AXTRART_AXTRA FUTURE CITY (AXTRART) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of AXTRART_AXTRA FUTURE CITY THB 6.67, price THB 12.60, upside -47.1%, quality 71 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
21‑month range 9.49 THB – 13.17 THB · fair‑value band 5.40 THB – 8.92 THB · the 12.60 THB price screens above the 6.67 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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Axtra Future City Freehold And Leasehold Real Estate Investment Trust specializes in investments in freehold and leasehold of 17 shopping malls anchored by a Tesco Lotus hypermarket. Axtra Future City Freehold And Leasehold Real Estate Investment Trust is headquartered in Bangkok, Thailand.
Stock analysis
AXTRART_AXTRA FUTURE CITY (AXTRART) currently trades at 12.60 THB, while our model-based Fair Value estimate is 6.67 THB, implying the stock looks roughly 88.9% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 14.56 THB per share, and 3 of the 16 models we run sit above the 12.60 THB price.
Bear case: the Growth DCF group reads lowest at 3.83 THB, and 13 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 5.40 THB (bear) to 8.92 THB (bull), the price of 12.60 THB sits above 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 71/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is weak, negative or inconsistent.
AXTRART_AXTRA FUTURE CITY reported revenue of 2.8B THB in FY2026 versus 2.3B THB in FY2022, a compound +4.5%/yr. Reported net income was 2.7B THB in FY2026, compounding +16.8%/yr from FY2022.
Key figures
Market cap 29.4B THB (≈ $883M) · P/E ratio 11.2 · P/S ratio 10.8 · EPS (TTM) 1.13 THB · Dividend yield 6.9% · Net margin 96.5% · Return on equity 9.2% · Return on assets (EBIT) 6.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 13% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −27% fair-value upside, at −47%, AXTRART screens richer than that median.
Fair Value models
Bear 5.40 THBFair Value 6.67 THBBull 8.92 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. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (0.1487 THB per share) are deliberately not added.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.40/100
Revenue growth is weak, negative or inconsistent.
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. Basis: EBIT basis. 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.
≈ +10.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.8%
Dividend (yield on the price)6.9%
Profit margin 2022 to 2026 ⓘ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.76% → 77%
⚠ Rate on operating basis: 2026 sits 81% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+25.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +24.1% a year for the price.
Compare AXTRART_AXTRA FUTURE CITY with another stock
Price, fair value, quality and upside side by side.
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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.REIT - Retail · 93 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside−36% · Below median
Profitability
Return on equity (TTM)9% · Above median
Return on assets4% · Top 25%
Net margin (TTM)89% · Top 25%
Operating margin (TTM)79% · Top 25%
Growth and dividend
Revenue growth3% · Below median
Dividend yield (TTM)6.9% · Above median
Balance sheet
Debt / equity0.08× · Lowest 25%
Valuation Multiplesvs REIT - Retail median · lower = cheaper
P/E (TTM)11.2× · Cheaper than median
P/B1.00× · Pricier than median
P/S (TTM)9.92× · Priciest 25%
P/FCF0.9× · Cheapest 25%
EV/EBITDA13.7× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 9
FUTURE (revenue growth)13· sector 23
PAST (return on equity)37· sector 31
HEALTH (low debt)96· sector 68
DIVIDEND (yield)100· sector 100
VALUE 0: the price sits above our fair-value range.
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). "AXTRART_AXTRA FUTURE CITY Fair Value". https://www.fairvalue-calculator.com/stock/AXTRART
Frequently asked questions
Is AXTRART_AXTRA FUTURE CITY (AXTRART) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 6.67 THB versus a price of 12.60 THB, about −47% upside (overvalued).
What is the fair value of AXTRART?
Our model-based fair value for AXTRART_AXTRA FUTURE CITY is 6.67 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 12.60 THB.
What is the quality score of AXTRART?
AXTRART_AXTRA FUTURE CITY has a Quality Score of 71/100. 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 AXTRART_AXTRA FUTURE CITY (AXTRART)?
Our model-based price target is the fair value of 6.67 THB (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 5.40 THB, optimistic scenario 8.92 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the AXTRART_AXTRA FUTURE CITY stock forecast for 2026?
Our models put fair value at 6.67 THB, about −47% upside versus a price of 12.60 THB (overvalued). Cautious scenario 5.40 THB, optimistic scenario 8.92 THB. The calculation is refreshed regularly with new filings.
What is the revenue of AXTRART_AXTRA FUTURE CITY (AXTRART)?
AXTRART_AXTRA FUTURE CITY reported trailing-twelve-month revenue of about 3.0B THB (latest available figure, as of Sep 24, 2026).
Does AXTRART_AXTRA FUTURE CITY pay a dividend?
AXTRART_AXTRA FUTURE CITY currently shows a dividend yield of about 6.90% relative to its recent price (as of Sep 24, 2026).
What growth is priced into AXTRART_AXTRA FUTURE CITY (AXTRART)?
For today's price to be fair in a discounted-cash-flow model, AXTRART_AXTRA FUTURE CITY would have to grow free cash flow by +25.6 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +4.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of AXTRART use?
Our models discount AXTRART_AXTRA FUTURE CITY at 11.6 %: a base by market capitalisation (small), damped by beta 0.26, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For AXTRART_AXTRA FUTURE CITY that is +25.6 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has AXTRART_AXTRA FUTURE CITY (AXTRART) delivered so far?
Over the past 4 years revenue at AXTRART_AXTRA FUTURE CITY grew +4.5 % a year. The price currently implies +25.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of AXTRART_AXTRA FUTURE CITY (AXTRART) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into AXTRART_AXTRA FUTURE CITY (+25.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of AXTRART_AXTRA FUTURE CITY (AXTRART)?
The free-cash-flow yield on the price is 3.22 %: that much free cash flow AXTRART_AXTRA FUTURE CITY produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of AXTRART_AXTRA FUTURE CITY (AXTRART)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For AXTRART_AXTRA FUTURE CITY it is 6.67 THB per share (as of Sep 24, 2026), against a price of 12.60 THB. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is AXTRART_AXTRA FUTURE CITY stock overvalued or undervalued in 2026?
As of Sep 24, 2026, AXTRART trades above its calculated fair value: price 12.60 THB, fair value 6.67 THB, a gap of about −47% (overvalued). 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 AXTRART?
No. The price is what the market pays today (12.60 THB); the fair value is what the company's own numbers justify (6.67 THB). For AXTRART_AXTRA FUTURE CITY the two are 5.93 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is AXTRART_AXTRA FUTURE CITY worth?
The market values AXTRART_AXTRA FUTURE CITY at about 29.4B THB (market capitalisation, as of Sep 24, 2026). Per share that is 12.60 THB; our models calculate a fair value of 6.67 THB per share.
What do the bullish and bearish scenarios say about AXTRART?
Our models span a range for AXTRART_AXTRA FUTURE CITY: cautious scenario 5.40 THB, base 6.67 THB, optimistic 8.92 THB per share (as of Sep 24, 2026, price 12.60 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AXTRART?
AXTRART_AXTRA FUTURE CITY trades at a price-to-earnings ratio of 11.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 6.67 THB is built from several models across several years. Other multiples: P/B 1.0, P/S 9.9, EV/EBITDA 13.7.
How solid is the balance sheet of AXTRART_AXTRA FUTURE CITY (AXTRART)?
Balance-sheet figures for AXTRART_AXTRA FUTURE CITY (as of Sep 24, 2026): return on equity 9.2%, debt of 0.08 per unit of equity. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is AXTRART from its 52-week high?
AXTRART_AXTRA FUTURE CITY trades at 12.60 THB, about 4% below its 52-week high of 13.17 THB and 13% above the low of 11.11 THB (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 6.67 THB is for.
Which stocks are comparable to AXTRART_AXTRA FUTURE CITY?
From the same area (Real Estate) we also value Simon Property Group, Realty Income Corporation, Unibail-Rodamco-Westfield SE, Kimco Realty Corporation, 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 AXTRART_AXTRA FUTURE CITY stock attractive at the current price?
The data as of Sep 24, 2026: price 12.60 THB, calculated fair value 6.67 THB (−47%), Quality Score 71/100, from 16 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 AXTRART calculated?
We run AXTRART_AXTRA FUTURE CITY through 16 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 6.67 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 14.1 % above its aggregate fair value. AXTRART_AXTRA FUTURE CITY itself currently trades above fair value. 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 AXTRART_AXTRA FUTURE CITY (AXTRART)?
The closing price on Sep 23, 2026 was 12.60 THB. Our model-based fair value is 6.67 THB, about −47% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with AXTRART_AXTRA FUTURE CITY right now?
A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (8.92 THB). The favourable scenario is already priced in. 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 AXTRART_AXTRA FUTURE CITY
How large is the market capitalisation of AXTRART_AXTRA FUTURE CITY (AXTRART)?
The market capitalisation of AXTRART_AXTRA FUTURE CITY is 29.4B THB (≈ $883M). 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 AXTRART_AXTRA FUTURE CITY (AXTRART)?
The price-to-sales ratio of AXTRART_AXTRA FUTURE CITY is 10.8 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of AXTRART_AXTRA FUTURE CITY (AXTRART)?
Earnings per share at AXTRART_AXTRA FUTURE CITY are 1.13 THB (price ÷ EPS = P/E 11.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of AXTRART_AXTRA FUTURE CITY (AXTRART)?
The dividend yield of AXTRART_AXTRA FUTURE CITY is 6.9% (payout 76.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of AXTRART_AXTRA FUTURE CITY (AXTRART)?
The net margin of AXTRART_AXTRA FUTURE CITY is 96.5% (fiscal year 2026). 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 AXTRART_AXTRA FUTURE CITY (AXTRART)?
The return on equity (ROE) of AXTRART_AXTRA FUTURE CITY is 9.2% (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 AXTRART_AXTRA FUTURE CITY (AXTRART)?
On an EBIT basis the return on assets of AXTRART_AXTRA FUTURE CITY is 6.4% (avg 4y). 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 AXTRART_AXTRA FUTURE CITY (AXTRART)?
The operating margin of AXTRART_AXTRA FUTURE CITY is 78.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at AXTRART_AXTRA FUTURE CITY (AXTRART)?
Revenue at AXTRART_AXTRA FUTURE CITY is growing +2.6% versus a year earlier (3y avg +6.1%). 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 AXTRART_AXTRA FUTURE CITY (AXTRART)?
Earnings per share at AXTRART_AXTRA FUTURE CITY are growing +2.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does AXTRART_AXTRA FUTURE CITY (AXTRART) carry?
The net debt of AXTRART_AXTRA FUTURE CITY is 2.2B THB (fiscal year 2026, ≈ 2.4 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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