SC Asset Corporation Valuation

Q: What is the Fair Price of SC-R when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

SC-R (THB2.9) is trading below our estimate of [[fair value]] (THB13.19)

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: SC-R (THB2.9) is trading below our estimate of fair value (THB13.19)

Significantly Below Fair Value: SC-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 SC-R?

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

The above table shows the Price to Earnings ratio for SC-R. This is calculated by dividing SC-R's market cap by their current earnings.
What is SC-R's PE Ratio?
PE Ratio	6x
Earnings	฿2.07b
Market Cap	฿12.40b

SC-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	2x
Enterprise Value/EBITDA	17.2x
PEG Ratio	0.8x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SC-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	14.9x
SA Siamese Asset	24x	n/a	฿8.9b
ORI Origin Property	6.3x	6.3%	฿10.3b
QH Quality Houses	8.4x	9.3%	฿19.3b
PSH Pruksa Holding	20.7x	28.4%	฿18.2b
SC-R SC Asset Corporation	6x	7.8%	฿12.4b

Price-To-Earnings vs Peers: SC-R is good value based on its Price-To-Earnings Ratio (6x) compared to the peer average (14.9x).

Price to Earnings Ratio vs Industry

How does SC-R'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: SC-R is good value based on its Price-To-Earnings Ratio (6x) compared to the TH Real Estate industry average (15.1x).

Price to Earnings Ratio vs Fair Ratio

What is SC-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.

SC-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6x
Fair PE Ratio	7.7x

Price-To-Earnings vs Fair Ratio: SC-R is good value based on its Price-To-Earnings Ratio (6x) compared to the estimated Fair Price-To-Earnings Ratio (7.7x).

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.

฿1.80

-0.6%

-18.2%

Origin Property

฿10.3b

Engages in property development in Thailand.

ORI-R

฿4.20

1.0%

-52.0%