span a range for World Flex PCL: cautious scenario 2.38 THB, base 3.09 THB, optimistic 3.86 THB per share (as of Oct 3, 2026, price 1.20 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of World Flex PCL (WFX)?
Balance-sheet figures for World Flex PCL (as of Oct 3, 2026): return on equity −1.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is WFX from its 52-week high?
World Flex PCL trades at 1.20 THB, about 8% below its 52-week high of 1.30 THB and 82% above the low of 0.6600 THB (as of Oct 12, 2026). Distance from the high says nothing about value: that is what the fair value of 3.09 THB is for.
Which stocks are comparable to World Flex PCL?
From the same area (Consumer Cyclical) we also value Tongkun Group, Shenzhou International Group, Inner Mongolia ERDOS Resources Co, Far Eastern New Century Corporation, 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 World Flex PCL stock attractive at the current price?
The data as of Oct 3, 2026: price 1.20 THB, calculated fair value 3.09 THB (+158%), Quality Score 52/100, from 11 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 WFX calculated?
We run World Flex PCL through 11 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 3.09 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 14.8 % above its aggregate fair value. World Flex PCL currently trades 61 % 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 World Flex PCL (WFX)?
The closing price on Oct 12, 2026 was 1.20 THB. Our model-based fair value is 3.09 THB, about +158% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with World Flex PCL right now?
The price is below even our cautious bear case (2.38 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 (52/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of World Flex PCL
How large is the market capitalisation of World Flex PCL (WFX)?
The market capitalisation of World Flex PCL is 557M THB (≈ $16.6M). 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 World Flex PCL (WFX)?
The price-to-sales ratio of World Flex PCL is 0.26 (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 World Flex PCL (WFX)?
Earnings per share at World Flex PCL are −0.0400 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of World Flex PCL (WFX)?
The net margin of World Flex PCL is −4.1% (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 World Flex PCL (WFX)?
The return on equity (ROE) of World Flex PCL is −1.1% (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 World Flex PCL (WFX)?
On an EBIT basis the return on assets of World Flex PCL is 2.1% (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 World Flex PCL (WFX)?
The operating margin of World Flex PCL is 0.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at World Flex PCL (WFX)?
Revenue at World Flex PCL is growing −11.0% versus a year earlier (3y avg −16.5%). 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 World Flex PCL (WFX)?
Earnings per share at World Flex PCL are growing −96.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does World Flex PCL (WFX) carry?
The net debt of World Flex PCL is 191M THB (fiscal year 2025, ≈ 1.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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