Forth Corporation Valuation

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

FORTH (THB11.9) is trading above our estimate of [[fair value]] (THB8.61)

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

Below Fair Value: FORTH (THB11.9) is trading above our estimate of fair value (THB8.61)

Significantly Below Fair Value: FORTH is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for FORTH. This is calculated by dividing FORTH's market cap by their current earnings.
What is FORTH's PE Ratio?
PE Ratio	49x
Earnings	฿227.05m
Market Cap	฿11.13b

FORTH 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	1.9x
Enterprise Value/EBITDA	11.3x
PEG Ratio	0.9x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for FORTH 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	21.3x
SVI SVI	11.8x	5.1%	฿15.1b
HANA Hana Microelectronics	20.1x	22.3%	฿24.6b
TEAM Team Precision	9.6x	n/a	฿1.9b
CCET Cal-Comp Electronics (Thailand)	43.8x	n/a	฿91.4b
FORTH Forth Corporation	49x	54.4%	฿11.1b

Price-To-Earnings vs Peers: FORTH is expensive based on its Price-To-Earnings Ratio (49x) compared to the peer average (21.3x).

Price to Earnings Ratio vs Industry

How does FORTH's PE Ratio compare vs other companies in the Asian Electronic Industry?

37 Companies	Price / Earnings	Estimated Growth	Market Cap

37 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: FORTH is expensive based on its Price-To-Earnings Ratio (49x) compared to the Asian Electronic industry average (24.2x).

Price to Earnings Ratio vs Fair Ratio

What is FORTH'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.

FORTH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	49x
Fair PE Ratio	45.1x

Price-To-Earnings vs Fair Ratio: FORTH is expensive based on its Price-To-Earnings Ratio (49x) compared to the estimated Fair Price-To-Earnings Ratio (45.1x).

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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