Sub Sri Thai Valuation

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

SST-R (THB4.24) is trading above our estimate of [[fair value]] (THB2.26)

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

Below Fair Value: SST-R (THB4.24) is trading above our estimate of fair value (THB2.26)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for SST-R. This is calculated by dividing SST-R's market cap by their current revenue.
What is SST-R's PS Ratio?
PS Ratio	0.6x
Sales	฿3.66b
Market Cap	฿2.23b

SST-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	1.8x
Enterprise Value/EBITDA	-22.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for SST-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	0.7x
TC Tropical Canning (Thailand)	0.4x	n/a	฿2.3b
TACC T.A.C. Consumer	1.5x	9.1%	฿2.8b
NRF NR Instant Produce	0.5x	n/a	฿2.1b
TWPC Thai Wah	0.3x	n/a	฿2.6b
SST-R Sub Sri Thai	0.6x	n/a	฿2.2b

Price-To-Sales vs Peers: SST-R is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

How does SST-R's PS Ratio compare vs other companies in the TH Food Industry?

2 Companies	Price / Sales	Estimated Growth	Market Cap
CFRESH Seafresh Industry	0.2x	n/a	US$32.85m
POMPUI Kuang Pei San Food Products	0.1x	n/a	US$4.05m

No more companies available in this PS range

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: SST-R is good value based on its Price-To-Sales Ratio (0.6x) compared to the TH Food industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is SST-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.

SST-R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.6x
Fair PS Ratio	n/a

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

Discover undervalued companies

Taokaenoi Food & Marketing

฿11.3b

Engages in the manufacture and distribution of fried, grilled, and baked seaweed and seaweed snacks.

TKN

฿8.20

-10.4%

-12.8%

Ichitan Group

฿18.9b

Together with its subsidiary Ichitan Power Co., Ltd., engages in the manufacture and sale of beverages in Thailand and internationally.

ICHI

฿14.50

-5.2%

-2.0%

Asian Alliance International

฿11.6b

Produces and sells pet food and ready-to-eat human food products in Thailand, the United States, the United Kingdom, Thailand, the Kingdom of Saudi Arabia, Japan, Italy, and internationally.

AAI

฿5.45

-3.5%

42.7%