MX Relative Valuation - Methanex Corp

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Price: 77.51 CAD 6.73% Market Closed

Market Cap: CA$6B

	Methanex Corp TSX:MX	CA
	Sumco Corp TSE:3436	JP

Relative Value

The Relative Value of one MX stock under the Base Case scenario is 90.73 CAD. Compared to the current market price of 77.51 CAD, Methanex Corp is Undervalued by 15%.

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?

MX Relative Value

Base Case

Undervaluation 15%

Relative Value

Price

Worst Case

Base Case

Best Case

Valuation Multiples

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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
CA	Methanex Corp TSX:MX	6B CAD	1.3	59	8.4	16.5
SA	Saudi Basic Industries Corporation SJSC SAU:2010	228.3B SAR	1.6	-33.9	11.5	68.3
ID	Chandra Asri Pacific PT Tbk OTC:PTPIF	45.6B USD	8.1	25.7	189.4	189.4
US	Dow Inc NYSE:DOW	26.3B USD	0.7	-10	13.1	165.6
ID	Chandra Asri Petrochemical Tbk PT IDX:TPIA	443.3T IDR	4.7	14.9	111.1	111.1
UK	LyondellBasell Industries NV NYSE:LYB	23.6B USD	0.8	-31.4	14.7	39.2
CN	Hengli Petrochemical Co Ltd SSE:600346	145.7B CNY	0.7	20.9	19.6	19.6
TW	Nan Ya Plastics Corp TWSE:1303	621.8B TWD	2.4	137.6	26.3	186.5
KR	LG Chem Ltd KRX:051910	24.3T KRW	0.5	-13.3	6	32.8
CN	Rongsheng Petrochemical Co Ltd SZSE:002493	108.3B CNY	0.4	147	28.4	28.4
CN	Zhejiang Juhua Co Ltd SSE:600160	95.6B CNY	3.5	24.2	19.1	19.1

			Revenue Growth	P/S to Growth
CA	Methanex Corp TSX:MX	Average P/S: 2.2 1.3	N/A	N/A
SA	Saudi Basic Industries Corporation SJSC SAU:2010	1.6	-1%	N/A
ID	Chandra Asri Pacific PT Tbk OTC:PTPIF	8.1	57%	0.1
US	Dow Inc NYSE:DOW	0.7	2%	0.3
ID	Chandra Asri Petrochemical Tbk PT IDX:TPIA	4.7	57%	0.1
UK	LyondellBasell Industries NV NYSE:LYB	0.8	1%	0.8
CN	Hengli Petrochemical Co Ltd SSE:600346	0.7	1%	0.7
TW	Nan Ya Plastics Corp TWSE:1303	2.4	9%	0.3
KR	LG Chem Ltd KRX:051910	0.5	13%	0
CN	Rongsheng Petrochemical Co Ltd SZSE:002493	0.4	1%	0.4
CN	Zhejiang Juhua Co Ltd SSE:600160	3.5	13%	0.3

			Earnings Growth	PEG
CA	Methanex Corp TSX:MX	Average P/E: 61.3 59	N/A	N/A
SA	Saudi Basic Industries Corporation SJSC SAU:2010	Negative Multiple: -33.9	71%	N/A
ID	Chandra Asri Pacific PT Tbk OTC:PTPIF	25.7	N/A	N/A
US	Dow Inc NYSE:DOW	Negative Multiple: -10	N/A	N/A
ID	Chandra Asri Petrochemical Tbk PT IDX:TPIA	14.9	N/A	N/A
UK	LyondellBasell Industries NV NYSE:LYB	Negative Multiple: -31.4	N/A	N/A
CN	Hengli Petrochemical Co Ltd SSE:600346	20.9	17%	1.2
TW	Nan Ya Plastics Corp TWSE:1303	137.6	99%	1.4
KR	LG Chem Ltd KRX:051910	Negative Multiple: -13.3	N/A	N/A
CN	Rongsheng Petrochemical Co Ltd SZSE:002493	147	82%	1.8
CN	Zhejiang Juhua Co Ltd SSE:600160	24.2	46%	0.5

			EBITDA Growth	EV/EBITDA to Growth
CA	Methanex Corp TSX:MX	Average EV/EBITDA: 40.7 8.4	N/A	N/A
SA	Saudi Basic Industries Corporation SJSC SAU:2010	11.5	10%	1.2
ID	Chandra Asri Pacific PT Tbk OTC:PTPIF	189.4	N/A	N/A
US	Dow Inc NYSE:DOW	13.1	19%	0.7
ID	Chandra Asri Petrochemical Tbk PT IDX:TPIA	111.1	N/A	N/A
UK	LyondellBasell Industries NV NYSE:LYB	14.7	20%	0.7
CN	Hengli Petrochemical Co Ltd SSE:600346	19.6	32%	0.6
TW	Nan Ya Plastics Corp TWSE:1303	26.3	23%	1.1
KR	LG Chem Ltd KRX:051910	6	25%	0.2
CN	Rongsheng Petrochemical Co Ltd SZSE:002493	28.4	70%	0.4
CN	Zhejiang Juhua Co Ltd SSE:600160	19.1	63%	0.3

			EBIT Growth	EV/EBIT to Growth
CA	Methanex Corp TSX:MX	Average EV/EBIT: 79.7 16.5	4%	4.1
SA	Saudi Basic Industries Corporation SJSC SAU:2010	68.3	27%	2.5
ID	Chandra Asri Pacific PT Tbk OTC:PTPIF	189.4	N/A	N/A
US	Dow Inc NYSE:DOW	165.6	111%	1.5
ID	Chandra Asri Petrochemical Tbk PT IDX:TPIA	111.1	N/A	N/A
UK	LyondellBasell Industries NV NYSE:LYB	39.2	44%	0.9
CN	Hengli Petrochemical Co Ltd SSE:600346	19.6	14%	1.4
TW	Nan Ya Plastics Corp TWSE:1303	186.5	113%	1.7
KR	LG Chem Ltd KRX:051910	32.8	92%	0.4
CN	Rongsheng Petrochemical Co Ltd SZSE:002493	28.4	20%	1.4
CN	Zhejiang Juhua Co Ltd SSE:600160	19.1	35%	0.5

Methanex Corp
TSX:MX

Relative Value

Valuation Multiples

Multiples Across Competitors

MX Competitors Multiples
Methanex Corp Competitors

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Methanex Corp TSX:MX

Relative Value

Valuation Multiples

Multiples Across Competitors

MX Competitors Multiples Methanex Corp Competitors

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Stocks

Methanex Corp
TSX:MX

MX Competitors Multiples
Methanex Corp Competitors