Company Valuation: BEC World

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 28,200 20,200 9,760 7,800 3,780 3,720 - -
Change - -28.37% -51.68% -20.08% -51.54% -1.59% - -
Enterprise Value (EV) 1 26,482 18,240 8,944 5,384 280.8 873.4 3,720 3,720
Change - -31.12% -50.96% -39.8% -94.79% 211.05% 325.93% 0%
P/E 37.1x 33.7x 44.4x 78x 18.9x 21.9x 20.7x 23.3x
PBR 4.55x 3.24x 1.59x 1.28x 0.62x 0.58x 0.6x 0.59x
PEG - -1.6x -0.7x -1.4x 0x -1.5x 3.52x -2.1x
Capitalization / Revenue 4.96x 3.95x 2.1x 1.83x 0.95x 0.89x 1x 0.98x
EV / Revenue 4.66x 3.57x 1.92x 1.27x 0.07x 0.21x 1x 0.98x
EV / EBITDA 8.33x 6.66x 4.4x 3.25x 0.18x 0.54x 2.31x 2.39x
EV / EBIT 24.3x 22.1x 27x 34x 1.19x 4.12x 15.6x -
EV / FCF 7.39x 20.8x 4.69x 3.65x 0.2x 0.9x 2.43x -
FCF Yield 13.5% 4.82% 21.3% 27.4% 495% 111% 41.1% -
Dividend per Share 2 0.25 - 0.06 0.08 0.1 0.0886 0.065 0.04
Rate of return 1.77% - 1.23% 2.05% 5.29% 4.77% 3.49% 2.15%
EPS 2 0.38 0.3 0.11 0.05 0.1 0.085 0.09 0.08
Distribution rate 65.8% - 54.5% 160% 100% 104% 72.2% 50%
Net sales 1 5,680 5,115 4,653 4,251 3,980 4,186 3,734 3,781
EBITDA 1 3,179 2,739 2,035 1,655 1,587 1,616 1,610 1,559
EBIT 1 1,090 824.4 331.2 158.4 235.7 212 239 -
Net income 1 761.6 607 210 96.28 205.8 178.5 176.5 169
Net Debt 1 -1,718 -1,960 -815.8 -2,416 -3,499 -2,847 - -
Reference price 2 14.100 10.100 4.880 3.900 1.890 1.860 1.860 1.860
Nbr of stocks (in thousands) 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 - -
Announcement Date 18/02/22 24/02/23 23/02/24 21/02/25 20/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.88x0.21x0.54x4.77% 111M
18.51x2.17x9.72x1.43% 182B
-27.42x2.88x12.44x-.--% 77.46B
10.51x1.45x6.23x0.93% 24.88B
41.99x6.04x25.97x-.--% 23.13B
8.65x2.11x6.86x4.2% 8.68B
17.08x1.81x19.42x1.77% 5.51B
14.6x0.72x5.77x8.02% 4.99B
5.06x2x5.59x4.58% 4.97B
7.7x0.99x3.16x3.8% 4.48B
Average 11.86x 2.04x 9.57x 2.95% 33.62B
Weighted average by Cap. 8.28x 2.50x 11.08x 1.22%

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