Pan Asia Footwear Public Company Limited

SET:PAF Stock Report

Market Cap: ฿536.4m

Pan Asia Footwear Valuation

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

Below Fair Value: PAF (THB1) is trading above our estimate of fair value (THB0.11)

Significantly Below Fair Value: PAF is trading above our estimate of fair value.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for PAF?

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

The above table shows the Price to Sales ratio for PAF. This is calculated by dividing PAF's market cap by their current revenue.
What is PAF's PS Ratio?
PS Ratio0.2x
Sales฿2.81b
Market Cap฿536.40m

Price to Sales Ratio vs Peers

How does PAF's PS Ratio compare to its peers?

The above table shows the PS ratio for PAF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1x
RSP Rich Sport
1xn/a฿1.4b
MTW Make To Win Holding
2.2x66.9%฿781.8m
CPL CPL Group
0.3xn/a฿580.6m
CWT Chai Watana Tannery Group
0.4xn/a฿674.2m
PAF Pan Asia Footwear
0.2xn/a฿536.4m

Price-To-Sales vs Peers: PAF is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (1x).


Price to Sales Ratio vs Industry

How does PAF's PS Ratio compare vs other companies in the TH Luxury Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
Industry Avg.0.8x11.6%
PAF Pan Asia Footwear
0.2xn/aUS$15.56m
No more companies available in this PS range
PAF 0.2xIndustry Avg. 0.8xNo. of Companies5PS00.81.62.43.24+
1 CompanyEstimated GrowthMarket Cap
Industry Avg.0.8x18.3%
PAF Pan Asia Footwear
0.2xn/aUS$15.56m
No more companies

Price-To-Sales vs Industry: PAF is good value based on its Price-To-Sales Ratio (0.2x) compared to the TH Luxury industry average (0.8x).


Price to Sales Ratio vs Fair Ratio

What is PAF'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.

PAF PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ration/a

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