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Well Graded Engineering Public Company Limited (WGE) Fair Value & Analysis

Industrials · TH · Market cap 432M THB

WG Well Graded Engineering Public Company Limited WGE · BK
Price0.6900 THB
Fair Value0.6033 THB
Upside-12.6%
Quality80/100
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Strengths

Healthy Growth (revenue 5y +24.6 %/yr)
Low debt · generates free cash flow
Ranks above peers (10/13)

Risks

!Trades 14% ABOVE our fair value of 0.6033 THB
!Thin margins · 5.6% net margin
!Moderate moat 56/100
!Weak on valuation: 16 out of 100
Healthy Growth (revenue 5y +24.6 %/yr)
Thin margins · 5.6% net margin
Low debt · generates free cash flow
Ranks above peers (10/13)
Moderate moat 56/100
Evidence: High Range 0.4584 THB – 0.9418 THB Share as image

Fair value as of: Aug 19, 2026

From 24 valuation models · updated 7 days ago

Fair value updated Aug 19, 2026, revised from 0.6063 THB to 0.6033 THB (−0.5%) since Aug 13, 2026. Share price −4.2% over the past month.

A strong business, but trading 14% above our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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What matters now

  • A fairly wide model range (0.4584 THB to 0.9418 THB) leaves room in how you read the outcome.
  • Our model range runs from 0.4584 THB (bear) to 0.9418 THB (bull), base 0.6033 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 80/100 (high quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

2.53 THB 0.5900 THB Fair Value 0.6033 THB Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range 0.5900 THB – 2.53 THB · fair‑value band 0.4584 THB – 0.9418 THB · the 0.6900 THB price screens above the 0.6033 THB fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Well Graded Engineering Public Company Limited (WGE) currently trades at 0.6900 THB, while our model-based Fair Value estimate is 0.6033 THB, implying the stock looks roughly 12.6% overvalued today. The Quality Score stands at 80/100 (high quality), in the Industrials 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: high).

Over the trailing twelve months, Well Graded Engineering Public Company Limited generated revenue of 2.4B THB at a net margin of 5.6%. Revenue declined 22.4% year over year. It earns a return on equity of 29.2%. The balance sheet holds a net cash position of 115M THB. Fundamentals as of Aug 19, 2026

Our scenario range runs from 0.4584 THB (bear case) to 0.9418 THB (bull case); at 0.6900 THB, the current price sits within 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 about 30% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -46% fair-value upside, at -13%, WGE 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 7.76 THB 13.97 THB 22.74 THB 80
Residual Income 1.47 THB 2.04 THB 12.18 THB 76
Rev-Margin DCF 4.85 THB 7.78 THB 11.92 THB 74
All 24 models by family
DCF Models
FCF DCF 8.05 THB 13.22 THB 25.34 THB 38
Owner Earnings 2.90 THB 5.22 THB 9.24 THB 31
5Y Revenue Exit 4.85 THB 7.82 THB 11.85 THB 39
5Y EBITDA Exit 5.26 THB 8.76 THB 13.24 THB 41
5Y P/E Exit 5.42 THB 9.11 THB 13.51 THB 38
10Y Revenue Exit 5.83 THB 9.10 THB 14.05 THB 36
10Y EBITDA Exit 6.19 THB 9.76 THB 15.41 THB 37
10Y P/E Exit 6.29 THB 10.01 THB 15.64 THB 35
Earnings-Based
Graham-Dodd 1.69 THB 10.34 THB 14.43 THB 54
Lynch FV 2.96 THB 4.23 THB 5.50 THB 50
PEG = 1.0 2.96 THB 4.23 THB 5.50 THB 46
EPV 2.22 THB 2.47 THB 2.69 THB 59
Multiples
P/E Multiple 3.92 THB 5.23 THB 6.54 THB 63
P/S Multiple 3.18 THB 4.23 THB 5.29 THB 58
P/B Multiple 2.80 THB 3.74 THB 4.67 THB 55
EV/EBIT 4.26 THB 5.56 THB 6.87 THB 53
EV/EBITDA 4.02 THB 5.24 THB 6.46 THB 54
EV/Revenue 3.14 THB 4.34 THB 5.53 THB 43
Asset-Based
NCAV (Graham) 0.4200 THB 0.5600 THB 0.8300 THB 50
Growth DCF
Growth DCF 7.76 THB 13.97 THB 22.74 THB 80
Rev-Margin DCF 4.85 THB 7.78 THB 11.92 THB 74
Economic Profit
Residual Income 1.47 THB 2.04 THB 12.18 THB 76
ROIC Compounder 2.45 THB 3.02 THB 3.68 THB 72
Growth Earnings
Growth-Adj P/E 4.27 THB 6.10 THB 7.93 THB 68

Widest divergence: DCF Models (9.10 THB) versus Asset-Based (0.5600 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 3.1
P/S ratio 0.18 TTM
Net margin 5.6% TTM
Return on equity 29.2% TTM
Return on assets 7.4% TTM
Operating margin 8.0% TTM
More key figures
Profitability
EPS (TTM) 0.2200 THB
Growth
Revenue (TTM) 2.4B THB TTM
Revenue growth (YoY) -22.4% 3y avg +16.0%
EPS growth (YoY) -31.6%
Balance sheet & cash flow
Free cash flow 389M THB FY2025
Net cash 115M THB FY2025

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 80/100

Of which business quality 77 · Market factors (momentum, volatility) 40

Profitability 66
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 14
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Well Graded Engineering Public Company Limited, together with its subsidiaries, operates as a construction contractor in Thailand. It provides technical consultancy services for the engineering and architecture sectors.

Full company description

Well Graded Engineering Public Company Limited, together with its subsidiaries, operates as a construction contractor in Thailand. It provides technical consultancy services for the engineering and architecture sectors. The company is also involved in the construction of high and low rise condo, office building, hospital, sales office, small shopping center, factory, infrastructure, and public utility system. In addition, it provides renovation, repair, and interior services. The company was incorporated in 2010 and is headquartered in Nonthaburi, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Well Graded Engineering Public Company Limited reported revenue of 2.6B THB in FY2025 versus 1.2B THB in FY2021, a compound +21.5%/yr. Reported net income was 149M THB in FY2025, compounding +80.6%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.6B THB
Latest YoY
+11.6%
Avg. revenue 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.
+16.0%
Avg. revenue 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.
+24.6%
Avg. revenue growth/yr (9Y) 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.
+18.5%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+20.9% (20.9 + 0.0)
Revenue +21.5%/yr
FY21 1.2B THB
FY22 1.7B THB
FY23 1.8B THB
FY24 2.3B THB
FY25 2.6B THB
Net income +80.6%/yr
FY21 14.0M THB
FY22 −122M THB
FY23 −221M THB
FY24 51.1M THB
FY25 149M THB

WGE screens 13% overvalued. Compare with Quanta Services, Inc →

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Cite: Fair Value Calculator (2026). "Well Graded Engineering Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/WGE

Peer Group

Engineering & Construction · 835 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 80 · Top 25%
Fair Value upside −13% · Below median
Return on equity (TTM) 29% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth -22% · Bottom 25%
Debt / equity 0.15× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 3.1× · Cheaper than 75% of peers
P/B 0.87× · Cheaper than median
P/S (TTM) 0.18× · Cheaper than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 1.0× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE16 · sector 16
FUTURE0 · sector 14
PAST100 · sector 26
HEALTH93 · sector 94
DIVIDEND0 · sector 38

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

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Quanta Services, Inc PWR $678.02 $143.92 -79%
Vinci SA DG €119.95 €185.62 +55%
Comfort Systems USA, Inc FIX $1,739 $519.97 -70%
Larsen & Toubro Limited LT ₹4,072 ₹2,196 -46%
Ferrovial N.V FER €57.28 €19.17 -67%
HOCHTIEF Aktiengesellschaft HOT €427.60 €203.87 -52%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
ACS, Actividades de Construcción y Servicios, S.A ACS €104.30 €75.04 -28%
EMCOR Group EME $833.40 $549.47 -34%
MasTec, Inc MTZ $281.11 $100.00 -64%

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Frequently asked questions

Is Well Graded Engineering Public Company Limited (WGE) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of 0.6033 THB versus a price of 0.6900 THB, about −13% (overvalued).
What is the fair value of WGE?
Our model-based fair value for Well Graded Engineering Public Company Limited is 0.6033 THB (as of Aug 19, 2026), built from audited fundamentals. The current price: 0.6900 THB.
What is the quality score of WGE?
Well Graded Engineering Public Company Limited has a Quality Score of 80/100. 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 Well Graded Engineering Public Company Limited (WGE)?
Well Graded Engineering Public Company Limited reported trailing-twelve-month revenue of about 2.4B THB (latest available figure, as of Aug 19, 2026).
What is the net profit margin of WGE?
The net profit margin of Well Graded Engineering Public Company Limited is about 5.6%, meaning it keeps roughly 5.6% of revenue as net income. Based on the latest reported figures.

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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