Major Development Public Company Limited (MJD) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Major Development Public Company Limited THB 0.78, price THB 0.32, upside +142.2%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Major Development Public Company Limited, together with its subsidiaries, engages in the development and sale of properties in Thailand. The company operates through three segments: Property Development, Hotel Business, and Rental and Service Business. It develops and sells land, houses, and residential condominium units.
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Major Development Public Company Limited, together with its subsidiaries, engages in the development and sale of properties in Thailand. The company operates through three segments: Property Development, Hotel Business, and Rental and Service Business. It develops and sells land, houses, and residential condominium units. The company is also involved in the hotel business; office building space rental and service; and real estate agency, representative, and advisory business. In addition, it provides organizational development and management consulting services; and accommodates health business. Major Development Public Company Limited was founded in 1999 and is headquartered in Bangkok, Thailand.
Stock analysis
Major Development Public Company Limited (MJD) currently trades at 0.3200 THB, while our model-based Fair Value estimate is 0.7750 THB, implying the stock looks roughly 58.7% undervalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: 0.5800 THB (bear) to 1.16 THB (bull), the price of 0.3200 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 32/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Major Development Public Company Limited reported revenue of 2.0B THB in FY2025 versus 4.3B THB in FY2021, a compound −17.6%/yr. Reported net income was −2.1B THB in FY2025.
Key figures
Market cap 275M THB (≈ $8.3M) · P/S ratio 0.11 · EPS (TTM) −2.41 THB · Net margin −106% · Return on equity −64.2% · Return on assets (EBIT) −0.8% · Operating margin 17.0% · Revenue (TTM) 2.4B THB.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
The share trades about 38% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at 142%, MJD screens cheaper than that median.
Fair Value models
Bear 0.5800 THBFair Value 0.7750 THBBull 1.16 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.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.0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−16.0%
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.
−10.4%
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.
−22.3%
Start year 2020 (pandemic). Over 10 years: −5.1% a year
Revenue growth 19 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.
+1.1%
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Profit margin (trend) ⓘ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.
9.3% (2020) → −41.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare Major Development Public Company Limited with another stock
Price, fair value, quality and upside side by side.
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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 · 577 stocks
Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score27 · Bottom 25%
Fair Value upside+150% · Top 25%
Profitability
Return on assets1% · Below median
Net margin (TTM)−86% · Bottom 25%
Operating margin (TTM)17% · Above median
Growth and dividend
Revenue growth90% · Top 25%
Balance sheet
Debt / equity0.63× · 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). "Major Development Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/MJD
Frequently asked questions
Is Major Development Public Company Limited (MJD) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.7750 THB versus a price of 0.3200 THB, about +142% upside (undervalued).
What is the fair value of MJD?
Our model-based fair value for Major Development Public Company Limited is 0.7750 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.3200 THB.
What is the quality score of MJD?
Major Development Public Company Limited has a Quality Score of 32/100. 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 Major Development Public Company Limited (MJD)?
Our model-based price target is the fair value of 0.7750 THB (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 0.5800 THB, optimistic scenario 1.16 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Major Development Public Company Limited stock forecast for 2026?
Our models put fair value at 0.7750 THB, about +142% upside versus a price of 0.3200 THB (undervalued). Cautious scenario 0.5800 THB, optimistic scenario 1.16 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Major Development Public Company Limited (MJD)?
Major Development Public Company Limited reported trailing-twelve-month revenue of about 2.4B THB (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Major Development Public Company Limited (MJD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Major Development Public Company Limited it is 0.7750 THB per share (as of Sep 24, 2026), against a price of 0.3200 THB. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Major Development Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MJD trades below its calculated fair value: price 0.3200 THB, fair value 0.7750 THB, a gap of about +142% (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 MJD?
No. The price is what the market pays today (0.3200 THB); the fair value is what the company's own numbers justify (0.7750 THB). For Major Development Public Company Limited the two are 0.4550 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Major Development Public Company Limited worth?
The market values Major Development Public Company Limited at about 275M THB (market capitalisation, as of Sep 24, 2026). Per share that is 0.3200 THB; our models calculate a fair value of 0.7750 THB per share.
What do the bullish and bearish scenarios say about MJD?
Our models span a range for Major Development Public Company Limited: cautious scenario 0.5800 THB, base 0.7750 THB, optimistic 1.16 THB per share (as of Sep 24, 2026, price 0.3200 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of MJD?
The PEG ratio of Major Development Public Company Limited is 0.23 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Major Development Public Company Limited (MJD)?
Balance-sheet figures for Major Development Public Company Limited (as of Sep 24, 2026): return on equity −64.2%, debt of 0.63 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is MJD from its 52-week high?
Major Development Public Company Limited trades at 0.3200 THB, about 38% below its 52-week high of 0.5200 THB and 7% above the low of 0.3000 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.7750 THB is for.
Which stocks are comparable to Major 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 Major Development Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 0.3200 THB, calculated fair value 0.7750 THB (+142%), Quality Score 32/100, from 1 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 MJD calculated?
We run Major Development Public Company Limited through 1 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 0.7750 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 13.0 % above its aggregate fair value. Major Development Public Company Limited currently trades 142 % 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 Major Development Public Company Limited (MJD)?
The closing price on Sep 24, 2026 was 0.3200 THB. Our model-based fair value is 0.7750 THB, about +142% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Major Development Public Company Limited right now?
The large discount to fair value meets weak quality (32/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (0.5800 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 (0.5800 THB to 1.16 THB) leaves room in how you read the outcome.
Key figures of Major Development Public Company Limited
How large is the market capitalisation of Major Development Public Company Limited (MJD)?
The market capitalisation of Major Development Public Company Limited is 275M THB (≈ $8.3M). 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 Major Development Public Company Limited (MJD)?
The price-to-sales ratio of Major Development Public Company Limited is 0.11 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Major Development Public Company Limited (MJD)?
Earnings per share at Major Development Public Company Limited are −2.41 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Major Development Public Company Limited (MJD)?
The net margin of Major Development Public Company Limited is −106% (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 Major Development Public Company Limited (MJD)?
The return on equity (ROE) of Major Development Public Company Limited is −64.2% (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 Major Development Public Company Limited (MJD)?
On an EBIT basis the return on assets of Major Development Public Company Limited is −0.8% (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 Major Development Public Company Limited (MJD)?
The operating margin of Major Development Public Company Limited is 17.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Major Development Public Company Limited (MJD)?
Revenue at Major Development Public Company Limited is growing +89.7% versus a year earlier (3y avg −10.4%). 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 Major Development Public Company Limited (MJD)?
Earnings per share at Major Development Public Company Limited are growing +31.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Major Development Public Company Limited (MJD) generate?
The free cash flow of Major Development Public Company Limited is −21.8M 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 Major Development Public Company Limited (MJD) carry?
The net debt of Major Development Public Company Limited is 11.1B THB (fiscal year 2025). 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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