Bangkok Life Assurance Public Company (BLA) Fair Value & Analysis
Financial Services · TH · Market cap 46.5B THB
Fair value as of: Aug 13, 2026
From 6 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from 53.05 THB to 49.10 THB (−7.4%) since Jul 19, 2026. Share price −9.5% over the past month.
A solid business, screening 103% undervalued on our models.
What matters now
- The price is below even our cautious bear case (36.83 THB). The market is more pessimistic than our downside scenario.
- Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range 13.59 THB – 41.28 THB · fair‑value band 36.83 THB – 61.38 THB · the 24.20 THB price screens below the 49.10 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Bangkok Life Assurance Public Company (BLA) currently trades at 24.20 THB, while our model-based Fair Value estimate is 49.10 THB, implying the stock looks roughly 102.9% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Bangkok Life Assurance Public Company generated revenue of 18.1B THB at a net margin of 40.4%. Revenue declined 9.1% year over year. It earns a return on equity of 14.5%. The balance sheet holds a net cash position of 6.7B THB. Fundamentals as of Aug 13, 2026
Our scenario range runs from 36.83 THB (bear case) to 61.38 THB (bull case); at 24.20 THB, the current price sits below 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. The share trades about 5% below its 52-week high and 81% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 34% fair-value upside, at 103%, BLA screens cheaper 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 6 models by family
Widest divergence: Multiples (45.25 THB) versus Dividend Discount (8.58 THB). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 38 · Market factors (momentum, volatility) 78
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
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.
Full company description
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. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Bangkok Life Assurance Public Company 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.
of which total revenue −4.1 pp · buybacks/dilution +0.0 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Insurance - Life · 96 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 Insurance - Life 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.
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 Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Life Insurance Company 601628 | ¥37.33 | ¥49.98 | +34% |
| Ping An Insurance (Group) Company 601318 | ¥52.60 | ¥84.72 | +61% |
| Manulife Financial Corporation 0945 | HK$343.40 | HK$143.17 | -58% |
| Life Insurance Corporation LICI | ₹412.15 | ₹392.93 | -5% |
| Samsung Life Insurance Co 032830 | 302,500 KRW | 191,293 KRW | -37% |
| China Pacific Insurance (Group) Co 601601 | ¥30.48 | ¥57.51 | +89% |
| Prudential plc PUKN | 545.00 MXN | 499.36 MXN | -8% |
| New China Life Insurance Company 601336 | ¥58.83 | ¥99.92 | +70% |
| SBI Life Insurance Company SBILIFE | ₹1,830 | ₹293.11 | -84% |
| Cathay Financial Holding 2882B | 59.00 TWD | 107.71 TWD | +83% |
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Frequently asked questions
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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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