Company Valuation: TQR

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025
Market Cap 1 3,289 2,691 1,552 1,346 1,150
Change - -18.18% -42.31% -13.33% -14.53%
Enterprise Value (EV) 1 2,885 2,272 1,165 921.8 709.2
Change - -21.27% -48.74% -20.84% -23.06%
P/E Ratio 32.6x 27.4x 15.5x 13.4x 11.4x
PBR 7.18x 5.43x 3.12x 2.63x 2.2x
PEG -0.5x -10.45x 7.31x 319.35x 14.86x
Capitalization / Revenue 14.4x 11.1x 6.21x 5.2x 4.12x
EV / Revenue 12.6x 9.33x 4.66x 3.56x 2.54x
EV / EBITDA 30x 18.1x 8.75x 7.35x 5.33x
EV / EBIT 30.6x 18.4x 8.87x 7.45x 5.41x
EV / FCF -202x 38.4x 15.5x 8.12x 7.73x
FCF Yield -0.5% 2.61% 6.46% 12.3% 12.9%
Dividend per Share 2 0.318 0.39 0.4 0.4 0.4
Rate of return 2.22% 3.33% 5.93% 6.84% 8%
EPS 2 0.4386 0.4271 0.4361 0.4363 0.4397
Distribution rate 72.5% 91.3% 91.7% 91.7% 91%
Net sales 1 229.1 243.5 249.9 258.9 279
EBITDA 1 96.09 125.4 133 125.4 133
EBIT 1 94.39 123.7 131.3 123.7 131.1
Net income 1 97.48 98.23 100.3 100.4 101.1
Net Debt 1 -403.5 -419.3 -388 -423.7 -440.8
Reference price 2 14.300 11.700 6.750 5.850 5.000
Nbr of stocks (in thousands) 230,000 230,000 230,000 230,000 230,000
Announcement Date 21/02/22 21/02/23 28/02/24 21/02/25 24/02/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 37.48M
21.28x4.6x13.63x0.95% 70.38B
22.92x4.03x12.44x1.29% 55.43B
9.42x0.56x - 4.18% 30.66B
14.98x2.72x9.72x1.48% 24.35B
17.72x3.72x10.59x1.14% 20.09B
11.87x - - 7.59% 11.1B
40.55x2.33x7.71x1.45% 4.58B
18.11x3.08x9.52x4.11% 4.02B
Average 19.61x 3.01x 10.60x 2.77% 24.52B
Weighted average by Cap. 18.89x 3.48x 12.14x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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