Bangkok Life Assurance Public Company Limited (BLA) fair value: what the stock is really worth
As of Nov 12, 2026: fair value (intrinsic value) of Bangkok Life Assurance Public Company Limited stock THB 31.84, price THB 21.80, upside +46.1%, quality 48 out of 100. Rating: 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 12, 2026.
How to read this chart
60‑month range 13.36 THB – 40.60 THB · fair‑value band 28.54 THB – 37.49 THB · the 21.80 THB price screens below the 31.84 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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Bangkok Life Assurance Public Company Limited, together with its subsidiaries, provides life insurance services in Thailand. The company's life insurance products include protection, savings, education, pension, health, critical illness, total permanent disability, and accident plans products.
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It also provides group insurance; and general insurance products comprises personal and business all risks insurance products, including fire, motor, burglary, personal accident, accident and personal health, travel accident, cancer, golfer's indemnity, home multicover, medical malpractice liability, business interruption, marine, hull, workmen's compensation, money, contractors' plant and equipment, contractors' all risks, erection all risks, boiler and pressure vessel, electronic equipment, industrial all risks, public liability, neon-sign, plate glass, fidelity guarantee, group accident and health, and shop multicover insurance products.
In addition, the company offers bancassurance products, including credit protection insurance; and foreign investment, mixed, long-term equity, equity, money market, fixed income, and retirement mutual funds, as well as alternative and super saving funds.
Further, it provides individual and legal entity business loans. The company also provides its services through online channels. Bangkok Life Assurance Public Company Limited was founded in 1951 and is headquartered in Bangkok, Thailand.
Stock analysis
Bangkok Life Assurance Public Company Limited (BLA) currently trades at 21.80 THB, while our model-based Fair Value estimate is 31.84 THB, implying the stock looks roughly 32% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 41.85 THB per share, and 3 of the 6 models we run sit above the 21.80 THB price.
Bear case: the Dividend Discount group reads lowest at 7.15 THB, and 3 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: 28.54 THB (bear) to 37.49 THB (bull), the price of 21.80 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 48/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Bangkok Life Assurance Public Company Limited reported revenue of 27.2B THB in FY2025 versus 47.6B THB in FY2021, a compound −13.1%/yr. Reported net income was 7.0B THB in FY2025, compounding +21.5%/yr from FY2021.
Key figures
Market cap 37.2B THB (≈ $1.1B) Small · P/E ratio 5.1 · P/S ratio 2.17 · EPS (TTM) 4.25 THB · Dividend yield 4.1% · Net margin 41.8% · Return on equity 13.7% · Return on assets (EBIT) 1.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −34% fair-value upside, at 46%, BLA screens cheaper than that median.
Fair Value models
Bear28.54 THBFair Value 31.84 THBBull37.49 THB
Price 21.80 THB · Upside +46.1%
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 (2.92 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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
−1.3%
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.
−1.4%
Revenue growth 17 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.
+7.0%
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What shareholders gained per year (last 5 years), in THB (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+26.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+22.5%
Dividend (yield on the price)4.1%
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.16.9% vs 5.4%, 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.4% → 30%
2025 sits 117% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 2.1%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Compare Bangkok Life Assurance Public Company Limited with another stock
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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 - Life · 77 stocks
Beats the industry median on 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside+46.1% · Top 25%
Profitability
Return on equity (12 months)13.7% · Above median
Return on assets2.2% · Top 25%
Net margin (12 months)41.8% · Top 25%
Operating margin (12 months)49.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−18.3% · Bottom 25%
Dividend yield (12 months)4.1% · Above median
Valuation Multiplesvs Insurance - Life median · lower = cheaper
P/E (12 months)5.1× · Cheapest 25%
P/B0.67× · Cheapest 25%
P/S (12 months)2.17× · Pricier than median
EV/EBITDA3.7× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)95· sector 14
FUTURE (revenue growth)0· sector 38
PAST (return on equity)55· sector 48
HEALTH (low debt)–
DIVIDEND (yield)82· sector 56
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
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). "Bangkok Life Assurance Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/BLA
Frequently asked questions
Is Bangkok Life Assurance Public Company Limited (BLA) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of 31.84 THB versus a price of 21.80 THB, about +46% upside (undervalued).
What is the fair value of BLA?
Our model-based fair value for Bangkok Life Assurance Public Company Limited is 31.84 THB (as of Nov 12, 2026), built from audited fundamentals. The current price: 21.80 THB.
What is the quality score of BLA?
Bangkok Life Assurance Public Company Limited has a Quality Score of 48/100. 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 Life Assurance Public Company Limited (BLA)?
Our model-based price target is the fair value of 31.84 THB (as of Nov 12, 2026) from 6 valuation models. Cautious scenario 28.54 THB, optimistic scenario 37.49 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Bangkok Life Assurance Public Company Limited stock forecast for 2026?
Our models put fair value at 31.84 THB, about +46% upside versus a price of 21.80 THB (undervalued). Cautious scenario 28.54 THB, optimistic scenario 37.49 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Bangkok Life Assurance Public Company Limited (BLA)?
Bangkok Life Assurance Public Company Limited reported trailing-twelve-month revenue of about 17.2B THB (latest available figure, as of Nov 12, 2026).
Does Bangkok Life Assurance Public Company Limited pay a dividend?
Bangkok Life Assurance Public Company Limited currently shows a dividend yield of 4.08% relative to its recent price (as of Nov 12, 2026).
How much is the dividend of Bangkok Life Assurance Public Company Limited (BLA) and when is the ex-dividend date?
Bangkok Life Assurance Public Company Limited pays a dividend of 0.89 THB per share a year, a dividend yield of 4.1%. The last ex-dividend date was Aug 24, 2026. A dividend has been paid every year since at least 2009. The payout ratio is 20.9% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of Bangkok Life Assurance Public Company Limited (BLA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bangkok Life Assurance Public Company Limited it is 31.84 THB per share (as of Nov 12, 2026), against a price of 21.80 THB. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Bangkok Life Assurance Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 12, 2026, BLA trades below its calculated fair value: price 21.80 THB, fair value 31.84 THB, a gap of about +46% (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 BLA?
No. The price is what the market pays today (21.80 THB); the fair value is what the company's own numbers justify (31.84 THB). For Bangkok Life Assurance Public Company Limited the two are 10.04 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Bangkok Life Assurance Public Company Limited worth?
The market values Bangkok Life Assurance Public Company Limited at about 37.2B THB (market capitalisation, as of Nov 12, 2026). Per share that is 21.80 THB; our models calculate a fair value of 31.84 THB per share.
What do the bullish and bearish scenarios say about BLA?
Our models span a range for Bangkok Life Assurance Public Company Limited: cautious scenario 28.54 THB, base 31.84 THB, optimistic 37.49 THB per share (as of Nov 12, 2026, price 21.80 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BLA?
Bangkok Life Assurance Public Company Limited trades at a price-to-earnings ratio of 5.1 (as of Nov 12, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 31.84 THB is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 14.3. Other multiples: P/B 0.7, P/S 2.2, EV/EBITDA 3.7.
How solid is the balance sheet of Bangkok Life Assurance Public Company Limited (BLA)?
Balance-sheet figures for Bangkok Life Assurance Public Company Limited (as of Nov 12, 2026): return on equity 13.7%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is BLA from its 52-week high?
Bangkok Life Assurance Public Company Limited trades at 21.80 THB, about 19% below its 52-week high of 27.05 THB and 28% above the low of 17.00 THB (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of 31.84 THB is for.
Which stocks are comparable to Bangkok Life Assurance Public Company Limited?
From the same area (Financial Services) we also value Ping An Insurance (Group) Company, China Life Insurance Company, AIA Group, Manulife Financial 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 Life Assurance Public Company Limited stock attractive at the current price?
The data as of Nov 12, 2026: price 21.80 THB, calculated fair value 31.84 THB (+46%), Quality Score 48/100, 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 BLA calculated?
We run Bangkok Life Assurance Public Company Limited through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 31.84 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 14.3% above its aggregate fair value. Bangkok Life Assurance Public Company Limited currently trades 32% 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 Life Assurance Public Company Limited (BLA)?
The closing price on Nov 12, 2026 was 21.80 THB. Our model-based fair value is 31.84 THB, about +46% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bangkok Life Assurance Public Company Limited right now?
The large discount to fair value meets weak quality (48/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (28.54 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. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Bangkok Life Assurance Public Company Limited (BLA) come from?
Earnings per share at Bangkok Life Assurance Public Company Limited grew +1.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share −4.2 %, EBIT margin +5.4 %, 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 Life Assurance Public Company Limited
How large is the market capitalisation of Bangkok Life Assurance Public Company Limited (BLA)?
The market capitalisation of Bangkok Life Assurance Public Company Limited is 37.2B THB (≈ $1.1B). 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 Life Assurance Public Company Limited (BLA)?
The price-to-sales ratio of Bangkok Life Assurance Public Company Limited is 2.17 (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 Life Assurance Public Company Limited (BLA)?
Earnings per share at Bangkok Life Assurance Public Company Limited are 4.25 THB (price ÷ EPS = P/E 5.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bangkok Life Assurance Public Company Limited (BLA)?
The dividend yield of Bangkok Life Assurance Public Company Limited is 4.1% (payout 20.9%). 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 Life Assurance Public Company Limited (BLA)?
The net margin of Bangkok Life Assurance Public Company Limited is 41.8% (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 Life Assurance Public Company Limited (BLA)?
The return on equity (ROE) of Bangkok Life Assurance Public Company Limited is 13.7% (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 Bangkok Life Assurance Public Company Limited (BLA)?
On an EBIT basis the return on assets of Bangkok Life Assurance Public Company Limited is 1.4% (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 Life Assurance Public Company Limited (BLA)?
The operating margin of Bangkok Life Assurance Public Company Limited is 49.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bangkok Life Assurance Public Company Limited (BLA)?
Revenue at Bangkok Life Assurance Public Company Limited is growing −18.3% versus a year earlier (3y avg −17.3%). 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 Life Assurance Public Company Limited (BLA)?
Earnings per share at Bangkok Life Assurance Public Company Limited are growing −7.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bangkok Life Assurance Public Company Limited (BLA) generate?
The free cash flow of Bangkok Life Assurance Public Company Limited is −2.4B THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Bangkok Life Assurance Public Company Limited (BLA) hold?
Bangkok Life Assurance Public Company Limited holds more cash than debt, 6.7B THB net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 12, 2026