Thai Union Group Valuation

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

TU-R (THB13.8) is trading below our estimate of [[fair value]] (THB21.1)

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: TU-R (THB13.8) is trading below our estimate of fair value (THB21.1)

Significantly Below Fair Value: TU-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 TU-R?

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

The above table shows the Price to Earnings ratio for TU-R. This is calculated by dividing TU-R's market cap by their current earnings.
What is TU-R's PE Ratio?
PE Ratio	11.2x
Earnings	฿5.25b
Market Cap	฿58.72b

TU-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	0.8x
Enterprise Value/EBITDA	10.4x
PEG Ratio	1.1x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TU-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	15.6x
TFMAMA Thai President Foods	15.4x	n/a	฿65.8b
ITC i-Tail Corporation	17.8x	12.9%	฿63.6b
PB President Bakery	16x	n/a	฿27.0b
TVO Thai Vegetable Oil	13x	6.6%	฿21.0b
TU-R Thai Union Group	11.2x	9.8%	฿58.7b

Price-To-Earnings vs Peers: TU-R is good value based on its Price-To-Earnings Ratio (11.2x) compared to the peer average (15.6x).

Price to Earnings Ratio vs Industry

How does TU-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: TU-R is good value based on its Price-To-Earnings Ratio (11.2x) compared to the TH Food industry average (13.7x).

Price to Earnings Ratio vs Fair Ratio

What is TU-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.

TU-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	11.2x
Fair PE Ratio	17.6x

Price-To-Earnings vs Fair Ratio: TU-R is good value based on its Price-To-Earnings Ratio (11.2x) 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?

Analyst Forecast: Insufficient data to show price forecast.

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