Thanapiriya Valuation

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

TNP (THB3.58) is trading below our estimate of [[fair value]] (THB20.72)

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: TNP (THB3.58) is trading below our estimate of fair value (THB20.72)

Significantly Below Fair Value: TNP is trading below fair value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TNP. This is calculated by dividing TNP's market cap by their current earnings.
What is TNP's PE Ratio?
PE Ratio	15.7x
Earnings	฿182.38m
Market Cap	฿2.86b

TNP 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	1x
Enterprise Value/EBITDA	10.5x
PEG Ratio	2.3x

Price to Earnings Ratio vs Peers

How does TNP's PE Ratio compare to its peers?

The above table shows the PE ratio for TNP 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	21.6x
SVT Sun Vending Technology	15.5x	n/a	฿1.1b
KK K&K Superstore Southern	31.2x	n/a	฿294.6m
HL Healthlead	31.2x	n/a	฿2.4b
PM Premier Marketing	8.7x	n/a	฿5.2b
TNP Thanapiriya	15.7x	7.0%	฿2.9b

Price-To-Earnings vs Peers: TNP is good value based on its Price-To-Earnings Ratio (15.7x) compared to the peer average (21.6x).

Price to Earnings Ratio vs Industry

How does TNP's PE Ratio compare vs other companies in the Asian Consumer Retailing Industry?

7 Companies	Price / Earnings	Estimated Growth	Market Cap

7 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: TNP is good value based on its Price-To-Earnings Ratio (15.7x) compared to the Asian Consumer Retailing industry average (15.9x).

Price to Earnings Ratio vs Fair Ratio

What is TNP'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.

TNP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	15.7x
Fair PE Ratio	11.8x

Price-To-Earnings vs Fair Ratio: TNP is expensive based on its Price-To-Earnings Ratio (15.7x) compared to the estimated Fair Price-To-Earnings Ratio (11.8x).

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.