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Kiatnakin Phatra Bank SET:KKP-R Stock Report

Last Price


Market Cap







12 Aug, 2022


Company Financials +
KKP-R fundamental analysis
Snowflake Score
Future Growth1/6
Past Performance5/6
Financial Health5/6

KKP-R Stock Overview

Kiatnakin Phatra Bank Public Company Limited, together with its subsidiaries, provides various banking products and services in Thailand.

Kiatnakin Phatra Bank Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Kiatnakin Phatra Bank
Historical stock prices
Current Share Price฿67.25
52 Week High฿76.25
52 Week Low฿51.75
1 Month Change8.91%
3 Month Change-2.89%
1 Year Change28.71%
3 Year Change-5.61%
5 Year Change0%
Change since IPO249.35%

Recent News & Updates

Shareholder Returns

KKP-RTH BanksTH Market

Return vs Industry: KKP-R exceeded the TH Banks industry which returned 25.5% over the past year.

Return vs Market: KKP-R exceeded the TH Market which returned 7.6% over the past year.

Price Volatility

Is KKP-R's price volatile compared to industry and market?
KKP-R volatility
KKP-R Average Weekly Movement3.2%
Banks Industry Average Movement3.1%
Market Average Movement4.7%
10% most volatile stocks in TH Market10.4%
10% least volatile stocks in TH Market2.4%

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

Volatility Over Time: KKP-R's weekly volatility (3%) has been stable over the past year.

About the Company

1971n/aAphinant Klewpatinond

Kiatnakin Phatra Bank Public Company Limited, together with its subsidiaries, provides various banking products and services in Thailand. The company operates through Commercial Banking Business, Capital Market Business, and Debt Restructuring segments. Its deposit products include current, savings, and fixed deposit accounts, as well as certificates of deposit.

Kiatnakin Phatra Bank Fundamentals Summary

How do Kiatnakin Phatra Bank's earnings and revenue compare to its market cap?
KKP-R fundamental statistics
Market Cap฿56.94b
Earnings (TTM)฿7.59b
Revenue (TTM)฿21.14b


P/E Ratio


P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
KKP-R income statement (TTM)
Cost of Revenue฿0
Gross Profit฿21.14b
Other Expenses฿13.55b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)8.96
Gross Margin100.00%
Net Profit Margin35.90%
Debt/Equity Ratio175.0%

How did KKP-R perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


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

Valuation Score


Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KKP-R?

Other financial metrics that can be useful for relative valuation.

KKP-R key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio1.2x

Price to Earnings Ratio vs Peers

How does KKP-R's PE Ratio compare to its peers?

KKP-R PE Ratio vs Peers
The above table shows the PE ratio for KKP-R vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average12.9x
TISCO TISCO Financial Group
TTB TMBThanachart Bank
LHFG LH Financial Group
KKP-R Kiatnakin Phatra Bank

Price-To-Earnings vs Peers: KKP-R is good value based on its Price-To-Earnings Ratio (7.5x) compared to the peer average (12.9x).

Price to Earnings Ratio vs Industry

How does KKP-R's PE Ratio compare vs other companies in the Asian Banks Industry?

Price-To-Earnings vs Industry: KKP-R is good value based on its Price-To-Earnings Ratio (7.5x) compared to the TH Banks industry average (8.7x)

Price to Earnings Ratio vs Fair Ratio

What is KKP-R'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.

KKP-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.5x
Fair PE Ratio9.9x

Price-To-Earnings vs Fair Ratio: KKP-R is good value based on its Price-To-Earnings Ratio (7.5x) compared to the estimated Fair Price-To-Earnings Ratio (9.9x).

Share Price vs Fair Value

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

Below Fair Value: KKP-R (THB67.25) is trading below our estimate of fair value (THB126.86)

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

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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Future Growth

How is Kiatnakin Phatra Bank forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

Future Growth Score


Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: KKP-R's forecast earnings growth (6.5% per year) is above the savings rate (2%).

Earnings vs Market: KKP-R's earnings (6.5% per year) are forecast to grow slower than the TH market (18.6% per year).

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

Revenue vs Market: KKP-R's revenue (7.1% per year) is forecast to grow slower than the TH market (9.8% per year).

High Growth Revenue: KKP-R's revenue (7.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: KKP-R's Return on Equity is forecast to be low in 3 years time (13.7%).

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Past Performance

How has Kiatnakin Phatra Bank performed over the past 5 years?

Past Performance Score


Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: KKP-R has high quality earnings.

Growing Profit Margin: KKP-R's current net profit margins (35.9%) are higher than last year (34.1%).

Past Earnings Growth Analysis

Earnings Trend: KKP-R's earnings have grown by 1.5% per year over the past 5 years.

Accelerating Growth: KKP-R's earnings growth over the past year (44%) exceeds its 5-year average (1.5% per year).

Earnings vs Industry: KKP-R earnings growth over the past year (44%) exceeded the Banks industry 38.6%.

Return on Equity

High ROE: KKP-R's Return on Equity (14.3%) is considered low.

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Financial Health

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

Financial Health Score


Financial Health Score 5/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: KKP-R's Assets to Equity ratio (9.3x) is low.

Allowance for Bad Loans: KKP-R has a sufficient allowance for bad loans (160%).

Low Risk Liabilities: 73% of KKP-R's liabilities are made up of primarily low risk sources of funding.

Loan Level: KKP-R has an appropriate level of Loans to Assets ratio (67%).

Low Risk Deposits: KKP-R's Loans to Deposits ratio (102%) is appropriate.

Level of Bad Loans: KKP-R has a high level of bad loans (3.3%).

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What is Kiatnakin Phatra Bank current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: KKP-R's dividend (4.39%) is higher than the bottom 25% of dividend payers in the TH market (1.69%).

High Dividend: KKP-R's dividend (4.39%) is low compared to the top 25% of dividend payers in the TH market (5.46%).

Stability and Growth of Payments

Stable Dividend: KKP-R's dividend payments have been volatile in the past 10 years.

Growing Dividend: KKP-R's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Earnings Coverage: With its low payout ratio (24.6%), KKP-R's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: KKP-R's dividends in 3 years are forecast to be well covered by earnings (45.8% payout ratio).

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


Average management tenure


Aphinant Klewpatinond (52 yo)



Mr. Aphinant Klewpatinond is Executive Director and Chief Executive Officer of Kiatnakin Phatra Bank Public Company Limited since 2018 and served as its Acting Chief Governance Officer. Mr. Klewpatinond se...

Leadership Team

Experienced Management: KKP-R's management team is seasoned and experienced (6.6 years average tenure).

Board Members

Experienced Board: KKP-R's board of directors are considered experienced (6.5 years average tenure).


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

Kiatnakin Phatra Bank Public Company Limited's employee growth, exchange listings and data sources

Key Information

  • Name: Kiatnakin Phatra Bank Public Company Limited
  • Ticker: KKP-R
  • Exchange: SET
  • Founded: 1971
  • Industry: Diversified Banks
  • Sector: Banks
  • Implied Market Cap: ฿56.944b
  • Shares outstanding: 846.75m
  • Website:

Number of Employees


  • Kiatnakin Phatra Bank Public Company Limited
  • 209 KKP Tower
  • Sukhumvit 21 (Asoke) Road
  • Bangkok
  • 10110
  • Thailand


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/12 00:00
End of Day Share Price2022/08/11 00:00
Annual Earnings2021/12/31

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.