LH Shopping Centers Leasehold Real Estate Investment Trust Valuation

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

LHSC (THB11.1) is trading below our estimate of [[fair value]] (THB13.34)

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: LHSC (THB11.1) is trading below our estimate of fair value (THB13.34)

Significantly Below Fair Value: LHSC is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for LHSC. This is calculated by dividing LHSC's market cap by their current earnings.
What is LHSC's PE Ratio?
PE Ratio	7.3x
Earnings	฿747.05m
Market Cap	฿5.42b

LHSC 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	3.9x
Enterprise Value/EBITDA	n/a
PEG Ratio	0.3x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for LHSC 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	11x
FUTURERT Future City Leasehold Real Estate Investment Trust	14x	n/a	฿6.6b
ALLY Ally Freehold And Leasehold Real Estate Investment Trust	11.4x	29.2%	฿4.5b
TTLPF Talaad Thai Leasehold Property Fund	13.7x	n/a	฿2.8b
MJLF Major Cineplex Lifestyle Leasehold Property Fund	5x	n/a	฿1.4b
LHSC LH Shopping Centers Leasehold Real Estate Investment Trust	7.3x	28.2%	฿5.4b

Price-To-Earnings vs Peers: LHSC is good value based on its Price-To-Earnings Ratio (7.3x) compared to the peer average (11x).

Price to Earnings Ratio vs Industry

How does LHSC's PE Ratio compare vs other companies in the Asian Retail REITs Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: LHSC is good value based on its Price-To-Earnings Ratio (7.3x) compared to the Asian Retail REITs industry average (14.1x).

Price to Earnings Ratio vs Fair Ratio

What is LHSC'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.

LHSC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.3x
Fair PE Ratio	15.8x

Price-To-Earnings vs Fair Ratio: LHSC is good value based on its Price-To-Earnings Ratio (7.3x) compared to the estimated Fair Price-To-Earnings Ratio (15.8x).

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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