BST:6TI

Stock Analysis Report

Frasers Property (Thailand)

Executive Summary

Frasers Property (Thailand) Public Company Limited develops and manages industrial properties in Thailand and Indonesia.

Snowflake

Fundamentals

Adequate balance sheet and slightly overvalued.

Risks

  • Frasers Property (Thailand) is covered by less than 3 analysts.

Share Price & News

How has Frasers Property (Thailand)'s share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.3%

BST:6TI

-1.4%

DE Real Estate

-1.6%

DE Market


1 Year Return

25.2%

BST:6TI

-5.2%

DE Real Estate

-10.5%

DE Market

6TI outperformed the Real Estate industry which returned -6.1% over the past year.

6TI outperformed the Market in Germany which returned -12% over the past year.


Share holder returns

6TIIndustryMarket
7 Day-1.3%-1.4%-1.6%
30 Day-1.6%-0.7%-5.4%
90 Day13.0%-9.9%-6.0%
1 Year27.7%25.2%-2.6%-5.2%-7.7%-10.5%
3 Year38.6%34.2%23.7%14.1%9.4%-0.02%
5 Year41.5%27.4%129.7%96.7%25.5%8.1%

Price Volatility Vs. Market

How volatile is Frasers Property (Thailand)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Frasers Property (Thailand) undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Frasers Property (Thailand)'s share price is below the future cash flow value, and at a moderate discount (> 20%).

Frasers Property (Thailand)'s share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Frasers Property (Thailand) is overvalued based on earnings compared to the DE Real Estate industry average.

Frasers Property (Thailand) is overvalued based on earnings compared to the Germany market.


Price Based on Expected Growth

Frasers Property (Thailand) earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

Frasers Property (Thailand) is overvalued based on assets compared to the DE Real Estate industry average.


Next Steps

Future Growth

How is Frasers Property (Thailand) expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

-0.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Frasers Property (Thailand)'s revenue is expected to grow significantly at over 20% yearly.

Frasers Property (Thailand)'s earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Frasers Property (Thailand)'s revenue growth is expected to exceed the Germany market average.

Frasers Property (Thailand)'s earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.

Frasers Property (Thailand)'s earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Frasers Property (Thailand) is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Frasers Property (Thailand) performed over the past 5 years?

-5.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Frasers Property (Thailand)'s year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.

Frasers Property (Thailand)'s 1-year earnings growth exceeds its 5-year average (77.2% vs -5.7%)

Frasers Property (Thailand)'s earnings growth has exceeded the DE Real Estate industry average in the past year (77.2% vs 7.1%).


Return on Equity

Frasers Property (Thailand) has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Frasers Property (Thailand) used its assets less efficiently than the DE Real Estate industry average last year based on Return on Assets.


Return on Capital Employed

Frasers Property (Thailand)'s use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Frasers Property (Thailand)'s financial position?


Financial Position Analysis

Frasers Property (Thailand) is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Frasers Property (Thailand)'s long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Frasers Property (Thailand)'s level of debt (73.5%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (188% vs 73.5% today).

Debt is well covered by operating cash flow (25.2%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 4.6x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.5x debt.


Next Steps

Dividend

What is Frasers Property (Thailand)'s current dividend yield, its reliability and sustainability?

2.20%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Frasers Property (Thailand)'s pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.61%).

Frasers Property (Thailand)'s dividend is below the markets top 25% of dividend payers in Germany (4.29%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.7x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Frasers Property (Thailand)'s salary, the management and board of directors tenure and is there insider trading?

1.8yrs

Average management tenure


CEO

Sopon Racharaksa (47yo)

1.4yrs

Tenure

Mr. Sopon Racharaksa has been the President of TICON Industrial Connection Public Company Limited since January 16, 2017 and its Acting CEO since March 31, 2018. Mr. Racharaksa is Director of TICON Managem ...


Management Age and Tenure

1.8yrs

Average Tenure

49.5yo

Average Age

The average tenure for the Frasers Property (Thailand) management team is less than 2 years, this suggests a new team.


Board Age and Tenure

2.6yrs

Average Tenure

56yo

Average Age

The average tenure for the Frasers Property (Thailand) board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Somsak Ratanavirakul (59yo)

    Head of Sales & Leasing - Factory

    • Tenure: 1.8yrs
  • Lanchakorn Kongsakul (58yo)

    Head of Human Resources

    • Tenure: 2.6yrs
  • Rojana Asawavichienjinda (51yo)

    Head of Finance & Accounting

    • Tenure: 2.6yrs
  • Lalitphant Phiriyaphant (53yo)

    CFO & Corporate Secretary

    • Tenure: 2.6yrs
  • Hataikan Duttadintorn (37yo)

    Head of Corporate Communication

  • Yuko Hoshi (48yo)

    Head of Sales & Leasing-Factory

    • Tenure: 1.8yrs
  • Sopon Racharaksa (47yo)

    President & Acting CEO

    • Tenure: 1.4yrs
  • Kamonkarn Kongkathong (37yo)

    Head of Corporate Strategy & Investment

    • Tenure: 0.8yrs
  • Siriporn Sombatwatthana (56yo)

    Head of Administration

  • Rungtip Piyayodilokchai (48yo)

    Head of Strategic Finance

    • Tenure: 1.8yrs

Board Members

  • Chali Sophonpanich (58yo)

    Director

    • Tenure: 14.4yrs
    • Compensation: ฿1.14m
  • Chatchaval Jiaravanon (57yo)

    Independent Director

    • Tenure: 15.3yrs
    • Compensation: ฿1.28m
  • Chotiphat Bijananda (55yo)

    Director

    • Tenure: 2.6yrs
    • Compensation: ฿1.24m
  • Chai Vinichbutr (45yo)

    Director

    • Tenure: 6.8yrs
    • Compensation: ฿1.07m
  • Chainoi Puankosoom (68yo)

    Chairman of the Board

    • Tenure: 2.6yrs
    • Compensation: ฿1.75m
  • Uten Lohachitpitaks (45yo)

    Director

    • Tenure: 2.6yrs
    • Compensation: ฿1.07m
  • Tithiphan Chuerboonchai (66yo)

    Independent Director

    • Tenure: 2.3yrs
    • Compensation: ฿1.14m
  • Panote Sirivadhanabhakdi (42yo)

    Director

    • Tenure: 2.6yrs

Company Information

Frasers Property (Thailand) Public Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Frasers Property (Thailand) Public Company Limited
  • Ticker: 6TI
  • Exchange: BST
  • Founded: 1990
  • Industry: real estate development
  • Sector: real estate
  • Market Cap: ฿37.108b
  • Listing Market Cap: ฿1.081b
  • Shares outstanding: 2.02b
  • Website: Click here

Location

  • Frasers Property (Thailand) Public Company Limited
  • Sathorn City Tower
  • 13/1th Floor
  • Bangkok
  • 10120
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FPTSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBJun 2002
FPT-RSET (The Stock Exchange of Thailand)THB1(NVDR)THTHBJun 2002
6TIBST (Boerse-Stuttgart)THB1(ALIEN MARKET)DEEURJun 2002

Biography

Frasers Property (Thailand) Public Company Limited develops and manages industrial properties in Thailand and Indonesia. The company manages 2.7 million square meters of factories and warehouses. It also e ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/16 21:35
End of Day Share Price2019/08/16 00:00
Earnings2019/03/31
Annual Earnings2018/09/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.