EN DE

Siamese Asset Public Company (SA) Fair Value & Analysis

Real Estate · TH · Market cap 8.5B THB

SA Siamese Asset Public Company SA · BK
Price7.05 THB
Fair Value1.65 THB
Upside-76.6%
Quality24/100
Watch Siamese Asset Public Company for free, get notified when fair value or trend changes. Watch for free
Weak Growth
Thin margins · 1.9% net margin
High debt · negative free cash flow
Trails peers (0/12)
Narrow moat 26/100
Evidence: High Range 1.24 THB – 2.06 THB Share as image

Fair value as of: Jul 19, 2026

From 6 valuation models · updated 21 days ago

Share price −0.7% over the past month.

Below-average quality, and screening another 77% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (2.06 THB). The favourable scenario is already priced in.
  • Weak quality (24/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

14.43 THB 6.03 THB Fair Value 1.65 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 6.03 THB – 14.43 THB · fair‑value band 1.24 THB – 2.06 THB · the 7.05 THB price screens above the 1.65 THB fair value. Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

Siamese Asset Public Company (SA) currently trades at 7.05 THB, while our model-based Fair Value estimate is 1.65 THB, implying the stock looks roughly 76.6% overvalued today. The Quality Score stands at 24/100 (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, Siamese Asset Public Company generated revenue of 2.1B THB at a net margin of 1.9%. Revenue declined 17.4% year over year. It earns a return on equity of 1.0%. Net debt stands at 14.4B THB. Fundamentals as of Jul 19, 2026

Our scenario range runs from 1.24 THB (bear case) to 2.06 THB (bull case); at 7.05 THB, the current price sits above 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 5% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -77%, SA 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
Residual Income 3.25 THB 3.13 THB 2.46 THB 76
Gordon GGM 0.7000 THB 1.40 THB 2.12 THB 70
DDM Multi-Stage 0.7000 THB 1.21 THB 1.48 THB 61
All 6 models by family
Dividend Discount
Gordon GGM 0.7000 THB 1.40 THB 2.12 THB 70
DDM Multi-Stage 0.7000 THB 1.21 THB 1.48 THB 61
Multiples
P/S Multiple 1.24 THB 1.65 THB 2.06 THB 58
P/B Multiple 1.24 THB 1.65 THB 2.06 THB 55
Asset-Based
NCAV (Graham) 2.32 THB 3.11 THB 4.64 THB 50
Economic Profit
Residual Income 3.25 THB 3.13 THB 2.46 THB 76

Widest divergence: Economic Profit (3.13 THB) versus Dividend Discount (1.21 THB). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 2.1B THB
Revenue growth (YoY) -17.4%
Net margin 1.9%
Return on equity 1.0%
Free cash flow −1.4B THB FY2025
P/E ratio 715.0
More key figures
Operating margin 18.5%
EPS (TTM) 0.0100 THB
EPS growth (YoY) -98.4%
Net debt 14.4B THB FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 24/100

Of which business quality 23 · Market factors (momentum, volatility) 57

Profitability 16
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 46
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 41
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

Siamese Asset Public Company Limited engages in the real estate development business in Thailand. The company operates through Property Development, Service, and Hotel, Rental, and Other segments. It develops, manages, and sells residential real estate projects, which include single houses, condominiums, and townhouses.

Full company description

Siamese Asset Public Company Limited engages in the real estate development business in Thailand. The company operates through Property Development, Service, and Hotel, Rental, and Other segments. It develops, manages, and sells residential real estate projects, which include single houses, condominiums, and townhouses. The company also offers consulting and management; juristic person management; health and services; space and kitchen equipment and real estate rental; and hotel management services, as well as operates training center. In addition, it engages in restaurant and beverage, restaurant, asset management, technology, and investment businesses, as well as health and wellness business, such as spa services. The company was incorporated in 2010 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Siamese Asset Public Company reported revenue of 2.3B THB in FY2025 versus 2.2B THB in FY2021, a compound +1.7%/yr. Reported net income was 116M THB in FY2025, compounding −5.6%/yr from FY2021.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.3B THB
Latest YoY
−48.8%
Avg. growth/yr (3Y)
+4.8%
Avg. growth/yr (5Y)
−7.3%
Avg. growth/yr (13Y)
+18.8%
Revenue +1.7%/yr
FY21 2.2B THB
FY22 2.0B THB
FY23 1.4B THB
FY24 4.6B THB
FY25 2.3B THB
Net income −5.6%/yr
FY21 147M THB
FY22 226M THB
FY23 193M THB
FY24 386M THB
FY25 116M THB

SA screens 77% overvalued. Compare with DLF Limited →

Share or link this analysis
For bloggers & editors: embed code + live data

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). "Siamese Asset Public Company Fair Value". https://www.fairvalue-calculator.com/stock/SA

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 24 · Bottom 25%
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 0% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 6% · Below median
Revenue growth -31% · Below median
Debt / equity 1.59× · Higher than 75% of peers

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

P/E (TTM) 705.0× · Pricier than 75% of peers
P/B 1.52× · Pricier than 75% of peers
P/S (TTM) 4.05× · Pricier than 75% of peers
EV/EBITDA 81.0× · Pricier 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 0 · sector 48
FUTURE 0 · sector 0
PAST 4 · sector 10
HEALTH 20 · sector 84
DIVIDEND 0 · sector 38

VALUE 0: the price sits above our fair-value range.

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 19, 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%

Compare Siamese Asset Public Company with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Real Estate stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is Siamese Asset Public Company (SA) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 1.65 THB versus a price of 7.05 THB, about −77% (overvalued).
What is the fair value of SA?
Our model-based fair value for Siamese Asset Public Company is 1.65 THB (as of Jul 19, 2026), built from audited fundamentals. The current price is 7.05 THB.
What is the quality score of SA?
Siamese Asset Public Company has a Quality Score of 24/100. 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 Siamese Asset Public Company (SA)?
Siamese Asset Public Company reported trailing-twelve-month revenue of about 2.1B THB (latest available figure, as of Jul 19, 2026).
What is the net profit margin of SA?
The net profit margin of Siamese Asset Public Company is about 1.9%, meaning it keeps roughly 1.9% 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.

14 days Pro free · no card

Track Siamese Asset Public Company and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.