Thanachart Capital Public Company Limited

THAMSE:TCAP-F Stock Report

Market Cap: ฿49.5b

Thanachart Capital Valuation

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

Below Fair Value: TCAP-F (THB44.25) is trading below our estimate of fair value (THB82.64)

Significantly Below Fair Value: TCAP-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 TCAP-F?

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

The above table shows the Price to Earnings ratio for TCAP-F. This is calculated by dividing TCAP-F's market cap by their current earnings.
What is TCAP-F's PE Ratio?
PE Ratio7.1x
Earnings฿6.93b
Market Cap฿49.55b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TCAP-F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.9x
KKP Kiatnakin Phatra Bank
10.2x11.5%฿43.5b
TISCO TISCO Financial Group
11.1x0.2%฿77.5b
CREDIT Thai Credit Bank
7.9x9.8%฿24.9b
CIMBT CIMB Thai Bank
10.5xn/a฿18.5b
TCAP-F Thanachart Capital
7.1x6.8%฿49.5b

Price-To-Earnings vs Peers: TCAP-F is good value based on its Price-To-Earnings Ratio (7.1x) compared to the peer average (8.1x).


Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TCAP-F 7.1xIndustry Avg. 8.5xNo. of Companies79PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TCAP-F is good value based on its Price-To-Earnings Ratio (7.1x) compared to the Asian Banks industry average (8.4x).


Price to Earnings Ratio vs Fair Ratio

What is TCAP-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.

TCAP-F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TCAP-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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