Financials 2S Metal

Equities

2S

TH1008B10Y03

Iron & Steel

End-of-day quote Thailand S.E. 18:00:00 2024-05-12 EDT 5-day change 1st Jan Change
3.06 THB 0.00% Intraday chart for 2S Metal +0.66% +0.66%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,035 900 1,890 2,725 1,672 1,672
Enterprise Value (EV) 1 1,422 1,050 1,943 2,378 1,231 1,338
P/E ratio 9.81 x 6.75 x 4.61 x 3.69 x -13.7 x 10.4 x
Yield 6.08% 7% 5.95% 8.62% 6.58% 7.24%
Capitalization / Revenue 0.19 x 0.17 x 0.34 x 0.42 x 0.25 x 0.25 x
EV / Revenue 0.26 x 0.19 x 0.35 x 0.36 x 0.18 x 0.2 x
EV / EBITDA 8.32 x 5.12 x 3.64 x 2.48 x -12.4 x 6.62 x
EV / FCF 18.3 x 4.28 x 18 x 6.28 x 4.69 x -95.9 x
FCF Yield 5.47% 23.4% 5.55% 15.9% 21.3% -1.04%
Price to Book 0.79 x 0.65 x 1.08 x 1.2 x 0.83 x 0.83 x
Nbr of stocks (in thousands) 549,999 549,999 549,999 549,998 549,996 549,996
Reference price 2 1.882 1.636 3.436 4.955 3.040 3.040
Announcement Date 2/27/19 2/26/20 2/25/21 2/25/22 2/21/23 2/22/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 5,450 5,396 5,603 6,521 6,709 6,775
EBITDA 1 170.9 205.2 534.1 960 -99.4 202.1
EBIT 1 132.3 162.5 489.9 913.8 -147.2 149.5
Operating Margin 2.43% 3.01% 8.74% 14.01% -2.19% 2.21%
Earnings before Tax (EBT) 1 129.3 158.5 484 924.7 -123.7 166.1
Net income 1 105.5 133.4 410.2 737.5 -122.2 160.1
Net margin 1.94% 2.47% 7.32% 11.31% -1.82% 2.36%
EPS 2 0.1919 0.2425 0.7458 1.341 -0.2221 0.2911
Free Cash Flow 1 77.72 245.3 107.8 378.5 262.3 -13.95
FCF margin 1.43% 4.55% 1.92% 5.8% 3.91% -0.21%
FCF Conversion (EBITDA) 45.47% 119.53% 20.18% 39.43% - -
FCF Conversion (Net income) 73.63% 183.89% 26.28% 51.32% - -
Dividend per Share 2 0.1145 0.1145 0.2045 0.4273 0.2000 0.2200
Announcement Date 2/27/19 2/26/20 2/25/21 2/25/22 2/21/23 2/22/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 387 150 52.6 - - -
Net Cash position 1 - - - 347 441 334
Leverage (Debt/EBITDA) 2.264 x 0.7329 x 0.0985 x - - -
Free Cash Flow 1 77.7 245 108 379 262 -13.9
ROE (net income / shareholders' equity) 8.12% 9.9% 26.2% 36.6% -5.73% 7.94%
ROA (Net income/ Total Assets) 4.37% 5.6% 15.4% 24.5% -3.88% 4.18%
Assets 1 2,417 2,380 2,660 3,010 3,150 3,826
Book Value Per Share 2 2.390 2.510 3.200 4.140 3.670 3.660
Cash Flow per Share 2 0.1200 0.2400 0.2400 0.6400 1.080 0.6200
Capex 1 85.9 48.6 97.1 34 93.5 40.7
Capex / Sales 1.58% 0.9% 1.73% 0.52% 1.39% 0.6%
Announcement Date 2/27/19 2/26/20 2/25/21 2/25/22 2/21/23 2/22/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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