Company Valuation: Sub Sri Thai

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,163 2,817 3,554 2,711 1,958 768.6
Change - 142.13% 26.17% -23.7% -27.77% -60.75%
Enterprise Value (EV) 1 4,135 5,892 7,493 6,616 5,798 4,377
Change - 42.48% 27.17% -11.7% -12.37% -24.5%
P/E -4.15x -85.3x 29.9x -5,207x -6.51x -1.44x
PBR 0.57x 1.43x 1.73x 1.33x 1.01x 0.54x
PEG - 1x -0x 52x -0x -0x
Capitalization / Revenue 0.43x 1.04x 0.85x 0.66x 0.56x 0.28x
EV / Revenue 1.51x 2.17x 1.79x 1.62x 1.66x 1.57x
EV / EBITDA 37x 24.9x 18.3x 19.6x -73.4x -8.69x
EV / EBIT -66x 74.2x 29.8x 35.5x -24.5x -6.73x
EV / FCF 11.7x 17.7x -75.2x 17.5x 24.5x 66.2x
FCF Yield 8.56% 5.66% -1.33% 5.73% 4.08% 1.51%
Dividend per Share 2 0.0057 0.03 0.045 0.01 - -
Rate of return 0.26% 0.56% 0.67% 0.19% - -
EPS 2 -0.5319 -0.0627 0.2254 -0.000989 -0.5713 -1.013
Distribution rate -1.07% -47.8% 20% -1,011% - -
Net sales 1 2,730 2,716 4,192 4,090 3,493 2,784
EBITDA 1 111.6 236.7 408.5 336.8 -79.02 -504
EBIT 1 -62.67 79.43 251.4 186.5 -236.6 -650.5
Net income 1 -280 -33.01 118.7 -0.521 -300.8 -533.1
Net Debt 1 2,972 3,075 3,939 3,905 3,840 3,609
Reference price 2 2.210 5.350 6.750 5.150 3.720 1.460
Nbr of stocks (in thousands) 526,457 526,457 526,457 526,457 526,457 526,457
Announcement Date 01/03/21 25/02/22 27/02/23 28/02/24 28/02/25 27/02/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 16.21M
21.73x8.39x15.2x2.7% 197B
47.42x3.7x23.96x2.37% 121B
25.64x1.29x12.7x2.16% 58B
26.28x6.31x18.35x1.81% 44.68B
33.07x3.82x22.43x-.--% 44.78B
16.21x4.01x12.58x3.29% 27.36B
20.34x2.06x12.46x2.85% 25.87B
16.89x1.24x8.21x2.39% 16.94B
27.82x0.89x11.48x0.95% 13.26B
Average 26.16x 3.52x 15.26x 2.06% 54.87B
Weighted average by Cap. 28.76x 5.14x 17.15x 2.26%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Sub Sri Thai

Historical PBR trend

Valuation ratios - PBR - Sub Sri Thai

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Sub Sri Thai

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Sub Sri Thai

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