BCPG Public Company Limited

SET:BCPG Stock Report

Market Cap: ฿17.2b

BCPG Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: BCPG (THB5.75) is trading above our estimate of fair value (THB4.26)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BCPG. This is calculated by dividing BCPG's market cap by their current earnings.
What is BCPG's PE Ratio?
PE Ratio11.6x
Earnings฿1.48b
Market Cap฿17.23b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BCPG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.2x
EA Energy Absolute
7x-11.2%฿21.0b
GUNKUL Gunkul Engineering
16x15.2%฿20.0b
ACE Absolute Clean Energy
17.3xn/a฿13.0b
CKP CK Power
20.4x19.9%฿27.5b
BCPG BCPG
11.6x-8.5%฿17.2b

Price-To-Earnings vs Peers: BCPG is good value based on its Price-To-Earnings Ratio (11.6x) compared to the peer average (15.2x).

Price to Earnings Ratio vs Industry

How does BCPG's PE Ratio compare vs other companies in the Asian Renewable Energy Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BCPG 11.6xIndustry Avg. 13.9xNo. of Companies24PE01020304050+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BCPG is good value based on its Price-To-Earnings Ratio (11.6x) compared to the Asian Renewable Energy industry average (13.9x).

Price to Earnings Ratio vs Fair Ratio

What is BCPG'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.

BCPG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.6x
Fair PE Ratio11.2x

Price-To-Earnings vs Fair Ratio: BCPG is expensive based on its Price-To-Earnings Ratio (11.6x) compared to the estimated Fair Price-To-Earnings Ratio (11.2x).

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 BCPG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿5.75
฿9.20
+60.0%
16.1%฿11.10฿7.20n/a4
Nov ’25฿6.75
฿9.45
+40.0%
12.4%฿11.10฿8.20n/a4
Oct ’25฿7.50
฿9.23
+23.0%
15.7%฿11.10฿7.30n/a4
Sep ’25฿6.10
฿9.31
+52.6%
30.7%฿12.00฿5.75n/a5
Aug ’25฿5.65
฿9.78
+73.1%
23.5%฿12.00฿6.70n/a5
Jul ’25฿6.25
฿9.94
+59.0%
21.1%฿12.00฿7.30n/a5
Jun ’25฿6.65
฿10.83
+62.8%
23.2%฿15.10฿7.30n/a7
May ’25฿6.75
฿11.10
+64.4%
19.8%฿15.10฿7.50n/a7
Apr ’25฿7.00
฿12.27
+75.3%
24.3%฿18.00฿9.10n/a7
Mar ’25฿7.90
฿12.27
+55.3%
24.3%฿18.00฿9.10n/a7
Feb ’25฿8.25
฿12.53
+51.9%
22.1%฿18.00฿9.20n/a7
Jan ’25฿8.80
฿12.53
+42.4%
22.1%฿18.00฿9.20n/a7
Dec ’24฿8.70
฿13.02
+49.6%
20.3%฿18.00฿11.00n/a6
Nov ’24฿8.95
฿14.24
+59.1%
19.4%฿18.00฿11.00฿6.755
Oct ’24฿9.60
฿15.70
+63.5%
12.2%฿18.00฿12.40฿7.505
Sep ’24฿10.20
฿15.70
+53.9%
12.2%฿18.00฿12.40฿6.105
Aug ’24฿9.65
฿15.50
+60.6%
11.0%฿17.00฿12.40฿5.655
Jul ’24฿9.15
฿15.50
+69.4%
11.0%฿17.00฿12.40฿6.255
Jun ’24฿9.05
฿15.08
+66.6%
13.2%฿17.00฿12.40฿6.655
May ’24฿9.75
฿15.08
+54.7%
13.2%฿17.00฿12.40฿6.755
Apr ’24฿9.95
฿14.32
+43.9%
13.7%฿17.00฿11.60฿7.005
Mar ’24฿9.45
฿12.92
+36.7%
15.8%฿16.00฿10.00฿7.905
Feb ’24฿10.00
฿12.74
+27.4%
17.2%฿16.00฿10.00฿8.255
Jan ’24฿10.20
฿13.45
+31.9%
19.0%฿17.00฿10.00฿8.806
Dec ’23฿10.30
฿13.45
+30.6%
19.0%฿17.00฿10.00฿8.706
Nov ’23฿9.75
฿14.14
+45.0%
22.1%฿17.00฿10.00฿8.955

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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