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B.Grimm Power Public Company Limited (BGRIM.BK)

THB18.40 -0.60 (-3.16%)
TH SET Utilities Independent Power Producers
Address Dr. Gerhard Link Building 10240
Bangkok, TH
CEO Siriwong Borvornboonrutai
IPO 2017-07-20
ISIN TH7545010004

Explore sections of this company profile

Also trades on Stock Exchange of Thailand · BGRIM-R.BK (THB) Stock Exchange of Thailand · BGRIM.BK (THB)
Description

B.Grimm Power Public Company Limited is an energy enterprise focused on the complete lifecycle of greenfield power plant projects, from conceptualization and funding to construction and ongoing management. Its operations span Thailand, Laos, Cambodia, the Philippines, and Vietnam. The company's activities are divided into two primary areas: power generation and related services. The generation division is responsible for producing and supplying electricity to both public sector entities and industrial clients. Meanwhile, the services segment specializes in the maintenance and operational management of power facilities. B.Grimm Power employs a varied energy mix, including combined heat and power (CHP), solar, hydroelectric, wind, hybrid systems, and waste-to-energy technologies. As of December 31, 2021, its portfolio boasted 53 operational power plants, collectively providing an installed capacity of 3,254 megawatts. Founded in 1878, the company maintains its headquarters in Bangkok, Thailand.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
THB18.40 -0.60 (-3.16%)
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Volume Profile
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Liquidity & share structure
Average Volume
23M
Beta
1.00
Float Shares
784.42M
Free Float %
30.1%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+1.50% -1.46% +10.66% -11.18% -6.25% -4.26% +14.41% -63.51% -66.46% -15.63% -15.63%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
18.40
DCF (Unlevered) 3.51 -80.9%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 57% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 8 0
Hold 4 0
Sell 0 -2
Strong Sell 2 0
Quality scores
Altman Z-Score
0.75
Distress
Piotroski F-Score
6 / 9
Average
MOAT Score
5 / 10
Developing
Composite Rating
D+
Overall Score
1 / 5
Low
DCF Score
1 / 5
Low
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
1 / 5
Low
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Independent Power Producers: +3.4%
    -0.8% Q1'26: -7.1% (vs Q1'25)
  • EPS growth Independent Power Producers: -2.8%
    +11.5% Q1'26: -100.0% (vs Q1'25)
  • FCF margin FCF growth · Independent Power Producers: +37.9%
    +9.5% Q1'26: -27.5% (vs Q1'25)
  • EBIT margin Independent Power Producers: +18.7%
    +13.5% Q1'26: +16.0% (vs Q1'25)
  • ROIC Independent Power Producers: +4.3%
    +4.1%
  • Share dilution Independent Power Producers: +0.0%
    +0.0% Q1'26: -100.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Independent Power Producers: 3.09×
    9.34× Q1'26: 15.08× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.01) × ERP
WACC = 22% × Ke + 78% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 3.35 Current price: 18.40
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
12 Rev. Ana.
11 EPS Ana.
Dec 2027
12 Rev. Ana.
11 EPS Ana.
Dec 2028
7 Rev. Ana.
6 EPS Ana.
Revenue
31.48B
est: 31.38B (+0.3%)
36.59B
est: 36.02B (+1.6%)
44.13B
est: 42.56B (+3.7%)
44.09B
est: 44.06B (+0.1%)
46.63B
est: 46.45B (+0.4%)
62.40B
est: 63.47B (-1.7%)
57.12B
est: 54.29B (+5.2%)
55.85B
est: 55.49B (+0.7%)
55.39B
est: 56.19B (-1.4%)
56.59B
52.03B – 65.08B
+0.7% YoY
57.41B
50.97B – 67.31B
+1.4% YoY
59.52B
59.50B – 59.55B
+3.7% YoY
EBITDA
7.28B
est: 7.41B (-1.7%)
9.15B
est: 8.50B (+7.6%)
11.97B
est: 10.05B (+19.1%)
12.70B
est: 10.40B (+22.1%)
12.20B
est: 10.97B (+11.2%)
8.20B
est: 14.98B (-45.3%)
14.05B
est: 14.67B (-4.2%)
14.15B
est: 14.99B (-5.6%)
13.16B
est: 15.18B (-13.3%)
15.29B
14.06B – 17.58B
+0.7% YoY
15.51B
13.77B – 18.18B
+1.4% YoY
16.08B
16.07B – 16.09B
+3.7% YoY
EBIT
6.67B
est: 4.21B (+58.3%)
5.81B
est: 4.83B (+20.1%)
7.31B
est: 5.71B (+28.0%)
7.21B
est: 5.91B (+21.9%)
7.06B
est: 6.23B (+13.2%)
3.21B
est: 8.52B (-62.3%)
8.72B
est: 9.04B (-3.5%)
8.49B
est: 9.24B (-8.2%)
7.48B
est: 9.36B (-20.1%)
9.43B
8.67B – 10.84B
+0.7% YoY
9.56B
8.49B – 11.21B
+1.4% YoY
9.91B
9.91B – 9.92B
+3.7% YoY
Net Income
2.13B
est: 2.42B (-12.0%)
1.86B
est: 2.15B (-13.3%)
3.98B
est: 2.39B (+66.5%)
3.76B
est: 2.31B (+62.5%)
3.42B
est: 2.47B (+38.2%)
-898.09M
est: -118.65M (-656.9%)
1.88B
est: 432.85M (+335.4%)
1.56B
est: 1.81B (-14.1%)
1.68B
est: 1.79B (-6.2%)
2.08B
1.02B – 3.36B
+16.6% YoY
2.53B
1.22B – 4.73B
+21.6% YoY
2.67B
2.25B – 3.15B
+5.2% YoY
SGA
1.26B
est: 1.24B (+1.8%)
1.41B
est: 1.42B (-1.1%)
1.86B
est: 1.68B (+10.8%)
2.04B
est: 1.74B (+17.0%)
1.67B
est: 1.84B (-8.9%)
1.86B
est: 2.51B (-26.0%)
2.29B
est: 2.17B (+5.2%)
2.56B
est: 2.22B (+15.1%)
2.70B
est: 2.25B (+20.0%)
2.27B
2.08B – 2.60B
+0.7% YoY
2.30B
2.04B – 2.69B
+1.4% YoY
2.38B
2.38B – 2.38B
+3.7% YoY
EPS
0.96
est: 0.93 (+3.5%)
0.71
est: 0.82 (-13.8%)
0.88
est: 0.92 (-3.9%)
0.68
est: 0.89 (-23.3%)
0.72
est: 0.95 (-24.1%)
-0.63
est: -0.04 (-1,361.3%)
0.44
est: 0.18 (+139.2%)
0.26
est: 0.67 (-61.1%)
0.29
est: 0.72 (-59.5%)
0.91
0.39 – 1.29
+27.2% YoY
1.10
0.47 – 1.81
+20.8% YoY
1.06
0.86 – 1.21
-4.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-14 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-13 C+ 2/5 1/5 2/5 2/5 1/5 2/5 4/5
2026-05-12 C+ 2/5 1/5 2/5 2/5 1/5 2/5 4/5
2026-05-11 C+ 2/5 1/5 2/5 2/5 1/5 2/5 4/5
2026-05-08 C+ 2/5 1/5 2/5 3/5 1/5 2/5 4/5
2026-05-07 C+ 2/5 1/5 2/5 3/5 1/5 2/5 4/5
2026-05-06 C+ 2/5 1/5 2/5 3/5 1/5 2/5 4/5
2026-05-05 B- 2/5 1/5 2/5 3/5 1/5 3/5 4/5
2026-04-30 C+ 2/5 1/5 2/5 3/5 1/5 2/5 4/5
2026-04-29 C+ 2/5 1/5 2/5 3/5 1/5 2/5 4/5
2026-04-28 C+ 2/5 1/5 2/5 3/5 1/5 2/5 4/5
2026-04-27 B- 2/5 1/5 2/5 4/5 1/5 2/5 4/5
2026-04-24 C+ 2/5 1/5 2/5 4/5 1/5 2/5 3/5
2026-04-23 C+ 2/5 1/5 2/5 4/5 1/5 2/5 3/5
2026-04-22 C+ 2/5 1/5 2/5 4/5 1/5 2/5 3/5
2026-04-21 B- 2/5 1/5 2/5 4/5 1/5 2/5 4/5
2026-04-20 B- 2/5 1/5 2/5 4/5 1/5 2/5 4/5
2026-04-17 B- 2/5 1/5 2/5 4/5 1/5 2/5 4/5
2026-04-16 B- 2/5 1/5 2/5 4/5 1/5 2/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
7.46B
OE per share TTM
2.86
Owner's Yield
21.19%
Maintenance CapEx ratio
1,064.55%
Maint CapEx / Avg PPE
170.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 3 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 State Street SPDR S&P Emerging Markets Small Cap ETF EWX 0.05% 387.4K 0.65%
2 Dimensional - Emerging Markets Core Equity 2 ETF DFEM 0.00% 121.1K 0.39%
3 Dimensional World ex U.S. Core Equity 2 ETF DFAX 0.00% 89.3K 0.28%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
6.45M
Shares Outstanding
2.61B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Harald Link President & Chairman 805.9K
Don Tayatan Executive VP of Engineering Technology, Project Development & Construction male
Nattchanon Chawinsittangkul First AVice President - Investor Relations & Head of Investor Relations female
Nopadej Karnasuta Co-President of Thailand, Malaysia and Energy & Industrial Solutions Business male
Paitool Paisalsukwittaya Executive VP of Project Development & Construction male
Peradach Patanachan Co-President of Renewable Energy Business male
Saroche Arunpairojkul Executive Vice President of Industrial Customer Relations & Operation Management male
Siriwong Borvornboonrutai Chief Financial Officer & Co-President of Finance and Accounting female
Surasak Towanich Executive VP of Operations & Transmission Management male
Arunphun Pootong Executive Vice President of Engineering, Middle East Region & LNG Business male
Thanakrit Likitwong Senior Vice President & Head of Internal Audit male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits