Thai Nippon Rubber Industry Public Valuation

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

TNR (THB8.95) is trading below our estimate of [[fair value]] (THB26.48)

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: TNR (THB8.95) is trading below our estimate of fair value (THB26.48)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TNR. This is calculated by dividing TNR's market cap by their current earnings.
What is TNR's PE Ratio?
PE Ratio	4.9x
Earnings	฿544.21m
Market Cap	฿2.69b

TNR 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	1.5x
Enterprise Value/EBITDA	5.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TNR 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	41.6x
APCO Asian Phytoceuticals	37x	n/a	฿3.0b
KISS Rojukiss International	16.7x	8.8%	฿2.9b
IP Inter Pharma	101.5x	n/a	฿2.1b
S&J S & J International Enterprises	11.2x	n/a	฿5.8b
TNR Thai Nippon Rubber Industry Public	4.9x	n/a	฿2.7b

Price-To-Earnings vs Peers: TNR is good value based on its Price-To-Earnings Ratio (4.9x) compared to the peer average (41.6x).

Price to Earnings Ratio vs Industry

How does TNR's PE Ratio compare vs other companies in the Asian Personal Products Industry?

5 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	25.1x	18.0%
TNR Thai Nippon Rubber Industry Public	4.9x	n/a	US$77.06m

5 Companies		Estimated Growth	Market Cap
Industry Avg.	25.1x	18.0%
TNR Thai Nippon Rubber Industry Public	4.9x	n/a	US$77.06m

No more companies

Price-To-Earnings vs Industry: TNR is good value based on its Price-To-Earnings Ratio (4.9x) compared to the Asian Personal Products industry average (25.1x).

Price to Earnings Ratio vs Fair Ratio

What is TNR'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.

TNR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	4.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TNR's Price-To-Earnings 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.

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