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Bangkok Land Public Company (BLAND) Fair Value & Analysis

Real Estate · TH · Market cap 7.8B THB

BL Bangkok Land Public Company BLAND · BK
Price0.5700 THB
Fair Value0.6600 THB
Upside+15.8%
Quality56/100
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Mixed Growth
Solidly profitable · 14.3% net margin
Low debt · generates free cash flow
2.89% dividend yield
Ranks above peers (10/14)
Narrow moat 36/100
Evidence: Medium Range 0.4800 THB – 1.07 THB Share as image

Fair value as of: Jul 13, 2026

From 16 valuation models · updated 28 days ago

Share price +26.7% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • A fairly wide model range (0.4800 THB to 1.07 THB) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

1.08 THB 0.3725 THB Fair Value 0.6600 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range 0.3725 THB – 1.08 THB · fair‑value band 0.4800 THB – 1.07 THB · the 0.5700 THB price screens below the 0.6600 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Bangkok Land Public Company (BLAND) currently trades at 0.5700 THB, while our model-based Fair Value estimate is 0.6600 THB, implying the stock looks roughly 15.8% undervalued today. The Quality Score stands at 56/100 (solid 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: medium), always confirm before acting.

Over the trailing twelve months, Bangkok Land Public Company generated revenue of 4.6B THB at a net margin of 14.3%. Revenue declined 12.9% year over year. It earns a return on equity of 2.2%. Net debt stands at 1.9B THB. Fundamentals as of Jul 13, 2026

Our scenario range runs from 0.4800 THB (bear case) to 1.07 THB (bull case); at 0.5700 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 near its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at 16%, BLAND 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.

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
Growth DCF 0.3300 THB 0.5300 THB 0.8000 THB 80
Residual Income 1.93 THB 1.79 THB 1.31 THB 76
Rev-Margin DCF 0.2000 THB 0.3500 THB 0.5200 THB 74
All 16 models by family
DCF Models
FCF DCF 0.3200 THB 0.5500 THB 0.8800 THB 38
5Y Revenue Exit 0.2000 THB 0.3400 THB 0.5300 THB 39
5Y EBITDA Exit 0.5300 THB 0.9600 THB 1.48 THB 41
10Y Revenue Exit 0.2300 THB 0.3800 THB 0.5600 THB 36
10Y EBITDA Exit 0.4500 THB 0.8000 THB 1.27 THB 37
Dividend Discount
Gordon GGM 0.0900 THB 0.1700 THB 0.2600 THB 70
DDM Multi-Stage 0.0900 THB 0.1400 THB 0.1800 THB 61
Multiples
P/S Multiple 0.4800 THB 0.6500 THB 0.8100 THB 58
P/B Multiple 0.4800 THB 0.6500 THB 0.8100 THB 55
EV/EBIT 0.3300 THB 0.4800 THB 0.6200 THB 53
EV/EBITDA 0.7400 THB 1.02 THB 1.30 THB 54
EV/Revenue 0.1300 THB 0.2400 THB 0.3400 THB 43
Asset-Based
NCAV (Graham) 1.42 THB 1.91 THB 2.85 THB 50
Growth DCF
Growth DCF 0.3300 THB 0.5300 THB 0.8000 THB 80
Rev-Margin DCF 0.2000 THB 0.3500 THB 0.5200 THB 74
Economic Profit
Residual Income 1.93 THB 1.79 THB 1.31 THB 76

Widest divergence: Asset-Based (1.91 THB) versus Dividend Discount (0.1400 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 4.6B THB
Revenue growth (YoY) -12.9%
Net margin 14.3%
Return on equity 2.2%
Free cash flow 686M THB FY2026
P/E ratio 11.0
More key figures
Operating margin 0.4%
EPS (TTM) 0.0400 THB
Dividend yield 2.9%
EPS growth (YoY) +21.5%
Net debt 1.9B THB FY2026

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 58 · Market factors (momentum, volatility) 68

Profitability 22
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

Bangkok Land Public Company Limited engages in the real estate development, exhibition and convention, food and beverage sales, and hotel and education investment businesses in Thailand. It operates through Real Estate Business; Retail Business; Exhibition Center Business; and Other Service segments.

Full company description

Bangkok Land Public Company Limited engages in the real estate development, exhibition and convention, food and beverage sales, and hotel and education investment businesses in Thailand. It operates through Real Estate Business; Retail Business; Exhibition Center Business; and Other Service segments. The company develops residential properties, such as single houses, town houses, and condominiums; and commercial properties, including shop-houses, high rise office buildings, shopping complexes, and community and retail malls. It also offers education, financing, project management, building management and maintenance, and property rental services; and real estate investment trust services. In addition, the company operates hotels, exhibition centers, and convention spaces, as well as a REIT manager. Bangkok Land Public Company Limited was founded in 1973 and is based in Nonthaburi, Thailand.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Bangkok Land Public Company reported revenue of 4.6B THB in FY2026 versus 2.0B THB in FY2022, a compound +23.4%/yr. Reported net income was 660M THB in FY2026, compounding +3.6%/yr from FY2022.

Growth Quality 75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
4.6B THB
Latest YoY
−11.3%
Avg. 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.
+7.0%
Avg. 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.
+8.2%
Avg. growth/yr (26Y) 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.
−3.9%
Revenue +23.4%/yr
FY22 2.0B THB
FY23 3.8B THB
FY24 3.9B THB
FY25 5.2B THB
FY26 4.6B THB
Net income +3.6%/yr
FY22 572M THB
FY23 654M THB
FY24 958M THB
FY25 656M THB
FY26 660M THB
Character of growth · EPS growth decomposed (2014-2025) −9.9 % p.a.
Revenue per share +1.5 pp

of which total revenue −0.1 pp · buybacks/dilution +1.6 pp

EBIT margin +1.2 pp
Tax rate −5.9 pp
Residual (interest, one-offs) −6.7 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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Cite: Fair Value Calculator (2026). "Bangkok Land Public Company Fair Value". https://www.fairvalue-calculator.com/stock/BLAND

Peer Group

Real Estate Services · 520 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 58 · Above median
Fair Value upside +16% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 14% · Above median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth -13% · Bottom 25%
Dividend yield (TTM) 2.9% · Above median
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 11.3× · Cheaper than median
P/B 0.16× · Cheaper than 75% of peers
P/S (TTM) 1.69× · Cheaper than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 7.1× · Cheaper than 75% of peers

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.

VALUE 54 · sector 37
FUTURE 0 · sector 10
PAST 9 · sector 16
HEALTH 96 · sector 85
DIVIDEND 58 · sector 49

Insider activity: 45/100

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

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 Services stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 223,000 VND 25,731 VND -88%
KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Bangkok Land Public Company (BLAND) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 0.6600 THB versus a price of 0.5700 THB, about +16% (undervalued).
What is the fair value of BLAND?
Our model-based fair value for Bangkok Land Public Company is 0.6600 THB (as of Jul 13, 2026), built from audited fundamentals. The current price is 0.5700 THB.
What is the quality score of BLAND?
Bangkok Land Public Company has a Quality Score of 56/100. 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 Bangkok Land Public Company (BLAND)?
Bangkok Land Public Company reported trailing-twelve-month revenue of about 4.6B THB (latest available figure, as of Jul 13, 2026).
What is the net profit margin of BLAND?
The net profit margin of Bangkok Land Public Company is about 14.3%, meaning it keeps roughly 14.3% of revenue as net income. Based on the latest reported figures.
Does Bangkok Land Public Company pay a dividend?
Bangkok Land Public Company currently shows a dividend yield of about 2.89% relative to its recent price (as of Jul 13, 2026).

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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