Fact based stock research
Bangkok Commercial Asset Management (SET:BAM)

TH9479010000

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Bangkok Commercial Asset Management stock research in summary

bam.co.th

ANALYSIS: With an Obermatt Combined Rank of 26 (worse than 74% compared with investment alternatives), Bangkok Commercial Asset Management (Asset Management & Custody, Thailand) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Bangkok Commercial Asset Management are a good value (attractively priced) with a consolidated Value Rank of 54 (better than 54% of alternatives), show above-average growth (Growth Rank of 54) but are riskily financed (Safety Rank of 4), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 26, is a hold recommendation based on Bangkok Commercial Asset Management's financial characteristics. As the company Bangkok Commercial Asset Management's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 54) and above-average growth (Obermatt Growth Rank of 54), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 4) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	54
Growth Rank	54
Safety Rank	4
Combined Rank	26

Country	Thailand
Industry	Asset Management & Custody
Index
Size class	X-Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Bangkok Commercial Asset Management

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	27	60	67	54
GROWTH
GROWTH	33	1	3	54
SAFETY
SAFETY	1	1	1	4
SENTIMENT
SENTIMENT	61	15	9	^new
360° VIEW
360° VIEW	5	1	1	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Bangkok Commercial Asset Management is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	27	60	67	54
GROWTH
GROWTH	33	1	3	54
SAFETY
SAFETY	1	1	1	4
COMBINED
COMBINED	1	1	1	26

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Bangkok Commercial Asset Management the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 54 (better than 54% compared with alternatives), Bangkok Commercial Asset Management shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, where three out of four indicators are above average for Bangkok Commercial Asset Management. Price-to-Sales (P/S) is 53 which means that the stock price compared with what market professionals expect for future sales is lower than for 53% of comparable companies, indicating a good value for Bangkok Commercial Asset Management's revenue size. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 78. Finally, compared with other companies in the same industry, dividend yields of Bangkok Commercial Asset Management are expected to be higher than for 65% of all competitors (a Dividend Yield rank of 65). The only low rank is for expected profits with a Price-to-Profit Rank of 24, indicating that the market expects the company's profit to be low despite a high dividend. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 54, is a buy recommendation based on Bangkok Commercial Asset Management's stock price compared with the company's operational size and dividend yields. The low Profit Rank could result from a one-off charge, for instance, for an accident, a legal settlement, or a restructuring project. If the company keeps its dividends high, the low expected profit may be transitory. If that is the case, the three good value ranks for Sales, Capital, and Dividends are reliable indicators for good stock price value, a low stock price. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	21	57	58	53
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	17	31	35	24
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	40	81	89	78
DIVIDEND YIELD
DIVIDEND YIELD	62	65	69	65
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	27	60	67	54

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Bangkok Commercial Asset Management; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 54 (better than 54% compared with alternatives), Bangkok Commercial Asset Management shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Bangkok Commercial Asset Management. Profit Growth has a rank of 88, which means that currently professionals expect the company to grow its profits more than 88% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 67 (above 67% of alternative investments). But Sales Growth has a below the median rank of 1, which means that, currently, professionals expect the company to grow less than 99% of its competitors, and Capital Growth also has a lower rank of 41. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 54, is a buy recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for Bangkok Commercial Asset Management. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	56	17	17	1
PROFIT GROWTH
PROFIT GROWTH	55	10	29	88
CAPITAL GROWTH
CAPITAL GROWTH	31	37	11	41
STOCK RETURNS
STOCK RETURNS	27	3	21	67
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	33	1	3	54

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Bangkok Commercial Asset Management.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 4 (better than 4% compared with alternatives), the company Bangkok Commercial Asset Management has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Bangkok Commercial Asset Management is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with all three metrics below average for Bangkok Commercial Asset Management. Liquidity is at 15, meaning that the company generates less profit to service its debt than 85% of its competitors. This indicates that the company is on the riskier side when it comes to debt service. Even worse, Leverage is at a rank of 10, meaning the company has an above-average debt-to-equity ratio. It has more debt than 90% of its competitors. Finally, Refinancing is at a rank of 13 which means that the portion of the debt about to be refinanced is above average. It has more debt in the refinancing stage than 87% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 4 (worse than 96% compared with alternatives), Bangkok Commercial Asset Management has a financing structure that is significantly riskier than that of its competitors. This combination is rather dangerous in most situations. Only very promising companies with bright future outlooks and stellar reputations can operate with such risky financing. Investors should look at Obermatt’s Value, Growth, and Sentiment Ranks to confirm a very positive outlook or be careful with investing in stocks of Bangkok Commercial Asset Management because it may suffer significantly in case of future difficulties. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	16	8	6	10
REFINANCING
REFINANCING	5	15	9	13
LIQUIDITY
LIQUIDITY	23	23	17	15
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	1	1	1	4

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Bangkok Commercial Asset Management and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	13	13	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	29	20	^new
PRO HOLDINGS
PRO HOLDINGS	21	6	33	^new
MARKET PULSE
MARKET PULSE	74	76	30	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	61	15	9	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Bangkok Commercial Asset Management.
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