Bangchak Corporation Public Company Limited

SET:BCP Stock Report

Market Cap: ฿41.7b

Bangchak Corporation Valuation

Is BCP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BCP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

฿110.65
Fair Value
72.7% undervalued intrinsic discount
13
Number of Analysts

Below Fair Value: BCP (THB30.25) is trading below our estimate of fair value (THB110.64)

Significantly Below Fair Value: BCP is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BCP?

Key metric: As BCP is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BCP. This is calculated by dividing BCP's market cap by their current revenue.
What is BCP's PS Ratio?
PS Ratio0.07x
Sales฿556.91b
Market Cap฿41.65b

Price to Sales Ratio vs Peers

How does BCP's PS Ratio compare to its peers?

The above table shows the PS ratio for BCP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.1x
IRPC IRPC
0.08x-0.15%฿23.7b
SPRC Star Petroleum Refining
0.08x1.24%฿20.3b
TOP Thai Oil
0.2x5.03%฿77.6b
BSRC Bangchak Sriracha
0.07x-0.13%฿15.4b
BCP Bangchak Corporation
0.07x-3.30%฿41.7b

Price-To-Sales vs Peers: BCP is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.1x).

Price to Sales Ratio vs Industry

How does BCP's PS Ratio compare vs other companies in the TH Oil and Gas Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.0.2x1.2%
BCP Bangchak Corporation
 0.07x-3.30%US$1.28b
IRPC IRPC
0.08x-0.15%US$727.10m
SPRC Star Petroleum Refining
0.08x1.24%US$623.17m
BCP 0.1xIndustry Avg. 0.2xNo. of Companies6PS00.40.81.21.62+
6 CompaniesEstimated GrowthMarket Cap
Industry Avg.0.2x13.7%
BCP Bangchak Corporation
 0.07x61.34%US$1.28b
No more companies

Price-To-Sales vs Industry: BCP is good value based on its Price-To-Sales Ratio (0.1x) compared to the TH Oil and Gas industry average (0.2x).

Price to Sales Ratio vs Fair Ratio

What is BCP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BCP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.07x
Fair PS Ratio0.2x

Price-To-Sales vs Fair Ratio: BCP is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BCP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿30.25
฿40.82
+34.93%
11.90%฿48.00฿32.00n/a13
Oct ’26฿30.50
฿40.82
+33.82%
11.90%฿48.00฿32.00n/a13
Sep ’26฿32.50
฿40.82
+25.59%
11.90%฿48.00฿32.00n/a13
Aug ’26฿33.75
฿40.51
+20.02%
11.41%฿48.00฿32.00n/a13
Jul ’26฿30.75
฿39.78
+29.36%
14.27%฿48.00฿29.00n/a13
Jun ’26฿36.25
฿40.22
+10.96%
14.17%฿48.00฿29.00n/a14
May ’26฿35.75
฿40.88
+14.36%
16.24%฿55.00฿29.00n/a13
Apr ’26฿38.25
฿41.54
+8.60%
13.96%฿55.00฿32.00n/a13
Mar ’26฿38.50
฿41.08
+6.69%
16.33%฿55.00฿30.00n/a13
Feb ’26฿34.50
฿42.54
+23.31%
15.00%฿55.00฿32.00n/a12
Jan ’26฿36.00
฿43.13
+19.79%
17.81%฿62.00฿32.00n/a12
Dec ’25฿30.75
฿44.73
+45.45%
15.69%฿62.00฿32.00n/a11
Nov ’25฿33.75
฿46.50
+37.78%
15.54%฿62.00฿32.00n/a11
Oct ’25฿37.25
฿47.75
+28.19%
12.08%฿62.00฿40.00฿30.5010
Sep ’25฿37.25
฿48.21
+29.42%
11.26%฿62.00฿40.00฿32.5012
Aug ’25฿33.50
฿49.59
+48.03%
8.59%฿58.00฿44.00฿33.7511
Jul ’25฿38.00
฿51.10
+34.47%
7.35%฿58.00฿44.00฿30.7510
Jun ’25฿38.25
฿50.34
+31.60%
8.58%฿58.00฿42.70฿36.2511
May ’25฿42.00
฿49.87
+18.74%
8.53%฿58.00฿42.70฿35.7510
Apr ’25฿44.25
฿49.27
+11.34%
9.08%฿58.00฿42.70฿38.2510
Mar ’25฿42.00
฿48.57
+15.64%
9.61%฿59.00฿42.70฿38.5010
Feb ’25฿41.75
฿47.84
+14.58%
10.66%฿59.00฿42.70฿34.508
Jan ’25฿43.50
฿46.74
+7.46%
12.23%฿59.00฿38.00฿36.009
Dec ’24฿43.75
฿46.97
+7.35%
12.42%฿59.00฿38.00฿30.759
Nov ’24฿38.75
฿44.86
+15.76%
10.62%฿52.00฿37.00฿33.759
Oct ’24฿41.00
฿44.19
+7.78%
10.30%฿52.00฿37.00฿37.259
฿40.82
Fair Value
25.9% undervalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/09 11:37
End of Day Share Price 2025/10/09 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Bangchak Corporation Public Company Limited is covered by 35 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nalinrat KittikumpolratAsia Plus Securities Company Limited
Chutima WoramontriBNP Paribas Securities (Asia)
Somkij OranchatchawanBNP Paribas Securities (Asia)