Goodwill - Tpcs PCL (SET:TPCS)

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Price: 9.5 THB 0.53% Market Closed

Market Cap: ฿1B

Tpcs PCL
Goodwill

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Tpcs PCL
Goodwill Peer Comparison

Company		Goodwill	CAGR 3Y	CAGR 5Y	CAGR 10Y
T	Tpcs PCL SET:TPCS	Goodwill N/A	CAGR 3-Years N/A	CAGR 5-Years N/A	CAGR 10-Years N/A
C	CPL Group PCL SET:CPL	Goodwill N/A	CAGR 3-Years N/A	CAGR 5-Years N/A	CAGR 10-Years N/A
T	Toray Textiles Thailand PCL SET:TTT	Goodwill N/A	CAGR 3-Years N/A	CAGR 5-Years N/A	CAGR 10-Years N/A
C	Chai Watana Tannery Group PCL SET:CWT	Goodwill ฿44.2m	CAGR 3-Years N/A	CAGR 5-Years N/A	CAGR 10-Years N/A
T	Thai Textile Industry PCL SET:TTI	Goodwill N/A	CAGR 3-Years N/A	CAGR 5-Years N/A	CAGR 10-Years N/A
U	Union Pioneer PCL SET:UPF	Goodwill N/A	CAGR 3-Years N/A	CAGR 5-Years N/A	CAGR 10-Years N/A

Tpcs PCL
Glance View

Market Cap

1B THB

Industry

Textiles, Apparel & Luxury Goods

TPCS Public Co. Ltd. engages in the manufacture and distribution of non-woven fabric. The company is headquartered in Bangkok, Bangkok Metropolis. The firm operates through two segments: Products for industries and Products for sanitation and household and others. Its products for the automotive and factory industries include roofing cloth, car floor mats, air filters, insulation sheets, motorcycle seats, sunshade, the lining of ladies' bras, sweaters, furniture and others. Its hygiene products include pads or supports for the back, wrists and ankles and others. Its household products include bedding, pillows, duvet covers, mattresses and baby appliances. Its healthcare products include masks, medical device wrap and bouffant caps, disposable personal protective equipment (PPE) gowns and others. Its subsidiaries include TPCNIC Co., Ltd. and TPCX Co., Ltd.

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TPCS Intrinsic Value

Undervaluation 43%

Intrinsic Value

Price

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

The AI Assistant may sometimes provide inaccurate information.

Make your own investment decisions or consult a licensed financial advisor.

Tpcs PCL
SET:TPCS

Tpcs PCL
Goodwill

Tpcs PCL
Goodwill Peer Comparison

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Tpcs PCL
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52 Week Range	9.45 13.6
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Tpcs PCL SET:TPCS

Tpcs PCL Goodwill

Tpcs PCL Goodwill Peer Comparison

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Tpcs PCL Glance View

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Tpcs PCL
SET:TPCS

Tpcs PCL
Goodwill

Tpcs PCL
Goodwill Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

Tpcs PCL
Glance View