Intangible Assets - TISCO Financial Group PCL (SET:TISCO)

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Price: 112.5 THB 1.35% Market Closed

Market Cap: ฿90.1B

TISCO Financial Group PCL
Intangible Assets

Quarterly

Annual

Adjust for Inflation

Balance Sheet

TISCO Financial Group PCL
Intangible Assets Peer Comparison

Company		Intangible Assets	CAGR 3Y	CAGR 5Y	CAGR 10Y
T	TISCO Financial Group PCL SET:TISCO	Intangible Assets ฿44.2m	CAGR 3-Years -24%	CAGR 5-Years -27%	CAGR 10-Years -19%
T	TMBThanachart Bank PCL SET:TTB	Intangible Assets ฿25.3B	CAGR 3-Years 42%	CAGR 5-Years 25%	CAGR 10-Years 35%
	Kasikornbank PCL SET:KBANK	Intangible Assets ฿31.5B	CAGR 3-Years 12%	CAGR 5-Years 10%	CAGR 10-Years 4%
	Krung Thai Bank PCL SET:KTB	Intangible Assets ฿21B	CAGR 3-Years 11%	CAGR 5-Years 28%	CAGR 10-Years 16%
	Bangkok Bank PCL SET:BBL	Intangible Assets ฿22.5B	CAGR 3-Years 20%	CAGR 5-Years 55%	CAGR 10-Years 48%
S	SCB X PCL SET:SCB	Intangible Assets ฿22.8B	CAGR 3-Years 4%	CAGR 5-Years 6%	CAGR 10-Years 28%

TISCO Financial Group PCL
Glance View

Market Cap

90.1B THB

Industry

Banking

In the bustling milieu of Thailand's financial landscape, TISCO Financial Group PCL stands as a venerable institution with a rich history dating back to 1969. Originally born as a finance company, it gradually transformed into a full-fledged financial services provider, cementing its position as a stalwart within the industry. Operating under a holding company structure, TISCO's core strength lies in its robust banking services, which encompass an array of offerings from retail and commercial banking to investment and wealth management solutions. With a calculated focus on efficiency and innovation, TISCO caters to both individuals and corporates, addressing their diverse financial needs through a mixture of loans, deposits, and advisory services. The company’s revenue engine purrs smoothly through a balanced blend of interest income, predominantly from loans, and non-interest income derived from fee-based services. TISCO’s astute management of credit risk and asset quality has enabled it to maintain high profitability levels, while its strategic emphasis on wealth management and bancassurance fortifies its income streams. The group's dedication to technological integration ensures that its services remain relevant and competitive, fostering seamless customer experiences. With a strong capital base and an unwavering commitment to delivering value, TISCO continues to navigate the dynamic economic currents, driving financial solutions that underwrite the ambitions of its clientele.

View TISCO Analysis

TISCO Intrinsic Value

Undervaluation 20%

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.

TISCO Financial Group PCL
SET:TISCO

TISCO Financial Group PCL
Intangible Assets

TISCO Financial Group PCL
Intangible Assets Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

TISCO Financial Group PCL
Glance View

See Also

What is TISCO Financial Group PCL's Intangible Assets?

Intangible Assets
44.2m THB

What is TISCO Financial Group PCL's Intangible Assets growth rate?

Intangible Assets CAGR 10Y
-19%

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TISCO Financial Group PCL SET:TISCO

TISCO Financial Group PCL Intangible Assets

TISCO Financial Group PCL Intangible Assets Peer Comparison

Competitors Analysis Latest Figures & CAGR of Competitors

TISCO Financial Group PCL Glance View

See Also

What is TISCO Financial Group PCL's Intangible Assets? Intangible Assets 44.2m THB

What is TISCO Financial Group PCL's Intangible Assets growth rate? Intangible Assets CAGR 10Y -19%

Company

Help

Tools

Stocks

TISCO Financial Group PCL
SET:TISCO

TISCO Financial Group PCL
Intangible Assets

TISCO Financial Group PCL
Intangible Assets Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

TISCO Financial Group PCL
Glance View

What is TISCO Financial Group PCL's Intangible Assets?

Intangible Assets
44.2m THB

What is TISCO Financial Group PCL's Intangible Assets growth rate?

Intangible Assets CAGR 10Y
-19%