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INET Leasehold Real Estate Investment
SET:INETREIT

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INET Leasehold Real Estate Investment
SET:INETREIT
Watchlist
Price: 12.2 THB 0.83% Market Closed
Market Cap: ฿9B

P/S

12.4
Current
68%
More Expensive
vs 3-y average of 7.4

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
12.4
=
Market Cap
฿9B
/
Revenue
฿720.4m

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
12.4
=
Market Cap
฿9B
/
Revenue
฿720.4m

Valuation Scenarios

INET Leasehold Real Estate Investment is trading above its 3-year average

If P/S returns to its 3-Year Average (7.4), the stock would be worth ฿7.24 (41% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-89%
Maximum Upside
No Upside Scenarios
Average Downside
63%
Scenario P/S Value Implied Price Upside/Downside
Current Multiple 12.4 ฿12.2
0%
3-Year Average 7.4 ฿7.24
-41%
5-Year Average 7.4 ฿7.24
-41%
Industry Average 2.2 ฿2.18
-82%
Country Average 1.3 ฿1.32
-89%

Forward P/S
Today’s price vs future revenue

Today's Market Cap Revenue Forward P/S
฿9B
/
Jan 2026
฿720.4m
=
12.4
Current
฿9B
/
Dec 2026
฿931.1m
=
9.7
Forward
฿9B
/
Dec 2027
฿950.4m
=
9.5
Forward
฿9B
/
Dec 2028
฿962.5m
=
9.4
Forward

Forward P/S shows whether today’s P/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
P/S
P/E
All Countries
Close
P/S Multiple
Revenue Growth P/S to Growth
TH
I
INET Leasehold Real Estate Investment
SET:INETREIT
Average P/S: 77.1
12.4
10%
1.2
US
G
GE Vernova LLC
NYSE:GEV
Not Available
15%
N/A
UK
E
Eight Capital Partners PLC
F:ECS
Not Available N/A N/A
US
C
China Industrial Group Inc
OTC:CIND
351.6
N/A N/A
NL
N
Nepi Rockcastle NV
JSE:NRP
5.6
-3%
N/A
US
F
Fintech Ecosystem Development Corp
NASDAQ:FEXD
Not Available N/A N/A
US
C
CoreWeave Inc
NASDAQ:CRWV
Not Available
88%
N/A
CH
G
Galderma Group AG
SIX:GALD
Not Available
18%
N/A
US
Coupang Inc
F:788
1.1
12%
0.1
US
Symbotic Inc
NASDAQ:SYM
15
26%
0.6
US
Q
Qnity Electronics Inc
NYSE:Q
Not Available
6%
N/A
P/E Multiple
Earnings Growth PEG
TH
I
INET Leasehold Real Estate Investment
SET:INETREIT
Average P/E: 8 536.2
16.6
14%
1.2
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
10.5
1%
10.5
US
F
Fintech Ecosystem Development Corp
NASDAQ:FEXD
38 458.7
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
174.4
96%
1.8
US
Symbotic Inc
NASDAQ:SYM
Negative Multiple: -3 291.8 N/A N/A
US
Q
Qnity Electronics Inc
NYSE:Q
Not Available
15%
N/A

Market Distribution

Higher than 96% of companies in Thailand
Percentile
96th
Based on 423 companies
96th percentile
12.4
Low
0 — 0.7
Typical Range
0.7 — 2.2
High
2.2 —
Distribution Statistics
Thailand
Min 0
30th Percentile 0.7
Median 1.3
70th Percentile 2.2
Max 268

INET Leasehold Real Estate Investment
Glance View

Market Cap
9B THB
Industry
N/A

INET Leasehold Real Estate Investment Trust is a trust, which engages in real estate business. The company is headquartered in Bangkok, Bangkok Metropolis. The company went IPO on 2021-08-09. The Trust’s objectives are to mobilize funds raised from general investors and from loan from financial institution for initial investment in INET Data Center 3 Phase I (INET-IDC3 Phase I) in the form of ownership of buildings and equipment related to the operations of the data center. INET-IDC3 Phase I is located in Kaeng Khoi, Saraburi on leased land with a long-term lease. The Trust is managed by INET REIT Management Co., Ltd. (the trust manager) and Kasikorn Asset Management Company Limited is the trustee.

INETREIT Intrinsic Value
11.92 THB
Overvaluation 2%
Intrinsic Value
Price ฿12.2
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