Siam City Cement Valuation

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

Below Fair Value: SCCC-R (THB162) is trading below our estimate of fair value (THB228.38)

Significantly Below Fair Value: SCCC-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 SCCC-R?

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

The above table shows the Price to Earnings ratio for SCCC-R. This is calculated by dividing SCCC-R's market cap by their current earnings.
What is SCCC-R's PE Ratio?
PE Ratio	13.2x
Earnings	฿3.65b
Market Cap	฿48.28b

SCCC-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	1.6x
Enterprise Value/EBITDA	8.8x
PEG Ratio	1.8x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SCCC-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	24.6x
TASCO Tipco Asphalt	27.5x	26.0%	฿29.5b
TPIPL TPI Polene	18.9x	n/a	฿21.2b
SCC Siam Cement	40.3x	55.3%	฿230.4b
DRT Diamond Building Products	11.7x	n/a	฿6.6b
SCCC-R Siam City Cement	13.2x	7.5%	฿48.3b

Price-To-Earnings vs Peers: SCCC-R is good value based on its Price-To-Earnings Ratio (13.2x) compared to the peer average (24.6x).

Price to Earnings Ratio vs Industry

How does SCCC-R's PE Ratio compare vs other companies in the Asian Basic Materials Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: SCCC-R is good value based on its Price-To-Earnings Ratio (13.2x) compared to the Asian Basic Materials industry average (17.3x).

Price to Earnings Ratio vs Fair Ratio

What is SCCC-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.

SCCC-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	13.2x
Fair PE Ratio	12.4x

Price-To-Earnings vs Fair Ratio: SCCC-R is expensive based on its Price-To-Earnings Ratio (13.2x) compared to the estimated Fair Price-To-Earnings Ratio (12.4x).

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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