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Banpu Power (BPP) Stock Overview

Engages in the generation and distribution of thermal and renewable power in Thailand, Laos, China, Japan, Vietnam, Indonesia, Australia, and the United States. More details

BPP fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	1/6
Past Performance	3/6
Financial Health	3/6
Dividends	2/6

Rewards

Trading at 71.5% below our estimate of its fair value

Revenue is forecast to grow 13.09% per year

Earnings grew by 406.8% over the past year

Trading at good value compared to peers and industry

Risk Analysis

Earnings are forecast to decline by an average of 35.2% per year for the next 3 years

Dividend of 4.17% is not well covered by free cash flows

Large one-off items impacting financial results

BPP Community Fair Values

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Banpu Power Public Company Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for Banpu Power
Historical stock prices
Current Share Price	฿12.00
52 Week High	฿13.20
52 Week Low	฿7.40
Beta	0.33
1 Month Change	7.14%
3 Month Change	0.84%
1 Year Change	58.94%
3 Year Change	-17.24%
5 Year Change	-31.43%
Change since IPO	-55.96%

Recent updates

Shareholder Returns

	BPP	TH Renewable Energy	TH Market
7D	0%	0.2%	0.6%
1Y	58.9%	28.5%	23.7%

Return vs Industry: BPP exceeded the TH Renewable Energy industry which returned 38.3% over the past year.

Return vs Market: BPP exceeded the TH Market which returned 29.7% over the past year.

Price Volatility

Is BPP's price volatile compared to industry and market?
BPP volatility
BPP Average Weekly Movement	2.8%
Renewable Energy Industry Average Movement	5.2%
Market Average Movement	4.0%
10% most volatile stocks in TH Market	9.4%
10% least volatile stocks in TH Market	2.0%

Stable Share Price: BPP has not had significant price volatility in the past 3 months compared to the TH market.

Volatility Over Time: BPP's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1996	n/a	Issara Niropas	www.banpupower.com

Banpu Power Public Company Limited engages in the generation and distribution of thermal and renewable power in Thailand, Laos, China, Japan, Vietnam, Indonesia, Australia, and the United States. It produces and sells power using solar, wind, coal, and natural gas. The company is also involved in the production and trading of steam and power; provision of solar rooftops, electric vehicles, energy storage, and energy management systems; energy generation support activities; and investment in power business.

Banpu Power Public Company Limited Fundamentals Summary

How do Banpu Power's earnings and revenue compare to its market cap?
BPP fundamental statistics
Market cap	฿36.57b
Earnings (TTM)	฿8.33b
Revenue (TTM)	฿25.84b

4.4x

P/E Ratio

1.4x

P/S Ratio

Is BPP overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
BPP income statement (TTM)
Revenue	฿25.84b
Cost of Revenue	฿21.19b
Gross Profit	฿4.65b
Other Expenses	-฿3.68b
Earnings	฿8.33b

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)	2.73
Gross Margin	17.98%
Net Profit Margin	32.24%
Debt/Equity Ratio	38.9%

How did BPP perform over the long term?

See historical performance and comparison

Dividends

4.2%

Current Dividend Yield

86%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/08/01 05:57
End of Day Share Price	2026/07/16 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Banpu Power Public Company Limited is covered by 6 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Suwat Sinsadok	CGS International
Tarun Bhatnagar	HSBC
Sumedh Samant	J.P. Morgan

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Banpu Power (BPP) Stock Overview

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Banpu Power Public Company Limited Competitors

B.Grimm Power

Electricity Generating

Global Power Synergy

Ratch Group

Price History & Performance

Recent News & Updates

First quarter 2026 earnings released: EPS: ฿1.93 (vs ฿0.19 in 1Q 2025)

Upcoming dividend of ฿0.35 per share

New minor risk - Share price stability

Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind

Dividend of ฿0.35 announced

Banpu Power Public Company Limited Announces Dividend for the Period During 1 July 2025- to 31 December 2025, Payable on April 28, 2026

Recent updates

First quarter 2026 earnings released: EPS: ฿1.93 (vs ฿0.19 in 1Q 2025)

Upcoming dividend of ฿0.35 per share

New minor risk - Share price stability

Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind

Dividend of ฿0.35 announced

Banpu Power Public Company Limited Announces Dividend for the Period During 1 July 2025- to 31 December 2025, Payable on April 28, 2026

Investor sentiment deteriorates as stock falls 15%

Consensus revenue estimates increase by 36%

Price target increased by 9.6% to ฿10.00

Banpu Public Company Limited (SET:BANPU) agreed to acquire remaining 21.34% stake in Banpu Power Public Company Limited (SET:BPP) for THB 8.5 billion.

New minor risk - Share price stability

Investor sentiment improves as stock rises 21%

Investor sentiment improves as stock rises 21%

First half dividend reduced to ฿0.25

Second quarter 2025 earnings released: EPS: ฿0.42 (vs ฿0.32 in 2Q 2024)

Consensus EPS estimates increase by 17%

New major risk - Dividend sustainability

First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind

Upcoming dividend of ฿0.30 per share

Full year 2024 earnings: EPS and revenues miss analyst expectations

Banpu Power Public Company Limited, Annual General Meeting, Apr 04, 2025

Banpu Power Public Company Limited Proposes Annual Dividend, Payable on 28 April 2025

Price target decreased by 15% to ฿12.30

Third quarter 2024 earnings released: EPS: ฿0.37 (vs ฿0.69 in 3Q 2023)

Consensus revenue estimates increase by 39%, EPS downgraded

Consensus revenue estimates increase by 63%

First half dividend reduced to ฿0.30

Banpu Power Public Company Limited Announces Cash Dividend for the Operating Period from January 01, 2024 to June 30, 2024, Payable on September 24, 2024

Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target decreased by 9.6% to ฿15.60

Less than half of directors are independent

Upcoming dividend of ฿0.40 per share

Now 22% overvalued after recent price rise

Banpu Power Public Company Limited Announces Resignation of Bundhit Eua-Arporn as Director, Effective April 2, 2024

Final dividend increased to ฿0.40

Banpu Power Public Company Limited, Annual General Meeting, Apr 01, 2024

Full year 2023 earnings: EPS and revenues exceed analyst expectations

New major risk - Financial position

Upcoming dividend of ฿0.40 per share at 4.7% yield

Banpu Power Public Company Limited Announces Cash Dividend for the Period from January 01, 2023 to June 30, 2023, Payable on September 27, 2023

New major risk - Revenue and earnings growth

Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Banpu Power Public Company Limited Announces Chief Financial Officer Changes

First quarter 2023 earnings released: EPS: ฿0.69 (vs ฿0.96 in 1Q 2022)

Upcoming dividend of ฿0.30 per share at 4.4% yield

Full year 2022 earnings: EPS and revenues exceed analyst expectations

Consensus EPS estimates increase by 35%

Third quarter 2022 earnings released: EPS: ฿0.76 (vs ฿0.20 in 3Q 2021)

Consensus revenue estimates increase by 14%

Upcoming dividend of ฿0.40 per share

Banpu Power Public Company Limited Announces Interim Dividend from January 1, 2022 to June 30, 2022, Payable on 26 September 2022

Second quarter 2022 earnings released: EPS: ฿0.23 (vs ฿0.37 in 2Q 2021)

Consensus forecasts updated

Consensus forecasts updated

First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Banpu Power Public Company Limited Approves Annual Dividend for the Period Ended 31 December 2021, Payable on 27 April 2022

Upcoming dividend of ฿0.35 per share

Banpu Power Public Company Limited Announces Resignations of Mr. Rawi Corsiri as Director

Consensus forecasts updated

Price target decreased to ฿19.28

Banpu Power Public Company Limited, Annual General Meeting, Apr 01, 2022