FORTH.BK
Strong BuyUnloved QualityAI neutralForth Corporation Public Company Limited · Industrials · Thailand · $405M
THB 13.90 +6.9% · close 6 Oct · scored 7 Oct
StockRank up 1.9 since 6 Oct.
Unloved Quality: Strong and cheap; the market has not turned yet.
Does StockRank work? Each month we publish how every decile did, whichever way it went. See the record →
Forth Corporation is a Thai group spanning electronics manufacturing, telecom and smart-card systems, and a large network of vending and top-up kiosks through its Forth Smart subsidiary. The kiosk and vending networks are useful local payment infrastructure. Profits, however, come from a mix of businesses with different economics, and there is no recent news clarifying growth or capital allocation.
ABOUT FORTH CORPORATION PUBLIC COMPANY LIMITED
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Forth Corporation Public Company Limited, together with its subsidiaries, manufactures and distributes electronic equipment in Thailand, Netherlands, United States of America, and internationally.
FINANCIAL SUMMARY (THB)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 9.4B | 9.5B | 8.8B | 11.0B | 5.3% | 12.1B | 11.8B | 12.4B | 6.0% |
| EPS (THB) | 0.83 | 0.61 | 0.24 | 0.88 | 2.0% | 1.11 | 1.01 | 1.18 | 15.8% |
| Shares | 935.4M | 935.4M | 935.4M | 935.4M | 0.0% | 935.4M | — | — | — |
| Debt | 4.4B | 4.6B | 5.5B | 5.0B | 4.0% | 6.1B | — | — | — |
| Equity | 2.1B | 2.1B | 1.9B | 2.8B | 9.8% | — | — | — | — |
| Op CF | 894.3M | 2.0B | 358.5M | 1.5B | 18.0% | 1.2B | — | — | — |
| Inv CF | -1.7B | -1.2B | -517.9M | -444.5M | — | — | — | — | — |
| Fin CF | 769.1M | -648.5M | 185.7M | -708.2M | — | — | — | — | — |
Swung more than 86% of stocks we rank over the past year (75% a year).
How this is worked out
What it measures: day-to-day price moves over the past year, as a yearly figure, ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Industrials, ranked by industry match, size, and score similarity. Cross-listings of FORTH.BK are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| FORTH.BK | Forth Corporation Public Company Limited(you) | $405M | 81 | Strong Buy |
| TTA.BK | Thoresen Thai Agencies Public Company Limited | $294M | 75 | Buy |
| MBK.BK | MBK Public Company Limited | $852M | 87 | Strong Buy |
| SUC.BK | Saha-Union Public Company Limited | $246M | 69 | Buy |
| LOXLEY.BK | Loxley Public Company Limited | $127M | 88 | Strong Buy |
| BJC.BK | Berli Jucker Public Company Limited | $2.1B | 73 | Buy |
| VGI.BK | VGI Public Company Limited | $611M | 36 | Hold |
| SCC.BK | The Siam Cement Public Company Limited | $9.6B | 50 | Hold |
| DCC.BK | Dynasty Ceramic Public Company Limited | $366M | 81 | Strong Buy |
| BA.BK | Bangkok Airways Public Company Limited | $1.2B | 78 | Buy |
Peer medians: ROE 11.2% · P/E 11.1x · Gross margin 24.0%
Company Deep Dive
Business segments breakdown, earnings transcript analysis, management credibility scoring, competitive landscape, and scenario modelling.