Nawarat Patanakarn Valuation

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

NWR-R (THB0.17) is trading below our estimate of [[fair value]] (THB3.27)

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

Below Fair Value: NWR-R (THB0.17) is trading below our estimate of fair value (THB3.27)

Significantly Below Fair Value: NWR-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 NWR-R?

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

The above table shows the Price to Sales ratio for NWR-R. This is calculated by dividing NWR-R's market cap by their current revenue.
What is NWR-R's PS Ratio?
PS Ratio	0.05x
Sales	฿9.70b
Market Cap	฿439.53m

NWR-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	0.7x
Enterprise Value/EBITDA	-8.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for NWR-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	0.3x
TPOLY Thai Polycons	0.1x	n/a	฿395.2m
SCI SCI Electric	0.4x	n/a	฿592.5m
PROS Prosper Engineering	0.5x	n/a	฿623.2m
ETE Eastern Technical Engineering	0.3x	n/a	฿526.4m
NWR-R Nawarat Patanakarn	0.05x	n/a	฿439.5m

Price-To-Sales vs Peers: NWR-R is good value based on its Price-To-Sales Ratio (0x) compared to the peer average (0.3x).

Price to Sales Ratio vs Industry

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

5 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	0.4x	14.2%
NWR-R Nawarat Patanakarn	0.05x	n/a	US$12.70m
ITD Italian-Thai Development	0.04x	-4.5%	US$80.89m
TTCL TTCL	0.08x	-3.0%	US$42.73m

5 Companies		Estimated Growth	Market Cap
Industry Avg.	0.4x	33.1%
NWR-R Nawarat Patanakarn	0.05x	n/a	US$12.70m

No more companies

Price-To-Sales vs Industry: NWR-R is good value based on its Price-To-Sales Ratio (0x) compared to the TH Construction industry average (0.4x).

Price to Sales Ratio vs Fair Ratio

What is NWR-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.

NWR-R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.05x
Fair PS Ratio	n/a

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