L.P.N. Development Public Company Limited

SET:LPN Stock Report

Market Cap: ฿2.5b

L.P.N. Development Valuation

Is LPN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of LPN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

฿0.76
Fair Value
129.1% overvalued intrinsic discount
6
Number of Analysts

Below Fair Value: LPN (THB1.75) is trading above our estimate of fair value (THB0.76)

Significantly Below Fair Value: LPN is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for LPN?

Key metric: As LPN is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for LPN. This is calculated by dividing LPN's market cap by their current revenue.
What is LPN's PS Ratio?
PS Ratio0.3x
Sales฿7.27b
Market Cap฿2.47b

Price to Sales Ratio vs Peers

How does LPN's PS Ratio compare to its peers?

The above table shows the PS ratio for LPN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.7x
UV Univentures
0.1xn/a฿1.9b
BRI Britania
1x18.91%฿2.7b
SENA Sena Development
0.6xn/a฿2.8b
PRIN Prinsiri
1xn/a฿1.8b
LPN L.P.N. Development
0.3x0.66%฿2.5b

Price-To-Sales vs Peers: LPN is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does LPN's PS Ratio compare vs other companies in the TH Real Estate Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
UV Univentures
0.1xn/aUS$59.03m
PF Property Perfect
0.1xn/aUS$21.42m
CI Charn Issara Development
0.2xn/aUS$11.41m
MJD Major Development
0.2xn/aUS$11.31m
LPN 0.3xIndustry Avg. 1.0xNo. of Companies13PS00.81.62.43.24+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: LPN is good value based on its Price-To-Sales Ratio (0.3x) compared to the TH Real Estate industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is LPN's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

LPN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.3x
Fair PS Ratio0.4x

Price-To-Sales vs Fair Ratio: LPN is good value based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (0.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst LPN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿1.75
฿1.93
+10.19%
19.80%฿2.50฿1.50n/a6
Oct ’26฿1.75
฿1.93
+10.19%
19.80%฿2.50฿1.50n/a6
Sep ’26฿1.73
฿1.93
+11.46%
19.80%฿2.50฿1.50n/a6
Aug ’26฿1.73
฿1.97
+13.68%
18.25%฿2.50฿1.50n/a6
Jul ’26฿1.68
฿1.97
+17.06%
18.25%฿2.50฿1.50n/a6
Jun ’26฿1.99
฿1.97
-1.17%
18.25%฿2.50฿1.50n/a6
May ’26฿2.02
฿1.92
-4.95%
13.40%฿2.30฿1.60n/a4
Apr ’26฿2.04
฿2.10
+2.78%
15.63%฿2.50฿1.60n/a6
Mar ’26฿2.18
฿2.48
+13.76%
19.31%฿3.30฿1.80n/a6
Feb ’26฿2.20
฿2.56
+16.23%
18.85%฿3.30฿1.80n/a7
Jan ’26฿2.56
฿2.60
+1.56%
16.25%฿3.30฿2.10n/a7
Dec ’25฿2.84
฿2.60
-8.45%
16.25%฿3.30฿2.10n/a7
Nov ’25฿2.98
฿2.68
-10.12%
12.68%฿3.30฿2.35n/a7
Oct ’25฿3.34
฿2.68
-19.72%
11.86%฿3.30฿2.35฿1.758
Sep ’25฿2.98
฿2.68
-10.03%
11.86%฿3.30฿2.35฿1.738
Aug ’25฿3.16
฿2.81
-11.19%
13.46%฿3.45฿2.40฿1.738
Jul ’25฿3.16
฿2.81
-11.19%
13.46%฿3.45฿2.40฿1.688
Jun ’25฿3.30
฿2.81
-14.96%
13.46%฿3.45฿2.40฿1.998
May ’25฿3.48
฿2.86
-17.69%
14.05%฿3.45฿2.40฿2.027
Apr ’25฿3.58
฿2.86
-19.99%
14.05%฿3.45฿2.40฿2.047
Mar ’25฿3.64
฿2.88
-20.92%
14.56%฿3.45฿2.40฿2.187
Feb ’25฿3.76
฿3.19
-15.27%
11.09%฿3.50฿2.50฿2.207
Jan ’25฿3.98
฿3.21
-19.28%
10.52%฿3.50฿2.50฿2.568
Dec ’24฿3.92
฿3.30
-15.82%
12.23%฿4.00฿2.50฿2.849
Nov ’24฿3.98
฿3.63
-8.79%
12.33%฿4.50฿2.80฿2.989
Oct ’24฿4.16
฿3.67
-11.67%
10.27%฿4.50฿3.20฿3.349
฿1.93
Fair Value
9.2% undervalued intrinsic discount
6
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/10 22:59
End of Day Share Price 2025/10/10 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

L.P.N. Development Public Company Limited is covered by 37 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Therdsak ThaveeteerathamAsia Plus Securities Company Limited
Chutima WoramontriBNP Paribas Securities (Asia)
Jiraporn LinmaneechoteBofA Global Research