Obermatt

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Earnings warningFinancial distress

Bangkok Expressway and Metro

SET:BEM · TH6999010007
Transportation InfrastructureLarge

360

17
EV / EBIT5
Price / Owner Earnings42
Owner Earnings Yield52
Dividend Yield71
Price/Sales6
EV / Gross Profit3
Price/Book28
Return on Capital26
Cash Return on Capital58
Return on Equity62
EBIT Margin94
Gross Profitability1
Cash Conversion1
Accruals1
Owner Earnings Margin96
Sales growth45
Profit Growth83
Long-Term EPS Growth74
Owner Earnings Growth83
Reinvestment65
Price momentum45
Debt load7
Refinancing61
Debt Payback19
Liquidity37
Analyst ratings67
Opinion Changes86
Price Target Upside100
Market mood77
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

Bangkok Expressway and Metro clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryThailand
IndustryTransportation Infrastructure
SizeLarge
TypePublic Company
ExchangeSET
Founded2015
Employees167
ISINTH6999010007
Last UpdateApr 2, 2026
Themes
Real EstateTransportation

Description

Analysis

Hope premium

Bangkok Expressway and Metro Public Company Limited carries what we call a hope premium: an average business trading at an ambitious price.

The price is attractive. You pay 13.4× 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 8%. The price, in other words, assumes less than the experts do.

The trajectory is solid and the balance sheet is fragile. The company scores 8/20 on our value-creation score: creating some value. Analysts lean positive.

What to watch: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
54
2023202420252026

All-time high

54

Jun 2026

All-time low

13

Jan 2023

Average rank

33

across all years

Detailed & Historical Ranks

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

Current202520242023
Price/Sales
6
15
9
7
Price/Earnings
12
22
18
16
Price/Book
28
36
22
37
Dividend Yield
71
42
33
36
Value (overall)
20
29
13
19

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 →