MFC Multi-National Residence Fund

SET:MNRF Stock Report

Market Cap: ฿243.0m

MFC Multi-National Residence Fund Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: MNRF (THB2.2) is trading above our estimate of fair value (THB0.06)

Significantly Below Fair Value: MNRF is trading above our estimate of fair value.


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MNRF. This is calculated by dividing MNRF's market cap by their current earnings.
What is MNRF's PE Ratio?
PE Ratio15.2x
Earnings฿15.56m
Market Cap฿242.95m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MNRF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.9x
TNPF Trinity Freehold and Leasehold Property Fund
5.6xn/a฿224.0m
M-STOR MFC-Strategic Storage Fund
17.5xn/a฿453.0m
SSTRT Sub Sri Thai Real Estate Investment Trust
10xn/a฿932.8m
BKKCP Bangkok Commercial Property Fund
18.2xn/a฿890.0m
MNRF MFC Multi-National Residence Fund
15.2xn/a฿243.0m

Price-To-Earnings vs Peers: MNRF is expensive based on its Price-To-Earnings Ratio (15.2x) compared to the peer average (12.9x).


Price to Earnings Ratio vs Industry

How does MNRF's PE Ratio compare vs other companies in the Global Residential REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MNRF 15.2xIndustry Avg. 26.4xNo. of Companies9PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MNRF is good value based on its Price-To-Earnings Ratio (15.2x) compared to the Global Residential REITs industry average (26.4x).


Price to Earnings Ratio vs Fair Ratio

What is MNRF'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.

MNRF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MNRF'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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