Country Group Development Public Company Limited (CGD) Fair Value & Analysis
Real Estate · TH · Market cap 827M THB
Risks
Fair value as of: Aug 20, 2026
From 3 valuation models · updated 2 days ago
Share price −10.0% over the past month.
Below-average quality, and screening another 89% overvalued on our models.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
- 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.
How to read this chart
60‑month range 0.0900 THB – 0.8600 THB · the 0.0900 THB price screens above the 0.0100 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.
Analysis
Country Group Development Public Company Limited (CGD) currently trades at 0.0900 THB, while our model-based Fair Value estimate is 0.0100 THB, implying the stock looks roughly 88.9% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).
Trailing-twelve-month revenue stands at 610M THB. Revenue declined 75.5% year over year. It earns a return on equity of -16.6%. The balance sheet holds a net cash position of 903M THB. Fundamentals as of Aug 20, 2026
The share trades about 40% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 45% fair-value upside, at -89%, CGD screens richer 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 3 models by family
Widest divergence: Asset-Based (0.2700 THB) versus Dividend Discount (0.0100 THB). Highest evidence: Gordon GGM (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 38 · Market factors (momentum, volatility) 24
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
Country Group Development Public Company Limited, together with its subsidiaries, engages in the real estate development business in Thailand and internationally.
Full company description
Country Group Development Public Company Limited, together with its subsidiaries, engages in the real estate development business in Thailand and internationally. It also operates rental real estate properties; trading rental estate; and provides real estate management services, as well as engages in the construction and wholesale of equipment and furniture used in construction. In addition, the company operates private schools. The company was formerly known as Dragon One Public Company Limited and changed its name to Country Group Development Public Company Limited in May 2010. The company was founded in 1982 and is headquartered in Bangkok, Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Country Group Development Public Company Limited reported revenue of 561M THB in FY2025 versus 3.2B THB in FY2021, a compound −35.2%/yr. Reported net income was −568M THB in FY2025.
CGD screens 89% overvalued. Compare with DLF Limited →
Peer Group
Real Estate - Development · 598 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.
VALUE 0: the price sits above our fair-value range.
Insider activity: 35/100
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 - Development stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DLF Limited DLF | ₹667.10 | ₹170.24 | -74% |
| Macrotech Developers Limited LODHA | ₹1,244 | ₹583.42 | -53% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,050 IDR | 1,330 IDR | -78% |
| PT Jaya Real Property, Tbk., JRPT | 1,075 IDR | 1,674 IDR | +56% |
| PT Bumi Serpong Damai Tbk, BSDE | 610.00 IDR | 1,525 IDR | +150% |
| PT Sentul City Tbk, BKSL | 77.00 IDR | 192.50 IDR | +150% |
| PT Ciputra Development Tbk, CTRA | 610.00 IDR | 1,525 IDR | +150% |
| PT Duta Pertiwi Tbk DUTI | 4,300 IDR | 6,239 IDR | +45% |
| PT Puradelta Lestari Tbk DMAS | 147.00 IDR | 164.33 IDR | +12% |
| Phat Dat Real Estate Development Corporation PDR | 12,100 VND | 4,943 VND | -59% |
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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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