Company Valuation: 3BB Internet Infrastructure Fund

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 82,400 64,400 50,000 41,600 50,400 52,000 52,000 -
Change - -21.84% -22.36% -16.8% 21.15% 3.17% 0% -
Enterprise Value (EV) 96,728 64,400 63,047 53,744 60,462 52,000 56,514 56,058
Change - -33.42% -2.1% -14.76% 12.5% -14% 8.68% -0.81%
P/E 9.58x 8.02x 13.7x -3.73x 9.55x 7.38x 8.51x 8.13x
PBR 0.93x 0.72x 0.59x 0.62x 0.75x 0.75x 0.79x 0.77x
PEG - -1.21x -0.3x 0x -0x 0.2x -1.84x 1.7x
Capitalization / Revenue 8.12x 6.35x 4.87x 4.41x 6.78x 6.97x 6.96x 6.93x
EV / Revenue 0x 0x 0x 0x 0x 6.99x 6.96x 6.93x
EV / EBITDA 0x 0x 0x 0x 0x 7.71x 7.76x 7.69x
EV / EBIT 0x 0x 0x 0x 0x 7.74x 7.75x 7.68x
EV / FCF - - 0x 0x 0x 8.01x 7.98x 7.86x
FCF Yield - - 18.7% 20.6% 16.9% 11.6% 12.5% 12.7%
Dividend per Share 2 0.99 0.95 0.92 0.69 - 0.5159 0.6292 0.6517
Rate of return 9.61% 11.8% 14.7% 13.3% - 7.94% 9.68% 10%
EPS 2 1.075 1.004 0.4563 -1.392 0.6599 0.8805 0.7634 0.7999
Distribution rate 92.1% 94.6% 202% -49.6% - 58.6% 82.4% 81.5%
Net sales 1 10,144 10,144 10,269 9,437 7,429 7,459 7,468 7,509
EBITDA 1 9,531 9,519 9,617 8,770 6,723 6,753 6,699 6,766
EBIT 1 9,531 9,519 9,617 8,770 6,723 6,753 6,705 6,775
Net income 1 9,101 8,030 3,650 -11,139 5,279 7,044 6,115 6,456
Net Debt 14,328 - 13,047 12,144 10,062 - 4,514 4,058
Reference price 2 10.300 8.050 6.250 5.200 6.300 6.500 6.500 6.500
Nbr of stocks (in thousands) 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 -
Announcement Date 2/11/21 2/21/22 4/3/23 4/3/24 4/4/25 4/1/26 - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.06x - - 9.33% 1.57B
15.05x3.87x7.07x4.61% 11.49B
17.13x10.18x11.3x8.66% 6.6B
9.04x9.1x9.32x8.81% 3.26B
-6.36x3.61x9.04x-.--% 2.83B
19.1x - - 1.59% 2.67B
81.38x7.18x10.19x6.22% 2.4B
18.89x6.07x7.5x4.47% 2.27B
20.84x8.44x10.01x3.71% 1.71B
5.56x4.6x5.81x4.95% 1.21B
Average 18.87x 6.63x 8.78x 5.23% 3.6B
Weighted average by Cap. 17.82x 6.37x 8.73x 5.42%

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

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  4. Valuation 3BB Internet Infrastructure Fund
-40%: Exceptional extension
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