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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 10.59M
14.11x1.55x8.21x0.87% 58.6B
15.59x0.91x7.37x0.89% 53.18B
15.24x1.63x9.72x0.84% 36.01B
49.74x8.32x30.71x0.15% 25.82B
13.3x1.2x7.13x2.26% 24.82B
12.37x0.71x6.6x3.71% 21.3B
12.6x0.54x5.21x3.17% 16.44B
16.17x4.69x11.61x0.05% 12.05B
13.59x0.89x6.76x2.9% 10.46B
Average 18.08x 2.27x 10.37x 1.65% 25.87B
Weighted average by Cap. 17.89x 2.06x 10.16x 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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