Chiangmai Rimdoi Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: CRD-R (THB0.43) is trading below our estimate of fair value (THB0.46)

Significantly Below Fair Value: CRD-R is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CRD-R?

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

The above table shows the Price to Sales ratio for CRD-R. This is calculated by dividing CRD-R's market cap by their current revenue.
What is CRD-R's PS Ratio?
PS Ratio	0.2x
Sales	฿893.81m
Market Cap	฿215.00m

CRD-R 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	0.4x
Enterprise Value/EBITDA	28.1x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does CRD-R's PS Ratio compare to its peers?

The above table shows the PS ratio for CRD-R 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	0.5x
QTCG QTCG	0.2x	n/a	฿204.0m
PPS Project Planning Service	0.5x	n/a	฿172.0m
STOWER Sky Tower	0.7x	n/a	฿258.8m
TIGER Thai Enger Holding	0.4x	n/a	฿285.2m
CRD-R Chiangmai Rimdoi	0.2x	n/a	฿215.0m

Price-To-Sales vs Peers: CRD-R is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (0.4x).

Price to Sales Ratio vs Industry

How does CRD-R's PS Ratio compare vs other companies in the TH Construction Industry?

4 Companies	Price / Sales	Estimated Growth	Market Cap
ITD Italian-Thai Development	0.04x	-4.5%	US$79.05m
TTCL TTCL	0.07x	-3.0%	US$42.21m
PLE Power Line Engineering	0.05x	n/a	US$14.90m
NWR Nawarat Patanakarn	0.04x	n/a	US$11.91m

No more companies available in this PS range

4 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: CRD-R is good value based on its Price-To-Sales Ratio (0.2x) compared to the TH Construction industry average (0.4x).

Price to Sales Ratio vs Fair Ratio

What is CRD-R'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.

CRD-R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.2x
Fair PS Ratio	n/a

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