N.C. Housing PCL (BKK:NCH-R) Cyclically Adjusted Price-to-FCF: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BKK:NCH-R N.C. Housing PCL BKK:NCH-R
23 GF Score
Price ฿0.42
GF Value ฿0.49
Valuation Modestly Undervalued
! 4 Warning Signs
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What is N.C. Housing PCL Cyclically Adjusted Price-to-FCF?

Shiller PE for Stocks: The True Measure of Stock Valuation


N.C. Housing PCL  (BKK:NCH-R) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


N.C. Housing PCL Cyclically Adjusted Price-to-FCF Related Terms


N.C. Housing PCL Cyclically Adjusted Price-to-FCF Historical Data

* Premium members only.

The historical data trend for N.C. Housing PCL's Cyclically Adjusted Price-to-FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

N.C. Housing PCL Cyclically Adjusted Price-to-FCF Chart

N.C. Housing PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 186.34 56.67 23.04 5.34 3.54

N.C. Housing PCL Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted Price-to-FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.93 3.90 3.51 2.96 2.89

N.C. Housing PCL Cyclically Adjusted Price-to-FCF Competitor Comparison

For the Real Estate - Development subindustry, N.C. Housing PCL's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


N.C. Housing PCL Cyclically Adjusted Price-to-FCF vs Real Estate Industry

For the Real Estate industry and Real Estate sector, N.C. Housing PCL's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where N.C. Housing PCL's Cyclically Adjusted Price-to-FCF falls into.


BKK:NCH-R
23GF Score
N.C. Housing PCL BKK:NCH-R
Cyclically Adjusted Price-to-FCF is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

N.C. Housing PCL Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

N.C. Housing PCL's Cyclically Adjusted FCF per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, N.C. Housing PCL's adjusted Free Cash Flow per Share data for the three months ended in Jun. 2026 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0.089/333.9520*333.9520
=0.089

Current CPI (Jun. 2026) = 333.9520.

N.C. Housing PCL Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201609 0.001 241.428 0.001
201612 -0.104 241.432 -0.144
201703 0.066 243.801 0.090
201706 0.053 244.955 0.072
201709 0.075 246.819 0.101
201712 0.091 246.524 0.123
201803 0.086 249.554 0.115
201806 0.102 251.989 0.135
201809 0.126 252.439 0.167
201812 0.187 251.233 0.249
201903 0.150 254.202 0.197
201906 -0.025 256.143 -0.033
201909 0.081 256.759 0.105
201912 -0.068 256.974 -0.088
202003 0.069 258.115 0.089
202006 0.200 257.797 0.259
202009 0.081 260.280 0.104
202012 0.142 260.474 0.182
202103 0.215 264.877 0.271
202106 -0.189 271.696 -0.232
202109 -0.073 274.310 -0.089
202112 -0.006 278.802 -0.007
202203 -0.088 287.504 -0.102
202206 -0.084 296.311 -0.095
202209 -0.086 296.808 -0.097
202212 0.039 296.797 0.044
202303 -0.133 301.836 -0.147
202306 0.018 305.109 0.020
202309 -0.384 307.789 -0.417
202312 0.120 306.746 0.131
202403 0.001 312.332 0.001
202406 0.060 314.175 0.064
202409 0.024 315.301 0.025
202412 0.078 315.605 0.083
202503 0.098 319.799 0.102
202506 0.065 322.561 0.067
202509 0.073 324.800 0.075
202512 0.106 324.054 0.109
202603 0.042 330.213 0.042
202606 0.089 333.952 0.089

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is N.C. Housing PCL (BKK:NCH-R) Overvalued in 2026?

Based on GuruFocus' analysis, N.C. Housing PCL stock appears to be undervalued. The current stock price of ฿0.42 is trading 14.3% below its estimated GF Value™ of ฿0.49. GuruFocus considers N.C. Housing PCL to be Modestly Undervalued.

Key valuation signals for BKK:NCH-R:

  • Cyclically Adjusted Price-to-FCF:
  • GF Value™: ฿0.49 vs. price of ฿0.42 (14.3% below fair value)
  • GF Score™: 23/100 with 4 warning signs

No single metric tells the full story. See the BKK:NCH-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


N.C. Housing PCL Business Description

Other Exchanges NCH:Thailand
Address 70, Moo 5, Tambol Bueng Kham Phroi, Aumpur Lumlookka, Patumtanee, THA, 12150
N.C. Housing PCL is involved in developing real estate properties. The business operation of the Group mainly involves Real Estate, Rental and Services, Contractor Property Management Services, and Intermediate Care and Wellness, the majority of its revenue is from Real Estate. The company operates in Thailand only.
23GF Score

Get the complete analysis for BKK:NCH-R

Cyclically Adjusted Price-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

฿0.42
Price
฿0.49
GF Value