B

BGrimm Power PCL
SET:BGRIM

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BGrimm Power PCL
SET:BGRIM
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Price: 12.2 THB
Market Cap: ฿31.8B

EV/S

2.1
Current
16%
Cheaper
vs 3-y average of 2.5

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

EV/S
2.1
=
Enterprise Value
฿123.9B
/
Revenue
฿55.4B

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

EV/S
2.1
=
Enterprise Value
฿123.9B
/
Revenue
฿55.4B

Valuation Scenarios

BGrimm Power PCL is trading below its 3-year average

If EV/S returns to its 3-Year Average (2.5), the stock would be worth ฿14.57 (19% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-12%
Maximum Upside
+67%
Average Upside
25%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 2.1 ฿12.2
0%
3-Year Average 2.5 ฿14.57
+19%
5-Year Average 2.6 ฿15.38
+26%
Industry Average 3.5 ฿20.32
+67%
Country Average 1.8 ฿10.69
-12%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
฿123.9B
/
Jan 2026
฿55.4B
=
2.1
Current
฿123.9B
/
Dec 2026
฿57.2B
=
2.2
Forward
฿123.9B
/
Dec 2027
฿58.7B
=
2.1
Forward
฿123.9B
/
Dec 2028
฿62.1B
=
2
Forward

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

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
Market Cap EV/S P/E
TH
BGrimm Power PCL
SET:BGRIM
31.8B THB 2.1 42.1
US
Vistra Corp
NYSE:VST
52.7B USD 4 70
SA
ACWA Power Co
SAU:2082
184.5B SAR 27.7 99.6
IN
Adani Power Ltd
NSE:ADANIPOWER
4.2T INR 8.1 36.1
IN
NTPC Ltd
NSE:NTPC
3.9T INR 3 16.2
CN
CGN Power Co Ltd
SZSE:003816
233.3B CNY 6 23.9
TH
Gulf Energy Development PCL
SET:GULF
840.4B THB 8.9 39.3
CN
China National Nuclear Power Co Ltd
SSE:601985
184.3B CNY 7.1 21.4
DE
Uniper SE
XETRA:UN0
17.5B EUR 0.2 12.6
CN
SDIC Power Holdings Co Ltd
SSE:600886
108.1B CNY 4.3 16.5
US
Talen Energy Corp
NASDAQ:TLN
15.5B USD 8.4 -71.6

Market Distribution

In line with most companies in Thailand
Percentile
55th
Based on 392 companies
55th percentile
2.1
Low
0 — 1
Typical Range
1 — 3.1
High
3.1 —
Distribution Statistics
Thailand
Min 0
30th Percentile 1
Median 1.8
70th Percentile 3.1
Max 309.3

BGrimm Power PCL
Glance View

Market Cap
31.8B 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 48%
Intrinsic Value
Price ฿12.2
B
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