ADN Relative Valuation - First Sponsor Group Ltd

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Price: 1.05 SGD 2.94%

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 1.05 SGD, First Sponsor Group Ltd is Undervalued by 29%.

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 29%

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	4	11.8	23.3	29.1
HK		China Resources Land Ltd HKEX:1109	230.3B HKD	0.7	7.5	5.9	5.9
HK		CK Asset Holdings Ltd HKEX:1113	160.4B HKD	3.3	14.1	20.3	20.3
HK		China Overseas Land & Investment Ltd HKEX:688	161.8B HKD	0.8	10.3	11.9	11.9
HK		Henderson Land Development Co Ltd HKEX:12	157B HKD	6.8	25.9	82	82
VN	V	Vinhomes JSC VN:VHM	395.1T VND	2.6	9.6	11.9	12.6
HK		Sino Land Co Ltd HKEX:83	110.8B HKD	13.9	28.3	20.8	22
CN		China Merchants Shekou Industrial Zone Holdings Co Ltd SZSE:001979	96.3B CNY	0.5	27.1	17.4	17.4
CN		Poly Developments and Holdings Group Co Ltd SSE:600048	83.6B CNY	0.3	-86.8	19.1	19.1
IN		Macrotech Developers Ltd NSE:LODHA	1T INR	7.3	35.5	23.7	25.4
CN		Longfor Group Holdings Ltd HKEX:960	71.8B HKD	0.5	8.3	16.9	17.1

				Revenue Growth	P/S to Growth
SG		First Sponsor Group Ltd SGX:ADN	Average P/S: 3.7 4	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		China Overseas Land & Investment Ltd HKEX:688	0.8	0%	N/A
HK		Henderson Land Development Co Ltd HKEX:12	6.8	3%	2.3
VN	V	Vinhomes JSC VN:VHM	2.6	N/A	N/A
HK		Sino Land Co Ltd HKEX:83	13.9	1%	13.9
CN		China Merchants Shekou Industrial Zone Holdings Co Ltd SZSE:001979	0.5	-3%	N/A
CN		Poly Developments and Holdings Group Co Ltd SSE:600048	0.3	-5%	N/A
IN		Macrotech Developers Ltd NSE:LODHA	7.3	21%	0.3
CN		Longfor Group Holdings Ltd HKEX:960	0.5	-9%	N/A

				Earnings Growth	PEG
SG		First Sponsor Group Ltd SGX:ADN	Average P/E: 17.9 11.8	N/A	N/A
HK		China Resources Land Ltd HKEX:1109	7.5	2%	3.8
HK		CK Asset Holdings Ltd HKEX:1113	14.1	1%	14.1
HK		China Overseas Land & Investment Ltd HKEX:688	10.3	3%	3.4
HK		Henderson Land Development Co Ltd HKEX:12	25.9	21%	1.2
VN	V	Vinhomes JSC VN:VHM	9.6	N/A	N/A
HK		Sino Land Co Ltd HKEX:83	28.3	9%	3.1
CN		China Merchants Shekou Industrial Zone Holdings Co Ltd SZSE:001979	27.1	13%	2.1
CN		Poly Developments and Holdings Group Co Ltd SSE:600048	Negative Multiple: -86.8	2%	N/A
IN		Macrotech Developers Ltd NSE:LODHA	35.5	24%	1.5
CN		Longfor Group Holdings Ltd HKEX:960	8.3	-15%	N/A

				EBITDA Growth	EV/EBITDA to Growth
SG		First Sponsor Group Ltd SGX:ADN	Average EV/EBITDA: 23 23.3	N/A	N/A
HK		China Resources Land Ltd HKEX:1109	5.9	4%	1.5
HK		CK Asset Holdings Ltd HKEX:1113	20.3	16%	1.3
HK		China Overseas Land & Investment Ltd HKEX:688	11.9	3%	4
HK		Henderson Land Development Co Ltd HKEX:12	82	28%	2.9
VN	V	Vinhomes JSC VN:VHM	11.9	N/A	N/A
HK		Sino Land Co Ltd HKEX:83	20.8	6%	3.5
CN		China Merchants Shekou Industrial Zone Holdings Co Ltd SZSE:001979	17.4	26%	0.7
CN		Poly Developments and Holdings Group Co Ltd SSE:600048	19.1	7%	2.7
IN		Macrotech Developers Ltd NSE:LODHA	23.7	21%	1.1
CN		Longfor Group Holdings Ltd HKEX:960	16.9	0%	N/A

				EBIT Growth	EV/EBIT to Growth
SG		First Sponsor Group Ltd SGX:ADN	Average EV/EBIT: 23.9 29.1	N/A	N/A
HK		China Resources Land Ltd HKEX:1109	5.9	3%	2
HK		CK Asset Holdings Ltd HKEX:1113	20.3	20%	1
HK		China Overseas Land & Investment Ltd HKEX:688	11.9	2%	5.9
HK		Henderson Land Development Co Ltd HKEX:12	82	31%	2.6
VN	V	Vinhomes JSC VN:VHM	12.6	N/A	N/A
HK		Sino Land Co Ltd HKEX:83	22	6%	3.7
CN		China Merchants Shekou Industrial Zone Holdings Co Ltd SZSE:001979	17.4	18%	1
CN		Poly Developments and Holdings Group Co Ltd SSE:600048	19.1	4%	4.8
IN		Macrotech Developers Ltd NSE:LODHA	25.4	31%	0.8
CN		Longfor Group Holdings Ltd HKEX:960	17.1	-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