Risk factor
Weak & very vulnerable to price shocks
Profitability factor
Excellent dividends
About
Established in 1992 and headquartered in Bangkok, Thailand, Electricity Generating Public Company Limited (EGCO) primarily focuses on the production and distribution of electricity. The company supplies power to both governmental bodies and industrial consumers across an extensive international footprint, encompassing operations in Thailand, the Philippines, Australia, South Korea, Taiwan, the United States, Laos, and Indonesia. EGCO's operations are divided into two main divisions: Power Generation and various Other Businesses. Its energy portfolio is notably diverse, utilizing sources such as natural gas, liquefied natural gas (LNG), coal, biomass, hydroelectric, solar, wind, geothermal, and fuel cell technologies. As of December 31, 2021, EGCO managed 30 power plants both domestically and overseas, boasting a total equity capacity of 5,959.27 MW. This capacity included 5,646.19 MW from operational facilities and an additional 313.08 MW from projects actively under development. Beyond electricity generation, the company also provides specialized operation, maintenance, engineering, and construction services for a range of industrial infrastructures, including power plants, petrochemical facilities, oil refineries, and other sectors.
Company Valuation
Based on key historical and expected multiples, the stock is fairly valued relative to its peers. Specifically, the stock is fairly valued on P/E, neutral on EV/EBITDA, u