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Chewathai Public Company (CHEWA) Fair Value & Analysis

Real Estate · TH · Market cap 191M THB

CP Chewathai Public Company CHEWA · BK
Price0.1500 THB
Fair Value0.4000 THB
Upside+166.7%
Quality41/100
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Weak Growth
Loss-making · -45.2% net margin
Moderate debt · generates free cash flow
Trails peers (3/9)
Narrow moat 8/100
Evidence: Low Range 0.1700 THB – 0.4000 THB Share as image

Fair value as of: Jul 16, 2026

From 7 valuation models · updated 24 days ago

Fair value updated Jul 16, 2026, revised from 0.4250 THB to 0.4000 THB (−5.9%) since Jun 26, 2026.

Below-average quality, screening 167% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (0.1700 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.
  • A fairly wide model range (0.1700 THB to 0.4000 THB) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

1.22 THB 0.1400 THB Fair Value 0.4000 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 0.1400 THB – 1.22 THB · fair‑value band 0.1700 THB – 0.4000 THB · the 0.1500 THB price screens below the 0.4000 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Chewathai Public Company (CHEWA) currently trades at 0.1500 THB, while our model-based Fair Value estimate is 0.4000 THB, implying the stock looks roughly 166.7% undervalued today. The Quality Score stands at 41/100 (below-average 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: low), always confirm before acting.

Over the trailing twelve months, Chewathai Public Company generated revenue of 858M THB at a net margin of -47.9%. Revenue declined 31.1% year over year. It earns a return on equity of -30.7%. Net debt stands at 2.5B THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 0.1700 THB (bear case) to 0.4000 THB (bull case); at 0.1500 THB, the current price sits below 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 about 64% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 167%, CHEWA 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 0.1400 THB 0.3500 THB 0.6700 THB 80
Rev-Margin DCF 0.1900 THB 0.6300 THB 1.17 THB 74
NCAV (Graham) 0.4500 THB 0.6000 THB 0.8900 THB 50
All 7 models by family
DCF Models
FCF DCF 0.1200 THB 0.3400 THB 0.7100 THB 38
5Y Revenue Exit 0.1900 THB 0.6000 THB 1.21 THB 39
10Y Revenue Exit 0.1300 THB 0.4200 THB 0.7300 THB 36
Multiples
EV/Revenue 0.3400 THB 0.8200 THB 1.30 THB 43
Asset-Based
NCAV (Graham) 0.4500 THB 0.6000 THB 0.8900 THB 50
Growth DCF
Growth DCF 0.1400 THB 0.3500 THB 0.6700 THB 80
Rev-Margin DCF 0.1900 THB 0.6300 THB 1.17 THB 74

Widest divergence: Multiples (0.8200 THB) versus Growth DCF (0.3500 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 858M THB
Revenue growth (YoY) -31.1%
Net margin -47.9%
Return on equity -30.7%
Free cash flow 156M THB FY2025
Operating margin -89.3%
More key figures
EPS (TTM) -0.3200 THB
EPS growth (YoY) -88.9%
Net debt 2.5B THB FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 42 · Market factors (momentum, volatility) 20

Profitability 1
Margins and returns on capital today
Quality Growth 6
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 11
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 2
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

Chewathai Public Company Limited develops, sells, and rents properties in Thailand. The company develops houses, town homes, home offices, and condominium projects, as well as commercial shophouses. It is also involved in ready-built factories for rent. Chewathai Public Company Limited was incorporated in 2008 and is headquartered in Bangkok, Thailand.

Full company description

Chewathai Public Company Limited develops, sells, and rents properties in Thailand. The company develops houses, town homes, home offices, and condominium projects, as well as commercial shophouses. It is also involved in ready-built factories for rent. Chewathai Public Company Limited was incorporated in 2008 and is headquartered in Bangkok, Thailand. The company is a subsidiary of Chartchewa Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chewathai Public Company reported revenue of 833M THB in FY2025 versus 2.1B THB in FY2021, a compound −20.6%/yr. Reported net income was −411M THB in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
833M THB
Latest YoY
−54.6%
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.
−26.5%
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.
−12.5%
Avg. growth/yr (14Y) 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.
+1.8%
Revenue −20.6%/yr
FY21 2.1B THB
FY22 2.1B THB
FY23 1.9B THB
FY24 1.8B THB
FY25 833M THB
Net income
FY21 70.1M THB
FY22 115M THB
FY23 −69.1M THB
FY24 −356M THB
FY25 −411M THB

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Cite: Fair Value Calculator (2026). "Chewathai Public Company Fair Value". https://www.fairvalue-calculator.com/stock/CHEWA

Peer Group

Real Estate - Development · 588 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 42 · Below median
Fair Value upside +167% · Top 25%
Return on assets -4% · Bottom 25%
Net margin (TTM) -45% · Bottom 25%
Operating margin (TTM) -5% · Bottom 25%
Revenue growth 25% · Above median
Debt / equity 0.89× · Higher than 75% of peers

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

P/FCF 0.0× · 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 100 · sector 48
FUTURE 100 · sector 0
PAST 0 · sector 10
HEALTH 56 · sector 84
DIVIDEND 0 · sector 38

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 - Development stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Chewathai Public Company (CHEWA) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 0.4000 THB versus a price of 0.1500 THB, about +167% (undervalued).
What is the fair value of CHEWA?
Our model-based fair value for Chewathai Public Company is 0.4000 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 0.1500 THB.
What is the quality score of CHEWA?
Chewathai Public Company has a Quality Score of 41/100. 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 Chewathai Public Company (CHEWA)?
Chewathai Public Company reported trailing-twelve-month revenue of about 858M THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of CHEWA?
The net profit margin of Chewathai Public Company is about -47.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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