General Engineering Valuation

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

GEL (THB0.09) is trading above our estimate of [[fair value]] (THB0.01)

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

Below Fair Value: GEL (THB0.09) is trading above our estimate of fair value (THB0.01)

Significantly Below Fair Value: GEL is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for GEL. This is calculated by dividing GEL's market cap by their current revenue.
What is GEL's PS Ratio?
PS Ratio	0.2x
Sales	฿4.02b
Market Cap	฿775.08m

GEL 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	1.4x
Enterprise Value/EBITDA	324.1x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does GEL's PS Ratio compare to its peers?

The above table shows the PS ratio for GEL 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
SMART Smart Concrete	1.3x	n/a	฿812.4m
YONG Yong Concrete	0.8x	n/a	฿836.4m
STECH Siam Technic Concrete	0.4x	n/a	฿804.8m
CCP Chonburi Concrete Product	0.3x	n/a	฿830.4m
GEL General Engineering	0.2x	n/a	฿775.1m

Price-To-Sales vs Peers: GEL is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does GEL's PS Ratio compare vs other companies in the Asian Basic Materials Industry?

27 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	1.2x	2.8%
GEL General Engineering	0.2x	n/a	US$22.48m

27 Companies		Estimated Growth	Market Cap
Industry Avg.	1.2x	23.3%
GEL General Engineering	0.2x	n/a	US$22.48m

No more companies

Price-To-Sales vs Industry: GEL is good value based on its Price-To-Sales Ratio (0.2x) compared to the Asian Basic Materials industry average (1.2x).

Price to Sales Ratio vs Fair Ratio

What is GEL'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.

GEL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.2x
Fair PS Ratio	n/a

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

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