Discounted cash flow valuation of haad thip public company limited

Abstract

This thematic paper demonstrates how to value the stock of HAAD THIP Public Company Limited (HTC) by applying the concept of the relative valuation models based on multiples. I applied Price to Earnings per share, Price to Book Value and Enterprise value to EBITDA methods to forecast the value of the HAAD THIP Public Company Limited. I recommend using EV/EBITDA as it is the most appropriate market benchmark for valuation as it derives from measurements that are most representative of firm activities. As a result the HTC target price based on trailing EV/EBITDA is 75.19 THB, compared to the current price (as of 9 November 2020) 36.00 THB, therefore I recommend based on trailing EV/EBITDA is to buy the undervalued HTC stock.