ADN Relative Valuation - First Sponsor Group Ltd

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Price: 1.03 SGD 0.98% Market Closed

Market Cap: S$1.2B

Relative Value

The Relative Value of one ADN stock under the Base Case scenario is 1.48 SGD. Compared to the current market price of 1.03 SGD, First Sponsor Group Ltd is Undervalued by 31%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is Relative Valuation?

How is Relative Value calculated?

ADN Relative Value

Base Case

Undervaluation 31%

Relative Value

Price

Worst Case

Base Case

Best Case

Valuation Multiples

View Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
SG		First Sponsor Group Ltd SGX:ADN	1.2B SGD	3.9	11.6	23	28.8
HK		China Resources Land Ltd HKEX:1109	221.8B HKD	0.7	7.2	5.8	5.8
HK		CK Asset Holdings Ltd HKEX:1113	163.8B HKD	3.3	14.4	20.6	20.6
HK		Henderson Land Development Co Ltd HKEX:12	156.6B HKD	6.8	25.9	81.9	81.9
HK		China Overseas Land & Investment Ltd HKEX:688	156.3B HKD	0.8	10	11.6	11.6
VN	V	Vinhomes JSC VN:VHM	442T VND	2.9	10.8	13.1	13.9
HK		Sino Land Co Ltd HKEX:83	114.6B HKD	14.1	28.7	21.3	22.5
CN		China Merchants Shekou Industrial Zone Holdings Co Ltd SZSE:001979	94.2B CNY	0.5	26.5	17.2	17.2
IN		Macrotech Developers Ltd NSE:LODHA	1.1T INR	7.4	36.2	24.2	25.9
CN		Poly Developments and Holdings Group Co Ltd SSE:600048	81B CNY	0.3	-84.2	18.9	18.9
CN		Longfor Group Holdings Ltd HKEX:960	69.9B HKD	0.4	8	16.8	16.9

				Revenue Growth	P/S to Growth
SG		First Sponsor Group Ltd SGX:ADN	Average P/S: 3.7 3.9	N/A	N/A
HK		China Resources Land Ltd HKEX:1109	0.7	1%	0.7
HK		CK Asset Holdings Ltd HKEX:1113	3.3	15%	0.2
HK		Henderson Land Development Co Ltd HKEX:12	6.8	3%	2.3
HK		China Overseas Land & Investment Ltd HKEX:688	0.8	0%	N/A
VN	V	Vinhomes JSC VN:VHM	2.9	N/A	N/A
HK		Sino Land Co Ltd HKEX:83	14.1	1%	14.1
CN		China Merchants Shekou Industrial Zone Holdings Co Ltd SZSE:001979	0.5	-3%	N/A
IN		Macrotech Developers Ltd NSE:LODHA	7.4	21%	0.4
CN		Poly Developments and Holdings Group Co Ltd SSE:600048	0.3	-5%	N/A
CN		Longfor Group Holdings Ltd HKEX:960	0.4	-9%	N/A

				Earnings Growth	PEG
SG		First Sponsor Group Ltd SGX:ADN	Average P/E: 17.9 11.6	N/A	N/A
HK		China Resources Land Ltd HKEX:1109	7.2	2%	3.6
HK		CK Asset Holdings Ltd HKEX:1113	14.4	1%	14.4
HK		Henderson Land Development Co Ltd HKEX:12	25.9	21%	1.2
HK		China Overseas Land & Investment Ltd HKEX:688	10	3%	3.3
VN	V	Vinhomes JSC VN:VHM	10.8	N/A	N/A
HK		Sino Land Co Ltd HKEX:83	28.7	9%	3.2
CN		China Merchants Shekou Industrial Zone Holdings Co Ltd SZSE:001979	26.5	13%	2
IN		Macrotech Developers Ltd NSE:LODHA	36.2	24%	1.5
CN		Poly Developments and Holdings Group Co Ltd SSE:600048	Negative Multiple: -84.2	2%	N/A
CN		Longfor Group Holdings Ltd HKEX:960	8	-15%	N/A

				EBITDA Growth	EV/EBITDA to Growth
SG		First Sponsor Group Ltd SGX:ADN	Average EV/EBITDA: 23.1 23	N/A	N/A
HK		China Resources Land Ltd HKEX:1109	5.8	4%	1.4
HK		CK Asset Holdings Ltd HKEX:1113	20.6	16%	1.3
HK		Henderson Land Development Co Ltd HKEX:12	81.9	28%	2.9
HK		China Overseas Land & Investment Ltd HKEX:688	11.6	3%	3.9
VN	V	Vinhomes JSC VN:VHM	13.1	N/A	N/A
HK		Sino Land Co Ltd HKEX:83	21.3	6%	3.6
CN		China Merchants Shekou Industrial Zone Holdings Co Ltd SZSE:001979	17.2	26%	0.7
IN		Macrotech Developers Ltd NSE:LODHA	24.2	21%	1.2
CN		Poly Developments and Holdings Group Co Ltd SSE:600048	18.9	7%	2.7
CN		Longfor Group Holdings Ltd HKEX:960	16.8	0%	N/A

				EBIT Growth	EV/EBIT to Growth
SG		First Sponsor Group Ltd SGX:ADN	Average EV/EBIT: 24 28.8	N/A	N/A
HK		China Resources Land Ltd HKEX:1109	5.8	3%	1.9
HK		CK Asset Holdings Ltd HKEX:1113	20.6	20%	1
HK		Henderson Land Development Co Ltd HKEX:12	81.9	31%	2.6
HK		China Overseas Land & Investment Ltd HKEX:688	11.6	2%	5.8
VN	V	Vinhomes JSC VN:VHM	13.9	N/A	N/A
HK		Sino Land Co Ltd HKEX:83	22.5	6%	3.7
CN		China Merchants Shekou Industrial Zone Holdings Co Ltd SZSE:001979	17.2	18%	1
IN		Macrotech Developers Ltd NSE:LODHA	25.9	31%	0.8
CN		Poly Developments and Holdings Group Co Ltd SSE:600048	18.9	4%	4.7
CN		Longfor Group Holdings Ltd HKEX:960	16.9	-2%	N/A

First Sponsor Group Ltd
SGX:ADN

Relative Value

Valuation Multiples

Multiples Across Competitors

ADN Competitors Multiples
First Sponsor Group Ltd Competitors

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Stocks

First Sponsor Group Ltd SGX:ADN

Relative Value

Valuation Multiples

Multiples Across Competitors

ADN Competitors Multiples First Sponsor Group Ltd Competitors

See Also

Company

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Stocks

First Sponsor Group Ltd
SGX:ADN

ADN Competitors Multiples
First Sponsor Group Ltd Competitors