Company Valuation: Scan Inter

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,052 2,496 2,544 2,040 740.4 485.5
Change - 21.64% 1.92% -19.81% -63.71% -34.43%
Enterprise Value (EV) 1 4,612 5,068 4,761 4,584 3,180 2,576
Change - 9.88% -6.05% -3.73% -30.62% -19%
P/E 47.3x 36.6x 7.42x 12.2x -3.4x -1.31x
PBR 0.79x 0.93x 0.85x 0.66x 0.26x 0.2x
PEG - 0.6x 0x -0.2x 0x -0x
Capitalization / Revenue 1.37x 1.48x 1.82x 1.09x 0.46x 0.37x
EV / Revenue 3.08x 3.01x 3.4x 2.44x 1.99x 1.94x
EV / EBITDA 25.5x 19.6x 26.3x 16.9x 19.8x 23.8x
EV / EBIT 93.2x 46.9x 71.2x 27.3x 44.5x 126x
EV / FCF -98.6x -11.5x 20.9x -188x 12.5x -183x
FCF Yield -1.01% -8.71% 4.79% -0.53% 7.98% -0.55%
Dividend per Share 2 0.0425 0.055 0.055 0.0124 - -
Rate of return 2.49% 2.64% 2.59% 0.73% - -
EPS 2 0.0361 0.0569 0.2856 0.1398 -0.1794 -0.3063
Distribution rate 118% 96.7% 19.3% 8.87% - -
Net sales 1 1,496 1,686 1,400 1,878 1,596 1,330
EBITDA 1 181.1 259.2 181.3 272 160.6 108.2
EBIT 1 49.51 108.1 66.84 168 71.53 20.5
Net income 1 43.37 68.23 342.7 167.8 -217.4 -371.1
Net Debt 1 2,560 2,572 2,217 2,544 2,440 2,091
Reference price 2 1.7100 2.0800 2.1200 1.7000 0.6100 0.4000
Nbr of stocks (in thousands) 1,200,000 1,200,000 1,200,000 1,200,000 1,213,717 1,213,722
Announcement Date 25/02/21 25/02/22 24/02/23 20/02/24 28/02/25 27/02/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.13x3.28x14.19x5.16% 16.14B
11.78x7.06x9.22x5.52% 10.21B
13.98x5.8x20.63x9.5% 8.38B
10.26x0.52x4.26x5.57% 8.04B
9.23x0.19x2.36x5.45% 7.68B
12.44x - - 4.27% 7.53B
7.38x0.49x4.59x6.84% 6.62B
20.67x5.45x11.58x2.8% 6.61B
Average 13.36x 3.26x 9.55x 5.64% 8.9B
Weighted average by Cap. 14.20x 3.43x 10.29x 5.64%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA