Prima Marine Public Company Limited

SET:PRM Stock Report

Market Cap: ฿19.9b

Prima Marine Valuation

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

Below Fair Value: PRM (THB8.55) is trading below our estimate of fair value (THB12.92)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PRM. This is calculated by dividing PRM's market cap by their current earnings.
What is PRM's PE Ratio?
PE Ratio8.3x
Earnings฿2.40b
Market Cap฿19.90b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PRM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.4x
SGP Siamgas and Petrochemicals
7.2xn/a฿13.0b
WP WP Energy
12.8xn/a฿1.8b
SEAOIL Sea Oil
6.2xn/a฿2.0b
VL V.L. Enterprise
15.6xn/a฿1.5b
PRM Prima Marine
8.3x8.5%฿19.9b

Price-To-Earnings vs Peers: PRM is good value based on its Price-To-Earnings Ratio (8.3x) compared to the peer average (10.4x).

Price to Earnings Ratio vs Industry

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

8 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PRM 8.3xIndustry Avg. 10.7xNo. of Companies38PE0816243240+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PRM is good value based on its Price-To-Earnings Ratio (8.3x) compared to the Asian Oil and Gas industry average (10.7x).

Price to Earnings Ratio vs Fair Ratio

What is PRM'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.

PRM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.3x
Fair PE Ratio5.6x

Price-To-Earnings vs Fair Ratio: PRM is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the estimated Fair Price-To-Earnings Ratio (5.6x).

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 PRM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿8.55
฿10.60
+24.0%
0.8%฿10.70฿10.50n/a3
Nov ’25฿8.95
฿10.73
+19.9%
1.9%฿11.00฿10.50n/a3
Oct ’25฿8.60
฿10.33
+20.2%
2.8%฿10.70฿10.00n/a3
Sep ’25฿8.25
฿9.98
+21.0%
5.9%฿10.70฿9.25n/a3
Aug ’25฿8.50
฿9.28
+9.2%
6.2%฿10.00฿8.60n/a3
Jul ’25฿8.65
฿9.28
+7.3%
6.2%฿10.00฿8.60n/a3
Jun ’25฿8.10
฿8.90
+9.9%
9.0%฿10.00฿8.10n/a3
May ’25฿7.65
฿8.68
+13.4%
9.0%฿10.00฿8.00n/a4
Apr ’25฿7.65
฿8.68
+13.4%
9.0%฿10.00฿8.00n/a4
Mar ’25฿6.80
฿8.03
+18.1%
2.6%฿8.30฿7.80n/a3
Feb ’25฿6.00
฿8.03
+33.9%
2.6%฿8.30฿7.80n/a3
Jan ’25฿5.35
฿8.70
+62.6%
10.8%฿10.00฿7.80n/a3
Dec ’24฿5.00
฿8.70
+74.0%
10.8%฿10.00฿7.80n/a3
Nov ’24฿6.05
฿8.15
+34.7%
1.8%฿8.30฿8.00฿8.952
Oct ’24฿6.85
฿8.77
+28.0%
10.0%฿10.00฿8.00฿8.603
Sep ’24฿6.70
฿8.77
+30.8%
10.0%฿10.00฿8.00฿8.253
Aug ’24฿6.70
฿9.17
+36.8%
7.6%฿10.00฿8.30฿8.503
Jul ’24฿6.10
฿9.17
+50.3%
7.6%฿10.00฿8.30฿8.653
Jun ’24฿6.65
฿9.08
+36.6%
7.7%฿10.00฿8.30฿8.103
May ’24฿6.15
฿10.24
+66.5%
8.3%฿11.00฿8.95฿7.654
Apr ’24฿7.30
฿10.24
+40.2%
8.3%฿11.00฿8.95฿7.654
Mar ’24฿7.45
฿10.14
+36.1%
8.8%฿11.00฿8.95฿6.804
Feb ’24฿7.90
฿9.64
+22.0%
8.6%฿11.00฿8.95฿6.004
Jan ’24฿7.15
฿8.98
+25.5%
5.1%฿9.60฿8.30฿5.354
Dec ’23฿7.30
฿8.98
+22.9%
5.1%฿9.60฿8.30฿5.004
Nov ’23฿6.50
฿8.60
+32.3%
4.1%฿9.00฿8.20฿6.054

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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