Kiatnakin Phatra Bank Valuation

Is KKP-F 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 KKP-F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KKP-F (THB69.25) is trading below our estimate of fair value (THB109.61)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for KKP-F. This is calculated by dividing KKP-F's market cap by their current earnings.
What is KKP-F's PE Ratio?
PE Ratio	6.9x
Earnings	฿7.63b
Market Cap	฿52.50b

KKP-F 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/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	1.1x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for KKP-F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	9.2x
TCAP Thanachart Capital	7.7x	6.9%	฿51.9b
TISCO TISCO Financial Group	11x	1.1%	฿77.1b
CREDIT Thai Credit Bank	8.4x	9.8%	฿26.8b
LHFG LH Financial Group	9.4x	n/a	฿17.2b
KKP-F Kiatnakin Phatra Bank	6.9x	7.0%	฿52.5b

Price-To-Earnings vs Peers: KKP-F is good value based on its Price-To-Earnings Ratio (6.9x) compared to the peer average (10.2x).

Price to Earnings Ratio vs Industry

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

3 Companies	Price / Earnings	Estimated Growth	Market Cap

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: KKP-F is good value based on its Price-To-Earnings Ratio (6.9x) compared to the Asian Banks industry average (8.6x).

Price to Earnings Ratio vs Fair Ratio

What is KKP-F'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-F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate KKP-F's Price-To-Earnings Fair Ratio for valuation analysis.

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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