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Jakpaisan Estate Public Company Limited

JAK.BK
66
Real Estate - Development · Real Estate
Price
1.24 THB
+0.00 (+0.00%)
Market Cap
396.8M THB
Exchange
Stock Exchange of Thailand
Winston Score
66
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 9, 2026 · filings through Mar 31, 2026

Jakpaisan Estate is a Thai real estate developer that builds and sells residential properties, including houses, townhouses, and housing estates. Its main customers are middle-income Thai homebuyers looking for affordable to mid-range housing in and around Thailand. The company operates in the Thai property development industry, which is closely tied to local economic conditions and consumer confidence.

Jakpaisan Estate makes money primarily by selling completed residential units, meaning revenue comes in when homes are transferred to buyers rather than through recurring subscriptions or rent. The company operates entirely within Thailand, and with a market cap of around $0.4 billion, it is a smaller regional developer competing against larger Thai builders like Pruksa and LPN. Its gross margin of around 30% is reasonable for the sector, but the key risk it faces is Thailand's sluggish housing demand and rising household debt levels, which can slow home purchases and pressure sales volumes going forward.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+58.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+671.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

80.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

$253M cash & investments at current burn rate

Revenue accelerating

Jakpaisan Estate Public Company Limited grew revenue 59% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.9% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 317.3M (2021) → 320.0M (2025)

Score breakdown

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Quality

Gross Margin
36.6%
Modest — 36.6% gross margin
Operating Margin
17.9%
Healthy — 17.9% operating margin
ROCE
2.7%
Weak — 2.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
+79.8%
Fast-growing sales (+79.8% YoY)
EPS YoY
+202.4%
Earnings growing fast (+202.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion
240%
Turns 240% of profit into real cash
FCF Margin
26.6%
Converts sales into free cash efficiently (26.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity
0.31
Conservative — low debt load (0.31)
Interest Cover
6.52x
Adequate interest coverage (6.5x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)
7.1x
Attractive valuation — P/E 7.1

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend Yield
4.44%
Healthy income — 4.44% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth
N/A
Data not available

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