AP.BK
Strong BuyFull HouseAI neutralAP (Thailand) Public Company Limited · Real Estate · Thailand · $742M
THB 7.85 +0.6% · close 5 Oct · scored 6 Oct
Full House: Strong business, sensible price, market agrees. The rare full house.
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AP (Thailand) is one of Thailand's larger listed homebuilders, with a mix of low-rise housing and condominium projects around Bangkok, and it screens as inexpensive on earnings and book value. Developers of this kind earn their returns project by project, so profits depend on mortgage approvals, household debt and the housing cycle rather than on a lasting cost or brand advantage. There is no recent company-specific news showing demand is turning up, and elevated energy and food prices put pressure on the Thai households who buy its homes.
ABOUT AP (THAILAND) PUBLIC COMPANY LIMITED
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AP (Thailand) Public Company Limited, together with its subsidiaries, engages in the provision of real estate development business in Thailand. It operates through three segments: LowRise, HighRise, and Other.
FINANCIAL SUMMARY (THB)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 38.5B | 38.0B | 37.0B | 37.3B | -1.0% | 40.4B | 39.9B | 41.3B | 5.2% |
| EPS (THB) | 1.87 | 1.92 | 1.60 | 1.37 | -9.9% | 1.42 | 1.45 | 1.56 | 6.8% |
| Shares | 3.1B | 3.1B | 3.1B | 3.1B | 0.0% | 3.1B | — | — | — |
| Debt | 23.1B | 34.4B | 33.1B | 31.3B | 10.7% | 33.7B | — | — | — |
| Equity | 36.7B | 40.8B | 43.7B | 46.1B | 7.8% | — | — | — | — |
| Op CF | -1.9B | -10.8B | 3.1B | 1.8B | -40.3% | 1.8B | — | — | — |
| Inv CF | 1.3B | -227.9M | -309.0M | 1.3B | — | — | — | — | — |
| Fin CF | 136.3M | 11.5B | -2.2B | -3.8B | — | — | — | — | — |
Calmer than 79% of stocks we rank over the past year (27% a year).
How this is worked out
What it measures: day-to-day price moves over the past year, as a yearly figure, ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Real Estate, ranked by industry match, size, and score similarity. Cross-listings of AP.BK are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| AP.BK | AP (Thailand) Public Company Limited(you) | $742M | 92 | Strong Buy |
| SPALI.BK | Supalai Public Company Limited | $909M | 91 | Strong Buy |
| AMATA.BK | Amata Corporation Public Company Limited | $1.2B | 98 | Strong Buy |
| QH.BK | Quality Houses Public Company Limited | $437M | 84 | Strong Buy |
| SIRI.BK | Sansiri Public Company Limited | $761M | 71 | Buy |
| SC.BK | SC Asset Corporation Public Company Limited | $258M | 97 | Strong Buy |
| ASW.BK | Assetwise Public Company Limited | $207M | 91 | Strong Buy |
| FPT.BK | Frasers Property (Thailand) Public Company Limited | $495M | 68 | Buy |
| TITLE.BK | Rhom Bho Property Public Company Limited | $208M | 84 | Strong Buy |
| PSH.BK | Pruksa Holding Public Company Limited | $251M | 79 | Buy |
Peer medians: ROE 7.3% · P/E 9.1x · Gross margin 54.5%
Company Deep Dive
Business segments breakdown, earnings transcript analysis, management credibility scoring, competitive landscape, and scenario modelling.