Thai Wah PCL (BKK:TWPC) Cyclically Adjusted PS Ratio: 0.25 (As of Aug. 08, 2026) — 43% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BKK:TWPC Thai Wah PCL BKK:TWPC
77 GF Score
Price ฿2.86
GF Value ฿2.93
Valuation Fairly Valued
! 6 Warning Signs
View Full Analysis

What is Thai Wah PCL Cyclically Adjusted PS Ratio?

Thai Wah PCL BKK:TWPC +0.70% 77 Cyclically Adjusted PS Ratio is 0.25 as of Aug. 08, 2026, which is 43% below its 10-year median of 0.44. GuruFocus rates BKK:TWPC with a GF Score™ of 77/100 and a GF Value™ of ฿2.93 (Fairly Valued). The stock has 6 warning signs investors should review. Among 1,447 Consumer Packaged Goods companies, Thai Wah PCL ranks better than 81.13% on this metric.

As of today (2026-08-08), Thai Wah PCL's current share price is ฿2.86. Thai Wah PCL's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was ฿11.24. Thai Wah PCL's Cyclically Adjusted PS Ratio for today is 0.25.

The historical rank and industry rank for Thai Wah PCL's Cyclically Adjusted PS Ratio or its related term are showing as below:

BKK:TWPC' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.18   Med: 0.44   Max: 1.38
Current: 0.25

During the past years, Thai Wah PCL's highest Cyclically Adjusted PS Ratio was 1.38. The lowest was 0.18. And the median was 0.44.

BKK:TWPC's Cyclically Adjusted PS Ratio is ranked better than
81.13% of 1447 companies
in the Consumer Packaged Goods industry
Industry Median: 0.75 vs BKK:TWPC: 0.25

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Thai Wah PCL's adjusted revenue per share data for the three months ended in Mar. 2026 was ฿2.794. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is ฿11.24 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Thai Wah PCL  (BKK:TWPC) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Thai Wah PCL Cyclically Adjusted PS Ratio Related Terms


Thai Wah PCL Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Thai Wah PCL's Cyclically Adjusted PS Ratio 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.

Thai Wah PCL Cyclically Adjusted PS Ratio Chart

Thai Wah PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.53 0.47 0.36 0.24 0.26

Thai Wah PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.21 0.19 0.23 0.26 0.25

BKK:TWPC vs KHC, GIS: Cyclically Adjusted PS Ratio Comparison

For the Packaged Foods subindustry, Thai Wah PCL's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio 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.


Thai Wah PCL Cyclically Adjusted PS Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Thai Wah PCL's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Thai Wah PCL's Cyclically Adjusted PS Ratio falls into.


BKK:TWPC
77GF Score
Thai Wah PCL BKK:TWPC
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Thai Wah PCL Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Thai Wah PCL's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=2.86/11.24
=0.25

* 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.

Thai Wah PCL's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Thai Wah PCL's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=2.794/330.2130*330.2130
=2.794

Current CPI (Mar. 2026) = 330.2130.

Thai Wah PCL Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 1.515 241.018 2.076
201609 1.725 241.428 2.359
201612 2.026 241.432 2.771
201703 1.611 243.801 2.182
201706 1.646 244.955 2.219
201709 1.677 246.819 2.244
201712 2.182 246.524 2.923
201803 2.071 249.554 2.740
201806 1.766 251.989 2.314
201809 1.956 252.439 2.559
201812 2.440 251.233 3.207
201903 2.123 254.202 2.758
201906 1.999 256.143 2.577
201909 2.077 256.759 2.671
201912 2.119 256.974 2.723
202003 1.761 258.115 2.253
202006 1.940 257.797 2.485
202009 1.982 260.280 2.515
202012 2.371 260.474 3.006
202103 2.428 264.877 3.027
202106 2.514 271.696 3.055
202109 2.576 274.310 3.101
202112 2.824 278.802 3.345
202203 2.800 287.504 3.216
202206 3.104 296.311 3.459
202209 2.957 296.808 3.290
202212 2.976 296.797 3.311
202303 2.859 301.836 3.128
202306 2.804 305.109 3.035
202309 2.823 307.789 3.029
202312 3.134 306.746 3.374
202403 2.983 312.332 3.154
202406 2.716 314.175 2.855
202409 2.732 315.301 2.861
202412 2.970 315.605 3.107
202503 2.600 319.799 2.685
202506 2.613 322.561 2.675
202509 2.574 324.800 2.617
202512 2.658 324.054 2.709
202603 2.794 330.213 2.794

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 0.25 mean?
Thai Wah PCL (BKK:TWPC) has a Cyclically Adjusted PS Ratio of 0.25 as of Aug. 08, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Thai Wah PCL and its competitors. This is 43% below median its historical median of 0.44. Over the past decade, Thai Wah PCL's Cyclically Adjusted PS Ratio has ranged from 0.18 to 1.38. According to the industry distribution chart, Thai Wah PCL ranks #273 out of 1447 companies in the Consumer Packaged Goods industry, placing it in the top 18.9%.
Is Thai Wah PCL's Cyclically Adjusted PS Ratio too high?
Thai Wah PCL's current Cyclically Adjusted PS Ratio of 0.25 is 43% below median its 10-year median of 0.44. Over the past 10 years, this metric has ranged from a low of 0.18 to a high of 1.38. The Consumer Packaged Goods industry median Cyclically Adjusted PS Ratio is 0.75. Thai Wah PCL's value of 0.25 is 66.7% below this industry median. Based on the distribution chart, Thai Wah PCL ranks #273 out of 1447 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Thai Wah PCL has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Thai Wah PCL's Cyclically Adjusted PS Ratio compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Thai Wah PCL ranks #273 out of 1447 companies for Cyclically Adjusted PS Ratio. This places Thai Wah PCL in the top 19% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 0.75. Thai Wah PCL's value of 0.25 is 66.7% below this benchmark. Historically, Thai Wah PCL's own Cyclically Adjusted PS Ratio has ranged from 0.18 to 1.38 over the past decade. While the company's 10-year median is 0.44 vs. the industry median of 0.75, Thai Wah 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 Cyclically Adjusted PS Ratio for a Consumer Packaged Goods company?
The median Cyclically Adjusted PS Ratio among Consumer Packaged Goods companies is 0.75, based on 1,447 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thai Wah PCL's current Cyclically Adjusted PS Ratio of 0.25 is 66.7% 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 Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Thai Wah PCL and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PS Ratio is 0.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Wah PCL's current Cyclically Adjusted PS Ratio is 0.25, which is 43% below median its own 10-year median of 0.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Wah PCL stock overvalued right now?
Based on GuruFocus' analysis, Thai Wah PCL (BKK:TWPC) is currently considered Fairly Valued. The stock's GF Value™ is ฿2.93, compared to a current price of ฿2.86 — trading 2.4% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.25, which is 43% below median its 10-year median of 0.44 and 66.7% below the Consumer Packaged Goods industry median of 0.75. Thai Wah PCL's overall GF Score™ is 77/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Thai Wah PCL (BKK:TWPC), the current Cyclically Adjusted PS Ratio is 0.25 as of Aug. 08, 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 Thai Wah PCL (BKK:TWPC) Overvalued in 2026?

Based on GuruFocus' analysis, Thai Wah PCL stock appears to be undervalued. The current stock price of ฿2.86 is trading 2.4% below its estimated GF Value™ of ฿2.93. GuruFocus considers Thai Wah PCL to be Fairly Valued.

Key valuation signals for BKK:TWPC:

  • Cyclically Adjusted PS Ratio: 0.25 (43% below median its 10-year median of 0.44)
  • GF Value™: ฿2.93 vs. price of ฿2.86 (2.4% below fair value)
  • GF Score™: 77/100 with 6 warning signs
  • Industry Position: 66.7% below the Consumer Packaged Goods median (#273 of 1447)

No single metric tells the full story. See the BKK:TWPC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Thai Wah PCL Business Description

Address South Sathorn Road, 21/11, 21/13 Thai Wah Tower 1 Building, 6th Floor, Tungmahamek, Sathorn, Bangkok, THA, 10120
Thai Wah PCL is engaged in the manufacture and distribution of vermicelli, tapioca starch and other food products. Its products include Starch & Starch-Related Products such as Tapioca Flour & Starch, Modified Starch, Glucose Syrup, Tapioca Pearl, Alpha Starch, Rice Flour & Starch, and Organic Products; Food Products such as Bean Vermicelli, Rice Noodles, Rice Vermicelli, Starch, Flour And Pearl, and Meal Kit And Instant Noodles. Its segments include the manufacture and distribution of starch, the manufacture and distribution of vermicelli and other food products, and the manufacture and distribution of other agricultural products.
77GF Score

Get the complete analysis for BKK:TWPC

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

฿2.86
Price
฿2.93
GF Value