Muangthai Capital Public Company Limited

SET:MTC Stock Report

Market Cap: ฿100.2b

Muangthai Capital Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: MTC (THB47.25) is trading above our estimate of fair value (THB38.22)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MTC. This is calculated by dividing MTC's market cap by their current earnings.
What is MTC's PE Ratio?
PE Ratio17.6x
Earnings฿5.68b
Market Cap฿100.17b

Price to Earnings Ratio vs Peers

How does MTC's PE Ratio compare to its peers?

The above table shows the PE ratio for MTC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.5x
KTC Krungthai Card
16.6x7.2%฿121.2b
SAWAD Srisawad Corporation
11.6x11.0%฿59.3b
TIDLOR Ngern Tid Lor
10.9x15.4%฿44.6b
JMT JMT Network Services
15.1x11.6%฿26.4b
MTC Muangthai Capital
17.6x18.9%฿100.2b

Price-To-Earnings vs Peers: MTC is expensive based on its Price-To-Earnings Ratio (17.6x) compared to the peer average (13.5x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
MTC 17.6xIndustry Avg. 15.0xNo. of Companies26PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MTC is expensive based on its Price-To-Earnings Ratio (17.6x) compared to the Asian Consumer Finance industry average (15x).

Price to Earnings Ratio vs Fair Ratio

What is MTC'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.

MTC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.6x
Fair PE Ratio18.4x

Price-To-Earnings vs Fair Ratio: MTC is good value based on its Price-To-Earnings Ratio (17.6x) compared to the estimated Fair Price-To-Earnings Ratio (18.4x).

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 MTC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿47.25
฿55.74
+18.0%
11.4%฿65.00฿36.00n/a17
Dec ’25฿49.25
฿54.92
+11.5%
12.8%฿65.00฿36.00n/a18
Nov ’25฿50.00
฿53.39
+6.8%
14.4%฿64.00฿36.00n/a18
Oct ’25฿49.50
฿51.31
+3.7%
13.8%฿62.00฿36.00n/a18
Sep ’25฿43.75
฿49.01
+12.0%
13.2%฿59.00฿36.00n/a18
Aug ’25฿41.00
฿49.71
+21.2%
11.7%฿59.00฿39.00n/a17
Jul ’25฿43.25
฿49.48
+14.4%
12.9%฿59.00฿34.00n/a17
Jun ’25฿44.50
฿49.54
+11.3%
13.0%฿59.00฿34.00n/a17
May ’25฿45.50
฿47.82
+5.1%
13.2%฿59.00฿34.00n/a16
Apr ’25฿47.25
฿47.23
-0.05%
13.4%฿59.00฿34.00n/a16
Mar ’25฿45.75
฿46.63
+1.9%
13.6%฿59.00฿35.50n/a16
Feb ’25฿42.75
฿45.82
+7.2%
12.6%฿56.00฿35.50n/a16
Jan ’25฿45.00
฿43.44
-3.5%
12.9%฿56.00฿32.00n/a16
Dec ’24฿43.75
฿43.44
-0.7%
12.9%฿56.00฿32.00฿49.2516
Nov ’24฿37.25
฿40.35
+8.3%
11.8%฿50.00฿32.00฿50.0016
Oct ’24฿36.00
฿40.10
+11.4%
13.9%฿50.00฿32.00฿49.5016
Sep ’24฿40.25
฿38.98
-3.2%
12.8%฿50.00฿32.00฿43.7516
Aug ’24฿35.50
฿37.44
+5.5%
14.3%฿49.00฿28.00฿41.0015
Jul ’24฿39.25
฿36.98
-5.8%
16.2%฿49.00฿27.00฿43.2517
Jun ’24฿40.75
฿36.98
-9.3%
16.2%฿49.00฿27.00฿44.5017
May ’24฿34.00
฿36.97
+8.7%
16.9%฿50.00฿27.00฿45.5016
Apr ’24฿34.50
฿37.31
+8.2%
17.4%฿50.00฿27.00฿47.2516
Mar ’24฿34.75
฿37.44
+7.7%
16.9%฿50.00฿27.00฿45.7516
Feb ’24฿38.50
฿39.97
+3.8%
20.1%฿57.00฿27.00฿42.7516
Jan ’24฿38.00
฿40.19
+5.8%
20.4%฿57.00฿27.00฿45.0016
Dec ’23฿38.25
฿42.07
+10.0%
18.9%฿57.00฿30.00฿43.7515

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/21 05:56
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Muangthai Capital Public Company Limited is covered by 30 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Wannapa AsavatevavithBNP Paribas Securities (Asia)
Piriyapon KongvanichBualuang Securities PCL
Suwat BumrungchatudomBualuang Securities PCL