Goldsun Building Materials Co., Ltd. (2504.TW)

Industry: Construction Materials Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
0743.HK	83	Asia Cement (China	808	13.19	20.84	2.74	3.63	7.38	13.44
600819.SS	84	Shanghai Yaohua Pi	789	46.04	48.38	23.10	26.12	41.91	37.50
004980.KS	85	Sungshin Cement Co	761	10.33	8.75	5.61	5.02	7.29	35.46
JHDA.L	86	James Halstead Plc	748	3.62	3.62	2.01	2.01	2.37	2.35
000789.SZ	87	Jiangxi Wannianqin	745	321.88	821.79	7.16	11.17	-	42.40
000672.SZ	88	Gansu Shangfeng Ce	742	14.22	17.80	9.25	10.68	22.54	24.11
JKLAKSHMI.BO	89	JK Lakshmi Cement	738	22.46	20.33	11.22	10.61	24.49	15.83
2504.TW	90	Goldsun Building M	714	11.15	10.05	9.14	8.09	9.92	8.64
183190.KS	91	Asia Cement Co.,Lt	707	9.94	8.28	5.23	4.86	13.96	11.02
SMCB.JK	92	PT Solusi Bangun I	654	8.77	8.78	5.36	5.48	6.56	7.23
P52.SI	93	Pan-United Corpora	643	13.92	9.56	7.46	6.23	4.38	3.09
JSWCEMENT.BO	94	Jsw Cement Ltd.	627	-	-	-	-	27.51	30.59
002233.SZ	95	Guangdong Tapai Gr	605	13.74	16.84	10.76	13.65	28.39	13.82
WGN.AX	96	Wagners Holding Co	603	13.33	13.33	5.67	5.67	4.38	5.94
000480.KS	97	CR Holdings Co., L	572	-	-	7.82	8.32	7.89	30.16
600425.SS	98	Xinjiang Qingsong	555	27.22	26.50	12.68	10.13	8.55	14.76

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	13.33	13.33	6.42	5.95	7.64	13.82
Full Range Median Multiple	13.74	16.84	7.31	7.28	8.22	14.76
Industry Multiple	39.90	78.83	8.29	8.83	14.83	19.18
Market Implied Multiple	11.55	10.41	9.40	8.32	10.20	8.89
Company (2504.TW) Multiple	11.15	10.05	9.14	8.09	9.92	8.64
(*) Net Income / EBITDA / Revenue	122	135	185	209	171	196
Winsorized Enterprise Value	N/A	N/A	1,189	1,246	1,304	2,707
Full Range Median Enterprise Value	N/A	N/A	1,354	1,523	1,404	2,891
(-) Net Debt	336	336	336	336	336	336
Winsorized Equity Value	1,623	1,800	853	909	967	2,370
Full Range Median Equity Value	1,673	2,273	1,018	1,187	1,067	2,555
(/) Shares Outstanding	37	37	37	37	37	37
Winsorized Fair Value	$43.48	$48.20	$22.84	$24.36	$25.91	$63.49
Full Range Median Fair Value	$44.81	$60.88	$27.26	$31.79	$28.58	$68.43
Current Price	$37.65	$37.65	$37.65	$37.65	$37.65	$37.65
Upside / Downside	15.48%	28.03%	-39.35%	-35.30%	-31.19%	68.64%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$30.43	$33.74	$15.99	$17.05	$18.14	$44.44
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	BUY