Moong Pattana International (SET:MOONG) - Share price, News & Analysis

Q: What is the Fair Price of MOONG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

MOONG (THB3.3) is trading below our estimate of [[fair value]] (THB4.49)

MOONG fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	3/6
Financial Health	6/6
Dividends	4/6

MOONG Stock Overview

Moong Pattana International Public Company Limited distributes baby and infant products, and other products in Thailand.

Rewards

Trading at 26.5% below our estimate of its fair value

Risk Analysis

Earnings have declined by 6.8% per year over past 5 years

Highly volatile share price over the past 3 months

Unstable dividend track record

Does not have a meaningful market cap (THB1B)

Moong Pattana International Competitors

Phol Dhanya

SET:PHOL

฿708.8m

I.C.C. International

SET:ICC

฿8.8b

Saha Pathanapibul

SET:SPC

฿21.7b

Chic Republic

SET:CHIC

฿1.1b

Price History & Performance

Summary of all time highs, changes and price drops for Moong Pattana International
Historical stock prices
Current Share Price	฿3.30
52 Week High	฿4.18
52 Week Low	฿2.15
Beta	0.43
1 Month Change	12.25%
3 Month Change	39.24%
1 Year Change	32.00%
3 Year Change	47.32%
5 Year Change	0%
Change since IPO	146.27%

Shareholder Returns

	MOONG	TH Retail Distributors	TH Market
7D	-0.6%	0.4%	1.9%
1Y	32.0%	8.4%	6.6%

Return vs Industry: MOONG exceeded the TH Retail Distributors industry which returned 8.4% over the past year.

Return vs Market: MOONG exceeded the TH Market which returned 6.3% over the past year.

Price Volatility

Is MOONG's price volatile compared to industry and market?
MOONG volatility
MOONG Average Weekly Movement	14.1%
Retail Distributors Industry Average Movement	7.6%
Market Average Movement	4.8%
10% most volatile stocks in TH Market	10.4%
10% least volatile stocks in TH Market	2.4%

Stable Share Price: MOONG is more volatile than 90% of TH stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: MOONG's weekly volatility has increased from 7% to 14% over the past year.

About the Company

Founded	Employees	CEO	Website
1981	n/a	Sureeporn Anuvatudom	https://www.moongpattana.com

Moong Pattana International Public Company Limited distributes baby and infant products, and other products in Thailand. It operates in two segments, Distribution of Baby and Infant Products; and Distribution of Other Products. The company offers nipple and bottle products, breastfeeding support products, baby wipes, oral cleaning products, healthcare and hygiene products, cleaning and skin care products, and products for washing and cleaning baby bottles, as well as feed line, supplement, and accessory line products under the under pigeon brand name; butterfly pea serums for eyebrow and hair, as well as snow lotus balms to relieve scalds, bruises, bruises, ants, or mosquito bites under the Ai + aoon brand name; and baby pad child pads under the Softex brand.

Moong Pattana International Fundamentals Summary

How do Moong Pattana International's earnings and revenue compare to its market cap?
MOONG fundamental statistics
Market Cap	฿1.11b
Earnings (TTM)	฿73.88m
Revenue (TTM)	฿819.49m

15.1x

P/E Ratio

1.4x

P/S Ratio

Is MOONG overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MOONG income statement (TTM)
Revenue	฿819.49m
Cost of Revenue	฿482.08m
Gross Profit	฿337.41m
Other Expenses	฿263.52m
Earnings	฿73.88m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.22
Gross Margin	41.17%
Net Profit Margin	9.01%
Debt/Equity Ratio	0%

How did MOONG perform over the long term?

See historical performance and comparison

Dividends

3.2%

Current Dividend Yield

48%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MOONG. This is calculated by dividing MOONG's market cap by their current preferred multiple.
What is MOONG's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	฿1.11b

MOONG 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	1.2x
Enterprise Value/EBITDA	57.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

MOONG PE Ratio vs Peers

The above table shows the PE ratio for MOONG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	25.2x
PHOL Phol Dhanya	9.8x	n/a	฿708.8m
ICC I.C.C. International	39.8x	n/a	฿8.8b
SPC Saha Pathanapibul	12.3x	n/a	฿21.7b
CHIC Chic Republic	38.8x	n/a	฿1.1b
MOONG Moong Pattana International	15.1x	n/a	฿1.1b

Price-To-Earnings vs Peers: MOONG is good value based on its Price-To-Earnings Ratio (15.1x) compared to the peer average (25.2x).

Price to Earnings Ratio vs Industry

How does MOONG's PE Ratio compare vs other companies in the Asian Retail Distributors Industry?

Price-To-Earnings vs Industry: MOONG is good value based on its Price-To-Earnings Ratio (15.1x) compared to the Asian Retail Distributors industry average (16.6x)

Price to Earnings Ratio vs Fair Ratio

What is MOONG'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.

MOONG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	15.1x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MOONG's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of MOONG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MOONG (THB3.3) is trading below our estimate of fair value (THB4.49)

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

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

Future Growth

How is Moong Pattana International forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

-2.7%

Forecasted Retail industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Moong Pattana International has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Discover growth companies

Examine whether Moong Pattana International is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Moong Pattana International performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-6.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MOONG has high quality earnings.

Growing Profit Margin: MOONG's current net profit margins (9%) are higher than last year (8.7%).

Past Earnings Growth Analysis

Earnings Trend: MOONG's earnings have declined by 6.8% per year over the past 5 years.

Accelerating Growth: MOONG's earnings growth over the past year (6.4%) exceeds its 5-year average (-6.8% per year).

Earnings vs Industry: MOONG earnings growth over the past year (6.4%) underperformed the Retail Distributors industry 10.2%.

Return on Equity

High ROE: MOONG's Return on Equity (6.8%) is considered low.

Discover strong past performing companies

Financial Health

How is Moong Pattana International's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: MOONG's short term assets (THB403.1M) exceed its short term liabilities (THB203.8M).

Long Term Liabilities: MOONG's short term assets (THB403.1M) exceed its long term liabilities (THB84.8M).

Debt to Equity History and Analysis

Debt Level: MOONG is debt free.

Reducing Debt: MOONG has no debt compared to 5 years ago when its debt to equity ratio was 10.1%.

Debt Coverage: MOONG has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: MOONG has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

Discover healthy companies

Dividend

What is Moong Pattana International current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

3.18%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: MOONG's dividend (3.18%) is higher than the bottom 25% of dividend payers in the TH market (1.7%).

High Dividend: MOONG's dividend (3.18%) is low compared to the top 25% of dividend payers in the TH market (5.41%).

Stability and Growth of Payments

Stable Dividend: MOONG's dividend payments have been volatile in the past 10 years.

Growing Dividend: MOONG's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (48%), MOONG's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (75.7%), MOONG's dividend payments are covered by cash flows.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.5yrs

Average management tenure

CEO

Sureeporn Anuvatudom (72 yo)

8.58yrs

Tenure

฿120,000

Compensation

Ms. Sureeporn Anuvatudom has been the Joint Chief Executive Officer of Moong Pattana International Public Company Limited since 2014 and served as its Senior Vice President of Central Management since 2008...

Leadership Team

Experienced Management: MOONG's management team is considered experienced (4.5 years average tenure).

Board Members

Experienced Board: MOONG's board of directors are considered experienced (9.3 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/08/09 00:00
End of Day Share Price	2022/08/09 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31