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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 65.19M
13.47x1.49x7.75x0.91% 56.16B
16.52x0.94x7.58x0.86% 55.05B
13.72x1.5x8.85x0.92% 33.12B
13.34x1.18x7.14x2.25% 24.41B
36.25x6.94x23.61x0.17% 24.09B
12.31x0.78x7.43x3.59% 22.06B
12.02x0.55x5.35x2.99% 18.13B
13.65x4.07x10.62x0.05% 10.87B
13.62x0.9x6.83x2.81% 10.65B
Average 16.10x 2.04x 9.46x 1.62% 25.46B
Weighted average by Cap. 16.12x 1.81x 9.18x 1.38%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA