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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 0.6x - 0.7x | 0.7x |
Selected Fwd Ps Multiple | 0.6x - 0.7x | 0.6x |
Fair Value | €7.25 - €8.01 | €7.63 |
Upside | 21.9% - 34.7% | 28.3% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Diamond Building Products Public Company Limited | - | SET:DRT |
Smart Concrete Public Company Limited | - | SET:SMART |
Siam City Cement Public Company Limited | - | SET:SCCC |
Buzzi S.p.A. | - | DB:UCM |
Heidelberg Materials AG | - | OTCPK:HLBZ.F |
The Siam Cement Public Company Limited | - | DB:TCM1 |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
DRT | SMART | SCCC | UCM | HLBZ.F | TCM1 | |||
SET:DRT | SET:SMART | SET:SCCC | DB:UCM | OTCPK:HLBZ.F | DB:TCM1 | |||
Historical Sales Growth | ||||||||
5Y CAGR | 1.0% | 4.5% | -1.6% | 6.1% | 2.4% | 3.1% | ||
3Y CAGR | 1.1% | 8.2% | 1.8% | 7.9% | 4.2% | -1.2% | ||
Latest Twelve Months | -13.1% | -30.1% | 29.4% | 5.4% | 4.2% | 1.8% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 11.4% | 11.3% | 8.2% | 17.7% | 6.7% | 5.7% | ||
Prior Fiscal Year | 11.3% | 15.0% | 6.3% | 22.3% | 9.6% | 5.2% | ||
Latest Fiscal Year | 10.1% | 15.0% | 12.2% | 21.8% | 8.2% | 1.2% | ||
Latest Twelve Months | 7.5% | 9.9% | 10.3% | 20.3% | 8.6% | 3.7% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 7.9x | 4.2x | 6.3x | 6.1x | 9.9x | 12.8x | ||
Price / LTM Sales | 0.9x | 1.3x | 0.9x | 1.9x | 1.6x | 0.5x | ||
LTM P/E Ratio | 12.6x | 12.9x | 8.4x | 9.5x | 18.9x | 14.8x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 0.9x | 1.3x | 1.9x | |||||
Historical LTM P/S Ratio | 0.4x | 0.7x | 1.1x | |||||
Selected Price / Sales Multiple | 0.6x | 0.7x | 0.7x | |||||
(x) LTM Sales | 507,788 | 507,788 | 507,788 | |||||
(=) Equity Value | 326,898 | 344,103 | 361,308 | |||||
(/) Shares Outstanding | 1,200.0 | 1,200.0 | 1,200.0 | |||||
Implied Value Range | 272.42 | 286.75 | 301.09 | |||||
FX Rate: THB/EUR | 37.6 | 37.6 | 37.6 | Market Price | ||||
Implied Value Range (Trading Cur) | 7.25 | 7.63 | 8.01 | 5.95 | ||||
Upside / (Downside) | 21.9% | 28.3% | 34.7% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | DRT | SMART | SCCC | UCM | HLBZ.F | TCM1 | |
Value of Common Equity | 4,466 | 604 | 44,849 | 8,599 | 35,007 | 268,275 | |
(/) Shares Outstanding | 812.0 | 1,041.6 | 298.0 | 181.0 | 177.1 | 1,200.0 | |
Implied Stock Price | 5.50 | 0.58 | 150.50 | 47.50 | 197.70 | 223.56 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 0.85 | 37.57 | |
Implied Stock Price (Trading Cur) | 5.50 | 0.58 | 150.50 | 47.50 | 232.75 | 5.95 | |
Trading Currency | THB | THB | THB | EUR | USD | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 0.85 | 37.57 |