Sirisoft Valuation

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

SRS-R (THB4.92) is trading above our estimate of [[fair value]] (THB3.58)

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: SRS-R (THB4.92) is trading above our estimate of fair value (THB3.58)

Significantly Below Fair Value: SRS-R is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SRS-R. This is calculated by dividing SRS-R's market cap by their current earnings.
What is SRS-R's PE Ratio?
PE Ratio	26.8x
Earnings	฿29.35m
Market Cap	฿787.20m

SRS-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	0.9x
Enterprise Value/EBITDA	8.8x
PEG Ratio	0.6x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SRS-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	8.4x
TPS Practical Solution	10.3x	n/a	฿1.2b
I2 I2 Enterprise	7x	n/a	฿596.4m
VCOM Vintcom Technology	8.7x	n/a	฿755.2m
ITNS International Network System	7.6x	n/a	฿296.8m
SRS-R Sirisoft	26.8x	46.8%	฿787.2m

Price-To-Earnings vs Peers: SRS-R is expensive based on its Price-To-Earnings Ratio (26.8x) compared to the peer average (8.4x).

Price to Earnings Ratio vs Industry

How does SRS-R's PE Ratio compare vs other companies in the Asian IT Industry?

13 Companies	Price / Earnings	Estimated Growth	Market Cap

13 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: SRS-R is expensive based on its Price-To-Earnings Ratio (26.8x) compared to the Asian IT industry average (24.1x).

Price to Earnings Ratio vs Fair Ratio

What is SRS-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.

SRS-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	26.8x
Fair PE Ratio	17.8x

Price-To-Earnings vs Fair Ratio: SRS-R is expensive based on its Price-To-Earnings Ratio (26.8x) compared to the estimated Fair Price-To-Earnings Ratio (17.8x).

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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