Company Valuation: A.J. Plast

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 8,272 7,612 5,588 2,882 2,135 1,121
Change - -7.98% -26.59% -48.43% -25.9% -47.49%
Enterprise Value (EV) 1 11,262 10,652 11,796 10,555 9,625 8,825
Change - -5.41% 10.74% -10.52% -8.81% -8.31%
P/E 14.2x 17.8x 189x -7.85x -2.59x -2.03x
PBR 1.77x 1.6x 1.24x 0.69x 0.49x 0.3x
PEG - -0.7x -2x 0x -0x 0.1x
Capitalization / Revenue 1.14x 0.82x 0.62x 0.38x 0.27x 0.14x
EV / Revenue 1.55x 1.14x 1.3x 1.38x 1.22x 1.13x
EV / EBITDA 13.2x 11.2x 35.3x -75.9x -43.4x 164x
EV / EBIT 19.9x 15.9x 200x -24x -16.5x -26.4x
EV / FCF 26x 28.2x -4.1x -8.39x -7.59x 15.1x
FCF Yield 3.84% 3.54% -24.4% -11.9% -13.2% 6.61%
Dividend per Share 2 0.7 0.65 0.38 - - -
Rate of return 3.72% 3.76% 2.99% - - -
EPS 2 1.328 0.9741 0.0673 -0.8341 -1.382 -0.9271
Distribution rate 52.7% 66.7% 565% - - -
Net sales 1 7,270 9,335 9,062 7,664 7,869 7,834
EBITDA 1 856 950.2 334.5 -139.1 -221.8 53.88
EBIT 1 564.7 671.4 58.9 -440 -582.8 -334.6
Net income 1 532.3 428.6 29.61 -367 -724.5 -553
Net Debt 1 2,990 3,040 6,208 7,673 7,489 7,703
Reference price 2 18.800 17.300 12.700 6.550 3.580 1.880
Nbr of stocks (in thousands) 440,000 440,000 440,000 440,000 596,498 596,498
Announcement Date 2/28/21 2/27/22 3/1/23 2/29/24 2/28/25 2/25/26
1THB in Million2THB
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.54x1.39x8.48x5.8% 20.86B
23.89x2.13x10.24x1.53% 8.1B
73.03x - - - 2.58B
14.72x1.17x7.85x2.67% 1.49B
9.55x1.5x7.88x3.67% 1.4B
10.18x - - - 1.38B
23.39x - - - 1.2B
Average 24.19x 1.54x 8.61x 3.42% 5.29B
Weighted average by Cap. 20.60x 1.57x 8.87x 4.47%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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