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Harn Engineering Solutions Public Company Limited (HARN.BK)

THB2.04 -0.02 (-0.97%)
TH SET Industrials Security & Protection Services
Address 559 Soi Soonvijai 4 10310
Bangkok, TH
CEO Thammanoon Tripetchr
Website harn.co.th
IPO 2014-11-13
ISIN TH6050010Y00

Explore sections of this company profile

Description

Harn Engineering Solutions Public Company Limited, a Bangkok, Thailand-based company established in 2001, provides a wide array of engineering and technological services. Initially known as Fire Victor Public Company Limited, the firm adopted its current name in November 2016. Operating within Thailand, the company specializes in fire protection, handling the wholesale, retail, repair, rental, leasing, contracting, and installation of fire safety systems and suppression agents. Their comprehensive offerings in this sector include essential items like sprinklers, fire hose cabinets, floor control valves, pump room equipment, and fire extinguishers. Beyond fire safety, Harn offers extensive refrigeration solutions, supplying compressors, unit coolers, controllers, inverters, condensing units, refrigerants, fans, and advanced cooling system control devices. The firm also extends its expertise to air-conditioning and sanitary systems, providing products such as chillers, cooling towers, PICV, and air handling and fan coil units. Moreover, the company is a significant provider of digital printing solutions, encompassing coding and marking technologies, variable QR/2D coding, digital color label presses, and robust after-sales support. This segment further includes 3D printers, specialized software packages, scanners, and diverse printing services. Harn also engages in the trade of cold storage devices, as well as the sale, repair, and rental of printing equipment, and delivers innovative smart building business solutions.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
THB2.04 -0.02 (-0.97%)
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Volume Profile
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Liquidity & share structure
Average Volume
393.8K
Beta
0.03
Float Shares
100.39M
Free Float %
17.2%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+1.01% +2.04% -0.99% +0.00% +2.56% +2.56% -3.85% -6.54% -23.08% -14.53% -59.51%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
2.04
DCF (Unlevered) 6.05 +196.5%
DCF (Levered) 16.65 +716.1%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Quality scores
Altman Z-Score
3.41
Safe zone
Piotroski F-Score
6 / 9
Average
MOAT Score
3 / 10
No MOAT
Composite Rating
A
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
3 / 5
Medium
ROA Score
4 / 5
High
D/E Score
3 / 5
Medium
P/E Score
4 / 5
High
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Security & Protection Services: +5.0%
    -4.7% Q1'26: +10.7% (vs Q1'25)
  • EPS growth Security & Protection Services: +23.5%
    -6.7% Q1'26: +108.1% (vs Q1'25)
  • FCF margin FCF growth · Security & Protection Services: +20.2%
    +14.6% Q1'26: +2.0% (vs Q1'25)
  • EBIT margin Security & Protection Services: +8.9%
    +6.5% Q1'26: +10.4% (vs Q1'25)
  • ROIC Security & Protection Services: +6.4%
    +6.0% Q1'26: +11.4% (vs Q1'25)
  • Share dilution Security & Protection Services: +0.1%
    +0.0% Q1'26: +0.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Security & Protection Services: -0.99×
    1.83× Q1'26: 0.60× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.02) × ERP
WACC = 86% × Ke + 14% × Kd (4.3%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 6.01 Current price: 2.04
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Dec 2027
1 Rev. Ana.
1 EPS Ana.
Dec 2028
1 Rev. Ana.
1 EPS Ana.
Revenue
1.29B
est: 1.30B (-1.3%)
1.34B
est: 1.43B (-6.2%)
1.37B
est: 1.35B (+1.1%)
1.15B
est: 1.43B (-19.2%)
1.03B
est: 1.51B (-32.2%)
1.24B
est: 1.30B (-4.9%)
1.18B
est: 1.43B (-17.6%)
1.35B
1.35B – 1.35B
-5.7% YoY
1.43B
1.43B – 1.43B
+5.5% YoY
1.51B
1.51B – 1.51B
+6.1% YoY
EBITDA
192.07M
est: 169.02M (+13.6%)
198.63M
est: 185.89M (+6.9%)
216.72M
est: 175.38M (+23.6%)
156.80M
est: 185.11M (-15.3%)
136.38M
est: 196.39M (-30.6%)
142.65M
est: 156.69M (-9.0%)
104.83M
est: 172.32M (-39.2%)
162.58M
162.58M – 162.58M
-5.7% YoY
171.60M
171.60M – 171.60M
+5.5% YoY
182.06M
182.06M – 182.06M
+6.1% YoY
EBIT
161.14M
est: 125.91M (+28.0%)
167.51M
est: 138.47M (+21.0%)
186.95M
est: 130.64M (+43.1%)
121.80M
est: 137.89M (-11.7%)
92.35M
est: 146.30M (-36.9%)
114.13M
est: 115.40M (-1.1%)
77.22M
est: 126.92M (-39.2%)
119.74M
119.74M – 119.74M
-5.7% YoY
126.38M
126.38M – 126.38M
+5.5% YoY
134.09M
134.09M – 134.09M
+6.1% YoY
Net Income
129.68M
est: 122.75M (+5.6%)
134.36M
est: 146.13M (-8.1%)
149.62M
est: 140.28M (+6.7%)
97.98M
est: 157.82M (-37.9%)
72.27M
est: 175.35M (-58.8%)
87.60M
est: 122.75M (-28.6%)
83.90M
est: 146.13M (-42.6%)
140.28M
140.28M – 140.28M
-4.0% YoY
157.82M
157.82M – 157.82M
+12.5% YoY
175.35M
175.35M – 175.35M
+11.1% YoY
SGA
234.53M
est: 276.58M (-15.2%)
257.28M
est: 304.18M (-15.4%)
258.34M
est: 286.98M (-10.0%)
244.62M
est: 302.90M (-19.2%)
240.07M
est: 321.37M (-25.3%)
245.71M
est: 276.63M (-11.2%)
250.91M
est: 304.22M (-17.5%)
287.03M
287.03M – 287.03M
-5.7% YoY
302.95M
302.95M – 302.95M
+5.5% YoY
321.42M
321.42M – 321.42M
+6.1% YoY
EPS
0.22
est: 0.21 (+4.8%)
0.23
est: 0.25 (-8.0%)
0.26
est: 0.24 (+8.3%)
0.17
est: 0.27 (-37.0%)
0.12
est: 0.30 (-60.0%)
0.15
est: 0.21 (-28.6%)
0.14
est: 0.25 (-44.0%)
0.24
0.24 – 0.24
-4.0% YoY
0.27
0.27 – 0.27
+12.5% YoY
0.30
0.30 – 0.30
+11.1% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-22 A 4/5 5/5 3/5 4/5 3/5 4/5 4/5
2026-05-21 A 4/5 5/5 3/5 4/5 3/5 3/5 4/5
2026-05-20 A 4/5 5/5 3/5 4/5 3/5 3/5 4/5
2026-05-19 A 4/5 5/5 3/5 4/5 3/5 3/5 4/5
2026-05-18 A 4/5 5/5 3/5 4/5 3/5 3/5 4/5
2026-05-15 A 4/5 5/5 3/5 4/5 3/5 4/5 4/5
2026-05-14 A 4/5 5/5 3/5 4/5 3/5 4/5 4/5
2026-05-13 A 4/5 5/5 3/5 4/5 3/5 4/5 4/5
2026-05-12 A 4/5 5/5 3/5 4/5 3/5 4/5 4/5
2026-05-11 A 4/5 5/5 3/5 4/5 3/5 4/5 4/5
2026-05-08 A+ 4/5 5/5 3/5 4/5 3/5 4/5 5/5
2026-05-07 A+ 4/5 5/5 3/5 4/5 3/5 4/5 5/5
2026-05-06 A+ 4/5 5/5 3/5 4/5 3/5 4/5 5/5
2026-05-05 A+ 4/5 5/5 3/5 4/5 3/5 4/5 5/5
2026-04-30 A 4/5 5/5 3/5 4/5 3/5 4/5 4/5
2026-04-29 A- 4/5 5/5 2/5 4/5 2/5 4/5 4/5
2026-04-28 A- 4/5 5/5 2/5 4/5 2/5 4/5 4/5
2026-04-27 A- 4/5 5/5 2/5 4/5 2/5 4/5 4/5
2026-04-24 A- 4/5 5/5 2/5 4/5 2/5 4/5 4/5
2026-04-23 A- 4/5 5/5 2/5 5/5 2/5 3/5 4/5
2026-04-22 A- 4/5 5/5 2/5 5/5 2/5 3/5 4/5
2026-04-21 A- 4/5 5/5 2/5 5/5 2/5 3/5 4/5
2026-04-20 A- 4/5 5/5 2/5 5/5 2/5 3/5 4/5
2026-04-17 A- 4/5 5/5 2/5 5/5 2/5 3/5 4/5
2026-04-16 A- 4/5 5/5 2/5 5/5 2/5 3/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
152.26M
OE per share TTM
0.26
Owner's Yield
13.03%
Maintenance CapEx ratio
8.08%
Maint CapEx / Avg PPE
14.7%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock

This company is not held by any ETF in our universe.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
321.8K
Shares Outstanding
584.50M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Wirat Sukchai Chief Marketing Officer of Refrigeration System & Director 450.0K male
Ananya Proyngoen Accounting Manager female
Kittiphong Kittimethawenun Sales Director of Refrigeration System male
Nittaya Maetineewattanavong Company Secretary female
Pongsawat Penglengpol Sales Special Products Director male
Pracha Phromphornchai Project Sales Director of Fire Protection System, Air-Conditioning System & Sanitary male
Rattanaphan Mukhariwattananon Chief Marketing Officer of Safety & Comfortable male
Suchat Suwatnodom Project Sales Director of Petrochemical- Fire Protection System, Air-conditioning System & Sanitary male
Sukit Litikorn Engineering Support Director of Refrigeration System male
Thammanoon Tripetchr CEO, CMO and Acting MD of Printing System System & Director male
Varinkan Teraumranon Chief Operating Officer female
Wisit Wachiralappaitoon Chief Financial Officer male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits