Impact Growth Real Estate Investment Trust (IMPACT) Fair Value & Analysis
Real Estate · TH · Market cap 17.9B THB
Fair value as of: Jul 17, 2026
From 13 valuation models · updated 24 days ago
Share price +12.8% over the past month.
A solid business, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- 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 Jul 17, 2026.
How to read this chart
60‑month range 8.09 THB – 16.39 THB · fair‑value band 9.35 THB – 15.77 THB · the 13.20 THB price screens above the 12.56 THB fair value. Dashed = 300-day average. As of Jul 17, 2026.
Analysis
Impact Growth Real Estate Investment Trust (IMPACT) currently trades at 13.20 THB, while our model-based Fair Value estimate is 12.56 THB, implying the stock looks roughly 4.9% fairly valued today. The Quality Score stands at 73/100 (solid 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: high).
Over the trailing twelve months, Impact Growth Real Estate Investment Trust generated revenue of 2.1B THB at a net margin of 55.1%. Revenue declined 26.2% year over year. It earns a return on equity of 6.9%. Net debt stands at 3.9B THB. Fundamentals as of Jul 17, 2026
Our scenario range runs from 9.35 THB (bear case) to 15.77 THB (bull case); at 13.20 THB, the current price sits within 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 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -50% fair-value upside, at -5%, IMPACT 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 13 models by family
Widest divergence: Economic Profit (9.52 THB) versus Asset-Based (7.46 THB). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 69 · Market factors (momentum, volatility) 83
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
Impact Growth Real Estate Investment Trust is a real estate investment trust established under the Trust for Transaction in Capital Market Act. In accordance with the Trust Deed signed between RMI Company Limited as the Trust Settlor and Kasikorn Asset Management Company Limited as the Trustee.
Full company description
Impact Growth Real Estate Investment Trust is a real estate investment trust established under the Trust for Transaction in Capital Market Act. In accordance with the Trust Deed signed between RMI Company Limited as the Trust Settlor and Kasikorn Asset Management Company Limited as the Trustee. On 22 September 2014, the Trust was established as a specific closed-end real estate investment trust with an indefinite term to invest in specific properties. The Trusts objectives are to mobilize funds raised from general investors and loans from financial institutions to invest in ownership in land and buildings, including utility systems and equipment, of the IMPACT Muang Thong Thani, specifically IMPACT Arena, IMPACT Exhibition Center, IMPACT Forum, and IMPACT Challenger. On 1 October 2014, the Stock Exchange of Thailand approved the listing of the Trusts investment trusts and permitted their trading from 1 October 2014 onwards. The Trust is managed by RMI Company Limited, Kasikorn Asset Management Company Limited acts as the Trustee and Impact Exhibition Management Company Limited acts as the Property Manager. As at 30 September 2025 and 31 March 2025, the Trusts major unitholder is Impact Exhibition Management Company Limited, which holds 49.33%. IMPACT Growth Real Estate Investment Trust was incorporated on September 22nd, 2014 in Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Impact Growth Real Estate Investment Trust reported revenue of 2.1B THB in FY2025 versus 1.1B THB in FY2021, a compound +17.9%/yr. Reported net income was 1.1B THB in FY2025, compounding +25.3%/yr from FY2021.
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Peer Group
REIT - Specialty · 34 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 REIT - Specialty 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.
Insider activity: 40/100
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 REIT - Specialty stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Equinix, Inc EQIX | $1,009 | $232.70 | -77% |
| American Tower Corporation AMT | $164.65 | $92.31 | -44% |
| Digital Realty Trust, Inc DLR | $199.08 | $63.31 | -68% |
| Iron Mountain Incorporated IRM | $128.31 | $40.43 | -68% |
| Crown Castle Inc CCI | $74.90 | $37.67 | -50% |
| SBA Communications Corporation SBAC | $173.57 | $143.83 | -17% |
| Weyerhaeuser Company WY | $23.94 | $8.62 | -64% |
| Lamar Advertising Company LAMR | $159.46 | $102.70 | -36% |
| Gaming and Leisure Properties, Inc GLPI | $45.17 | $36.60 | -19% |
| Rayonier Inc RYN | $21.58 | $9.96 | -54% |
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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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