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Window Asia Public Company (WINDOW) Fair Value & Analysis

Basic Materials · TH · Market cap 657M THB

WA Window Asia Public Company WINDOW · BK
Price0.7200 THB
Fair Value0.8208 THB
Upside+14.0%
Quality58/100
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Weak Growth
Thin margins · 4.7% net margin
Low debt · generates free cash flow
4.05% dividend yield
Mixed vs. peers (8/14)
Narrow moat 35/100
Evidence: High Range 0.6248 THB – 1.03 THB Share as image

Fair value as of: Jul 16, 2026

From 22 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 1.19 THB to 0.8208 THB (−31.0%) since Jun 24, 2026. Share price −2.7% over the past month.

A solid business, screening 14% undervalued on our models.

What matters now

  • Our model range runs from 0.6248 THB (bear) to 1.03 THB (bull), base 0.8208 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 58/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (3 years)

1.38 THB 0.5917 THB Fair Value 0.8208 THB Oct 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

34‑month range 0.5917 THB – 1.38 THB · fair‑value band 0.6248 THB – 1.03 THB · the 0.7200 THB price screens below the 0.8208 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Window Asia Public Company (WINDOW) currently trades at 0.7200 THB, while our model-based Fair Value estimate is 0.8208 THB, implying the stock looks roughly 14.0% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Basic Materials 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: high), always confirm before acting.

Over the trailing twelve months, Window Asia Public Company generated revenue of 714M THB at a net margin of 4.7%. Revenue declined 1.8% year over year. It earns a return on equity of 3.7%. Net debt stands at 294M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 0.6248 THB (bear case) to 1.03 THB (bull case); at 0.7200 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 20% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 14%, WINDOW 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 0.7500 THB 0.9300 THB 1.20 THB 80
Residual Income 0.7100 THB 0.6900 THB 0.5700 THB 76
Rev-Margin DCF 0.5600 THB 0.7200 THB 0.9300 THB 74
All 22 models by family
DCF Models
FCF DCF 0.7300 THB 0.9200 THB 1.23 THB 38
Owner Earnings 0.8800 THB 1.11 THB 1.50 THB 31
5Y Revenue Exit 0.5600 THB 0.7100 THB 0.9200 THB 39
5Y EBITDA Exit 0.8300 THB 1.17 THB 1.62 THB 41
5Y P/E Exit 0.6800 THB 0.9000 THB 1.18 THB 38
10Y Revenue Exit 0.6300 THB 0.7300 THB 0.8400 THB 36
10Y EBITDA Exit 0.7800 THB 1.00 THB 1.22 THB 37
10Y P/E Exit 0.7000 THB 0.8500 THB 0.9800 THB 35
Earnings-Based
Graham-Dodd 0.2700 THB 0.3300 THB 0.3700 THB 54
EPV 0.3600 THB 0.3900 THB 0.4200 THB 59
Multiples
P/E Multiple 0.5900 THB 0.7900 THB 0.9900 THB 63
P/S Multiple 0.5100 THB 0.6700 THB 0.8400 THB 58
P/B Multiple 0.5100 THB 0.6700 THB 0.8400 THB 55
EV/EBIT 0.6200 THB 0.7900 THB 0.9500 THB 53
EV/EBITDA 1.04 THB 1.34 THB 1.65 THB 54
EV/Revenue 0.4600 THB 0.6000 THB 0.7500 THB 43
Asset-Based
NCAV (Graham) 0.5100 THB 0.6800 THB 1.02 THB 50
Growth DCF
Growth DCF 0.7500 THB 0.9300 THB 1.20 THB 80
Rev-Margin DCF 0.5600 THB 0.7200 THB 0.9300 THB 74
Economic Profit
Residual Income 0.7100 THB 0.6900 THB 0.5700 THB 76
ROIC Compounder 0.3600 THB 0.3900 THB 0.4200 THB 72
Growth Earnings
Growth-Adj P/E 0.4200 THB 0.6000 THB 0.7800 THB 68

Widest divergence: DCF Models (0.9000 THB) versus Earnings-Based (0.3300 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 714M THB
Revenue growth (YoY) -1.8%
Net margin 4.7%
Return on equity 3.7%
Free cash flow 66.7M THB FY2026
P/E ratio 18.5
More key figures
Operating margin 6.1%
EPS (TTM) 0.0400 THB
Dividend yield 4.1%
EPS growth (YoY) -13.2%
Net debt 294M THB FY2023

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 60 · Market factors (momentum, volatility) 52

Profitability 34
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 33
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

Window Asia Public Company Limited engages in the manufacturing and selling of doors, windows, fences, roofs, and construction components in Thailand. The company provides UPVC doors, including sliding and bathroom doors; aluminum door, such as aluminum swing, and aluminum sliding; custom-made products, comprising custom cut UPVC and aluminum cut to order.

Full company description

Window Asia Public Company Limited engages in the manufacturing and selling of doors, windows, fences, roofs, and construction components in Thailand. The company provides UPVC doors, including sliding and bathroom doors; aluminum door, such as aluminum swing, and aluminum sliding; custom-made products, comprising custom cut UPVC and aluminum cut to order. It also offers UPVC Windows, such as window panes, sliding windows, single casement windows; aluminum windows, casement windows, single-casement, window frames, and sliding windows. In addition, it engages in import, sale, installation, and assembly of all types of roofing products. Window Asia Public Company Limited was founded in 2012 and is headquartered in Samut Sakhon, Thailand.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Window Asia Public Company reported revenue of 717M THB in FY2026 versus 810M THB in FY2022, a compound −3.0%/yr. Reported net income was 35.2M THB in FY2026, compounding −22.8%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
717M THB
Latest YoY
−6.7%
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.
−7.2%
Revenue −3.0%/yr
FY22 810M THB
FY23 897M THB
FY24 890M THB
FY25 769M THB
FY26 717M THB
Net income −22.8%/yr
FY22 99.3M THB
FY23 74.5M THB
FY24 21.6M THB
FY25 52.8M THB
FY26 35.2M THB

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Cite: Fair Value Calculator (2026). "Window Asia Public Company Fair Value". https://www.fairvalue-calculator.com/stock/WINDOW

Peer Group

Building Materials · 253 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 58 · Above median
Fair Value upside +14% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth -2% · Below median
Dividend yield (TTM) 4.1% · Above median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 18.5× · Cheaper than median
P/B 0.73× · Cheaper than median
P/S (TTM) 0.92× · Pricier than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 9.4× · Pricier than median

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 52 · sector 27
FUTURE 0 · sector 2
PAST 15 · sector 15
HEALTH 97 · sector 92
DIVIDEND 81 · sector 42

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is Window Asia Public Company (WINDOW) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 0.8208 THB versus a price of 0.7200 THB, about +14% (undervalued).
What is the fair value of WINDOW?
Our model-based fair value for Window Asia Public Company is 0.8208 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 0.7200 THB.
What is the quality score of WINDOW?
Window Asia Public Company has a Quality Score of 58/100. 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 Window Asia Public Company (WINDOW)?
Window Asia Public Company reported trailing-twelve-month revenue of about 714M THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of WINDOW?
The net profit margin of Window Asia Public Company is about 4.7%, meaning it keeps roughly 4.7% of revenue as net income. Based on the latest reported figures.
Does Window Asia Public Company pay a dividend?
Window Asia Public Company currently shows a dividend yield of about 4.11% relative to its recent price (as of Jul 16, 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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