Alpha Divisions Public Company (ALPHAX) Fair Value & Analysis
Real Estate · TH · Market cap 2.3B THB
Fair value as of: Jul 15, 2026
From 15 valuation models · updated 26 days ago
Share price −4.0% over the past month.
Below-average quality, screening 63% undervalued on our models.
What matters now
- The price is below even our cautious bear case (0.3700 THB). The market is more pessimistic than our downside scenario.
- Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.
How to read this chart
60‑month range 0.2300 THB – 1.46 THB · fair‑value band 0.3700 THB – 0.4500 THB · the 0.2400 THB price screens below the 0.3900 THB fair value. Dashed = 300-day average. As of Jul 15, 2026.
Analysis
Alpha Divisions Public Company (ALPHAX) currently trades at 0.2400 THB, while our model-based Fair Value estimate is 0.3900 THB, implying the stock looks roughly 62.5% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Alpha Divisions Public Company generated revenue of 355M THB at a net margin of 74.2%. Revenue grew 39.0% year over year. It earns a return on equity of 4.6%. The balance sheet holds a net cash position of 3.3B THB. Fundamentals as of Jul 15, 2026
Our scenario range runs from 0.3700 THB (bear case) to 0.4500 THB (bull case); at 0.2400 THB, the current price sits below 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 60% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 63%, ALPHAX screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 15 models by family
Widest divergence: Growth DCF (0.6900 THB) versus Dividend Discount (0.0200 THB). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 16
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.
About the company
Alpha Divisions Public Company Limited, together with its subsidiaries, engages in the consultation and property development business in Thailand and internationally.
Full company description
Alpha Divisions Public Company Limited, together with its subsidiaries, engages in the consultation and property development business in Thailand and internationally. The company involved in the hire purchase business of motorcycles, cars, gold, and agricultural equipment, as well as related investing activities; and manufacturing and distribution of precursor and chemicals from hemp and/or cannabis. It also engages in microfinance business; and invests in property development business. In addition, the company operates as a producer, distributor, and agent for selling electricity from solar energy, wind, water, and other businesses. The company was formerly known as Ocean Commerce Public Company Limited and changed its name to Alpha Divisions Public Company Limited in January 2022. Alpha Divisions Public Company Limited was founded in 2003 and is based in Bangkok, Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Alpha Divisions Public Company reported revenue of 252M THB in FY2025 versus 469M THB in FY2021, a compound −14.3%/yr. Reported net income was 318M THB in FY2025, compounding +87.0%/yr from FY2021.
of which total revenue −4.1 pp · buybacks/dilution −23.9 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Real Estate - Development · 588 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 - Development median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DLF Limited DLF | ₹657.75 | ₹159.49 | -76% |
| Lodha Developers Limited LODHA | ₹1,188 | ₹583.43 | -51% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,125 IDR | 1,330 IDR | -78% |
| Oberoi Realty Limited OBEROIRLTY | ₹1,925 | ₹1,183 | -39% |
| Godrej Properties Limited GODREJPROP | ₹2,102 | ₹1,044 | -50% |
| PT Jaya Real Property, Tbk., JRPT | 1,080 IDR | 1,674 IDR | +55% |
| PT Bumi Serpong Damai Tbk, BSDE | 555.00 IDR | 1,388 IDR | +150% |
| PT Sentul City Tbk, BKSL | 64.00 IDR | 84.16 IDR | +32% |
| PT Ciputra Development Tbk, CTRA | 555.00 IDR | 1,388 IDR | +150% |
| PT Duta Pertiwi Tbk DUTI | 4,100 IDR | 6,239 IDR | +52% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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