TCM Corporation Valuation

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

TCMC-R (THB0.74) is trading above our estimate of [[fair value]] (THB0.64)

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

Below Fair Value: TCMC-R (THB0.74) is trading above our estimate of fair value (THB0.64)

Significantly Below Fair Value: TCMC-R is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TCMC-R?

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

The above table shows the Price to Sales ratio for TCMC-R. This is calculated by dividing TCMC-R's market cap by their current revenue.
What is TCMC-R's PS Ratio?
PS Ratio	0.09x
Sales	฿6.62b
Market Cap	฿564.77m

TCMC-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	0.6x
Enterprise Value/EBITDA	16x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TCMC-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	1.2x
ECF East Coast Furnitech	0.3x	n/a	฿393.4m
MODERN Modernform Group	0.7x	n/a	฿1.7b
FANCY Fancy Wood Industries	2.2x	n/a	฿221.4m
BKD Bangkok Dec-Con	1.4x	n/a	฿1.5b
TCMC-R TCM Corporation	0.09x	n/a	฿564.8m

Price-To-Sales vs Peers: TCMC-R is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

How does TCMC-R's PS Ratio compare vs other companies in the Asian Consumer Durables Industry?

54 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	1.1x	6.1%
TCMC-R TCM Corporation	0.09x	n/a	US$16.36m

54 Companies		Estimated Growth	Market Cap
Industry Avg.	1.1x	13.2%
TCMC-R TCM Corporation	0.09x	n/a	US$16.36m

No more companies

Price-To-Sales vs Industry: TCMC-R is good value based on its Price-To-Sales Ratio (0.1x) compared to the Asian Consumer Durables industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is TCMC-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.

TCMC-R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.09x
Fair PS Ratio	n/a

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