Sappe Public Company Limited

SET:SAPPE Stock Report

Market Cap: ฿24.3b

Sappe Valuation

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

Below Fair Value: SAPPE (THB78.75) is trading below our estimate of fair value (THB117.06)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SAPPE. This is calculated by dividing SAPPE's market cap by their current earnings.
What is SAPPE's PE Ratio?
PE Ratio19.7x
Earnings฿1.23b
Market Cap฿24.26b

Price to Earnings Ratio vs Peers

How does SAPPE's PE Ratio compare to its peers?

The above table shows the PE ratio for SAPPE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.9x
ICHI Ichitan Group
14.3x7.2%฿19.9b
COCOCO Thai Coconut
20.4x21.6%฿16.2b
TVO Thai Vegetable Oil
13x6.3%฿21.0b
PB President Bakery
15.9xn/a฿26.9b
SAPPE Sappe
19.7x12.8%฿24.3b

Price-To-Earnings vs Peers: SAPPE is expensive based on its Price-To-Earnings Ratio (19.7x) compared to the peer average (15.9x).

Price to Earnings Ratio vs Industry

How does SAPPE's PE Ratio compare vs other companies in the TH Food Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
SAPPE 19.7xIndustry Avg. 13.8xNo. of Companies8PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SAPPE is expensive based on its Price-To-Earnings Ratio (19.7x) compared to the TH Food industry average (13.8x).

Price to Earnings Ratio vs Fair Ratio

What is SAPPE'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.

SAPPE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.7x
Fair PE Ratio17.6x

Price-To-Earnings vs Fair Ratio: SAPPE is expensive based on its Price-To-Earnings Ratio (19.7x) compared to the estimated Fair Price-To-Earnings Ratio (17.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SAPPE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿78.75
฿91.82
+16.6%
11.7%฿111.50฿79.00n/a7
Nov ’25฿69.00
฿93.96
+36.2%
10.7%฿111.50฿80.00n/a6
Oct ’25฿72.00
฿93.38
+29.7%
3.6%฿100.00฿89.00n/a6
Sep ’25฿70.50
฿93.38
+32.4%
3.6%฿100.00฿89.00n/a6
Aug ’25฿91.75
฿113.55
+23.8%
10.4%฿125.00฿89.00n/a6
Jul ’25฿100.00
฿113.55
+13.5%
10.4%฿125.00฿89.00n/a6
Jun ’25฿104.00
฿110.22
+6.0%
9.9%฿125.00฿89.00n/a6
May ’25฿97.50
฿102.29
+4.9%
10.4%฿115.00฿86.75n/a6
Apr ’25฿89.50
฿102.29
+14.3%
10.4%฿115.00฿86.75n/a6
Mar ’25฿89.75
฿99.55
+10.9%
12.5%฿115.00฿83.00n/a5
Feb ’25฿86.50
฿99.55
+15.1%
12.5%฿115.00฿83.00n/a5
Jan ’25฿86.50
฿101.95
+17.9%
14.0%฿117.00฿83.00n/a5
Dec ’24฿72.25
฿98.89
+36.9%
17.5%฿117.00฿68.57n/a6
Nov ’24฿75.00
฿100.91
+34.5%
17.1%฿119.40฿68.57฿69.006
Oct ’24฿81.50
฿100.12
+22.8%
16.6%฿119.40฿68.57฿72.006
Sep ’24฿91.00
฿100.12
+10.0%
16.6%฿119.40฿68.57฿70.506
Aug ’24฿88.00
฿92.97
+5.6%
13.6%฿110.00฿68.57฿91.756
Jul ’24฿81.25
฿91.55
+12.7%
13.8%฿110.00฿68.57฿100.006
Jun ’24฿83.75
฿81.70
-2.4%
13.5%฿97.00฿66.10฿104.007
May ’24฿62.25
฿64.67
+3.9%
5.7%฿68.00฿58.00฿97.505
Apr ’24฿56.50
฿60.12
+6.4%
6.8%฿66.10฿54.00฿89.505
Mar ’24฿52.00
฿58.13
+11.8%
4.6%฿61.00฿54.00฿89.754
Feb ’24฿46.75
฿57.19
+22.3%
5.8%฿61.00฿53.75฿86.504
Jan ’24฿44.25
฿54.50
+23.2%
8.8%฿60.00฿49.50฿86.504
Dec ’23฿38.75
฿54.13
+39.7%
9.5%฿60.00฿48.50฿72.254
Nov ’23฿41.00
฿54.44
+32.8%
9.0%฿60.00฿48.50฿75.004

Analyst Forecast: Target price is less than 20% higher than the current share price.

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