R

Ratch Group PCL
SET:RATCH

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Ratch Group PCL
SET:RATCH
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Price: 30.5 THB -0.81%
Market Cap: ฿66.3B

EV/EBITDA

20.7
Current
12%
More Expensive
vs 3-y median of 18.5

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

EV/EBITDA
20.7
=
Enterprise Value
฿130.9B
/
EBITDA
฿6.3B

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

EV/EBITDA
20.7
=
Enterprise Value
฿130.9B
/
EBITDA
฿6.3B

Valuation Scenarios

Ratch Group PCL is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (18.5), the stock would be worth ฿27.29 (11% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-58%
Maximum Upside
No Upside Scenarios
Average Downside
32%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 20.7 ฿30.5
0%
3-Year Average 18.5 ฿27.29
-11%
5-Year Average 19 ฿27.97
-8%
Industry Average 9.9 ฿14.56
-52%
Country Average 8.6 ฿12.68
-58%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
฿130.9B
/
Oct 2025
฿6.3B
=
20.7
Current
฿130.9B
/
Dec 2025
฿9.4B
=
13.9
Forward
฿130.9B
/
Dec 2026
฿8.7B
=
15
Forward
฿130.9B
/
Dec 2027
฿7B
=
18.8
Forward

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

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
TH
Ratch Group PCL
SET:RATCH
66.3B THB 20.7 11
US
Vistra Corp
NYSE:VST
51.8B USD 13.6 54
SA
ACWA Power Co
SAU:2082
184.5B SAR 73.8 103.5
IN
NTPC Ltd
NSE:NTPC
3.5T INR 9.8 14.6
IN
Adani Power Ltd
NSE:ADANIPOWER
2.8T INR 16.1 26.2
CN
CGN Power Co Ltd
SZSE:003816
193.9B CNY 16.5 20.6
CN
China National Nuclear Power Co Ltd
SSE:601985
176.1B CNY 20.5 20.4
TH
Gulf Energy Development PCL
SET:GULF
713.4B THB 39.4 34.4
DE
Uniper SE
XETRA:UN0
15B EUR 3.7 -47
US
Talen Energy Corp
NASDAQ:TLN
15.4B USD 28.6 67.8
CN
SDIC Power Holdings Co Ltd
SSE:600886
103.7B CNY 12.6 15.9

Market Distribution

Higher than 85% of companies in Thailand
Percentile
85th
Based on 406 companies
85th percentile
20.7
Low
0.2 — 6.6
Typical Range
6.6 — 11.4
High
11.4 —
Distribution Statistics
Thailand
Min 0.2
30th Percentile 6.6
Median 8.6
70th Percentile 11.4
Max 3 584.8

Ratch Group PCL
Glance View

Market Cap
66.3B THB
Industry
Utilities

Ratch Group Public Company Limited, originally established as a subsidiary of the state-owned Electricity Generating Authority of Thailand, has transpired into one of Southeast Asia's prominent independent power producers. This evolution is rooted deeply in its strategic focus on harnessing the growing demand for energy across the region. The company generates revenue primarily by operating, developing, and investing in a diversified portfolio of power plants that include traditional thermal and hydroelectric assets, as well as renewable energy ventures such as wind and solar. Its comprehensive approach combines both conventional and green energy sources, enabling the company to adapt and thrive amidst the global transition towards sustainability. By providing stable and reliable electricity, Ratch Group ensures a steady cash flow with long-term power purchasing agreements, mostly secured with governmental and large industrial clients, thus underpinning its financial stability. In recent years, Ratch Group has strategically expanded its footprint beyond Thailand, making calculated investments into neighboring countries such as Laos, Australia, and Indonesia to capitalize on the broader regional demand for power. This expansion strategy is emblematic of its agility and vision to align with global energy trends, particularly the pivot towards renewable energy solutions. The company’s forward-looking approach is not only cemented in its diversified energy mix but also in its commitment to modernizing and optimizing its existing infrastructure, adopting advanced technological solutions to enhance operational efficiencies and performance. Even as the energy sector faces increasing pressure to adapt to environmental concerns, Ratch Group navigates these challenges by pursuing environmentally responsible projects, thereby maintaining its competitiveness and ensuring that it remains at the forefront of the industry.

RATCH Intrinsic Value
21.71 THB
Overvaluation 29%
Intrinsic Value
Price
R