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CP ALL Public Company Limited (CPALL) Fair Value & Analysis

Consumer Defensive · TH · Market cap 412B THB (≈ $12.5B) · ISIN TH0737010Y08

What is CP ALL Public Company Limited really worth?

CA CP ALL Public Company Limited CPALL · BK
Price46.25 THB
Fair Value53.81 THB
Upside+16.4%
Quality50/100

A solid business, trading 14% below our fair value of 53.81 THB.

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Strengths

Healthy Growth (revenue 5y +13.5 %/yr)
Moderate debt · generates free cash flow
Ranks above peers (9/15)

Risks

!Thin margins · 2.9% net margin
!Narrow moat 44/100
!Weak on future: 29 out of 100

For context

·3.57% dividend yield
Evidence: High Range 31.26 THB – 67.26 THB

Fair value as of: Aug 29, 2026

From 24 valuation models · updated 7 days ago

Share price −6.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A fairly wide model range (31.26 THB to 67.26 THB) leaves room in how you read the outcome.
  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

66.52 THB 39.51 THB Fair Value 53.81 THB Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range 39.51 THB – 66.52 THB · fair‑value band 31.26 THB – 67.26 THB · the 46.25 THB price screens below the 53.81 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

CP ALL Public Company Limited (CPALL) currently trades at 46.25 THB, while our model-based Fair Value estimate is 53.81 THB, implying the stock looks roughly 14.1% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of 62.66 THB per share, and 13 of the 24 models we run sit above the 46.25 THB price. Bear case: the Dividend Discount group reads lowest at 23.41 THB, and 11 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, CP ALL Public Company Limited generated revenue of 1.0T THB at a net margin of 2.9%. Revenue grew 5.8% year over year. It earns a return on equity of 10.0%. Net debt stands at 503B THB. Fundamentals as of Aug 29, 2026

Our scenario range runs from 31.26 THB (bear case) to 67.26 THB (bull case); at 46.25 THB, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 12% below its 52-week high and 18% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −27% fair-value upside, at 16%, CPALL screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 1.11 THB per share, which is 2.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income 32.00 THB 34.86 THB 46.41 THB 76
FCF DCF 34.74 THB 82.81 THB 169.11 THB 75
Growth DCF 34.67 THB 80.06 THB 161.13 THB 73
All 24 models by family
DCF Models
FCF DCF 34.74 THB 82.81 THB 169.11 THB 75
Owner Earnings 38.15 THB 89.04 THB 180.40 THB 71
5Y Revenue Exit 9.79 THB 28.82 THB 53.57 THB 68
5Y EBITDA Exit 36.05 THB 82.37 THB 140.03 THB 72
5Y P/E Exit 26.28 THB 62.45 THB 103.22 THB 68
10Y Revenue Exit 16.70 THB 37.60 THB 67.62 THB 63
10Y EBITDA Exit 35.22 THB 77.50 THB 140.90 THB 65
10Y P/E Exit 28.62 THB 62.66 THB 109.70 THB 61
Earnings-Based
Graham-Dodd 21.52 THB 96.00 THB 131.53 THB 64
Lynch FV 24.95 THB 35.64 THB 46.33 THB 61
PEG = 1.0 24.95 THB 35.64 THB 46.33 THB 57
Dividend Discount
Gordon GGM 13.09 THB 28.58 THB 48.09 THB 65
DDM Multi-Stage 13.09 THB 23.41 THB 29.79 THB 66
Multiples
P/E Multiple 49.85 THB 66.47 THB 83.09 THB 63
P/S Multiple 40.36 THB 53.81 THB 67.26 THB 58
P/B Multiple 40.36 THB 53.81 THB 67.26 THB 55
EV/EBIT 7.79 THB 18.21 THB 28.62 THB 62
EV/EBITDA 41.77 THB 63.52 THB 85.26 THB 66
EV/Revenue 8.41 THB 17.96 THB 50
Asset-Based
NCAV (Graham) 18.60 THB 24.93 THB 37.21 THB 54
Growth DCF
Growth DCF 34.67 THB 80.06 THB 161.13 THB 73
Rev-Margin DCF 9.79 THB 28.94 THB 53.48 THB 68
Economic Profit
Residual Income 32.00 THB 34.86 THB 46.41 THB 76
Growth Earnings
Growth-Adj P/E 40.77 THB 58.24 THB 75.71 THB 67

Widest divergence: DCF Models (62.66 THB) versus Dividend Discount (23.41 THB). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 14.1
P/S ratio 0.40 P/E × margin
EPS (TTM) 3.28 THB price ÷ EPS = P/E 14.1
Dividend yield 3.6% payout 50.3%
Net margin 2.8% FY2025
Return on equity 10.0% TTM
More key figures
Profitability
Return on assets (EBIT) 3.6% avg 5y
Operating margin 5.9% TTM
Growth
Revenue (TTM) 1.0T THB TTM
Revenue growth (YoY) +5.8% 3y avg +6.1%
EPS growth (YoY) +21.5%
Balance sheet & cash flow
Free cash flow 38.6B THB FY2025
Net debt 503B THB FY2025 · ≈ 13.0 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 49 · Market factors (momentum, volatility) 57

Profitability 42
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 84
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

CP ALL Public Company Limited, together with its subsidiaries, operates convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internationally. The company operates through four segments: Convenience stores, Wholesale, Retail and Mall, and Other.

Full company description

CP ALL Public Company Limited, together with its subsidiaries, operates convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internationally. The company operates through four segments: Convenience stores, Wholesale, Retail and Mall, and Other. It also operates frozen food plants and bakeries; distributes various commercial cards and tickets, and hardware and equipment; manufactures, imports, exports, distributes, and trades in food products. In addition, the company designs and develops IT system; and offers bill payment, training and seminar, digital technology, marketing activity, electronic payment agent, asset counting, logistics and distribution of merchandise, technical and supporting services, warehouse management, consulting, building rental, and freight, delivery, and rental services. Further, the company engages in e-commerce, catalog, insurance broker, and telecommunication businesses; commercial trading; investing in retail business and mall, and commercial space management; and distribution, installation, repair, and maintenance of retail equipment, as well as production of roasted coffee beans. Additionally, it operates food and beverages stores, restaurant, and educational institutions; provides educational development fund; produces ready-to-eat meals, raw materials, and dairy products; and distributes goods and equipment for convenience stores. It is also involved in retail and related business operation under the Lotus's brand name; operation of stores under Makro name; and production of raw and cooked protein products. The company was formerly known as C.P. Seven Eleven Public Company Limited. CP ALL Public Company Limited was founded in 1988 and is headquartered in Nonthaburi, Thailand.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CP ALL Public Company Limited reported revenue of 991B THB in FY2025 versus 565B THB in FY2021, a compound +15.1%/yr. Reported net income was 28.2B THB in FY2025, compounding +21.4%/yr from FY2021.

Growth Quality 84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
991B THB
Latest YoY
+3.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.5%
Avg. revenue growth/yr (22Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.7%
Value creation/yr (5Y, in THB) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+15.5% (11.9 + 3.6)
Revenue +15.1%/yr
FY21 565B THB
FY22 829B THB
FY23 895B THB
FY24 959B THB
FY25 991B THB
Net income +21.4%/yr
FY21 13.0B THB
FY22 13.3B THB
FY23 18.5B THB
FY24 25.3B THB
FY25 28.2B THB
Character of growth · EPS growth decomposed (2014-2025) +6.6 % p.a.
Revenue per share +10.2 %

of which total revenue +10.2 % · buybacks/dilution +0.0 %

EBIT margin −4.7 %
Tax rate −0.3 %
Residual (interest, one-offs) +1.9 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "CP ALL Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/CPALL

Peer Group

Grocery Stores · 77 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 50 · Bottom 25%
Fair Value upside +16% · Above median
Return on equity (TTM) 10% · Below median
Return on assets 4% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth 6% · Above median
Dividend yield (TTM) 3.6% · Above median
Debt / equity 0.79× · Higher than 75% of peers

Valuation Multiples vs Grocery Stores median · lower = cheaper

P/E (TTM) 14.1× · Cheaper than median
P/B 1.24× · Cheaper than median
P/S (TTM) 0.40× · Pricier than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 8.2× · Pricier than median
PEG 1.51× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE55 · sector 40
FUTURE29 · sector 17
PAST40 · sector 50
HEALTH60 · sector 92
DIVIDEND71 · sector 52

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Grocery Stores stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
Loblaw Companies Limited L C$60.79 C$44.44 −27%
Koninklijke Ahold Delhaize N.V AD €30.57 €53.50 +75%
The Kroger Co KR $57.72 $28.19 −51%
Woolworths Group WOW A$40.32 A$8.33 −79%
George Weston Limited WN C$98.50 C$147.70 +50%
Metro Inc MRU C$88.26 C$94.01 +7%
Carrefour SA CA €15.63 €11.19 −28%
BIM Birlesik Magazalar A.S., BIMAS 418.25 TRY 267.12 TRY −36%
Kesko Oyj KESKOA €21.25 €11.62 −45%
President Chain Store Corporation 2912 219.50 TWD 183.31 TWD −16%

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Frequently asked questions

Is CP ALL Public Company Limited (CPALL) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of 53.81 THB versus a price of 46.25 THB, about +16% upside (undervalued).
What is the fair value of CPALL?
Our model-based fair value for CP ALL Public Company Limited is 53.81 THB (as of Aug 29, 2026), built from audited fundamentals. The current price: 46.25 THB.
What is the quality score of CPALL?
CP ALL Public Company Limited has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of CP ALL Public Company Limited (CPALL)?
CP ALL Public Company Limited reported trailing-twelve-month revenue of about 1.0T THB (latest available figure, as of Aug 29, 2026).
What is the net profit margin of CPALL?
The net profit margin of CP ALL Public Company Limited is about 2.9%, meaning it keeps roughly 2.9% of revenue as net income. Based on the latest reported figures.
Does CP ALL Public Company Limited pay a dividend?
CP ALL Public Company Limited currently shows a dividend yield of about 3.57% relative to its recent price (as of Aug 29, 2026).
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