Valuation Thai Beverage

Stocks

Delayed Singapore S.E. 06:40:09 13/11/2026 +04			5-day change	1st Jan Change
0.4250 ^SGD	-1.16%		-2.30%	-7.61%

10-20	Thai Beverage's Subsidiary Sets Up Vietnamese Unit	MT
10-19	Thai Beverage Public Co Ltd Through Its Indirect Wholly-Owned Subsidiary Interbev Limited Incorporates Vinabeco Company Limited in Vietnam	CI

Data adjusted to current consolidation scope

Fiscal Period: September	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	407,676	396,474	386,809	338,955	293,980	284,681	-	-
Change	-	-2.75%	-2.44%	-12.37%	-13.27%	-3.16%	-	-
Enterprise Value (EV) ¹	592,999	556,888	550,339	525,552	477,513	447,956	434,676	424,760
Change	-	-6.09%	-1.18%	-4.5%	-9.14%	-6.19%	-2.96%	-2.28%
P/E	16.6x	13.2x	14.1x	12.5x	11.6x	10.8x	9.98x	9.49x
PBR	2.38x	1.93x	1.92x	2.27x	2.08x	1.87x	1.74x	1.61x
PEG	-	0.6x	-1.54x	-13.62x	-1.79x	2.65x	1.25x	1.84x
Capitalization / Revenue	1.69x	1.46x	1.39x	1x	0.88x	0.85x	0.82x	0.79x
EV / Revenue	2.47x	2.04x	1.97x	1.54x	1.43x	1.33x	1.25x	1.18x
EV / EBITDA	14.3x	12x	12.5x	9.37x	8.82x	8.15x	7.7x	7.27x
EV / EBIT	17.6x	14.4x	15.2x	11.5x	10.9x	10x	9.49x	8.84x
EV / FCF	20.7x	13.4x	20.2x	18.1x	14.5x	10.1x	11.3x	10.5x
FCF Yield	4.84%	7.48%	4.96%	5.54%	6.92%	9.92%	8.85%	9.53%
Dividend per Share ²	0.5	0.6	0.6	0.62	0.62	0.618	0.6469	0.6737
Rate of return	3.08%	3.8%	3.9%	4.6%	5.3%	5.46%	5.71%	5.95%
EPS ²	0.98	1.2	1.09	1.08	1.01	1.051	1.135	1.194
Distribution rate	51%	50%	55%	57.4%	61.4%	58.8%	57%	56.4%
Net sales ¹	240,543	272,359	279,085	340,289	333,286	335,637	348,706	360,528
EBITDA ¹	41,613	46,344	43,971	56,074	54,157	54,990	56,456	58,464
EBIT ¹	33,782	38,583	36,229	45,874	43,811	44,616	45,804	48,067
Net income ¹	24,645	30,106	27,434	27,216	25,361	26,925	28,872	30,378
Net Debt ¹	185,323	160,414	163,530	186,597	183,534	163,275	149,994	140,079
Reference price ²	16.23	15.78	15.40	13.49	11.70	11.33	11.33	11.33
Nbr of stocks (in thousands)	25,118,755	25,120,888	25,124,754	25,127,675	25,130,487	25,131,686	-	-
Announcement Date	26/11/21	25/11/22	22/11/23	21/11/24	25/11/25	-	-	-

¹THB in Million²THB

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
THAI BEVERAGE	10.88x	1.34x	8.2x	5.4%	8.51B
KWEICHOW MOUTAI CO., LTD.	20.98x	8.96x	13.55x	3.7%	263B
DIAGEO PLC	15.33x	3.82x	11.29x	2.22%	55.44B
WULIANGYE YIBIN CO.,LTD.	22.04x	3.85x	10.59x	6.95%	42.09B
SHANXI XINGHUACUN FEN WINE FACTORY CO.,LTD.	16.51x	4.3x	11.11x	4.02%	22.67B
PERNOD RICARD	13.27x	3.02x	10x	6.6%	19.89B
LUZHOU LAOJIAO CO.,LTD	17.9x	5.4x	10.91x	4.95%	16.97B
BROWN-FORMAN CORPORATION	17.83x	4.05x	13.73x	3.16%	13.96B
UNITED SPIRITS LIMITED	54.3x	6.93x	37.13x	1.02%	10.67B
DAVIDE CAMPARI-MILANO N.V.	25.56x	3.26x	13.17x	1.55%	9.15B
Average	21.46x	4.49x	13.97x	3.96%	46B
Weighted average by Cap.	20.32x	6.82x	13.08x	3.92%