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WP Energy Public Company (WP) Fair Value & Analysis

Utilities · TH · Market cap 1.9B THB

WE WP Energy Public Company WP · BK
Price3.76 THB
Fair Value4.38 THB
Upside+16.5%
Quality57/100
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Mixed Growth
Thin margins · 0.9% net margin
Low debt · generates free cash flow
8.06% dividend yield
Ranks above peers (10/14)
Narrow moat 34/100
Evidence: High Range 3.29 THB – 5.47 THB Share as image

Fair value as of: Jul 13, 2026

From 22 valuation models · updated 28 days ago

Share price +1.6% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • Our model range runs from 3.29 THB (bear) to 5.47 THB (bull), base 4.38 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 57/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

4.55 THB 2.63 THB Fair Value 4.38 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range 2.63 THB – 4.55 THB · fair‑value band 3.29 THB – 5.47 THB · the 3.76 THB price screens below the 4.38 THB fair value. Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

WP Energy Public Company (WP) currently trades at 3.76 THB, while our model-based Fair Value estimate is 4.38 THB, implying the stock looks roughly 16.5% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Utilities 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, WP Energy Public Company generated revenue of 17.0B THB at a net margin of 0.9%. Revenue declined 5.7% year over year. It earns a return on equity of 11.8%. The balance sheet holds a net cash position of 9.9M THB. Fundamentals as of Jul 13, 2026

Our scenario range runs from 3.29 THB (bear case) to 5.47 THB (bull case); at 3.76 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 near its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -19% fair-value upside, at 16%, WP 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 3.88 THB 4.98 THB 6.39 THB 80
Residual Income 2.22 THB 2.48 THB 3.34 THB 76
Gordon GGM 2.33 THB 4.20 THB 5.78 THB 70
All 22 models by family
DCF Models
FCF DCF 3.87 THB 5.17 THB 6.94 THB 38
Owner Earnings 6.68 THB 9.34 THB 13.00 THB 31
5Y Revenue Exit 3.71 THB 5.16 THB 7.01 THB 39
5Y EBITDA Exit 4.03 THB 5.76 THB 7.80 THB 41
5Y P/E Exit 3.98 THB 5.66 THB 7.45 THB 38
10Y Revenue Exit 3.68 THB 4.95 THB 6.68 THB 36
10Y EBITDA Exit 3.93 THB 5.34 THB 7.23 THB 37
10Y P/E Exit 3.90 THB 5.27 THB 6.99 THB 35
Earnings-Based
Graham-Dodd 2.05 THB 7.03 THB 9.44 THB 54
Lynch FV 1.62 THB 2.31 THB 3.01 THB 50
PEG = 1.0 1.62 THB 2.31 THB 3.01 THB 46
Dividend Discount
Gordon GGM 2.33 THB 4.20 THB 5.78 THB 70
DDM Multi-Stage 2.33 THB 3.78 THB 4.49 THB 61
Multiples
P/E Multiple 3.17 THB 4.23 THB 5.29 THB 63
P/S Multiple 3.85 THB 5.13 THB 6.42 THB 58
P/B Multiple 3.42 THB 4.56 THB 5.69 THB 55
EV/EBITDA 4.49 THB 5.58 THB 6.67 THB 54
EV/Revenue 3.73 THB 4.80 THB 5.88 THB 43
Asset-Based
NCAV (Graham) 1.27 THB 1.70 THB 2.53 THB 50
Growth DCF
Growth DCF 3.88 THB 4.98 THB 6.39 THB 80
Economic Profit
Residual Income 2.22 THB 2.48 THB 3.34 THB 76
Growth Earnings
Growth-Adj P/E 2.88 THB 4.11 THB 5.34 THB 68

Widest divergence: DCF Models (5.27 THB) versus Asset-Based (1.70 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 17.0B THB
Revenue growth (YoY) -5.7%
Net margin 0.9%
Return on equity 11.8%
Free cash flow 141M THB FY2025
P/E ratio 11.4
More key figures
Operating margin 0.0%
EPS (TTM) 0.3100 THB
EPS growth (YoY) +12.5%
Net cash 9.9M THB FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 70

Profitability 42
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 84
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

WP Energy Public Company Limited, together with its subsidiaries, trades in liquefied petroleum gas (LPG) under the World Gas brand name in Thailand, Vietnam, and Singapore. It operates through Trading of LPG, petroleum by-products and other related businesses; and Transportation of Oil, Gas and Chemical Substances segments.

Full company description

WP Energy Public Company Limited, together with its subsidiaries, trades in liquefied petroleum gas (LPG) under the World Gas brand name in Thailand, Vietnam, and Singapore. It operates through Trading of LPG, petroleum by-products and other related businesses; and Transportation of Oil, Gas and Chemical Substances segments. The company distributes LPG cylinder to the household, automobile, industrial and commercial, and auto gas station sectors; and provides butane gas cartridge, as well as offers specialized LPG cylinders for forklift trucks. It also transports oil, gas, and chemical substances; operates gas station; repair and maintenance services on gas cylinders; produces and distributes electricity; and leases vehicle transportation of gas. In addition, the company provides solar service solutions, maintenance, and logistics services. WP Energy Public Company Limited was incorporated in 2014 and is based in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

WP Energy Public Company reported revenue of 17.3B THB in FY2025 versus 11.5B THB in FY2021, a compound +10.6%/yr. Reported net income was 154M THB in FY2025, compounding +11.8%/yr from FY2021.

Growth Quality 57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
17.3B THB
Latest YoY
−8.0%
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.
+4.1%
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.
+7.8%
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.
−1.3%
Revenue +10.6%/yr
FY21 11.5B THB
FY22 15.3B THB
FY23 17.9B THB
FY24 18.8B THB
FY25 17.3B THB
Net income +11.8%/yr
FY21 98.8M THB
FY22 119M THB
FY23 125M THB
FY24 144M THB
FY25 154M THB

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

Peer Group

Utilities - Regulated Gas · 104 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 57 · Top 25%
Fair Value upside +17% · Above median
Return on equity (TTM) 12% · Above median
Return on assets -0% · Bottom 25%
Net margin (TTM) 1% · Bottom 25%
Operating margin (TTM) -0% · Bottom 25%
Revenue growth -6% · Below median
Dividend yield (TTM) 8.1% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper

P/E (TTM) 11.9× · Cheaper than 75% of peers
P/B 1.46× · Cheaper than median
P/S (TTM) 0.11× · Cheaper than 75% of peers
P/FCF 0.4× · Cheaper than median
EV/EBITDA 4.2× · 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 55 · sector 22
FUTURE 0 · sector 0
PAST 47 · sector 34
HEALTH 100 · sector 85
DIVIDEND 100 · sector 67

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 Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Naturgy Energy Group NTGY €28.84 €35.80 +24%
Atmos Energy Corporation ATO $177.68 $85.67 -52%
NiSource Inc NI $47.07 $28.59 -39%
Uniper SE UN0 €42.80 €49.13 +15%
The Hong Kong and China Gas Company 0003 HK$7.03 HK$5.08 -28%
Italgas S.p.A IG €9.98 €8.11 -19%
GAIL (India) Limited GAIL ₹171.71 ₹147.74 -14%
Adani Total Gas Limited ATGL ₹723.90 ₹101.36 -86%
ENN Natural Gas Co 600803 ¥17.30 ¥25.71 +49%
UGI Corporation UGI $35.84 $27.13 -24%

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Frequently asked questions

Is WP Energy Public Company (WP) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 4.38 THB versus a price of 3.76 THB, about +16% (undervalued).
What is the fair value of WP?
Our model-based fair value for WP Energy Public Company is 4.38 THB (as of Jul 13, 2026), built from audited fundamentals. The current price is 3.76 THB.
What is the quality score of WP?
WP Energy Public Company has a Quality Score of 57/100. 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 WP Energy Public Company (WP)?
WP Energy Public Company reported trailing-twelve-month revenue of about 17.0B THB (latest available figure, as of Jul 13, 2026).
What is the net profit margin of WP?
The net profit margin of WP Energy Public Company is about 0.9%, meaning it keeps roughly 0.9% 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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