Federal International (2000) Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: BDU (SGD0.13) is trading above our estimate of fair value (SGD0)

Significantly Below Fair Value: BDU is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for BDU. This is calculated by dividing BDU's market cap by their current revenue.
What is BDU's PS Ratio?
PS Ratio	0.4x
Sales	S$45.99m
Market Cap	S$18.71m

BDU 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	-3.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for BDU 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	0.2x
N32 Nippecraft	0.1x	n/a	S$16.9m
541 Abundance International	0.02x	n/a	S$23.1m
5MD Soon Lian Holdings	0.3x	n/a	S$20.6m
AWC Brook Crompton Holdings	0.3x	n/a	S$19.5m
BDU Federal International (2000)	0.4x	n/a	S$18.7m

Price-To-Sales vs Peers: BDU is expensive based on its Price-To-Sales Ratio (0.4x) compared to the peer average (0.2x).

Price to Sales Ratio vs Industry

How does BDU's PS Ratio compare vs other companies in the SG Trade Distributors Industry?

1 Company	Price / Sales	Estimated Growth	Market Cap
541 Abundance International	0.02x	n/a	US$17.11m

No more companies available in this PS range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: BDU is good value based on its Price-To-Sales Ratio (0.4x) compared to the Asian Trade Distributors industry average (0.6x).

Price to Sales Ratio vs Fair Ratio

What is BDU'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.

BDU PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	n/a

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