Banpu Valuation

Q: What is the Fair Price of BANPU-R when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

BANPU-R (THB6) is trading below our estimate of [[fair value]] (THB14.86)

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

Below Fair Value: BANPU-R (THB6) is trading below our estimate of fair value (THB14.86)

Significantly Below Fair Value: BANPU-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 BANPU-R?

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

The above table shows the Price to Earnings ratio for BANPU-R. This is calculated by dividing BANPU-R's market cap by their current earnings.
What is BANPU-R's PE Ratio?
PE Ratio	7.8x
Earnings	US$223.53m
Market Cap	US$1.74b

BANPU-R 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	1.5x
Enterprise Value/EBITDA	7.1x
PEG Ratio	11.4x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BANPU-R 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	21.8x
LANNA Lanna Resources	4.8x	n/a	฿8.5b
TOP Thai Oil	8.9x	21.5%	฿90.5b
BCP Bangchak Corporation	64.9x	64.3%	฿44.8b
PRM Prima Marine	8.5x	8.1%	฿20.5b
BANPU-R Banpu	7.8x	0.7%	฿60.1b

Price-To-Earnings vs Peers: BANPU-R is good value based on its Price-To-Earnings Ratio (7.8x) compared to the peer average (21.8x).

Price to Earnings Ratio vs Industry

How does BANPU-R's PE Ratio compare vs other companies in the Asian Oil and Gas Industry?

8 Companies	Price / Earnings	Estimated Growth	Market Cap

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: BANPU-R is good value based on its Price-To-Earnings Ratio (7.8x) compared to the Asian Oil and Gas industry average (10.3x).

Price to Earnings Ratio vs Fair Ratio

What is BANPU-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.

BANPU-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.8x
Fair PE Ratio	5.7x

Price-To-Earnings vs Fair Ratio: BANPU-R is expensive based on its Price-To-Earnings Ratio (7.8x) compared to the estimated Fair Price-To-Earnings Ratio (5.7x).

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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