Pruksa Holding Public Company Limited

SET:PSH Stock Report

Market Cap: ฿18.4b

Pruksa Holding Valuation

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

Below Fair Value: PSH (THB8.4) is trading above our estimate of fair value (THB8.22)

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


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PSH. This is calculated by dividing PSH's market cap by their current earnings.
What is PSH's PE Ratio?
PE Ratio21x
Earnings฿875.91m
Market Cap฿18.38b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PSH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.2x
QH Quality Houses
8.5x9.3%฿19.4b
AP AP (Thailand)
5.4x7.2%฿27.4b
FPT Frasers Property (Thailand)
20.6xn/a฿29.7b
ORI Origin Property
6.3x11.0%฿10.4b
PSH Pruksa Holding
21x28.4%฿18.4b

Price-To-Earnings vs Peers: PSH is expensive based on its Price-To-Earnings Ratio (21x) compared to the peer average (10.2x).


Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
WORLD World Corporation
1.8xn/aUS$4.34m
No more companies available in this PE range
PSH 21.0xIndustry Avg. 15.0xNo. of Companies7PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PSH is expensive based on its Price-To-Earnings Ratio (21x) compared to the TH Real Estate industry average (15x).


Price to Earnings Ratio vs Fair Ratio

What is PSH'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.

PSH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21x
Fair PE Ratio11.6x

Price-To-Earnings vs Fair Ratio: PSH is expensive based on its Price-To-Earnings Ratio (21x) compared to the estimated Fair Price-To-Earnings Ratio (11.6x).


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 PSH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿8.40
฿8.39
-0.2%
11.9%฿9.50฿6.60n/a7
Nov ’25฿8.75
฿8.71
-0.5%
20.7%฿12.50฿6.60n/a7
Oct ’25฿9.05
฿8.32
-8.1%
23.7%฿12.50฿5.60n/a8
Sep ’25฿9.00
฿8.12
-9.8%
18.2%฿10.00฿5.60n/a8
Aug ’25฿9.10
฿8.58
-5.8%
15.2%฿10.00฿5.60n/a8
Jul ’25฿9.15
฿8.86
-3.1%
16.6%฿10.90฿5.60n/a8
Jun ’25฿10.00
฿8.86
-11.4%
16.6%฿10.90฿5.60n/a8
May ’25฿11.60
฿9.37
-19.3%
11.3%฿10.90฿7.20n/a7
Apr ’25฿11.80
฿9.37
-20.6%
11.3%฿10.90฿7.20n/a7
Mar ’25฿11.80
฿9.65
-18.2%
12.2%฿11.00฿7.20n/a7
Feb ’25฿12.10
฿10.04
-17.0%
14.7%฿12.60฿7.50n/a7
Jan ’25฿12.10
฿10.04
-17.0%
14.7%฿12.60฿7.50n/a7
Dec ’24฿12.20
฿10.10
-17.2%
13.8%฿12.60฿7.50n/a8
Nov ’24฿12.40
฿11.09
-10.6%
9.3%฿12.60฿9.50฿8.758
Oct ’24฿12.80
฿11.04
-13.8%
9.1%฿12.60฿9.50฿9.0510
Sep ’24฿13.30
฿11.12
-16.4%
10.3%฿13.40฿9.50฿9.0010
Aug ’24฿13.20
฿11.03
-16.4%
13.6%฿13.40฿8.00฿9.1010
Jul ’24฿12.60
฿11.03
-12.5%
13.6%฿13.40฿8.00฿9.1510
Jun ’24฿12.40
฿11.10
-10.5%
13.0%฿13.40฿8.00฿10.0010
May ’24฿12.40
฿11.07
-10.7%
13.0%฿13.40฿8.00฿11.6010
Apr ’24฿12.50
฿11.07
-11.4%
13.0%฿13.40฿8.00฿11.8010
Mar ’24฿13.60
฿11.29
-17.0%
8.8%฿13.40฿10.00฿11.8011
Feb ’24฿13.20
฿11.24
-14.8%
9.3%฿13.40฿10.20฿12.1010
Jan ’24฿13.20
฿11.20
-15.2%
9.7%฿13.40฿10.20฿12.109
Dec ’23฿12.30
฿11.79
-4.1%
12.5%฿15.00฿10.20฿12.2010
Nov ’23฿12.10
฿12.78
+5.6%
14.6%฿15.20฿10.20฿12.4010

Analyst Forecast: Target price is lower than the current share price.


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