Company Valuation: Samart Aviation Solutions

Data adjusted to current consolidation scope
Fiscal Period: December 2023 2024 2025 2026 2027 2028
Market Cap 1 10,304 12,288 7,470 7,087 - -
Change - 19.25% -39.21% -5.13% - -
Enterprise Value (EV) 10,304 11,700 7,470 7,087 7,087 7,087
Change - 13.55% -36.16% -5.13% 0% 0%
P/E 35x 26.3x 13.8x 13.3x 11.3x 10.6x
PBR 8.08x 8.06x 5.43x 4.39x 4.54x -
PEG 1.1x 0.4x 0.8x -6.78x 0.6x 1.48x
Capitalization / Revenue 6.27x 7x 3.61x 3.69x 3.28x 3x
EV / Revenue 0x 0x 0x 3.69x 3.28x 3x
EV / EBITDA 0x 0x 0x 9.07x 7.79x 6.87x
EV / EBIT 0x 0x 0x 9.26x 8.44x -
EV / FCF 0x 0x 0x 13.2x 12x -
FCF Yield 2.94% 4.2% 8.79% 7.58% 8.37% -
Dividend per Share 2 0.75 1.1 0.9 0.74 0.84 0.84
Rate of return 4.66% 5.73% 7.69% 6.67% 7.57% 7.57%
EPS 2 0.46 0.73 0.85 0.8333 0.98 1.05
Distribution rate 163% 151% 106% 88.8% 85.7% 80%
Net sales 1 1,644 1,756 2,071 1,918 2,157 2,360
EBITDA 1 579.1 710 826.2 781 909.7 1,031
EBIT 1 514.8 642.5 753.3 765 840 -
Net income 1 271.6 464.3 545.8 533.7 628.3 675
Net Debt - -588 - - - -
Reference price 2 16.10 19.20 11.70 11.10 11.10 11.10
Nbr of stocks (in thousands) 640,000 640,000 638,425 638,425 - -
Announcement Date 21/02/24 19/02/25 27/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.32x - - 6.67% 211M
46.58x13.56x23.95x1.27% 27.19B
19.6x3.23x9.99x1.48% 7.15B
13.98x5.86x8.72x5.89% 5.08B
21.92x4.17x10.67x3.35% 4.76B
136x - - 0.37% 4.58B
15.87x5.9x9.75x6.32% 3.73B
26.38x2.61x10.34x5.96% 3.13B
26.37x1.56x5.35x1.92% 3B
Average 35.56x 5.27x 11.26x 3.69% 6.54B
Weighted average by Cap. 41.28x 8.81x 16.70x 2.42%

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

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  4. Valuation Samart Aviation Solutions