Company Valuation: Indorama Ventures

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 242,829 228,793 152,997 139,802 90,394 150,189 - -
Change - -5.78% -33.13% -8.62% -35.34% 66.15% - -
Enterprise Value (EV) 1 450,600 461,362 388,646 384,702 326,544 378,562 356,858 339,781
Change - 2.39% -15.76% -1.01% -15.12% 15.93% -5.73% -4.79%
P/E 9.51x 7.56x -13.2x -6.82x -12.3x 19.7x 18.3x 16.3x
PBR 1.53x 1.23x 0.93x 1.11x 0.77x 1.21x 1.13x 1.06x
PEG - 0.4x 0x -0.1x 0.2x -0x 2.38x 1.3x
Capitalization / Revenue 0.52x 0.35x 0.28x 0.26x 0.2x 0.31x 0.31x 0.3x
EV / Revenue 0.96x 0.7x 0.72x 0.71x 0.73x 0.77x 0.73x 0.68x
EV / EBITDA 7.06x 6.17x 11.3x 9.37x 13.2x 8.04x 7.26x 6.58x
EV / EBIT 10.7x 9.41x 58.2x 29.4x -382x 15.7x 15.3x 13.3x
EV / FCF 32.6x 8.81x 13.3x 20.2x 10.8x 36.8x 20.2x 14.2x
FCF Yield 3.07% 11.3% 7.49% 4.96% 9.24% 2.72% 4.95% 7.02%
Dividend per Share 2 1 1.45 0.925 0.7 0.7 0.7125 0.7883 0.83
Rate of return 2.31% 3.56% 3.39% 2.81% 4.35% 2.66% 2.95% 3.1%
EPS 2 4.55 5.39 -2.06 -3.65 -1.309 1.356 1.461 1.639
Distribution rate 22% 26.9% -44.9% -19.2% -53.5% 52.5% 54% 50.7%
Net sales 1 468,108 656,266 541,458 541,583 447,246 488,839 489,161 496,922
EBITDA 1 63,825 74,772 34,373 41,078 24,681 47,088 49,138 51,635
EBIT 1 42,089 49,050 6,675 13,089 -854.8 24,070 23,344 25,528
Net income 1 26,288 31,006 -10,798 -19,262 -7,348 7,575 8,326 9,371
Net Debt 1 207,771 232,569 235,649 244,900 236,150 228,373 206,669 189,592
Reference price 2 43.25 40.75 27.25 24.90 16.10 26.75 26.75 26.75
Nbr of stocks (in thousands) 5,614,552 5,614,552 5,614,552 5,614,552 5,614,552 5,614,552 - -
Announcement Date 27/02/22 25/02/23 23/02/24 26/02/25 02/03/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
28.98x6.66x17.03x1.36% 219B
27.63x4.29x13.8x2.1% 124B
28.95x3.53x18.1x0.99% 78.02B
82.12x6.18x14.36x2.6% 61.96B
18.73x6.03x29.96x3.67% 63.58B
62.05x1.27x8.46x6.41% 36.8B
10.99x1.17x6.34x3.02% 32.16B
9.04x3.03x7.11x4.67% 24.35B
43.83x5.6x29.79x1.3% 24.04B
Average 34.70x 4.20x 16.11x 2.9% 73.69B
Weighted average by Cap. 33.47x 5.01x 16.65x 2.27%

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

  1. Stock Market
  2. Stocks
  3. IVL Stock
  4. I93A Stock
  5. Valuation Indorama Ventures