Banpu Power Public Company Limited

SET:BPP Stock Report

Market Cap: ฿38.1b

Banpu Power Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: BPP (THB12.5) is trading above our estimate of fair value (THB11.04)

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


Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

BPP 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/Revenue2.2x
Enterprise Value/EBITDA12.1x
PEG Ratio-8.4x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BPP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average30.1x
RATCH Ratch Group
10.9x18.8%฿57.1b
BGRIM B.Grimm Power
47x29.5%฿52.4b
GPSC Global Power Synergy
31.8x24.3%฿109.3b
GULF Gulf Energy Development
30.7x17.1%฿445.9b
BPP Banpu Power
9.8x-1.2%฿38.1b

Price-To-Earnings vs Peers: BPP is good value based on its Price-To-Earnings Ratio (9.8x) compared to the peer average (30.1x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a19.4%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a19.4%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: BPP is good value based on its Price-To-Earnings Ratio (9.8x) compared to the Asian Renewable Energy industry average (15.9x).


Price to Earnings Ratio vs Fair Ratio

What is BPP'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.

BPP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.8x
Fair PE Ratio12.9x

Price-To-Earnings vs Fair Ratio: BPP is good value based on its Price-To-Earnings Ratio (9.8x) compared to the estimated Fair Price-To-Earnings Ratio (12.9x).


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 BPP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿12.50
฿17.25
+38.0%
4.3%฿18.00฿16.50n/a2
Jun ’25฿13.20
฿17.25
+30.7%
4.3%฿18.00฿16.50n/a2
May ’25฿14.30
฿17.25
+20.6%
4.3%฿18.00฿16.50n/a2
Apr ’25฿14.80
฿18.25
+23.3%
9.6%฿20.00฿16.50n/a2
Mar ’25฿14.10
฿18.25
+29.4%
9.6%฿20.00฿16.50n/a2
Feb ’25฿14.40
฿18.25
+26.7%
9.6%฿20.00฿16.50n/a2
Jan ’25฿14.50
฿18.25
+25.9%
9.6%฿20.00฿16.50n/a2
Dec ’24฿14.60
฿18.25
+25.0%
9.6%฿20.00฿16.50n/a2
Nov ’24฿14.10
฿18.05
+28.0%
10.8%฿20.00฿16.10n/a2
Oct ’24฿13.70
฿18.10
+32.1%
8.8%฿20.00฿16.10n/a3
Sep ’24฿15.00
฿18.08
+20.5%
7.6%฿20.00฿16.10n/a4
Aug ’24฿14.50
฿17.88
+23.3%
9.4%฿20.00฿15.30n/a4
Jul ’24฿14.30
฿18.38
+28.5%
13.0%฿22.00฿15.30n/a4
Jun ’24฿14.00
฿18.38
+31.3%
13.0%฿22.00฿15.30฿13.204
May ’24฿13.60
฿18.93
+39.2%
9.5%฿22.00฿17.50฿14.304
Apr ’24฿16.00
฿18.93
+18.3%
9.5%฿22.00฿17.50฿14.804
Mar ’24฿15.40
฿19.17
+24.5%
10.5%฿22.00฿17.50฿14.103
Feb ’24฿17.40
฿19.37
+11.3%
9.6%฿22.00฿18.00฿14.403
Jan ’24฿16.40
฿18.08
+10.2%
0.5%฿18.20฿18.00฿14.504
Dec ’23฿15.70
฿18.08
+15.1%
0.5%฿18.20฿18.00฿14.604
Nov ’23฿15.10
฿18.55
+22.8%
4.5%฿20.00฿18.00฿14.104
Oct ’23฿14.40
฿18.55
+28.8%
4.5%฿20.00฿18.00฿13.704
Sep ’23฿15.60
฿18.45
+18.3%
5.0%฿20.00฿17.60฿15.004
Aug ’23฿15.20
฿18.36
+20.8%
4.9%฿20.00฿17.50฿14.505
Jul ’23฿14.40
฿18.36
+27.5%
4.9%฿20.00฿17.50฿14.305
Jun ’23฿15.90
฿18.52
+16.5%
5.0%฿20.00฿17.50฿14.005

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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