As of 2025-05-19, the Intrinsic Value of Thai Beverage PCL (Y92.SI) is 0.68 SGD. This Y92.SI valuation is based on the model Discounted Cash Flows (Growth Exit 5Y). With the current market price of 0.47 SGD, the upside of Thai Beverage PCL is 42.5%.

The range of the Intrinsic Value is 0.39 - 1.36 SGD.

Is Y92.SI undervalued or overvalued?

Based on its market price of 0.47 SGD and our intrinsic valuation, Thai Beverage PCL (Y92.SI) is undervalued by 42.5%.

0.47 SGD

Stock Price

0.68 SGD

Intrinsic Value

Intrinsic Value Details

Y92.SI Intrinsic Value - Valuation Summary

	Range	Selected	Upside
a
DCF (Growth Exit 5Y)	0.39 - 1.36	0.68	42.5%
DCF (Growth Exit 10Y)	0.44 - 1.41	0.73	53.5%
DCF (EBITDA Exit 5Y)	0.49 - 0.77	0.65	37.8%
DCF (EBITDA Exit 10Y)	0.51 - 0.91	0.71	50.3%
Peter Lynch Fair Value	0.52 - 0.52	0.52	9.99%
P/E Multiples	0.48 - 2.1	1.20	153.4%
EV/EBITDA Multiples	0.37 - 1.1	0.75	58.9%
Earnings Power Value	0.33 - 0.95	0.64	34.9%
Dividend Discount Model - Stable	0.4 - 1.41	0.91	90.6%
Dividend Discount Model - Multi Stages	0.32 - 0.93	0.48	1.0%

Y92.SI Intrinsic Value - Peers Comparison

	Range	Selected	Upside
a
Kuaijishan Shaoxing Rice Wine Co Ltd	7.5 - 13.9	9.56	-35.3%
Tilaknagar Industries Ltd	148.14 - 224.25	177.71	-49.8%
Sermsuk PCL	62.52 - 258.46	96.14	92.3%
Globus Spirits Ltd	641.72 - 964.92	771.46	-29.0%
Abrau-Durso PAO	4.1 - 31.75	15.87	-94.6%
Delegat Group Ltd	1.67 - 10.15	4.05	3.0%
Haad Thip PCL	15.6 - 26.67	19.76	26.6%
Muhak Co Ltd	3,591.45 - 17,770.04	6,555.47	-9.6%
Jinro Distillers Co Ltd	18,465.44 - 44,381.85	25,613.44	40.9%
PungkukAlcholnd	10,593.16 - 16,981.04	12,951.19	43.3%

Y92.SI Intrinsic Value - Key Valuation Metrics

Market Cap (mil)	11,937
Beta	0.49
Outstanding shares (mil)	25,130
Enterprise Value (mil)	20,761

Market risk premium	5.6%
Cost of Equity	9.25%
Cost of Debt	4.25%
WACC	6.7%