Haad Thip Valuation

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

HTC-R (THB16.4) is trading above our estimate of [[fair value]] (THB10.34)

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: HTC-R (THB16.4) is trading above our estimate of fair value (THB10.34)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HTC-R. This is calculated by dividing HTC-R's market cap by their current earnings.
What is HTC-R's PE Ratio?
PE Ratio	11.2x
Earnings	฿588.39m
Market Cap	฿6.59b

HTC-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	1.1x
Enterprise Value/EBITDA	7.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HTC-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	32.3x
SSC Sermsuk	41.4x	n/a	฿16.8b
OSP Osotspa	42.7x	29.2%	฿64.0b
CBG Carabao Group	29.5x	10.0%	฿79.0b
PRG PRG Corporation	15.3x	n/a	฿6.4b
HTC-R Haad Thip	11.2x	n/a	฿6.6b

Price-To-Earnings vs Peers: HTC-R is good value based on its Price-To-Earnings Ratio (11.2x) compared to the peer average (32.1x).

Price to Earnings Ratio vs Industry

How does HTC-R's PE Ratio compare vs other companies in the Asian Beverage Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: HTC-R is good value based on its Price-To-Earnings Ratio (11.2x) compared to the Asian Beverage industry average (18.8x).

Price to Earnings Ratio vs Fair Ratio

What is HTC-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.

HTC-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	11.2x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HTC-R'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.

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