Ratchthani Leasing Valuation

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

THANI-R (THB1.75) is trading below our estimate of [[fair value]] (THB1.94)

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

Below Fair Value: THANI-R (THB1.75) is trading below our estimate of fair value (THB1.94)

Significantly Below Fair Value: THANI-R is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for THANI-R. This is calculated by dividing THANI-R's market cap by their current earnings.
What is THANI-R's PE Ratio?
PE Ratio	13x
Earnings	฿838.72m
Market Cap	฿10.90b

THANI-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	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	0.6x

Price to Earnings Ratio vs Peers

How does THANI-R's PE Ratio compare to its peers?

The above table shows the PE ratio for THANI-R 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	29.7x
SGC SG Capital	77.8x	n/a	฿8.3b
SAK Saksiam Leasing	14.5x	14.4%	฿11.8b
ASK Asia Sermkij Leasing	11.7x	29.4%	฿5.6b
BAM Bangkok Commercial Asset Management	14.7x	18.0%	฿22.6b
THANI-R Ratchthani Leasing	13x	20.9%	฿10.9b

Price-To-Earnings vs Peers: THANI-R is good value based on its Price-To-Earnings Ratio (13x) compared to the peer average (29.7x).

Price to Earnings Ratio vs Industry

How does THANI-R's PE Ratio compare vs other companies in the TH Consumer Finance Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: THANI-R is good value based on its Price-To-Earnings Ratio (13x) compared to the TH Consumer Finance industry average (16.4x).

Price to Earnings Ratio vs Fair Ratio

What is THANI-R'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.

THANI-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	13x
Fair PE Ratio	14.9x

Price-To-Earnings vs Fair Ratio: THANI-R is good value based on its Price-To-Earnings Ratio (13x) compared to the estimated Fair Price-To-Earnings Ratio (14.9x).

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.

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