R

Ratch Group PCL
SET:RATCH

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Ratch Group PCL
SET:RATCH
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Price: 29.25 THB -0.85% Market Closed
Market Cap: ฿63.6B

P/S

2.3
Current
36%
More Expensive
vs 3-y median of 1.7

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
2.3
=
Market Cap
฿61.4B
/
Revenue
฿27.1B

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
2.3
=
Market Cap
฿61.4B
/
Revenue
฿27.1B

Valuation Scenarios

Ratch Group PCL is trading above its 3-year average

If P/S returns to its 3-Year Average (1.7), the stock would be worth ฿21.57 (26% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-43%
Maximum Upside
No Upside Scenarios
Average Downside
31%
Scenario P/S Value Implied Price Upside/Downside
Current Multiple 2.3 ฿29.25
0%
3-Year Average 1.7 ฿21.57
-26%
5-Year Average 1.7 ฿21.57
-26%
Industry Average 1.7 ฿21.4
-27%
Country Average 1.3 ฿16.73
-43%

Forward P/S
Today’s price vs future revenue

Today's Market Cap Revenue Forward P/S
฿61.4B
/
Jan 2026
฿27.1B
=
2.3
Current
฿61.4B
/
Dec 2026
฿36.2B
=
1.7
Forward
฿61.4B
/
Dec 2027
฿26.8B
=
2.3
Forward
฿61.4B
/
Dec 2028
฿32.6B
=
1.9
Forward

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

Peer Comparison

All Multiples
P/S
P/E
All Countries
Close
Market Cap P/S P/E
TH
Ratch Group PCL
SET:RATCH
63.6B THB 2.3 10.2
US
Vistra Corp
NYSE:VST
55.3B USD 3.1 73.5
SA
ACWA Power Co
SAU:2082
184.5B SAR 24.9 99.6
IN
NTPC Ltd
NSE:NTPC
3.8T INR 2 15.8
IN
Adani Power Ltd
NSE:ADANIPOWER
3.7T INR 7.1 33.4
CN
CGN Power Co Ltd
SZSE:003816
223.2B CNY 2.9 22.9
TH
Gulf Energy Development PCL
SET:GULF
862.8B THB 7.1 40.3
CN
China National Nuclear Power Co Ltd
SSE:601985
180.2B CNY 2.2 20.7
DE
Uniper SE
XETRA:UN0
16.6B EUR 0.3 11.9
US
Talen Energy Corp
NASDAQ:TLN
16.7B USD 6.5 -77
CN
SDIC Power Holdings Co Ltd
SSE:600886
106.7B CNY 2 16.3

Market Distribution

Higher than 73% of companies in Thailand
Percentile
73nd
Based on 423 companies
73nd percentile
2.3
Low
0 — 0.7
Typical Range
0.7 — 2.2
High
2.2 —
Distribution Statistics
Thailand
Min 0
30th Percentile 0.7
Median 1.3
70th Percentile 2.2
Max 268

Ratch Group PCL
Glance View

Market Cap
63.6B 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
17.44 THB
Overvaluation 40%
Intrinsic Value
Price ฿29.25
R
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