Electricity Generating Valuation

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

EGCO-R (THB115.5) is trading below our estimate of [[fair value]] (THB157.25)

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

Below Fair Value: EGCO-R (THB115.5) is trading below our estimate of fair value (THB157.25)

Significantly Below Fair Value: EGCO-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 EGCO-R?

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

The above table shows the Price to Sales ratio for EGCO-R. This is calculated by dividing EGCO-R's market cap by their current revenue.
What is EGCO-R's PS Ratio?
PS Ratio	1.5x
Sales	฿41.40b
Market Cap	฿60.81b

EGCO-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	3.4x
Enterprise Value/EBITDA	546.4x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for EGCO-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	1.4x
BGRIM B.Grimm Power	1x	1.5%	฿53.7b
RATCH Ratch Group	2.1x	16.2%	฿66.3b
GPSC Global Power Synergy	1.3x	-2.7%	฿117.0b
BPP Banpu Power	1.2x	4.7%	฿35.4b
EGCO-R Electricity Generating	1.5x	-6.3%	฿60.8b

Price-To-Sales vs Peers: EGCO-R is expensive based on its Price-To-Sales Ratio (1.5x) compared to the peer average (1.4x).

Price to Sales Ratio vs Industry

How does EGCO-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: EGCO-R is good value based on its Price-To-Sales Ratio (1.5x) compared to the TH Renewable Energy industry average (2.1x).

Price to Sales Ratio vs Fair Ratio

What is EGCO-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.

EGCO-R PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.5x
Fair PS Ratio	1.6x

Price-To-Sales vs Fair Ratio: EGCO-R is good value based on its Price-To-Sales Ratio (1.5x) compared to the estimated Fair Price-To-Sales Ratio (1.6x).

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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