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Baan Rock Garden SET:BROCK Stock Report

Last Price


Market Cap







29 Sep, 2022


Company Financials
BROCK fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance2/6
Financial Health6/6

BROCK Stock Overview

Baan Rock Garden Public Company Limited engages in real estate development activities in Bangkok, Phuket, Rayong, and Samutprakarn, Thailand.

Risk Analysis

Does not have a meaningful market cap (THB2B)

Baan Rock Garden Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Baan Rock Garden
Historical stock prices
Current Share Price฿1.78
52 Week High฿2.98
52 Week Low฿1.55
1 Month Change2.89%
3 Month Change-3.78%
1 Year Change14.10%
3 Year Change-7.77%
5 Year Change-38.19%
Change since IPO53.32%

Recent News & Updates

Shareholder Returns

BROCKTH Real EstateTH Market

Return vs Industry: BROCK exceeded the TH Real Estate industry which returned 8.5% over the past year.

Return vs Market: BROCK exceeded the TH Market which returned 0.2% over the past year.

Price Volatility

Is BROCK's price volatile compared to industry and market?
BROCK volatility
BROCK Average Weekly Movement4.1%
Real Estate Industry Average Movement3.9%
Market Average Movement4.3%
10% most volatile stocks in TH Market9.0%
10% least volatile stocks in TH Market2.2%

Stable Share Price: BROCK is not significantly more volatile than the rest of TH stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: BROCK's weekly volatility (4%) has been stable over the past year.

About the Company

1990n/aVirat Chinprapinporn

Baan Rock Garden Public Company Limited engages in real estate development activities in Bangkok, Phuket, Rayong, and Samutprakarn, Thailand. It develops and sells townhouses, single detached houses, and commercial buildings under the Baan Rock Garden brand. The company was formerly known as Chucheep South Group, Co., Ltd.

Baan Rock Garden Fundamentals Summary

How do Baan Rock Garden's earnings and revenue compare to its market cap?
BROCK fundamental statistics
Market Cap฿1.82b
Earnings (TTM)฿33.20m
Revenue (TTM)฿243.02m


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BROCK income statement (TTM)
Cost of Revenue฿148.29m
Gross Profit฿94.73m
Other Expenses฿61.53m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)0.032
Gross Margin38.98%
Net Profit Margin13.66%
Debt/Equity Ratio0%

How did BROCK perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


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

Valuation Score


Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

BROCK 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/Revenue7.2x
Enterprise Value/EBITDA36.6x
PEG Ration/a

Price to Earnings Ratio vs Peers

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

BROCK PE Ratio vs Peers
The above table shows the PE ratio for BROCK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.1x
KUN Villa Kunalai
NCH N.C. Housing
CHEWA Chewathai
A5 Asset Five Group
BROCK Baan Rock Garden

Price-To-Earnings vs Peers: BROCK is expensive based on its Price-To-Earnings Ratio (55x) compared to the peer average (13.1x).

Price to Earnings Ratio vs Industry

How does BROCK's PE Ratio compare vs other companies in the TH Real Estate Industry?

Price-To-Earnings vs Industry: BROCK is expensive based on its Price-To-Earnings Ratio (55x) compared to the TH Real Estate industry average (12.9x)

Price to Earnings Ratio vs Fair Ratio

What is BROCK'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.

BROCK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio55x
Fair PE Ration/a

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

Share Price vs Fair Value

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

Below Fair Value: BROCK (THB1.78) is trading above our estimate of fair value (THB1.75)

Significantly Below Fair Value: BROCK is trading above our estimate of fair value.

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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Future Growth

How is Baan Rock Garden forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted Real Estate industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Baan Rock Garden has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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  • Examine Baan Rock Garden's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.

Past Performance

How has Baan Rock Garden performed over the past 5 years?

Past Performance Score


Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BROCK has high quality earnings.

Growing Profit Margin: BROCK's current net profit margins (13.7%) are lower than last year (16.5%).

Past Earnings Growth Analysis

Earnings Trend: BROCK's earnings have grown significantly by 34.3% per year over the past 5 years.

Accelerating Growth: BROCK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BROCK had negative earnings growth (-32.1%) over the past year, making it difficult to compare to the Real Estate industry average (-0.6%).

Return on Equity

High ROE: BROCK's Return on Equity (2.6%) is considered low.

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Financial Health

How is Baan Rock Garden's financial position?

Financial Health Score


Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: BROCK's short term assets (THB257.5M) exceed its short term liabilities (THB30.9M).

Long Term Liabilities: BROCK's short term assets (THB257.5M) exceed its long term liabilities (THB7.0M).

Debt to Equity History and Analysis

Debt Level: BROCK is debt free.

Reducing Debt: BROCK had no debt 5 years ago.

Debt Coverage: BROCK has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: BROCK has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

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What is Baan Rock Garden current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Baan Rock Garden Dividend Yield vs Market
How does Baan Rock Garden dividend yield compare to the market?
SegmentDividend Yield
Company (Baan Rock Garden)0.6%
Market Bottom 25% (TH)1.8%
Market Top 25% (TH)5.5%
Industry Average (Real Estate)3.2%
Analyst forecast in 3 Years (Baan Rock Garden)n/a

Notable Dividend: BROCK's dividend (0.56%) isn’t notable compared to the bottom 25% of dividend payers in the TH market (1.79%).

High Dividend: BROCK's dividend (0.56%) is low compared to the top 25% of dividend payers in the TH market (5.5%).

Stability and Growth of Payments

Stable Dividend: BROCK is not paying a notable dividend for the TH market, therefore no need to check if payments are stable.

Growing Dividend: BROCK is not paying a notable dividend for the TH market, therefore no need to check if payments are increasing.

Earnings Payout to Shareholders

Earnings Coverage: BROCK is not paying a notable dividend for the TH market.

Cash Payout to Shareholders

Cash Flow Coverage: Insufficient data to calculate cash payout ratio to determine if its dividend payments are covered by cash flows.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Virat Chinprapinporn (62 yo)





Mr. Virat Chinprapinporn has been Chairman & Chief Executive Officer of Ratchthani Leasing Plc since 2002. Mr. Chinprapinporn has been President of Baan Rock Garden Plc since 1990. He serves as Chief Execu...

Leadership Team

Experienced Management: BROCK's management team is seasoned and experienced (15.5 years average tenure).

Board Members

Experienced Board: BROCK's board of directors are seasoned and experienced ( 25.2 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of BROCK?
Owner TypeNumber of SharesOwnership Percentage
General Public163,916,50116.0%
Individual Insiders861,083,68084.0%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 9 shareholders own 84.01% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
Virat Chinprapinporn
215,371,052THB383.4m0%no data
Somphong Chonkadeedamrongkul
134,291,400THB239.0m0%no data
Nongnoy Silaprarat
118,467,091THB210.9m0%no data
Naowanit Silaprarat
83,719,950THB149.0m0%no data
Naowaratlalit Kasetsuwan
82,972,293THB147.7m0%no data
Naowaruj Brennan
81,800,000THB145.6m0%no data
Naowarat Suthamjariya
78,882,000THB140.4m0%no data
Naowanart Jamornmarn
57,379,893THB102.1m0%no data
Surapon Satimanont
8,200,001THB14.6m0%no data

Company Information

Baan Rock Garden Public Company Limited's employee growth, exchange listings and data sources

Key Information

  • Name: Baan Rock Garden Public Company Limited
  • Ticker: BROCK
  • Exchange: SET
  • Founded: 1990
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Implied Market Cap: ฿1.825b
  • Shares outstanding: 1.03b
  • Website:


  • Baan Rock Garden Public Company Limited
  • 601 Soi Ramkhamhaeng
  • 39, Pracha-Uthit Road
  • Bangkok
  • 10310
  • Thailand


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BROCKSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBNov 2006
BROCK-RSET (The Stock Exchange of Thailand)NON VTG DEP RCPT EACH REP 1 THB1THTHBNov 2006

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Annual Earnings2021/12/31

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.