Krung Thai Bank Public Company Limited

DB:NVPB Stock Report

Market Cap: €7.6b

Krung Thai Bank Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: NVPB (€0.54) is trading below our estimate of fair value (€1.43)

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

Key Valuation Metric

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

Key metric: As NVPB is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NVPB. This is calculated by dividing NVPB's market cap by their current earnings.
What is NVPB's PE Ratio?
PE Ratio7x
Earnings฿39.49b
Market Cap฿276.73b

Price to Earnings Ratio vs Peers

How does NVPB's PE Ratio compare to its peers?

The above table shows the PE ratio for NVPB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.2x
CBK Commerzbank
8x8.8%€17.1b
PCZ ProCredit Holding
4.4x10.7%€459.4m
MBK Merkur PrivatBank KgaA
10.1x8.6%€107.3m
BBL Bangkok Bank
6.4x3.6%฿280.6b
NVPB Krung Thai Bank
7x6.0%€276.7b

Price-To-Earnings vs Peers: NVPB is good value based on its Price-To-Earnings Ratio (7x) compared to the peer average (7.2x).

Price to Earnings Ratio vs Industry

How does NVPB's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NVPB 7.0xIndustry Avg. 7.3xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NVPB is good value based on its Price-To-Earnings Ratio (7x) compared to the European Banks industry average (7.2x).

Price to Earnings Ratio vs Fair Ratio

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

NVPB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7x
Fair PE Ratio10.8x

Price-To-Earnings vs Fair Ratio: NVPB is good value based on its Price-To-Earnings Ratio (7x) compared to the estimated Fair Price-To-Earnings Ratio (10.8x).

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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