Stella X Public Company Limited

STELLA.BK

Real Estate - Development · Real Estate

Price

0.23 THB

+0.00 (+0.00%)

Market Cap

5.01B 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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Share count rising — dilution

+87.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 7.85B (2021) → 14.71B (2025)

Winston Score History

The full picture

Stella X Public Company Limited is a Thai real estate developer listed on the Stock Exchange of Thailand. The company focuses on residential and mixed-use property development, targeting homebuyers and investors in Thailand's domestic property market. It operates within Thailand's broader real estate sector, which includes housing projects, condominiums, and related development activities.

The company generates revenue primarily through property sales, meaning it builds and sells homes or units to buyers rather than collecting ongoing rent or subscriptions. Based on its current financials, Stella X is operating at a significant loss, with negative gross and operating margins, suggesting it is spending more than it earns from its projects. The main risk facing the company is its weak financial performance — negative returns on capital and deep operating losses indicate it must either improve project profitability or secure additional funding to remain viable in Thailand's competitive and interest-rate-sensitive property market.

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

-48.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+141.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

0 THB/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

79.4%ownership

Insiders own a meaningful stake in the company

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

7.4B THB cash & investments at current burn rate

Revenue declining

Stella X Public Company Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

2.6%

Thin — 2.6% gross margin

Profit after running costs

Operating Margin

-80.4%

Losing money on operations — -80.4%

Return on the money invested

ROCE

-24.6%

Weak — -24.6% 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

-15.7%

Shrinking sales (-15.7% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-139.8%

Burning cash (-139.8%)

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

0.87

Moderate — manageable debt (0.87)

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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