Central Retail Corporation Valuation

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

Below Fair Value: CRC-R (THB33.75) is trading below our estimate of fair value (THB55.14)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CRC-R?

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

The above table shows the Price to Earnings ratio for CRC-R. This is calculated by dividing CRC-R's market cap by their current earnings.
What is CRC-R's PE Ratio?
PE Ratio	22.4x
Earnings	฿9.10b
Market Cap	฿202.04b

CRC-R 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	1.3x
Enterprise Value/EBITDA	19.4x
PEG Ratio	2x

Price to Earnings Ratio vs Peers

How does CRC-R's PE Ratio compare to its peers?

The above table shows the PE ratio for CRC-R 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	28x
OR PTT Oil and Retail Business	36.9x	29.6%	฿175.2b
HMPRO Home Product Center	19.7x	1.8%	฿127.6b
GLOBAL Siam Global House	34.1x	15.4%	฿83.2b
COM7 Com7	21.3x	12.7%	฿63.0b
CRC-R Central Retail Corporation	22.4x	11.1%	฿202.0b

Price-To-Earnings vs Peers: CRC-R is good value based on its Price-To-Earnings Ratio (22.4x) compared to the peer average (28x).

Price to Earnings Ratio vs Industry

How does CRC-R's PE Ratio compare vs other companies in the Asian Multiline Retail Industry?

3 Companies	Price / Earnings	Estimated Growth	Market Cap

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: CRC-R is expensive based on its Price-To-Earnings Ratio (22.4x) compared to the Asian Multiline Retail industry average (22.2x).

Price to Earnings Ratio vs Fair Ratio

What is CRC-R'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.

CRC-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	22.4x
Fair PE Ratio	26.1x

Price-To-Earnings vs Fair Ratio: CRC-R is good value based on its Price-To-Earnings Ratio (22.4x) compared to the estimated Fair Price-To-Earnings Ratio (26.1x).

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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