B.Grimm Power Public Company Limited (BGRIM) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of B.Grimm Power Public Company Limited stock THB 3.56, price THB 22.40, that is 84.1% below the price, quality 45 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 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 5, 2026.
How to read this chart
60‑month range 8.81 THB – 42.34 THB · fair‑value band 3.56 THB – 11.21 THB · the 22.40 THB price screens above the 3.56 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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B.Grimm Power Public Company Limited, together with its subsidiaries, engages in the development, financing, construction, and operation of green-field power plants in Thailand and internationally. The company operates through Electricity Generating and Other Businesses segments.
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The Electricity Generation segment generates and distributes electricity for the government sectors and industrial users and procure and wholesale liquefied natural gas. The Other Businesses segment provides investment holding, maintenance, and operating services for power plants.
It generates electricity through solar, hydro, and wind power; invests in electric, solar, and renewable power business; develops electricity generation systems; and manages smart grid networks.
The company is also involved in solar power plant project management; procurement and wholesale natural gas; land development for power plant project; and operation and maintenance service, as well as management consulting.
In addition, it It generates and distributes electricity for the government sectors and industrial users. The company operates in Vietnam, Cambodia, the United States, the Republic of Korea, and the Philippines.
B.Grimm Power Public Company Limited was founded in 1878 and is headquartered in Bangkok, Thailand.
Stock analysis
B.Grimm Power Public Company Limited (BGRIM) currently trades at 22.40 THB, while our model-based Fair Value estimate is 3.56 THB, 84% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 10.93 THB per share, and 0 of the 21 models we run sit above the 22.40 THB price.
Bear case: the Dividend Discount group reads lowest at 2.31 THB, and 21 of the 21 models stay below the price. Data coverage for this calculation is low.
Scenario range: 3.56 THB (bear) to 11.21 THB (bull), the price of 22.40 THB sits above 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 45/100 (below-average quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
B.Grimm Power Public Company Limited reported revenue of 55.4B THB in FY2025 versus 46.6B THB in FY2021, a compound +4.4%/yr. Reported net income was 1.7B THB in FY2025, compounding −16.3%/yr from FY2021.
Key figures
Market cap 58.4B THB (≈ $1.7B) Small · P/E ratio 43.9 · P/S ratio 1.09 · EPS (TTM) 0.5100 THB · Dividend yield 1.8% · Net margin 4.4% · Return on equity 7.7% · Return on assets (EBIT) 4.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 1% below its 52-week high and 120% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −48% fair-value upside, at −84%, BGRIM screens richer than that median.
Fair Value models
Bear3.56 THBFair Value 3.56 THBBull11.21 THB
Price 22.40 THB · Downside -84.1%
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 (0.0838 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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−0.8%
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.
−3.9%
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.
+4.7%
Start year 2020 (pandemic). Over 10 years: +8.7% a year
Revenue growth 12 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.
+12.3%
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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.
−13.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.9%
Dividend (yield on the price)1.8%
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.−14.9% vs 18.3%, slowing
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.16% → 14%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+26.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +24.9% a year for the price and +0.2% for the forecasts.
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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.Utilities - Independent Power Producers · 77 stocks
Beats the industry median on 2/15 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−84.1% · Bottom 25%
Profitability
Return on equity (12 months)7.7% · Below median
Return on assets1.8% · Below median
Net margin (12 months)8.6% · Above median
Operating margin (12 months)11.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)0.4% · Above median
Dividend yield (12 months)1.8% · Below median
Balance sheet
Debt / equity3.11× · Highest 25%
Valuation Multiplesvs Utilities - Independent Power Producers median · lower = cheaper
P/E (12 months)43.9× · Priciest 25%
P/B1.75× · Pricier than median
P/S (12 months)2.08× · Pricier than median
Price / free cash flow (fiscal year)23.9× · Pricier than median
EV/EBITDA21.2× · Priciest 25%
PEG1.68× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 19
FUTURE (revenue growth)2· sector 2
PAST (return on equity)31· sector 31
HEALTH (low debt)0· sector 71
DIVIDEND (yield)37· sector 59
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "B.Grimm Power Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/BGRIM
Frequently asked questions
Is B.Grimm Power Public Company Limited (BGRIM) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 3.56 THB versus a price of 22.40 THB, about 84% lower (overvalued).
What is the fair value of BGRIM?
Our model-based fair value for B.Grimm Power Public Company Limited is 3.56 THB (as of Nov 5, 2026), built from audited fundamentals. The current price: 22.40 THB.
What is the quality score of BGRIM?
B.Grimm Power Public Company Limited has a Quality Score of 45/100. 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 B.Grimm Power Public Company Limited (BGRIM)?
Our model-based price target is the fair value of 3.56 THB (as of Nov 5, 2026) from 24 valuation models. Cautious scenario 3.56 THB, optimistic scenario 11.21 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the B.Grimm Power Public Company Limited stock forecast for 2026?
Our models put fair value at 3.56 THB, about 84% lower versus a price of 22.40 THB (overvalued). Cautious scenario 3.56 THB, optimistic scenario 11.21 THB. The calculation is refreshed regularly with new filings.
What is the revenue of B.Grimm Power Public Company Limited (BGRIM)?
B.Grimm Power Public Company Limited reported trailing-twelve-month revenue of about 54.5B THB (latest available figure, as of Nov 5, 2026).
Does B.Grimm Power Public Company Limited pay a dividend?
B.Grimm Power Public Company Limited currently shows a dividend yield of 1.84% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of B.Grimm Power Public Company Limited (BGRIM) and when is the ex-dividend date?
B.Grimm Power Public Company Limited pays a dividend of 0.412 THB per share a year, a dividend yield of 1.8%. The last ex-dividend date was Aug 26, 2026. A dividend has been paid every year since at least 2018. The payout ratio is 80.8% of earnings. Free cash flow covers the dividend 4.41 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into B.Grimm Power Public Company Limited (BGRIM)?
For today's price to be fair in a discounted-cash-flow model, B.Grimm Power Public Company Limited would have to grow free cash flow by +26.4 % per year for five years (discount rate 12.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.7 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of BGRIM use?
Our models discount B.Grimm Power Public Company Limited at 12.8 %: a base by market capitalisation (small), damped by beta 0.92, 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 B.Grimm Power Public Company Limited that is +26.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.8 %) and the same formula as our fair value.
How much growth has B.Grimm Power Public Company Limited (BGRIM) delivered so far?
Over the past 5 years revenue at B.Grimm Power Public Company Limited grew +4.7 % a year. The price currently implies free-cash-flow growth of +26.4 % 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 B.Grimm Power Public Company Limited (BGRIM) growing?
The median revenue growth in the sector is +4.5 % a year. That is the yardstick for the growth priced into B.Grimm Power Public Company Limited (+26.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of B.Grimm Power Public Company Limited (BGRIM)?
The free-cash-flow yield on the price is 8.11 %: that much free cash flow B.Grimm Power Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (12.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of B.Grimm Power Public Company Limited (BGRIM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For B.Grimm Power Public Company Limited it is 3.56 THB per share (as of Nov 5, 2026), against a price of 22.40 THB. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is B.Grimm Power Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 5, 2026, BGRIM trades above its calculated fair value: price 22.40 THB, fair value 3.56 THB, a gap of about −84% (overvalued). 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 BGRIM?
No. The price is what the market pays today (22.40 THB); the fair value is what the company's own numbers justify (3.56 THB). For B.Grimm Power Public Company Limited the two are 18.84 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is B.Grimm Power Public Company Limited worth?
The market values B.Grimm Power Public Company Limited at about 58.4B THB (market capitalisation, as of Nov 5, 2026). Per share that is 22.40 THB; our models calculate a fair value of 3.56 THB per share.
What do the bullish and bearish scenarios say about BGRIM?
Our models span a range for B.Grimm Power Public Company Limited: cautious scenario 3.56 THB, base 3.56 THB, optimistic 11.21 THB per share (as of Nov 5, 2026, price 22.40 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BGRIM?
B.Grimm Power Public Company Limited trades at a price-to-earnings ratio of 43.9 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3.56 THB is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2017 to 2025), reported earnings: 33.2. Other multiples: PEG 1.7, P/B 1.8, P/S 2.1, EV/EBITDA 21.2.
What is the PEG ratio of BGRIM?
The PEG ratio of B.Grimm Power Public Company Limited is 1.68 (P/E divided by earnings growth, as of Nov 5, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of B.Grimm Power Public Company Limited (BGRIM)?
Balance-sheet figures for B.Grimm Power Public Company Limited (as of Nov 5, 2026): return on equity 7.7%, debt of 3.11 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is BGRIM from its 52-week high?
B.Grimm Power Public Company Limited trades at 22.40 THB, about 1% below its 52-week high of 22.60 THB and 120% above the low of 10.20 THB (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 3.56 THB is for.
Which stocks are comparable to B.Grimm Power Public Company Limited?
From the same area (Utilities) we also value Constellation Energy Corporation, Vistra Corp, Adani Power Limited, CGN Power Co, 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 B.Grimm Power Public Company Limited stock attractive at the current price?
The data as of Nov 5, 2026: price 22.40 THB, calculated fair value 3.56 THB (−84%), Quality Score 45/100, from 24 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 BGRIM calculated?
We run B.Grimm Power Public Company Limited through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 3.56 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 13.0% above its aggregate fair value. B.Grimm Power Public Company Limited itself currently trades above fair value. 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 B.Grimm Power Public Company Limited (BGRIM)?
The closing price on Nov 6, 2026 was 22.40 THB. Our model-based fair value is 3.56 THB, about 84% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with B.Grimm Power Public Company Limited right now?
The price sits above even our optimistic bull case (11.21 THB). The favourable scenario is already priced in. Weak quality (45/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (3.56 THB to 11.21 THB). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of B.Grimm Power Public Company Limited (BGRIM) come from?
Earnings per share at B.Grimm Power Public Company Limited grew +9.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.3 %, EBIT margin +0.4 %, tax rate −1.3 %, residual (interest, one-offs) +4.0 %. 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 B.Grimm Power Public Company Limited
How large is the market capitalisation of B.Grimm Power Public Company Limited (BGRIM)?
The market capitalisation of B.Grimm Power Public Company Limited is 58.4B THB (≈ $1.7B). 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 B.Grimm Power Public Company Limited (BGRIM)?
The price-to-sales ratio of B.Grimm Power Public Company Limited is 1.09 (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 B.Grimm Power Public Company Limited (BGRIM)?
Earnings per share at B.Grimm Power Public Company Limited are 0.5100 THB (price ÷ EPS = P/E 43.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of B.Grimm Power Public Company Limited (BGRIM)?
The dividend yield of B.Grimm Power Public Company Limited is 1.8% (payout 80.8%). 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 B.Grimm Power Public Company Limited (BGRIM)?
The net margin of B.Grimm Power Public Company Limited is 4.4% (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 B.Grimm Power Public Company Limited (BGRIM)?
The return on equity (ROE) of B.Grimm Power Public Company Limited is 7.7% (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 B.Grimm Power Public Company Limited (BGRIM)?
On an EBIT basis the return on assets of B.Grimm Power Public Company Limited is 4.0% (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 B.Grimm Power Public Company Limited (BGRIM)?
The operating margin of B.Grimm Power Public Company Limited is 11.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at B.Grimm Power Public Company Limited (BGRIM)?
Revenue at B.Grimm Power Public Company Limited is growing +0.4% versus a year earlier (3y avg −3.9%). 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 B.Grimm Power Public Company Limited (BGRIM)?
Earnings per share at B.Grimm Power Public Company Limited are growing +18.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does B.Grimm Power Public Company Limited (BGRIM) carry?
The net debt of B.Grimm Power Public Company Limited is 99.7B THB (fiscal year 2025, ≈ 21.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 5, 2026