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Wyncoast Industrial Park Public Company (WIN) Fair Value & Analysis

Real Estate · TH · Market cap 168M THB

WI Wyncoast Industrial Park Public Company WIN · BK
Price0.2900 THB
Fair Value0.3500 THB
Upside+20.7%
Quality51/100
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Healthy Growth
Loss-making · -8.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/11)
Narrow moat 16/100
Evidence: Medium Range 0.2100 THB – 0.4200 THB Share as image

Fair value as of: Jul 16, 2026

From 14 valuation models · updated 25 days ago

Share price −3.3% over the past month.

A solid business, screening 21% undervalued on our models.

What matters now

  • 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 (0.2100 THB to 0.4200 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)

2.10 THB 0.2400 THB Fair Value 0.3500 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 0.2400 THB – 2.10 THB · fair‑value band 0.2100 THB – 0.4200 THB · the 0.2900 THB price screens below the 0.3500 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Wyncoast Industrial Park Public Company (WIN) currently trades at 0.2900 THB, while our model-based Fair Value estimate is 0.3500 THB, implying the stock looks roughly 20.7% 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: medium), always confirm before acting.

Over the trailing twelve months, Wyncoast Industrial Park Public Company generated revenue of 179M THB at a net margin of -8.7%. Revenue declined 58.5% year over year. It earns a return on equity of -3.5%. Net debt stands at 92.5M THB. Fundamentals as of Jul 16, 2026

Our scenario range runs from 0.2100 THB (bear case) to 0.4200 THB (bull case); at 0.2900 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 36% below its 52-week high and 32% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at 21%, WIN 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 0.2100 THB 0.3600 THB 0.5600 THB 80
Residual Income 0.4000 THB 0.3500 THB 0.2100 THB 76
Rev-Margin DCF 0.2200 THB 0.4300 THB 0.7100 THB 74
All 14 models by family
DCF Models
FCF DCF 0.2100 THB 0.3900 THB 0.6400 THB 38
5Y Revenue Exit 0.2200 THB 0.4400 THB 0.7300 THB 39
5Y EBITDA Exit 0.4300 THB 0.8700 THB 1.43 THB 41
10Y Revenue Exit 0.2100 THB 0.3900 THB 0.6700 THB 36
10Y EBITDA Exit 0.3300 THB 0.6600 THB 1.17 THB 37
Multiples
P/S Multiple 0.0300 THB 0.0400 THB 0.0500 THB 58
P/B Multiple 0.0300 THB 0.0400 THB 0.0500 THB 55
EV/EBIT 0.4900 THB 0.6900 THB 0.8800 THB 53
EV/EBITDA 0.6500 THB 0.9000 THB 1.14 THB 54
EV/Revenue 0.2400 THB 0.3700 THB 0.5100 THB 43
Asset-Based
NCAV (Graham) 0.3300 THB 0.4500 THB 0.6600 THB 50
Growth DCF
Growth DCF 0.2100 THB 0.3600 THB 0.5600 THB 80
Rev-Margin DCF 0.2200 THB 0.4300 THB 0.7100 THB 74
Economic Profit
Residual Income 0.4000 THB 0.3500 THB 0.2100 THB 76

Widest divergence: Asset-Based (0.4500 THB) versus Economic Profit (0.3500 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 179M THB
Revenue growth (YoY) -58.5%
Net margin -8.7%
Return on equity -3.5%
Free cash flow 17.8M THB FY2025
Operating margin -1.4%
More key figures
EPS (TTM) -0.0300 THB
EPS growth (YoY) +5.4%
Net debt 92.5M 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 52 · Market factors (momentum, volatility) 38

Profitability 16
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 42
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 17
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

Wyncoast Industrial Park Public Company Limited, together with its subsidiaries, engages in the sale and rental of custom duty-free zones for commercial and industrial activities in Thailand.

Full company description

Wyncoast Industrial Park Public Company Limited, together with its subsidiaries, engages in the sale and rental of custom duty-free zones for commercial and industrial activities in Thailand. It operates through Rent and Service; Construction Business; Produce and Sell Electricity from Solar Roof Top; Produce and Sell Water; and Sell Materials and Equipment segments. The company also engages in the rental of factories, warehouse buildings, office spaces, and staff accommodations; construction and renewable energy businesses; production and distribution of water, as well as electricity from solar energy; operation and management of properties and assets; and the sale of materials and equipment. The company was formerly known as Capetronic International Thailand Public Co. Ltd. and changed its name to Wyncoast Industrial Park Public Company Limited in October 2005. Wyncoast Industrial Park Public Company Limited was incorporated in 1985 and is headquartered in Bang Pakong, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wyncoast Industrial Park Public Company reported revenue of 212M THB in FY2025 versus 70.3M THB in FY2021, a compound +31.8%/yr. Reported net income was 1.4M THB in FY2025, compounding −61.6%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
212M THB
Latest YoY
+129.9%
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.
+40.5%
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.
+20.8%
Avg. growth/yr (23Y) 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.
+5.2%
Revenue +31.8%/yr
FY21 70.3M THB
FY22 76.6M THB
FY23 103M THB
FY24 92.4M THB
FY25 212M THB
Net income −61.6%/yr
FY21 66.5M THB
FY22 −23.2M THB
FY23 10.6M THB
FY24 2.0M THB
FY25 1.4M THB

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

Peer Group

Real Estate Services · 520 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 53 · Below median
Fair Value upside +21% · Above median
Return on assets 0% · Bottom 25%
Net margin (TTM) -9% · Bottom 25%
Operating margin (TTM) -2% · Bottom 25%
Revenue growth -59% · Bottom 25%
Debt / equity 0.13× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/S (TTM) 0.03× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 4.7× · 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 61 · sector 37
FUTURE 0 · sector 10
PAST 0 · sector 16
HEALTH 93 · sector 85
DIVIDEND 0 · sector 49

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 Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
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SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Wyncoast Industrial Park Public Company (WIN) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 0.3500 THB versus a price of 0.2900 THB, about +21% (undervalued).
What is the fair value of WIN?
Our model-based fair value for Wyncoast Industrial Park Public Company is 0.3500 THB (as of Jul 16, 2026), built from audited fundamentals. The current price is 0.2900 THB.
What is the quality score of WIN?
Wyncoast Industrial Park 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 Wyncoast Industrial Park Public Company (WIN)?
Wyncoast Industrial Park Public Company reported trailing-twelve-month revenue of about 179M THB (latest available figure, as of Jul 16, 2026).
What is the net profit margin of WIN?
The net profit margin of Wyncoast Industrial Park Public Company is about -8.7%, meaning it is currently running at a net loss. 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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