Clover Power Valuation

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

CV-R (THB0.22) is trading below our estimate of [[fair value]] (THB3.83)

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

Valuation Score

4/6

Valuation Score 4/6

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

Share Price vs Fair Value

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

Below Fair Value: CV-R (THB0.22) is trading below our estimate of fair value (THB3.83)

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

Key Valuation Metric

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

Key metric: As CV-R is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CV-R. This is calculated by dividing CV-R's market cap by their current revenue.
What is CV-R's PS Ratio?
PS Ratio	0.6x
Sales	฿599.99m
Market Cap	฿376.16m

CV-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	4.2x
Enterprise Value/EBITDA	-10.1x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does CV-R's PS Ratio compare to its peers?

The above table shows the PS ratio for CV-R vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	2.9x
GREEN Green Resources	7.4x	n/a	฿883.5m
TSE Thai Solar Energy	1.6x	n/a	฿2.0b
EP Eastern Power Group	1.9x	n/a	฿1.7b
PRIME Prime Road Power	0.7x	n/a	฿936.0m
CV-R Clover Power	0.6x	n/a	฿376.2m

Price-To-Sales vs Peers: CV-R is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (2.9x).

Price to Sales Ratio vs Industry

How does CV-R's PS Ratio compare vs other companies in the TH Renewable Energy Industry?

0 Companies	Price / Sales	Estimated Growth	Market Cap

No more companies available in this PS range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: CV-R is good value based on its Price-To-Sales Ratio (0.6x) compared to the TH Renewable Energy industry average (2x).

Price to Sales Ratio vs Fair Ratio

What is CV-R's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CV-R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.6x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate CV-R's Price-To-Sales Fair Ratio for valuation analysis.

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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