Rojana Industrial Park Public Company Limited

SET:ROJNA Stock Report

Market Cap: ฿12.9b

Rojana Industrial Park Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: ROJNA (THB6.4) is trading below our estimate of fair value (THB39.67)

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


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ROJNA. This is calculated by dividing ROJNA's market cap by their current earnings.
What is ROJNA's PE Ratio?
PE Ratio3.4x
Earnings฿3.80b
Market Cap฿12.93b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ROJNA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.7x
ACE Absolute Clean Energy
17.3xn/a฿13.0b
BCPG BCPG
11.6x-8.5%฿17.1b
WHAUP WHA Utilities and Power
14.8x14.6%฿18.3b
EA Energy Absolute
7x-11.2%฿21.5b
ROJNA Rojana Industrial Park
3.4x-15.7%฿12.9b

Price-To-Earnings vs Peers: ROJNA is good value based on its Price-To-Earnings Ratio (3.4x) compared to the peer average (12.7x).


Price to Earnings Ratio vs Industry

How does ROJNA's PE Ratio compare vs other companies in the Asian Electric Utilities Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ROJNA 3.4xIndustry Avg. 16.6xNo. of Companies15PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ROJNA is good value based on its Price-To-Earnings Ratio (3.4x) compared to the Asian Electric Utilities industry average (16.6x).


Price to Earnings Ratio vs Fair Ratio

What is ROJNA'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.

ROJNA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.4x
Fair PE Ratio10.4x

Price-To-Earnings vs Fair Ratio: ROJNA is good value based on its Price-To-Earnings Ratio (3.4x) compared to the estimated Fair Price-To-Earnings Ratio (10.4x).


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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