Sawang Export Valuation

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

SAWANG-R (THB12.1) is trading below our estimate of [[fair value]] (THB32.11)

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

Below Fair Value: SAWANG-R (THB12.1) is trading below our estimate of fair value (THB32.11)

Significantly Below Fair Value: SAWANG-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 SAWANG-R?

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

The above table shows the Price to Sales ratio for SAWANG-R. This is calculated by dividing SAWANG-R's market cap by their current revenue.
What is SAWANG-R's PS Ratio?
PS Ratio	2.8x
Sales	฿102.04m
Market Cap	฿290.40m

SAWANG-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	2.8x
Enterprise Value/EBITDA	-19.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for SAWANG-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	1x
NPK New Plus Knitting	0.6x	n/a	฿130.0m
CPH Castle Peak Holdings	0.3x	n/a	฿416.0m
PG People's Garment	1.1x	n/a	฿859.2m
MTW Make To Win Holding	2.2x	66.9%	฿781.8m
SAWANG-R Sawang Export	2.8x	n/a	฿290.4m

Price-To-Sales vs Peers: SAWANG-R is expensive based on its Price-To-Sales Ratio (2.8x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

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

1 Company	Price / Sales	Estimated Growth	Market Cap
PAF Pan Asia Footwear	0.2x	n/a	US$15.53m

No more companies available in this PS range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: SAWANG-R is expensive based on its Price-To-Sales Ratio (2.8x) compared to the TH Luxury industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is SAWANG-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.

SAWANG-R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.8x
Fair PS Ratio	n/a

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