Bluebik Group Public Company Limited

SET:BBIK Stock Report

Market Cap: ฿8.6b

Bluebik Group Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: BBIK (THB43) is trading below our estimate of fair value (THB49.74)

Significantly Below Fair Value: BBIK is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BBIK. This is calculated by dividing BBIK's market cap by their current earnings.
What is BBIK's PE Ratio?
PE Ratio31.2x
Earnings฿275.84m
Market Cap฿8.60b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BBIK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.2x
BE8 Beryl 8 Plus
22.3x30.5%฿3.5b
AIT Advanced Information Technology
11.9xn/a฿7.0b
SKY Sky ICT
29.1xn/a฿16.1b
PT Premier Technology
9.3xn/a฿2.8b
BBIK Bluebik Group
31.2x22.0%฿8.6b

Price-To-Earnings vs Peers: BBIK is expensive based on its Price-To-Earnings Ratio (31.2x) compared to the peer average (18.2x).

Price to Earnings Ratio vs Industry

How does BBIK's PE Ratio compare vs other companies in the Asian IT Industry?

13 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BBIK 31.2xIndustry Avg. 24.1xNo. of Companies93PE020406080100+
13 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BBIK is expensive based on its Price-To-Earnings Ratio (31.2x) compared to the Asian IT industry average (24.1x).

Price to Earnings Ratio vs Fair Ratio

What is BBIK'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.

BBIK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio31.2x
Fair PE Ratio19.4x

Price-To-Earnings vs Fair Ratio: BBIK is expensive based on its Price-To-Earnings Ratio (31.2x) compared to the estimated Fair Price-To-Earnings Ratio (19.4x).

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 BBIK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿43.00
฿48.65
+13.1%
7.3%฿53.50฿44.00n/a4
Nov ’25฿41.50
฿41.94
+1.1%
14.2%฿46.00฿31.75n/a4
Oct ’25฿41.50
฿41.94
+1.1%
14.2%฿46.00฿31.75n/a4
Sep ’25฿38.25
฿41.94
+9.6%
14.2%฿46.00฿31.75n/a4
Aug ’25฿30.75
฿41.38
+34.6%
13.9%฿46.00฿31.50n/a4
Jul ’25฿27.00
฿49.75
+84.3%
11.6%฿59.00฿44.00n/a4
Jun ’25฿31.50
฿49.75
+57.9%
11.6%฿59.00฿44.00n/a4
May ’25฿53.00
฿64.10
+20.9%
4.9%฿66.96฿58.79n/a4
Apr ’25฿52.53
฿63.28
+20.5%
7.2%฿66.96฿55.53n/a4
Mar ’25฿54.30
฿63.28
+16.5%
7.2%฿66.96฿55.53n/a4
Feb ’25฿48.18
฿63.42
+31.6%
8.2%฿66.96฿54.44n/a4
Jan ’25฿51.44
฿63.42
+23.3%
8.2%฿66.96฿54.44n/a4
Dec ’24฿50.63
฿63.42
+25.3%
8.2%฿66.96฿54.44n/a4
Nov ’24฿53.76
฿73.31
+36.4%
8.4%฿78.93฿64.78฿41.503
Oct ’24฿61.24
฿73.31
+19.7%
8.4%฿78.93฿64.78฿41.503
Sep ’24฿62.06
฿70.50
+13.6%
8.1%฿76.21฿64.78฿38.252
Aug ’24฿66.96
฿65.23
-2.6%
13.8%฿76.21฿54.16฿30.753
Jul ’24฿58.25
฿65.23
+12.0%
13.8%฿76.21฿54.16฿27.003
Jun ’24฿62.87
฿67.96
+8.1%
18.4%฿84.38฿54.16฿31.503
May ’24฿51.58
฿88.46
+71.5%
4.6%฿92.54฿84.38฿53.002
Apr ’24฿61.51
฿88.46
+43.8%
4.6%฿92.54฿84.38฿52.532
Mar ’24฿63.15
฿88.46
+40.1%
4.6%฿92.54฿84.38฿54.302
Feb ’24฿74.31
฿88.46
+19.0%
4.6%฿92.54฿84.38฿48.182
Jan ’24฿72.67
฿83.02
+14.2%
11.5%฿92.54฿73.49฿51.442
Dec ’23฿65.87
฿75.67
+14.9%
2.9%฿77.84฿73.49฿50.632
Nov ’23฿68.32
฿75.67
+10.8%
2.9%฿77.84฿73.49฿53.762

Analyst Forecast: Target price is less than 20% higher than the current share price.

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