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TISCO Financial Group

DB:47TA
Snowflake Description

6 star dividend payer with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
47TA
DB
฿69B
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

TISCO Financial Group Public Company Limited provides commercial banking products and services for individuals and businesses in Thailand. The last earnings update was 33 days ago. More info.


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47TA Share Price and Events
7 Day Returns
0%
DB:47TA
-0.4%
DE Banks
0.3%
DE Market
1 Year Returns
5.8%
DB:47TA
-25.7%
DE Banks
-11.6%
DE Market
47TA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TISCO Financial Group (47TA) 0% -7% 0% 5.8% 127.1% 182.7%
DE Banks -0.4% -7.4% 6% -25.7% -5.3% -26.9%
DE Market 0.3% -3.8% 2.5% -11.6% 10.1% 7.9%
1 Year Return vs Industry and Market
  • 47TA outperformed the Banks industry which returned -25.7% over the past year.
  • 47TA outperformed the Market in Germany which returned -11.6% over the past year.
Price Volatility
47TA
Industry
5yr Volatility vs Market
Related Companies

Value

 Is TISCO Financial Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of TISCO Financial Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for TISCO Financial Group.

DB:47TA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 15 analysts.
= Stable Book Value * Return on Equity
= ฿53.77 * 18.5%
฿9.94
Book Value of Equity per Share Weighted future Book Value estimates from 15 analysts. ฿53.77
Discount Rate (Cost of Equity) See below 5.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:47TA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.586 (1 + (1- 20%) (64.96%))
0.927
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.927 * 5.96%)
5.75%

Discounted Cash Flow Calculation for DB:47TA using Excess Returns Model Model

The calculations below outline how an intrinsic value for TISCO Financial Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:47TA Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (18.5% – 5.75%) * ฿53.77)
฿6.85
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ฿6.85 / (5.75% - 0.23%)
฿124.02
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ฿53.77 + ฿124.02
฿177.79
DB:47TA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:47TA represents 0.02776x of SET:TISCO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.02776x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (THB) x Listing Adjustment Factor
= ฿ 177.79 x 0.02776
€4.93
Value per share (EUR) From above. €4.93
Current discount Discount to share price of €2.38
= -1 x (€2.38 - €4.93) / €4.93
51.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price TISCO Financial Group is available for.
Intrinsic value
>50%
Share price is €2.38 vs Future cash flow value of €4.93
Current Discount Checks
For TISCO Financial Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • TISCO Financial Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • TISCO Financial Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for TISCO Financial Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TISCO Financial Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:47TA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in THB ฿8.51
SET:TISCO Share Price ** SET (2019-05-21) in THB ฿85.75
Germany Banks Industry PE Ratio Median Figure of 6 Publicly-Listed Banks Companies 15.85x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 20.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of TISCO Financial Group.

DB:47TA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SET:TISCO Share Price ÷ EPS (both in THB)

= 85.75 ÷ 8.51

10.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TISCO Financial Group is good value based on earnings compared to the DE Banks industry average.
  • TISCO Financial Group is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does TISCO Financial Group's expected growth come at a high price?
Raw Data
DB:47TA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
8%per year
Europe Banks Industry PEG Ratio Median Figure of 114 Publicly-Listed Banks Companies 0.79x
Germany Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

DB:47TA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.08x ÷ 8%

1.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TISCO Financial Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on TISCO Financial Group's assets?
Raw Data
DB:47TA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in THB ฿49.33
SET:TISCO Share Price * SET (2019-05-21) in THB ฿85.75
Germany Banks Industry PB Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.92x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.79x
DB:47TA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SET:TISCO Share Price ÷ Book Value per Share (both in THB)

= 85.75 ÷ 49.33

1.74x

* Primary Listing of TISCO Financial Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TISCO Financial Group is overvalued based on assets compared to the DE Banks industry average.
X
Value checks
We assess TISCO Financial Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. TISCO Financial Group has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is TISCO Financial Group expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TISCO Financial Group expected to grow at an attractive rate?
  • TISCO Financial Group's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • TISCO Financial Group's earnings growth is positive but not above the Germany market average.
  • TISCO Financial Group's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:47TA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:47TA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 8%
DB:47TA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 5.8%
Germany Banks Industry Earnings Growth Rate Market Cap Weighted Average 13.4%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:47TA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in THB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:47TA Future Estimates Data
Date (Data in THB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 21,788 8,421 11
2020-12-31 21,094 7,806 14
2019-12-31 19,736 7,204 6
DB:47TA Past Financials Data
Date (Data in THB Millions) Revenue Cash Flow Net Income *
2019-03-31 17,287 6,814
2018-12-31 17,332 -16,466 6,887
2018-09-30 17,229 -8,084 6,684
2018-06-30 16,912 1,657 6,652
2018-03-31 16,272 14,510 6,402
2017-12-31 15,315 18,018 6,131
2017-09-30 14,523 8,145 5,862
2017-06-30 13,884 2,571 5,539
2017-03-31 13,301 1,294 5,242
2016-12-31 12,785 -11,693 5,006
2016-09-30 12,671 -9,418 4,957
2016-06-30 11,374 1,864 4,516

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • TISCO Financial Group's earnings are expected to grow by 8% yearly, however this is not considered high growth (20% yearly).
  • TISCO Financial Group's revenue is expected to grow by 5.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:47TA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from TISCO Financial Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:47TA Future Estimates Data
Date (Data in THB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 10.41 12.00 9.45 11.00
2020-12-31 9.78 10.70 8.44 16.00
2019-12-31 9.13 9.39 8.47 12.00
DB:47TA Past Financials Data
Date (Data in THB Millions) EPS *
2019-03-31 8.51
2018-12-31 8.60
2018-09-30 8.35
2018-06-30 8.31
2018-03-31 8.00
2017-12-31 7.66
2017-09-30 7.32
2017-06-30 6.92
2017-03-31 6.55
2016-12-31 6.25
2016-09-30 6.19
2016-06-30 5.64

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • TISCO Financial Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess TISCO Financial Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
TISCO Financial Group has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has TISCO Financial Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare TISCO Financial Group's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • TISCO Financial Group's year on year earnings growth rate has been positive over the past 5 years.
  • TISCO Financial Group's 1-year earnings growth is less than its 5-year average (6.4% vs 12.8%)
  • TISCO Financial Group's earnings growth has exceeded the DE Banks industry average in the past year (6.4% vs 5.4%).
Earnings and Revenue History
TISCO Financial Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from TISCO Financial Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:47TA Past Revenue, Cash Flow and Net Income Data
Date (Data in THB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 17,286.59 6,813.82 7,457.27
2018-12-31 17,331.72 6,887.38 7,228.94
2018-09-30 17,228.91 6,683.54 7,106.42
2018-06-30 16,912.37 6,651.77 6,880.88
2018-03-31 16,272.40 6,402.41 6,623.37
2017-12-31 15,315.37 6,130.54 6,359.13
2017-09-30 14,522.58 5,861.53 6,094.13
2017-06-30 13,883.75 5,539.12 5,805.80
2017-03-31 13,300.64 5,241.63 5,593.13
2016-12-31 12,785.02 5,005.89 5,387.58
2016-09-30 12,670.78 4,956.54 5,348.53
2016-06-30 11,374.02 4,516.37 4,721.83
2016-03-31 10,956.61 4,312.68 4,521.34
2015-12-31 10,815.21 4,250.12 4,440.60
2015-09-30 10,673.02 4,240.28 4,319.66
2015-06-30 11,553.98 4,519.46 4,860.59
2015-03-31 11,451.59 4,507.29 4,783.50
2014-12-31 10,922.15 4,249.52 4,608.58
2014-09-30 9,797.48 3,819.85 4,145.89
2014-06-30 9,842.55 3,862.89 4,117.11
2014-03-31 10,133.86 4,030.24 4,224.72
2013-12-31 10,597.21 4,249.05 4,417.64
2013-09-30 11,387.48 4,440.44 4,672.64
2013-06-30 11,030.70 4,261.43 4,532.43
2013-03-31 10,223.28 3,719.44 4,426.02
2012-12-31 9,837.98 3,705.18 4,080.31
2012-09-30 9,371.82 3,385.41 3,894.86
2012-06-30 9,403.73 3,331.36 3,829.52

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • TISCO Financial Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • TISCO Financial Group used its assets more efficiently than the DE Banks industry average last year based on Return on Assets.
  • Unable to establish if TISCO Financial Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess TISCO Financial Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
TISCO Financial Group has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is TISCO Financial Group's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of TISCO Financial Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from TISCO Financial Group Company Filings, last reported 1 month ago.

DB:47TA Past Debt and Equity Data
Date (Data in THB Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 39,629.81 44,598.72 1,359.79
2018-12-31 37,829.46 59,942.25 51,497.49
2018-09-30 35,908.68 66,122.01 1,193.52
2018-06-30 34,054.72 77,206.22 1,288.28
2018-03-31 36,466.77 71,446.14 1,370.29
2017-12-31 34,731.77 75,125.94 42,024.81
2017-09-30 33,155.72 71,412.39 1,270.18
2017-06-30 31,531.99 72,081.47 1,011.10
2017-03-31 32,902.68 67,629.41 1,097.16
2016-12-31 31,325.54 75,559.64 35,899.01
2016-09-30 30,017.54 72,442.19 1,015.55
2016-06-30 28,723.73 78,456.60 974.37
2016-03-31 29,494.71 87,370.49 1,093.98
2015-12-31 28,194.33 84,590.88 28,601.29
2015-09-30 26,960.35 85,758.09 954.94
2015-06-30 26,427.32 75,696.75 1,021.58
2015-03-31 26,992.40 64,272.56 1,086.95
2014-12-31 25,823.69 76,139.38 35,580.48
2014-09-30 24,917.95 75,905.71 1,054.32
2014-06-30 23,642.14 68,827.44 1,118.12
2014-03-31 24,200.57 71,048.98 1,099.91
2013-12-31 23,054.36 55,577.49 48,959.19
2013-09-30 21,633.10 49,461.68 1,172.94
2013-06-30 20,446.75 53,767.97 1,011.93
2013-03-31 19,530.92 38,371.26 1,085.31
2012-12-31 18,380.25 41,848.77 28,088.22
2012-09-30 17,338.09 63,170.68 906.21
2012-06-30 16,240.99 124,811.93 846.91
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • TISCO Financial Group has an acceptable proportion of non-loan assets held.
  • TISCO Financial Group's liabilities are made up of primarily low risk sources of funding.
  • Loans at TISCO Financial Group are broadly funded by customer deposits.
  • TISCO Financial Group's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • TISCO Financial Group has a sufficient allowance for bad loans.
  • TISCO Financial Group has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess TISCO Financial Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. TISCO Financial Group has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is TISCO Financial Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.16%
Current annual income from TISCO Financial Group dividends. Estimated to be 7.78% next year.
If you bought €2,000 of TISCO Financial Group shares you are expected to receive €163 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • TISCO Financial Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • TISCO Financial Group's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:47TA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
Germany Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:47TA Future Dividends Estimate Data
Date (Data in ฿) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 6.68 12.00
2020-12-31 6.43 17.00
2019-12-31 7.06 10.00
DB:47TA Past Annualized Dividends Data
Date (Data in ฿) Dividend per share (annual) Avg. Yield (%)
2019-02-26 7.000 7.939
2018-02-26 5.000 6.017
2017-05-12 3.500 4.338
2017-03-06 3.500 4.937
2016-08-15 2.400 4.250
2016-02-24 2.400 5.123
2015-02-16 2.000 4.743
2014-11-13 2.000 4.433
2014-08-14 2.000 4.503
2014-05-14 2.000 4.879
2014-02-28 2.000 4.910
2013-02-19 2.400 5.593
2012-11-14 2.350 4.691
2012-08-14 2.350 5.325
2012-05-15 2.350 6.215
2012-04-23 2.350 6.027
2011-11-11 2.250 5.983
2011-08-15 2.250 6.229
2011-05-09 2.250 5.911
2011-04-22 2.250 5.948
2010-08-16 1.240 3.291
2010-05-17 1.240 4.461
2010-04-30 1.240 4.851
2009-11-13 1.000 4.186

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of TISCO Financial Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess TISCO Financial Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can TISCO Financial Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TISCO Financial Group has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of TISCO Financial Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Suthas Ruangmanamongkol
COMPENSATION ฿600,000
AGE 57
TENURE AS CEO 2.3 years
CEO Bio

Mr. Suthas Ruangmanamongkol has been Group Chief Executive at TISCO Financial Group PCL since January 2017. Mr. Ruangmanamongkol was Chief Operating Officer of TISCO Financial Group Public Company Limited since 2015. Mr. Ruangmanamongkol serves as Chairman of the Executive Board of TISCO Bank PCL since 2019. Mr. Ruangmanamongkol served as Group Chief Executive Officer of TISCO Financial Group Public Company Limited from January 2017 to May 17, 2017. Mr. Ruangmanamongkol served as the President at TISCO Financial Group Public Company Limited since 2010 until 2014. Mr. Ruangmanamongkol served as a Managing Director of TISCO Asset Management Co. Ltd. at TISCO Financial Group Public Company Limited (also known as TISCO Bank Public Co., Ltd). from February 1, 2005 to 2008. He has been an Executive Director of TISCO Financial Group Public Company Limited since September 4, 2008. He served as an Acting Head of Risk Analysis & Control of TISCO Bank Public Co. Ltd. Mr. Ruangmanamongkol served as Head of Commercial Finance, Treasury, Funding and Asset Disposal of TISCO Bank Public Co. Ltd. (also known as Tisco Finance Public Co Ltd.). He served as an Assistant Managing Director of TISCO Securities Co., Ltd. and an Executive Vice President of TISCO Finance Plc., from 2002 to 2005. Mr. Ruangmanamongkol served as a Senior Vice President of Underwriting and Securities Investment & Trading at TISCO Bank Public Co. Ltd. (also known as Thai Investment and Securities Plc) from 1998 to 2000. Mr. Ruangmanamongkol has been Member of Executive Board at TISCO Financial Group Public Company Limited since January 1, 2009. He has been Member of the Executive Board & Director at TISCO Bank Public Company Limited since 2009. He served as Director of TISCO Asset Management Co. Ltd., since February 1, 2005 Mr. Ruangmanamongkol holds an M.S. in Finance & Banking from University of Wisconsin, U.S.A, an M.B.A in Finance from Western Illinois University, U.S.A and a B. Eng. in Computer from Chulalongkorn University.

CEO Compensation
  • Suthas's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Suthas's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the TISCO Financial Group management team in years:

6.6
Average Tenure
54
Average Age
  • The average tenure for the TISCO Financial Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Suthas Ruangmanamongkol

TITLE
Group CEO
COMPENSATION
฿600K
AGE
57
TENURE
2.3 yrs

Howard Sun

TITLE
Member of Executive Board & Executive Director
COMPENSATION
฿1M
AGE
41
TENURE
7.3 yrs

Sakchai Peechapat

TITLE
President
AGE
51
TENURE
2.3 yrs

Chatri Chandrangam

TITLE
First Executive VP of Risk & Financial Control and Acting Head of Investment
AGE
48

Satoshi Yoshitake

TITLE
Member of Executive Board & Executive Director
AGE
57
TENURE
0.1 yrs

Chutintorn Vigasi

TITLE
Head of Corporate Accounting
AGE
54
TENURE
10.3 yrs

Thirapatou Sihanartkatakul

TITLE
IR Expert

Dulyarat Taveebhol

TITLE
Head of Corporate Compliance
AGE
61
TENURE
5.8 yrs

Nudtinee Suwanpanitch

TITLE
Head of Legal Office
AGE
44
TENURE
9.3 yrs

Nartrudee Siwabut

TITLE
Head of Corporate Communications
AGE
57
TENURE
10.3 yrs
Board of Directors Tenure

Average tenure and age of the TISCO Financial Group board of directors in years:

9.1
Average Tenure
59.5
Average Age
  • The tenure for the TISCO Financial Group board of directors is about average.
Board of Directors

Pliu Mangkornkanok

TITLE
Chairman of the Board
COMPENSATION
฿3M
AGE
70
TENURE
8.9 yrs

Suthas Ruangmanamongkol

TITLE
Group CEO
COMPENSATION
฿600K
AGE
57
TENURE
10.7 yrs

Alexander Shing

TITLE
Vice Chairman of the Board
COMPENSATION
฿1M
AGE
41
TENURE
9.3 yrs

Howard Sun

TITLE
Member of Executive Board & Executive Director
COMPENSATION
฿1M
AGE
41
TENURE
7.9 yrs

Sakchai Peechapat

TITLE
President
AGE
51

Satoshi Yoshitake

TITLE
Member of Executive Board & Executive Director
AGE
57

Angkarat Priebjrivat

TITLE
Independent Director
COMPENSATION
฿2M
AGE
63
TENURE
10.7 yrs

Pranee Tinakorn

TITLE
Independent Director
COMPENSATION
฿1M
AGE
69
TENURE
10.4 yrs

Teerana Bhongmakapat

TITLE
Non-Executive Director
COMPENSATION
฿1M
AGE
62
TENURE
6 yrs

Krisna Theravuthi

TITLE
Advisor to Board of Directors
COMPENSATION
฿480K
AGE
68
TENURE
5.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess TISCO Financial Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. TISCO Financial Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

TISCO Financial Group Public Company Limited provides commercial banking products and services for individuals and businesses in Thailand. It operates through Commercial Banking Business, Securities Business, and Asset Management Business segments. The company accepts deposit products, such as current accounts, savings accounts, fixed deposit accounts, and certificates of deposit, as well as cards and bill payment services. It also provides personal loans, such as home and car loans, and loans against inheritance pension; investment services, including stock brokerage, mutual funds, private funds, and provident funds; insurance services, such as life, car, health, travel, retirement, cancer, and personal accident insurance; assets for sale and car auction services; and corporate loans comprising project and term loans, and promissory notes and bills of exchange, and guarantee products. In addition, the company offers various services, such as hire purchase and retail loan, SME lending, mobile banking, and insurance brokerage services. Further, it offers custodian services that include safeguarding the clients’ assets from the bank assets, delivering and receiving assets from trading transactions, monitoring various benefits and interest of funds, and preparing and delivering asset deposition reports. Additionally, the company offers investment banking services that financial advisory and underwriting, merger and acquisition, privatization advisory and implementation, project financing, debt restructuring, feasibility study, project valuation, general advisory, etc.; and private banking, and asset management services. TISCO Financial Group Public Company Limited was founded in 1969 and is based in Bangkok, Thailand.

Details
Name: TISCO Financial Group Public Company Limited
47TA
Exchange: DB
Founded: 1969
฿1,924,135,332
800,655,483
Website: http://www.tisco.co.th
Address: TISCO Financial Group Public Company Limited
48/49 TISCO Tower,
21st Floor,
Bangkok,
10500,
Thailand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SET TISCO Ordinary Shares The Stock Exchange of Thailand TH THB 15. Jan 2009
OTCPK TSCF.Y ADR Pink Sheets LLC US USD 16. Aug 2012
SET TISCO-R THB10(NVDR) The Stock Exchange of Thailand TH THB 15. Jan 2009
THAMSE TISCO-F THB10(ALIEN MARKET) Bangkok-Alien Market Stock Exchange TH THB 23. Jan 2009
DB 47T THB10(ALIEN MARKET) Deutsche Boerse AG DE EUR 23. Jan 2009
DB 47TA THB10(NVDR) Deutsche Boerse AG DE EUR 15. Jan 2009
Number of employees
Current staff
Staff numbers
4,146
TISCO Financial Group employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 22:04
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/04/18
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.