Company Valuation: 2S Metal

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,890 2,725 1,672 1,672 1,518 1,287
Change - 44.18% -38.64% 0% -9.21% -15.22%
Enterprise Value (EV) 1 1,943 2,378 1,231 1,338 1,287 1,050
Change - 22.42% -48.24% 8.67% -3.8% -18.44%
P/E 4.61x 3.69x -13.7x 10.4x 64.4x 8.9x
PBR 1.08x 1.2x 0.83x 0.83x 0.78x 0.63x
PEG - 0x 0x -0x -0.8x 0x
Capitalization / Revenue 0.34x 0.42x 0.25x 0.25x 0.2x 0.17x
EV / Revenue 0.35x 0.36x 0.18x 0.2x 0.17x 0.14x
EV / EBITDA 3.64x 2.48x -12.4x 6.62x 39.2x 6.31x
EV / EBIT 3.97x 2.6x -8.36x 8.95x -53.8x 9.89x
EV / FCF 18x 6.28x 4.69x -95.9x -33.6x -978x
FCF Yield 5.55% 15.9% 21.3% -1.04% -2.97% -0.1%
Dividend per Share 2 0.2045 0.4273 0.2 0.22 0.11 0.2
Rate of return 5.95% 8.62% 6.58% 7.24% 3.99% 8.55%
EPS 2 0.7458 1.341 -0.2221 0.2911 0.0429 0.2628
Distribution rate 27.4% 31.9% -90% 75.6% 257% 76.1%
Net sales 1 5,603 6,521 6,709 6,775 7,447 7,542
EBITDA 1 534.1 960 -99.4 202.1 32.86 166.4
EBIT 1 489.9 913.8 -147.2 149.5 -23.9 106.2
Net income 1 410.2 737.5 -122.2 160.1 23.58 144.5
Net Debt 1 52.61 -346.9 -441.1 -334.4 -231.2 -237.5
Reference price 2 3.436 4.955 3.040 3.040 2.760 2.340
Nbr of stocks (in thousands) 549,999 549,998 549,996 549,996 549,996 549,996
Announcement Date 2/25/21 2/25/22 2/21/23 2/22/24 2/20/25 2/25/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 50.83M
14.15x0.85x6.79x0.96% 49.5B
13.66x1.41x7.8x1% 51B
14.07x1.57x9.23x0.93% 32.75B
59.44x9.9x36.55x0.13% 30.77B
12.74x1.21x7.05x2.2% 24.98B
8.84x0.67x5.98x4.38% 18B
13.25x0.55x5.23x3.05% 15.78B
13.98x4.16x10.8x0.06% 10.34B
12.95x0.84x6.36x2.99% 9.71B
Average 18.12x 2.35x 10.64x 1.75% 24.29B
Weighted average by Cap. 19.13x 2.36x 11.12x 1.42%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA