Centara Hotels and Resorts Leasehold Property Fund

SET:CTARAF Stock Report

Market Cap: ฿1.5b

Centara Hotels and Resorts Leasehold Property Fund Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: CTARAF (THB4.58) is trading below our estimate of fair value (THB9.07)

Significantly Below Fair Value: CTARAF is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As CTARAF is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CTARAF. This is calculated by dividing CTARAF's market cap by their current revenue.
What is CTARAF's PS Ratio?
PS Ratio8x
Sales฿183.81m
Market Cap฿1.47b

Price to Sales Ratio vs Peers

How does CTARAF's PS Ratio compare to its peers?

The above table shows the PS ratio for CTARAF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.9x
GAHREIT Grande Hospitality Real Estate Investment Trust
8.7xn/a฿1.1b
GROREIT Grande Royal Orchid Hospitality Real Estate Investment Trust with Buy-Back Condition
7.8xn/a฿2.7b
LUXF Luxury Real Estate Investment Fund
8.6xn/a฿1.6b
DREIT Dusit Thani Freehold and Leasehold Real Estate Investment Trust
6.6xn/a฿3.6b
CTARAF Centara Hotels and Resorts Leasehold Property Fund
8xn/a฿1.5b

Price-To-Sales vs Peers: CTARAF is expensive based on its Price-To-Sales Ratio (8x) compared to the peer average (7.9x).

Price to Sales Ratio vs Industry

How does CTARAF's PS Ratio compare vs other companies in the Asian Hotel and Resort REITs Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
CTARAF 8.0xIndustry Avg. 8.3xNo. of Companies4PS048121620+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CTARAF is good value based on its Price-To-Sales Ratio (8x) compared to the Asian Hotel and Resort REITs industry average (8.3x).

Price to Sales Ratio vs Fair Ratio

What is CTARAF's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CTARAF PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio8x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate CTARAF's Price-To-Sales 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.

Discover undervalued companies

C.P. Tower Growth Leasehold Property Fund

฿4.9b

Specializes in real estate investments.

CPTREIT-F

฿5.28

7D

n/a

1Y

n/a

C.P. Tower Growth Leasehold Property Fund

฿4.9b

Specializes in real estate investments.

CPTGF

฿5.10

7D

0%

1Y

-1.0%

WHA Business Complex Freehold and Leasehold Real Estate Investment Trust

฿1.5b

Specializes in real estate investing.

WHABT

฿7.35

7D

2.1%

1Y

-13.5%