Thai Vegetable Oil Valuation

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

Below Fair Value: TVO-R (THB23.3) is trading below our estimate of fair value (THB38.3)

Significantly Below Fair Value: TVO-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 TVO-R?

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

The above table shows the Price to Earnings ratio for TVO-R. This is calculated by dividing TVO-R's market cap by their current earnings.
What is TVO-R's PE Ratio?
PE Ratio	12.9x
Earnings	฿1.61b
Market Cap	฿20.72b

TVO-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	0.7x
Enterprise Value/EBITDA	10x
PEG Ratio	2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TVO-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	16x
PB President Bakery	15.9x	n/a	฿26.9b
SAUCE Thaitheparos	19x	n/a	฿14.1b
TFG Thaifoods Group	15.6x	25.7%	฿21.8b
ICHI Ichitan Group	13.7x	7.2%	฿19.1b
TVO-R Thai Vegetable Oil	12.9x	6.3%	฿20.7b

Price-To-Earnings vs Peers: TVO-R is good value based on its Price-To-Earnings Ratio (12.9x) compared to the peer average (16x).

Price to Earnings Ratio vs Industry

How does TVO-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: TVO-R is good value based on its Price-To-Earnings Ratio (12.9x) compared to the TH Food industry average (13.7x).

Price to Earnings Ratio vs Fair Ratio

What is TVO-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.

TVO-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.9x
Fair PE Ratio	15.1x

Price-To-Earnings vs Fair Ratio: TVO-R is good value based on its Price-To-Earnings Ratio (12.9x) compared to the estimated Fair Price-To-Earnings Ratio (15.1x).

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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