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 3,740 - -
Change - -28.37% -51.68% -20.08% -51.54% -1.06% - -
Enterprise Value (EV) 1 26,482 18,240 8,944 5,384 280.8 893.4 3,740 3,740
Change - -31.12% -50.96% -39.8% -94.79% 218.17% 318.64% 0%
P/E 37.1x 33.7x 44.4x 78x 18.9x 22x 20.8x 23.4x
PBR 4.55x 3.24x 1.59x 1.28x 0.62x 0.59x 0.6x 0.6x
PEG - -1.6x -0.7x -1.4x 0x -1.5x 3.54x -2.1x
Capitalization / Revenue 4.96x 3.95x 2.1x 1.83x 0.95x 0.89x 1x 0.99x
EV / Revenue 4.66x 3.57x 1.92x 1.27x 0.07x 0.21x 1x 0.99x
EV / EBITDA 8.33x 6.66x 4.4x 3.25x 0.18x 0.55x 2.32x 2.4x
EV / EBIT 24.3x 22.1x 27x 34x 1.19x 4.21x 15.6x -
EV / FCF 7.39x 20.8x 4.69x 3.65x 0.2x 0.92x 2.44x -
FCF Yield 13.5% 4.82% 21.3% 27.4% 495% 109% 40.9% -
Dividend per Share 2 0.25 - 0.06 0.08 0.1 0.0886 0.065 0.04
Rate of return 1.77% - 1.23% 2.05% 5.29% 4.74% 3.48% 2.14%
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% 100% 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 1.870 1.870 1.870
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.88x0.21x0.54x4.77% 111M
18.38x2.16x9.66x1.44% 181B
10.54x1.46x6.27x0.92% 25.02B
41.69x6x25.8x-.--% 22.96B
17.22x1.83x19.61x1.76% 5.58B
5.06x2x5.59x4.58% 4.98B
14.45x0.72x5.72x8.1% 4.95B
7.59x0.98x3.13x3.85% 4.41B
45.74x - - 1.96% 4.36B
12.06x0.99x7.4x1.62% 4.32B
Average 19.46x 1.81x 9.30x 2.9% 25.78B
Weighted average by Cap. 19.51x 2.36x 10.70x 1.51%

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