Company Valuation: Bangkok Ranch

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,081 2,738 2,686 2,393 1,708 1,489
Change - 31.58% -1.93% -10.88% -28.63% -12.83%
Enterprise Value (EV) 1 7,855 7,780 7,404 7,315 6,418 5,345
Change - -0.96% -4.83% -1.21% -12.25% -16.72%
P/E -16.9x -49x 6.96x 7.97x 14.1x 10.5x
PBR 0.51x 0.68x 0.61x 0.51x 0.36x 0.3x
PEG - 0.9x -0x -0.4x -0.2x 0.6x
Capitalization / Revenue 0.34x 0.38x 0.31x 0.3x 0.23x 0.2x
EV / Revenue 1.27x 1.07x 0.86x 0.91x 0.86x 0.71x
EV / EBITDA 26.8x 15.7x 7.05x 7.03x 8.09x 6.82x
EV / EBIT -4,754x 35.6x 9.98x 10.4x 14.2x 11.6x
EV / FCF -72.1x 29.4x 23x -23.3x 19.9x 6.43x
FCF Yield -1.39% 3.4% 4.35% -4.29% 5.04% 15.6%
Dividend per Share 2 - - - - 0.02 0.02
Rate of return - - - - 1.07% 1.23%
EPS 2 -0.135 -0.0612 0.4223 0.3288 0.133 0.1549
Distribution rate - - - - 15% 12.9%
Net sales 1 6,194 7,277 8,563 8,034 7,421 7,559
EBITDA 1 292.9 496.5 1,051 1,041 793.6 784.3
EBIT 1 -1.652 218.8 741.7 705 453.2 460.5
Net income 1 -123.2 -55.83 385.6 300.4 121.5 141.5
Net Debt 1 5,774 5,041 4,719 4,922 4,710 3,856
Reference price 2 2.280 3.000 2.940 2.620 1.870 1.630
Nbr of stocks (in thousands) 912,797 912,797 913,447 913,447 913,447 913,447
Announcement Date 26/02/21 01/03/22 02/03/23 28/02/24 28/02/25 24/02/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 53.82M
18.92x0.45x7.33x3.92% 18.16B
14x0.35x5.89x7.11% 14.07B
15.87x1.45x10.56x6.08% 12.2B
7.54x0.41x3.57x8.09% 11.97B
16.53x1.15x10.23x5.39% 11.93B
8.76x0.57x5.31x5.32% 8.67B
17.27x0.53x7.04x-.--% 7.26B
29.33x0.44x5.6x0.74% 4.98B
10.99x0.42x4.5x1.95% 4.29B
Average 15.47x 0.64x 6.67x 4.29% 9.36B
Weighted average by Cap. 15.14x 0.66x 6.99x 4.97%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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