Mega Lifesciences Valuation

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

Below Fair Value: MEGA (THB35.25) is trading below our estimate of fair value (THB65.1)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MEGA. This is calculated by dividing MEGA's market cap by their current earnings.
What is MEGA's PE Ratio?
PE Ratio	16.6x
Earnings	฿1.85b
Market Cap	฿30.73b

MEGA 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	1.8x
Enterprise Value/EBITDA	7.8x
PEG Ratio	1.1x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MEGA 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	20.9x
TMAN T.Man Pharmaceutical	14.4x	17.4%	฿6.2b
BLC Bangkok Lab And Cosmetic	19.2x	n/a	฿3.2b
JSP JSP Pharmaceutical Manufacturing (Thailand) Public	21x	n/a	฿1.1b
002349 Jinghua Pharmaceutical Group	29.1x	n/a	CN¥6.3b
MEGA Mega Lifesciences	16.6x	14.7%	฿30.7b

Price-To-Earnings vs Peers: MEGA is good value based on its Price-To-Earnings Ratio (16.6x) compared to the peer average (20.9x).

Price to Earnings Ratio vs Industry

How does MEGA's PE Ratio compare vs other companies in the Asian Pharmaceuticals Industry?

12 Companies	Price / Earnings	Estimated Growth	Market Cap

12 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: MEGA is good value based on its Price-To-Earnings Ratio (16.6x) compared to the Asian Pharmaceuticals industry average (24.1x).

Price to Earnings Ratio vs Fair Ratio

What is MEGA'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.

MEGA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	16.6x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MEGA'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?

The above table shows the analyst MEGA forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	฿35.25	฿45.69 +29.6%	16.7%	฿57.00	฿37.00	n/a	8
Nov ’25	฿39.00	฿46.50 +19.2%	15.6%	฿57.00	฿37.00	n/a	8
Oct ’25	฿39.75	฿47.38 +19.2%	16.0%	฿57.00	฿37.00	n/a	8
Sep ’25	฿37.75	฿47.71 +26.4%	16.8%	฿57.00	฿37.00	n/a	7
Aug ’25	฿36.75	฿48.14 +31.0%	16.6%	฿57.00	฿35.00	n/a	7
Jul ’25	฿38.00	฿48.88 +28.6%	15.8%	฿57.00	฿35.00	n/a	8
Jun ’25	฿40.00	฿49.31 +23.3%	16.2%	฿57.00	฿35.00	n/a	8
May ’25	฿41.00	฿50.21 +22.5%	16.9%	฿57.00	฿35.00	n/a	7
Apr ’25	฿43.00	฿50.06 +16.4%	15.8%	฿57.00	฿35.00	n/a	8
Mar ’25	฿41.50	฿50.06 +20.6%	15.8%	฿57.00	฿35.00	n/a	8
Feb ’25	฿42.25	฿51.19 +21.2%	10.8%	฿56.00	฿39.00	n/a	8
Jan ’25	฿40.25	฿51.19 +27.2%	10.8%	฿56.00	฿39.00	n/a	8
Dec ’24	฿39.00	฿51.19 +31.3%	10.8%	฿56.00	฿39.00	n/a	8
Nov ’24	฿40.50	฿52.44 +29.5%	13.1%	฿65.00	฿40.00	฿39.00	8
Oct ’24	฿44.50	฿52.44 +17.8%	13.1%	฿65.00	฿40.00	฿39.75	8
Sep ’24	฿43.25	฿51.50 +19.1%	14.2%	฿65.00	฿40.00	฿37.75	7
Aug ’24	฿38.75	฿52.04 +34.3%	14.8%	฿65.00	฿40.00	฿36.75	7
Jul ’24	฿37.50	฿52.61 +40.3%	14.2%	฿65.00	฿40.00	฿38.00	7
Jun ’24	฿40.25	฿53.64 +33.3%	14.0%	฿65.00	฿40.00	฿40.00	8
May ’24	฿41.00	฿55.55 +35.5%	13.1%	฿65.00	฿40.00	฿41.00	8
Apr ’24	฿41.75	฿55.10 +32.0%	12.7%	฿65.00	฿40.00	฿43.00	9
Mar ’24	฿46.25	฿55.63 +20.3%	9.7%	฿65.00	฿47.00	฿41.50	9
Feb ’24	฿51.75	฿56.13 +8.5%	8.5%	฿66.50	฿49.00	฿42.25	8
Jan ’24	฿46.75	฿55.50 +18.7%	9.2%	฿66.50	฿49.00	฿40.25	8
Dec ’23	฿46.25	฿55.44 +19.9%	8.9%	฿66.00	฿49.00	฿39.00	8
Nov ’23	฿45.25	฿55.69 +23.1%	8.8%	฿66.00	฿48.00	฿40.50	8

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.