Banpu Public Company (BANPU) Fair Value & Analysis
Energy · TH · Market cap 57.6B THB
Fair value as of: Jul 15, 2026
From 12 valuation models · updated 25 days ago
Share price +165.5% over the past month.
Below-average quality, and screening another 58% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (8.82 THB). The favourable scenario is already priced in.
- Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (3.42 THB to 8.82 THB) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.
How to read this chart
60‑month range 3.75 THB – 15.30 THB · fair‑value band 3.42 THB – 8.82 THB · the 15.00 THB price screens above the 6.26 THB fair value. Dashed = 300-day average. As of Jul 15, 2026.
Analysis
Banpu Public Company (BANPU) currently trades at 15.00 THB, while our model-based Fair Value estimate is 6.26 THB, implying the stock looks roughly 58.2% overvalued today. The Quality Score stands at 27/100 (below-average quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Banpu Public Company generated revenue of 5.3B THB at a net margin of -0.7%. Revenue grew 4.4% year over year. It earns a return on equity of 1.6%. Net debt stands at 5.7B THB. Fundamentals as of Jul 15, 2026
Our scenario range runs from 3.42 THB (bear case) to 8.82 THB (bull case); at 15.00 THB, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Energy peers we cover trades at -12% fair-value upside, at -58%, BANPU screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 12 models by family
Widest divergence: Multiples (9.83 THB) versus DCF Models (2.81 THB). Highest evidence: ROIC Compounder (72).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 28 · Market factors (momentum, volatility) 85
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Banpu Public Company Limited engages in the coal mining and power businesses. It operates through Next-Gen Mining, U.S. Closed-Loop Gas, Power+, and Future Tech segments.
Full company description
Banpu Public Company Limited engages in the coal mining and power businesses. It operates through Next-Gen Mining, U.S. Closed-Loop Gas, Power+, and Future Tech segments. The company operates coal projects in Indonesia, China, Australia, and Mongolia; natural gas projects in the United States; thermal power plants in Thailand, Lao PDR, and China; and renewable energy power plants in Japan, China, and Vietnam. It provides solar rooftops and installation solutions for industries and large businesses; energy storage solutions; electric vehicle and fleet management services; consultation services on customized energy management system; and smart clean energy solutions. The company is also involved in investment in power and renewable energy projects; research and development business; battery energy storage system; sales and marketing; manage provident fund; power and steam production and trading and coal trading; carbon capture and related business; manufacture and sales of lithium batteries for hybrid and electronic vehicles; and management consultation businesses. The company was formerly known as Ban Pu Coal Company Limited and changed its name to Banpu Public Company Limited in July 1993. Banpu Public Company Limited was founded in 1983 and is headquartered in Bangkok, Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Banpu Public Company reported revenue of 5.5B THB in FY2025 versus 4.1B THB in FY2021, a compound +7.5%/yr. Reported net income was −64.2M THB in FY2025.
BANPU screens 58% overvalued. Compare with China Shenhua Energy Company →
Peer Group
Thermal Coal · 101 stocks
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.
Valuation Multiples vs Thermal Coal median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 35/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Thermal Coal stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Shenhua Energy Company 601088 | ¥42.65 | ¥34.97 | -18% |
| Adani Enterprises Limited ADANIENT | ₹3,157 | ₹901.17 | -71% |
| Shaanxi Coal Industry Company 601225 | ¥24.30 | ¥23.90 | -2% |
| Yankuang Energy Group 600188 | ¥20.23 | ¥13.24 | -35% |
| Coal India Limited COALINDIA | ₹427.65 | ₹464.01 | +9% |
| China Coal Energy Company 601898 | ¥12.54 | ¥13.97 | +11% |
| Inner Mongolia Dian Tou Energy Corporation 002128 | ¥25.13 | ¥21.99 | -12% |
| Shanxi Lu'an Environmental Energy Development Co 601699 | ¥16.26 | ¥7.20 | -56% |
| PT Alamtri Resources Indonesia Tbk, ADRO | 2,490 IDR | 3,220 IDR | +29% |
| PT Petrindo Jaya Kreasi Tbk, through its subsidiaries, CUAN | 630.00 IDR | 360.72 IDR | -43% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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