Bangkok Life Assurance Future Growth

Future criteria checks 3/6

Bangkok Life Assurance is forecast to grow earnings and revenue by 20.5% and 3.2% per annum respectively. EPS is expected to grow by 1.8% per annum. Return on equity is forecast to be 8.7% in 3 years.

Key information

20.5%

Earnings growth rate

1.8%

EPS growth rate

Insurance earnings growth	2.2%
Revenue growth rate	3.2%
Future return on equity	8.7%
Analyst coverage	Low
Last updated	26 Sep 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

SET:BLA - Analysts future estimates and past financials data (THB Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	48,668	5,167	N/A	N/A	1
12/31/2025	47,132	4,455	N/A	N/A	1
12/31/2024	45,941	3,861	N/A	N/A	1
9/30/2024	45,038	3,027	-3,192	-3,159	N/A
6/30/2024	45,323	3,058	1,796	1,826	N/A
3/31/2024	44,805	3,033	-4,753	-4,745	N/A
12/31/2023	45,200	2,548	4,357	4,390	N/A
9/30/2023	46,134	2,470	-2,722	-2,679	N/A
6/30/2023	46,528	2,767	-3,547	-3,503	N/A
3/31/2023	47,406	3,167	4,609	4,678	N/A
12/31/2022	48,113	3,212	6,542	6,599	N/A
9/30/2022	46,990	3,207	2,548	2,640	N/A
6/30/2022	46,465	3,445	-1,580	-1,457	N/A
3/31/2022	46,583	3,007	-3,058	-2,922	N/A
12/31/2021	47,323	3,196	-43	187	N/A
9/30/2021	47,296	3,085	406	882	N/A
6/30/2021	46,943	2,488	-2,465	-1,869	N/A
3/31/2021	45,737	2,367	-754	53	N/A
12/31/2020	46,888	1,608	-4,852	-3,992	N/A
9/30/2020	47,592	2,100	95	711	N/A
6/30/2020	48,709	2,946	8,654	9,163	N/A
3/31/2020	49,333	3,332	4,332	4,642	N/A
12/31/2019	48,542	4,388	4,812	4,970	N/A
9/30/2019	48,553	4,722	6,468	6,588	N/A
6/30/2019	49,806	4,290	1,485	1,582	N/A
3/31/2019	50,629	4,508	1,080	1,171	N/A
12/31/2018	53,793	4,980	6,780	6,889	N/A
9/30/2018	56,373	5,741	-3,001	-2,876	N/A
6/30/2018	56,604	4,482	N/A	2,476	N/A
3/31/2018	56,667	4,476	N/A	-6,734	N/A
12/31/2017	56,213	3,645	N/A	-7,608	N/A
9/30/2017	57,659	3,889	N/A	1,370	N/A
6/30/2017	55,019	4,762	N/A	-2,967	N/A
3/31/2017	55,077	12,926	N/A	11,063	N/A
12/31/2016	55,583	5,110	N/A	7,811	N/A
9/30/2016	55,611	5,401	N/A	12,003	N/A
6/30/2016	53,993	4,002	N/A	14,697	N/A
3/31/2016	52,275	-3,545	N/A	6,742	N/A
12/31/2015	55,332	4,108	N/A	2,801	N/A
9/30/2015	50,706	4,089	N/A	821	N/A
6/30/2015	49,456	3,995	N/A	2,674	N/A
3/31/2015	52,018	2,319	N/A	15,203	N/A
12/31/2014	61,547	2,650	N/A	42,390	N/A
9/30/2014	61,096	1,289	N/A	40,372	N/A
6/30/2014	61,643	3,271	N/A	41,917	N/A
3/31/2014	60,378	4,555	N/A	40,013	N/A
12/31/2013	46,435	4,381	N/A	28,087	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BLA's forecast earnings growth (20.5% per year) is above the savings rate (2%).

Earnings vs Market: BLA's earnings (20.5% per year) are forecast to grow faster than the TH market (16.9% per year).

High Growth Earnings: BLA's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BLA's revenue (3.2% per year) is forecast to grow slower than the TH market (6.5% per year).

High Growth Revenue: BLA's revenue (3.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BLA's Return on Equity is forecast to be low in 3 years time (8.7%).

Bangkok Life Assurance Future Growth

Future criteria checks 3/6

Key information

Recent future growth updates

Price target increased by 16% to ฿25.13

Price target decreased to ฿45.50

Consensus forecasts updated

Price target decreased to ฿51.00

Price target increased to ฿57.50

Analysts update estimates

Recent updates

Now 21% undervalued

New minor risk - Share price stability

Investor sentiment improves as stock rises 20%

Price target increased by 16% to ฿25.13

New major risk - Revenue and earnings growth

Bangkok Life Assurance Public Company Limited(SET:BLA) dropped from FTSE All-World Index (USD)

Investor sentiment improves as stock rises 16%

First half dividend of ฿0.20 announced

Second quarter 2024 earnings released: EPS: ฿0.47 (vs ฿0.46 in 2Q 2023)

Now 20% undervalued

Investor sentiment improves as stock rises 18%

First quarter 2024 earnings released: EPS: ฿0.73 (vs ฿0.44 in 1Q 2023)

Now 22% undervalued after recent price drop

Bangkok Life Assurance Public Company Limited Approves Dividend for the Year Ended December 31, 2023, Payable on May 21, 2024

Bangkok Life Assurance Public Company Limited, Annual General Meeting, Apr 24, 2024

Now 20% undervalued after recent price drop

New major risk - Revenue and earnings growth

Final dividend reduced to ฿0.20

Bangkok Life Assurance Public Company Limited Announces Cash Dividend

Full year 2023 earnings: EPS and revenues miss analyst expectations

Third quarter 2023 earnings released: EPS: ฿0.38 (vs ฿0.55 in 3Q 2022)

New major risk - Revenue and earnings growth

Bangkok Life Assurance Public Company Limited Announces Cash Dividend, Payment Date 29-Sep-2023

Second quarter 2023 earnings released: EPS: ฿0.46 (vs ฿0.70 in 2Q 2022)

First quarter 2023 earnings released: EPS: ฿0.44 (vs ฿0.47 in 1Q 2022)

Upcoming dividend of ฿0.28 per share at 2.0% yield

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target decreased to ฿45.50

Bangkok Life Assurance Public Company Limited(SET:BLA) dropped from SET 50 Index

Consensus forecasts updated

Third quarter 2022 earnings released: EPS: ฿0.55 (vs ฿0.69 in 3Q 2021)

Third quarter 2022 earnings released: EPS: ฿0.55 (vs ฿0.69 in 3Q 2021)

Bangkok Life Assurance Public Company Limited Announces Interim Cash Dividend, Payable on 19 September 2022

Price target decreased to ฿51.00

Second quarter 2022 earnings released: EPS: ฿0.70 (vs ฿0.44 in 2Q 2021)

Bangkok Life Assurance Public Company Limited Announces Cash Dividend

First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Bangkok Life Assurance Public Company Limited Announces Executive Changes

Upcoming dividend of ฿0.56 per share

Price target increased to ฿57.50

Investor sentiment improved over the past week

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Bangkok Life Assurance Public Company Limited Approves Dividend for the Year 2021

Bangkok Life Assurance Public Company Limited Announces Change of Chief Accountant

Third quarter 2021 earnings released: EPS ฿0.69 (vs ฿0.34 in 3Q 2020)

CEO, President & Executive Director M. L. Sukhasvasti has left the company

First quarter 2021 earnings released: EPS ฿0.58 (vs ฿0.14 in 1Q 2020)

Investor sentiment improved over the past week

Upcoming dividend of ฿0.23 per share

New 90-day high: ฿26.75

Analysts update estimates

Full year 2020 earnings released: EPS ฿0.94 (vs ฿2.57 in FY 2019)

Bangkok Life Assurance Public Company Limited Announces Resignation of Sanor Thampipattanakul as Chief Financial Officer

Investor sentiment improved over the past week

New 90-day high: ฿24.50

New 90-day high: ฿20.50

Analysts update estimates

Third quarter 2020 earnings released: EPS ฿0.34

Price target lowered to ฿16.35

New 90-day high: ฿18.40

Mitsui Sumitomo Insurance Group Holdings, Inc. (TSE: 8725) and Nippon Life Insurance Company acquired 10% stake in Bangkok Life Assurance Limited.

New 90-day low - ฿14.50

Analysts lower EPS estimates to ฿2.15

First half earnings released

New 90-day high - ฿18.30

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts

Future Return on Equity