TCAP Relative Valuation - Thanachart Capital PCL

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Price: 57.5 THB

Market Cap: ฿60.3B

T	Thanachart Capital PCL SET:TCAP	TH

Multiples-Based Value

The Multiples-Based Value of one TCAP stock under the Base Case scenario is 165.49 THB. Compared to the current market price of 57.5 THB, Thanachart Capital PCL is Undervalued by 65%.

Multiples-Based Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is relative valuation?

How is Multiples-Based Value calculated?

TCAP Multiples-Based Value

Base Case

Undervaluation 65%

Multiples-Based Value

Price ฿57.5

Worst Case

Base Case

Best Case

Valuation Multiples

View Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
TH	T	Thanachart Capital PCL SET:TCAP	60.3B THB	2.7	7.8	10.8	11
US		JPMorgan Chase & Co NYSE:JPM	796.6B USD	4.4	14.3	0	0
ZA	S	Standard Bank Group Ltd JSE:SBK	503.6B ZAR	1.7	10.3	0	0
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	489.2B ZAR	7.9	32	0	0
CN		Industrial and Commercial Bank of China Ltd SSE:601398	2.7T CNY	3.1	7.4	0	0
CN		China Construction Bank Corp SSE:601939	2.5T CNY	3.1	7.4	0	0
US		Bank of America Corp NYSE:BAC	361.1B USD	3.2	12.4	0	0
CN		Agricultural Bank of China Ltd SSE:601288	2.4T CNY	3.2	8.7	0	0
UK		HSBC Holdings PLC LSE:HSBA	218.6B GBP	3.3	13.9	0	0
CN		Bank of China Ltd SSE:601988	1.9T CNY	2.7	8.2	0	0
US		Wells Fargo & Co NYSE:WFC	253.1B USD	3	12.4	0	0

				Revenue Growth	P/S to Growth
TH	T	Thanachart Capital PCL SET:TCAP	Average P/S: 3.5 2.7	-51%	N/A
US		JPMorgan Chase & Co NYSE:JPM	4.4	6%	0.7
ZA	S	Standard Bank Group Ltd JSE:SBK	1.7	-8%	N/A
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	7.9	8%	1
CN		Industrial and Commercial Bank of China Ltd SSE:601398	3.1	4%	0.8
CN		China Construction Bank Corp SSE:601939	3.1	N/A	N/A
US		Bank of America Corp NYSE:BAC	3.2	6%	0.5
CN		Agricultural Bank of China Ltd SSE:601288	3.2	5%	0.6
UK		HSBC Holdings PLC LSE:HSBA	3.3	-4%	N/A
CN		Bank of China Ltd SSE:601988	2.7	3%	0.9
US		Wells Fargo & Co NYSE:WFC	3	5%	0.6

				Earnings Growth	PEG
TH	T	Thanachart Capital PCL SET:TCAP	Average P/E: 12.3 7.8	4%	1.9
US		JPMorgan Chase & Co NYSE:JPM	14.3	8%	1.8
ZA	S	Standard Bank Group Ltd JSE:SBK	10.3	N/A	N/A
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	32	20%	1.6
CN		Industrial and Commercial Bank of China Ltd SSE:601398	7.4	2%	3.7
CN		China Construction Bank Corp SSE:601939	7.4	5%	1.5
US		Bank of America Corp NYSE:BAC	12.4	12%	1
CN		Agricultural Bank of China Ltd SSE:601288	8.7	1%	8.7
UK		HSBC Holdings PLC LSE:HSBA	13.9	17%	0.8
CN		Bank of China Ltd SSE:601988	8.2	0%	N/A
US		Wells Fargo & Co NYSE:WFC	12.4	11%	1.1

				EBITDA Growth	EV/EBITDA to Growth
TH	T	Thanachart Capital PCL SET:TCAP	Average EV/EBITDA: 10.8 10.8	N/A	N/A
US		JPMorgan Chase & Co NYSE:JPM	Not Available	N/A	N/A
ZA	S	Standard Bank Group Ltd JSE:SBK	Not Available	N/A	N/A
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	Not Available	N/A	N/A
CN		Industrial and Commercial Bank of China Ltd SSE:601398	Not Available	N/A	N/A
CN		China Construction Bank Corp SSE:601939	Not Available	N/A	N/A
US		Bank of America Corp NYSE:BAC	Not Available	N/A	N/A
CN		Agricultural Bank of China Ltd SSE:601288	Not Available	N/A	N/A
UK		HSBC Holdings PLC LSE:HSBA	Not Available	N/A	N/A
CN		Bank of China Ltd SSE:601988	Not Available	N/A	N/A
US		Wells Fargo & Co NYSE:WFC	Not Available	N/A	N/A

				EBIT Growth	EV/EBIT to Growth
TH	T	Thanachart Capital PCL SET:TCAP	Average EV/EBIT: 11 11	10%	1.1
US		JPMorgan Chase & Co NYSE:JPM	Not Available	N/A	N/A
ZA	S	Standard Bank Group Ltd JSE:SBK	Not Available	N/A	N/A
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	Not Available	N/A	N/A
CN		Industrial and Commercial Bank of China Ltd SSE:601398	Not Available	N/A	N/A
CN		China Construction Bank Corp SSE:601939	Not Available	N/A	N/A
US		Bank of America Corp NYSE:BAC	Not Available	N/A	N/A
CN		Agricultural Bank of China Ltd SSE:601288	Not Available	N/A	N/A
UK		HSBC Holdings PLC LSE:HSBA	Not Available	N/A	N/A
CN		Bank of China Ltd SSE:601988	Not Available	N/A	N/A
US		Wells Fargo & Co NYSE:WFC	Not Available	N/A	N/A

Thanachart Capital PCL
SET:TCAP

Multiples-Based Value

Valuation Multiples

Multiples Across Competitors

TCAP Competitors Multiples
Thanachart Capital PCL Competitors

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Thanachart Capital PCL SET:TCAP

Multiples-Based Value

Valuation Multiples

Multiples Across Competitors

TCAP Competitors Multiples Thanachart Capital PCL Competitors

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Thanachart Capital PCL
SET:TCAP

TCAP Competitors Multiples
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