Civmec Valuation

Q: What is the Fair Price of P9D when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

P9D (SGD1.09) is trading below our estimate of [[fair value]] (SGD2.14)

Is P9D 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-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of P9D when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: P9D (SGD1.09) is trading below our estimate of fair value (SGD2.14)

Significantly Below Fair Value: P9D is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for P9D?

Key metric: As P9D is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for P9D. This is calculated by dividing P9D's market cap by their current earnings.
What is P9D's PE Ratio?
PE Ratio	10.3x
Earnings	AU$64.41m
Market Cap	AU$474.60m

P9D 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	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	3.8x

Price to Earnings Ratio vs Peers

How does P9D's PE Ratio compare to its peers?

The above table shows the PE ratio for P9D vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	6.3x
E3B Wee Hur Holdings	2.2x	n/a	S$413.7m
F9D Boustead Singapore	6.7x	n/a	S$491.6m
IX2 PEC	11.8x	n/a	S$189.5m
J2T Hock Lian Seng Holdings	4.4x	n/a	S$169.0m
P9D Civmec	10.3x	2.7%	S$474.6m

Price-To-Earnings vs Peers: P9D is expensive based on its Price-To-Earnings Ratio (10.3x) compared to the peer average (6.3x).

Price to Earnings Ratio vs Industry

How does P9D's PE Ratio compare vs other companies in the SG Construction Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap
41B Huationg Global	1.3x	n/a	US$19.20m
1L2 Hiap Seng Industries	0.7x	n/a	US$12.52m

No more companies available in this PE range

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: P9D is expensive based on its Price-To-Earnings Ratio (10.3x) compared to the SG Construction industry average (6.5x).

Price to Earnings Ratio vs Fair Ratio

What is P9D's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

P9D PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	10.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate P9D's Price-To-Earnings 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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