Valuation AP (Thailand)

Stocks

End-of-day quote Thailand S.E. 2026-08-28			5-day change	1st Jan Change
8.150 ^THB	-1.21%		-0.61%	-5.23%

08-13	AP Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
07-30	KGI Securities Upgrades AP Thailand to Outperform from Neutral; Price Target is THB9.40	MT

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	30,043	36,492	35,549	25,482	27,055	25,639	-	-
Change	-	21.47%	-2.59%	-28.32%	6.17%	-5.23%	-	-
Enterprise Value (EV) ¹	48,921	57,612	67,592	55,277	49,917	55,575	54,872	50,813
Change	-	17.77%	17.32%	-18.22%	-9.7%	11.34%	-1.27%	-7.4%
P/E	6.63x	6.2x	5.89x	5.06x	6.28x	5.65x	5.2x	4.88x
PBR	0.93x	0.99x	0.87x	0.58x	0.59x	0.52x	0.49x	0.46x
PEG	-	0.2x	2.2x	-0.3x	-0.4x	1.08x	0.6x	0.74x
Capitalization / Revenue	0.94x	0.95x	0.93x	0.69x	0.72x	0.65x	0.62x	0.61x
EV / Revenue	1.54x	1.49x	1.78x	1.49x	1.34x	1.4x	1.33x	1.21x
EV / EBITDA	10.3x	9.44x	10.4x	9.68x	9.19x	10x	9.51x	7.92x
EV / EBIT	10.5x	9.92x	10.9x	10.2x	9.6x	10.7x	10.1x	8.63x
EV / FCF	25.5x	-28.4x	-6.2x	21.8x	27.9x	17x	15.6x	15.3x
FCF Yield	3.92%	-3.53%	-16.1%	4.59%	3.58%	5.89%	6.42%	6.52%
Dividend per Share ²	0.5	0.65	0.7	0.6	0.52	0.5354	0.5986	0.6399
Rate of return	5.24%	5.6%	6.19%	7.41%	6.05%	6.57%	7.34%	7.85%
EPS ²	1.44	1.87	1.92	1.6	1.37	1.442	1.567	1.671
Distribution rate	34.7%	34.8%	36.5%	37.5%	38%	37.1%	38.2%	38.3%
Net sales ¹	31,794	38,539	38,045	36,988	37,345	39,595	41,116	42,113
EBITDA ¹	4,760	6,101	6,500	5,712	5,433	5,530	5,768	6,418
EBIT ¹	4,668	5,810	6,210	5,437	5,197	5,199	5,434	5,891
Net income ¹	4,543	5,877	6,054	5,020	4,317	4,521	4,944	5,279
Net Debt ¹	18,877	21,120	32,043	29,795	22,862	29,936	29,233	25,174
Reference price ²	9.550	11.600	11.300	8.100	8.600	8.150	8.150	8.150
Nbr of stocks (in thousands)	3,145,899	3,145,899	3,145,899	3,145,899	3,145,899	3,145,899	-	-
Announcement Date	2/22/22	2/21/23	2/20/24	2/27/25	2/27/26	-	-	-

¹THB in Million²THB

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
AP (THAILAND)	5.65x	1.4x	10.05x	6.57%	775M
VINGROUP	62.84x	-	-	-	67.89B
VINHOMES	9.96x	3.8x	8.73x	-.--%	23.01B
VONOVIA SE	7.8x	16.09x	19.1x	6.46%	19.54B
EMAAR DEVELOPMENT	4.07x	0.07x	0.12x	7.84%	13.9B
DEUTSCHE WOHNEN SE	8.31x	16.8x	-	6.36%	8.29B
OPEN HOUSE GROUP CO., LTD.	7.42x	0.78x	6.58x	2.71%	5.49B
CHINA VANKE CO., LTD.	-1.92x	1.64x	-252.54x	-.--%	5.27B
LEG IMMOBILIEN SE	4.77x	13.57x	19.68x	6.01%	4.4B
IIDA GROUP HOLDINGS CO., LTD.	9.27x	0.57x	7.26x	4.07%	4.06B
Average	11.82x	6.08x	-22.63x	4.45%	15.26B
Weighted average by Cap.	31.89x	7.30x	-7.78x	4.14%