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 5,109 - -
Change - 10.19% -5.88% -44.86% -22.7% 20.63% - -
Enterprise Value (EV) 1 17,048 13,807 13,200 9,150 7,917 9,974 10,101 6,737
Change - -19.02% -4.39% -30.68% -13.47% 25.97% 1.27% -33.3%
P/E 9.34x 5.79x 6.17x 7.58x 5.78x 6.35x 5.82x 5.42x
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 0.64x 0.64x 0.74x
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 0.39x 0.38x 0.25x
EV / EBITDA 10x 5.16x 4.41x 4.97x 3.72x 4.56x 4.3x 2.99x
EV / EBIT 25.5x 9.06x 7.62x 16.9x 15.1x 16.6x 14.7x 7.64x
EV / FCF 8.65x 12.7x 10.8x 22.3x 20.1x 14.3x 10.5x 5.01x
FCF Yield 11.6% 7.89% 9.27% 4.48% 4.98% 7.01% 9.57% 20%
Dividend per Share 2 0.94 1.54 1.65 0.78 0.79 0.89 0.9967 1.07
Rate of return 3.48% 5.18% 5.89% 4.79% 6.27% 5.86% 6.56% 7.04%
EPS 2 2.89 5.14 4.54 2.15 2.18 2.395 2.613 2.805
Distribution rate 32.5% 30% 36.3% 36.3% 36.2% 37.2% 38.1% 38.1%
Net sales 1 20,433 27,967 30,034 26,588 25,780 25,785 26,400 27,453
EBITDA 1 1,699 2,678 2,994 1,840 2,126 2,188 2,347 2,255
EBIT 1 668.5 1,524 1,731 541.3 524 600.7 687 882
Net income 1 1,024 1,824 1,610 747 731.4 850 910.3 967.5
Net Debt 1 7,468 3,250 3,264 3,672 3,683 4,865 4,992 1,628
Reference price 2 27.00 29.75 28.00 16.30 12.60 15.20 15.20 15.20
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
6.35x0.39x4.56x5.86% 155M
18.66x1.27x9.83x1.99% 42.64B
16.3x0.72x5.24x3.52% 34.75B
12.16x0.58x5.04x3.83% 30.79B
8.99x0.54x6.89x1.66% 27.71B
15.28x2.78x9.56x3.97% 21.46B
10.81x0.51x5.04x2.87% 18.29B
29.79x1.18x12.46x0.62% 17.9B
13.64x1.39x7.18x4.03% 16.63B
45.99x5.03x35.13x0.79% 14.62B
Average 17.80x 1.44x 10.09x 2.91% 22.5B
Weighted average by Cap. 17.54x 1.33x 9.34x 2.66%

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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