Index Living Mall Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: ILM (THB18.3) is trading below our estimate of fair value (THB35.8)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for ILM. This is calculated by dividing ILM's market cap by their current preferred multiple.
What is ILM's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	฿9.24b

ILM 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	8.1x
PEG Ratio	1.6x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ILM 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	57.4x
CHIC Chic Republic	54.1x	n/a	฿707.2m
MEB MEB Corporation	22.4x	11.8%	฿9.5b
SINGER Singer Thailand	119.7x	n/a	฿9.4b
MOSHI Moshi Moshi Retail Corporation	33.4x	20.3%	฿14.6b
ILM Index Living Mall	12x	7.5%	฿9.2b

Price-To-Earnings vs Peers: ILM is good value based on its Price-To-Earnings Ratio (12x) compared to the peer average (57.4x).

Price to Earnings Ratio vs Industry

How does ILM's PE Ratio compare vs other companies in the TH Specialty Retail Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	7.6%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	7.6%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: ILM is good value based on its Price-To-Earnings Ratio (12x) compared to the TH Specialty Retail industry average (21.2x).

Price to Earnings Ratio vs Fair Ratio

What is ILM'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.

ILM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12x
Fair PE Ratio	16x

Price-To-Earnings vs Fair Ratio: ILM is good value based on its Price-To-Earnings Ratio (12x) compared to the estimated Fair Price-To-Earnings Ratio (16x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ILM forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	฿18.30	฿25.05 +36.9%	8.7%	฿27.00	฿21.50	n/a	4
Sep ’25	฿16.80	฿25.05 +49.1%	8.7%	฿27.00	฿21.50	n/a	4
Aug ’25	฿17.30	฿25.68 +48.4%	2.8%	฿26.70	฿25.00	n/a	4
Jul ’25	฿17.80	฿25.68 +44.2%	2.8%	฿26.70	฿25.00	n/a	4
Jun ’25	฿20.20	฿25.93 +28.3%	3.6%	฿27.00	฿25.00	n/a	4
May ’25	฿20.80	฿25.90 +24.5%	2.7%	฿26.70	฿25.00	n/a	3
Apr ’25	฿21.40	฿25.90 +21.0%	2.7%	฿26.70	฿25.00	n/a	3
Mar ’25	฿22.20	฿26.23 +18.2%	3.4%	฿27.00	฿25.00	n/a	3
Feb ’25	฿21.70	฿26.23 +20.9%	3.4%	฿27.00	฿25.00	n/a	3
Jan ’25	฿23.90	฿26.23 +9.8%	3.4%	฿27.00	฿25.00	n/a	3
Dec ’24	฿23.40	฿26.23 +12.1%	3.4%	฿27.00	฿25.00	n/a	3
Nov ’24	฿23.10	฿26.07 +12.8%	2.9%	฿26.70	฿25.00	n/a	3
Oct ’24	฿23.50	฿24.35 +3.6%	6.5%	฿26.50	฿22.10	n/a	4
Sep ’24	฿21.80	฿23.48 +7.7%	4.3%	฿24.80	฿22.10	฿16.80	4
Aug ’24	฿22.90	฿23.48 +2.5%	4.3%	฿24.80	฿22.10	฿17.30	4
Jul ’24	฿21.80	฿23.48 +7.7%	4.3%	฿24.80	฿22.10	฿17.80	4
Jun ’24	฿22.40	฿21.87 -2.4%	8.4%	฿24.00	฿19.50	฿20.20	3
May ’24	฿20.70	฿21.87 +5.6%	8.4%	฿24.00	฿19.50	฿20.80	3
Apr ’24	฿20.90	฿21.87 +4.6%	8.4%	฿24.00	฿19.50	฿21.40	3
Mar ’24	฿19.50	฿21.87 +12.1%	8.4%	฿24.00	฿19.50	฿22.20	3
Feb ’24	฿19.00	฿23.05 +21.3%	4.1%	฿24.00	฿22.10	฿21.70	2
Jan ’24	฿18.60	฿23.05 +23.9%	4.1%	฿24.00	฿22.10	฿23.90	2
Dec ’23	฿19.20	฿23.05 +20.1%	4.1%	฿24.00	฿22.10	฿23.40	2
Nov ’23	฿17.70	฿22.45 +26.8%	1.6%	฿22.80	฿22.10	฿23.10	2
Oct ’23	฿16.30	฿21.85 +34.0%	4.3%	฿22.80	฿20.90	฿23.50	2
Sep ’23	฿18.10	฿21.85 +20.7%	4.3%	฿22.80	฿20.90	฿21.80	2

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.