B

Bhiraj Office Leasehold Real Estate Investment Trust
SET:BOFFICE

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Bhiraj Office Leasehold Real Estate Investment Trust
SET:BOFFICE
Watchlist
Price: 5.65 THB 1.8% Market Closed
Market Cap: ฿4.2B

P/FCFE

9.3
Current
19%
More Expensive
vs 3-y average of 7.8

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
9.3
=
Market Cap
฿4B
/
Free Cash Flow to Equity
฿448.6m

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
9.3
=
Market Cap
฿4B
/
Free Cash Flow to Equity
฿448.6m

Valuation Scenarios

Bhiraj Office Leasehold Real Estate Investment Trust is trading above its 3-year average

If P/FCFE returns to its 3-Year Average (7.8), the stock would be worth ฿4.74 (16% downside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-16%
Maximum Upside
+45%
Average Upside
14%
Scenario P/FCFE Value Implied Price Upside/Downside
Current Multiple 9.3 ฿5.65
0%
3-Year Average 7.8 ฿4.74
-16%
5-Year Average 8.4 ฿5.14
-9%
Industry Average 12.8 ฿7.78
+38%
Country Average 13.4 ฿8.17
+45%

Forward P/FCFE
Today’s price vs future free cash flow to equity

Not enough data available to calculate forward P/FCFE

Peer Comparison

All Multiples
P/FCFE
P/E
All Countries
Close
P/E Multiple
Earnings Growth PEG
TH
B
Bhiraj Office Leasehold Real Estate Investment Trust
SET:BOFFICE
Average P/E: 8 458.1
10.9
N/A N/A
US
G
GE Vernova LLC
NYSE:GEV
Not Available
19%
N/A
UK
E
Eight Capital Partners PLC
F:ECS
Not Available N/A N/A
US
C
China Industrial Group Inc
OTC:CIND
4 020.7
N/A N/A
NL
N
Nepi Rockcastle NV
JSE:NRP
10.4
1%
10.4
US
F
Fintech Ecosystem Development Corp
NASDAQ:FEXD
38 074.9
N/A N/A
US
C
CoreWeave Inc
NASDAQ:CRWV
Not Available N/A N/A
CH
G
Galderma Group AG
SIX:GALD
Not Available
47%
N/A
US
Coupang Inc
F:788
173.5
96%
1.8
US
Symbotic Inc
NASDAQ:SYM
Negative Multiple: -3 268.5 N/A N/A
US
Q
Qnity Electronics Inc
NYSE:Q
Not Available
15%
N/A

Market Distribution

In line with most companies in Thailand
Percentile
32nd
Based on 285 companies
32nd percentile
9.3
Low
0.1 — 8.8
Typical Range
8.8 — 20
High
20 —
Distribution Statistics
Thailand
Min 0.1
30th Percentile 8.8
Median 13.4
70th Percentile 20
Max 1 747

Bhiraj Office Leasehold Real Estate Investment Trust
Glance View

Market Cap
4.2B THB
Industry
N/A

Bhiraj Office Leasehold Real Estate Investment Trust is a closed-end real estate investment trust. The company is headquartered in Bangkok, Bangkok Metropolis. The company went IPO on 2018-01-23. The Trust's objectives are to mobilize funds raised from the selling of trust units and loan from financial institution to invest in the leasehold right of Bhiraj Tower at EmQuartier project that comprises most of the office rental areas in Bhiraj Tower at EmQuartier and the associated operation areas, including the transferred ownership of utility and movable property, which related to the operation of office buildings. Bhiraj Tower at EmQuartier office building has gross floor area of approximately 94,853 square meters and net leasable area of approximately 49,462 square meters. Its Bhiraj Tower at BITEC office building has gross floor area of approximately 70,741 square meters and net leasable area of approximately 32,072 square meters. The Trust is managed by Bhiraj REIT Management Company Limited. Bhiraj Management Company Limited is its property manager.

BOFFICE Intrinsic Value
6.93 THB
Undervaluation 19%
Intrinsic Value
Price ฿5.65
B
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