Central Pattana Public Company Limited (CPN) Fair Value & Analysis
Real Estate · TH · Market cap 309B THB (≈ $9.4B) · ISIN TH0481B10Z00
What is Central Pattana Public Company Limited really worth?
A solid business, trading 9% below our fair value of 71.37 THB.
Strengths
For context
Fair value as of: Aug 13, 2026
From 15 valuation models · updated 22 days ago
Share price −6.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
- 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)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range 39.73 THB – 69.25 THB · fair‑value band 53.53 THB – 89.21 THB · the 64.75 THB price screens below the 71.37 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Central Pattana Public Company Limited (CPN) currently trades at 64.75 THB, while our model-based Fair Value estimate is 71.37 THB, implying the stock looks roughly 9.3% undervalued today. The Quality Score stands at 67/100 (solid quality), in the Real Estate sector. Bull case: the Growth DCF group reads highest at a median of 184.85 THB per share, and 9 of the 15 models we run sit above the 64.75 THB price. Bear case: the Asset-Based group reads lowest at 16.40 THB, and 6 of the 15 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Central Pattana Public Company Limited generated revenue of 55.6B THB at a net margin of 35.2%. Revenue grew 11.5% year over year. It earns a return on equity of 16.8%. Net debt stands at 168B THB. Fundamentals as of Aug 13, 2026
Our scenario range runs from 53.53 THB (bear case) to 89.21 THB (bull case); at 64.75 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 5% below its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −47% fair-value upside, at 10%, CPN 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 1.33 THB per share, which is 1.9 % 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.
All 15 models by family
Widest divergence: Growth DCF (184.85 THB) versus Asset-Based (16.40 THB). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 66
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
Central Pattana Public Company Limited develops and manages real estate properties in Thailand. It constructs, develops, and manages shopping malls, office buildings, hotels, and residential projects for lease. The company also provides utility services in shopping centers, property management consulting, corporate, and food center services.
Full company description
Central Pattana Public Company Limited develops and manages real estate properties in Thailand. It constructs, develops, and manages shopping malls, office buildings, hotels, and residential projects for lease. The company also provides utility services in shopping centers, property management consulting, corporate, and food center services. In addition, it engages in the operation of play lands and water theme parks in shopping centers; investment in real estate; education services; sale of land, houses, and condominium units; and management of a real estate investment trust. Central Pattana Public Company Limited was founded in 1980 and is headquartered in Bangkok, Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Central Pattana Public Company Limited reported revenue of 54.6B THB in FY2025 versus 25.6B THB in FY2021, a compound +20.9%/yr. Reported net income was 18.8B THB in FY2025, compounding +27.4%/yr from FY2021.
of which total revenue +7.9 % · buybacks/dilution +0.0 %
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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Peer Group
Real Estate - Diversified · 131 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.
Valuation Multiples vs Real Estate - Diversified median · lower = cheaper
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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Real Estate - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Corem Property Group CORED | kr 229.00 | kr 121.82 | −47% |
| Swiss Prime Site AG SPSN | CHF 124.60 | CHF 44.83 | −64% |
| Prestige Estates Projects Limited PRESTIGE | ₹1,586 | ₹645.21 | −59% |
| The Phoenix Mills Limited PHOENIXLTD | ₹1,905 | ₹701.74 | −63% |
| Umm Al Qura for Development and Construction Company 4325 | 17.19 SAR | 11.60 SAR | −33% |
| Fastighets AB BALDB | kr 54.08 | kr 70.70 | +31% |
| Hainan Airport Infrastructure Co 600515 | ¥2.79 | ¥0.3300 | −88% |
| Parque Arauco S.A PARAUCO | 3,954 CLP | 2,740 CLP | −31% |
| Singapore Land Group U06 | 3.41 SGD | 3.23 SGD | −5% |
| The St. Joe Company JOE | $67.90 | $34.24 | −50% |
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