Obermatt

Thai Beverage

SES:Y92 · TH0902010014
BeveragesLarge

360

37
EV / EBIT56
Price / Owner Earnings77
Owner Earnings Yield72
Dividend Yield76
Price/Sales67
EV / Gross Profit62
Price/Book67
Return on Capital30
Cash Return on Capital46
Return on Equity55
EBIT Margin43
Gross Profitability20
Cash Conversion72
Accruals54
Owner Earnings Margin44
Sales growth16
Profit Growth100
Long-Term EPS Growth54
Owner Earnings Growth38
Reinvestment30
Price momentum49
Debt load19
Refinancing60
Debt Payback27
Liquidity34
Analyst ratings57
Opinion Changes96
Price Target Upside50
Market mood70
Value Creation8/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Thai Beverage clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryThailand
IndustryBeverages
SizeLarge
TypePublic Company
ExchangeSGX
Founded2003
Employees747
ISINTH0902010014
Last UpdateApr 2, 2026
Themes
Packaging ServicesFast-Moving Consumer GoodsBrand MarketingBrewingCraft BeerWine And Spirits

Description

Thai Beverage Public Company Limited (THBEV) is a beverage company. The company primarily focuses on the production and distribution of both alcoholic and non-alcoholic beverages. With its extensive portfolio, THBEV plays a significant role in the b…

Analysis

Bargain bin

Thai Beverage Public Company Limited falls in the bargain bin: the price is low relative to peers, but the business metrics give reason to pause.

The price is attractive. You pay 13.1× its owner earnings: the cash an owner could take out each year, which is in the historically attractive zone. At today's price, the market is assuming roughly 1% yearly growth; analysts expect 6%. The price, in other words, assumes less than the experts do.

The trajectory is moderate and the balance sheet is stretched. The company scores 8/20 on our value-creation score: creating some value.

What to watch: The financial cushion is thinner than comfortable. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
81
2023202420252026

All-time high

81

Jun 2026

All-time low

1

Jan 2023

Average rank

35

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
67
59
59
54
Price/Earnings
66
62
67
56
Price/Book
67
57
65
53
Dividend Yield
76
63
67
60
Value (overall)
80
61
63
60

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →