Bangkok Union Insurance Valuation

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

BUI-R (THB16.3) is trading below our estimate of [[fair value]] (THB40.94)

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

Below Fair Value: BUI-R (THB16.3) is trading below our estimate of fair value (THB40.94)

Significantly Below Fair Value: BUI-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 BUI-R?

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

The above table shows the Price to Earnings ratio for BUI-R. This is calculated by dividing BUI-R's market cap by their current earnings.
What is BUI-R's PE Ratio?
PE Ratio	4.3x
Earnings	฿157.68m
Market Cap	฿672.35m

BUI-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	0.4x
Enterprise Value/EBITDA	2.1x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BUI-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	13.2x
NKI Navakij Insurance	17.5x	n/a	฿931.0m
INSURE Indara Insurance	8.2x	n/a	฿996.0m
CHARAN Charan Insurance	19x	n/a	฿262.8m
TVH Thaivivat Holdings	8.1x	n/a	฿2.9b
BUI-R Bangkok Union Insurance	4.3x	n/a	฿672.3m

Price-To-Earnings vs Peers: BUI-R is good value based on its Price-To-Earnings Ratio (4.3x) compared to the peer average (13.2x).

Price to Earnings Ratio vs Industry

How does BUI-R's PE Ratio compare vs other companies in the Asian Insurance Industry?

6 Companies	Price / Earnings	Estimated Growth	Market Cap

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: BUI-R is good value based on its Price-To-Earnings Ratio (4.3x) compared to the Asian Insurance industry average (11x).

Price to Earnings Ratio vs Fair Ratio

What is BUI-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.

BUI-R PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	4.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BUI-R's Price-To-Earnings Fair Ratio for valuation analysis.

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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