Valuation AP (Thailand) OTC Markets

Stocks

Delayed OTC Markets			5-day change	1st Jan Change
- ^USD	-.--%		-.--%	-

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	24,853	-	-
Change	-	21.47%	-2.59%	-28.32%	6.17%	-8.14%	-	-
Enterprise Value (EV) ¹	48,921	57,612	67,592	55,277	49,917	54,688	54,024	50,333
Change	-	17.77%	17.32%	-18.22%	-9.7%	9.56%	-1.21%	-6.83%
P/E	6.63x	6.2x	5.89x	5.06x	6.28x	5.46x	5.05x	4.28x
PBR	0.93x	0.99x	0.87x	0.58x	0.59x	0.51x	0.48x	0.45x
PEG	-	0.2x	2.2x	-0.3x	-0.4x	0.97x	0.63x	0.2x
Capitalization / Revenue	0.94x	0.95x	0.93x	0.69x	0.72x	0.62x	0.6x	0.58x
EV / Revenue	1.54x	1.49x	1.78x	1.49x	1.34x	1.37x	1.31x	1.18x
EV / EBITDA	10.3x	9.44x	10.4x	9.68x	9.19x	9.94x	9.14x	7.99x
EV / EBIT	10.5x	9.92x	10.9x	10.2x	9.6x	10.8x	10x	8.67x
EV / FCF	25.5x	-28.4x	-6.2x	21.8x	27.9x	20.2x	16x	15.7x
FCF Yield	3.92%	-3.53%	-16.1%	4.59%	3.58%	4.94%	6.23%	6.36%
Dividend per Share ²	0.5	0.65	0.7	0.6	0.52	0.5505	0.6014	0.6438
Rate of return	5.24%	5.6%	6.19%	7.41%	6.05%	6.97%	7.61%	8.15%
EPS ²	1.44	1.87	1.92	1.6	1.37	1.447	1.563	1.846
Distribution rate	34.7%	34.8%	36.5%	37.5%	38%	38%	38.5%	34.9%
Net sales ¹	31,794	38,539	38,045	36,988	37,345	39,878	41,338	42,502
EBITDA ¹	4,760	6,101	6,500	5,712	5,433	5,502	5,910	6,300
EBIT ¹	4,668	5,810	6,210	5,437	5,197	5,062	5,392	5,804
Net income ¹	4,543	5,877	6,054	5,020	4,317	4,551	4,926	5,285
Net Debt ¹	18,877	21,120	32,043	29,795	22,862	29,835	29,171	25,481
Reference price ²	9.550	11.600	11.300	8.100	8.600	7.900	7.900	7.900
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 (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
VINGROUP	62.18x	-	-	-	66.41B
SUN HUNG KAI PROPERTIES LIMITED	14x	4.54x	12.22x	3.62%	39.85B
EMAAR PROPERTIES	5.74x	0.78x	1.6x	8.58%	28.06B
CHINA RESOURCES LAND LIMITED	8.28x	1.46x	8.04x	4.27%	27.68B
MITSUBISHI ESTATE CO., LTD.	17.51x	3.91x	15.72x	1.4%	27.05B
MITSUI FUDOSAN CO., LTD.	13.43x	3.04x	14.56x	2.6%	24.8B
VINHOMES	9.36x	3.54x	7.84x	-.--%	22.08B
ALPHA DHABI HOLDING	8.3x	0.92x	3.35x	2.69%	21.22B
CK ASSET HOLDINGS LIMITED	10.35x	2.03x	8.38x	4.06%	20.81B
Average	16.57x	2.53x	8.96x	3.4%	30.88B
Weighted average by Cap.	23.32x	2.67x	9.26x	3.53%