Christiani & Nielsen (Thai) Public Company (CNT) Fair Value & Analysis
Industrials · TH · Market cap 2.1B THB
Fair value as of: Jul 19, 2026
From 14 valuation models · updated 22 days ago
Fair value updated Jul 19, 2026, revised from 1.24 THB to 1.29 THB (+4.0%) since Jul 15, 2026. Share price +12.9% over the past month.
A solid business, but screening 30% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (1.61 THB). The favourable scenario is already priced in.
- Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
60‑month range 0.7948 THB – 2.17 THB · fair‑value band 0.9700 THB – 1.61 THB · the 1.84 THB price screens above the 1.29 THB fair value. Dashed = 300-day average. As of Jul 19, 2026.
Analysis
Christiani & Nielsen (Thai) Public Company (CNT) currently trades at 1.84 THB, while our model-based Fair Value estimate is 1.29 THB, implying the stock looks roughly 29.9% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Industrials 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: medium).
Over the trailing twelve months, Christiani & Nielsen (Thai) Public Company generated revenue of 8.2B THB at a net margin of 0.8%. Revenue grew 42.6% year over year. It earns a return on equity of 3.2%. Net debt stands at 874M THB. Fundamentals as of Jul 19, 2026
Our scenario range runs from 0.9700 THB (bear case) to 1.61 THB (bull case); at 1.84 THB, the current price sits above 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 133% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -30%, CNT 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.
All 14 models by family
Widest divergence: Multiples (1.29 THB) versus Earnings-Based (0.4500 THB). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 79
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
Christiani & Nielsen (Thai) Public Company Limited, together with its subsidiaries, provides construction services for government and private sectors. It operates in two segments Construction services, and Sales and Service.
Full company description
Christiani & Nielsen (Thai) Public Company Limited, together with its subsidiaries, provides construction services for government and private sectors. It operates in two segments Construction services, and Sales and Service. The company engages in the civil and infrastructure; general buildings and hospitality; power and petrochemicals; and industrial facilities and hypermarkets business, as well as property development business. It also provides services for energy solutions in solar, wind, and other renewable energy sectors; and develops renewable energy-based power producing facilities. The company was formerly known as Christiani & Nielsen (Siam) Ltd. and changed its name to Christiani & Nielsen (Thai) Public Company Limited in November 1992. The company was founded in 1904 and is headquartered in Bangkok, Thailand. Christiani & Nielsen (Thai) Public Company Limited operates as a subsidiary of Globex Corporation Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Christiani & Nielsen (Thai) Public Company reported revenue of 7.4B THB in FY2025 versus 6.2B THB in FY2021, a compound +4.7%/yr. Reported net income was 78.0M THB in FY2025.
of which total revenue −0.4 pp · buybacks/dilution −0.3 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).
CNT screens 30% overvalued. Compare with Larsen & Toubro Limited →
Peer Group
Engineering & Construction · 839 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 Engineering & Construction 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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Larsen & Toubro Limited LT | ₹3,815 | ₹1,994 | -48% |
| Samsung C&T Corporation 028260 | 346,000 KRW | 268,779 KRW | -22% |
| Hyundai Engineering & Construction Co 000720 | 99,000 KRW | 63,993 KRW | -35% |
| United Integrated Services Co 2404 | 1,250 TWD | 925.62 TWD | -26% |
| Samsung E&A Co 028050 | 42,550 KRW | 44,840 KRW | +5% |
| Rail Vikas Nigam Limited RVNL | ₹232.67 | ₹61.46 | -74% |
| Daewoo Engineering & Construction Co 047040 | 16,240 KRW | 6,507 KRW | -60% |
| NBCC (India) Limited NBCC | ₹96.32 | ₹48.22 | -50% |
| Cemindia Projects Limited CEMPRO | ₹1,330 | ₹730.69 | -45% |
| KEPCO Engineering & Construction Company 052690 | 92,700 KRW | 20,172 KRW | -78% |
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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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