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Siamrajathanee Public Company (SO) Fair Value & Analysis

Industrials · TH · Market cap 2.2B THB

SP Siamrajathanee Public Company SO · BK
Price4.78 THB
Fair Value8.18 THB
Upside+71.1%
Quality70/100
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Healthy Growth
Thin margins · 8.0% net margin
generates free cash flow
8.19% dividend yield
Ranks above peers (11/13)
Moderate moat 53/100
Evidence: High Range 6.13 THB – 10.22 THB Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Share price +2.6% over the past month.

A solid business, screening 71% undervalued on our models.

What matters now

  • The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (6.13 THB). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

14.16 THB 3.41 THB Fair Value 8.18 THB Mar 2021 Aug 2026

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

How to read this chart

60‑month range 3.41 THB – 14.16 THB · fair‑value band 6.13 THB – 10.22 THB · the 4.78 THB price screens below the 8.18 THB fair value. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Siamrajathanee Public Company (SO) currently trades at 4.78 THB, while our model-based Fair Value estimate is 8.18 THB, implying the stock looks roughly 71.1% undervalued today. The Quality Score stands at 70/100 (solid quality), in the Industrials 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, Siamrajathanee Public Company generated revenue of 2.9B THB at a net margin of 8.0%. Revenue grew 4.0% year over year. It earns a return on equity of 19.9%. Net debt stands at 1.1B THB. Fundamentals as of Aug 13, 2026

Our scenario range runs from 6.13 THB (bear case) to 10.22 THB (bull case); at 4.78 THB, the current price sits below 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 52% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -38% fair-value upside, at 71%, SO 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
Residual Income 2.88 THB 3.48 THB 7.76 THB 76
Growth DCF 10.52 THB 15.31 THB 21.91 THB 72
Gordon GGM 3.35 THB 6.68 THB 10.12 THB 70
All 26 models by family
DCF Models
FCF DCF 10.39 THB 15.85 THB 23.87 THB 38
Owner Earnings 11.18 THB 17.05 THB 25.69 THB 31
5Y Revenue Exit 6.33 THB 8.99 THB 12.26 THB 39
5Y EBITDA Exit 9.79 THB 15.47 THB 22.06 THB 41
5Y P/E Exit 8.11 THB 12.33 THB 16.70 THB 38
10Y Revenue Exit 7.63 THB 10.39 THB 13.89 THB 36
10Y EBITDA Exit 9.91 THB 14.79 THB 21.22 THB 37
10Y P/E Exit 8.86 THB 12.65 THB 17.21 THB 35
Earnings-Based
Graham-Dodd 3.27 THB 10.32 THB 13.74 THB 54
Lynch FV 2.26 THB 3.23 THB 4.20 THB 50
PEG = 1.0 2.26 THB 3.23 THB 4.20 THB 46
EPV 3.11 THB 3.59 THB 4.00 THB 59
Dividend Discount
Gordon GGM 3.35 THB 6.68 THB 10.12 THB 70
DDM Multi-Stage 3.35 THB 5.48 THB 7.06 THB 61
Multiples
P/E Multiple 7.58 THB 10.10 THB 12.63 THB 63
P/S Multiple 6.13 THB 8.18 THB 10.22 THB 58
P/B Multiple 6.13 THB 8.18 THB 10.22 THB 55
EV/EBIT 5.90 THB 7.84 THB 9.78 THB 53
EV/EBITDA 10.62 THB 14.13 THB 17.64 THB 54
EV/Revenue 4.24 THB 6.02 THB 7.80 THB 43
Asset-Based
NCAV (Graham) 1.18 THB 1.58 THB 2.36 THB 50
Growth DCF
Growth DCF 10.52 THB 15.31 THB 21.91 THB 72
Rev-Margin DCF 6.33 THB 9.12 THB 12.38 THB 67
Economic Profit
Residual Income 2.88 THB 3.48 THB 7.76 THB 76
ROIC Compounder 3.27 THB 4.09 THB 5.07 THB 67
Growth Earnings
Growth-Adj P/E 6.29 THB 8.99 THB 11.69 THB 68

Widest divergence: DCF Models (12.65 THB) versus Asset-Based (1.58 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.9B THB
Revenue growth (YoY) +4.0%
Net margin 8.0%
Return on equity 19.9%
Free cash flow 450M THB FY2025
P/E ratio 9.8
More key figures
Operating margin 8.3%
EPS (TTM) 0.4900 THB
Dividend yield 8.2%
EPS growth (YoY) +3.7%
Net debt 1.1B THB FY2025

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

Quality Score breakdown

Overall quality 70/100

Of which business quality 69 · Market factors (momentum, volatility) 76

Profitability 58
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 78
Distance to the 52-week high (market factor)
Net Issuance 71
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

Siamrajathanee Public Company Limited provides various outsourcing services in Thailand. The company operates through Outsourcing Service and Rental Services segments. It offers professional staff services, such as drivers, clerks, and technicians; car rental services; landscape management; and industrial waste disposal services.

Full company description

Siamrajathanee Public Company Limited provides various outsourcing services in Thailand. The company operates through Outsourcing Service and Rental Services segments. It offers professional staff services, such as drivers, clerks, and technicians; car rental services; landscape management; and industrial waste disposal services. In addition, the company offers data entry and digitization; and workflow and process automation systems services. Further, the company provides recruitment and employment agency services. The company was founded in 1976 and is headquartered in Phra Pradaeng, Thailand. Siamrajathanee Public Company Limited is a subsidiary of Krainao Property Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Siamrajathanee Public Company reported revenue of 2.8B THB in FY2025 versus 2.1B THB in FY2021, a compound +8.0%/yr. Reported net income was 228M THB in FY2025, compounding +7.9%/yr from FY2021.

Growth Quality 78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.8B THB
Latest YoY
+10.6%
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.
+8.2%
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.
+6.8%
Avg. growth/yr (10Y) 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.
+6.4%
Revenue +8.0%/yr
FY21 2.1B THB
FY22 2.2B THB
FY23 2.3B THB
FY24 2.6B THB
FY25 2.8B THB
Net income +7.9%/yr
FY21 168M THB
FY22 169M THB
FY23 184M THB
FY24 153M THB
FY25 228M THB
Character of growth · EPS growth decomposed (2015-2025) +1.1 % p.a.
Revenue per share +1.2 pp

of which total revenue +5.9 pp · buybacks/dilution −4.7 pp

EBIT margin −1.9 pp
Tax rate −0.2 pp
Residual (interest, one-offs) +1.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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

Peer Group

Specialty Business Services · 250 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 70 · Top 25%
Fair Value upside +71% · Top 25%
Return on equity (TTM) 20% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 4% · Below median
Dividend yield (TTM) 8.2% · Top 25%

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 9.8× · Cheaper than 75% of peers
P/B 1.96× · Pricier than median
P/S (TTM) 0.77× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 7.8× · Cheaper 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 100 · sector 28
FUTURE 20 · sector 25
PAST 80 · sector 33
HEALTH 0 · sector 90
DIVIDEND 100 · sector 53

Insider activity: 45/100

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 Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $205.28 $95.19 -54%
RELX PLC RELX $34.55 $32.24 -7%
Thomson Reuters Corporation TRI C$142.85 C$70.40 -51%
Copart, Inc CPRT $28.99 $28.59 -1%
Global Payments Inc GPN $88.53 $68.98 -22%
RB Global, Inc RBA C$120.52 C$49.14 -59%
Brambles Limited BXB A$19.89 A$12.28 -38%
UL Solutions Inc ULS $76.68 $33.62 -56%
Aramark ARMK $60.35 $13.18 -78%
ISS A/S ISS kr 288.20 kr 251.13 -13%

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Frequently asked questions

Is Siamrajathanee Public Company (SO) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 8.18 THB versus a price of 4.78 THB, about +71% (undervalued).
What is the fair value of SO?
Our model-based fair value for Siamrajathanee Public Company is 8.18 THB (as of Aug 13, 2026), built from audited fundamentals. The current price is 4.78 THB.
What is the quality score of SO?
Siamrajathanee Public Company has a Quality Score of 70/100. 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 Siamrajathanee Public Company (SO)?
Siamrajathanee Public Company reported trailing-twelve-month revenue of about 2.9B THB (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SO?
The net profit margin of Siamrajathanee Public Company is about 8.0%, meaning it keeps roughly 8.0% of revenue as net income. Based on the latest reported figures.
Does Siamrajathanee Public Company pay a dividend?
Siamrajathanee Public Company currently shows a dividend yield of about 8.19% relative to its recent price (as of Aug 13, 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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