Company Valuation: Forth Smart Service

Data adjusted to current consolidation scope
Fiscal Period: December 2022 2024 2025 2026 2027
Market Cap 1 9,716 6,063 4,895 5,046 -
Change - - -19.25% 3.08% -
Enterprise Value (EV) 9,716 6,063 5,335 5,046 5,046
Change - - -12.01% -5.41% 0%
P/E 32.3x 14.1x 8.33x 7.61x 7.28x
PBR - - 2.81x - -
PEG - - 0.2x 0.6x 1.6x
Capitalization / Revenue - - 1.95x 1.94x 1.85x
EV / Revenue - - 0x 1.94x 1.85x
EV / EBITDA - - 0x 4.96x 4.69x
EV / EBIT - - - - -
EV / FCF - - - - -
FCF Yield - - - - -
Dividend per Share 2 - - 0.38 0.39 0.41
Rate of return - - 5.85% 5.82% 6.12%
EPS 2 0.4 0.57 0.78 0.88 0.92
Distribution rate - - 48.7% 44.3% 44.6%
Net sales 1 - - 2,507 2,595 2,721
EBITDA 1 - - 932.7 1,017 1,077
EBIT - - 566.3 - -
Net income 1 301.9 430.4 586.8 660 694
Net Debt - - 439.4 - -
Reference price 2 12.900 8.050 6.500 6.700 6.700
Nbr of stocks (in thousands) 753,141 753,141 753,141 753,141 -
Announcement Date 24/02/23 28/02/25 26/02/26 - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.79x14.68x20.86x0.75% 662B
35.02x6.42x22.78x1.03% 77.11B
23.5x4.6x10.13x0.72% 67.29B
-106.62x24.05x57.83x-.--% 66.55B
10.38x1.38x7.12x1.06% 45.17B
45.17x1.67x9.32x-.--% 44.93B
19.68x3.36x8.01x1.61% 31.59B
19.79x6.06x11.56x-.--% 25.91B
9.41x2.53x6.09x-.--% 23.59B
Average 9.46x 7.19x 17.08x 0.57% 116.02B
Weighted average by Cap. 19.25x 12.05x 20.62x 0.69%

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