Company Valuation: BEC World

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 28,200 20,200 9,760 7,800 3,780 3,880 - -
Change - -28.37% -51.68% -20.08% -51.54% 2.65% - -
Enterprise Value (EV) 1 26,482 18,240 8,944 5,384 280.8 1,033 3,880 3,880
Change - -31.12% -50.96% -39.8% -94.79% 268.04% 275.47% 0%
P/E 37.1x 33.7x 44.4x 78x 18.9x 22.8x 21.6x 24.3x
PBR 4.55x 3.24x 1.59x 1.28x 0.62x 0.61x 0.63x 0.62x
PEG - -1.6x -0.7x -1.4x 0x -1.5x 3.67x -2.2x
Capitalization / Revenue 4.96x 3.95x 2.1x 1.83x 0.95x 0.93x 1.04x 1.03x
EV / Revenue 4.66x 3.57x 1.92x 1.27x 0.07x 0.25x 1.04x 1.03x
EV / EBITDA 8.33x 6.66x 4.4x 3.25x 0.18x 0.64x 2.41x 2.49x
EV / EBIT 24.3x 22.1x 27x 34x 1.19x 4.87x 16.2x -
EV / FCF 7.39x 20.8x 4.69x 3.65x 0.2x 1.06x 2.54x -
FCF Yield 13.5% 4.82% 21.3% 27.4% 495% 94.2% 39.4% -
Dividend per Share 2 0.25 - 0.06 0.08 - 0.0886 0.065 0.04
Rate of return 1.77% - 1.23% 2.05% - 4.57% 3.35% 2.06%
EPS 2 0.38 0.3 0.11 0.05 0.1 0.085 0.09 0.08
Distribution rate 65.8% - 54.5% 160% - 104% 72.2% 50%
Net sales 1 5,680 5,115 4,653 4,251 3,980 4,186 3,734 3,781
EBITDA 1 3,179 2,739 2,035 1,655 1,587 1,616 1,610 1,559
EBIT 1 1,090 824.4 331.2 158.4 235.7 212 239 -
Net income 1 761.6 607 210 96.28 205.8 178.5 176.5 169
Net Debt 1 -1,718 -1,960 -815.8 -2,416 -3,499 -2,847 - -
Reference price 2 14.100 10.100 4.880 3.900 1.890 1.940 1.940 1.940
Nbr of stocks (in thousands) 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 - -
Announcement Date 2/18/22 2/24/23 2/23/24 2/21/25 2/20/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.28x2.15x9.61x1.45% 180B
43.67x6.25x26.86x-.--% 24.05B
17.66x1.83x18.7x1.75% 5.75B
45.42x - - 1.97% 4.32B
12.91x1.69x16.61x4.97% 3.73B
-6.45x2.2x7.84x-.--% 3.6B
12.28x0.88x5.74x7.07% 3.55B
15.23x0.6x4.7x1.26% 3.32B
7.91x0.71x3.18x6.31% 2.26B
Average 18.55x 2.04x 11.65x 2.75% 25.61B
Weighted average by Cap. 20.71x 2.51x 11.56x 1.48%

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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