SC Asset Corporation Public Company Limited

SET:SC Stock Report

Market Cap: ฿12.1b

SC Asset Corporation Valuation

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

Below Fair Value: SC (THB2.84) is trading below our estimate of fair value (THB13.19)

Significantly Below Fair Value: SC 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?

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

The above table shows the Price to Earnings ratio for SC. This is calculated by dividing SC's market cap by their current earnings.
What is SC's PE Ratio?
PE Ratio5.9x
Earnings฿2.07b
Market Cap฿12.15b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.9x
SA Siamese Asset
24xn/a฿8.9b
ORI Origin Property
6.3x11.0%฿10.4b
QH Quality Houses
8.5x9.3%฿19.4b
PSH Pruksa Holding
21x28.4%฿18.4b
SC SC Asset Corporation
5.9x7.8%฿12.1b

Price-To-Earnings vs Peers: SC is good value based on its Price-To-Earnings Ratio (5.9x) compared to the peer average (14.9x).

Price to Earnings Ratio vs Industry

How does SC'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
SC 5.9xIndustry Avg. 15.0xNo. of Companies7PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SC is good value based on its Price-To-Earnings Ratio (5.9x) compared to the TH Real Estate industry average (15x).

Price to Earnings Ratio vs Fair Ratio

What is SC'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 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.9x
Fair PE Ratio7.7x

Price-To-Earnings vs Fair Ratio: SC is good value based on its Price-To-Earnings Ratio (5.9x) 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?

The above table shows the analyst SC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿2.84
฿3.30
+16.2%
4.1%฿3.50฿3.14n/a7
Nov ’25฿3.00
฿3.19
+6.4%
7.1%฿3.50฿2.82n/a7
Oct ’25฿3.08
฿3.18
+3.2%
7.2%฿3.50฿2.82n/a7
Sep ’25฿2.56
฿3.08
+20.2%
6.7%฿3.50฿2.82n/a7
Aug ’25฿2.52
฿3.50
+38.8%
10.0%฿4.15฿3.00n/a7
Jul ’25฿2.82
฿3.73
+32.2%
9.1%฿4.20฿3.24n/a7
Jun ’25฿3.10
฿3.73
+20.2%
9.1%฿4.20฿3.24n/a7
May ’25฿3.78
฿3.91
+3.5%
7.7%฿4.38฿3.50n/a6
Apr ’25฿3.78
฿4.01
+6.2%
8.6%฿4.40฿3.50n/a6
Mar ’25฿3.38
฿4.04
+19.6%
9.3%฿4.40฿3.50n/a5
Feb ’25฿3.24
฿4.15
+28.0%
9.5%฿4.56฿3.50n/a5
Jan ’25฿3.28
฿4.15
+26.5%
9.5%฿4.56฿3.50n/a5
Dec ’24฿3.04
฿4.15
+36.4%
9.5%฿4.56฿3.50n/a5
Nov ’24฿3.32
฿4.89
+47.3%
5.4%฿5.20฿4.40฿3.005
Oct ’24฿3.90
฿5.00
+28.2%
2.8%฿5.20฿4.80฿3.084
Sep ’24฿4.56
฿5.00
+9.6%
2.8%฿5.20฿4.80฿2.564
Aug ’24฿4.60
฿5.03
+9.3%
3.9%฿5.20฿4.72฿2.524
Jul ’24฿4.36
฿4.86
+11.4%
5.5%฿5.20฿4.50฿2.824
Jun ’24฿4.40
฿4.86
+10.3%
5.5%฿5.20฿4.50฿3.104
May ’24฿4.34
฿4.91
+13.1%
5.2%฿5.20฿4.50฿3.784
Apr ’24฿4.28
฿5.03
+17.6%
7.0%฿5.48฿4.50฿3.784
Mar ’24฿4.56
฿5.03
+10.4%
7.0%฿5.48฿4.50฿3.384
Feb ’24฿4.72
฿4.88
+3.5%
5.7%฿5.15฿4.50฿3.243
Jan ’24฿4.22
฿4.83
+14.3%
6.7%฿5.15฿4.50฿3.282
Dec ’23฿4.40
฿4.62
+4.9%
8.6%฿5.15฿4.20฿3.043
Nov ’23฿3.78
฿4.42
+16.8%
12.1%฿5.15฿3.90฿3.323

Analyst Forecast: Target price is less than 20% higher than the current share price.

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