Thai Textile Industry Valuation

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

TTI-R (THB25.5) is trading above our estimate of [[fair value]] (THB8.48)

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: TTI-R (THB25.5) is trading above our estimate of fair value (THB8.48)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for TTI-R. This is calculated by dividing TTI-R's market cap by their current revenue.
What is TTI-R's PS Ratio?
PS Ratio	0.7x
Sales	฿1.87b
Market Cap	฿1.28b

TTI-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	0.9x
Enterprise Value/EBITDA	27.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TTI-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	0.5x
TPCS TPCS	1x	n/a	฿1.3b
CWT Chai Watana Tannery Group	0.4x	n/a	฿693.1m
CPL CPL Group	0.3x	n/a	฿571.8m
TTT Toray Textiles (Thailand)	0.3x	n/a	฿3.1b
TTI-R Thai Textile Industry	0.7x	n/a	฿1.3b

Price-To-Sales vs Peers: TTI-R is expensive based on its Price-To-Sales Ratio (0.7x) compared to the peer average (0.5x).

Price to Sales Ratio vs Industry

How does TTI-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$15.81m

No more companies available in this PS range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: TTI-R is good value based on its Price-To-Sales Ratio (0.7x) compared to the TH Luxury industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is TTI-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.

TTI-R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.7x
Fair PS Ratio	n/a

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