Energy Absolute Public Company Limited

SET:EA Stock Report

Market Cap: ฿21.5b

Energy Absolute Valuation

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

Below Fair Value: EA (THB5.8) is trading above our estimate of fair value (THB4.79)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for EA. This is calculated by dividing EA's market cap by their current earnings.
What is EA's PE Ratio?
PE Ratio7.1x
Earnings฿3.02b
Market Cap฿21.54b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for EA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.9x
CKP CK Power
20.3x19.9%฿27.3b
GUNKUL Gunkul Engineering
16x15.2%฿20.0b
BCPG BCPG
11.5x-8.5%฿17.1b
TPIPP TPI Polene Power
7.8x-19.0%฿25.2b
EA Energy Absolute
7.1x-11.2%฿21.5b

Price-To-Earnings vs Peers: EA is good value based on its Price-To-Earnings Ratio (7.1x) compared to the peer average (13.9x).

Price to Earnings Ratio vs Industry

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

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EA 7.1xIndustry Avg. 14.1xNo. of Companies23PE01020304050+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EA is good value based on its Price-To-Earnings Ratio (7.1x) compared to the Asian Renewable Energy industry average (14.1x).

Price to Earnings Ratio vs Fair Ratio

What is EA'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.

EA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.1x
Fair PE Ratio17.9x

Price-To-Earnings vs Fair Ratio: EA is good value based on its Price-To-Earnings Ratio (7.1x) compared to the estimated Fair Price-To-Earnings Ratio (17.9x).

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 EA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿5.80
฿17.33
+198.9%
73.9%฿35.00฿5.00n/a3
Nov ’25฿7.80
฿17.33
+122.2%
73.9%฿35.00฿5.00n/a3
Oct ’25฿9.10
฿17.33
+90.5%
73.9%฿35.00฿5.00n/a3
Sep ’25฿6.60
฿17.33
+162.6%
73.9%฿35.00฿5.00n/a3
Aug ’25฿3.82
฿17.33
+353.8%
73.9%฿35.00฿5.00n/a3
Jul ’25฿12.60
฿26.64
+111.4%
24.3%฿35.00฿20.00n/a5
Jun ’25฿22.90
฿38.40
+67.7%
10.2%฿45.00฿34.00n/a5
May ’25฿30.75
฿47.80
+55.4%
23.5%฿70.00฿40.00n/a5
Apr ’25฿34.25
฿54.80
+60.0%
30.7%฿80.00฿40.00n/a5
Mar ’25฿34.75
฿54.80
+57.7%
30.7%฿80.00฿40.00n/a5
Feb ’25฿39.25
฿61.38
+56.4%
25.4%฿80.00฿42.00n/a4
Jan ’25฿44.25
฿61.38
+38.7%
25.4%฿80.00฿42.00n/a4
Dec ’24฿45.25
฿61.38
+35.6%
25.4%฿80.00฿42.00n/a4
Nov ’24฿43.00
฿71.75
+66.9%
20.7%฿81.00฿46.00฿7.804
Oct ’24฿51.00
฿79.00
+54.9%
24.9%฿108.00฿46.00฿9.105
Sep ’24฿62.50
฿83.00
+32.8%
25.8%฿108.00฿46.00฿6.605
Aug ’24฿62.00
฿92.40
+49.0%
11.7%฿108.00฿80.00฿3.825
Jul ’24฿57.00
฿96.20
+68.8%
9.8%฿108.00฿80.00฿12.605
Jun ’24฿60.75
฿96.20
+58.4%
9.8%฿108.00฿80.00฿22.905
May ’24฿67.75
฿101.20
+49.4%
5.1%฿108.00฿93.00฿30.755
Apr ’24฿76.00
฿101.20
+33.2%
5.1%฿108.00฿93.00฿34.255
Mar ’24฿76.50
฿100.00
+30.7%
7.2%฿108.00฿87.00฿34.755
Feb ’24฿88.00
฿101.50
+15.3%
7.7%฿111.00฿87.00฿39.256
Jan ’24฿97.00
฿101.50
+4.6%
7.7%฿111.00฿87.00฿44.256
Dec ’23฿97.25
฿101.83
+4.7%
8.0%฿111.00฿87.00฿45.256
Nov ’23฿98.00
฿96.29
-1.7%
9.1%฿107.00฿78.00฿43.007

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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