Company Valuation: AQ Estate

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Market Cap 1 853.2 853.2 2,560 1,874 936.8 936.9
Change - 0% 200% -26.8% -50% 0%
Enterprise Value (EV) 1 -201.3 -205.2 2,571 1,985 1,668 1,777
Change - -1.9% 1,353.18% -22.8% -15.96% 6.53%
P/E -4.58x -2.18x -5.17x 14.1x -3.84x -0.35x
PBR 0.25x 0.28x 0.99x 0.64x 0.35x 8.69x
PEG - -0x -0.2x -0x 0x -0x
Capitalization / Revenue 1.33x 1.62x 2.47x 3.08x 0.98x 1.99x
EV / Revenue -0.31x -0.39x 2.48x 3.27x 1.75x 3.77x
EV / EBITDA 0.85x 0.59x -4.06x -11.1x -5.32x -5.51x
EV / EBIT 0.63x 0.47x -3.6x -8.08x -4.4x -4.61x
EV / FCF -2.46x -2.77x 436x - -6.23x -40.6x
FCF Yield -40.7% -36.1% 0.23% - -16.1% -2.47%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.0502 -0.1056 -0.1335 0.0325 -0.0599 -0.6526
Distribution rate - - - - - -
Net sales 1 642.2 525.7 1,035 607.8 954 470.8
EBITDA 1 -237 -348 -632.7 -179.2 -313.6 -322.2
EBIT 1 -319.9 -440.8 -713.4 -245.5 -378.9 -385.2
Net income 1 -186.3 -391.8 -495.1 128.4 -244 -2,658
Net Debt 1 -1,055 -1,058 11.25 111 731 840
Reference price 2 0.2300 0.2300 0.6900 0.4600 0.2300 0.2300
Nbr of stocks (in thousands) 3,709,774 3,709,774 3,709,774 4,073,201 4,073,201 4,073,300
Announcement Date 2/27/20 2/25/21 2/28/22 3/1/23 3/1/24 3/3/25
1THB in Million2THB
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 1.22M
13.9x4.52x12.15x3.64% 39.56B
5.75x0.78x1.61x8.56% 28.1B
18.06x3.97x15.98x1.36% 27.94B
7.79x1.41x7.78x4.54% 26.04B
13.93x3.1x14.81x2.51% 25.78B
8.14x0.9x3.28x2.75% 20.81B
10.21x2x8.25x4.11% 20.52B
13.1x6.4x16.84x1.66% 18.82B
37.84x13.87x34.9x3.14% 18.26B
Average 14.30x 4.11x 12.85x 3.59% 22.59B
Weighted average by Cap. 13.70x 3.82x 12.17x 3.7%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA