Company Valuation: Ditto (Thailand)

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025
Market Cap 1 11,990 31,419 18,004 9,854 7,564
Change - 162.05% -42.7% -45.27% -23.24%
Enterprise Value (EV) 1 11,638 30,746 17,369 9,566 7,160
Change - 164.19% -43.51% -44.93% -25.15%
P/E 56.2x 130x 52.7x 21.4x 12.6x
PBR 11.6x 24.8x 7.31x 2.77x 1.99x
PEG 1.4x 10x 1.5x 0.7x 0.4x
Capitalization / Revenue 11x 25.4x 9.91x 4.05x 2.39x
EV / Revenue 10.7x 24.9x 9.56x 3.93x 2.26x
EV / EBITDA 46.3x 92.8x 39.5x 18x 10.4x
EV / EBIT 57.1x 105x 43.2x 19.2x 11x
EV / FCF 176x 110x -599x -34.5x 22.4x
FCF Yield 0.57% 0.91% -0.17% -2.9% 4.47%
Dividend per Share 2 0.0077 0.0093 0.25 0.25 0.5
Rate of return 0.04% 0.02% 0.92% 1.76% 4.59%
EPS 2 0.3365 0.3804 0.517 0.665 0.8636
Distribution rate 2.29% 2.44% 48.4% 37.6% 57.9%
Net sales 1 1,091 1,237 1,817 2,432 3,169
EBITDA 1 251.6 331.2 439.5 531.6 688.5
EBIT 1 203.9 291.7 402.2 497.9 651.6
Net income 1 200.7 234.7 335.1 458.3 599.2
Net Debt 1 -352.1 -673.5 -635.7 -287.8 -403.9
Reference price 2 18.92 49.58 27.25 14.20 10.90
Nbr of stocks (in thousands) 633,600 633,667 660,714 693,914 693,914
Announcement Date 2/28/22 2/27/23 2/27/24 2/26/25 2/26/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.41x4.28x14.93x2.48% 255B
-87.2x13.76x79.66x-.--% 86.29B
13.44x2.45x9.03x6.15% 80.34B
9.58x1.05x5.51x5.03% 78.93B
18.71x4.89x12.09x3.06% 55.03B
13.5x1.97x8.24x5.76% 44.67B
12.69x1.45x9.94x1.27% 34.33B
14.99x1.91x8.86x5.76% 31.57B
17.59x1.28x8.2x1.12% 31.14B
Average 4.41x 3.67x 17.38x 3.4% 77.51B
Weighted average by Cap. 5.94x 4.39x 19.72x 3.17%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA