L.P.N. Development Public Company Limited (LPN) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of L.P.N. Development Public Company Limited THB 3.93, price THB 1.57, upside +150.3%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 1.43 THB – 4.56 THB · fair‑value band 2.67 THB – 3.93 THB · the 1.57 THB price screens below the 3.93 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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L.P.N. Development Public Company Limited, together with its subsidiaries, engages in the real estate business in Thailand. The company develops offices, residential condominiums, houses, and townhomes.
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L.P.N. Development Public Company Limited, together with its subsidiaries, engages in the real estate business in Thailand. The company develops offices, residential condominiums, houses, and townhomes. It also provides facility and community management services; residential, office, and commercial building management services; tenant and buyer procurement services; and engineering services for condominiums. In addition, the company offers project, community, and construction management services; cleaning and receptionist services; and consulting and research services. Further, it leases office buildings, provides service for electricity generation systems by solar cell energy, and security services, as well as advisory and management services for project development. L.P.N. Development Public Company Limited was incorporated in June 21st, 1989 and is based in Bangkok, Thailand.
Stock analysis
L.P.N. Development Public Company Limited (LPN) currently trades at 1.57 THB, while our model-based Fair Value estimate is 3.93 THB, implying the stock looks roughly 60.1% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 5.68 THB per share, and 11 of the 16 models we run sit above the 1.57 THB price.
Bear case: the Dividend Discount group reads lowest at 1.04 THB, and 5 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 2.67 THB (bear) to 3.93 THB (bull), the price of 1.57 THB sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Real Estate sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
L.P.N. Development Public Company Limited reported revenue of 6.7B THB in FY2025 versus 5.6B THB in FY2021, a compound +4.8%/yr. Reported net income was 28.6M THB in FY2025, compounding −44.5%/yr from FY2021.
Key figures
Market cap 2.2B THB (≈ $66.8M) · P/E ratio 157.0 · P/S ratio 0.67 · EPS (TTM) 0.0100 THB · Dividend yield 6.9% · Net margin 0.4% · Return on equity 0.3% · Return on assets (EBIT) 2.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 10% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at 150%, LPN screens cheaper than that median.
Fair Value models
Bear 2.67 THBFair Value 3.93 THBBull 3.93 THB
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0073 THB per share) are deliberately not added.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.
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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Revenue growth 3 years ⓘ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.
+12.8%
Revenue growth 5 years ⓘ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.
−4.3%
Revenue growth 24 years ⓘ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.
+12.6%
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What shareholders gained per year (last 5 years), in THB ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−40.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−47.2%
Dividend (yield on the price)6.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−47% vs −35%, slowing
Profit margin 2020 to 2025 ⓘ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.14% → 5%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 6.3%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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Peer Groupⓘ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.Real Estate - Development · 578 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Top 25%
Fair Value upside+150% · Top 25%
Profitability
Return on equity (TTM)0% · Below median
Return on assets1% · Below median
Net margin (TTM)0% · Below median
Operating margin (TTM)2% · Below median
Growth and dividend
Revenue growth−2% · Below median
Dividend yield (TTM)6.9% · Top 25%
Balance sheet
Debt / equity0.39× · Above median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "L.P.N. Development Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/LPN
Frequently asked questions
Is L.P.N. Development Public Company Limited (LPN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3.93 THB versus a price of 1.57 THB, about +150% upside (undervalued).
What is the fair value of LPN?
Our model-based fair value for L.P.N. Development Public Company Limited is 3.93 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 1.57 THB.
What is the quality score of LPN?
L.P.N. Development Public Company Limited has a Quality Score of 57/100. 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 L.P.N. Development Public Company Limited (LPN)?
Our model-based price target is the fair value of 3.93 THB (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 2.67 THB, optimistic scenario 3.93 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the L.P.N. Development Public Company Limited stock forecast for 2026?
Our models put fair value at 3.93 THB, about +150% upside versus a price of 1.57 THB (undervalued). Cautious scenario 2.67 THB, optimistic scenario 3.93 THB. The calculation is refreshed regularly with new filings.
What is the revenue of L.P.N. Development Public Company Limited (LPN)?
L.P.N. Development Public Company Limited reported trailing-twelve-month revenue of about 6.7B THB (latest available figure, as of Sep 24, 2026).
Does L.P.N. Development Public Company Limited pay a dividend?
L.P.N. Development Public Company Limited currently shows a dividend yield of about 6.91% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of L.P.N. Development Public Company Limited (LPN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For L.P.N. Development Public Company Limited it is 3.93 THB per share (as of Sep 24, 2026), against a price of 1.57 THB. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is L.P.N. Development Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, LPN trades below its calculated fair value: price 1.57 THB, fair value 3.93 THB, a gap of about +150% (undervalued). 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 LPN?
No. The price is what the market pays today (1.57 THB); the fair value is what the company's own numbers justify (3.93 THB). For L.P.N. Development Public Company Limited the two are 2.36 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is L.P.N. Development Public Company Limited worth?
The market values L.P.N. Development Public Company Limited at about 2.2B THB (market capitalisation, as of Sep 24, 2026). Per share that is 1.57 THB; our models calculate a fair value of 3.93 THB per share.
What do the bullish and bearish scenarios say about LPN?
Our models span a range for L.P.N. Development Public Company Limited: cautious scenario 2.67 THB, base 3.93 THB, optimistic 3.93 THB per share (as of Sep 24, 2026, price 1.57 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LPN?
L.P.N. Development Public Company Limited trades at a price-to-earnings ratio of 157.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3.93 THB is built from several models across several years. Other multiples: PEG 9.3, P/B 0.2, P/S 0.3, EV/EBITDA 15.0.
What is the PEG ratio of LPN?
The PEG ratio of L.P.N. Development Public Company Limited is 9.27 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of L.P.N. Development Public Company Limited (LPN)?
Balance-sheet figures for L.P.N. Development Public Company Limited (as of Sep 24, 2026): return on equity 0.3%, debt of 0.39 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is LPN from its 52-week high?
L.P.N. Development Public Company Limited trades at 1.57 THB, about 9% below its 52-week high of 1.72 THB and 10% above the low of 1.43 THB (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 3.93 THB is for.
Which stocks are comparable to L.P.N. 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 L.P.N. Development Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 1.57 THB, calculated fair value 3.93 THB (+150%), Quality Score 57/100, from 16 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 LPN calculated?
We run L.P.N. Development Public Company Limited through 16 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 3.93 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 14.1 % above its aggregate fair value. L.P.N. Development Public Company Limited currently trades 150 % below its own fair value, and the market average says nothing about that. 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 is it worth investing now.
What is the share price of L.P.N. Development Public Company Limited (LPN)?
The closing price on Sep 23, 2026 was 1.57 THB. Our model-based fair value is 3.93 THB, about +150% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with L.P.N. Development Public Company Limited right now?
The price is below even our cautious bear case (2.67 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. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of L.P.N. Development Public Company Limited (LPN) come from?
Earnings per share at L.P.N. Development Public Company Limited grew −24.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share −7.1 %, EBIT margin −13.4 %, tax rate −2.1 %, residual (interest, one-offs) −4.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of L.P.N. Development Public Company Limited
How large is the market capitalisation of L.P.N. Development Public Company Limited (LPN)?
The market capitalisation of L.P.N. Development Public Company Limited is 2.2B THB (≈ $66.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of L.P.N. Development Public Company Limited (LPN)?
The price-to-sales ratio of L.P.N. Development Public Company Limited is 0.67 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of L.P.N. Development Public Company Limited (LPN)?
Earnings per share at L.P.N. Development Public Company Limited are 0.0100 THB (price ÷ EPS = P/E 157.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of L.P.N. Development Public Company Limited (LPN)?
The dividend yield of L.P.N. Development Public Company Limited is 6.9%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of L.P.N. Development Public Company Limited (LPN)?
The net margin of L.P.N. Development Public Company Limited is 0.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of L.P.N. Development Public Company Limited (LPN)?
The return on equity (ROE) of L.P.N. Development Public Company Limited is 0.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of L.P.N. Development Public Company Limited (LPN)?
On an EBIT basis the return on assets of L.P.N. Development Public Company Limited is 2.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of L.P.N. Development Public Company Limited (LPN)?
The operating margin of L.P.N. Development Public Company Limited is 1.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at L.P.N. Development Public Company Limited (LPN)?
Revenue at L.P.N. Development Public Company Limited is growing −2.4% versus a year earlier (3y avg −13.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at L.P.N. Development Public Company Limited (LPN)?
Earnings per share at L.P.N. Development Public Company Limited are growing +10.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does L.P.N. Development Public Company Limited (LPN) generate?
The free cash flow of L.P.N. Development Public Company Limited is 1.1B THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does L.P.N. Development Public Company Limited (LPN) carry?
The net debt of L.P.N. Development Public Company Limited is 9.3B THB (fiscal year 2025, ≈ 8.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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