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N.C. Housing Public Company Limited (NCH) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of N.C. Housing Public Company Limited THB 0.47, price THB 0.44, upside +6.2%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Real Estate · TH · ISIN TH0769010Z00

NC Thin data Sep 24, 2026

N.C. Housing Public Company Limited

NCH · BK

NeutralThe stock looks roughly fairly valued with average quality.

·Fair value 0.4671 THB · Fairly valued (+6%)
!Quality 54/100
!Weak Growth (revenue 5y −9.0 %/yr)
!Loss-making · -12.5% net margin (TTM)
✓Low debt · generates free cash flow
!Mixed vs. peers (4/10)
!Narrow moat 14/100
!Evidence only low, so the estimate is less certain
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Price vs Fair Value

1.90 THB 0.3700 THB Fair Value 0.4671 THB Apr 2021 Sep 2026

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 0.3700 THB – 1.90 THB · fair‑value band 0.3088 THB – 0.6834 THB · the 0.4400 THB price screens below the 0.4671 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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Company profile

N.C. Housing Public Company Limited engages in the real estate development business in Thailand. The company develops single detached houses, duplexes, townhomes, and condominiums.

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N.C. Housing Public Company Limited engages in the real estate development business in Thailand. The company develops single detached houses, duplexes, townhomes, and condominiums. It also engages in the land development; contractor and project management business; provision of property management and construction services; intermediate care and wellness business; and rental space in club house and health rehabilitation and senior care center, etc. The company was incorporated in 1994 and is headquartered in Pathum Thani, Thailand. N.C. Housing Public Company Limited is a subsidiary of NCH 2555 Holding Company Limited.

Stock analysis

N.C. Housing Public Company Limited (NCH) currently trades at 0.4400 THB, while our model-based Fair Value estimate is 0.4671 THB, implying the stock looks roughly 5.8% fairly valued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of 4.06 THB per share, and 7 of the 7 models we run sit above the 0.4400 THB price.

Bear case: the Asset-Based group reads lowest at 1.58 THB, and 0 of the 7 models stay below the price. Evidence for this calculation is low.

Scenario range: 0.3088 THB (bear) to 0.6834 THB (bull), the price of 0.4400 THB sits inside 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 54/100 (solid 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.

N.C. Housing Public Company Limited reported revenue of 1.1B THB in FY2025 versus 2.5B THB in FY2021, a compound −18.6%/yr. Reported net income was −128M THB in FY2025.

Key figures

Market cap 548M THB (≈ $16.4M) · P/S ratio 0.51 · EPS (TTM) −0.1000 THB · Net margin −11.5% · Return on equity −4.5% · Return on assets (EBIT) 3.8% · Operating margin −8.9% · Revenue (TTM) 1.0B THB.

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 23% below its 52-week high and 19% 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 6%, NCH screens richer than that median.

Fair Value models

Bear 0.3088 THB Fair Value 0.4671 THB Bull 0.6834 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.
Highest evidence
FCF DCF 3.00 THB 4.26 THB 6.53 THB 80
Growth DCF 3.15 THB 4.36 THB 6.38 THB 78
5Y Revenue Exit 2.63 THB 3.98 THB 5.94 THB 72
All 7 models by family
DCF Models
FCF DCF 3.00 THB 4.26 THB 6.53 THB 80
5Y Revenue Exit 2.63 THB 3.98 THB 5.94 THB 72
10Y Revenue Exit 2.68 THB 3.68 THB 4.75 THB 68
Multiples
EV/Revenue 2.65 THB 3.98 THB 5.31 THB 53
Asset-Based
NCAV (Graham) 1.18 THB 1.58 THB 2.36 THB 54
Growth DCF
Growth DCF 3.15 THB 4.36 THB 6.38 THB 78
Rev-Margin DCF 2.63 THB 4.06 THB 5.83 THB 72

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Quality Score breakdown

Overall quality 54/100

Of which business quality 58 · Market factors (momentum, volatility) 47

Profitability 6
Margins and returns on capital today
Quality Growth 16
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 23/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−12.3%
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.
−25.0%
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.
−9.0%
Start year 2020 (pandemic). Over 10 years: −6.2% a year
Revenue growth 23 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.
−1.7%
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.
9.5% (2020) → −7.8% (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
not computed

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Compare N.C. Housing Public Company Limited with another stock

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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 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 56 · Top 25%
Fair Value upside +9% · Below median
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −13% · Bottom 25%
Operating margin (TTM) −9% · Bottom 25%
Growth and dividend
Revenue growth −27% · Below median
Balance sheet
Debt / equity 0.21× · Below median

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/S (TTM) 0.02× · Cheapest 25%
P/FCF 0.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)42 · sector 49
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 12
HEALTH (low debt)90 · sector 83
DIVIDEND (yield)0 · sector 56

Context: sector, industry, market

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

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 0016 HK$109.10 HK$147.78 +35%
China Resources Land Limited 1109 HK$29.62 HK$74.05 +150%
Vinhomes Joint Stock Company VHM 68,200 VND 112,796 VND +65%
CK Asset Holdings 1113 HK$46.44 HK$71.69 +54%
Hongkong Land Holdings H78 $8.74 $1.52 −83%
DLF Limited DLF ₹675.00 ₹167.21 −75%
China Overseas Land & Investment Limited 0688 HK$12.43 HK$22.35 +80%
Lodha Developers Limited LODHA ₹1,163 ₹275.95 −76%
Poly Developments and Holdings 600048 ¥5.64 ¥14.10 +150%
CTP N.V CTPNV €13.58 €10.30 −24%

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Cite: Fair Value Calculator (2026). "N.C. Housing Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/NCH

Frequently asked questions

Is N.C. Housing Public Company Limited (NCH) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.4671 THB versus a price of 0.4400 THB, about +6% upside (fairly valued).
What is the fair value of NCH?
Our model-based fair value for N.C. Housing Public Company Limited is 0.4671 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.4400 THB.
What is the quality score of NCH?
N.C. Housing Public Company Limited has a Quality Score of 54/100. 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 N.C. Housing Public Company Limited (NCH)?
Our model-based price target is the fair value of 0.4671 THB (as of Sep 24, 2026) from 7 valuation models. Cautious scenario 0.3088 THB, optimistic scenario 0.6834 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the N.C. Housing Public Company Limited stock forecast for 2026?
Our models put fair value at 0.4671 THB, about +6% upside versus a price of 0.4400 THB (fairly valued). Cautious scenario 0.3088 THB, optimistic scenario 0.6834 THB. The calculation is refreshed regularly with new filings.
What is the revenue of N.C. Housing Public Company Limited (NCH)?
N.C. Housing Public Company Limited reported trailing-twelve-month revenue of about 1.0B THB (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of N.C. Housing Public Company Limited (NCH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For N.C. Housing Public Company Limited it is 0.4671 THB per share (as of Sep 24, 2026), against a price of 0.4400 THB. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is N.C. Housing Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NCH trades below its calculated fair value: price 0.4400 THB, fair value 0.4671 THB, a gap of about +6% (fairly valued). 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 NCH?
No. The price is what the market pays today (0.4400 THB); the fair value is what the company's own numbers justify (0.4671 THB). For N.C. Housing Public Company Limited the two are 0.0271 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is N.C. Housing Public Company Limited worth?
The market values N.C. Housing Public Company Limited at about 548M THB (market capitalisation, as of Sep 24, 2026). Per share that is 0.4400 THB; our models calculate a fair value of 0.4671 THB per share.
What do the bullish and bearish scenarios say about NCH?
Our models span a range for N.C. Housing Public Company Limited: cautious scenario 0.3088 THB, base 0.4671 THB, optimistic 0.6834 THB per share (as of Sep 24, 2026, price 0.4400 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of N.C. Housing Public Company Limited (NCH)?
Balance-sheet figures for N.C. Housing Public Company Limited (as of Sep 24, 2026): return on equity −4.5%, debt of 0.21 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is NCH from its 52-week high?
N.C. Housing Public Company Limited trades at 0.4400 THB, about 23% below its 52-week high of 0.5700 THB and 19% above the low of 0.3700 THB (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.4671 THB is for.
Which stocks are comparable to N.C. Housing 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 N.C. Housing Public Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 0.4400 THB, calculated fair value 0.4671 THB (+6%), Quality Score 54/100, from 7 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 NCH calculated?
We run N.C. Housing Public Company Limited through 7 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 0.4671 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. N.C. Housing Public Company Limited currently trades 6 % 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 N.C. Housing Public Company Limited (NCH)?
The closing price on Sep 24, 2026 was 0.4400 THB. Our model-based fair value is 0.4671 THB, about +6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with N.C. Housing Public Company Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (0.3088 THB to 0.6834 THB) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of N.C. Housing Public Company Limited

How large is the market capitalisation of N.C. Housing Public Company Limited (NCH)?
The market capitalisation of N.C. Housing Public Company Limited is 548M THB (≈ $16.4M). 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 N.C. Housing Public Company Limited (NCH)?
The price-to-sales ratio of N.C. Housing Public Company Limited is 0.51 (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 N.C. Housing Public Company Limited (NCH)?
Earnings per share at N.C. Housing Public Company Limited are −0.1000 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of N.C. Housing Public Company Limited (NCH)?
The net margin of N.C. Housing Public Company Limited is −11.5% (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 N.C. Housing Public Company Limited (NCH)?
The return on equity (ROE) of N.C. Housing Public Company Limited is −4.5% (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 N.C. Housing Public Company Limited (NCH)?
On an EBIT basis the return on assets of N.C. Housing Public Company Limited is 3.8% (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 N.C. Housing Public Company Limited (NCH)?
The operating margin of N.C. Housing Public Company Limited is −8.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at N.C. Housing Public Company Limited (NCH)?
Revenue at N.C. Housing Public Company Limited is growing −27.2% versus a year earlier (3y avg −25.0%). 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 N.C. Housing Public Company Limited (NCH)?
Earnings per share at N.C. Housing Public Company Limited are growing −56.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does N.C. Housing Public Company Limited (NCH) generate?
The free cash flow of N.C. Housing Public Company Limited is 426M 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 N.C. Housing Public Company Limited (NCH) carry?
The net debt of N.C. Housing Public Company Limited is 1.1B THB (fiscal year 2025, ≈ 2.7 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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