Supalai Public Company (SPALI) Fair Value & Analysis
Real Estate · TH · Market cap 30.3B THB
Fair value as of: Aug 13, 2026
From 16 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from 26.17 THB to 24.33 THB (−7.0%) since Jul 18, 2026. Share price +5.1% over the past month.
A solid business, screening 47% undervalued on our models.
What matters now
- The price is below even our cautious bear case (20.84 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.
- A fairly wide model range (20.84 THB to 40.42 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range 12.48 THB – 19.13 THB · fair‑value band 20.84 THB – 40.42 THB · the 16.50 THB price screens below the 24.33 THB fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Supalai Public Company (SPALI) currently trades at 16.50 THB, while our model-based Fair Value estimate is 24.33 THB, implying the stock looks roughly 47.5% 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, Supalai Public Company generated revenue of 24.4B THB at a net margin of 16.5%. Revenue grew 6.9% year over year. It earns a return on equity of 7.3%. Net debt stands at 34.2B THB. Fundamentals as of Aug 13, 2026
Our scenario range runs from 20.84 THB (bear case) to 40.42 THB (bull case); at 16.50 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 9% below its 52-week high and 35% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 47%, SPALI 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.
All 16 models by family
Widest divergence: Multiples (36.01 THB) versus Growth DCF (7.96 THB). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 62
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
Supalai Public Company Limited, together with its subsidiaries, engages in the property development business in Thailand and Australia. It operates through Real estate Business; and Hotel Business and Management segments.
Full company description
Supalai Public Company Limited, together with its subsidiaries, engages in the property development business in Thailand and Australia. It operates through Real estate Business; and Hotel Business and Management segments. The company owns and operates housing projects, such as detached houses, duplex houses, townhouses, and condominiums under the Supalai brand name. It also develops office buildings for rent; and provides real estate project management, as well as the management of hotels and resorts. In addition, the company is involved in developing shopping centers; deals in trades in land and real estate properties; provision of rental and/or leasing services for real estate; investing in securities; and hotel development business. Supalai 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
Supalai Public Company reported revenue of 24.1B THB in FY2025 versus 29.2B THB in FY2021, a compound −4.6%/yr. Reported net income was 4.0B THB in FY2025, compounding −13.2%/yr from FY2021.
of which total revenue +3.5 pp · buybacks/dilution −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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Peer Group
Real Estate - Development · 590 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.
Valuation Multiples vs Real Estate - Development median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DLF Limited DLF | ₹661.75 | ₹146.13 | -78% |
| Lodha Developers Limited LODHA | ₹1,209 | ₹583.43 | -52% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,150 IDR | 1,330 IDR | -78% |
| PT Jaya Real Property, Tbk., JRPT | 1,080 IDR | 1,674 IDR | +55% |
| PT Bumi Serpong Damai Tbk, BSDE | 595.00 IDR | 1,488 IDR | +150% |
| PT Sentul City Tbk, BKSL | 73.00 IDR | 84.16 IDR | +15% |
| PT Ciputra Development Tbk, CTRA | 610.00 IDR | 1,525 IDR | +150% |
| Khang Dien House Trading and Investment Joint Stock Company KDH | 18,150 VND | 20,338 VND | +12% |
| PT Duta Pertiwi Tbk DUTI | 4,300 IDR | 6,239 IDR | +45% |
| PT Puradelta Lestari Tbk DMAS | 147.00 IDR | 164.33 IDR | +12% |
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Frequently asked questions
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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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