Company Valuation: AAPICO Hitech

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 9,581 10,557 9,936 5,478 4,235 5,075 - -
Change - 10.19% -5.88% -44.86% -22.7% 19.84% - -
Enterprise Value (EV) 1 17,048 13,807 13,200 9,150 7,917 9,034 8,764 6,767
Change - -19.02% -4.39% -30.68% -13.47% 14.1% -2.99% -22.78%
P/E 9.34x 5.79x 6.17x 7.58x 5.78x 6.1x 5.69x 5.28x
PBR 1.13x 1.1x 0.92x 0.55x 0.39x 0.45x 0.42x 0.42x
PEG - 0.1x -0.5x -0.1x 4.14x 0.4x 0.8x 0.68x
Capitalization / Revenue 0.47x 0.38x 0.33x 0.21x 0.16x 0.2x 0.19x 0.19x
EV / Revenue 0.83x 0.49x 0.44x 0.34x 0.31x 0.35x 0.33x 0.25x
EV / EBITDA 10x 5.16x 4.41x 4.97x 3.72x 4.09x 3.7x 2.95x
EV / EBIT 25.5x 9.06x 7.62x 16.9x 15.1x 12.3x 10.5x 7.37x
EV / FCF 8.65x 12.7x 10.8x 22.3x 20.1x 12.4x 8.87x 4.91x
FCF Yield 11.6% 7.89% 9.27% 4.48% 4.98% 8.06% 11.3% 20.4%
Dividend per Share 2 0.94 1.54 1.65 0.78 0.79 0.9 1.013 1.09
Rate of return 3.48% 5.18% 5.89% 4.79% 6.27% 5.96% 6.71% 7.22%
EPS 2 2.89 5.14 4.54 2.15 2.18 2.477 2.653 2.86
Distribution rate 32.5% 30% 36.3% 36.3% 36.2% 36.3% 38.2% 38.1%
Net sales 1 20,433 27,967 30,034 26,588 25,780 25,653 26,360 27,386
EBITDA 1 1,699 2,678 2,994 1,840 2,126 2,211 2,371 2,291
EBIT 1 668.5 1,524 1,731 541.3 524 737.1 831.1 917.8
Net income 1 1,024 1,824 1,610 747 731.4 862 923.7 985.4
Net Debt 1 7,468 3,250 3,264 3,672 3,683 3,959 3,689 1,692
Reference price 2 27.00 29.75 28.00 16.30 12.60 15.10 15.10 15.10
Nbr of stocks (in thousands) 354,842 354,842 354,842 336,087 336,087 336,087 - -
Announcement Date 2/28/22 2/28/23 2/29/24 2/28/25 2/28/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.47x2.02x11.1x1.58% 72.73B
21.2x1.45x11.14x1.75% 48.5B
14.63x0.65x4.72x3.95% 32.28B
11.55x0.55x4.79x4.06% 28.74B
8.26x0.49x6.27x1.83% 25.18B
14.38x2.6x8.93x4.24% 20.19B
19.86x0.87x10.48x3.33% 17.54B
29.23x1.16x12.24x0.63% 17.25B
10.36x0.49x4.76x3.07% 17.14B
Average 16.44x 1.14x 8.27x 2.72% 31.06B
Weighted average by Cap. 16.83x 1.30x 8.77x 2.5%

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