Company Valuation: City Steel

Data adjusted to current consolidation scope
Fiscal Period: July 2020 2021 2022 2023 2024 2025
Market Cap 1 507 678 738 594 642 432
Change - 33.73% 8.85% -19.51% 8.08% -32.71%
Enterprise Value (EV) 1 -444.1 -300.5 -302.8 -413.4 -368.4 -548.2
Change - 32.35% -0.77% -36.53% 10.9% -48.82%
P/E -126x -56x -191x -19.6x -29.6x -14x
PBR 0.38x 0.51x 0.55x 0.46x 0.5x 0.35x
PEG - -0x 2.8x -0x 1x -0.3x
Capitalization / Revenue 1.82x 3.34x 5.59x 5.69x 9.81x 6.21x
EV / Revenue -1.6x -1.48x -2.29x -3.96x -5.63x -7.88x
EV / EBITDA -11.8x -14.6x -15.2x 35.6x 41.7x 31.7x
EV / EBIT 96.6x 23.1x 97.5x 14x 15.5x 17.3x
EV / FCF -7.33x -11.5x -7.5x 43.3x -120x 146x
FCF Yield -13.6% -8.7% -13.3% 2.31% -0.83% 0.68%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.0134 -0.0404 -0.0129 -0.1012 -0.0724 -0.103
Distribution rate - - - - - -
Net sales 1 277.9 203 132 104.4 65.45 69.59
EBITDA 1 37.55 20.53 19.93 -11.62 -8.824 -17.31
EBIT 1 -4.598 -13.02 -3.106 -29.62 -23.82 -31.62
Net income 1 -4.03 -12.11 -3.856 -30.36 -21.72 -30.9
Net Debt 1 -951.1 -978.5 -1,041 -1,007 -1,010 -980.2
Reference price 2 1.690 2.260 2.460 1.980 2.140 1.440
Nbr of stocks (in thousands) 300,000 300,000 300,000 300,000 300,000 300,000
Announcement Date 9/28/20 9/27/21 9/27/22 9/29/23 9/27/24 9/26/25
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 11.79M
13.63x1.5x7.84x0.9% 56.83B
16.97x0.96x7.75x0.83% 56.53B
13.94x1.53x8.98x0.9% 33.63B
13.33x1.18x7.14x2.25% 24.32B
35.53x6.8x23.14x0.17% 23.61B
12.4x0.78x7.45x3.56% 22.12B
12.22x0.55x5.41x2.95% 18.52B
13.99x0.93x7.03x2.74% 10.82B
13.43x4.02x10.47x0.06% 10.66B
Average 16.16x 2.03x 9.47x 1.6% 25.71B
Weighted average by Cap. 16.19x 1.79x 9.18x 1.36%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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