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Proud Real Estate Public Company (PROUD) Fair Value & Analysis

Real Estate · TH · Market cap 1.0B THB

PR Proud Real Estate Public Company PROUD · BK
Price1.08 THB
Fair Value2.58 THB
Upside+138.9%
Quality51/100
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Mixed Growth
Thin margins · 2.6% net margin
Moderate debt · generates free cash flow
8.74% dividend yield
Ranks above peers (10/15)
Narrow moat 39/100
Evidence: High Range 1.93 THB – 3.22 THB Share as image

Fair value as of: Jul 16, 2026

From 14 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 2.53 THB to 2.58 THB (+2.0%) since Jun 26, 2026. Share price +5.9% over the past month.

A solid business, screening 139% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (1.93 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (51/100) 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.
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Price vs Fair Value (5 years)

2.26 THB 0.6244 THB Fair Value 2.58 THB Feb 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

60‑month range 0.6244 THB – 2.26 THB · fair‑value band 1.93 THB – 3.22 THB · the 1.08 THB price screens below the 2.58 THB fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Proud Real Estate Public Company (PROUD) currently trades at 1.08 THB, while our model-based Fair Value estimate is 2.58 THB, implying the stock looks roughly 138.9% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Proud Real Estate Public Company generated revenue of 6.0B THB at a net margin of 2.6%. Revenue declined 25.3% year over year. It earns a return on equity of 9.2%. Net debt stands at 3.3B THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 1.93 THB (bear case) to 3.22 THB (bull case); at 1.08 THB, the current price sits below 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 12% below its 52-week high and 78% 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 139%, PROUD screens cheaper 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 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
Highest evidence
Growth DCF 23.52 THB 41.69 THB 70.24 THB 80
Residual Income 1.46 THB 1.57 THB 1.82 THB 76
Rev-Margin DCF 10.81 THB 16.47 THB 28.62 THB 74
All 14 models by family
DCF Models
FCF DCF 25.20 THB 37.44 THB 74.03 THB 38
5Y Revenue Exit 9.88 THB 14.18 THB 22.86 THB 39
5Y EBITDA Exit 10.94 THB 16.33 THB 26.74 THB 41
10Y Revenue Exit 14.97 THB 25.48 THB 29.46 THB 36
10Y EBITDA Exit 15.82 THB 27.58 THB 45.17 THB 37
Multiples
P/S Multiple 2.20 THB 2.93 THB 3.66 THB 58
P/B Multiple 2.20 THB 2.93 THB 3.66 THB 55
EV/EBIT 5.31 THB 7.56 THB 9.81 THB 53
EV/EBITDA 4.10 THB 5.94 THB 7.79 THB 54
EV/Revenue 2.29 THB 3.88 THB 5.48 THB 43
Asset-Based
NCAV (Graham) 0.8900 THB 1.19 THB 1.78 THB 50
Growth DCF
Growth DCF 23.52 THB 41.69 THB 70.24 THB 80
Rev-Margin DCF 10.81 THB 16.47 THB 28.62 THB 74
Economic Profit
Residual Income 1.46 THB 1.57 THB 1.82 THB 76

Widest divergence: DCF Models (25.48 THB) versus Asset-Based (1.19 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 6.0B THB
Revenue growth (YoY) -25.3%
Net margin 2.6%
Return on equity 9.2%
Free cash flow 1.9B THB FY2025
P/E ratio 5.9
More key figures
Operating margin 7.1%
EPS (TTM) 0.1600 THB
Dividend yield 9.7%
EPS growth (YoY) -15.5%
Net debt 3.3B THB FY2025

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 54 · Market factors (momentum, volatility) 64

Profitability 37
Margins and returns on capital today
Quality Growth 74
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 31
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 66
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 40
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

Proud Real Estate Public Company Limited, together with its subsidiaries, engages in the real estate development businesses in Thailand. It also develops and sells land, houses, and residential condominium units; and provides property management services. Proud Real Estate Public Company Limited was founded in 1989 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Proud Real Estate Public Company reported revenue of 6.4B THB in FY2025 versus 3.1M THB in FY2021, a compound +570.7%/yr. Reported net income was 168M THB in FY2025.

Growth Quality 82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
6.4B THB
Latest YoY
+186.6%
Avg. growth/yr (3Y) 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.
+44.5%
Avg. growth/yr (5Y) 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.
+103.7%
Avg. growth/yr (22Y) 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.
+15.5%
Revenue +570.7%/yr
FY21 3.1M THB
FY22 2.1B THB
FY23 1.5B THB
FY24 2.2B THB
FY25 6.4B THB
Net income
FY21 −97.2M THB
FY22 229M THB
FY23 102M THB
FY24 56.6M THB
FY25 168M THB
Character of growth · EPS growth decomposed (2015-2025) +30.7 % p.a.
Revenue per share +2.9 pp

of which total revenue +28.3 pp · buybacks/dilution −25.4 pp

EBIT margin +25.7 pp
Tax rate +3.4 pp
Residual (interest, one-offs) −1.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Proud Real Estate Public Company Fair Value". https://www.fairvalue-calculator.com/stock/PROUD

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 +139% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 3% · Top 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 7% · Below median
Revenue growth -25% · Below median
Dividend yield (TTM) 8.7% · Top 25%
Debt / equity 1.06× · Higher than 75% of peers

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

P/E (TTM) 6.4× · Cheaper than 75% of peers
P/B 0.58× · Pricier than median
P/S (TTM) 0.17× · Cheaper than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 5.1× · Cheaper than median
PEG 0.01× · Cheaper than 75% of peers

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 100 · sector 48
FUTURE 0 · sector 0
PAST 37 · sector 10
HEALTH 47 · sector 84
DIVIDEND 100 · sector 38

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 Proud Real Estate Public Company (PROUD) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 2.58 THB versus a price of 1.08 THB, about +139% (undervalued).
What is the fair value of PROUD?
Our model-based fair value for Proud Real Estate Public Company is 2.58 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 1.08 THB.
What is the quality score of PROUD?
Proud Real Estate Public Company has a Quality Score of 51/100. 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 Proud Real Estate Public Company (PROUD)?
Proud Real Estate Public Company reported trailing-twelve-month revenue of about 6.0B THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of PROUD?
The net profit margin of Proud Real Estate Public Company is about 2.6%, meaning it keeps roughly 2.6% of revenue as net income. Based on the latest reported figures.
Does Proud Real Estate Public Company pay a dividend?
Proud Real Estate Public Company currently shows a dividend yield of about 9.68% relative to its recent price (as of Jul 16, 2026).

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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