Index Living Mall Public Company Limited

SET:ILM Stock Report

Market Cap: ฿8.4b

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 (THB16.6) is trading below our estimate of fair value (THB24.85)

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?

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

The above table shows the Price to Earnings ratio for ILM. This is calculated by dividing ILM's market cap by their current earnings.
What is ILM's PE Ratio?
PE Ratio10.9x
Earnings฿770.11m
Market Cap฿8.38b

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.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average40.2x
MEB MEB Corporation
19.8x11.1%฿8.6b
MGC Millennium Group Corporation (Asia)
50.2x67.7%฿4.6b
SINGER Singer Thailand
79.4xn/a฿7.4b
PTG PTG Energy
11.4x2.5%฿15.1b
ILM Index Living Mall
10.9x8.4%฿8.4b

Price-To-Earnings vs Peers: ILM is good value based on its Price-To-Earnings Ratio (10.9x) compared to the peer average (40.2x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
ILM 10.9xIndustry Avg. 20.8xNo. of Companies6PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ILM is good value based on its Price-To-Earnings Ratio (10.9x) compared to the TH Specialty Retail industry average (20.8x).

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 Ratio10.9x
Fair PE Ratio15.6x

Price-To-Earnings vs Fair Ratio: ILM is good value based on its Price-To-Earnings Ratio (10.9x) compared to the estimated Fair Price-To-Earnings Ratio (15.6x).

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.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿16.60
฿23.88
+43.8%
9.4%฿27.00฿21.50n/a4
Nov ’25฿17.40
฿25.05
+44.0%
8.7%฿27.00฿21.50n/a4
Oct ’25฿17.90
฿25.05
+39.9%
8.7%฿27.00฿21.50n/a4
Sep ’25฿16.80
฿25.05
+49.1%
8.7%฿27.00฿21.50n/a4
Aug ’25฿17.30
฿25.68
+48.4%
2.8%฿26.70฿25.00n/a4
Jul ’25฿17.80
฿25.68
+44.2%
2.8%฿26.70฿25.00n/a4
Jun ’25฿20.20
฿25.93
+28.3%
3.6%฿27.00฿25.00n/a4
May ’25฿20.80
฿25.90
+24.5%
2.7%฿26.70฿25.00n/a3
Apr ’25฿21.40
฿25.90
+21.0%
2.7%฿26.70฿25.00n/a3
Mar ’25฿22.20
฿26.23
+18.2%
3.4%฿27.00฿25.00n/a3
Feb ’25฿21.70
฿26.23
+20.9%
3.4%฿27.00฿25.00n/a3
Jan ’25฿23.90
฿26.23
+9.8%
3.4%฿27.00฿25.00n/a3
Dec ’24฿23.40
฿26.23
+12.1%
3.4%฿27.00฿25.00n/a3
Nov ’24฿23.10
฿26.07
+12.8%
2.9%฿26.70฿25.00฿17.403
Oct ’24฿23.50
฿24.35
+3.6%
6.5%฿26.50฿22.10฿17.904
Sep ’24฿21.80
฿23.48
+7.7%
4.3%฿24.80฿22.10฿16.804
Aug ’24฿22.90
฿23.48
+2.5%
4.3%฿24.80฿22.10฿17.304
Jul ’24฿21.80
฿23.48
+7.7%
4.3%฿24.80฿22.10฿17.804
Jun ’24฿22.40
฿21.87
-2.4%
8.4%฿24.00฿19.50฿20.203
May ’24฿20.70
฿21.87
+5.6%
8.4%฿24.00฿19.50฿20.803
Apr ’24฿20.90
฿21.87
+4.6%
8.4%฿24.00฿19.50฿21.403
Mar ’24฿19.50
฿21.87
+12.1%
8.4%฿24.00฿19.50฿22.203
Feb ’24฿19.00
฿23.05
+21.3%
4.1%฿24.00฿22.10฿21.702
Jan ’24฿18.60
฿23.05
+23.9%
4.1%฿24.00฿22.10฿23.902
Dec ’23฿19.20
฿23.05
+20.1%
4.1%฿24.00฿22.10฿23.402
Nov ’23฿17.70
฿22.45
+26.8%
1.6%฿22.80฿22.10฿23.102

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

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