S Prime Growth Leasehold Real Estate Investment Trust

SET:SPRIME Stock Report

Market Cap: ฿1.9b

S Prime Growth Leasehold Real Estate Investment Trust Valuation

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

Below Fair Value: SPRIME (THB4.14) is trading below our estimate of fair value (THB15.07)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SPRIME. This is calculated by dividing SPRIME's market cap by their current earnings.
What is SPRIME's PE Ratio?
PE Ratio6.8x
Earnings฿273.48m
Market Cap฿1.86b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SPRIME vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.6x
MIPF Millionaire Property Fund
23.3xn/a฿1.9b
WHABT WHA Business Complex Freehold and Leasehold Real Estate Investment Trust
9.1xn/a฿1.5b
POPF Prime Office Leasehold Property Fund
7.7xn/a฿3.0b
SSTRT Sub Sri Thai Real Estate Investment Trust
10.2xn/a฿936.6m
SPRIME S Prime Growth Leasehold Real Estate Investment Trust
6.8xn/a฿1.9b

Price-To-Earnings vs Peers: SPRIME is good value based on its Price-To-Earnings Ratio (6.8x) compared to the peer average (12.6x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SPRIME 6.8xIndustry Avg. 16.9xNo. of Companies7PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SPRIME is good value based on its Price-To-Earnings Ratio (6.8x) compared to the Asian Office REITs industry average (16.9x).

Price to Earnings Ratio vs Fair Ratio

What is SPRIME'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.

SPRIME PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.8x
Fair PE Ration/a

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

Discover undervalued companies

Dusit Thani Freehold and Leasehold Real Estate Investment Trust

฿3.6b

A real estate investment trust.

DREIT

฿5.00

7D

0%

1Y

-2.9%

Bualuang Office Leasehold Real Estate Investment Trust

฿1.8b

Operates as a real estate investment trust in Thailand.

B-WORK

฿4.86

7D

-0.4%

1Y

-3.8%

C.P. Tower Growth Leasehold Property Fund

฿4.9b

Specializes in real estate investments.

CPTGF

฿5.10

7D

0%

1Y

-1.9%