Ananda Development Public Company Limited (ANAN) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Ananda Development Public Company Limited THB 0.66, price THB 0.31, upside +112.5%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 0.3000 THB – 2.36 THB · fair‑value band 0.6486 THB – 0.9861 THB · the 0.3100 THB price screens below the 0.6588 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Ananda Development Public Company Limited, together with subsidiaries, develops and sells real estate projects in Thailand. It operates through Real Estate Development, Management of Real Estate Development Project, Service Apartments, and Other segments.
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Ananda Development Public Company Limited, together with subsidiaries, develops and sells real estate projects in Thailand. It operates through Real Estate Development, Management of Real Estate Development Project, Service Apartments, and Other segments. The company provides management for real estate projects; house construction; and real estate brokerage services, as well as acts as a property agent. It also engages in the management of juristic person; media production; and property rental, as well as provision of academic seminar services. In addition, the company develops condominium projects under the Ashton, Ideo Q, Coco Parc, Culture, Ideo Mobi, Ideo, and Elio brands; and housing projects and townhouses under the Artale, Airi, Atoll, Anda, Urbanio, and Unio Town brands. The company was founded in 1999 and is based in Samut Prakan, Thailand.
Stock analysis
Ananda Development Public Company Limited (ANAN) currently trades at 0.3100 THB, while our model-based Fair Value estimate is 0.6588 THB, implying the stock looks roughly 52.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 5.18 THB per share, and 12 of the 14 models we run sit above the 0.3100 THB price.
Bear case: the Economic Profit group reads lowest at 1.22 THB, and 2 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.6486 THB (bear) to 0.9861 THB (bull), the price of 0.3100 THB sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ananda Development Public Company Limited reported revenue of 6.6B THB in FY2025 versus 3.6B THB in FY2021, a compound +16.5%/yr. Reported net income was 55.7M THB in FY2025.
Key figures
Market cap 1.3B THB (≈ $38.6M) · P/S ratio 0.21 · EPS (TTM) −0.0200 THB · Net margin 0.8% · Return on equity 1.7% · Return on assets (EBIT) 0.6% · Operating margin −12.5% · Revenue (TTM) 6.7B THB.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 40% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at 113%, ANAN screens cheaper than that median.
Fair Value models
Bear 0.6486 THBFair Value 0.6588 THBBull 0.9861 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+12.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+28.8%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+9.8%
Start year 2020 (pandemic). Over 10 years: −4.8% a year
Revenue growth 16 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+17.1%
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What shareholders gained per year (last 5 years), in THB ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. 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.
−86.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−86.0%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−86% vs −64%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.32% → 10%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 12.7%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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Peer Groupⓘ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.Real Estate - Development · 577 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score43 · Below median
Fair Value upside+113% · Top 25%
Profitability
Return on equity (TTM)2% · Below median
Return on assets1% · Above median
Net margin (TTM)3% · Below median
Operating margin (TTM)−12% · Bottom 25%
Growth and dividend
Revenue growth30% · Above median
Balance sheet
Debt / equity0.28× · Below median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Ananda Development Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/ANAN
Frequently asked questions
Is Ananda Development Public Company Limited (ANAN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.6588 THB versus a price of 0.3100 THB, about +113% upside (undervalued).
What is the fair value of ANAN?
Our model-based fair value for Ananda Development Public Company Limited is 0.6588 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.3100 THB.
What is the quality score of ANAN?
Ananda Development Public Company Limited has a Quality Score of 42/100. 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 price target for Ananda Development Public Company Limited (ANAN)?
Our model-based price target is the fair value of 0.6588 THB (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 0.6486 THB, optimistic scenario 0.9861 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Ananda Development Public Company Limited stock forecast for 2026?
Our models put fair value at 0.6588 THB, about +113% upside versus a price of 0.3100 THB (undervalued). Cautious scenario 0.6486 THB, optimistic scenario 0.9861 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Ananda Development Public Company Limited (ANAN)?
Ananda Development Public Company Limited reported trailing-twelve-month revenue of about 6.7B THB (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Ananda Development Public Company Limited (ANAN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ananda Development Public Company Limited it is 0.6588 THB per share (as of Sep 24, 2026), against a price of 0.3100 THB. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Ananda Development Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ANAN trades below its calculated fair value: price 0.3100 THB, fair value 0.6588 THB, a gap of about +113% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ANAN?
No. The price is what the market pays today (0.3100 THB); the fair value is what the company's own numbers justify (0.6588 THB). For Ananda Development Public Company Limited the two are 0.3488 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Ananda Development Public Company Limited worth?
The market values Ananda Development Public Company Limited at about 1.3B THB (market capitalisation, as of Sep 24, 2026). Per share that is 0.3100 THB; our models calculate a fair value of 0.6588 THB per share.
What do the bullish and bearish scenarios say about ANAN?
Our models span a range for Ananda Development Public Company Limited: cautious scenario 0.6486 THB, base 0.6588 THB, optimistic 0.9861 THB per share (as of Sep 24, 2026, price 0.3100 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ananda Development Public Company Limited (ANAN)?
Balance-sheet figures for Ananda Development Public Company Limited (as of Sep 24, 2026): return on equity 1.7%, debt of 0.28 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is ANAN from its 52-week high?
Ananda Development Public Company Limited trades at 0.3100 THB, about 40% below its 52-week high of 0.5200 THB and 3% above the low of 0.3000 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.6588 THB is for.
Which stocks are comparable to Ananda Development Public Company Limited?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ananda Development Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 0.3100 THB, calculated fair value 0.6588 THB (+113%), Quality Score 42/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ANAN calculated?
We run Ananda Development Public Company Limited through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 0.6588 THB, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Ananda Development Public Company Limited currently trades 113 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ananda Development Public Company Limited (ANAN)?
The closing price on Sep 24, 2026 was 0.3100 THB. Our model-based fair value is 0.6588 THB, about +113% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ananda Development Public Company Limited right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (0.6486 THB). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Ananda Development Public Company Limited
How large is the market capitalisation of Ananda Development Public Company Limited (ANAN)?
The market capitalisation of Ananda Development Public Company Limited is 1.3B THB (≈ $38.6M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ananda Development Public Company Limited (ANAN)?
The price-to-sales ratio of Ananda Development Public Company Limited is 0.21 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ananda Development Public Company Limited (ANAN)?
Earnings per share at Ananda Development Public Company Limited are −0.0200 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ananda Development Public Company Limited (ANAN)?
The net margin of Ananda Development Public Company Limited is 0.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ananda Development Public Company Limited (ANAN)?
The return on equity (ROE) of Ananda Development Public Company Limited is 1.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ananda Development Public Company Limited (ANAN)?
On an EBIT basis the return on assets of Ananda Development Public Company Limited is 0.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ananda Development Public Company Limited (ANAN)?
The operating margin of Ananda Development Public Company Limited is −12.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ananda Development Public Company Limited (ANAN)?
Revenue at Ananda Development Public Company Limited is growing +29.9% versus a year earlier (3y avg +28.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Ananda Development Public Company Limited (ANAN)?
Earnings per share at Ananda Development Public Company Limited are growing −24.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ananda Development Public Company Limited (ANAN) generate?
The free cash flow of Ananda Development Public Company Limited is 2.1B THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ananda Development Public Company Limited (ANAN) carry?
The net debt of Ananda Development Public Company Limited is 15.9B THB (fiscal year 2025, ≈ 7.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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