S Hotels and Resorts Valuation

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

SHR-F (THB2.96) is trading below our estimate of [[fair value]] (THB5.07)

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: SHR-F (THB2.96) is trading below our estimate of fair value (THB5.07)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SHR-F?

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

The above table shows the Price to Earnings ratio for SHR-F. This is calculated by dividing SHR-F's market cap by their current earnings.
What is SHR-F's PE Ratio?
PE Ratio	28.9x
Earnings	฿323.01m
Market Cap	฿9.42b

SHR-F 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	2.6x
Enterprise Value/EBITDA	12.3x
PEG Ratio	0.7x

Price to Earnings Ratio vs Peers

How does SHR-F's PE Ratio compare to its peers?

The above table shows the PE ratio for SHR-F 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	18x
SHANG Shangri-La Hotel	32x	n/a	฿6.5b
LRH Laguna Resorts & Hotels	7.1x	n/a	฿6.5b
OHTL OHTL	14.9x	n/a	฿5.3b
ERW Erawan Group	18x	-6.1%	฿20.1b
SHR-F S Hotels and Resorts	28.9x	39.7%	฿9.4b

Price-To-Earnings vs Peers: SHR-F is good value based on its Price-To-Earnings Ratio (28.9x) compared to the peer average (29x).

Price to Earnings Ratio vs Industry

How does SHR-F's PE Ratio compare vs other companies in the Asian Hospitality Industry?

22 Companies	Price / Earnings	Estimated Growth	Market Cap

22 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: SHR-F is expensive based on its Price-To-Earnings Ratio (28.9x) compared to the Asian Hospitality industry average (23.1x).

Price to Earnings Ratio vs Fair Ratio

What is SHR-F'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.

SHR-F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	28.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SHR-F's Price-To-Earnings 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.