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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Pb Multiple | 2.8x - 3.1x | 3.0x |
Historical Pb Multiple | 1.9x - 3.3x | 2.5x |
Fair Value | ฿12.39 - ฿13.69 | ฿13.04 |
Upside | 6.8% - 18.0% | 12.4% |
Benchmarks | - | Full Ticker |
Thai Coconut Public Company Limited | - | SET:COCOCO |
NSL Foods Public Company Limited | - | SET:NSL |
Royal Plus Public Company Limited | - | SET:PLUS |
Thaifoods Group Public Company Limited | - | SET:TFG |
JD Food Public Company Limited | - | SET:JDF |
Ichitan Group Public Company Limited | - | SET:ICHI |
Select Price / Book Ratio | ||||||||
Benchmark Companies | ||||||||
COCOCO | NSL | PLUS | TFG | JDF | ICHI | |||
SET:COCOCO | SET:NSL | SET:PLUS | SET:TFG | SET:JDF | SET:ICHI | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 27.1% | 28.2% | NM- | 16.9% | -5.6% | 26.2% | ||
3Y CAGR | 32.4% | 41.5% | -20.5% | 77.5% | 20.7% | 33.7% | ||
Latest Twelve Months | 27.1% | 62.2% | -77.2% | 486.9% | 88.6% | 18.7% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 10.6% | 6.7% | 10.7% | 4.4% | 6.9% | 12.8% | ||
Prior Fiscal Year | 11.6% | 6.9% | 13.2% | -1.4% | 6.7% | 15.5% | ||
Latest Fiscal Year | 10.4% | 9.2% | 3.0% | 4.8% | 12.1% | 17.2% | ||
Latest Twelve Months | 10.4% | 9.2% | 3.0% | 4.8% | 12.1% | 17.2% | ||
Return on Equity | ||||||||
5 Year Average Margin | 22.8% | 25.4% | 15.6% | 15.3% | 6.8% | 12.5% | ||
Prior Fiscal Year | 23.0% | 22.5% | 14.4% | -5.6% | 6.2% | 18.3% | ||
Latest Twelve Months | 19.5% | 31.4% | 3.2% | 20.9% | 11.0% | 22.6% | ||
Next Fiscal Year | 22.8% | 28.8% | 12.7% | 24.9% | 7.5% | 22.8% | ||
Two Fiscal Years Forward | 25.1% | 27.1% | 14.4% | 20.7% | 7.3% | 25.1% | ||
Current Trading Multiples | ||||||||
Price / LTM Sales | 1.6x | 1.6x | 1.4x | 0.5x | 1.7x | 2.0x | ||
Price / LTM EPS | 15.4x | 17.7x | 45.5x | 9.9x | 13.8x | 11.5x | ||
Price / Book | 2.9x | 5.1x | 1.5x | 1.9x | 1.5x | 2.6x | ||
Price / Fwd Book | 2.5x | 4.2x | 1.4x | 1.5x | 1.4x | 2.7x | ||
Low | Mid | High | ||||||
Benchmark P/B Ratio | 1.5x | 1.9x | 5.1x | |||||
Historical P/B Ratio | 1.9x | 2.5x | 3.3x | |||||
Selected P/B Multiple | 2.8x | 3.0x | 3.1x | |||||
(x) Book Value | 5,711 | 5,711 | 5,711 |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | COCOCO | NSL | PLUS | TFG | JDF | ICHI | |
Value of Common Equity | 10,511 | 9,600 | 1,970 | 31,088 | 1,104 | 15,080 | |
(/) Shares Outstanding | 1,470.0 | 300.0 | 670.0 | 5,810.8 | 600.0 | 1,300.0 | |
Implied Stock Price | 7.15 | 32.00 | 2.94 | 5.35 | 1.84 | 11.60 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 7.15 | 32.00 | 2.94 | 5.35 | 1.84 | 11.60 | |
Trading Currency | THB | THB | THB | THB | THB | THB | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |