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Country Group Development Public Company Limited (CGD) fair value: what the stock is really worth

We calculate from audited financials what Country Group Development Public Company Limited is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Price below fair value? No
  2. Good quality? No
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Real Estate · TH · ISIN TH0605010Z06

CG

Country Group Development Public Company Limited

CGD · BK
Evidence: Low As of: Aug 20, 2026
Price0.1000 THB
Fair Value0.0100 THB
Upside−90.0%
Quality33/100

Weakest SetupStrongly overvalued and low quality.

!Fair value 0.0100 THB · Strongly overvalued (−90%)
!Quality 33/100 (market factors 33, not scored)
!Weak Growth (revenue 5y −30.3 %/yr)
!Loss-making · -105.3% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (2/9)
!Narrow moat 9/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 8 out of 100
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

0.8600 THB 0.0900 THB Fair Value 0.0100 THB Mar 2021 Sep 2026

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 0.1000 THB price screens above the 0.0100 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 4 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 20, 2026.

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Company profile

Country Group Development Public Company Limited, together with its subsidiaries, engages in the real estate development business in Thailand and internationally.

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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.

Stock analysis

Country Group Development Public Company Limited (CGD) currently trades at 0.1000 THB, while our model-based Fair Value estimate is 0.0100 THB, implying the stock looks roughly 900.0% overvalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 89/100, which puts the evidence level at low.

Quality & growth

The Quality Score stands at 33/100 (below-average quality), in the Real Estate sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

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.

Key figures

Market cap 827M THB (≈ $25.0M) · P/S ratio 1.32 · EPS (TTM) −0.0800 THB · Dividend yield 0.4% · Net margin −101% · Return on equity −16.6% · Return on assets (EBIT) 4.1% · Operating margin −116%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 33% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −19% fair-value upside, at −90%, CGD screens richer than that median.

Fair Value models

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.
Highest evidence
Gordon GGM n/a 0.0100 THB 0.0100 THB 67
DDM Multi-Stage n/a 0.0100 THB 0.0100 THB 65
NCAV (Graham) 0.2100 THB 0.2700 THB 0.4100 THB 54
All 3 models by family
Dividend Discount
Gordon GGM n/a 0.0100 THB 0.0100 THB 67
DDM Multi-Stage n/a 0.0100 THB 0.0100 THB 65
Asset-Based
NCAV (Graham) 0.2100 THB 0.2700 THB 0.4100 THB 54

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Key figures & financial health

Market cap 827M THB (≈ $25.0M)
P/S ratio 1.32 TTM
EPS (TTM) −0.0800 THB
Dividend yield 0.4%
Net margin −101% FY2025
Return on equity −16.6% TTM
More key figures
Profitability
Return on assets (EBIT) 4.1% avg 5y
Operating margin −116% TTM
Growth
Revenue (TTM) 627M THB TTM
Revenue growth (YoY) −75.5% 3y avg −54.1%
EPS growth (YoY) −69.7%
Balance sheet & cash flow
Free cash flow −550M THB FY2025
Net cash 903M THB FY2025

Quality Score breakdown

Overall quality 33/100

Of which business quality 38 · Market factors (momentum, volatility) 33

Profitability 2
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Open the full quality analysis

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.

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. 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
561M THB
Latest YoY
−72.0%
Avg. revenue 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. Per-share growth (which does include buybacks) is in the value-creation card.
−54.1%
Avg. revenue 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. Per-share growth (which does include buybacks) is in the value-creation card.
−30.3%
Avg. revenue growth/yr (25Y) 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.
+0.0%
EBIT margin (trend) 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.
25.3% (2020) → −89.8% (2025)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −35.2%/yr
FY21 3.2B THB
FY22 5.8B THB
FY23 4.3B THB
FY24 2.0B THB
FY25 561M THB
Net income
FY21 −829M THB
FY22 390M THB
FY23 72.7M THB
FY24 −252M THB
FY25 −568M THB

CGD screens 900% overvalued. Compare with Sun Hung Kai Properties Limited →

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Cite: Fair Value Calculator (2026). "Country Group Development Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/CGD.BK

Peer Group

Real Estate - Development · 567 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
Quality Score 38 · Bottom 25%
Fair Value upside −89% · Bottom 25%
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −105% · Bottom 25%
Operating margin (TTM) −116% · Bottom 25%
Growth and dividend
Revenue growth −76% · Bottom 25%
Dividend yield (TTM) 0.4% · Bottom 25%
Balance sheet
Debt / equity 0.09× · Below median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/S (TTM) 0.04× · Cheapest 25%

Context: sector, industry, market

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 51
FUTURE0 · sector 0
PAST0 · sector 11
HEALTH95 · sector 85
DIVIDEND8 · sector 52

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.

None of the checked exposures detected

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
Sun Hung Kai Properties Limited 80016 HK$109.70 HK$88.93 −19%
China Resources Land Limited 1109 HK$35.24 HK$72.16 +105%
Vinhomes Joint Stock Company VHM 71,700 VND 109,431 VND +53%
CK Asset Holdings 1113 HK$47.34 HK$68.85 +45%
Hongkong Land Holdings H78 $8.20 $1.52 −81%
DLF Limited DLF ₹667.10 ₹170.24 −74%
China Overseas Land & Investment Limited 0688 HK$13.17 HK$23.00 +75%
Macrotech Developers Limited LODHA ₹1,244 ₹583.42 −53%
Sino Land Company 0083 HK$10.33 HK$6.99 −32%
PT Pantai Indah Kapuk Dua Tbk, PANI 5,925 IDR 1,325 IDR −78%

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Frequently asked questions

Is Country Group Development Public Company Limited (CGD) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of 0.0100 THB versus a price of 0.1000 THB, about −90% upside (overvalued).
What is the fair value of CGD?
Our model-based fair value for Country Group Development Public Company Limited is 0.0100 THB (as of Aug 20, 2026), built from audited fundamentals. The current price: 0.1000 THB.
What is the quality score of CGD?
Country Group Development Public Company Limited has a Quality Score of 33/100. 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 Country Group Development Public Company Limited (CGD)?
Our model-based price target is the fair value of 0.0100 THB (as of Aug 20, 2026) from 3 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Country Group Development Public Company Limited stock forecast for 2026?
Our models put fair value at 0.0100 THB, about −90% upside versus a price of 0.1000 THB (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Country Group Development Public Company Limited (CGD)?
Country Group Development Public Company Limited reported trailing-twelve-month revenue of about 610M THB (latest available figure, as of Aug 20, 2026).
What is the net profit margin of CGD?
The net profit margin of Country Group Development Public Company Limited is about −108.3%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Country Group Development Public Company Limited pay a dividend?
Country Group Development Public Company Limited currently shows a dividend yield of about 0.42% relative to its recent price (as of Aug 20, 2026).
What is the intrinsic value of Country Group Development Public Company Limited (CGD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Country Group Development Public Company Limited it is 0.0100 THB per share (as of Aug 20, 2026), against a price of 0.1000 THB. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Country Group Development Public Company Limited stock overvalued or undervalued in 2026?
As of Aug 20, 2026, CGD trades above its calculated fair value: price 0.1000 THB, fair value 0.0100 THB, a gap of about −90% (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 CGD?
No. The price is what the market pays today (0.1000 THB); the fair value is what the company's own numbers justify (0.0100 THB). For Country Group Development Public Company Limited the two are 0.0900 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Country Group Development Public Company Limited worth?
The market values Country Group Development Public Company Limited at about 827M THB (market capitalisation, as of Aug 20, 2026). Per share that is 0.1000 THB; our models calculate a fair value of 0.0100 THB per share.
How solid is the balance sheet of Country Group Development Public Company Limited (CGD)?
Balance-sheet figures for Country Group Development Public Company Limited (as of Aug 20, 2026): return on equity −16.6%, debt of 0.09 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is CGD from its 52-week high?
Country Group Development Public Company Limited trades at 0.1000 THB, about 33% below its 52-week high of 0.1500 THB and 11% above the low of 0.0900 THB (as of Aug 20, 2026). Distance from the high says nothing about value: that is what the fair value of 0.0100 THB is for.
Which stocks are comparable to Country Group 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 Country Group Development Public Company Limited stock attractive at the current price?
The data as of Aug 20, 2026: price 0.1000 THB, calculated fair value 0.0100 THB (−90%), Quality Score 33/100, from 3 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 CGD calculated?
We run Country Group Development Public Company Limited through 3 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 0.0100 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 31.6 % above its aggregate fair value. Country Group Development Public Company Limited 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 <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
What should I pay attention to with Country Group Development Public Company Limited right 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.
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