Stecon Group Valuation

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

STECON-R (THB7.9) is trading below our estimate of [[fair value]] (THB15.34)

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: STECON-R (THB7.9) is trading below our estimate of fair value (THB15.34)

Significantly Below Fair Value: STECON-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 STECON-R?

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

The above table shows the Price to Earnings ratio for STECON-R. This is calculated by dividing STECON-R's market cap by their current earnings.
What is STECON-R's PE Ratio?
PE Ratio	50x
Earnings	฿240.20m
Market Cap	฿12.00b

STECON-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	11x
PEG Ratio	1.3x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for STECON-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	16.3x
TKC Turnkey Communication Services	17.6x	n/a	฿4.8b
TEAMG TEAM Consulting Engineering and Management	22.5x	n/a	฿3.0b
UNIQ Unique Engineering and Construction	18.7x	n/a	฿3.1b
SYNTEC Syntec Construction	6.4x	n/a	฿2.5b
STECON-R Stecon Group	50x	38.4%	฿12.0b

Price-To-Earnings vs Peers: STECON-R is expensive based on its Price-To-Earnings Ratio (50x) compared to the peer average (16.3x).

Price to Earnings Ratio vs Industry

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

1 Company	Price / Earnings	Estimated Growth	Market Cap
QTCG QTCG	2.2x	n/a	US$6.07m

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: STECON-R is expensive based on its Price-To-Earnings Ratio (50x) compared to the TH Construction industry average (12x).

Price to Earnings Ratio vs Fair Ratio

What is STECON-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.

STECON-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	50x
Fair PE Ratio	30.3x

Price-To-Earnings vs Fair Ratio: STECON-R is expensive based on its Price-To-Earnings Ratio (50x) compared to the estimated Fair Price-To-Earnings Ratio (30.3x).

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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