Tariq Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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 TCORP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TCORP (PKR13.9) is trading below our estimate of fair value (PKR472.92)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for TCORP. This is calculated by dividing TCORP's market cap by their current revenue.
What is TCORP's PS Ratio?
PS Ratio	0.1x
Sales	PK₨9.31b
Market Cap	PK₨920.27m

TCORP 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	0.2x
Enterprise Value/EBITDA	-44.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TCORP 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	0.1x
JSML Jauharabad Sugar Mills	0.1x	n/a	PK₨851.5m
SHEZ Shezan International	0.1x	n/a	PK₨966.3m
BNL Bunny's	0.1x	n/a	PK₨987.4m
POML Punjab Oil Mills	0.1x	n/a	PK₨899.8m
TCORP Tariq	0.1x	n/a	PK₨920.3m

Price-To-Sales vs Peers: TCORP is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.1x).

Price to Sales Ratio vs Industry

How does TCORP's PS Ratio compare vs other companies in the PK Food Industry?

7 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	0.3x	7.9%
TCORP Tariq	0.1x	n/a	US$3.31m
PMRS Premier Sugar Mills & Distillery	0.05x	n/a	US$6.67m
CHAS Chashma Sugar Mills	0.05x	n/a	US$6.60m

7 Companies		Estimated Growth	Market Cap
Industry Avg.	0.3x	16.3%
TCORP Tariq	0.1x	n/a	US$3.31m

No more companies

Price-To-Sales vs Industry: TCORP is good value based on its Price-To-Sales Ratio (0.1x) compared to the PK Food industry average (0.3x).

Price to Sales Ratio vs Fair Ratio

What is TCORP'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.

TCORP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.1x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate TCORP'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.

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