DB:TMLF

Stock Analysis Report

Executive Summary

TMB Bank Public Company Limited, together with its subsidiaries, provides various commercial banking products and services to personal, small and medium enterprises, and corporate customers in Thailand and internationally.


Snowflake Analysis

Very undervalued with high growth potential.


Similar Companies

Share Price & News

How has TMB Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TMLF's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

8.8%

TMLF

4.4%

DE Banks

9.9%

DE Market


1 Year Return

-65.7%

TMLF

-37.7%

DE Banks

-17.5%

DE Market

Return vs Industry: TMLF underperformed the German Banks industry which returned -33.2% over the past year.

Return vs Market: TMLF underperformed the German Market which returned -17.7% over the past year.


Shareholder returns

TMLFIndustryMarket
7 Day8.8%4.4%9.9%
30 Day-32.7%-25.5%-16.6%
90 Day-58.9%-27.2%-24.8%
1 Year-60.3%-65.7%-35.7%-37.7%-15.0%-17.5%
3 Year-62.3%-69.2%-43.7%-46.4%-17.4%-24.5%
5 Year-69.1%-76.0%-41.2%-53.2%-16.6%-28.1%

Price Volatility Vs. Market

How volatile is TMB Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is TMB Bank undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TMLF (€0.02) is trading below our estimate of fair value (€0.05)

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


Price To Earnings Ratio

PE vs Industry: TMLF is good value based on its PE Ratio (5.5x) compared to the Banks industry average (15.1x).

PE vs Market: TMLF is good value based on its PE Ratio (5.5x) compared to the German market (16.4x).


Price to Earnings Growth Ratio

PEG Ratio: TMLF is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: TMLF is good value based on its PB Ratio (0.4x) compared to the DE Banks industry average (0.7x).


Next Steps

Future Growth

How is TMB Bank forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

25.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TMLF's forecast earnings growth (25.6% per year) is above the savings rate (-0.4%).

Earnings vs Market: TMLF's earnings (25.6% per year) are forecast to grow faster than the German market (14.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TMLF's revenue (26.3% per year) is forecast to grow faster than the German market (4.1% per year).

High Growth Revenue: TMLF's revenue (26.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TMLF's Return on Equity is forecast to be low in 3 years time (7.6%).


Next Steps

Past Performance

How has TMB Bank performed over the past 5 years?

-0.005%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TMLF has high quality earnings.

Growing Profit Margin: TMLF's current net profit margins (24.5%) are lower than last year (36.3%).


Past Earnings Growth Analysis

Earnings Trend: TMLF's earnings have declined by -0% per year over the past 5 years.

Accelerating Growth: TMLF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TMLF had negative earnings growth (-37.7%) over the past year, making it difficult to compare to the Banks industry average (0.7%).


Return on Equity

High ROE: TMLF's Return on Equity (3.7%) is considered low.


Next Steps

Financial Health

How is TMB Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: TMLF has a low level of unsold assets or inventory.

Debt Coverage by Assets: TMLF's debt is covered by short term assets (assets are 2.5x debt).


Financial Institutions Analysis

Asset Level: TMLF's level of assets compared to its equity is low.

Allowance for Bad Loans: TMLF has a sufficient allowance for bad loans.

Low Risk Liabilities: TMLF's liabilities are made up of primarily low risk sources of funding.

Loan Level: TMLF has an acceptable proportion of non-loan assets held.

Low Risk Deposits: TMLF's loans are broadly funded by customer deposits.

Level of Bad Loans: TMLF has a high level of bad loans (2.59%)


Next Steps

Dividend

What is TMB Bank's current dividend yield, its reliability and sustainability?

4.88%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: TMLF's dividend (4.88%) is higher than the bottom 25% of dividend payers in the German market (1.7%).

High Dividend: TMLF's dividend (4.88%) is low compared to the top 25% of dividend payers in the German market (4.97%).


Stability and Growth of Payments

Stable Dividend: TMLF has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: TMLF's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (26.9%), TMLF's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TMLF's dividends in 3 years are forecast to be well covered by earnings (38.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average management tenure


CEO

Piti Tantakasem (48yo)

2.17s

Tenure

Mr. Piti Tantakasem has been Executive Director at Thanachart Bank PCL since December 2019. He has been Chief Executive Officer and Executive Director at TMB Bank Public Company Limited since January 1, 20 ...


Leadership Team

NamePositionTenureCompensationOwnership
Piti Tantakasem
CEO & Executive Director2.17yrsno datano data
Johannes Grisel
Chief Risk Officer1.67yrsno datano data
Praphan Anupongongarch
Presidentno datano datano data
Kositthanakorn Prapasiri
Chief Financial Officer1.92yrsno datano data
Markus Dolenga
CTO & COO0.83yrno datano data
Yongyoot Luangrattanamart
Head of Investment Bankingno datano datano data
Jittrawadee Srivichit
Head of Finance Business Partner - Retailno datano datano data
Varoon Kanjanapoo
Executive VP & Head of Compliance4.17yrsno datano data
Suvannee Kam
Head of Legalno datano datano data
Kanchana Rojvatunyu
Chief Marketing Officerno datano datano data

1.9yrs

Average Tenure

53yo

Average Age

Experienced Management: TMLF's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Piti Tantakasem
CEO & Executive Director2.17yrsno datano data
Suphadej Poonpipat
Non Executive Vice Chairman of the Board0.25yr฿193.60kno data
Teeranun Srihong
Independent Director0.25yr฿176.60kno data
Yokporn Tantisawetrat
Non Executive Director4.75yrs฿5.43mno data
Michal Szczurek
Non-Executive Director0.25yrno datano data
Philippe G. J. E. Damas
Non Executive Director12.25yrs฿6.87mno data
Singha Nikornpun
Independent Director6.17yrs฿4.25mno data
Praisun Wongsmith
Independent Director4yrs฿3.42mno data
Chumpol Rimsakorn
Non Executive Director2.92yrs฿6.31mno data
Ekniti Nitithanprapas
Chairmanno datano datano data

2.9yrs

Average Tenure

59yo

Average Age

Experienced Board: TMLF's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10.9%.


Top Shareholders

Company Information

TMB Bank Public Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TMB Bank Public Company Limited
  • Ticker: TMLF
  • Exchange: DB
  • Founded: 1957
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ฿79.015b
  • Listing Market Cap: ฿2.189b
  • Shares outstanding: 96.36b
  • Website: https://www.tmbbank.com

Number of Employees


Location

  • TMB Bank Public Company Limited
  • 3000 Phahonyothin Road
  • 2nd Floor
  • Bangkok
  • 10900
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TMLFDB (Deutsche Boerse AG)THB0.95(ALIEN MKT)DEEURJan 1992
TMB-FTHAMSE (Bangkok-Alien Market Stock Exchange)THB0.95(ALIEN MKT)THTHBJan 1992
TMBSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBJan 1992
NVPJDB (Deutsche Boerse AG)NON VTG DEP RCPT REP 1 ORD THB0.95DEEURAug 2001
TMB-RSET (The Stock Exchange of Thailand)NON VTG DEP RCPT REP 1 ORD THB0.95THTHBAug 2001
TMBB.YOTCPK (Pink Sheets LLC)ADRUSUSDOct 2011

Biography

TMB Bank Public Company Limited, together with its subsidiaries, provides various commercial banking products and services to personal, small and medium enterprises, and corporate customers in Thailand and internationally. It offers transactional, current accounts, savings, term deposits, time deposits, and foreign currency deposits; personal and home loans, overdraft, term loans, letter of guarantee products, and working capital facilities; and credit and business cards. The company also provides mutual funds products; security, life and health, property, and unit link insurance products; wealth banking products; mobile and Internet banking services; payment, cash collection, and liquidity management services; international trade and risk management products; and digital banking, and bancassurance and business protection products. TMB Bank Public Company Limited was founded in 1957 and is headquartered in Bangkok, Thailand. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 20:40
End of Day Share Price2020/03/30 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.