T.Krungthai Industries Valuation

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

TKT (THB1.55) is trading below our estimate of [[fair value]] (THB13.92)

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

Below Fair Value: TKT (THB1.55) is trading below our estimate of fair value (THB13.92)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for TKT. This is calculated by dividing TKT's market cap by their current revenue.
What is TKT's PS Ratio?
PS Ratio	0.5x
Sales	฿1.11b
Market Cap	฿529.68m

TKT 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	0.6x
Enterprise Value/EBITDA	10.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TKT 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	0.8x
TATG Thai Auto Tools and Die	0.2x	14.5%	฿492.0m
CPR CPR Gomu Industrial	2.2x	n/a	฿919.4m
YUASA Yuasa Battery (Thailand)	0.4x	n/a	฿1.1b
IHL Interhides	0.5x	n/a	฿1.1b
TKT T.Krungthai Industries	0.5x	n/a	฿529.7m

Price-To-Sales vs Peers: TKT is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does TKT's PS Ratio compare vs other companies in the TH Auto Components Industry?

1 Company	Price / Sales	Estimated Growth	Market Cap
INGRS Ingress Industrial (Thailand)	0.07x	n/a	US$13.82m

No more companies available in this PS range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: TKT is good value based on its Price-To-Sales Ratio (0.5x) compared to the TH Auto Components industry average (0.9x).

Price to Sales Ratio vs Fair Ratio

What is TKT'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.

TKT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.5x
Fair PS Ratio	n/a

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