Philippine Infradev Holdings Valuation

Is INFRA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of INFRA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: INFRA (₱0.27) is trading below our estimate of fair value (₱0.59)

Significantly Below Fair Value: INFRA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for INFRA?

Key metric: As INFRA is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for INFRA. This is calculated by dividing INFRA's market cap by their current revenue.
What is INFRA's PS Ratio?
PS Ratio	2.8x
Sales	₱577.57m
Market Cap	₱1.82b

INFRA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.7x
Enterprise Value/EBITDA	13.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does INFRA's PS Ratio compare to its peers?

The above table shows the PS ratio for INFRA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	1.1x
ARA Araneta Properties	1.8x	n/a	₱1.2b
ALCO Arthaland	0.3x	n/a	₱2.0b
HTI Haus Talk	1.7x	n/a	₱2.7b
BRN A Brown Company	0.7x	n/a	₱1.3b
INFRA Philippine Infradev Holdings	2.8x	n/a	₱1.6b

Price-To-Sales vs Peers: INFRA is expensive based on its Price-To-Sales Ratio (2.8x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

How does INFRA's PS Ratio compare vs other companies in the PH Real Estate Industry?

5 Companies	Price / Sales	Estimated Growth	Market Cap
FDC Filinvest Development	0.4x	n/a	US$794.09m
CLI Cebu Landmasters	0.5x	11.6%	US$164.67m
CPG Century Properties Group	0.3x	n/a	US$73.83m
ALCO Arthaland	0.3x	n/a	US$34.00m

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: INFRA is expensive based on its Price-To-Sales Ratio (2.8x) compared to the PH Real Estate industry average (2.4x).

Price to Sales Ratio vs Fair Ratio

What is INFRA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

INFRA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.8x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate INFRA's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Keppel Philippines Properties

₱905.0m

Operates as a real estate development company in the Philippines.

KEP

₱3.08

-1.6%

-55.4%

Cityland Development

₱3.4b

Develops, leases, and sells real estate properties in the Philippines.

CDC

₱0.69

1.5%

Robinsons Land

₱66.3b

Acquires, develops, operates, leases, disposes, and sells real estate properties in the Philippines.

RLC

₱13.80

-4.2%

-4.8%