Royal Plus Valuation

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

PLUS-R (THB5.5) is trading below our estimate of [[fair value]] (THB13.65)

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

Below Fair Value: PLUS-R (THB5.5) is trading below our estimate of fair value (THB13.65)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PLUS-R. This is calculated by dividing PLUS-R's market cap by their current earnings.
What is PLUS-R's PE Ratio?
PE Ratio	30.1x
Earnings	฿122.33m
Market Cap	฿3.69b

PLUS-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	2.3x
Enterprise Value/EBITDA	13.3x
PEG Ratio	0.7x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PLUS-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	7.2x
FM Food Moments	7.4x	9.2%	฿3.9b
BRR Buriram Sugar	3.1x	n/a	฿3.8b
LST Lam Soon (Thailand)	8x	n/a	฿4.1b
TFM Thai Union Feedmill	10.1x	n/a	฿4.0b
PLUS-R Royal Plus	30.1x	46.0%	฿3.7b

Price-To-Earnings vs Peers: PLUS-R is expensive based on its Price-To-Earnings Ratio (30.1x) compared to the peer average (7.2x).

Price to Earnings Ratio vs Industry

How does PLUS-R's PE Ratio compare vs other companies in the TH Food 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: PLUS-R is expensive based on its Price-To-Earnings Ratio (30.1x) compared to the TH Food industry average (13.7x).

Price to Earnings Ratio vs Fair Ratio

What is PLUS-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.

PLUS-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	30.1x
Fair PE Ratio	28.4x

Price-To-Earnings vs Fair Ratio: PLUS-R is expensive based on its Price-To-Earnings Ratio (30.1x) compared to the estimated Fair Price-To-Earnings Ratio (28.4x).

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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