Fact based stock research
TMB Bank (SET:TMB)

TH0068010Z07

How to read the free ranks

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.

TMB Bank stock research in summary

ttbbank.com

ANALYSIS: With an Obermatt Combined Rank of 39 (worse than 61% compared with investment alternatives), TMB Bank (Diversified Banks, Thailand) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of TMB Bank are a good value (attractively priced) with a consolidated Value Rank of 53 (better than 53% of alternatives), are safely financed (Safety Rank of 61, which means low debt burdens), but show below-average growth (Growth Rank of 27). ...read more

RECOMMENDATION: A Combined Rank of 39, is a hold recommendation based on TMB Bank's financial characteristics. As the company TMB Bank's key financial metrics exhibit good value (Obermatt Value Rank of 53) but low growth (Obermatt Growth Rank of 27) while being safely financed (Obermatt Safety Rank of 61), it may be a safer investment because companies with low debt can better withstand times of crises. Yet the good value, better than 53% of comparable companies, may also indicate that the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity and the downside is limited due to below-average financing risks. 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	53
Growth Rank	27
Safety Rank	61
Combined Rank	39

Country	Thailand
Industry	Diversified Banks
Index	SET, Human Rights
Size class	Large

This stock has achievements: Top 10 Stock.

27-Mar-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: TMB Bank

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	49	77	55	53
GROWTH
GROWTH	17	53	37	27
SAFETY
SAFETY	59	83	34	61
SENTIMENT
SENTIMENT	29	49	49	^new
360° VIEW
360° VIEW	9	85	32	^new

Most recent update of the stock research: 27-Mar-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better TMB Bank is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	49	77	55	53
GROWTH
GROWTH	17	53	37	27
SAFETY
SAFETY	59	83	34	61
COMBINED
COMBINED	25	97	30	39

Last update of combined financial performance: 27-Mar-2025. Stock analysis on combined financial performance: The higher the rank of TMB Bank the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 53 (better than 53% compared with alternatives), TMB Bank shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for TMB Bank. Expected dividend yields are higher than for 76% of comparable companies (a Dividend Yield rank of 76), making the stock attractive. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 61, which means that the stock price is lower compared with invested capital than for 61% of comparable investments. But in respect to sales and profits, the picture is reversed. Price-to-Sales is 42 which means that the stock price compared with what market professionals expect for future profits is higher than for 58% of comparable companies, indicating a low value concerning TMB Bank's sales levels. The Price-to-Profit ratio (also referred to as price-earnings (P/E) ratio) is also unfavorable for TMB Bank with a rank of 38. This means that the stock price, compared with what market professionals expect for future profits, is higher than for 62% of comparable companies, indicating a low value concerning TMB Bank's profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 53, is a buy recommendation based on TMB Bank's stock price compared with the company's operational size and dividend yields. The company seems confident that it can generate a reasonable return on invested capital, because it pays an above-average dividend while profits are below what you would expect for a company with this stock price. If you agree with this practice and believe that profits will return to higher levels, as the current dividend policy suggests, TMB Bank may be an attractive investment. If this is not the case, you may want to be careful with this stock as it is also expensive compared with its expected revenue levels. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	54	54	39	42
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	29	47	36	38
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	78	91	63	61
DIVIDEND YIELD
DIVIDEND YIELD	52	90	76	76
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	49	77	55	53

Last update of Value Rank: 27-Mar-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of TMB Bank; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 27 (better than 27% compared with alternatives), TMB Bank shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below average for TMB Bank. Only Capital Growth has a good rank of 71, which means that currently professionals expect the company to grow its invested capital more than 36% of its competitors. The other three indicators are pointing South: Sales Growth has a rank of 6 which means that currently professionals expect the company to grow less than 94% of its competitors. Profit Growth with a rank of 36 and Stock Returns with a rank of 45 are also low (below 55% of alternative investments). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 27, is a hold recommendation for growth and momentum investors. The good news from the invested capital side is surprising. A company with disappointing revenues, profits, and disappointed shareholders typically doesn't invest above average. Overall, the growth momentum for TMB Bank is thus negative. As it is intriguing to see that company executives are optimistic about their investment policy, it is worthwhile looking into the details of the capital investment projects. They may indicate future growth and profits and thus if accompanied by a good value, a sign of good timing to invest in the stock. 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 limited here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	8	8	8	6
PROFIT GROWTH
PROFIT GROWTH	12	78	26	36
CAPITAL GROWTH
CAPITAL GROWTH	48	41	77	71
STOCK RETURNS
STOCK RETURNS	71	75	57	45
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	17	53	37	27

Last update of Growth Rank: 27-Mar-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of TMB Bank.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 61 (better than 61% compared with alternatives), the company TMB Bank has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of TMB Bank is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, where all three are above average for TMB Bank. Leverage is at 56, meaning the company has a below-average debt-to-equity ratio. It has less debt than 56% of its competitors. Refinancing is at a rank of 64, meaning that the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 64% of its competitors. Finally, Liquidity is also good at a rank of 61, which means that the company generates more profit to service its debt than 61% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 61 (better than 61% compared with alternatives), TMB Bank has a financing structure that is safer than that of its competitors. These three positive financing indicators signal that the company is less likely to default on its debt obligations. However, it also means that its shareholder returns will be more modest if things go well. A low safety means fewer troubles in downtimes and less upside in good times. Investors may not have a debt issue with TMB Bank but they should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	22	42	58	56
REFINANCING
REFINANCING	83	83	23	64
LIQUIDITY
LIQUIDITY	55	60	52	61
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	59	83	34	61

Last update of Safety Rank: 27-Mar-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of TMB Bank 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	28	43	^new
OPINIONS CHANGE
OPINIONS CHANGE	86	56	75	^new
PRO HOLDINGS
PRO HOLDINGS	52	60	29	^new
MARKET PULSE
MARKET PULSE	22	54	51	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	29	49	49	^new

Last update of Sentiment Rank: 27-Mar-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for TMB Bank.
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