Goodwill - Prima Marine PCL (SET:PRM)

Watchlist Manager

Watchlist

Price: 7.2 THB Market Closed

Market Cap: ฿18B

Prima Marine PCL
Goodwill

Quarterly

Annual

Adjust for Inflation

Balance Sheet

Prima Marine PCL
Goodwill Peer Comparison

Company		Goodwill	CAGR 3Y	CAGR 5Y	CAGR 10Y
P	Prima Marine PCL SET:PRM	Goodwill ฿1.6B	CAGR 3-Years 2%	CAGR 5-Years 9%	CAGR 10-Years N/A
S	Sea Oil PCL SET:SEAOIL	Goodwill N/A	CAGR 3-Years N/A	CAGR 5-Years N/A	CAGR 10-Years N/A
P	Power Solution Technologies PCL SET:PSTC	Goodwill ฿567.9m	CAGR 3-Years 0%	CAGR 5-Years 0%	CAGR 10-Years N/A
W	WP Energy PCL SET:WP	Goodwill ฿138.2m	CAGR 3-Years 0%	CAGR 5-Years -13%	CAGR 10-Years N/A
S	Siamgas and Petrochemicals PCL SET:SGP	Goodwill ฿2.7B	CAGR 3-Years 0%	CAGR 5-Years 0%	CAGR 10-Years 6%
V	V L Enterprise PCL SET:VL	Goodwill N/A	CAGR 3-Years N/A	CAGR 5-Years N/A	CAGR 10-Years N/A

Prima Marine PCL
Glance View

Economic Moat

None

Market Cap

18B THB

Industry

Energy

Prima Marine Public Co., Ltd. is engaged in provision of oil tankers and related maritime services. The company is headquartered in Bangkok, Bangkok Metropolis. The company went IPO on 2017-09-14. The firm also provides services of offshore support vessels for petroleum exploration and production, and ship management. The company operates through four segments: Oil and Petrochemical Tanker Business (Trading Business), Floating Storage Unit (FSU) Business (FSU Business), Offshore Support Vessel Business (Offshore Business) and Ship Management Business (SM Business). Its Trading Business provides transportation services for crude oil, refined oil products, and liquefied petrochemicals to customers that operate in the oil refinery business. FSU Business provides storage of petroleum products and also provides oil blending service. Its SM Business is engaged in the ship management, ship agent, recruitment and transportation services for crews.

View PRM Analysis

PRM Intrinsic Value

Undervaluation 51%

Intrinsic Value

Price

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

The AI Assistant may sometimes provide inaccurate information.

Make your own investment decisions or consult a licensed financial advisor.

Prima Marine PCL
SET:PRM

Prima Marine PCL
Goodwill

Prima Marine PCL
Goodwill Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

Prima Marine PCL
Glance View

See Also

What is Prima Marine PCL's Goodwill?

Goodwill
1.6B THB

What is Prima Marine PCL's Goodwill growth rate?

Goodwill CAGR 5Y
9%

Company

Help

Tools

Stocks

52 Week Range	5.25 7.75
Price Target

Prima Marine PCL SET:PRM

Prima Marine PCL Goodwill

Prima Marine PCL Goodwill Peer Comparison

Competitors Analysis Latest Figures & CAGR of Competitors

Prima Marine PCL Glance View

See Also

What is Prima Marine PCL's Goodwill? Goodwill 1.6B THB

What is Prima Marine PCL's Goodwill growth rate? Goodwill CAGR 5Y 9%

Company

Help

Tools

Stocks

Prima Marine PCL
SET:PRM

Prima Marine PCL
Goodwill

Prima Marine PCL
Goodwill Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

Prima Marine PCL
Glance View

What is Prima Marine PCL's Goodwill?

Goodwill
1.6B THB

What is Prima Marine PCL's Goodwill growth rate?

Goodwill CAGR 5Y
9%