IRPC Public Company Limited

SET:IRPC Stock Report

Market Cap: ฿25.1b

IRPC Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: IRPC (THB1.23) is trading below our estimate of fair value (THB2.22)

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

Key Valuation Metric

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

Key metric: As IRPC is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for IRPC. This is calculated by dividing IRPC's market cap by their current revenue.
What is IRPC's PS Ratio?
PS Ratio0.08x
Sales฿320.18b
Market Cap฿25.11b

Price to Sales Ratio vs Peers

How does IRPC's PS Ratio compare to its peers?

The above table shows the PS ratio for IRPC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.1x
BSRC Bangchak Sriracha
0.1x-6.2%฿26.6b
SPRC Star Petroleum Refining
0.1x-3.0%฿28.8b
TOP Thai Oil
0.1x-0.9%฿62.5b
BCP Bangchak Corporation
0.08x-4.3%฿48.5b
IRPC IRPC
0.08x-3.1%฿25.1b

Price-To-Sales vs Peers: IRPC is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.1x).

Price to Sales Ratio vs Industry

How does IRPC's PS Ratio compare vs other companies in the TH Oil and Gas Industry?

5 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.0.3x-1.0%
IRPC IRPC
 0.08x-3.1%US$736.96m
BCP Bangchak Corporation
0.08x-4.3%US$1.42b
SUSCO Susco
0.09x-5.4%US$86.30m
IRPC 0.1xIndustry Avg. 0.3xNo. of Companies7PS00.40.81.21.62+
5 CompaniesEstimated GrowthMarket Cap
Industry Avg.0.3x3.1%
IRPC IRPC
 0.08x119.3%US$736.96m
No more companies

Price-To-Sales vs Industry: IRPC is good value based on its Price-To-Sales Ratio (0.1x) compared to the TH Oil and Gas industry average (0.3x).

Price to Sales Ratio vs Fair Ratio

What is IRPC's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IRPC PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.08x
Fair PS Ratio0.1x

Price-To-Sales vs Fair Ratio: IRPC is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.1x).

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 IRPC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿1.23
฿1.45
+18.1%
19.4%฿2.10฿1.10n/a15
Dec ’25฿1.38
฿1.47
+6.6%
19.2%฿2.10฿1.10n/a14
Nov ’25฿1.52
฿1.58
+3.9%
18.2%฿2.10฿1.15n/a13
Oct ’25฿1.75
฿1.68
-4.1%
19.7%฿2.10฿1.15n/a14
Sep ’25฿1.43
฿1.69
+17.9%
19.4%฿2.10฿1.15n/a15
Aug ’25฿1.48
฿1.82
+23.2%
13.5%฿2.20฿1.40n/a15
Jul ’25฿1.64
฿1.88
+14.9%
14.0%฿2.20฿1.40n/a16
Jun ’25฿1.90
฿1.92
+1.2%
12.1%฿2.20฿1.50n/a16
May ’25฿1.97
฿1.90
-3.4%
12.4%฿2.20฿1.50n/a14
Apr ’25฿1.91
฿1.95
+1.9%
14.1%฿2.40฿1.50n/a14
Mar ’25฿1.92
฿1.95
+1.4%
14.1%฿2.40฿1.50n/a14
Feb ’25฿1.94
฿2.01
+3.6%
16.0%฿2.50฿1.50n/a14
Jan ’25฿2.02
฿2.16
+7.0%
13.5%฿2.60฿1.75n/a14
Dec ’24฿1.99
฿2.17
+8.8%
14.0%฿2.60฿1.75฿1.3813
Nov ’24฿1.92
฿2.36
+22.7%
17.3%฿3.23฿1.80฿1.5213
Oct ’24฿2.06
฿2.38
+15.6%
16.9%฿3.23฿1.80฿1.7514
Sep ’24฿2.34
฿2.59
+10.7%
20.2%฿4.00฿1.80฿1.4316
Aug ’24฿2.44
฿2.60
+6.4%
20.4%฿4.00฿1.80฿1.4816
Jul ’24฿2.28
฿2.59
+13.6%
21.0%฿4.00฿1.80฿1.6416
Jun ’24฿2.20
฿2.79
+26.7%
18.5%฿4.00฿2.00฿1.9016
May ’24฿2.36
฿3.09
+31.1%
16.0%฿4.00฿2.40฿1.9716
Apr ’24฿2.62
฿3.13
+19.3%
14.8%฿4.00฿2.60฿1.9116
Mar ’24฿2.86
฿3.16
+10.6%
14.4%฿4.00฿2.60฿1.9216
Feb ’24฿3.08
฿3.20
+3.8%
15.0%฿4.50฿2.67฿1.9416
Jan ’24฿3.02
฿3.18
+5.4%
15.6%฿4.50฿2.54฿2.0216
Dec ’23฿3.06
฿3.29
+7.7%
15.5%฿4.50฿2.60฿1.9917

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 Analysis2024/12/28 21:17
End of Day Share Price 2024/12/27 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

IRPC Public Company Limited is covered by 38 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nalinrat KittikumpolratAsia Plus Securities Company Limited
Somkij OranchatchawanBNP Paribas Securities (Asia)
Cheng KhooBNP Paribas Securities (Asia)