Thanachart Capital Public Company Limited

SET:TCAP-R Stock Report

Market Cap: ฿52.2b

Thanachart Capital Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 TCAP-R when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TCAP-R (THB49.75) is trading below our estimate of fair value (THB86.88)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TCAP-R. This is calculated by dividing TCAP-R's market cap by their current earnings.
What is TCAP-R's PE Ratio?
PE Ratio7.7x
Earnings฿6.74b
Market Cap฿52.17b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TCAP-R vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.7x
KKP Kiatnakin Phatra Bank
9.9x11.5%฿42.2b
TISCO TISCO Financial Group
11x0.2%฿77.1b
CREDIT Thai Credit Bank
7.7x9.8%฿24.4b
CIMBT CIMB Thai Bank
10.1xn/a฿17.8b
TCAP-R Thanachart Capital
7.7x6.9%฿52.2b

Price-To-Earnings vs Peers: TCAP-R is good value based on its Price-To-Earnings Ratio (7.7x) compared to the peer average (9.7x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TCAP-R 7.7xIndustry Avg. 8.6xNo. of Companies75PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TCAP-R is good value based on its Price-To-Earnings Ratio (7.7x) compared to the Asian Banks industry average (8.6x).

Price to Earnings Ratio vs Fair Ratio

What is TCAP-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.

TCAP-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.7x
Fair PE Ratio7.7x

Price-To-Earnings vs Fair Ratio: TCAP-R is expensive based on its Price-To-Earnings Ratio (7.7x) compared to the estimated Fair Price-To-Earnings Ratio (7.7x).

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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