Thai Beverage Public Company Limited

OTCPK:TBVP.F Stock Report

Market Cap: US$9.8b

Thai Beverage Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: TBVP.F ($0.38) is trading below our estimate of fair value ($0.51)

Significantly Below Fair Value: TBVP.F is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TBVP.F?

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

The above table shows the Price to Earnings ratio for TBVP.F. This is calculated by dividing TBVP.F's market cap by their current earnings.
What is TBVP.F's PE Ratio?
PE Ratio12.7x
Earnings฿26.53b
Market Cap฿337.25b

Price to Earnings Ratio vs Peers

How does TBVP.F's PE Ratio compare to its peers?

The above table shows the PE ratio for TBVP.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average33.3x
BF.B Brown-Forman
19.2x3.4%US$18.9b
STZ Constellation Brands
75.3x31.8%US$43.6b
NAPA Duckhorn Portfolio
29.1x28.1%US$1.6b
MGPI MGP Ingredients
9.5x-3.8%US$1.0b
TBVP.F Thai Beverage
12.7x8.0%US$13.1b

Price-To-Earnings vs Peers: TBVP.F is good value based on its Price-To-Earnings Ratio (12.7x) compared to the peer average (33.3x).

Price to Earnings Ratio vs Industry

How does TBVP.F's PE Ratio compare vs other companies in the North American Beverage Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TBVP.F 12.7xIndustry Avg. 17.9xNo. of Companies3PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TBVP.F is good value based on its Price-To-Earnings Ratio (12.7x) compared to the Global Beverage industry average (17.9x).

Price to Earnings Ratio vs Fair Ratio

What is TBVP.F'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.

TBVP.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.7x
Fair PE Ratio24.6x

Price-To-Earnings vs Fair Ratio: TBVP.F is good value based on its Price-To-Earnings Ratio (12.7x) compared to the estimated Fair Price-To-Earnings Ratio (24.6x).

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 TBVP.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$0.38
US$0.50
+31.0%
11.5%US$0.62US$0.43n/a12
Nov ’25US$0.40
US$0.50
+25.6%
13.4%US$0.65US$0.40n/a13
Oct ’25US$0.41
US$0.50
+22.5%
13.0%US$0.64US$0.39n/a13
Sep ’25US$0.41
US$0.49
+19.3%
13.0%US$0.63US$0.38n/a13
Aug ’25US$0.40
US$0.48
+21.5%
13.0%US$0.61US$0.38n/a13
Jul ’25US$0.31
US$0.47
+50.7%
13.2%US$0.59US$0.37n/a13
Jun ’25US$0.36
US$0.47
+30.3%
12.8%US$0.59US$0.37n/a13
May ’25US$0.32
US$0.48
+50.9%
14.2%US$0.59US$0.36n/a14
Apr ’25US$0.33
US$0.49
+50.9%
13.9%US$0.61US$0.37n/a14
Mar ’25US$0.35
US$0.50
+41.5%
14.2%US$0.61US$0.37n/a14
Feb ’25US$0.36
US$0.54
+50.9%
11.1%US$0.66US$0.44n/a15
Jan ’25US$0.40
US$0.55
+38.2%
10.7%US$0.68US$0.46n/a14
Dec ’24US$0.36
US$0.55
+51.7%
10.7%US$0.67US$0.45n/a14
Nov ’24US$0.39
US$0.57
+45.0%
7.9%US$0.65US$0.48US$0.4014
Oct ’24US$0.45
US$0.56
+25.0%
8.0%US$0.64US$0.47US$0.4114
Sep ’24US$0.44
US$0.58
+32.5%
8.3%US$0.67US$0.49US$0.4113
Aug ’24US$0.44
US$0.60
+37.1%
9.3%US$0.67US$0.47US$0.4013
Jul ’24US$0.45
US$0.59
+31.1%
9.7%US$0.69US$0.46US$0.3114
Jun ’24US$0.43
US$0.60
+39.4%
8.5%US$0.70US$0.53US$0.3614
May ’24US$0.48
US$0.62
+29.8%
7.3%US$0.71US$0.56US$0.3215
Apr ’24US$0.48
US$0.62
+30.5%
7.2%US$0.71US$0.56US$0.3315
Mar ’24US$0.46
US$0.62
+33.4%
7.0%US$0.71US$0.55US$0.3515
Feb ’24US$0.54
US$0.66
+23.3%
6.8%US$0.74US$0.59US$0.3614
Jan ’24US$0.48
US$0.63
+30.0%
7.6%US$0.70US$0.54US$0.4014
Dec ’23US$0.46
US$0.64
+39.0%
13.4%US$0.90US$0.54US$0.3615
Nov ’23US$0.43
US$0.59
+39.4%
12.9%US$0.82US$0.51US$0.3914

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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