Company Valuation: Thai Wah

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2024 2025 2026 2027 2028
Market Cap 1 4,886 4,578 2,342 2,553 2,553 - -
Change - -6.31% - 9.02% 0% - -
Enterprise Value (EV) 1 4,886 4,578 2,342 2,885 2,686 2,335 2,019
Change - -6.31% - 23.17% -6.87% -13.07% -13.53%
P/E 15x 15.3x -33.3x 16.1x 11.6x 8.79x 7.63x
PBR 0.95x - - 0.53x 0.51x 0.49x 0.48x
PEG - -1.89x - -0x 0.3x 0.3x 0.5x
Capitalization / Revenue 0.54x 0.44x - 0.28x 0.23x 0.24x 0.23x
EV / Revenue 0.54x 0.44x - 0.31x 0.24x 0.22x 0.19x
EV / EBITDA 5.04x 4.97x - 4.03x 3.8x 2.88x 2.32x
EV / EBIT - - - 11.5x 10.6x 6.73x 5.07x
EV / FCF - - - 5.05x -6.62x -8.52x -5.53x
FCF Yield - - - 19.8% -15.1% -11.7% -18.1%
Dividend per Share 2 0.2159 - - 0.057 0.08 0.11 0.13
Rate of return 3.89% - - 1.97% 2.76% 3.79% 4.48%
EPS 2 0.37 0.34 -0.08 0.18 0.25 0.33 0.38
Distribution rate 58.4% - - 31.7% 32% 33.3% 34.2%
Net sales 1 9,105 10,421 - 9,206 11,220 10,515 10,866
EBITDA 1 969.5 920.4 - 715.4 707 810 872
EBIT 1 - - - 251.2 254 347 398
Net income 1 323 298.2 -71.41 155.9 219 289 331
Net Debt 1 - - - 331.3 133 -218 -534
Reference price 2 5.550 5.200 2.660 2.900 2.900 2.900 2.900
Nbr of stocks (in thousands) 880,421 880,421 880,421 880,421 880,421 - -
Announcement Date 22/02/22 21/02/23 17/02/25 24/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.6x0.24x3.8x2.76% 76.99M
17.4x2.07x9.33x2.96% 10.26B
18.47x2.43x13.67x2.68% 6.62B
15.87x1.37x10.62x2.57% 6.31B
10.33x2.69x6.56x5.44% 4.08B
12.27x1.78x6.08x6.18% 2.35B
7.13x2.35x5.96x11.62% 1.71B
108.13x7x31.06x1.09% 1.36B
Average 25.15x 2.49x 10.89x 4.41% 4.1B
Weighted average by Cap. 19.30x 2.28x 10.59x 3.74%

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