Company Valuation: Delta Electronics (Thailand)

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 513,921 1,035,327 1,097,696 1,902,257 2,157,970 2,906,399 - -
Change - 101.46% 6.02% 73.3% 13.44% 34.68% - -
Enterprise Value (EV) 1 509,530 1,027,126 1,093,655 1,888,012 2,139,148 2,882,655 2,867,940 2,841,150
Change - 101.58% 6.48% 72.63% 13.3% 34.76% -0.51% -0.93%
P/E 76.7x 67.5x 59.5x 100x 86.9x 83x 58.3x 47.6x
PBR 12.4x 18.9x 16.3x 23.8x 22.3x 23.6x 18x 13.6x
PEG - 1x 2.9x 37x 2.8x 2x 1.4x 2.1x
Capitalization / Revenue 6.1x 8.73x 7.5x 11.5x 10.9x 10.5x 7.99x 6.32x
EV / Revenue 6.04x 8.66x 7.47x 11.5x 10.8x 10.4x 7.89x 6.18x
EV / EBITDA 60.4x 58.1x 48.4x 76.8x 62x 59.2x 43.2x 33.7x
EV / EBIT 86x 70.9x 60.7x 106x 81.3x 71.8x 51.8x 39.4x
EV / FCF -84.9x 180x 388x 108x 148x 126x 81.8x 60.7x
FCF Yield -1.18% 0.56% 0.26% 0.93% 0.67% 0.8% 1.22% 1.65%
Dividend per Share 2 0.17 0.4 0.45 0.46 0.6 0.8907 1.348 1.855
Rate of return 0.41% 0.48% 0.51% 0.3% 0.35% 0.38% 0.58% 0.8%
EPS 2 0.537 1.231 1.48 1.52 1.99 2.808 4 4.898
Distribution rate 31.7% 32.5% 30.4% 30.3% 30.2% 31.7% 33.7% 37.9%
Net sales 1 84,318 118,558 146,371 164,733 198,153 276,317 363,590 459,545
EBITDA 1 8,431 17,683 22,616 24,598 34,520 48,683 66,393 84,371
EBIT 1 5,923 14,493 18,008 17,860 26,326 40,127 55,365 72,115
Net income 1 6,699 15,344 18,423 18,939 24,814 34,909 49,607 63,198
Net Debt 1 -4,391 -8,200 -4,041 -14,245 -18,822 -23,744 -38,459 -65,249
Reference price 2 41.20 83.00 88.00 152.50 173.00 233.00 233.00 233.00
Nbr of stocks (in thousands) 12,473,816 12,473,816 12,473,816 12,473,816 12,473,816 12,473,816 - -
Announcement Date 2/15/22 2/15/23 2/15/24 2/14/25 2/14/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
82.97x10.43x59.21x0.38% 87.29B
15.27x1.93x8.68x3.36% 221B
23.82x2.87x15.68x2.17% 229B
28.95x3.72x17.21x1.69% 179B
34.76x5.22x22x1.13% 152B
40.7x5.45x24.42x1.22% 136B
38.83x6.38x25.65x0.1% 90.32B
30.08x4.89x17.03x1.5% 82B
31.97x6.93x21.78x0.58% 53.75B
24.2x4.56x16.96x1.68% 50.65B
Average 35.15x 5.24x 22.86x 1.38% 128.13B
Weighted average by Cap. 32.00x 4.51x 20.43x 1.69%

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

  1. Stock Market
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  3. DELTA Stock
  4. Valuation Delta Electronics (Thailand)
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