Analysts from Bualuang Securities Public Company Limited expect CBG's core profit in the third quarter of 2026 to be around 736 million baht, up 19% from the same period last year and flat from the previous quarter. Meanwhile, OSP is expected to see a decline to around 665 million baht, down 5% year-on-year and down 40% quarter-on-quarter. CBG is supported by domestic energy drink sales growing 10% and sales in Myanmar increasing 70%. In contrast, OSP faces seasonally weak sales in the CLMV group and higher packaging costs. Analysts view CBG as a top pick due to its strong revenue growth momentum. Although OSP trades at a lower 2027 P/E of 13.2 times compared to 17.2 times for CBG, CBG deserves a premium valuation given its expected 2027 profit growth of 15% versus 7% for OSP, and its ROE is projected to improve to 20.7% in 2027.
Carabao Group Public Company LimitedDomestic energy drink sales growing 10% and Myanmar sales up 70% drive profit growth.
Osotspa Public Company LimitedSeasonally weak CLMV sales and higher packaging costs lead to profit decline.
