SET:KBANK

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Kasikornbank Public Company Limited, together with its subsidiaries, provides commercial banking products and services in Thailand and internationally. More Details


Snowflake Analysis

Excellent balance sheet and slightly overvalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: KBANK is more volatile than 75% of TH stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: KBANK's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of TH stocks.


Market Performance


7 Day Return

-4.5%

KBANK

-1.5%

TH Banks

-1.1%

TH Market


1 Year Return

-17.1%

KBANK

-13.5%

TH Banks

-2.6%

TH Market

Return vs Industry: KBANK underperformed the TH Banks industry which returned -13.5% over the past year.

Return vs Market: KBANK underperformed the TH Market which returned -2.6% over the past year.


Shareholder returns

KBANKIndustryMarket
7 Day-4.5%-1.5%-1.1%
30 Day5.5%3.0%2.6%
90 Day54.2%43.5%25.1%
1 Year-13.2%-17.1%-9.1%-13.5%0.6%-2.6%
3 Year-44.0%-48.7%-35.2%-42.7%-9.1%-17.4%
5 Year-18.0%-28.2%-3.9%-20.5%38.7%18.3%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

11.03x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: KBANK (฿116) is trading above our estimate of fair value (฿83.66)

Significantly Below Fair Value: KBANK is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: KBANK is poor value based on its PE Ratio (11x) compared to the TH Banks industry average (9.8x).

PE vs Market: KBANK is good value based on its PE Ratio (11x) compared to the TH market (17.1x).


Price to Earnings Growth Ratio

PEG Ratio: KBANK is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: KBANK's PB Ratio (0.7x) is in line with the TH Banks industry average.


Next Steps

Future Growth

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

16.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KBANK's forecast earnings growth (16.6% per year) is above the savings rate (2.2%).

Earnings vs Market: KBANK's earnings (16.6% per year) are forecast to grow slower than the TH market (27.5% per year).

High Growth Earnings: KBANK's earnings are forecast to grow, but not significantly.

Revenue vs Market: KBANK's revenue (5.4% per year) is forecast to grow slower than the TH market (10.8% per year).

High Growth Revenue: KBANK's revenue (5.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KBANK's Return on Equity is forecast to be low in 3 years time (6.7%).


Next Steps

Past Performance

How has Kasikornbank performed over the past 5 years?

-4.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KBANK has high quality earnings.

Growing Profit Margin: KBANK's current net profit margins (23.6%) are lower than last year (30%).


Past Earnings Growth Analysis

Earnings Trend: KBANK's earnings have declined by 4.1% per year over the past 5 years.

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

Earnings vs Industry: KBANK had negative earnings growth (-32.3%) over the past year, making it difficult to compare to the Banks industry average (-22.7%).


Return on Equity

High ROE: KBANK's Return on Equity (6.2%) is considered low.


Next Steps

Financial Health

How is Kasikornbank'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


Financial Institutions Analysis

Asset Level: KBANK's Assets to Equity ratio (7.8x) is low.

Allowance for Bad Loans: KBANK has a sufficient allowance for bad loans (139%).

Low Risk Liabilities: 74% of KBANK's liabilities are made up of primarily low risk sources of funding.

Loan Level: KBANK has an appropriate level of Loans to Assets ratio (57%).

Low Risk Deposits: KBANK's Loans to Deposits ratio (89%) is appropriate.

Level of Bad Loans: KBANK has a high level of bad loans (4.5%).


Next Steps

Dividend

What is Kasikornbank current dividend yield, its reliability and sustainability?

3.13%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate KBANK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate KBANK's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if KBANK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if KBANK's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: KBANK is not paying a notable dividend for the TH market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of KBANK's dividend in 3 years as they are not forecast to pay a notable one for the TH market.


Next Steps

Management

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

5.0yrs

Average management tenure


CEO

Kattiya Indaravijaya (55 yo)

1.25yrs

Tenure

฿4,187,590

Compensation

Ms. Kattiya Indaravijaya has been Chief Executive Officer at Kasikornbank Public Company Limited since October 2019. Ms. Indaravijaya has been an Executive Director of Kasikornbank Public Company Limited s...


Leadership Team

NamePositionTenureCompensationOwnership
Kattiya Indaravijaya
CEO & Director1.25yrs฿4.19mno data
Pipit Aneaknithi
President & Executive Director4yrs฿4.19mno data
Patchara Samalapa
President & Director2.75yrs฿3.69mno data
Abhijai Chandrasen
Non-Executive Director & Legal Adviser20.75yrs฿8.58mno data
Krit Jitjang
President & Director0.33yrno datano data
Pipatpong Poshyanonda
President & Director0.33yrno datano data
Chongrak Rattanapian
Senior EVP & CFO5yrsno datano data
Pornvipa Tangtrongchit
Chief of Investment Bankingno datano datano data
Tawit Thanachanan
First Senior Vice President20yrsno datano data
Pongpichet Nananukool
First Senior Vice President13yrsno datano data
Thiti Tantikulanan
Senior EVP & Head of Capital Markets Business Division13yrsno datano data
Suwat Charoenvijitchai
First Senior Vice President16yrsno datano data

5.0yrs

Average Tenure

51yo

Average Age

Experienced Management: KBANK's management team is seasoned and experienced (5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kattiya Indaravijaya
CEO & Director1.25yrs฿4.19mno data
Pipit Aneaknithi
President & Executive Director4yrs฿4.19mno data
Patchara Samalapa
President & Director2.75yrs฿3.69mno data
Abhijai Chandrasen
Non-Executive Director & Legal Adviser20.75yrs฿8.58mno data
Krit Jitjang
President & Director0.33yrno datano data
Pipatpong Poshyanonda
President & Director0.33yrno datano data
Sujitpan Lamsam
Vice Chairperson of the Board5yrs฿6.49mno data
Banyong Lamsam
Honorary Chairmanno data฿569.82kno data
Piyasvasti Amranand
Independent Director7.75yrs฿6.65mno data
Kalin Sarasin
Independent Director7.75yrs฿5.46mno data
Kobkarn Wattanavrangkul
Chairperson of the Board & Lead Independent Director1yr฿7.75mno data
Suphajee Suthumpun
Independent Director5.25yrs฿6.29mno data
Nalinee Paiboon
Independent Director8.42yrs฿5.63mno data

5.0yrs

Average Tenure

59yo

Average Age

Experienced Board: KBANK's board of directors are considered experienced (5 years average tenure).


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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Kasikornbank Public Company Limited
  • Ticker: KBANK
  • Exchange: SET
  • Founded: 1945
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ฿272.473b
  • Shares outstanding: 2.37b
  • Website: https://www.kasikornbank.com

Location

  • Kasikornbank Public Company Limited
  • 1 Soi Rat Burana 27/1
  • Rat Burana Road
  • Bangkok
  • 10140
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TFBFDB (Deutsche Boerse AG)SHS FGN REGDEEURMay 1993
KBANKSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBMay 1993
KBANK-FTHAMSE (Bangkok-Alien Market Stock Exchange)SHS FGN REGTHTHBMay 1993
KPCP.FOTCPK (Pink Sheets LLC)SHS FGN REGUSUSDMay 1993
KBANK-RSET (The Stock Exchange of Thailand)NON VTG DEP RCPT REP 1 ORD THB10THTHBAug 2001
KPCU.FOTCPK (Pink Sheets LLC)NON VTG DEP RCPT REP 1 ORD THB10USUSDAug 2001
KPCP.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDApr 2011

Biography

Kasikornbank Public Company Limited, together with its subsidiaries, provides commercial banking products and services in Thailand and internationally. The company’s personal banking products and services ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/20 11:32
End of Day Share Price2021/01/20 00:00
Earnings2020/09/30
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.