Company Valuation: AAPICO Hitech

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 9,581 10,557 9,936 5,478 4,235 5,176 - -
Change - 10.19% -5.88% -44.86% -22.7% 22.22% - -
Enterprise Value (EV) 1 17,048 13,807 13,200 9,150 7,917 7,849 5,176 6,804
Change - -19.02% -4.39% -30.68% -13.47% -0.87% -34.06% 31.46%
P/E 9.34x 5.79x 6.17x 7.58x 5.78x 6.77x 6.15x 5.24x
PBR 1.13x 1.1x 0.92x 0.55x 0.39x - - -
PEG - 0.1x -0.5x -0.1x 4.14x 1.55x 0.6x 0.3x
Capitalization / Revenue 0.47x 0.38x 0.33x 0.21x 0.16x 0.2x 0.19x 0.2x
EV / Revenue 0.83x 0.49x 0.44x 0.34x 0.31x 0.31x 0.19x 0.26x
EV / EBITDA 10x 5.16x 4.41x 4.97x 3.72x 3.9x 2.44x 2.8x
EV / EBIT 25.5x 9.06x 7.62x 16.9x 15.1x 13.1x - 6.44x
EV / FCF 8.65x 12.7x 10.8x 22.3x 20.1x 10.5x 4.71x 6.13x
FCF Yield 11.6% 7.89% 9.27% 4.48% 4.98% 9.49% 21.2% 16.3%
Dividend per Share 2 0.94 1.54 1.65 0.78 0.79 0.83 0.98 1.18
Rate of return 3.48% 5.18% 5.89% 4.79% 6.27% 5.39% 6.36% 7.66%
EPS 2 2.89 5.14 4.54 2.15 2.18 2.275 2.505 2.94
Distribution rate 32.5% 30% 36.3% 36.3% 36.2% 36.5% 39.1% 40.1%
Net sales 1 20,433 27,967 30,034 26,588 25,780 25,492 27,070 26,289
EBITDA 1 1,699 2,678 2,994 1,840 2,126 2,012 2,119 2,434
EBIT 1 668.5 1,524 1,731 541.3 524 599 - 1,057
Net income 1 1,024 1,824 1,610 747 731.4 784.5 864.5 989
Net Debt 1 7,468 3,250 3,264 3,672 3,683 2,673 - 1,628
Reference price 2 27.00 29.75 28.00 16.30 12.60 15.40 15.40 15.40
Nbr of stocks (in thousands) 354,842 354,842 354,842 336,087 336,087 336,087 - -
Announcement Date 28/02/22 28/02/23 29/02/24 28/02/25 28/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
6.77x0.31x3.9x5.39% 154M
20.36x1.38x10.65x1.85% 43.21B
15.46x0.63x4.65x3.77% 31.77B
12.21x0.65x5.44x3.73% 32.56B
10.2x0.62x8.12x1.44% 28.91B
13.6x2.48x8.7x4.34% 20.13B
10.98x0.51x5.03x2.98% 18.1B
12.09x1.06x6.01x4.15% 16.54B
27.73x1.1x11.51x0.58% 15.82B
27.39x2.53x15.07x1.11% 12.99B
Average 15.68x 1.13x 7.91x 2.93% 22.02B
Weighted average by Cap. 16.04x 1.12x 8.01x 2.71%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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