Risk factor
Poor trading liquidity
Profitability factor
Greatly undervalued vs peers
About
Thoresen Thai Agencies Public Company Limited (TTA) functions as a diversified investment holding company, providing a broad spectrum of services both domestically in Thailand and across international markets, with a significant emphasis on its shipping operations. Its extensive business activities are organized into five primary segments: Shipping, Offshore Services, Agrochemicals, Food and Beverage, and Investment. The company's Shipping division focuses on dry bulk cargo transportation, handling a wide range of commodities including mineral ores, coal, agricultural produce, construction materials, and steel products, supported by its owned fleet of 24 vessels. TTA also delivers comprehensive offshore services vital to the oil and gas sector, encompassing exploration drilling, support for petrochemical industries, subsea inspection, diving, ROV services, subsea and hydrographic surveys, and the development of advanced robotics and artificial intelligence. Through its Agrochemical segment, TTA manufactures and distributes NPK compounds, bulk blending products, and various fertilizers marketed under the 'Stork' brand, specifically formulated to meet the nutritional demands of crops such as coffee, rice, rubber, and vegetables. Additionally, its Food and Beverage segment operates and franchises popular restaurant chains, including Pizza Hut and Taco Bell. Beyond these core operations, TTA's diverse portfolio includes the ownership and management of Phu My Port in South Vietnam. The company offers a suite of complementary maritime and logistics services, including ship management, international transportation, ship chartering and rental, integrated logistics management, port services, and bonded warehousing. Environmental services provided include wastewater treatment, water resource management, and pipeline installation and repair. TTA is also actively involved in trading fertilizers, coal, and biomass fuels. Its wider ventures extend to digital marketing, real estate, floating storage and offloading solutions, the import and export of electric vehicles and their spare parts, and the supply of cargo lashing materials. Furthermore, the company holds interests in lifestyle and entertainment businesses, alongside the demolition and installation of industrial machinery and equipment. Founded in 1904, Thoresen Thai Agencies Public Company Limited is headquartered in Bangkok, Thailand.
Company Valuation
Considering past and projected metrics, the stock is distinctly 'cheaper' than its peers. Specifically, the stock is 'cheap' on P/E, undervalued on EV/EBITDA, underpriced
Target Price
The average target price of TTA.BK is 5.3 and suggests 6% upside potential. Usually, this means a HOLD recommendation among investment firms. This neutral recommendation