TCAP Relative Valuation - Thanachart Capital PCL

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Price: 58.5 THB 1.74% Market Closed

Market Cap: ฿61.3B

T	Thanachart Capital PCL SET:TCAP	TH
	Olav Thon Eiendomsselskap ASA OSE:OLT	NO
N	Ningbo Boway Alloy Material Co Ltd SSE:601137	CN

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 58.5 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 ฿58.5

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	61.3B THB	2.8	7.9	10.9	11.1
US		JPMorgan Chase & Co NYSE:JPM	801.8B USD	4.5	14.9	0	0
ZA	S	Standard Bank Group Ltd JSE:SBK	506.2B ZAR	1.7	10.3	0	0
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	488.3B ZAR	7.9	31.9	0	0
CN		Industrial and Commercial Bank of China Ltd SSE:601398	2.6T CNY	3	7.3	0	0
US		Bank of America Corp NYSE:BAC	362.6B USD	3.3	12.8	0	0
CN		China Construction Bank Corp SSE:601939	2.4T CNY	3.1	7.3	0	0
CN		Agricultural Bank of China Ltd SSE:601288	2.3T CNY	3.1	8.5	0	0
UK		HSBC Holdings PLC LSE:HSBA	217.7B GBP	3.5	14.7	0	0
CN		Bank of China Ltd SSE:601988	1.9T CNY	2.7	8.1	0	0
US		Wells Fargo & Co NYSE:WFC	252.8B USD	3.1	12.9	0	0

				Revenue Growth	P/S to Growth
TH	T	Thanachart Capital PCL SET:TCAP	Average P/S: 3.5 2.8	-51%	N/A
US		JPMorgan Chase & Co NYSE:JPM	4.5	6%	0.8
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	4%	0.8
US		Bank of America Corp NYSE:BAC	3.3	6%	0.5
CN		China Construction Bank Corp SSE:601939	3.1	N/A	N/A
CN		Agricultural Bank of China Ltd SSE:601288	3.1	5%	0.6
UK		HSBC Holdings PLC LSE:HSBA	3.5	-4%	N/A
CN		Bank of China Ltd SSE:601988	2.7	3%	0.9
US		Wells Fargo & Co NYSE:WFC	3.1	5%	0.6

				Earnings Growth	PEG
TH	T	Thanachart Capital PCL SET:TCAP	Average P/E: 12.4 7.9	4%	2
US		JPMorgan Chase & Co NYSE:JPM	14.9	8%	1.9
ZA	S	Standard Bank Group Ltd JSE:SBK	10.3	N/A	N/A
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	31.9	20%	1.6
CN		Industrial and Commercial Bank of China Ltd SSE:601398	7.3	2%	3.7
US		Bank of America Corp NYSE:BAC	12.8	12%	1.1
CN		China Construction Bank Corp SSE:601939	7.3	5%	1.5
CN		Agricultural Bank of China Ltd SSE:601288	8.5	1%	8.5
UK		HSBC Holdings PLC LSE:HSBA	14.7	17%	0.9
CN		Bank of China Ltd SSE:601988	8.1	0%	N/A
US		Wells Fargo & Co NYSE:WFC	12.9	11%	1.2

				EBITDA Growth	EV/EBITDA to Growth
TH	T	Thanachart Capital PCL SET:TCAP	Average EV/EBITDA: 10.9 10.9	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
US		Bank of America Corp NYSE:BAC	Not Available	N/A	N/A
CN		China Construction Bank Corp SSE:601939	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: 11.1 11.1	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
US		Bank of America Corp NYSE:BAC	Not Available	N/A	N/A
CN		China Construction Bank Corp SSE:601939	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
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TCAP Competitors Multiples
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