RELATIVE VALUATION OF ORIGIN PROPERTY PUBLIC COMPANY LIMITED

Abstract

Origin property public company is one of the top 10 market capitalization in real estate sector based on the Stock Exchange of Thailand. Which mainly provide the property products which are house, condominium, hotel, and home service. Relative valuation is the method to value the company’s stocks by implementing the multiple values from the relative’s company in the industry or peer company. Under the five years average of historical data would be used to tell that our target company which is Origin is undervalue or overvalue. Based on average in trailing price earnings ratio (P/E), trailing price to book value(P/BV), trailing enterprise value to earnings before interest and taxes (EV/EBITDA) and forward P/E, forward P/BV lastly forward EV/EBITDA. The expectation price of ORI in 2022 and 2023 is overvalue compared to its current price. From this valuation gives ORI target price by 2022 is 11.835 THB and 12.773 THB for 2023. Compare to the current price at 29th of April 2022 which is 11.000 THB. Thus, the recommendation for this stock is to "Buy"