IRPC Public Company Limited

SET:IRPC Stock Report

Market Cap: ฿24.1b

IRPC Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: IRPC (THB1.2) is trading below our estimate of future cash flow value (THB1.21)

Significantly Below Future Cash Flow Value: IRPC is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for IRPC. This is calculated by dividing IRPC's market cap by their current revenue.
What is IRPC's PS Ratio?
PS Ratio0.09x
Sales฿279.98b
Market Cap฿24.08b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for IRPC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.2x
SPRC Star Petroleum Refining
0.1x5.51%฿31.0b
BCP Bangchak Corporation
0.1x2.82%฿52.9b
TOP Thai Oil
0.3x10.65%฿111.1b
BBGI BBGI
0.3x-0.67%฿4.4b
IRPC IRPC
0.09x1.24%฿24.1b

Price-To-Sales vs Peers: IRPC is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.2x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

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

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.0.3x4.3%
IRPC IRPC
 0.09x1.24%US$757.00m
BSRC Bangchak Sriracha
0.05x0.33%US$305.37m
SUSCO Susco
0.06x1.25%US$62.11m
IRPC 0.1xIndustry Avg. 0.3xNo. of Companies6PS00.40.81.21.62+
4 CompaniesEstimated GrowthMarket Cap
Industry Avg.0.3x9.3%
IRPC IRPC
 0.09x102.20%US$757.00m
No more companies

Price-To-Sales vs Industry: IRPC is good value based on its Price-To-Sales Ratio (0.1x) compared to the TH Oil and Gas industry average (0.3x).

Price to Sales Ratio vs Fair Ratio

What is IRPC'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.

IRPC PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.09x
Fair PS Ratio0.2x

Price-To-Sales vs Fair Ratio: IRPC 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 IRPC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿1.20
฿1.15
-3.78%
31.38%฿2.20฿0.75n/a13
Feb ’27฿1.16
฿0.96
-17.36%
16.52%฿1.20฿0.75n/a14
Jan ’27฿0.99
฿0.94
-4.91%
16.43%฿1.20฿0.75n/a14
Dec ’26฿1.00
฿0.94
-5.86%
16.43%฿1.20฿0.75n/a14
Nov ’26฿1.15
฿0.93
-19.07%
16.28%฿1.20฿0.75n/a14
Oct ’26฿1.14
฿0.93
-18.25%
18.86%฿1.25฿0.67n/a15
Sep ’26฿1.07
฿0.92
-13.71%
19.89%฿1.25฿0.67n/a15
Aug ’26฿0.99
฿0.92
-7.34%
18.99%฿1.25฿0.68n/a15
Jul ’26฿0.76
฿0.91
+19.56%
19.91%฿1.25฿0.68n/a15
Jun ’26฿0.82
฿0.91
+10.81%
19.91%฿1.25฿0.68n/a15
May ’26฿0.87
฿0.97
+11.49%
21.05%฿1.25฿0.70n/a15
Apr ’26฿0.91
฿1.04
+14.80%
16.95%฿1.25฿0.70n/a15
Mar ’26฿0.85
฿1.08
+27.06%
17.27%฿1.54฿0.71฿1.4215
Feb ’26฿1.13
฿1.28
+12.83%
16.99%฿1.54฿0.71฿1.1614
Jan ’26฿1.23
฿1.45
+18.10%
19.39%฿2.10฿1.10฿0.9915
Dec ’25฿1.38
฿1.47
+6.57%
19.25%฿2.10฿1.10฿1.0014
Nov ’25฿1.52
฿1.58
+3.95%
18.19%฿2.10฿1.15฿1.1513
Oct ’25฿1.75
฿1.68
-4.08%
19.75%฿2.10฿1.15฿1.1414
Sep ’25฿1.43
฿1.69
+17.95%
19.44%฿2.10฿1.15฿1.0715
Aug ’25฿1.48
฿1.82
+23.20%
13.54%฿2.20฿1.40฿0.9915
Jul ’25฿1.64
฿1.88
+14.90%
13.97%฿2.20฿1.40฿0.7616
Jun ’25฿1.90
฿1.92
+1.15%
12.10%฿2.20฿1.50฿0.8216
May ’25฿1.97
฿1.90
-3.37%
12.42%฿2.20฿1.50฿0.8714
Apr ’25฿1.91
฿1.95
+1.91%
14.09%฿2.40฿1.50฿0.9114
Mar ’25฿1.92
฿1.95
+1.38%
14.09%฿2.40฿1.50฿0.8514
฿1.15
Fair Value
3.9% overvalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/06 11:28
End of Day Share Price 2026/03/06 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

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

IRPC Public Company Limited is covered by 27 analysts. 11 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
Komsun SuksumrunBofA Global Research
Suppata SrisukBualuang Securities PCL