Gunkul Engineering PCL (SET:GUNKUL)

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Price: 2.46 THB

Market Cap: 21.7B THB

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Section:

Relative Value

The Relative Value of one GUNKUL stock under the Base Case scenario is 5.51 THB. Compared to the current market price of 2.46 THB, Gunkul Engineering PCL is Undervalued by 55%.

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.

What is Relative Valuation?

How is Relative Value calculated?

GUNKUL Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

2.4

P/S

vs History	85
vs Industry	32

Median 5Y

3.4

Industry

1.7

Forward

2.3

More Details

15.9

P/E

vs History	26
vs Industry	36

Median 5Y

12.1

Industry

15.1

Forward

13.5

More Details

11.4

P/OCF

vs History	53
vs Industry	18

Median 5Y

12.5

Industry

7.1

More Details

50.2

P/FCFE

vs History	12
vs Industry	3

Median 5Y

7.1

Industry

13.9

More Details

1.5

P/B

vs History	88
vs Industry	41

Median 5Y

2.2

Industry

1.4

More Details

3.7

EV/S

vs History	93
vs Industry	34

Median 5Y

5.7

Industry

2.8

Forward

3.6

More Details

11.9

EV/GP

vs History	73
vs Industry	25

Median 5Y

Industry

7.6

More Details

12.8

EV/EBITDA

vs History	65
vs Industry	28

Median 5Y

14.5

Industry

10.5

Forward

9.3

More Details

21.1

EV/EBIT

vs History	61
vs Industry	20

Median 5Y

23.8

Industry

14.9

Forward

26.7

More Details

17.7

EV/OCF

vs History	50
vs Industry	16

Median 5Y

18.8

Industry

11.2

More Details

35.7

EV/FCFF

vs History	19
vs Industry	17

Median 5Y

18.2

Industry

16.4

More Details

1.1

EV/IC

vs History	65
vs Industry	30

Median 5Y

1.2

Industry

0.9

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
TH	G	Gunkul Engineering PCL SET:GUNKUL	21.2B THB	2.4	15.9	12.8	21.1
CN		China Yangtze Power Co Ltd SSE:600900	665.8B CNY	8.1	22.4	20.7	20.7
ID	B	Barito Renewables Energy PT Tbk IDX:BREN	996.7T IDR	144.4	784.7	199.7	199.7
IN		Adani Green Energy Ltd NSE:ADANIGREEN	2.4T INR	22.1	210.6	34	46.2
CN		Huaneng Lancang River Hydropower Inc SSE:600025	172.4B CNY	6.6	21.8	21.1	21.1
CN		China Three Gorges Renewables Group Co Ltd SSE:600905	136.2B CNY	4.9	20.3	22.9	22.9
CN		China Longyuan Power Group Corp Ltd HKEX:916	142.2B HKD	3.6	25.6	22.4	22.4
ES	E	EDP Renovaveis SA ELI:EDPR	11.1B EUR	3.4	12.7	13.7	13.7
CN		Sichuan Chuantou Energy Co Ltd SSE:600674	81.6B CNY	53	17.7	268.8	268.8
IN		NHPC Ltd NSE:NHPC	793.7B INR	8.3	21.9	21.5	28.4
NZ		Meridian Energy Ltd NZX:MEL	15.4B NZD	3.2	35.9	24.2	24.2

				Revenue Growth
TH	G	Gunkul Engineering PCL SET:GUNKUL	Average P/S: 23.6 2.4	56%
CN		China Yangtze Power Co Ltd SSE:600900	8.1	17%
ID	B	Barito Renewables Energy PT Tbk IDX:BREN	144.4	N/A
IN		Adani Green Energy Ltd NSE:ADANIGREEN	22.1	179%
CN		Huaneng Lancang River Hydropower Inc SSE:600025	6.6	28%
CN		China Three Gorges Renewables Group Co Ltd SSE:600905	4.9	55%
CN		China Longyuan Power Group Corp Ltd HKEX:916	3.6	23%
ES	E	EDP Renovaveis SA ELI:EDPR	3.4	35%
CN		Sichuan Chuantou Energy Co Ltd SSE:600674	53	32%
IN		NHPC Ltd NSE:NHPC	8.3	99%
NZ		Meridian Energy Ltd NZX:MEL	3.2	-3%

				Earnings Growth
TH	G	Gunkul Engineering PCL SET:GUNKUL	Average P/E: 108.1 15.9	59%
CN		China Yangtze Power Co Ltd SSE:600900	22.4	37%
ID	B	Barito Renewables Energy PT Tbk IDX:BREN	784.7	N/A
IN		Adani Green Energy Ltd NSE:ADANIGREEN	210.6	369%
CN		Huaneng Lancang River Hydropower Inc SSE:600025	21.8	44%
CN		China Three Gorges Renewables Group Co Ltd SSE:600905	20.3	44%
CN		China Longyuan Power Group Corp Ltd HKEX:916	25.6	-42%
ES	E	EDP Renovaveis SA ELI:EDPR	12.7	120%
CN		Sichuan Chuantou Energy Co Ltd SSE:600674	17.7	31%
IN		NHPC Ltd NSE:NHPC	21.9	74%
NZ		Meridian Energy Ltd NZX:MEL	35.9	34%

				EBITDA Growth
TH	G	Gunkul Engineering PCL SET:GUNKUL	Average EV/EBITDA: 60.2 12.8	87%
CN		China Yangtze Power Co Ltd SSE:600900	20.7	71%
ID	B	Barito Renewables Energy PT Tbk IDX:BREN	199.7	N/A
IN		Adani Green Energy Ltd NSE:ADANIGREEN	34	210%
CN		Huaneng Lancang River Hydropower Inc SSE:600025	21.1	90%
CN		China Three Gorges Renewables Group Co Ltd SSE:600905	22.9	201%
CN		China Longyuan Power Group Corp Ltd HKEX:916	22.4	26%
ES	E	EDP Renovaveis SA ELI:EDPR	13.7	331%
CN		Sichuan Chuantou Energy Co Ltd SSE:600674	268.8	1 677%
IN		NHPC Ltd NSE:NHPC	21.5	117%
NZ		Meridian Energy Ltd NZX:MEL	24.2	81%

				EBIT Growth
TH	G	Gunkul Engineering PCL SET:GUNKUL	Average EV/EBIT: 62.7 21.1	18%
CN		China Yangtze Power Co Ltd SSE:600900	20.7	27%
ID	B	Barito Renewables Energy PT Tbk IDX:BREN	199.7	N/A
IN		Adani Green Energy Ltd NSE:ADANIGREEN	46.2	259%
CN		Huaneng Lancang River Hydropower Inc SSE:600025	21.1	41%
CN		China Three Gorges Renewables Group Co Ltd SSE:600905	22.9	51%
CN		China Longyuan Power Group Corp Ltd HKEX:916	22.4	22%
ES	E	EDP Renovaveis SA ELI:EDPR	13.7	169%
CN		Sichuan Chuantou Energy Co Ltd SSE:600674	268.8	805%
IN		NHPC Ltd NSE:NHPC	28.4	148%
NZ		Meridian Energy Ltd NZX:MEL	24.2	20%

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Gunkul Engineering PCL
SET:GUNKUL

Relative Value

Valuation Multiples

Multiples Across Competitors

GUNKUL Competitors Multiples
Gunkul Engineering PCL Competitors

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Company

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52 Week Range	1.95 3.16
Price Target

Gunkul Engineering PCL SET:GUNKUL

Relative Value

Valuation Multiples

Multiples Across Competitors

GUNKUL Competitors Multiples Gunkul Engineering PCL Competitors

See Also

Company

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Gunkul Engineering PCL
SET:GUNKUL

GUNKUL Competitors Multiples
Gunkul Engineering PCL Competitors