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Maybank Securities (Thailand) Public Company Limited (MST.BK)

THB8.10 +0.05 (+0.62%)
TH SET Financial Services Financial - Capital Markets
Address No. 999/9, The Offices at Central World 10330
Bangkok, TH
CEO Arapat Sangkharat
Website maybank-ke.co.th
IPO 2003-12-03
ISIN TH0744010Y04

Explore sections of this company profile

Description

Maybank Securities (Thailand) Public Company Limited, identified by the symbol MST.BK, offers a comprehensive spectrum of investment and financial services to institutional and individual clientele throughout Thailand. Its activities are segmented into two core areas: Securities Business and Investment Banking. Within the Securities Business division, the company provides services such as online and retail brokerage, derivatives and warrants trading, offshore trading, mutual funds, block trades, and institutional sales, additionally acting as a broker agent. The Investment Banking segment specializes in advisory services, encompassing securities offerings, mergers and acquisitions (M&A), independent financial advice, and debt and corporate restructuring. This segment further handles investment management, underwriting, and transactions involving securities trading, borrowing, and lending. Established in 1996 and headquartered in Bangkok, Thailand, the firm was formerly known as Maybank Kim Eng Securities (Thailand) Public Company Limited until its rebranding in November 2021. A subsidiary of Maybank Kim Eng Holdings Limited, it operated 28 branches across Bangkok and upcountry regions as of December 31, 2021.

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
THB8.10 +0.05 (+0.62%)
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Volume Profile
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Liquidity & share structure
Average Volume
54.8K
Beta
0.02
Float Shares
79.40M
Free Float %
13.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.71% +0.71% +4.41% +1.43% +2.16% +5.97% -3.40% -34.86% -48.18% -68.44% -80.28%
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
8.10
DCF (Unlevered) 67.26 +730.4%
DCF (Levered) 63.71 +686.6%

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)
Rating 2024-11 Change
Strong Buy 0 0
Buy 0 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
1.14
Distress
Piotroski F-Score
9 / 9
Strong
MOAT Score
5 / 10
Developing
Composite Rating
B
Overall Score
3 / 5
Medium
DCF Score
4 / 5
High
ROE Score
2 / 5
Medium
ROA Score
4 / 5
High
D/E Score
1 / 5
Low
P/E Score
2 / 5
Medium
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • ✗
    Revenue growth Financial - Capital Markets: +19.7%
    -2.0% Q1'26: +129.9% (vs Q1'25)
  • ✗
    EPS growth Financial - Capital Markets: +35.3%
    -53.1% Q1'26: +34.8% (vs Q1'25)
  • ✓
    FCF margin FCF growth · Financial - Capital Markets: +29.5%
    +224.1% ★ Q1'26: -11.0% (vs Q1'25)
  • ✓
    EBIT margin Financial - Capital Markets: +33.5%
    +22.6% Q1'26: +51.5% (vs Q1'25)
  • ✗
    ROIC Financial - Capital Markets: +4.0%
    +3.8% Q1'26: +9.0% (vs Q1'25)
  • ✗
    Share dilution Financial - Capital Markets: +0.0%
    +2.1% Q1'26: -1.0% (vs Q1'25)
  • ✗
    Debt / EBITDA Net debt/EBITDA · Financial - Capital Markets: -0.30×
    9.28× Q1'26: 4.92× (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 (0.01) × ERP
WACC = 42% × Ke + 58% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 67.26 Current price: 8.10
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 2015
actual 		Dec 2016
actual 		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
1 Rev. Ana.
1 EPS Ana. 		Dec 2027
1 Rev. Ana.
1 EPS Ana. 		Dec 2028
1 Rev. Ana.
1 EPS Ana.
Revenue
2.79B
est: 4.05B (-31.0%)
2.95B
est: 3.67B (-19.5%)
2.59B
est: 3.33B (-22.2%)
2.09B
est: 2.90B (-28.0%)
2.13B
est: 2.39B (-10.5%)
2.92B
est: 2.17B (+34.4%)
3.47B
est: 3.59B (-3.5%)
2.73B
est: 2.83B (-3.3%)
2.37B
est: 2.70B (-12.3%)
2.27B
est: 2.74B (-17.4%)
2.22B
est: 2.41B (-7.9%)
2.48B
2.48B – 2.48B
+2.7% YoY
2.50B
2.50B – 2.50B
+0.7% YoY
2.52B
2.52B – 2.52B
+0.8% YoY
EBITDA
1.87B
est: 1.72B (+8.9%)
1.71B
est: 1.56B (+9.8%)
1.25B
est: 1.41B (-11.6%)
917.89M
est: 1.23B (-25.5%)
704.02M
est: 1.01B (-30.4%)
973.89M
est: 919.80M (+5.9%)
1.33B
est: 1.52B (-12.4%)
1.18B
est: 1.20B (-1.2%)
1.07B
est: 1.14B (-6.8%)
1.17B
est: 1.14B (+3.3%)
627.55M
est: 997.95M (-37.1%)
1.02B
1.02B – 1.02B
+2.7% YoY
1.03B
1.03B – 1.03B
+0.7% YoY
1.04B
1.04B – 1.04B
+0.8% YoY
EBIT
1.77B
est: 1.52B (+16.4%)
1.61B
est: 1.38B (+16.8%)
1.15B
est: 1.25B (-7.6%)
837.02M
est: 1.09B (-23.1%)
645.43M
est: 894.18M (-27.8%)
838.66M
est: 812.86M (+3.2%)
1.20B
est: 1.35B (-10.7%)
1.05B
est: 1.06B (-0.8%)
933.21M
est: 1.01B (-7.8%)
1.04B
est: 994.40M (+4.9%)
501.75M
est: 874.09M (-42.6%)
897.64M
897.64M – 897.64M
+2.7% YoY
904.17M
904.17M – 904.17M
+0.7% YoY
911.41M
911.41M – 911.41M
+0.8% YoY
Net Income
1.02B
est: 1.04B (-2.4%)
974.49M
est: 976.09M (-0.2%)
638.63M
est: 893.33M (-28.5%)
391.29M
est: 416.69M (-6.1%)
254.75M
est: 216.91M (+17.4%)
484.45M
est: 148.41M (+226.4%)
760.79M
est: 759.18M (+0.2%)
628.23M
est: 593.65M (+5.8%)
364.91M
est: 382.45M (-4.6%)
462.13M
est: 472.13M (-2.1%)
220.51M
est: 314.75M (-29.9%)
408.01M
408.01M – 408.01M
+29.6% YoY
408.01M
408.01M – 408.01M
+0.0% YoY
425.50M
425.50M – 425.50M
+4.3% YoY
SGA
367.17M
est: 82.73M (+343.8%)
373.74M
est: 75.03M (+398.1%)
173.09M
est: 68.11M (+154.2%)
162.41M
est: 59.36M (+173.6%)
155.46M
est: 48.77M (+218.8%)
51.68M
est: 44.33M (+16.6%)
52.56M
est: 73.44M (-28.4%)
62.39M
est: 57.74M (+8.1%)
54.21M
est: 55.19M (-1.8%)
53.40M
est: 46.36M (+15.2%)
—
est: 40.75M (-100.0%)
41.85M
41.85M – 41.85M
+2.7% YoY
42.15M
42.15M – 42.15M
+0.7% YoY
42.49M
42.49M – 42.49M
+0.8% YoY
EPS
1.79
est: 1.83 (-2.2%)
1.71
est: 1.71 (+0.0%)
1.12
est: 1.57 (-28.4%)
0.69
est: 0.73 (-5.5%)
0.45
est: 0.38 (+18.4%)
0.85
est: 0.26 (+226.9%)
1.33
est: 1.33 (+0.0%)
1.10
est: 1.04 (+5.8%)
0.64
est: 0.67 (-4.5%)
0.81
est: 0.81 (+0.0%)
0.38
est: 0.54 (-29.6%)
0.70
0.70 – 0.70
+29.6% YoY
0.70
0.70 – 0.70
+0.0% YoY
0.73
0.73 – 0.73
+4.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 B 3/5 4/5 2/5 4/5 1/5 2/5 4/5
2026-05-28 B 3/5 4/5 2/5 4/5 1/5 2/5 4/5
2026-05-27 B 3/5 4/5 2/5 4/5 1/5 2/5 4/5
2026-05-26 B 3/5 4/5 2/5 4/5 1/5 2/5 4/5
2026-05-25 B 3/5 4/5 2/5 4/5 1/5 2/5 4/5
2026-05-22 B 3/5 4/5 2/5 4/5 2/5 2/5 3/5
2026-05-21 B 3/5 4/5 2/5 4/5 2/5 2/5 3/5
2026-05-20 B 3/5 4/5 2/5 4/5 2/5 2/5 3/5
2026-05-19 B 3/5 4/5 2/5 4/5 2/5 2/5 3/5
2026-05-18 B 3/5 4/5 2/5 4/5 2/5 2/5 3/5
2026-05-15 B+ 3/5 4/5 2/5 4/5 2/5 2/5 4/5
2026-05-14 B+ 3/5 4/5 2/5 4/5 2/5 2/5 4/5
2026-05-13 B+ 3/5 4/5 2/5 4/5 2/5 2/5 4/5
2026-05-12 B+ 3/5 4/5 2/5 4/5 2/5 2/5 4/5
2026-05-11 B+ 3/5 4/5 2/5 4/5 2/5 2/5 4/5
2026-05-08 B+ 3/5 4/5 2/5 4/5 2/5 2/5 4/5
2026-05-07 B+ 3/5 4/5 2/5 4/5 2/5 2/5 4/5
2026-05-06 B+ 3/5 4/5 2/5 4/5 2/5 2/5 4/5
2026-05-05 B+ 3/5 4/5 2/5 4/5 2/5 2/5 4/5
2026-04-30 B 3/5 4/5 2/5 4/5 1/5 2/5 4/5
2026-04-29 B+ 3/5 4/5 2/5 5/5 1/5 2/5 4/5
2026-04-28 B+ 3/5 4/5 2/5 5/5 1/5 2/5 4/5
2026-04-27 B+ 3/5 4/5 2/5 5/5 1/5 2/5 4/5
2026-04-24 B+ 3/5 4/5 2/5 5/5 1/5 2/5 4/5
2026-04-23 B+ 3/5 4/5 2/5 5/5 1/5 2/5 4/5
2026-04-22 B+ 3/5 4/5 2/5 5/5 1/5 2/5 4/5
2026-04-21 B+ 3/5 4/5 2/5 5/5 1/5 2/5 4/5
2026-04-20 B+ 3/5 4/5 2/5 5/5 1/5 2/5 4/5
2026-04-17 A- 4/5 5/5 3/5 5/5 1/5 2/5 4/5
2026-04-16 A- 4/5 5/5 3/5 5/5 1/5 2/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
5.71B
OE per share TTM
10.21
Owner's Yield
141.92%
Maintenance CapEx ratio
5.76%
Maint CapEx / Avg PPE
9.3%

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

This company is not held by any ETF in our universe.

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
596.6K
Shares Outstanding
570.81M

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
Oh-Lau Chong Jin Executive Director 600.0K male
Kanitta Teerabutwongkull Executive VP of Finance & Head of Finance — female
Nalyne Viriyasathien Managing Director of Investment Banking and Advisory — female
Netita Krabuanrat Managing Director of Investment Management — female
Noraratana Saisanan Na Ayudhya FSVP & Head of Compliance — male
Panu Nivatvongs Executive VP & MD of Institutional Brokerage — male
Sittiporn Sorngarn MD & Advisor of Retail IC – Up-Country — male
Swee Ong Koh Chief Operating Officer — male
Vasamon Srisanun Vice President of Accounting Department & Chief Accountant — female
Arapat Sangkharat Chief Executive Officer & Executive Director — male
Vichet Pornsinsiriruk Chief Information & Technology Officer — 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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These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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