Bangkok Commercial Asset Management Public Company Limited

SET:BAM Stock Report

Market Cap: ฿29.7b

Bangkok Commercial Asset Management Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: BAM (THB9.2) is trading above our estimate of fair value (THB4.78)

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


Key Valuation Metric

Which metric is best to use when looking at relative valuation for BAM?

Other financial metrics that can be useful for relative valuation.

BAM 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 BAM's PE Ratio compare to its peers?

The above table shows the PE ratio for BAM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.3x
MFC MFC Asset Management
17.1xn/a฿3.4b
AEONTS AEON Thana Sinsap (Thailand)
10.9x5.5%฿34.5b
JMT JMT Network Services
14.1x8.6%฿25.3b
KGI KGI Securities (Thailand)
11.2xn/a฿8.9b
BAM Bangkok Commercial Asset Management
17.3x15.0%฿29.7b

Price-To-Earnings vs Peers: BAM is expensive based on its Price-To-Earnings Ratio (17.3x) compared to the peer average (13.3x).


Price to Earnings Ratio vs Industry

How does BAM's PE Ratio compare vs other companies in the TH Consumer Finance Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a11.6%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a11.6%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: BAM is expensive based on its Price-To-Earnings Ratio (17.3x) compared to the TH Consumer Finance industry average (17.1x).


Price to Earnings Ratio vs Fair Ratio

What is BAM'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.

BAM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.3x
Fair PE Ratio15.9x

Price-To-Earnings vs Fair Ratio: BAM is expensive based on its Price-To-Earnings Ratio (17.3x) compared to the estimated Fair Price-To-Earnings Ratio (15.9x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BAM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿9.20
฿9.08
-1.3%
16.6%฿11.00฿6.90n/a6
Sep ’25฿7.55
฿8.50
+12.6%
18.6%฿10.60฿6.00n/a6
Aug ’25฿6.95
฿9.21
+32.5%
19.4%฿12.00฿7.00n/a6
Jul ’25฿7.45
฿9.21
+23.6%
19.4%฿12.00฿7.00n/a6
Jun ’25฿8.55
฿9.21
+7.7%
19.4%฿12.00฿7.00n/a6
May ’25฿9.95
฿9.14
-8.1%
20.4%฿12.00฿6.80n/a6
Apr ’25฿10.10
฿9.14
-9.5%
20.4%฿12.00฿6.80n/a6
Mar ’25฿8.25
฿8.71
+5.6%
20.4%฿12.00฿6.80n/a6
Feb ’25฿8.00
฿9.69
+21.1%
30.5%฿16.00฿7.50n/a6
Jan ’25฿8.15
฿9.69
+18.9%
30.5%฿16.00฿7.50n/a6
Dec ’24฿8.30
฿10.19
+22.8%
28.3%฿16.00฿7.50n/a6
Nov ’24฿8.85
฿12.25
+38.4%
21.0%฿16.00฿9.00n/a6
Oct ’24฿10.50
฿11.90
+13.3%
22.6%฿16.00฿9.00฿9.655
Sep ’24฿11.70
฿11.70
0%
25.0%฿16.00฿8.00฿7.555
Aug ’24฿11.00
฿16.28
+48.0%
22.2%฿20.00฿11.00฿6.955
Jul ’24฿10.70
฿16.48
+54.0%
20.2%฿20.00฿12.00฿7.455
Jun ’24฿10.70
฿17.31
+61.8%
20.6%฿21.46฿12.00฿8.556
May ’24฿13.20
฿20.49
+55.3%
6.6%฿23.00฿19.10฿9.956
Apr ’24฿13.60
฿20.49
+50.7%
6.6%฿23.00฿19.10฿10.106
Mar ’24฿14.60
฿20.49
+40.4%
6.6%฿23.00฿19.10฿8.256
Feb ’24฿15.90
฿22.41
+40.9%
7.2%฿25.00฿20.00฿8.006
Jan ’24฿15.80
฿22.29
+41.1%
7.9%฿25.00฿20.00฿8.155
Dec ’23฿15.50
฿21.91
+41.4%
8.3%฿25.00฿20.00฿8.306
Nov ’23฿15.60
฿23.15
+48.4%
7.2%฿25.00฿20.00฿8.856
Oct ’23฿16.20
฿23.68
+46.2%
9.3%฿27.00฿20.00฿10.506

Analyst Forecast: Target price is lower than the current share price.


Discover undervalued companies