Company Valuation: Demco

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,410 2,775 4,309 1,811 2,373 2,103
Change - 15.15% 55.26% -57.97% 31.02% -11.39%
Enterprise Value (EV) 1 3,687 4,140 5,892 2,960 3,614 3,185
Change - 12.3% 42.31% -49.76% 22.1% -11.86%
P/E 43.7x 27.5x -33.7x -3.29x -36.9x 164x
PBR 0.52x 0.64x 1.06x 0.5x 0.65x 0.58x
PEG - 0.3x 0x -0x 0.4x -1x
Capitalization / Revenue 1x 1.08x 2.02x 0.84x 0.76x 0.98x
EV / Revenue 1.53x 1.62x 2.76x 1.37x 1.16x 1.49x
EV / EBITDA 200x -40.7x -42x -33.5x -43.2x 111x
EV / EBIT -105x -27.2x -31x -21.8x -30.7x -285x
EV / FCF 13x -14.2x -18.4x 13.8x -32.9x -130x
FCF Yield 7.69% -7.03% -5.44% 7.25% -3.04% -0.77%
Dividend per Share 2 - 0.03 - - - -
Rate of return - 0.79% - - - -
EPS 2 0.0756 0.1381 -0.175 -0.753 -0.0856 0.017
Distribution rate - 21.7% - - - -
Net sales 1 2,404 2,560 2,135 2,156 3,108 2,144
EBITDA 1 18.47 -101.7 -140.4 -88.28 -83.69 28.63
EBIT 1 -35.27 -152.1 -190.1 -135.8 -117.8 -11.18
Net income 1 55.2 100.9 -127.8 -549.9 -62.66 12.79
Net Debt 1 1,276 1,365 1,583 1,149 1,241 1,083
Reference price 2 3.300 3.800 5.900 2.480 3.160 2.800
Nbr of stocks (in thousands) 730,344 730,344 730,344 730,344 750,979 750,979
Announcement Date 2/25/21 2/25/22 2/27/23 2/27/24 2/28/25 2/28/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 80.81M
32.37x5.59x40.56x0.2% 265B
22.35x9.33x15.42x2.76% 186B
21.2x4.48x11.84x3.41% 158B
13.91x1.98x6.96x5.13% 115B
21.42x5.99x13.22x3.17% 108B
18.93x5.7x11.46x3.43% 99.75B
22.44x3.39x13.31x0.61% 98.17B
20.81x5.29x12.7x2.9% 72.4B
19.75x6.44x13.82x3.76% 62.52B
Average 21.46x 5.35x 15.48x 2.82% 116.46B
Weighted average by Cap. 23.03x 5.57x 18.84x 2.48%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA