Frasers Property (Thailand) Valuation

Is FPT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: FPT (THB11.8) is trading above our estimate of fair value (THB7.24)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for FPT. This is calculated by dividing FPT's market cap by their current earnings.
What is FPT's PE Ratio?
PE Ratio	19x
Earnings	฿1.44b
Market Cap	฿25.98b

FPT 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	5.5x
Enterprise Value/EBITDA	24.2x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for FPT 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	6.7x
AP AP (Thailand)	5.6x	6.9%	฿28.5b
SPALI Supalai	6.1x	2.0%	฿38.1b
SIRI Sansiri	6.4x	2.6%	฿31.6b
QH Quality Houses	8.7x	9.3%	฿19.6b
FPT Frasers Property (Thailand)	19x	n/a	฿26.0b

Price-To-Earnings vs Peers: FPT is expensive based on its Price-To-Earnings Ratio (19x) compared to the peer average (6.7x).

Price to Earnings Ratio vs Industry

How does FPT's PE Ratio compare vs other companies in the TH Real Estate Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap
WORLD World Corporation	1.8x	n/a	US$4.34m

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: FPT is expensive based on its Price-To-Earnings Ratio (19x) compared to the TH Real Estate industry average (14.6x).

Price to Earnings Ratio vs Fair Ratio

What is FPT'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.

FPT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	19x
Fair PE Ratio	n/a

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

Analyst Forecast: Insufficient data to show price forecast.