MFC Industrial Real Estate Investment Trust

THAMSE:MIT-F Stock Report

Market Cap: ฿267.2m

MFC Industrial Real Estate Investment Trust Valuation

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

Below Fair Value: MIT-F (THB3.18) is trading below our estimate of fair value (THB9.55)

Significantly Below Fair Value: MIT-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 MIT-F?

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

The above table shows the Price to Earnings ratio for MIT-F. This is calculated by dividing MIT-F's market cap by their current earnings.
What is MIT-F's PE Ratio?
PE Ratio2.1x
Earnings฿127.45m
Market Cap฿267.15m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MIT-F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.3x
TNPF Trinity Freehold and Leasehold Property Fund
5.6xn/a฿222.6m
BAREIT BA Airport Leasehold Real Estate Investment Trust
12.1xn/a฿9.9b
MNRF MFC Multi-National Residence Fund
14xn/a฿234.4m
M-STOR MFC-Strategic Storage Fund
17.8xn/a฿453.0m
MIT-F MFC Industrial Real Estate Investment Trust
2.1xn/a฿267.2m

Price-To-Earnings vs Peers: MIT-F is good value based on its Price-To-Earnings Ratio (2.1x) compared to the peer average (32.9x).

Price to Earnings Ratio vs Industry

How does MIT-F's PE Ratio compare vs other companies in the Asian REITs Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MIT-F 2.1xIndustry Avg. 14.0xNo. of Companies11PE0816243240+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MIT-F is good value based on its Price-To-Earnings Ratio (2.1x) compared to the Asian REITs industry average (15.3x).

Price to Earnings Ratio vs Fair Ratio

What is MIT-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.

MIT-F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.1x
Fair PE Ration/a

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