Company Valuation: CK Power

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 40,647 37,070 26,502 26,014 19,673 19,673 - -
Change - -8.8% -28.51% -1.84% -24.37% 0% - -
Enterprise Value (EV) 1 40,647 61,674 48,257 47,682 42,038 41,212 40,740 44,071
Change - 51.73% -21.75% -1.19% -11.84% -1.96% -1.14% 8.18%
P/E 18.7x 15.2x 18.1x 18.8x 7.08x 11.8x 10.3x 8.83x
PBR 1.64x 1.4x 0.97x 0.93x 0.64x 0.63x 0.6x 0.57x
PEG - 1.3x -0.5x -3.38x 0x -0.3x 0.7x 0.5x
Capitalization / Revenue 4.62x 3.4x 2.58x 2.55x 1.95x 1.95x 1.98x 1.96x
EV / Revenue 4.62x 5.66x 4.69x 4.67x 4.16x 4.09x 4.09x 4.4x
EV / EBITDA 12.1x 18.1x 12.7x 10.7x 9.7x 12.1x 10.8x 12x
EV / EBIT 22.8x 33.5x 21.7x 16.6x 18x 15.8x 15.4x 20.4x
EV / FCF 11.2x 18.8x 11.8x 11.7x 8.79x 13.4x 12.2x 12.5x
FCF Yield 8.9% 5.31% 8.45% 8.53% 11.4% 7.47% 8.19% 8%
Dividend per Share 2 0.08 - 0.085 0.085 0.085 0.0897 0.0911 0.0916
Rate of return 1.6% - 2.61% 2.66% 3.51% 3.71% 3.77% 3.79%
EPS 2 0.268 0.3 0.18 0.17 0.342 0.205 0.2343 0.274
Distribution rate 29.9% - 47.2% 50% 24.9% 43.8% 38.9% 33.4%
Net sales 1 8,798 10,904 10,286 10,212 10,106 10,082 9,952 10,023
EBITDA 1 3,354 3,411 3,791 4,448 4,336 3,393 3,762 3,686
EBIT 1 1,783 1,839 2,223 2,879 2,336 2,606 2,654 2,163
Net income 1 2,179 2,436 1,462 1,345 2,782 1,671 1,937 2,158
Net Debt 1 - 24,604 21,756 21,668 22,365 21,538 21,067 24,398
Reference price 2 5.000 4.560 3.260 3.200 2.420 2.420 2.420 2.420
Nbr of stocks (in thousands) 8,129,383 8,129,383 8,129,383 8,129,383 8,129,383 8,129,383 - -
Announcement Date 2/21/22 2/20/23 2/20/24 2/20/25 2/23/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
31.11x5.24x38.15x0.21% 255B
20.44x8.96x15.48x2.99% 172B
19.87x4.09x11.28x3.6% 152B
12.33x1.82x6.48x5.74% 103B
22.41x3.44x13.97x0.6% 101B
19.5x5.76x12.64x3.48% 100B
17.7x5.52x11.12x3.65% 93.11B
19.17x5.11x12.34x3.12% 67.14B
17.95x6.14x12.89x4.15% 56.61B
Average 20.05x 5.12x 14.93x 3.06% 122.18B
Weighted average by Cap. 21.73x 5.29x 18.22x 2.64%

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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