Stecon Group Public Company Limited

SET:STECON Stock Report

Market Cap: ฿12.0b

Stecon Group Valuation

Is STECON undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of STECON when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: STECON (THB7.9) is trading below our estimate of fair value (THB15.34)

Significantly Below Fair Value: STECON is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for STECON?

Key metric: As STECON is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for STECON. This is calculated by dividing STECON's market cap by their current earnings.
What is STECON's PE Ratio?
PE Ratio50x
Earnings฿240.20m
Market Cap฿12.00b

Price to Earnings Ratio vs Peers

How does STECON's PE Ratio compare to its peers?

The above table shows the PE ratio for STECON vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.3x
TKC Turnkey Communication Services
17.6xn/a฿4.8b
TEAMG TEAM Consulting Engineering and Management
22.5xn/a฿3.0b
UNIQ Unique Engineering and Construction
18.7xn/a฿3.1b
SYNTEC Syntec Construction
6.4xn/a฿2.5b
STECON Stecon Group
50x38.4%฿12.0b

Price-To-Earnings vs Peers: STECON is expensive based on its Price-To-Earnings Ratio (50x) compared to the peer average (16.3x).

Price to Earnings Ratio vs Industry

How does STECON's PE Ratio compare vs other companies in the TH Construction Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
QTCG QTCG
2.2xn/aUS$6.07m
No more companies available in this PE range
STECON 50.0xIndustry Avg. 12.0xNo. of Companies4PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: STECON is expensive based on its Price-To-Earnings Ratio (50x) compared to the TH Construction industry average (12x).

Price to Earnings Ratio vs Fair Ratio

What is STECON's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

STECON PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio50x
Fair PE Ratio30.3x

Price-To-Earnings vs Fair Ratio: STECON is expensive based on its Price-To-Earnings Ratio (50x) compared to the estimated Fair Price-To-Earnings Ratio (30.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst STECON forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿7.90
฿10.02
+26.8%
11.9%฿12.00฿8.00n/a10
Nov ’25฿9.05
฿10.19
+12.6%
11.5%฿12.00฿8.00n/a10
Oct ’25฿9.65
฿10.04
+4.0%
11.5%฿12.00฿8.00n/a10
Sep ’25฿8.70
฿10.22
+17.5%
12.1%฿12.00฿8.00n/a11
Aug ’25฿9.40
฿10.79
+14.8%
10.6%฿12.50฿9.50n/a11
Jul ’25฿9.20
฿11.10
+20.7%
13.5%฿14.50฿9.50n/a12
Jun ’25฿9.45
฿11.23
+18.9%
13.1%฿14.50฿9.50n/a12
May ’25฿10.70
฿11.32
+5.8%
13.3%฿14.50฿9.00n/a12
Apr ’25฿10.20
฿11.33
+11.1%
13.1%฿14.50฿9.00n/a12
Mar ’25฿10.00
฿11.09
+10.9%
13.4%฿14.50฿9.00n/a12
Feb ’25฿8.45
฿11.78
+39.4%
15.8%฿14.50฿9.50n/a11
Jan ’25฿8.40
฿11.90
+41.7%
15.0%฿14.50฿9.50n/a11
Dec ’24฿8.85
฿12.08
+36.5%
13.5%฿14.50฿10.20n/a11
Nov ’24฿8.50
฿12.93
+52.1%
14.2%฿16.20฿10.20฿9.0511
Oct ’24฿9.40
฿12.93
+37.5%
14.2%฿16.20฿10.20฿9.6511
Sep ’24฿11.70
฿13.71
+17.2%
12.9%฿16.20฿10.80฿8.7010
Aug ’24฿10.90
฿14.31
+31.3%
11.7%฿16.20฿11.30฿9.409
Jul ’24฿8.80
฿14.64
+66.3%
10.3%฿16.20฿11.30฿9.208
Jun ’24฿9.20
฿14.64
+59.1%
10.3%฿16.20฿11.30฿9.458
May ’24฿11.60
฿15.54
+34.0%
6.9%฿16.70฿13.30฿10.709
Apr ’24฿12.60
฿15.54
+23.4%
6.9%฿16.70฿13.30฿10.209
Mar ’24฿13.50
฿15.32
+13.5%
8.4%฿16.70฿13.00฿10.0011
Feb ’24฿14.30
฿15.20
+6.3%
9.0%฿17.00฿13.00฿8.4512
Jan ’24฿13.60
฿15.04
+10.6%
9.0%฿17.00฿13.00฿8.4012
Dec ’23฿12.40
฿15.04
+21.3%
9.0%฿17.00฿13.00฿8.8512
Nov ’23฿11.90
฿15.10
+26.9%
9.4%฿17.25฿13.00฿8.5012

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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