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TPI Polene PCL
SET:TPIPL

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TPI Polene PCL
SET:TPIPL
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Price: 0.82 THB Market Closed
Market Cap: ฿15.5B

EV/S

2.1
Current
1%
Cheaper
vs 3-y average of 2.1

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
2.1
=
Enterprise Value
฿71.1B
/
Revenue
฿34.6B

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
2.1
=
Enterprise Value
฿71.1B
/
Revenue
฿34.6B

Valuation Scenarios

TPI Polene PCL is trading below its 3-year average

If EV/S returns to its 3-Year Average (2.1), the stock would be worth ฿0.83 (1% upside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-53%
Maximum Upside
+1%
Average Downside
18%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 2.1 ฿0.82
0%
3-Year Average 2.1 ฿0.83
+1%
5-Year Average 1.9 ฿0.76
-7%
Industry Average 1 ฿0.38
-53%
Country Average 1.8 ฿0.71
-13%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
฿71.1B
/
Jan 2026
฿34.6B
=
2.1
Current
฿71.1B
/
Dec 2026
฿45B
=
1.6
Forward

Forward EV/S shows whether today’s EV/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
Market Cap EV/S P/E
TH
TPI Polene PCL
SET:TPIPL
15.5B THB 2.1 7.8
IE
CRH PLC
NYSE:CRH
78.9B USD 2.5 21
CH
Holcim AG
SIX:HOLN
39.8B CHF 2.7 3.1
DE
HeidelbergCement AG
XETRA:HEI
32.8B EUR 1.7 16.9
US
Vulcan Materials Co
NYSE:VMC
38.1B USD 5.3 35.4
IN
UltraTech Cement Ltd
NSE:ULTRACEMCO
3.6T INR 4.1 48.6
US
Martin Marietta Materials Inc
NYSE:MLM
37.1B USD 6.9 32.6
US
Amrize AG
SIX:AMRZ
24.4B CHF 2.9 25.9
DE
Heidelberg Materials AG
XMUN:HEI
21.7B EUR 1.2 11.2
IN
Grasim Industries Ltd
NSE:GRASIM
1.9T INR 1.8 44.3
CN
China Jushi Co Ltd
SSE:600176
133B CNY 7.6 40.5

Market Distribution

In line with most companies in Thailand
Percentile
55th
Based on 392 companies
55th percentile
2.1
Low
0 — 1
Typical Range
1 — 3.1
High
3.1 —
Distribution Statistics
Thailand
Min 0
30th Percentile 1
Median 1.8
70th Percentile 3.1
Max 309.3

TPI Polene PCL
Glance View

Market Cap
15.5B THB
Industry
Construction

TPI Polene Public Co. Ltd. engages in the manufacturing and distribution of cement, concrete and plastic resins. The company is headquartered in Bangkok, Bangkok Metropolis. The firm is also engaged in businesses through associated companies for the manufacture and distribution of ammonium nitrate and nitric acid, steel products and the provision of life insurance services, among others. Its segments include Construction Materials, Petrochemical & Chemicals, Energy & Utilities, and Agriculture. The firm operates in three industries and has about 18 distribution terminals around the country. The company operates in the cement industry at Kang-Khoi, Saraburi and has eight plants consisting of four cement manufacturing plants and four dry mortar manufacturing plants. The company operates in the construction materials industry at Amphur Chalermprakiet, Saraburi and has cement roof tiles and fiber cement board manufacturing plants.

TPIPL Intrinsic Value
2.77 THB
Undervaluation 70%
Intrinsic Value
Price ฿0.82
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