Country Group Development Valuation

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

CGD-F (THB0.34) is trading below our estimate of [[fair value]] (THB19.28)

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: CGD-F (THB0.34) is trading below our estimate of fair value (THB19.28)

Significantly Below Fair Value: CGD-F 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-F?

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

The above table shows the Price to Earnings ratio for CGD-F. This is calculated by dividing CGD-F's market cap by their current earnings.
What is CGD-F's PE Ratio?
PE Ratio	38.7x
Earnings	฿72.72m
Market Cap	฿2.81b

CGD-F 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	0.6x
Enterprise Value/EBITDA	2.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does CGD-F's PE Ratio compare to its peers?

The above table shows the PE ratio for CGD-F 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	11.6x
SENA Sena Development	7.4x	n/a	฿3.2b
BRI Britania	4.9x	4.3%	฿3.5b
PRIN Prinsiri	24x	n/a	฿2.5b
NOBLE Noble Development	10x	23.5%	฿3.9b
CGD-F Country Group Development	38.7x	n/a	฿2.8b

Price-To-Earnings vs Peers: CGD-F is expensive based on its Price-To-Earnings Ratio (38.7x) compared to the peer average (11.3x).

Price to Earnings Ratio vs Industry

How does CGD-F'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: CGD-F is expensive based on its Price-To-Earnings Ratio (38.7x) compared to the TH Real Estate industry average (13x).

Price to Earnings Ratio vs Fair Ratio

What is CGD-F'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.

CGD-F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	38.7x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CGD-F'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.

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