Halcyon Technology Valuation

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

HTECH-R (THB4.38) is trading below our estimate of [[fair value]] (THB5.93)

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

Below Fair Value: HTECH-R (THB4.38) is trading below our estimate of fair value (THB5.93)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HTECH-R. This is calculated by dividing HTECH-R's market cap by their current earnings.
What is HTECH-R's PE Ratio?
PE Ratio	18x
Earnings	฿72.84m
Market Cap	฿1.31b

HTECH-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	1.1x
Enterprise Value/EBITDA	5.4x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does HTECH-R's PE Ratio compare to its peers?

The above table shows the PE ratio for HTECH-R 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	21.9x
IROYAL Interroyal Engineering	9.4x	n/a	฿897.0m
FTE Firetrade Engineering	11.3x	n/a	฿1.0b
BM Bangkok Sheet Metal	36.4x	n/a	฿1.9b
APCS Asia Precision	30.4x	n/a	฿1.3b
HTECH-R Halcyon Technology	18x	n/a	฿1.3b

Price-To-Earnings vs Peers: HTECH-R is good value based on its Price-To-Earnings Ratio (18x) compared to the peer average (22x).

Price to Earnings Ratio vs Industry

How does HTECH-R's PE Ratio compare vs other companies in the Asian Machinery Industry?

22 Companies	Price / Earnings	Estimated Growth	Market Cap

22 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: HTECH-R is good value based on its Price-To-Earnings Ratio (18x) compared to the Asian Machinery industry average (22.5x).

Price to Earnings Ratio vs Fair Ratio

What is HTECH-R'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.

HTECH-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	18x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HTECH-R'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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