Trinity Watthana Valuation

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

TNITY (THB4.4) is trading above our estimate of [[fair value]] (THB2.48)

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

Below Fair Value: TNITY (THB4.4) is trading above our estimate of fair value (THB2.48)

Significantly Below Fair Value: TNITY is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for TNITY. This is calculated by dividing TNITY's market cap by their current revenue.
What is TNITY's PS Ratio?
PS Ratio	2.3x
Sales	฿401.98m
Market Cap	฿943.38m

TNITY 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 TNITY's PS Ratio compare to its peers?

The above table shows the PS ratio for TNITY 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	2x
UOBKH UOB Kay Hian Securities (Thailand)	2.5x	n/a	฿2.5b
FSX Finansia X	1.4x	n/a	฿2.0b
CGH Country Group Holdings	1.6x	n/a	฿2.8b
ASP Asia Plus Group Holdings	2.4x	n/a	฿5.1b
TNITY Trinity Watthana	2.3x	n/a	฿943.4m

Price-To-Sales vs Peers: TNITY is expensive based on its Price-To-Sales Ratio (2.3x) compared to the peer average (2x).

Price to Sales Ratio vs Industry

How does TNITY's PS Ratio compare vs other companies in the Asian Capital Markets Industry?

100 Companies	Price / Sales	Estimated Growth	Market Cap

100 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: TNITY is good value based on its Price-To-Sales Ratio (2.3x) compared to the Asian Capital Markets industry average (4.4x).

Price to Sales Ratio vs Fair Ratio

What is TNITY'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.

TNITY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.3x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate TNITY'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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