Country Group Development Valuation

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

Below Fair Value: CGD-R (THB0.33) is trading below our estimate of fair value (THB9)

Significantly Below Fair Value: CGD-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 CGD-R?

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

The above table shows the Price to Sales ratio for CGD-R. This is calculated by dividing CGD-R's market cap by their current revenue.
What is CGD-R's PS Ratio?
PS Ratio	0.8x
Sales	฿3.29b
Market Cap	฿2.73b

CGD-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	0.8x
Enterprise Value/EBITDA	3.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for CGD-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	1.2x
PRIN Prinsiri	1.4x	n/a	฿2.6b
NUSA Nusasiri	2x	n/a	฿2.6b
SENA Sena Development	1x	n/a	฿3.3b
ANAN Ananda Development	0.4x	19.6%	฿2.7b
CGD-R Country Group Development	0.8x	n/a	฿2.7b

Price-To-Sales vs Peers: CGD-R is good value based on its Price-To-Sales Ratio (0.8x) compared to the peer average (1.2x).

Price to Sales Ratio vs Industry

How does CGD-R's PS Ratio compare vs other companies in the TH Real Estate Industry?

5 Companies	Price / Sales	Estimated Growth	Market Cap
UV Univentures	0.2x	n/a	US$87.61m
PF Property Perfect	0.2x	n/a	US$52.26m
CI Charn Issara Development	0.2x	n/a	US$15.16m
CHEWA Chewathai	0.2x	n/a	US$13.68m

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: CGD-R is good value based on its Price-To-Sales Ratio (0.8x) compared to the TH Real Estate industry average (1.3x).

Price to Sales Ratio vs Fair Ratio

What is CGD-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.

CGD-R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.8x
Fair PS Ratio	n/a

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

Discover undervalued companies

Pinthong Industrial Park

฿7.1b

Engages in the development and rental of real estate projects in Thailand.

PIN-R

฿6.15

-2.4%

29.7%

Quality Houses

฿19.3b

Engages in the property development business in Thailand.

QH-R

฿1.80

-0.6%

-18.2%