Thitikorn Valuation

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

Below Fair Value: TK-R (THB4.68) is trading above our estimate of fair value (THB4)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for TK-R. This is calculated by dividing TK-R's market cap by their current revenue.
What is TK-R's PS Ratio?
PS Ratio	3x
Sales	฿777.54m
Market Cap	฿2.34b

TK-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	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TK-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	3.1x
S11 S 11 Group	4.1x	n/a	฿1.6b
CHASE Chase Asia	2.9x	n/a	฿2.3b
NCAP Next Capital	2.6x	n/a	฿2.4b
ECL Eastern Commercial Leasing	2.9x	n/a	฿1.1b
TK-R Thitikorn	3x	n/a	฿2.3b

Price-To-Sales vs Peers: TK-R is good value based on its Price-To-Sales Ratio (3x) compared to the peer average (3.1x).

Price to Sales Ratio vs Industry

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

1 Company	Price / Sales	Estimated Growth	Market Cap
MIDA Mida Assets	0.4x	n/a	US$28.99m

No more companies available in this PS range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: TK-R is expensive based on its Price-To-Sales Ratio (3x) compared to the TH Consumer Finance industry average (2.9x).

Price to Sales Ratio vs Fair Ratio

What is TK-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.

TK-R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	3x
Fair PS Ratio	n/a

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

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