Index International Group Valuation

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

IND-R (THB0.8) is trading below our estimate of [[fair value]] (THB1.76)

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

Below Fair Value: IND-R (THB0.8) is trading below our estimate of fair value (THB1.76)

Significantly Below Fair Value: IND-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 IND-R?

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

The above table shows the Price to Earnings ratio for IND-R. This is calculated by dividing IND-R's market cap by their current earnings.
What is IND-R's PE Ratio?
PE Ratio	4.9x
Earnings	฿57.02m
Market Cap	฿283.50m

IND-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	0.2x
Enterprise Value/EBITDA	2x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for IND-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	14x
TIGER Thai Enger Holding	29.1x	n/a	฿285.2m
FLOYD Floyd	11.5x	n/a	฿328.9m
QTCG QTCG	3.1x	n/a	฿204.0m
ETE Eastern Technical Engineering	12.2x	n/a	฿515.2m
IND-R Index International Group	4.9x	n/a	฿283.5m

Price-To-Earnings vs Peers: IND-R is good value based on its Price-To-Earnings Ratio (4.9x) compared to the peer average (14x).

Price to Earnings Ratio vs Industry

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

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: IND-R is good value based on its Price-To-Earnings Ratio (4.9x) compared to the TH Construction industry average (13.5x).

Price to Earnings Ratio vs Fair Ratio

What is IND-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.

IND-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	4.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate IND-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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