OTCPK:SMUU.Y

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

The Siam Commercial Bank Public Company Limited provides various financial products and services. More Details


Snowflake Analysis

Excellent balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Siam Commercial Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SMUU.Y has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.4%

SMUU.Y

0.3%

US Banks

-1.4%

US Market


1 Year Return

-43.7%

SMUU.Y

-28.7%

US Banks

17.8%

US Market

Return vs Industry: SMUU.Y underperformed the US Banks industry which returned -28.5% over the past year.

Return vs Market: SMUU.Y underperformed the US Market which returned 18.5% over the past year.


Shareholder returns

SMUU.YIndustryMarket
7 Day-2.4%0.3%-1.4%
30 Day-11.8%5.8%4.7%
90 Day-10.0%-0.5%8.2%
1 Year-40.6%-43.7%-26.1%-28.7%20.5%17.8%
3 Year-49.3%-54.9%-19.3%-26.0%42.2%32.7%
5 Year-37.5%-47.6%14.8%0.6%83.4%62.7%

Price Volatility Vs. Market

How volatile is Siam Commercial Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Siam Commercial Bank undervalued compared to its fair value and its price relative to the market?

7.96x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SMUU.Y ($8.02) is trading above our estimate of fair value ($6.45)

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


Price To Earnings Ratio

PE vs Industry: SMUU.Y is good value based on its PE Ratio (8x) compared to the US Banks industry average (10x).

PE vs Market: SMUU.Y is good value based on its PE Ratio (8x) compared to the US market (19x).


Price to Earnings Growth Ratio

PEG Ratio: SMUU.Y is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: SMUU.Y is good value based on its PB Ratio (0.5x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is Siam Commercial Bank forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

9.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SMUU.Y's forecast earnings growth (9.8% per year) is above the savings rate (2.2%).

Earnings vs Market: SMUU.Y's earnings (9.8% per year) are forecast to grow slower than the US market (22.2% per year).

High Growth Earnings: SMUU.Y's earnings are forecast to grow, but not significantly.

Revenue vs Market: SMUU.Y's revenue (3.8% per year) is forecast to grow slower than the US market (10.1% per year).

High Growth Revenue: SMUU.Y's revenue (3.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SMUU.Y's Return on Equity is forecast to be low in 3 years time (7%).


Next Steps

  • Explore growth companies in the Banks industry.

Past Performance

How has Siam Commercial Bank performed over the past 5 years?

-6.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SMUU.Y has high quality earnings.

Growing Profit Margin: SMUU.Y's current net profit margins (27.4%) are lower than last year (32.5%).


Past Earnings Growth Analysis

Earnings Trend: SMUU.Y's earnings have declined by 6.1% per year over the past 5 years.

Accelerating Growth: SMUU.Y's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SMUU.Y had negative earnings growth (-33.9%) over the past year, making it difficult to compare to the Banks industry average (-3%).


Return on Equity

High ROE: SMUU.Y's Return on Equity (6.8%) is considered low.


Next Steps

Financial Health

How is Siam Commercial Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: SMUU.Y's Assets to Equity ratio (7.9x) is low.

Allowance for Bad Loans: SMUU.Y has a sufficient allowance for bad loans (146%).

Low Risk Liabilities: 85% of SMUU.Y's liabilities are made up of primarily low risk sources of funding.

Loan Level: SMUU.Y has an appropriate level of Loans to Assets ratio (64%).

Low Risk Deposits: SMUU.Y's Loans to Deposits ratio (85%) is appropriate.

Level of Bad Loans: SMUU.Y has a high level of bad loans (3.7%).


Next Steps

Dividend

What is Siam Commercial Bank current dividend yield, its reliability and sustainability?

8.46%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SMUU.Y's dividend (8.46%) is higher than the bottom 25% of dividend payers in the US market (1.64%).

High Dividend: SMUU.Y's dividend (8.46%) is in the top 25% of dividend payers in the US market (4.68%)


Stability and Growth of Payments

Stable Dividend: SMUU.Y's dividend payments have been volatile in the past 10 years.

Growing Dividend: SMUU.Y's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49%), SMUU.Y's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SMUU.Y's dividends in 3 years are forecast to be covered by earnings (51.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.7yrs

Average management tenure


CEO

Arthid Nanthawithaya (53 yo)

5.5yrs

Tenure

฿4,470,000

Compensation

Mr. Arthid Nanthawithaya has been the Chief Executive Officer of Siam Commercial Bank Public Company Limited since April 02, 2015 and is its Executive Director since April 3, 2015. He was President of Siam ...


Leadership Team

NamePositionTenureCompensationOwnership
Arthid Nanthawithaya
CEO & Executive Director5.5yrs฿4.47mno data
Orapong Thien-Ngern
Chief Executive Officer of Digital Ventures Co. Ltd.0.75yr฿2.54mno data
Arak Sutivong
President1.67yrsno datano data
Sarut Ruttanaporn
President1.67yrsno datano data
Apiphan Charoenanusorn
President1.67yrsno datano data
Manop Sangiambut
First Executive VP & CFO0.33yrno datano data
Jamaree Ketrakool
First EVP & Head of Operationsno datano datano data
Trirat Suwanprateeb
Senior EVP & CTO1.75yrsno datano data
Wallaya Kaewrungruang
Senior EVP and Chief Legal & Control Officerno datano datano data
Thana Thienachariya
Senior EVP1.67yrsno datano data
Patraporn Sirodom
Senior EVP & Chief People Officerno datano datano data
Sarunthorn Chutima
Advisor to CEO - Special Business17.75yrsno datano data

1.7yrs

Average Tenure

54yo

Average Age

Experienced Management: SMUU.Y's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Arthid Nanthawithaya
CEO & Executive Director5.5yrs฿4.47mno data
Vichit Suraphongchai
Chairman of the Board1.5yrs฿5.40mno data
Thaweesak Koanantakool
Independent Director4.5yrs฿5.16mno data
Weerawong Chittmittrapap
Independent Director6.08yrs฿4.96mno data
Kan Trakulhoon
Independent Director4.5yrs฿8.81mno data
Ekamol Kiriwat
Independent Director9.5yrs฿5.20mno data
Krirk Vanikkul
Independent Director4.92yrs฿5.24mno data
Prasan Chuaphanich
Independent Director7.5yrs฿5.56mno data
Pasu Decharin
Independent Director2yrs฿2.87mno data
Satitpong Sukvimol
Director2.33yrs฿3.47mno data
Thumnithi Wanichthanom
Director2.33yrs฿3.44mno data
Prapas Kong-Ied
Director2.25yrs฿3.25mno data

4.5yrs

Average Tenure

65yo

Average Age

Experienced Board: SMUU.Y's board of directors are considered experienced (4.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

The Siam Commercial Bank Public Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: The Siam Commercial Bank Public Company Limited
  • Ticker: SMUU.Y
  • Exchange: OTCPK
  • Founded: 1906
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ฿220.931b
  • Listing Market Cap: ฿7.081b
  • Shares outstanding: 3.40b
  • Website: https://www.scb.co.th

Number of Employees


Location

  • The Siam Commercial Bank Public Company Limited
  • 9 Ratchadapisek Road
  • Jatujak
  • Bangkok
  • 10900
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SMCB.FOTCPK (Pink Sheets LLC)THB10 (ALIEN MARKET)USUSDMar 1993
SCBSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBMar 1993
SCB-FTHAMSE (Bangkok-Alien Market Stock Exchange)THB10 (ALIEN MARKET)THTHBMar 1993
SIPFDB (Deutsche Boerse AG)THB10 (ALIEN MARKET)DEEURMar 1993
SCB-PSET (The Stock Exchange of Thailand)Participating Preferred SharesTHTHBMay 1999
SCB-RSET (The Stock Exchange of Thailand)NON VTG DEP RCPT REP 1 ORD THB10THTHBAug 2001
NVPIDB (Deutsche Boerse AG)NON VTG DEP RCPT REP 1 ORD THB10DEEURAug 2001
SCB-P-RSET (The Stock Exchange of Thailand)THB10 CNV PRF (NVDR)THTHBJan 2003
SMUU.YOTCPK (Pink Sheets LLC)UNSPONSOR ADRUSUSDMar 2011

Biography

The Siam Commercial Bank Public Company Limited provides various financial products and services. It operates in four segments: Corporate, SME, Retail, and Insurance. The company offers deposit products, s ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/22 01:12
End of Day Share Price2020/10/21 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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 here.