Delta Electronics (Thailand) Public Company Limited

SET:DELTA Stock Report

Market Cap: ฿1.8t

Delta Electronics (Thailand) Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: DELTA (THB145) is trading above our estimate of fair value (THB64.37)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for DELTA. This is calculated by dividing DELTA's market cap by their current earnings.
What is DELTA's PE Ratio?
PE Ratio84.1x
Earnings฿21.49b
Market Cap฿1.81t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for DELTA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.4x
KCE KCE Electronics
17x12.1%฿31.3b
002475 Luxshare Precision Industry
22.4x19.6%CN¥283.3b
METCO Muramoto Electron (Thailand)
7.2xn/a฿4.0b
APH Amphenol
39x13.3%US$85.6b
DELTA Delta Electronics (Thailand)
84.1x14.0%฿1.8t

Price-To-Earnings vs Peers: DELTA is expensive based on its Price-To-Earnings Ratio (84.1x) compared to the peer average (21.4x).

Price to Earnings Ratio vs Industry

How does DELTA's PE Ratio compare vs other companies in the Asian Electronic Industry?

37 CompaniesPrice / EarningsEstimated GrowthMarket Cap
DELTA 84.1xIndustry Avg. 24.6xNo. of Companies140PE020406080100+
37 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DELTA is expensive based on its Price-To-Earnings Ratio (84.1x) compared to the Asian Electronic industry average (24.6x).

Price to Earnings Ratio vs Fair Ratio

What is DELTA'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.

DELTA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio84.1x
Fair PE Ratio30.9x

Price-To-Earnings vs Fair Ratio: DELTA is expensive based on its Price-To-Earnings Ratio (84.1x) compared to the estimated Fair Price-To-Earnings Ratio (30.9x).

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 DELTA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿145.00
฿116.48
-19.7%
7.2%฿128.00฿98.00n/a13
Nov ’25฿138.00
฿115.25
-16.5%
7.8%฿128.00฿98.00n/a12
Oct ’25฿109.50
฿105.56
-3.6%
7.8%฿115.00฿88.75n/a12
Sep ’25฿106.50
฿102.21
-4.0%
11.1%฿115.00฿79.00n/a12
Aug ’25฿103.50
฿102.21
-1.2%
11.1%฿115.00฿79.00n/a12
Jul ’25฿83.50
฿64.79
-22.4%
10.8%฿77.00฿55.00n/a12
Jun ’25฿73.75
฿65.27
-11.5%
10.5%฿77.00฿55.00n/a13
May ’25฿70.00
฿65.27
-6.8%
10.5%฿77.00฿55.00n/a13
Apr ’25฿74.50
฿69.12
-7.2%
12.5%฿84.00฿55.00n/a13
Mar ’25฿68.00
฿71.65
+5.4%
11.3%฿84.00฿60.00n/a13
Feb ’25฿78.00
฿76.94
-1.4%
12.6%฿96.00฿63.00n/a12
Jan ’25฿88.00
฿74.33
-15.5%
16.0%฿96.00฿55.75n/a12
Dec ’24฿77.50
฿74.33
-4.1%
16.0%฿96.00฿55.75n/a12
Nov ’24฿80.50
฿74.83
-7.0%
16.3%฿96.00฿55.75฿138.0012
Oct ’24฿82.75
฿70.90
-14.3%
15.6%฿89.00฿52.50฿109.5012
Sep ’24฿110.00
฿68.90
-37.4%
16.3%฿89.00฿52.50฿106.5013
Aug ’24฿113.00
฿65.98
-41.6%
19.1%฿89.00฿50.80฿103.5013
Jul ’24฿92.00
฿61.38
-33.3%
13.7%฿79.00฿50.80฿83.5013
Jun ’24฿98.00
฿61.91
-36.8%
13.9%฿79.00฿50.80฿73.7512
May ’24฿72.75
฿63.99
-12.0%
20.7%฿100.00฿50.80฿70.0012
Apr ’24฿114.20
฿64.19
-43.8%
20.2%฿100.00฿50.80฿74.5012
Mar ’24฿98.60
฿63.61
-35.5%
19.6%฿100.00฿50.80฿68.0012
Feb ’24฿89.80
฿56.00
-37.6%
19.4%฿70.00฿31.00฿78.0011
Jan ’24฿83.00
฿51.92
-37.4%
20.2%฿72.00฿31.00฿88.0011
Dec ’23฿76.40
฿51.92
-32.0%
20.2%฿72.00฿31.00฿77.5011
Nov ’23฿60.40
฿51.21
-15.2%
21.0%฿72.00฿31.00฿80.5010

Analyst Forecast: Target price is lower than the current share price.

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