B

BGrimm Power PCL
SET:BGRIM

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BGrimm Power PCL
SET:BGRIM
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Price: 11.9 THB 0.85% Market Closed
Market Cap: ฿31B

EV/EBIT

15.1
Current
4%
Cheaper
vs 3-y median of 15.8

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
15.1
=
Enterprise Value
฿123.9B
/
EBIT
฿7.6B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
15.1
=
Enterprise Value
฿123.9B
/
EBIT
฿7.6B

Valuation Scenarios

BGrimm Power PCL is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (15.8), the stock would be worth ฿12.41 (4% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-23%
Maximum Upside
+36%
Average Upside
3%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 15.1 ฿11.9
0%
3-Year Average 15.8 ฿12.41
+4%
5-Year Average 20.6 ฿16.17
+36%
Industry Average 14.1 ฿11.12
-7%
Country Average 11.7 ฿9.17
-23%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
฿123.9B
/
Jan 2026
฿7.6B
=
15.1
Current
฿123.9B
/
Dec 2026
฿8.6B
=
14.4
Forward
฿123.9B
/
Dec 2027
฿9B
=
13.8
Forward
฿123.9B
/
Dec 2028
฿6.8B
=
18.3
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
TH
BGrimm Power PCL
SET:BGRIM
31B THB 15.1 41.1
US
Vistra Corp
NYSE:VST
53.5B USD 33.6 71.1
SA
ACWA Power Co
SAU:2082
184.5B SAR 80.2 99.6
IN
NTPC Ltd
NSE:NTPC
3.7T INR 15.4 15.5
IN
Adani Power Ltd
NSE:ADANIPOWER
3.4T INR 24.4 30.5
CN
CGN Power Co Ltd
SZSE:003816
225.2B CNY 21.8 23.1
TH
Gulf Energy Development PCL
SET:GULF
888.9B THB 55.9 41.6
CN
China National Nuclear Power Co Ltd
SSE:601985
178.7B CNY 19.9 20.8
DE
Uniper SE
XETRA:UN0
16.9B EUR 15.6 12.1
CN
SDIC Power Holdings Co Ltd
SSE:600886
106.4B CNY 12.8 16.3
US
Talen Energy Corp
NASDAQ:TLN
14.9B USD -729.3 -68.8
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
TH
B
BGrimm Power PCL
SET:BGRIM
Average EV/EBIT: 29.5
15.1
-4%
N/A
US
Vistra Corp
NYSE:VST
33.6
42%
0.8
SA
ACWA Power Co
SAU:2082
80.2
43%
1.9
IN
NTPC Ltd
NSE:NTPC
15.4
8%
1.9
IN
Adani Power Ltd
NSE:ADANIPOWER
24.4
12%
2
CN
CGN Power Co Ltd
SZSE:003816
21.8
16%
1.4
TH
G
Gulf Energy Development PCL
SET:GULF
55.9
11%
5.1
CN
China National Nuclear Power Co Ltd
SSE:601985
19.9
7%
2.8
DE
Uniper SE
XETRA:UN0
15.6
3%
5.2
CN
SDIC Power Holdings Co Ltd
SSE:600886
12.8
1%
12.8
US
Talen Energy Corp
NASDAQ:TLN
Negative Multiple: -729.3 N/A N/A

Market Distribution

In line with most companies in Thailand
Percentile
68th
Based on 357 companies
68th percentile
15.1
Low
0.4 — 8.7
Typical Range
8.7 — 15.7
High
15.7 —
Distribution Statistics
Thailand
Min 0.4
30th Percentile 8.7
Median 11.7
70th Percentile 15.7
Max 2 524.8

BGrimm Power PCL
Glance View

Market Cap
31B THB
Industry
Utilities

BGrimm Power PCL emerged from the shadows of Thailand's industrial landscape as a pivotal player in the Southeast Asian energy sector. With roots tracing back to the 19th century in Bangkok, BGrimm originally embarked on its journey as a trading firm, gradually evolving into a powerhouse in power generation. Today, it operates a diversified portfolio of power plants, with a robust focus on natural gas, renewable energy, and combined heat and power projects. The company’s operations primarily hinge upon producing and supplying electricity to Thailand's stable yet ambitious industrial sector, serving a multitude of clients through long-term contracts. This business model not only ensures consistent revenue streams but also aligns BGrimm with sustainable development goals, as a significant portion of its investments are channeled into renewable energy projects including solar and wind. At the heart of BGrimm's strategy lies a mission to harness its engineering prowess and financial acumen to tap into the evolving energy demands of Thailand and its neighbors. The company generates income by selling electricity to both government-owned and private utilities, leveraging power purchase agreements that often extend for decades, thus guaranteeing financial stability and predictability. Furthermore, their commitment to expanding in international markets, particularly in countries with burgeoning energy needs, poises them for future growth. By steadily expanding their footprint in the region, BGrimm Power PCL not only reinforces its status in the power generation arena but also reflects a vision deeply embedded in regional collaborations and sustainable energy transformation.

BGRIM Intrinsic Value
23.67 THB
Undervaluation 50%
Intrinsic Value
Price ฿11.9
B
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