Risk factor
Very poor trading liquidity
Profitability factor
Greatly undervalued vs peers
About
Filter Vision Public Company Limited, a Bangkok-headquartered enterprise founded in 1995, delivers comprehensive pure water treatment systems throughout Thailand. Its activities span the engineering, assembly, deployment, maintenance, and supply of these systems. The company's diverse water filtration offerings feature purification units, an array of filter housings—including single and multi-cartridge, bag, and standard cartridge types—and automated filters for iron/manganese removal, sand/multimedia processing, water softening, and catalytic oxidation. They also provide various filter cartridges such as spun, membrane, pleated, string wound, polypropylene, and carbon block options, alongside filter bags and bag vessel assemblies. Additionally, specialized water filters are available for food service, vending, coffee and ice machines, and general drinking water applications. Beyond filtration, Filter Vision supplies disinfection and sanitization solutions. This includes UV sterilizers and systems, ozone generators and spray bottles, barrier-free versacoolers, infection control hydro-ozonizers, bacteria-free ice systems, and complete ultraviolet disinfection setups. The company further extends its product line to food and beverage equipment, offering items like kettles, sandwich makers, steamers, food warmers, warmer machines, fryers, grill fryers, ice making machines, and drink dispensers, complemented by rainwater harvesting systems and associated accessories. A crucial aspect of their operations involves medical services. Filter Vision operates clinics for dialysis treatments and dedicated hemodialysis centers assisting patients with end-stage chronic kidney disease. They are also active in the distribution, leasing, and servicing of vital medical tools, diagnostic equipment, and a wide range of medical supplies and appliances. Their clientele encompasses commercial and residential users, industrial clients, original equipment manufacturers (OEMs), and the medical service industry.
Company Valuation
Based on key historical and expected multiples, the stock is greatly undervalued relative to its peers. Specifically, the stock is undervalued on EV/EBITDA.