Sime Darby Property Berhad Valuation

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

SIME.F ($0.3) is trading above our estimate of [[fair value]] ($0.13)

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: SIME.F ($0.3) is trading above our estimate of fair value ($0.13)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SIME.F?

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

The above table shows the Price to Earnings ratio for SIME.F. This is calculated by dividing SIME.F's market cap by their current earnings.
What is SIME.F's PE Ratio?
PE Ratio	17.8x
Earnings	RM 545.06m
Market Cap	RM 9.73b

SIME.F 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	2.9x
Enterprise Value/EBITDA	13.6x
PEG Ratio	3.8x

Price to Earnings Ratio vs Peers

How does SIME.F's PE Ratio compare to its peers?

The above table shows the PE ratio for SIME.F 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	39.8x
FOR Forestar Group	7.4x	2.9%	US$1.5b
STRS Stratus Properties	130x	n/a	US$208.2m
AXR AMREP	20.1x	n/a	US$189.4m
STHO Star Holdings	1.8x	n/a	US$149.8m
SIME.F Sime Darby Property Berhad	17.8x	4.8%	US$9.7b

Price-To-Earnings vs Peers: SIME.F is good value based on its Price-To-Earnings Ratio (17.8x) compared to the peer average (39.8x).

Price to Earnings Ratio vs Industry

How does SIME.F's PE Ratio compare vs other companies in the US Real Estate Industry?

6 Companies	Price / Earnings	Estimated Growth	Market Cap
STHO Star Holdings	1.8x	n/a	US$149.84m
STSR Strategic Student & Senior Housing Trust	2.5x	n/a	US$41.23m
XIN Xinyuan Real Estate	0.4x	n/a	US$18.47m
ILAL International Land Alliance	0.7x	n/a	US$6.40m

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: SIME.F is good value based on its Price-To-Earnings Ratio (17.8x) compared to the US Real Estate industry average (33.7x).

Price to Earnings Ratio vs Fair Ratio

What is SIME.F'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.

SIME.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	17.8x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SIME.F's Price-To-Earnings 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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