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Forth PCLBKK:FORTH-R 84 Capex-to-Operating-Income is 0.41 as of Mar. 2026, which is 57% below its 10-year median of 0.96. GuruFocus rates BKK:FORTH-R with a GF Score™ of 84/100 and a GF Value™ of ฿5.89. The stock has 10 warning signs investors should review. Among 315 Conglomerates companies, Forth PCL ranks better than 51.11% on this metric.
Capex-to-Operating-Income measures a company's investments in physical assets such as property, industrial buildings or equipment to its operating income.
Capex-to-Operating-Income assesses how much emphasis a company is placing upon investing in capital-intensive projects. The ratio is generally a good gauge to quantify how much focus on growth a company has. Typically, smaller companies that are still growing and expanding will have a higher Capex to Operating Income Ratio, since such businesses are likely investing more in physical assets. Lower ratios could indicate that a company has reached maturity and it is no longer pursuing aggressive growth.
Forth PCL Capex-to-Operating-Income Related Terms
Forth PCL Capex-to-Operating-Income Historical Data
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The historical data trend for Forth PCL's Capex-to-Operating-Income can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BKK:FORTH-R vs HON, MMM: Capex-to-Operating-Income Comparison
For the Conglomerates subindustry, Forth PCL's Capex-to-Operating-Income, along with its competitors' market caps and Capex-to-Operating-Income data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Forth PCL Capex-to-Operating-Income vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Forth PCL's Capex-to-Operating-Income distribution charts can be found below:
* The bar in red indicates where Forth PCL's Capex-to-Operating-Income falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Capex-to-Operating-Income of 0.41 mean?
Forth PCL (BKK:FORTH-R) has a Capex-to-Operating-Income of 0.41 as of Mar. 2026. Capex to Operating Income ratio measures a company's investments in physical assets to its operating income. View historical data on Forth PCL and its competitors. This is 57% below median its historical median of 0.96. Over the past decade, Forth PCL's Capex-to-Operating-Income has ranged from 0.38 to 2.01. According to the industry distribution chart, Forth PCL ranks #154 out of 315 companies in the Conglomerates industry, placing it in the top 48.9%.
Is Forth PCL's Capex-to-Operating-Income too high?
Forth PCL's current Capex-to-Operating-Income of 0.41 is 57% below median its 10-year median of 0.96. Over the past 10 years, this metric has ranged from a low of 0.38 to a high of 2.01. The Conglomerates industry median Capex-to-Operating-Income is 0.45. Forth PCL's value of 0.41 is 8.9% below this industry median. Based on the distribution chart, Forth PCL ranks #154 out of 315 companies in the Conglomerates industry, which is above the industry midpoint. Overall, Forth PCL has a GF Score™ of 84/100, reflecting its overall financial health beyond just this single metric.
How does Forth PCL's Capex-to-Operating-Income compare to HON and MMM?
According to the Conglomerates industry distribution chart, Forth PCL ranks #154 out of 315 companies for Capex-to-Operating-Income. This puts Forth PCL in the upper half of its industry. The industry median Capex-to-Operating-Income is 0.45. Forth PCL's value of 0.41 is 8.9% below this benchmark. Historically, Forth PCL's own Capex-to-Operating-Income has ranged from 0.38 to 2.01 over the past decade. While the company's 10-year median is 0.96 vs. the industry median of 0.45, Forth PCL has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Capex-to-Operating-Income for a Conglomerates company?
The median Capex-to-Operating-Income among Conglomerates companies is 0.45, based on 315 companies in the industry. Companies in the top quartile (top 25%) have a Capex-to-Operating-Income significantly above this median, while those in the bottom quartile fall well below. However, Capex-to-Operating-Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Forth PCL's current Capex-to-Operating-Income of 0.41 is 8.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Capex-to-Operating-Income mean?
A high Capex-to-Operating-Income can signal that a stock is expensive relative to its fundamentals. Capex to Operating Income ratio measures a company's investments in physical assets to its operating income. View historical data on Forth PCL and its competitors. For the Conglomerates industry, the median Capex-to-Operating-Income is 0.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forth PCL's current Capex-to-Operating-Income is 0.41, which is 57% below median its own 10-year median of 0.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forth PCL stock overvalued right now?
Forth PCL (BKK:FORTH-R) has a current Capex-to-Operating-Income of 0.41. The stock's GF Value™ is ฿5.89, compared to a current price of ฿6.44 — trading 9.3% above its estimated fair value. The current Capex-to-Operating-Income is 0.41, which is 57% below median its 10-year median of 0.96 and 8.9% below the Conglomerates industry median of 0.45. Forth PCL's overall GF Score™ is 84/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Capex-to-Operating-Income calculated?
Capex-to-Operating-Income is calculated from a company's financial statements. For Forth PCL (BKK:FORTH-R), the current Capex-to-Operating-Income is 0.41 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Forth PCL (BKK:FORTH-R) Overvalued in 2026?
Based on GuruFocus' analysis, Forth PCL stock appears to be overvalued.
The current stock price of ฿6.44 is trading 9.3% above its estimated GF Value™ of ฿5.89.
Key valuation signals for BKK:FORTH-R:
Capex-to-Operating-Income: 0.41 (57% below median its 10-year median of 0.96)
GF Value™: ฿5.89 vs. price of ฿6.44 (9.3% above fair value)
Industry Position: 8.9% below the Conglomerates median (#154 of 315)
No single metric tells the full story. See the BKK:FORTH-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forth Corp PCL manufactures and distributes electronic equipment and project work relating to design and install telecommunication equipment. The company's segments include Electronics manufacturing service business sources, manufactures and distributes electronics parts, both work manufactured order and general equipment; Enterprise solutions business bids for project work, sources, subcontracts and install various systems for the government and private sectors; Smart service business provides online financial transaction service and sells products and service through vending machines and provides lending services. The Enterprise solutions business derives the majority of the revenue. Geographically it operates in Thailand, Netherlands, United States of America, and Others.
84GF Score
Get the complete analysis for BKK:FORTH-R
Capex-to-Operating-Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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