Country Group Development Public Company Limited

CGD.BK

Real Estate - Development · Real Estate

Price

0.09 THB

-0.01 (-10.00%)

Market Cap

744.0M THB

Exchange

Stock Exchange of Thailand

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Country Group Development is a Thai real estate developer based in Bangkok. The company builds and sells luxury residential properties, including high-end condominiums and mixed-use developments, primarily targeting wealthy Thai buyers and foreign investors. It is listed on the Stock Exchange of Thailand and operates mainly in prime Bangkok locations.

The company earns money by selling residential units and collecting rental or service income from its properties. With a market cap of roughly 0.7 billion USD, it is a mid-sized player in Thailand's competitive luxury property market. Its focus on premium Bangkok addresses gives it some pricing power, but the deeply negative operating margin signals that costs are significantly outpacing revenue right now. The main risk facing the business is its weak profitability — a negative ROIC of -5.4% and an operating margin of -119.4% suggest the company is burning through more cash than it generates, making financial stability a key concern for investors watching this stock.

Growth Profile

For growth stock investors

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

Revenue Growth

+3.9% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-164.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

0 THB/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

47.1%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

4.6B THB cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Country Group Development Public Company Limited is growing revenue at 4% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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

+0.0% over 4y

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

Diluted shares outstanding: 8.27B (2021) → 8.27B (2025)

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

42.6%

Healthy — 42.6% gross margin

Profit after running costs

Operating Margin

-29.9%

Losing money on operations — -29.9%

Return on the money invested

ROCE

-12.0%

Weak — -12.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-68.2%

Shrinking sales (-68.2% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-94.6%

Burning cash (-94.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.54

Conservative — low debt load (0.54)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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