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Authors: Monsicha Sangiamkittikul
Keywords: Financial Management
Charoen Pokphand Foods Public Company Limited
Relative valuation model
Issue Date: 19-Feb-2021
Publisher: Mahidol University
Abstract: This thematic paper aims to valuate value of Charoen Pokphand Foods Public Company Limited by using Relative Valuation method. Charoen Pokphand Foods Public Company Limited (CPF) operates in agro-industrial. CPF classify their business into 3 categories: food business, animal feed, and farming. CPF has continued expanded their business line to every level of agro-industry operation. They export to more than 30 countries and invest internationally in 17 countries. Relative Valuation model is based on a concept that we can compare the target company with other peer companies in the same industry by using financial ratio. To get target price of CPF, 3 domestic and 3 international companies in same industries were selected to be the benchmarks. Pro-forma PL and pro-forma Balance Sheet were estimated by using growth rate at 2.65% to get pro-forma Book Value, estimated EPS and estimated EBITDA as inputs in the model. The result from this paper shows target price of 34.82 Baht. so I would recommend to ‘Buy’ due to the stable growth and several sources of revenue.
Description: 61 leaves
Appears in Collections:Thematic Paper

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