Bangkok Union Insurance Public Co. Ltd. (BUI) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Bangkok Union Insurance Public Co. Ltd. stock THB 19.20, price THB 12.00, upside +60.0%, quality 59 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 4.51 THB – 18.51 THB · fair‑value band 13.02 THB – 24.00 THB · the 12.00 THB price screens below the 19.20 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 3, 2026.
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Bangkok Union Insurance Public Company Limited provides general insurance products in Thailand.
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It operates through Non-Life Insurance Business " Fire, Non-Life Insurance Business " Marine and Cargo, Non-Life Insurance Business " Motor, Non-Life Insurance Business " Miscellaneous, and Office Space Rental Business segments.
The company offers fire insurance comprising fire dwelling house and property all risks insurance; car insurance consisting of compulsory and voluntary motor insurance; and marine and transportation insurance, such as international and inland cargo, carrier's liability, and marine hull and machinery insurance.
It also provides miscellaneous insurance comprising health; personal accident insurance, including individual, group, student, and travel accident insurance products; public liability insurance; plate glass insurance; golfers' indemnity insurance; burglary insurance; money insurance; fidelity guarantee insurance; engineering insurance, such as contract works, machinery, boiler, contractors' equipment, and electronic equipment insurance; and compulsory passenger boat insurance.
In addition, the company leases office space. Bangkok Union Insurance Public Company Limited was incorporated in 1929 and is headquartered in Bangkok, Thailand.
Stock analysis
Bangkok Union Insurance Public Co. Ltd. (BUI) currently trades at 12.00 THB, while our model-based Fair Value estimate is 19.20 THB, implying the stock looks roughly 38% undervalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 25.54 THB per share, and 6 of the 6 models we run sit above the 12.00 THB price.
Bear case: the Asset-Based group reads lowest at 13.83 THB, and 0 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: 13.02 THB (bear) to 24.00 THB (bull), the price of 12.00 THB sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Bangkok Union Insurance Public Co. Ltd. reported revenue of 1.4B THB in FY2025 versus 995M THB in FY2021, a compound +9.3%/yr. Reported net income was 71.0M THB in FY2025, compounding −6.4%/yr from FY2021.
Key figures
Market cap 641M THB (≈ $19.2M) Micro · P/E ratio 5.4 · P/S ratio 0.45 · EPS (TTM) 2.21 THB · Dividend yield 1.5% · Net margin 8.5% · Return on equity 9.9% · Return on assets (EBIT) 7.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 19% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −22% fair-value upside, at 60%, BUI screens cheaper than that median.
Fair Value models
Bear13.02 THBFair Value 19.20 THBBull24.00 THB
Price 12.00 THB · Upside +60.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.74 THB per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income15.32 THB15.62 THB16.49 THB76
Gordon GGM15.15 THB26.49 THB35.55 THB68
DDM Multi-Stage15.15 THB24.58 THB28.38 THB67
All 6 models by family
Dividend Discount
Gordon GGM15.15 THB26.49 THB35.55 THB68
DDM Multi-Stage15.15 THB24.58 THB28.38 THB67
Multiples
P/E Multiple12.20 THB16.27 THB20.34 THB63
P/B Multiple21.68 THB28.90 THB36.13 THB55
Asset-Based
NCAV (Graham)10.32 THB13.83 THB20.64 THB54
Economic Profit
Residual Income15.32 THB15.62 THB16.49 THB76
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+35.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.7%
Start year 2020 (pandemic). Over 10 years: +7.9% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
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What shareholders gained per year (last 5 years), in THB ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+31.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+30.0%
Dividend (yield on the price)1.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.30.0% vs 8.9%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.2% → 7%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−33.1%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about −33.8% a year for the price.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Insurance - Property & Casualty · 100 stocks
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Cite: Fair Value Calculator (2026). "Bangkok Union Insurance Public Co. Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/BUI
Frequently asked questions
Is Bangkok Union Insurance Public Co. Ltd. (BUI) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 19.20 THB versus a price of 12.00 THB, about +60% upside (undervalued).
What is the fair value of BUI?
Our model-based fair value for Bangkok Union Insurance Public Co. Ltd. is 19.20 THB (as of Nov 3, 2026), built from audited fundamentals. The current price: 12.00 THB.
What is the quality score of BUI?
Bangkok Union Insurance Public Co. Ltd. has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Bangkok Union Insurance Public Co. Ltd. (BUI)?
Our model-based price target is the fair value of 19.20 THB (as of Nov 3, 2026) from 6 valuation models. Cautious scenario 13.02 THB, optimistic scenario 24.00 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Bangkok Union Insurance Public Co. Ltd. stock forecast for 2026?
Our models put fair value at 19.20 THB, about +60% upside versus a price of 12.00 THB (undervalued). Cautious scenario 13.02 THB, optimistic scenario 24.00 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Bangkok Union Insurance Public Co. Ltd. (BUI)?
Bangkok Union Insurance Public Co. Ltd. reported trailing-twelve-month revenue of about 1.4B THB (latest available figure, as of Nov 3, 2026).
Does Bangkok Union Insurance Public Co. Ltd. pay a dividend?
Bangkok Union Insurance Public Co. Ltd. currently shows a dividend yield of 1.52% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Bangkok Union Insurance Public Co. Ltd. (BUI) and when is the ex-dividend date?
Bangkok Union Insurance Public Co. Ltd. pays a dividend of 0.182 THB per share a year, a dividend yield of 1.5%. The last ex-dividend date was Mar 13, 2026. A dividend has been paid every year since 2020. The payout ratio is 8.2% of earnings. Free cash flow covers the dividend 16.76 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Bangkok Union Insurance Public Co. Ltd. (BUI)?
For today's price to be fair in a discounted-cash-flow model, Bangkok Union Insurance Public Co. Ltd. would have to grow free cash flow by -33.1 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.7 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of BUI use?
Our models discount Bangkok Union Insurance Public Co. Ltd. at 11.6 %: a base by market capitalisation (nano), country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Bangkok Union Insurance Public Co. Ltd. that is -33.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Bangkok Union Insurance Public Co. Ltd. (BUI) delivered so far?
Over the past 5 years revenue at Bangkok Union Insurance Public Co. Ltd. grew +8.7 % a year. The price currently implies free-cash-flow growth of -33.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Bangkok Union Insurance Public Co. Ltd. (BUI) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Bangkok Union Insurance Public Co. Ltd. (-33.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bangkok Union Insurance Public Co. Ltd. (BUI)?
The free-cash-flow yield on the price is 26.98 %: that much free cash flow Bangkok Union Insurance Public Co. Ltd. produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bangkok Union Insurance Public Co. Ltd. (BUI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bangkok Union Insurance Public Co. Ltd. it is 19.20 THB per share (as of Nov 3, 2026), against a price of 12.00 THB. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Bangkok Union Insurance Public Co. Ltd. stock overvalued or undervalued in 2026?
As of Nov 3, 2026, BUI trades below its calculated fair value: price 12.00 THB, fair value 19.20 THB, a gap of about +60% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BUI?
No. The price is what the market pays today (12.00 THB); the fair value is what the company's own numbers justify (19.20 THB). For Bangkok Union Insurance Public Co. Ltd. the two are 7.20 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Bangkok Union Insurance Public Co. Ltd. worth?
The market values Bangkok Union Insurance Public Co. Ltd. at about 641M THB (market capitalisation, as of Nov 3, 2026). Per share that is 12.00 THB; our models calculate a fair value of 19.20 THB per share.
What do the bullish and bearish scenarios say about BUI?
Our models span a range for Bangkok Union Insurance Public Co. Ltd.: cautious scenario 13.02 THB, base 19.20 THB, optimistic 24.00 THB per share (as of Nov 3, 2026, price 12.00 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BUI?
Bangkok Union Insurance Public Co. Ltd. trades at a price-to-earnings ratio of 5.4 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 19.20 THB is built from several models across several years. Other multiples: PEG 3.7, P/B 0.5, P/S 0.5, EV/EBITDA 2.0.
What is the PEG ratio of BUI?
The PEG ratio of Bangkok Union Insurance Public Co. Ltd. is 3.71 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Bangkok Union Insurance Public Co. Ltd. (BUI)?
Balance-sheet figures for Bangkok Union Insurance Public Co. Ltd. (as of Nov 3, 2026): return on equity 9.9%, debt of 0.02 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is BUI from its 52-week high?
Bangkok Union Insurance Public Co. Ltd. trades at 12.00 THB, about 5% below its 52-week high of 12.60 THB and 19% above the low of 10.09 THB (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 19.20 THB is for.
Which stocks are comparable to Bangkok Union Insurance Public Co. Ltd.?
From the same area (Financial Services) we also value Chubb Limited, The Progressive Corporation, The Travelers Companies, Inc, The Allstate Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bangkok Union Insurance Public Co. Ltd. stock attractive at the current price?
The data as of Nov 3, 2026: price 12.00 THB, calculated fair value 19.20 THB (+60%), Quality Score 59/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BUI calculated?
We run Bangkok Union Insurance Public Co. Ltd. through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 19.20 THB builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Bangkok Union Insurance Public Co. Ltd. currently trades 38% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bangkok Union Insurance Public Co. Ltd. (BUI)?
The closing price on Nov 9, 2026 was 12.00 THB. Our model-based fair value is 19.20 THB, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bangkok Union Insurance Public Co. Ltd. right now?
The price is below even our cautious bear case (13.02 THB). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (13.02 THB to 24.00 THB) leaves room in how you read the outcome.
Where does the earnings growth of Bangkok Union Insurance Public Co. Ltd. (BUI) come from?
Earnings per share at Bangkok Union Insurance Public Co. Ltd. grew +13.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.1 %, EBIT margin +10.2 %, tax rate +0.2 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Bangkok Union Insurance Public Co. Ltd.
How large is the market capitalisation of Bangkok Union Insurance Public Co. Ltd. (BUI)?
The market capitalisation of Bangkok Union Insurance Public Co. Ltd. is 641M THB (≈ $19.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Bangkok Union Insurance Public Co. Ltd. (BUI)?
The price-to-sales ratio of Bangkok Union Insurance Public Co. Ltd. is 0.45 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bangkok Union Insurance Public Co. Ltd. (BUI)?
Earnings per share at Bangkok Union Insurance Public Co. Ltd. are 2.21 THB (price ÷ EPS = P/E 5.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bangkok Union Insurance Public Co. Ltd. (BUI)?
The dividend yield of Bangkok Union Insurance Public Co. Ltd. is 1.5% (payout 8.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bangkok Union Insurance Public Co. Ltd. (BUI)?
The net margin of Bangkok Union Insurance Public Co. Ltd. is 8.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Bangkok Union Insurance Public Co. Ltd. (BUI)?
The return on equity (ROE) of Bangkok Union Insurance Public Co. Ltd. is 9.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Bangkok Union Insurance Public Co. Ltd. (BUI)?
On an EBIT basis the return on assets of Bangkok Union Insurance Public Co. Ltd. is 7.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Bangkok Union Insurance Public Co. Ltd. (BUI)?
The operating margin of Bangkok Union Insurance Public Co. Ltd. is 28.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bangkok Union Insurance Public Co. Ltd. (BUI)?
Revenue at Bangkok Union Insurance Public Co. Ltd. is growing −0.9% versus a year earlier (3y avg +5.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bangkok Union Insurance Public Co. Ltd. (BUI)?
Earnings per share at Bangkok Union Insurance Public Co. Ltd. are growing +88.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Bangkok Union Insurance Public Co. Ltd. (BUI) hold?
Bangkok Union Insurance Public Co. Ltd. holds more cash than debt, 303M THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 3, 2026