Dhipaya Group (TIPH) Fair Value & Analysis
Financial Services · TH · Market cap 14.0B THB
Fair value as of: Jul 18, 2026
From 6 valuation models · updated 23 days ago
Share price −1.3% over the past month.
A solid business, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- 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 Jul 18, 2026.
How to read this chart
59‑month range 15.74 THB – 69.51 THB · fair‑value band 16.46 THB – 27.44 THB · the 23.40 THB price screens above the 21.95 THB fair value. Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Dhipaya Group (TIPH) currently trades at 23.40 THB, while our model-based Fair Value estimate is 21.95 THB, implying the stock looks roughly 6.2% fairly valued today. The Quality Score stands at 68/100 (solid quality), in the Financial Services 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: high).
Over the trailing twelve months, Dhipaya Group generated revenue of 33.3B THB at a net margin of 3.2%. Revenue declined 4.5% year over year. It earns a return on equity of 12.2%. The balance sheet holds a net cash position of 804M THB. Fundamentals as of Jul 18, 2026
Our scenario range runs from 16.46 THB (bear case) to 27.44 THB (bull case); at 23.40 THB, the current price sits within 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 near its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at -6%, TIPH 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: Dividend Discount (24.73 THB) versus Asset-Based (10.56 THB). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 66 · Market factors (momentum, volatility) 79
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
Dhipaya Group Holdings Public Company Limited, through its subsidiaries, provides non-life insurance products in Thailand. It operates through three segments: Non-life Insurance, Investment Business, and Insurance Supported Business.
Full company description
Dhipaya Group Holdings Public Company Limited, through its subsidiaries, provides non-life insurance products in Thailand. It operates through three segments: Non-life Insurance, Investment Business, and Insurance Supported Business. The company acts as a non-life insurance broker, and surveyor; and operates training center, as well as provides technology service. Dhipaya Group Holdings Public Company Limited was founded in 1951 and is based in Bangkok, Thailand.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Dhipaya Group reported revenue of 34.2B THB in FY2025 versus 13.6B THB in FY2021, a compound +25.9%/yr. Reported net income was 1.0B THB in FY2025, compounding −13.7%/yr from FY2021.
of which total revenue +9.6 pp · buybacks/dilution +0.1 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 - Diversified · 84 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 - Diversified 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 - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Berkshire Hathaway Inc BRKB | 8,562 MXN | 10,844 MXN | +27% |
| Allianz SE ALV | €421.00 | €369.31 | -12% |
| Zurich Insurance Group ZURN | CHF 624.40 | CHF 619.80 | -1% |
| AXA SA AXAN | 888.28 MXN | 1,249 MXN | +41% |
| Assicurazioni Generali S.p.A G | €42.90 | €12.18 | -72% |
| Sun Life Financial Inc SLF | C$114.20 | C$87.83 | -23% |
| BB Seguridade Participações S.A BBSE3 | R$40.71 | R$60.39 | +48% |
| Tryg A/S TRYG | kr 154.00 | kr 116.45 | -24% |
| PT Sinar Mas Multiartha Tbk SMMA | 20,625 IDR | 4,176 IDR | -80% |
| Caixa Seguridade Participações S.A CXSE3 | R$21.77 | R$18.60 | -15% |
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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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