Risk factor
Very poor trading liquidity
Profitability factor
Very weak growth
About
Thai Solar Energy Public Company Limited specializes in producing and supplying electricity, primarily drawing upon solar and biomass energy sources. The company caters to both public and private sector clients across Thailand and Japan. Additionally, it maintains a business segment dedicated to land leasing. As of December 31, 2021, its portfolio of operational assets included 17 solar photovoltaic (PV) farm installations, 14 solar rooftop ventures, three biomass power facilities, and a solar floating project, amounting to a combined production capacity of 291.7 MW. An extra 8 MW solar floating project was also reported to be under construction. Founded in 2008, the company was initially named Siam Solar Energy Co., Ltd., before officially changing to Thai Solar Energy Public Company Limited in 2009. Its main office is situated in Bangkok, Thailand.
Company Valuation
Based on key historical and expected multiples, the stock is overvalued relative to its peers. In particular, the stock is overpriced on P/E, of fair value on EV/EBITDA,