1. Thailand Stocks

  2. •

    Real Estate

  3. •

    Real Estate - Development
L.P.N. Development Public Company Limited

L.P.N. Development Public Company Limited

LPN.BK
L.P.N. Development Public Company LimitedTH flagStock Exchange of Thailand
1.55
THB
- -
- -
2.15BMarket Cap
L.P.N. Development Public Company Limited
LPN.BK
(Stock Exchange of Thailand)

Recent

price

1.55

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
6.74
8.36
9.03
9.72
8.72
11.27
9.89
6.51
7.63
6.84
5.06
3.83
7.07
5.09
5.5
- -
5.01
Revenue per Share
1.11
1.3
1.51
1.58
1.37
1.64
1.47
0.72
0.93
0.86
0.49
0.21
0.42
0.24
0.08
- -
0.01
Basic EPS, GAAP
-0.11
0.82
-0.48
-0.86
-0.06
1.75
1.38
-0.56
1.11
-0.85
0.3
-0.35
0.21
-1.14
1.69
- -
0.98
Free Cash Flow per Basic Share
0.52
0.59
0.66
0.79
0.84
0.84
0.9
0.75
0.55
0.6
1.4
0.5
0.15
0.2
0.11
- -
0.11
Dividend per Share
3.8
4.4
5.32
6.1
6.63
7.42
7.98
7.95
8.3
8.59
7.7
7.41
7.76
7.81
7.78
- -
7.86
Book Value per Share
4.12
4.83
5.75
6.51
7.03
7.81
8.26
8.25
8.6
8.88
7.97
7.68
8.01
8.04
8.02
- -
8.12
Tangible Book Value per Share
1,476
1,476
1,476
1,476
1,476
1,476
1,476
1,476
1,476
1,455
1,454
1,454
1,454
1,454
1,454
- -
1,408
Basic Weighted Avg Shares
9,941
12,335
13,325
14,347
12,867
16,627
14,602
9,613
11,252
9,954
7,363
5,570
10,276
7,407
7,992
6,717
7,050
Sales/Revenue/Turnover
22.7
21.41
20.79
20.29
19.3
18.56
18.45
13.73
15.07
15.12
12.84
9.89
9.59
6.87
4.22
4.34
4.59
Operating Margin (%)
32
33
35
37
39
47
51
65
72
84
93
107
108
114
123
113
111
Depreciation Expense
1,637
1,917
2,229
2,329
2,021
2,413
2,176
1,062
1,367
1,256
716
302
612
353
111
29
9
Net Income, GAAP
30.6
30.22
23.59
21.17
20.89
22.66
20.48
22.07
21.2
20.28
23.25
21.5
25.16
26.55
44.77
50.46
65.86
Effective Tax Rate (%)
16.47
15.54
16.73
16.23
15.71
14.51
14.9
11.05
12.15
12.62
9.73
5.43
5.96
4.76
1.38
0.43
0.12
Profit Margin (%)
5,389
5,566
7,888
8,545
10,225
11,589
11,463
11,621
12,097
14,496
10,617
10,873
12,001
9,670
9,416
9,487
8,540
Working Capital
873
11
1,008
140
1,583
2,209
1,126
1,654
2,004
4,165
2,179
2,396
3,841
2,485
3,572
4,624
3,609
LT Debt
6,082
7,129
8,482
9,626
10,408
11,581
12,411
12,414
12,935
13,159
11,822
11,397
11,868
11,959
11,926
11,693
11,671
Total Equity
22.18
23.13
21.29
17.04
12.14
13.92
12.65
5.8
7.23
6.11
3.49
2.08
3.4
1.58
0.79
0.66
0.51
Return on Invested Capital (%)
24.92
26.51
25.12
18.71
13.3
14.93
13.55
6.29
7.7
6.66
3.94
2.24
3.59
1.66
0.64
0.49
0.36
Return on Capital (%)
31.57
31.69
31.06
27.64
21.53
23.28
19.15
9.04
11.4
10.15
6.05
2.75
5.55
3.12
0.98
0.26
0.08
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
5,475
5,393
5,773
LT Borrowings
4,765
4,541
3,533
LT Finance Leases
85
82
77
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,409
1,409
1,395
Market Capitalization
2,475
2,162
2,224

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
17,541
16,182
15,792
Cash, Cash Equivalents & STI
439
790
621
Accounts Receivable, Net
329
367
437
Inventories
16,623
14,868
14,582
Total Current Liabilities
6,707
6,695
7,252
Payables & Accruals
1,065
1,092
1,277
ST Debt
5,475
5,393
5,773
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.21%
-0.18%
-1.95%
Free Cash Flow
-210.06%
-266.11%
-55.36%
Net Income, GAAP
-22.39%
-28.1%
-74.14%
Sales/Revenue/Turnover
-4.27%
4.83%
-15.95%
Total Cash Common Dividend
-4.61%
-30.01%
-1.73%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,407
2,366
2,187
2,031
7,992
2025
1,529
1,515
1,698
1,976
6,717
2026
1,862
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.06
0.07
0.03
- -
0.08
2025
0.01
0.01
0.04
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.05
0.05
- -
0.11
2025
- -
0.05
0.05
- -
- -
2026
- -
- -
- -
- -
- -
Similar Companies
Suratwwala Business Group Limited (SBGLP.NS)
PDG Realty S.A. Empreendimentos e Participações (PDGRY)
China Evergrande Group (EGRNY)
Alembic Limited (ALEMBICLTD.BO)
Hemang Resources Limited (HEMANG.BO)
PT Intiland Development Tbk (DILD.JK)
Business
L.P.N. Development Public Company Limited, founded in 1989 and headquartered in Bangkok, Thailand, engages in the real estate business, primarily developing affordable urban residential condominiums, houses, and townhomes targeting middle to lower-middle income earners in Thailand. The company offers facility and community management services; residential, office, and commercial building management; tenant and buyer procurement; engineering services for condominiums; project and construction management; cleaning and receptionist services; consulting and research services; office building leases; solar cell energy electricity generation; security services; and advisory services for project development, operating through segments including real estate, rent and service, service and management, and others. It emphasizes large-scale projects under the LPN Design concept and Livable Community strategy to deliver product value and economies of scale in Bangkok and vicinity. In 2024, the company launched four new projects valued at Bt4.19 billion, comprising one condominium and three low-rise developments; recorded 9M24 presales of Bt6.89 billion, achieving 63% of its annual target; maintains a backlog of Bt2.23 billion with significant recognition in 2024-2027; and anticipates 4Q24 revenue recovery from backlog bookings amid inventory sales and promotions that narrowed gross margins, while reporting 9M24 net profit of Bt226 million.