DB:GCB1

Stock Analysis Report

Executive Summary

PTT Global Chemical Public Company Limited produces and distributes ethylene, propylene polyethylene, and biochemical products.

Snowflake

Fundamentals

Very undervalued with flawless balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has Global Chemical's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-5.2%

GCB1

1.6%

DE Chemicals

1.4%

DE Market


1 Year Return

-27.6%

GCB1

-2.1%

DE Chemicals

3.7%

DE Market

Return vs Industry: GCB1 underperformed the German Chemicals industry which returned -2.1% over the past year.

Return vs Market: GCB1 underperformed the German Market which returned 3.7% over the past year.


Shareholder returns

GCB1IndustryMarket
7 Day-5.2%1.6%1.4%
30 Day-4.6%1.6%1.3%
90 Day-15.6%4.2%3.4%
1 Year-23.5%-27.6%1.8%-2.1%7.0%3.7%
3 Year12.1%-3.7%8.2%-1.8%18.5%8.3%
5 Year34.0%5.5%28.5%9.8%42.2%22.9%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Global Chemical undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: GCB1 (€1.47) is trading below our estimate of fair value (€3.25)

Significantly Undervalued: GCB1 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: GCB1 is good value based on its PE Ratio (8.8x) compared to the Chemicals industry average (19.9x).

PE vs Market: GCB1 is good value based on its PE Ratio (8.8x) compared to the German market (19.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: GCB1 is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: GCB1 is good value based on its PB Ratio (0.8x) compared to the DE Chemicals industry average (1.8x).


Next Steps

Future Growth

How is Global Chemical forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?

22.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GCB1's forecast earnings growth (22.5% per year) is above the savings rate (0.2%).

Earnings vs Market: GCB1's earnings (22.5% per year) are forecast to grow faster than the German market (12.7% per year).

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

Revenue vs Market: GCB1's revenue (3.2% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: GCB1's revenue (3.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: GCB1's Return on Equity is forecast to be low in 3 years time (8.3%).


Next Steps

Past Performance

How has Global Chemical performed over the past 5 years?

16.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: GCB1's earnings have grown by 16.8% per year over the past 5 years.

Accelerating Growth: GCB1's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: GCB1 had negative earnings growth (-40.3%) over the past year, making it difficult to compare to the Chemicals industry average (-2.1%).


Return on Equity

High ROE: GCB1's Return on Equity (8.9%) is considered low.


Return on Assets

ROA vs Industry: GCB1 has a higher Return on Assets than the Chemicals industry average last year.


Return on Capital Employed

ROCE Improving: GCB1's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Global Chemical's financial position?


Financial Position Analysis

Short Term Liabilities: GCB1's short term assets (฿125.3B) exceeds its short term liabilities (฿68.0B)

Long Term Liabilities: GCB1's short term assets (125.3B) exceeds its long term liabilities (85.4B)


Debt to Equity History and Analysis

Debt Level: GCB1's debt to equity ratio (30%) is considered satisfactory

Reducing Debt: GCB1's debt to equity ratio has reduced from 42.8% to 30% over the past 5 years.

Debt Coverage: GCB1's debt is well covered by operating cash flow (55.6%).

Interest Coverage: GCB1's interest payments on its debt are well covered by EBIT (17.8x coverage).


Balance Sheet

Inventory Level: GCB1 has a high level of physical assets or inventory.

Debt Coverage by Assets: GCB1's debt is covered by short term assets (assets are 1.410320x debt).


Next Steps

Dividend

What is Global Chemical's current dividend yield, its reliability and sustainability?

8.50%

Current Dividend Yield


Dividend Yield vs Market

company8.5%marketbottom25%1.5%markettop25%3.8%industryaverage3.6%forecastin3Years4.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: GCB1's dividend (8.5%) is higher than the bottom 25% of dividend payers in the German market (1.47%).

High Dividend: GCB1's dividend (8.5%) is in the top 25% of dividend payers in the German market (3.83%)

Stable Dividend: GCB1 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: GCB1 has only been paying a dividend for 8 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (44.2%), GCB1's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: GCB1's dividends in 3 years are forecast to be well covered by earnings (48.8% payout ratio).


Next Steps

Management

What is the CEO of Global Chemical's salary, the management and board of directors tenure and is there insider trading?

4.0yrs

Average management tenure


CEO

Kongkrapan Intarajang (51yo)

0yrs

Tenure

0

Dr. Kongkrapan Intarajang, Ph.D. has been Chief Executive Officer, Secretary and Director of PTT Global Chemical Public Company Limited since October 1, 2019. Dr. Intarajang serves as the President at Glob ...


Management Age and Tenure

4.0yrs

Average Tenure

54.5yo

Average Age

Experienced Management: GCB1's management team is considered experienced (4 years average tenure).


Board Age and Tenure

4.5yrs

Average Tenure

60yo

Average Age

Experienced Board: GCB1's board of directors are considered experienced (4.5 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Wiboon Chuchepchunkamon (57yo)

    Senior Vice President of Polymers Business Unit

    • Tenure: 3.8yrs
  • Duangkamol Settanung (59yo)

    Executive Vice President of Finance & Accounting

    • Tenure: 3.9yrs
  • Patiparn Sukorndhaman (57yo)

    President

    • Tenure: 0yrs
  • Saroj Putthammawong (51yo)

    Senior Vice President of Marketing

    • Tenure: 4yrs
  • Jeeranee Pimthanothai (54yo)

    Senior Vice President of Technical

    • Tenure: 4.1yrs
  • Kongkrapan Intarajang (51yo)

    CEO, Secretary & Director

    • Tenure: 0yrs
  • Varit Namwong (55yo)

    COO of Center of Excellence & EVP of External Affairs

    • Tenure: 8yrs
  • Athavuth Vikitsreth (59yo)

    Executive Vice President of External Affairs

    • Tenure: 0yrs
  • Narongsak Jivakanun (50yo)

    Executive Vice President of Corporate Strategy

    • Tenure: 3.7yrs
  • Toasaporn Boonyapipat (54yo)

    Executive Vice President of International Business Operations

    • Tenure: 6.8yrs

Board Members

  • Prasert Bunsumpun (67yo)

    Independent Director

    • Tenure: 8yrs
    • Compensation: ฿5.42m
  • Piyasvasti Amranand (66yo)

    Chairman of the Board & Chairman of the Independent Directors

    • Tenure: 1.5yrs
    • Compensation: ฿906.67k
  • Watanan Petersik (58yo)

    Independent Director

    • Tenure: 5.1yrs
    • Compensation: ฿4.23m
  • Kongkrapan Intarajang (51yo)

    CEO, Secretary & Director

    • Tenure: 0yrs
  • Amnuay Preemonwong (60yo)

    Independent Director

    • Tenure: 8yrs
    • Compensation: ฿4.76m
  • Prasan Chuaphanich (67yo)

    Independent Director

    • Tenure: 3.5yrs
    • Compensation: ฿4.71m
  • Somkit Lertpaithoon (59yo)

    Independent Director

    • Tenure: 1.5yrs
    • Compensation: ฿856.67k
  • Don Wasantapruek (60yo)

    Independent Director

    • Tenure: 3.9yrs
    • Compensation: ฿4.35m
  • Nithi Chungcharoen (48yo)

    Independent Director

    • Tenure: 5.1yrs
    • Compensation: ฿4.33m
  • Robin Cave

    Director

    • Tenure: 0yrs

Company Information

PTT Global Chemical Public Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PTT Global Chemical Public Company Limited
  • Ticker: GCB1
  • Exchange: DB
  • Founded:
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Market Cap: ฿225.397b
  • Listing Market Cap: ฿6.680b
  • Shares outstanding: 4.51b
  • Website: https://www.pttgcgroup.com

Location

  • PTT Global Chemical Public Company Limited
  • 555/1 Energy Complex, Building A
  • 14th-18th Floor
  • Bangkok
  • 10900
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PTTGC-RSET (The Stock Exchange of Thailand)EXITTHTHBOct 2011
PTTGCSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBOct 2011
GCBDB (Deutsche Boerse AG)COMDEEUROct 2011
PTTGC-FTHAMSE (Bangkok-Alien Market Stock Exchange)COMTHTHBOct 2011
GCB1DB (Deutsche Boerse AG)EXITDEEUROct 2011

Biography

PTT Global Chemical Public Company Limited produces and distributes ethylene, propylene polyethylene, and biochemical products. The company operates through seven segments: Refinery, Aromatics, Olefins and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 21:07
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.