PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED THB 3.35, price THB 4.26, upside -21.4%, quality 49 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
58‑month range 2.51 THB – 6.21 THB · fair‑value band 1.19 THB – 3.80 THB · the 4.26 THB price screens above the 3.35 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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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.
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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.
Stock analysis
PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN) currently trades at 4.26 THB, while our model-based Fair Value estimate is 3.35 THB, implying the stock looks roughly 27.2% overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 8.41 THB per share, and 8 of the 16 models we run sit above the 4.26 THB price.
Bear case: the Growth DCF group reads lowest at 1.33 THB, and 8 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 1.19 THB (bear) to 3.80 THB (bull), the price of 4.26 THB sits above 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 49/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED 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. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 4.9B THB (≈ $148M) · P/E ratio 7.2 · P/S ratio 2.66 · EPS (TTM) 0.5900 THB · Dividend yield 5.1% · Net margin 36.9% · Return on equity 14.7% · Return on assets (EBIT) 12.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 8% 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 −21%, PIN screens richer than that median.
Fair Value models
Bear 1.19 THBFair Value 3.35 THBBull 3.80 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 (0.2736 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.64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−67.6%
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.
+6.9%
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.
+4.9%
Start year 2020 (pandemic)
Revenue growth 8 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.
+8.1%
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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.
+22.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.3%
Dividend (yield on the price)5.1%
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.37% → 28%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+35.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +33.8% a year for the price.
Compare PINTHONG INDUSTRIAL PARK 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 · 578 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Above median
Fair Value upside−21% · Below median
Profitability
Return on equity (TTM)15% · Top 25%
Return on assets6% · Top 25%
Net margin (TTM)37% · Top 25%
Operating margin (TTM)49% · Top 25%
Growth and dividend
Revenue growth52% · Top 25%
Dividend yield (TTM)5.1% · Above median
Balance sheet
Debt / equity0.44× · Above median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
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Cite: Fair Value Calculator (2026). "PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/PIN
Frequently asked questions
Is PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3.35 THB versus a price of 4.26 THB, about −21% upside (overvalued).
What is the fair value of PIN?
Our model-based fair value for PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED is 3.35 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 4.26 THB.
What is the quality score of PIN?
PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED 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 price target for PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
Our model-based price target is the fair value of 3.35 THB (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 1.19 THB, optimistic scenario 3.80 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED stock forecast for 2026?
Our models put fair value at 3.35 THB, about −21% upside versus a price of 4.26 THB (overvalued). Cautious scenario 1.19 THB, optimistic scenario 3.80 THB. The calculation is refreshed regularly with new filings.
What is the revenue of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED reported trailing-twelve-month revenue of about 1.8B THB (latest available figure, as of Sep 24, 2026).
Does PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED pay a dividend?
PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED currently shows a dividend yield of about 5.07% relative to its recent price (as of Sep 24, 2026).
What growth is priced into PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
For today's price to be fair in a discounted-cash-flow model, PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED would have to grow free cash flow by +35.4 % per year for five years (discount rate 13.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of PIN use?
Our models discount PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED at 13.1 %: a base by market capitalisation (micro), damped by beta 0.19, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED that is +35.4 % per year a year over ten years, using the same discount rate (13.1 %) and the same formula as our fair value.
How much growth has PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN) delivered so far?
Over the past 5 years revenue at PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED grew +4.9 % a year. The price currently implies +35.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (+35.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
The free-cash-flow yield on the price is 3.41 %: that much free cash flow PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED produces per unit of market value. When it exceeds the discount rate of our models (13.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED it is 3.35 THB per share (as of Sep 24, 2026), against a price of 4.26 THB. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PIN trades above its calculated fair value: price 4.26 THB, fair value 3.35 THB, a gap of about −21% (overvalued). 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 PIN?
No. The price is what the market pays today (4.26 THB); the fair value is what the company's own numbers justify (3.35 THB). For PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED the two are 0.9100 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED worth?
The market values PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED at about 4.9B THB (market capitalisation, as of Sep 24, 2026). Per share that is 4.26 THB; our models calculate a fair value of 3.35 THB per share.
What do the bullish and bearish scenarios say about PIN?
Our models span a range for PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED: cautious scenario 1.19 THB, base 3.35 THB, optimistic 3.80 THB per share (as of Sep 24, 2026, price 4.26 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PIN?
PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED trades at a price-to-earnings ratio of 7.2 (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 3.35 THB is built from several models across several years. Other multiples: P/B 1.1, P/S 2.7, EV/EBITDA 6.6.
How solid is the balance sheet of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
Balance-sheet figures for PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (as of Sep 24, 2026): return on equity 14.7%, debt of 0.44 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is PIN from its 52-week high?
PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED trades at 4.26 THB, about 11% below its 52-week high of 4.80 THB and 8% above the low of 3.96 THB (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 3.35 THB is for.
Which stocks are comparable to PINTHONG INDUSTRIAL PARK 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 PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED stock attractive at the current price?
The data as of Sep 24, 2026: price 4.26 THB, calculated fair value 3.35 THB (−21%), Quality Score 49/100, 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 PIN calculated?
We run PINTHONG INDUSTRIAL PARK 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 3.35 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. PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED itself currently trades above fair value. 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 PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
The closing price on Sep 23, 2026 was 4.26 THB. Our model-based fair value is 3.35 THB, about −21% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED right now?
The price sits above even our optimistic bull case (3.80 THB). The favourable scenario is already priced in. The model range is unusually wide (1.19 THB to 3.80 THB). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED
How large is the market capitalisation of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
The market capitalisation of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED is 4.9B THB (≈ $148M). 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 PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
The price-to-sales ratio of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED is 2.66 (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 PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
Earnings per share at PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED are 0.5900 THB (price ÷ EPS = P/E 7.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
The dividend yield of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED is 5.1% (payout 36.6%). 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 PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
The net margin of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED is 36.9% (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 PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
The return on equity (ROE) of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED is 14.7% (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 PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
On an EBIT basis the return on assets of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED is 12.1% (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 PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
The operating margin of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED is 48.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
Revenue at PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED is growing +51.7% versus a year earlier (3y avg +6.9%). 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 PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN)?
Earnings per share at PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED are growing +357% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED (PIN) carry?
The net debt of PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED is 3.5B THB (fiscal year 2025, ≈ 20.8 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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