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Pinthong Industrial Park Public Company (PIN) Fair Value & Analysis

Real Estate · TH · Market cap 5.2B THB

PI Pinthong Industrial Park Public Company PIN · BK
Price4.68 THB
Fair Value4.20 THB
Upside-10.3%
Quality49/100
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Mixed Growth
Highly profitable · 37.3% net margin
Low debt · generates free cash flow
4.76% dividend yield
Ranks above peers (9/14)
Wide moat 73/100
Evidence: High Range 3.51 THB – 7.03 THB Share as image

Fair value as of: Jul 16, 2026

From 16 valuation models · updated 25 days ago

Share price +9.9% over the past month.

Below-average quality, and screening another 10% overvalued on our models.

What matters now

  • A fairly wide model range (3.51 THB to 7.03 THB) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

6.21 THB 2.51 THB Fair Value 4.20 THB Nov 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

57‑month range 2.51 THB – 6.21 THB · fair‑value band 3.51 THB – 7.03 THB · the 4.68 THB price screens above the 4.20 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

Pinthong Industrial Park Public Company (PIN) currently trades at 4.68 THB, while our model-based Fair Value estimate is 4.20 THB, implying the stock looks roughly 10.3% overvalued today. The Quality Score stands at 49/100 (below-average 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, Pinthong Industrial Park Public Company generated revenue of 1.6B THB at a net margin of 30.6%. Revenue declined 64.0% year over year. It earns a return on equity of 11.0%. Net debt stands at 3.5B THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 3.51 THB (bear case) to 7.03 THB (bull case); at 4.68 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 about 4% below its 52-week high and 26% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -10%, PIN screens richer 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 BearBaseBull Evidence
Highest evidence
Growth DCF 0.7800 THB 2.51 THB 5.90 THB 80
Residual Income 3.39 THB 3.83 THB 5.79 THB 76
Rev-Margin DCF 1.53 THB 4.84 THB 10.30 THB 74
All 16 models by family
DCF Models
FCF DCF 0.9200 THB 2.17 THB 6.06 THB 38
5Y Revenue Exit 1.53 THB 4.06 THB 9.28 THB 39
5Y EBITDA Exit 3.19 THB 7.47 THB 15.74 THB 41
10Y Revenue Exit 1.24 THB 4.87 THB 7.89 THB 36
10Y EBITDA Exit 2.53 THB 8.23 THB 19.15 THB 37
Dividend Discount
Gordon GGM 6.67 THB 13.30 THB 20.14 THB 70
DDM Multi-Stage 6.67 THB 11.49 THB 14.04 THB 61
Multiples
P/S Multiple 5.47 THB 7.29 THB 9.11 THB 58
P/B Multiple 5.47 THB 7.29 THB 9.11 THB 55
EV/EBIT 3.91 THB 5.68 THB 7.44 THB 53
EV/EBITDA 4.03 THB 5.83 THB 7.64 THB 54
EV/Revenue 1.54 THB 2.79 THB 4.04 THB 43
Asset-Based
NCAV (Graham) 1.87 THB 2.51 THB 3.75 THB 50
Growth DCF
Growth DCF 0.7800 THB 2.51 THB 5.90 THB 80
Rev-Margin DCF 1.53 THB 4.84 THB 10.30 THB 74
Economic Profit
Residual Income 3.39 THB 3.83 THB 5.79 THB 76

Widest divergence: Dividend Discount (11.49 THB) versus Asset-Based (2.51 THB). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.6B THB
Revenue growth (YoY) -64.0%
Net margin 30.6%
Return on equity 11.0%
Free cash flow 168M THB FY2025
P/E ratio 7.4
More key figures
Operating margin 68.2%
EPS (TTM) 0.5900 THB
EPS growth (YoY) -45.0%
Net debt 3.5B THB FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 49 · Market factors (momentum, volatility) 67

Profitability 41
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 46
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 63
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

Pinthong Industrial Park Public Company Limited, together with its subsidiaries, engages in the industrial real estate projects development and building rental activities in Thailand. The company is involved in the supply utilities and other services; the management of warehouses and duty-free zones; and solar power.

Full company description

Pinthong Industrial Park Public Company Limited, together with its subsidiaries, engages in the industrial real estate projects development and building rental activities in Thailand. The company is involved in the supply utilities and other services; the management of warehouses and duty-free zones; and solar power. The company was founded in 1995 and is headquartered in Chonburi, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Pinthong Industrial Park Public Company reported revenue of 1.3B THB in FY2025 versus 539M THB in FY2021, a compound +25.8%/yr. Reported net income was 497M THB in FY2025, compounding +36.3%/yr from FY2021.

Growth Quality 59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.3B THB
Latest YoY
−67.6%
Avg. growth/yr (3Y)
+6.9%
Avg. growth/yr (5Y)
+4.9%
Avg. growth/yr (8Y)
+8.1%
Revenue +25.8%/yr
FY21 539M THB
FY22 1.1B THB
FY23 3.0B THB
FY24 4.2B THB
FY25 1.3B THB
Net income +36.3%/yr
FY21 144M THB
FY22 325M THB
FY23 1.4B THB
FY24 1.7B THB
FY25 497M THB

PIN screens 10% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Pinthong Industrial Park Public Company Fair Value". https://www.fairvalue-calculator.com/stock/PIN

Peer Group

Real Estate - Development · 588 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 51 · Above median
Fair Value upside −10% · Below median
Return on equity (TTM) 15% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 37% · Top 25%
Operating margin (TTM) 49% · Top 25%
Revenue growth 52% · Top 25%
Dividend yield (TTM) 4.8% · Top 25%
Debt / equity 0.44× · Higher than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 7.7× · Cheaper than median
P/B 1.21× · Pricier than 75% of peers
P/S (TTM) 2.85× · Pricier than 75% of peers
P/FCF 0.9× · Pricier than median
EV/EBITDA 6.9× · Cheaper than median

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 20 · sector 48
FUTURE 100 · sector 0
PAST 59 · sector 10
HEALTH 78 · sector 84
DIVIDEND 95 · sector 38

Insider activity: 40/100

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Pinthong Industrial Park Public Company (PIN) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 4.20 THB versus a price of 4.68 THB, about −10% (overvalued).
What is the fair value of PIN?
Our model-based fair value for Pinthong Industrial Park Public Company is 4.20 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 4.68 THB.
What is the quality score of PIN?
Pinthong Industrial Park Public Company has a Quality Score of 49/100. 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 Pinthong Industrial Park Public Company (PIN)?
Pinthong Industrial Park Public Company reported trailing-twelve-month revenue of about 1.6B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of PIN?
The net profit margin of Pinthong Industrial Park Public Company is about 30.6%, meaning it keeps roughly 30.6% 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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