Delta Electronics (Thailand) Public Company Limited

DLS.F · Industrials · Electrical Equipment & Parts · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

10.85B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

14.61B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

3.17B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

9.55B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

99.35B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.10×

the ratio the screener ranks by

Margin of Safety

-940.7%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 10.85B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)8.13B USD
+②Net Cash Today418.93M USD
+③Growth Value2.30B USD
=Value10.85B USD

EPV of the Operations (NOPAT over WACC)

8.13B USD

Net cash today

+418.93M USD

Growth Value

+2.30B USD

Value

10.85B USD

①EPV (earnings power value)

8.13B USD

②Net Cash Today

418.93M USD

③Growth Value

2.30B USD

Market value

Market Cap99.35B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-815.4%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 14.61B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE9.83B USD
+②Equity at Year 15, Today4.78B USD
=Value14.61B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

9.83B USD

②Equity at Year 15, Today

4.78B USD

Market value

Market Cap99.35B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-579.9%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 3.17B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 3.17B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Cash Today

Not in the value

Market value

Market Cap99.35B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-3030.6%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 9.04%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.76×Market Risk Premium 6.00%= 9.05%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 129.62M USDPretax Income 919.42M USD= 14.10%

The tax the interest saves.

Interest Expense =EBIT 921.45M USD−Pretax Income 919.42M USD= 2.03M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 2.03M USDTotal Debt 128.90M USD×(1 − Tax Rate for WACC 14.10%)= 1.35%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 128.90M USDMarket Cap + Total Debt 99.35B USD + 128.90M USD= 0.13%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 99.87%×Cost of Equity 9.05%+Debt Weight 0.13%×Cost of Debt 1.35%= 9.04%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 5.78B USD − Total Liabilities 2.60B USD = Book Value Today 3.17B USD

Total Debt 128.90M USD − Cash and Short-Term Investments 547.82M USD = Net Debt Today -418.93M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 10.0%at most 5%passes12,473,816,140 / 12,473,816,140
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets1.8%at least -10.0%passes(893.67M USD − 789.80M USD) ÷ 5.78B USD
Price to bookMarket Cap ÷ Book Value Today31.31×at most 3×does not pass99.35B USD ÷ 3.17B USD
Operating marginOperating Income ÷ Revenue13.6%above 10.0%passes858.10M USD ÷ 6.31B USD
Revenue growthRevenue ÷ Revenue a Year Before − 130.6%above 10.0%passes6.31B USD / 4.83B USD
Net cash(Cash − Total Debt) ÷ Market Cap0.4%above -30%passes(547.82M USD − 128.90M USD) ÷ 99.35B USD
Operating efficiencyOperating Income ÷ Gross Profit50.3%above 25.0%passes858.10M USD ÷ 1.71B USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

6.61 EUR

Enterprise value

70.35B EUR

the provider's own figure

EV / EBITDA

1.73×

Price / book

29.78×

the provider's book

Price / earnings

94.29×

Return on equity

31.5%

the provider's figure, not this page's

Profit margin

12.5%

Revenue growth

47.4%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

3.43B4.27B4.83B6.31B

Gross profit

808.80M977.67M1.19B1.71B

Operating income

431.78M531.31M547.50M858.10M

EBITDA

operating income before depreciation and amortisation

550.59M706.82M781.52M1.18B

Pretax income

457.70M569.12M579.05M919.42M

Net income

444.18M537.79M555.30M789.80M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

420.33M504.11M528.34M742.34M

R&D

108.32M113.16M117.15M189.18M
Balance sheet, year end

Total assets

2.63B3.16B3.61B4.91B

Total liabilities

1.05B1.19B1.27B1.83B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

1.58B1.97B2.34B3.08B

Total debt

56.21M104.40M42.70M46.65M

Cash and equivalents

293.58M222.36M460.37M645.73M

Net PP&E

fixed assets after depreciation

671.06M881.78M1.12B1.47B

Working capital

current assets less current liabilities

965.56M1.15B1.29B1.65B
Cash flow

Operating cash flow

393.57M388.63M916.25M893.67M

Capital expenditure

paid out, so below zero

-229.77M-338.34M-437.73M-477.02M

Depreciation and amortisation

92.33M134.51M197.57M260.81M

Free cash flow

operating cash flow plus capital expenditure

163.81M50.29M478.52M416.64M