B

Betagro PCL
SET:BTG

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Betagro PCL
SET:BTG
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Price: 18.7 THB Market Closed
Market Cap: 36.2B THB
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Relative Value

The Relative Value of one BTG stock under the Base Case scenario is 34.76 THB. Compared to the current market price of 18.7 THB, Betagro PCL is Undervalued by 46%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

BTG Relative Value
Base Case
34.76 THB
Undervaluation 46%
Relative Value
Price
B
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
76
vs Industry
70
Median 3Y
0.4
Median 5Y
0.4
Industry
1
Forward
0.3
vs History
7
vs Industry
12
Median 3Y
-22.7
Median 5Y
-22.7
Industry
16.8
Forward
16.2
vs History
30
vs Industry
22
Median 3Y
7.8
Median 5Y
7.8
Industry
9.9
vs History
7
vs Industry
23
Median 3Y
-12.5
Median 5Y
-12.5
Industry
17.2
vs History
92
vs Industry
35
Median 3Y
1.7
Median 5Y
1.7
Industry
1.5
vs History
65
vs Industry
64
Median 3Y
0.6
Median 5Y
0.6
Industry
1.1
Forward
0.5
vs History
50
vs Industry
34
Median 3Y
4.4
Median 5Y
4.4
Industry
4.8
vs History
53
vs Industry
20
Median 3Y
8.6
Median 5Y
8.6
Industry
10.6
Forward
7.2
vs History
30
vs Industry
22
Median 3Y
7.1
Median 5Y
7.1
Industry
13.7
Forward
15.8
vs History
30
vs Industry
16
Median 3Y
11.1
Median 5Y
11.1
Industry
11.2
vs History
vs Industry
15
Median 3Y
-35.3
Median 5Y
-35.3
Industry
15.5
vs History
88
vs Industry
40
Median 3Y
1.2
Median 5Y
1.2
Industry
1.1

Multiples Across Competitors

BTG Competitors Multiples
Betagro PCL Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
TH
Betagro PCL
SET:BTG
36.2B THB 0.3 43.8 8 24.6
JP
Goyo Foods Industry Co Ltd
TSE:2230
53.2T JPY 23 895.9 540 752.8 186 542.5 318 284.3
CH
Nestle SA
SIX:NESN
190.5B CHF 2.1 17 12.4 15.1
US
Mondelez International Inc
NASDAQ:MDLZ
80B USD 2.2 21 12.9 15.5
ZA
Tiger Brands Ltd
JSE:TBS
45.5B Zac 0 0 0 0
FR
Danone SA
PAR:BN
41.2B EUR 1.5 41.1 9.4 13.8
US
Kraft Heinz Co
NASDAQ:KHC
36.9B USD 1.4 27 8.7 10.3
ZA
Avi Ltd
JSE:AVI
35.9B Zac 0 0 0 0
CN
Foshan Haitian Flavouring and Food Co Ltd
SSE:603288
258.6B CNY 10 43.2 37.1 37.1
US
General Mills Inc
NYSE:GIS
35.2B USD 1.8 13.5 10.7 12.3
US
Hershey Co
NYSE:HSY
34.4B USD 3.1 19.4 12.8 15.1
P/S Multiple
Revenue Growth P/S to Growth
TH
B
Betagro PCL
SET:BTG
Average P/S: 2 657.6
0.3
17%
0
JP
G
Goyo Foods Industry Co Ltd
TSE:2230
23 895.9
N/A N/A
CH
Nestle SA
SIX:NESN
2.1
5%
0.4
US
Mondelez International Inc
NASDAQ:MDLZ
2.2
13%
0.2
ZA
T
Tiger Brands Ltd
JSE:TBS
Not Available
17%
N/A
FR
Danone SA
PAR:BN
1.5
9%
0.2
US
Kraft Heinz Co
NASDAQ:KHC
1.4
1%
2
ZA
A
Avi Ltd
JSE:AVI
Not Available
23%
N/A
CN
Foshan Haitian Flavouring and Food Co Ltd
SSE:603288
10
35%
0.3
US
General Mills Inc
NYSE:GIS
1.8
2%
0.8
US
Hershey Co
NYSE:HSY
3.1
6%
0.5
P/E Multiple
Earnings Growth P/E to Growth
TH
B
Betagro PCL
SET:BTG
Average P/E: 60 108.8
43.8
N/A N/A
JP
G
Goyo Foods Industry Co Ltd
TSE:2230
540 752.8
N/A N/A
CH
Nestle SA
SIX:NESN
17
18%
1
US
Mondelez International Inc
NASDAQ:MDLZ
21
5%
4.1
ZA
T
Tiger Brands Ltd
JSE:TBS
Not Available
50%
N/A
FR
Danone SA
PAR:BN
41.1
211%
0.2
US
Kraft Heinz Co
NASDAQ:KHC
27
38%
0.7
ZA
A
Avi Ltd
JSE:AVI
Not Available
29%
N/A
CN
Foshan Haitian Flavouring and Food Co Ltd
SSE:603288
43.2
40%
1.1
US
General Mills Inc
NYSE:GIS
13.5
12%
1.1
US
Hershey Co
NYSE:HSY
19.4
-2%
N/A
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
TH
B
Betagro PCL
SET:BTG
Average EV/EBITDA: 20 739.4
8
115%
0.1
JP
G
Goyo Foods Industry Co Ltd
TSE:2230
186 542.5
N/A N/A
CH
Nestle SA
SIX:NESN
12.4
5%
2.3
US
Mondelez International Inc
NASDAQ:MDLZ
12.9
19%
0.7
ZA
T
Tiger Brands Ltd
JSE:TBS
Not Available
74%
N/A
FR
Danone SA
PAR:BN
9.4
4%
2.5
US
Kraft Heinz Co
NASDAQ:KHC
8.7
6%
1.4
ZA
A
Avi Ltd
JSE:AVI
Not Available
24%
N/A
CN
Foshan Haitian Flavouring and Food Co Ltd
SSE:603288
37.1
65%
0.6
US
General Mills Inc
NYSE:GIS
10.7
3%
3.6
US
Hershey Co
NYSE:HSY
12.8
0%
N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
TH
B
Betagro PCL
SET:BTG
Average EV/EBIT: 35 380.9
24.6
N/A N/A
JP
G
Goyo Foods Industry Co Ltd
TSE:2230
318 284.3
N/A N/A
CH
Nestle SA
SIX:NESN
15.1
3%
4.5
US
Mondelez International Inc
NASDAQ:MDLZ
15.5
19%
0.8
ZA
T
Tiger Brands Ltd
JSE:TBS
Not Available
39%
N/A
FR
Danone SA
PAR:BN
13.8
17%
0.8
US
Kraft Heinz Co
NASDAQ:KHC
10.3
6%
1.7
ZA
A
Avi Ltd
JSE:AVI
Not Available
24%
N/A
CN
Foshan Haitian Flavouring and Food Co Ltd
SSE:603288
37.1
45%
0.8
US
General Mills Inc
NYSE:GIS
12.3
2%
6.7
US
Hershey Co
NYSE:HSY
15.1
-2%
N/A

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