Betagro Public Company Limited

SET:BTG Stock Report

Market Cap: ฿35.8b

Betagro Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: BTG (THB18.5) is trading below our estimate of fair value (THB94.37)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BTG. This is calculated by dividing BTG's market cap by their current earnings.
What is BTG's PE Ratio?
PE Ratio43.3x
Earnings฿826.90m
Market Cap฿35.79b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BTG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.1x
PB President Bakery
15.9xn/a฿26.9b
TFMAMA Thai President Foods
15.2xn/a฿65.9b
TU Thai Union Group
10.4x8.3%฿54.5b
ITC i-Tail Corporation
19.1x13.3%฿68.1b
BTG Betagro
43.3x44.6%฿35.8b

Price-To-Earnings vs Peers: BTG is expensive based on its Price-To-Earnings Ratio (43.3x) compared to the peer average (15.1x).

Price to Earnings Ratio vs Industry

How does BTG's PE Ratio compare vs other companies in the TH Food Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
BTG 43.3xIndustry Avg. 13.0xNo. of Companies9PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BTG is expensive based on its Price-To-Earnings Ratio (43.3x) compared to the TH Food industry average (13x).

Price to Earnings Ratio vs Fair Ratio

What is BTG'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.

BTG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio43.3x
Fair PE Ratio32.6x

Price-To-Earnings vs Fair Ratio: BTG is expensive based on its Price-To-Earnings Ratio (43.3x) compared to the estimated Fair Price-To-Earnings Ratio (32.6x).

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 BTG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿18.50
฿23.58
+27.5%
6.3%฿26.50฿22.00n/a6
Dec ’25฿19.60
฿24.22
+23.6%
9.3%฿28.00฿22.00n/a6
Nov ’25฿21.40
฿24.90
+16.4%
8.0%฿28.00฿23.00n/a5
Oct ’25฿22.70
฿25.75
+13.4%
5.9%฿28.00฿23.00n/a6
Sep ’25฿23.90
฿25.75
+7.7%
5.9%฿28.00฿23.00n/a6
Aug ’25฿23.00
฿26.17
+13.8%
4.1%฿28.00฿25.00n/a6
Jul ’25฿21.90
฿26.17
+19.5%
4.1%฿28.00฿25.00n/a6
Jun ’25฿24.90
฿26.17
+5.1%
4.1%฿28.00฿25.00n/a6
May ’25฿23.90
฿24.83
+3.9%
9.1%฿27.00฿20.00n/a6
Apr ’25฿22.50
฿24.83
+10.4%
9.1%฿27.00฿20.00n/a6
Mar ’25฿22.00
฿26.08
+18.6%
15.3%฿33.50฿20.00n/a6
Feb ’25฿21.60
฿25.50
+18.1%
17.6%฿33.50฿20.00n/a5
Jan ’25฿24.00
฿25.50
+6.3%
17.6%฿33.50฿20.00฿18.805
Dec ’24฿23.70
฿25.50
+7.6%
17.6%฿33.50฿20.00฿19.605
Nov ’24฿20.30
฿26.45
+30.3%
20.5%฿37.00฿22.00฿21.405
Oct ’24฿22.60
฿27.21
+20.4%
18.8%฿37.00฿22.00฿22.705
Sep ’24฿25.00
฿24.11
-3.6%
7.2%฿26.00฿22.00฿23.905
Aug ’24฿22.30
฿23.94
+7.4%
6.9%฿26.00฿22.00฿23.005
Jul ’24฿29.00
฿29.34
+1.2%
17.5%฿40.25฿25.30฿21.906
Jun ’24฿28.50
฿28.93
+1.5%
19.1%฿40.25฿23.00฿24.906
May ’24฿25.50
฿33.55
+31.6%
18.9%฿40.25฿23.00฿23.905
Apr ’24฿26.25
฿40.20
+53.1%
9.2%฿45.00฿33.75฿22.505
Mar ’24฿32.25
฿44.31
+37.4%
11.0%฿52.00฿40.00฿22.004
Feb ’24฿34.00
฿46.81
+37.7%
9.8%฿52.00฿40.25฿21.604
Jan ’24฿34.00
฿46.81
+37.7%
9.8%฿52.00฿40.25฿24.004

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/03 21:33
End of Day Share Price 2025/01/03 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

Betagro Public Company Limited is covered by 11 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Charti PhrawphraikulBofA Global Research
Napassorn JittimaitriskulBofA Global Research
Prasit SujiravorakulBualuang Securities PCL