Obermatt

Thai Wah

SET:TWPC · TH6820010002
Food ProductsSmall

360

98
EV / EBIT30
Price / Owner Earnings31
Owner Earnings Yield64
Dividend Yield57
Price/Sales93
EV / Gross Profit73
Price/Book96
Return on Capital42
Cash Return on Capital45
Return on Equity37
EBIT Margin41
Gross Profitability58
Cash Conversion81
Accruals59
Owner Earnings Margin45
Sales growth56
Profit Growth8
Long-Term EPS Growth100
Owner Earnings Growth72
Reinvestment93
Price momentum82
Debt load54
Refinancing80
Debt Payback60
Liquidity51
Analyst ratings100
Opinion Changes50
Price Target Upside55
Market mood76
Value Creation12/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Thai Wah clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryThailand
IndustryFood Products
SizeSmall
TypePublic Company
ExchangeSET
Founded1947
Employees127
ISINTH6820010002
Last UpdateApr 2, 2026
Themes
Bio-based and Renewable MaterialsAnimal FeedPackaging ServicesNutraceuticalGreen Consumer GoodsFast-Moving Consumer GoodsOrganicFood and BeverageManufacturing

Description

Thai Wah Public Company Limited manufactures and distributes vermicelli, starch, and other food and agricultural products. Business Strategy The company’s business strategy revolves around fostering sustainable growth through diversified product of…

Analysis

Middle-of-the-road

Thai Wah Public Company Limited is a middle-of-the-road business: neither the economics nor the price stand out from the peer group.

The price is attractive. You pay 12.1× its owner earnings: the cash an owner could take out each year, which is in the historically attractive zone. At today's price, the market is assuming roughly -1% yearly growth; analysts expect 30%. The price, in other words, assumes less than the experts do.

The trajectory is solid and accelerating and the balance sheet is sturdy. The company scores 12/20 on our value-creation score: creating some value. Analysts lean positive.

Nothing is flagged here: no red or amber gates, no divergence between profits and cash. That is itself information: the numbers are straightforward. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
95
2026

All-time high

95

Jun 2026

All-time low

91

Mar 2026

Average rank

93

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
93
Price/Earnings
55
Price/Book
96
Dividend Yield
57
Value (overall)
88

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →