Company Valuation: NFC

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 3,068 4,134 5,657 3,372 1,784 1,338
Change - 34.75% 36.84% -40.38% -47.1% -25%
Enterprise Value (EV) 1 4,468 6,036 10,811 8,819 7,317 6,925
Change - 35.11% 79.1% -18.42% -17.04% -5.35%
P/E -350x 11.7x 37.6x 18.6x 42.6x 13.9x
PBR 3.31x 3.23x 3.97x 2.39x 1.03x 0.73x
PEG - -0x -0.7x 0.9x -0.6x 0x
Capitalization / Revenue 4.26x 3.03x 2.06x 1.87x 0.94x 0.62x
EV / Revenue 6.21x 4.42x 3.94x 4.89x 3.88x 3.22x
EV / EBITDA 63.6x 163x 54.1x 18.9x 15.7x 14x
EV / EBIT -329x -210x 70.9x 22.6x 20.2x 19.2x
EV / FCF -10.6x -6.22x 29x 95.3x 38.8x 32.5x
FCF Yield -9.43% -16.1% 3.45% 1.05% 2.57% 3.08%
Dividend per Share 2 - - 0.18 - - -
Rate of return - - 3.46% - - -
EPS 2 -0.008055 0.3244 0.1382 0.1664 0.0385 0.0885
Distribution rate - - 130% - - -
Net sales 1 719.3 1,364 2,746 1,803 1,888 2,152
EBITDA 1 70.3 37.05 199.9 465.5 467.3 496
EBIT 1 -13.58 -28.7 152.5 390.1 361.4 360.2
Net income 1 -8.763 352.9 150.4 181 41.87 96.3
Net Debt 1 1,400 1,902 5,154 5,447 5,533 5,587
Reference price 2 2.820 3.800 5.200 3.100 1.640 1.230
Nbr of stocks (in thousands) 1,087,833 1,087,833 1,087,833 1,087,833 1,087,833 1,087,833
Announcement Date 23/02/21 24/02/22 23/02/23 28/02/24 26/02/25 27/02/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 40.39M
20.94x3.77x10.64x1.89% 74.47B
13.08x0.92x7.68x4.47% 50.99B
59.75x9.66x40.97x0.92% 18.02B
13.8x0.9x6.37x2.65% 14.4B
13.94x0.76x5.16x2.65% 10.32B
16.06x0.72x7.92x3.04% 10.26B
36.83x1.74x9.2x2% 9.73B
32.47x4.43x18.97x0.36% 8.09B
5.31x0.68x3.17x-.--% 7.29B
Average 23.58x 2.62x 12.23x 2% 20.36B
Weighted average by Cap. 21.96x 2.89x 11.86x 2.48%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA