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Chiangmai Rimdoi Public Company (CRD) Fair Value & Analysis

Industrials · TH · Market cap 290M THB

CR Chiangmai Rimdoi Public Company CRD · BK
Price0.5700 THB
Fair Value1.57 THB
Upside+175.4%
Quality61/100
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Mixed Growth
Thin margins · 7.1% net margin
Low debt · generates free cash flow
Ranks above peers (12/13)
Moderate moat 46/100
Evidence: High Range 1.21 THB – 2.10 THB Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Fair value updated Aug 13, 2026, revised from 1.77 THB to 1.57 THB (−11.3%) since Jul 16, 2026. Share price −1.7% over the past month.

A solid business, screening 175% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (1.21 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

1.51 THB 0.2800 THB Fair Value 1.57 THB Feb 2021 Aug 2026

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

How to read this chart

60‑month range 0.2800 THB – 1.51 THB · fair‑value band 1.21 THB – 2.10 THB · the 0.5700 THB price screens below the 1.57 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Chiangmai Rimdoi Public Company (CRD) currently trades at 0.5700 THB, while our model-based Fair Value estimate is 1.57 THB, implying the stock looks roughly 175.4% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Industrials 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: high), always confirm before acting.

Over the trailing twelve months, Chiangmai Rimdoi Public Company generated revenue of 919M THB at a net margin of 7.1%. Revenue declined 0.4% year over year. It earns a return on equity of 13.9%. Net debt stands at 87.7M THB. Fundamentals as of Aug 13, 2026

Our scenario range runs from 1.21 THB (bear case) to 2.10 THB (bull case); at 0.5700 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 near its 52-week high and 119% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at 175%, CRD 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 1.34 THB 1.64 THB 2.00 THB 80
Residual Income 0.7600 THB 0.8100 THB 0.9200 THB 76
Rev-Margin DCF 1.22 THB 1.71 THB 2.25 THB 74
All 24 models by family
DCF Models
FCF DCF 1.32 THB 1.64 THB 2.05 THB 38
Owner Earnings 1.21 THB 1.50 THB 1.87 THB 31
5Y Revenue Exit 1.22 THB 1.68 THB 2.26 THB 39
5Y EBITDA Exit 1.64 THB 2.40 THB 3.29 THB 41
5Y P/E Exit 1.39 THB 1.96 THB 2.56 THB 38
10Y Revenue Exit 1.23 THB 1.60 THB 2.03 THB 36
10Y EBITDA Exit 1.48 THB 2.02 THB 2.64 THB 37
10Y P/E Exit 1.34 THB 1.77 THB 2.21 THB 35
Earnings-Based
Graham-Dodd 0.6800 THB 1.34 THB 1.68 THB 54
EPV 0.8800 THB 0.9800 THB 1.06 THB 59
Dividend Discount
Gordon GGM 0.0800 THB 0.1000 THB 0.1200 THB 70
DDM Multi-Stage 0.0800 THB 0.1000 THB 0.1200 THB 61
Multiples
P/E Multiple 1.58 THB 2.10 THB 2.63 THB 63
P/S Multiple 1.28 THB 1.70 THB 2.13 THB 58
P/B Multiple 1.28 THB 1.70 THB 2.13 THB 55
EV/EBIT 1.68 THB 2.22 THB 2.75 THB 53
EV/EBITDA 2.20 THB 2.90 THB 3.61 THB 54
EV/Revenue 1.22 THB 1.71 THB 2.20 THB 43
Asset-Based
NCAV (Graham) 0.4800 THB 0.6400 THB 0.9500 THB 50
Growth DCF
Growth DCF 1.34 THB 1.64 THB 2.00 THB 80
Rev-Margin DCF 1.22 THB 1.71 THB 2.25 THB 74
Economic Profit
Residual Income 0.7600 THB 0.8100 THB 0.9200 THB 76
ROIC Compounder 0.8800 THB 0.9900 THB 1.09 THB 72
Growth Earnings
Growth-Adj P/E 1.14 THB 1.63 THB 2.11 THB 68

Widest divergence: Multiples (1.71 THB) versus Dividend Discount (0.1000 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 919M THB
Revenue growth (YoY) -0.4%
Net margin 7.1%
Return on equity 13.9%
Free cash flow 81.6M THB FY2025
P/E ratio 4.4
More key figures
Operating margin 10.7%
EPS (TTM) 0.1300 THB
EPS growth (YoY) +500%
Net debt 87.7M THB FY2025

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 59 · Market factors (momentum, volatility) 85

Profitability 42
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 92
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

Chiangmai Rimdoi Public Company Limited provides construction and solid waste disposal services in Thailand. The company is also involved in general building construction, such as factories, infrastructure systems, inventory buildings, hotels, resorts, hospitals, condominiums, wastewater treatment systems, plumbing systems, electrical systems, …

Full company description

Chiangmai Rimdoi Public Company Limited provides construction and solid waste disposal services in Thailand. The company is also involved in general building construction, such as factories, infrastructure systems, inventory buildings, hotels, resorts, hospitals, condominiums, wastewater treatment systems, plumbing systems, electrical systems, hydroelectricity projects, and other types of civil work, as well as offering custom-made infrastructure services. The company was founded in 1990 and is headquartered in Chiang Mai, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chiangmai Rimdoi Public Company reported revenue of 918M THB in FY2025 versus 886M THB in FY2021, a compound +0.9%/yr. Reported net income was 50.0M THB in FY2025, compounding +57.7%/yr from FY2021.

Growth Quality 63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
918M THB
Latest YoY
−10.0%
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.
−9.7%
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.
+3.0%
Avg. growth/yr (11Y) 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.
+2.1%
Revenue +0.9%/yr
FY21 886M THB
FY22 1.2B THB
FY23 800M THB
FY24 1.0B THB
FY25 918M THB
Net income +57.7%/yr
FY21 8.1M THB
FY22 −14.2M THB
FY23 −76.2M THB
FY24 16.3M THB
FY25 50.0M THB
Character of growth · EPS growth decomposed (2014-2025) −5.2 % p.a.
Revenue per share −0.3 pp

of which total revenue −0.3 pp · buybacks/dilution +0.0 pp

EBIT margin −3.7 pp
Tax rate +0.5 pp
Residual (interest, one-offs) −1.6 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). "Chiangmai Rimdoi Public Company Fair Value". https://www.fairvalue-calculator.com/stock/CRD

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.

Quality Score 61 · Top 25%
Fair Value upside +175% · Top 25%
Return on equity (TTM) 14% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 11% · Top 25%
Revenue growth -0% · Below median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 4.4× · Cheaper than 75% of peers
P/B 0.61× · Cheaper than median
P/S (TTM) 0.32× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 2.2× · 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 14
FUTURE 0 · sector 14
PAST 55 · sector 26
HEALTH 98 · sector 94
DIVIDEND 0 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹230.00 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 45,400 KRW 43,924 KRW -3%

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Frequently asked questions

Is Chiangmai Rimdoi Public Company (CRD) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.57 THB versus a price of 0.5700 THB, about +175% (undervalued).
What is the fair value of CRD?
Our model-based fair value for Chiangmai Rimdoi Public Company is 1.57 THB (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.5700 THB.
What is the quality score of CRD?
Chiangmai Rimdoi Public Company has a Quality Score of 61/100. 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 Chiangmai Rimdoi Public Company (CRD)?
Chiangmai Rimdoi Public Company reported trailing-twelve-month revenue of about 919M THB (latest available figure, as of Aug 13, 2026).
What is the net profit margin of CRD?
The net profit margin of Chiangmai Rimdoi Public Company is about 7.1%, meaning it keeps roughly 7.1% of revenue as net income. 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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