Pacific Pipe Valuation

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

PAP-R (THB1.77) is trading above our estimate of [[fair value]] (THB0.07)

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

Below Fair Value: PAP-R (THB1.77) is trading above our estimate of fair value (THB0.07)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for PAP-R. This is calculated by dividing PAP-R's market cap by their current revenue.
What is PAP-R's PS Ratio?
PS Ratio	0.2x
Sales	฿7.57b
Market Cap	฿1.17b

PAP-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	0.3x
Enterprise Value/EBITDA	-18.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for PAP-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	0.6x
TYCN Tycoons Worldwide Group (Thailand)	0.3x	n/a	฿1.2b
LHK Lohakit Metal	0.5x	n/a	฿1.4b
CEN Capital Engineering Network	1.2x	n/a	฿1.5b
SSSC Siam Steel Service Center	0.3x	n/a	฿1.4b
PAP-R Pacific Pipe	0.2x	n/a	฿1.2b

Price-To-Sales vs Peers: PAP-R is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (0.6x).

Price to Sales Ratio vs Industry

How does PAP-R's PS Ratio compare vs other companies in the TH Metals and Mining Industry?

2 Companies	Price / Sales	Estimated Growth	Market Cap
MILL Millcon Steel	0.09x	n/a	US$17.70m
SAM Samchai Steel Industries	0.04x	n/a	US$6.92m

No more companies available in this PS range

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: PAP-R is good value based on its Price-To-Sales Ratio (0.2x) compared to the TH Metals and Mining industry average (0.3x).

Price to Sales Ratio vs Fair Ratio

What is PAP-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.

PAP-R 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 PAP-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.

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