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TQM

SET:TQM · TH8878010Z01
InsuranceSmall

360

86
EV / EBIT67
Price / Owner Earnings46
Owner Earnings Yield43
Dividend Yield100
Price/Sales47
EV / Gross Profit42
Price/Book4
Returns on capital93
Profit margins94
Cash Conversion45
Accruals58
Owner Earnings Margin91
Sales growth48
Profit Growth11
Long-Term EPS Growth32
Owner Earnings Growth45
Reinvestment94
Price momentum30
Debt load59
Debt serviceability51
Liquidity79
Analyst ratings79
Opinion Changes50
Price Target Upside46
Market mood80
Value Creation12/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

TQM clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountrySingapore
IndustryInsurance
SizeSmall
TypePublic Company
ExchangeSET
Founded2018
Employees11
Websitetqmalpha.com/en/home
ISINTH8878010Z01
Last UpdateApr 2, 2026
Indices
SET (Thailand)
Themes
InsurtechEmployee BenefitsInsurance

Description

TQM Alpha Public Company Limited is primarily engaged in the non-life and life insurance brokerage business. It undertakes various activities including investment in companies involved in non-life and life insurance brokerage and provides management,…

Analysis

Quality compounder

TQM Alpha Public Company Limited is a quality compounder: a well-run business trading at a price that reflects what it is worth.

The price is attractive. You pay 9.9× its owner earnings: the cash an owner could take out each year, which is in the historically attractive zone.

The trajectory is moderate and the balance sheet is sturdy. The company scores 12/20 on our value-creation score: creating some value.

Nothing is flagged here: no red or amber gates, no divergence between profits and cash. That is itself information: the numbers are straightforward. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
74
2023202420252026

All-time high

74

Jun 2026

All-time low

8

Jan 2024

Average rank

49

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
47
54
35
20
Price/Earnings
42
42
18
13
Price/Book
4
16
5
3
Dividend Yield
100
88
63
57
Value (overall)
34
55
29
15

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →