Company Valuation: Forth Smart Service

Data adjusted to current consolidation scope
Fiscal Period: December 2022 2024 2025 2026 2027
Market Cap 1 9,716 6,063 4,895 5,197 -
Change - - -19.25% 6.15% -
Enterprise Value (EV) 9,716 6,063 5,335 5,197 5,197
Change - - -12.01% -2.59% 0%
P/E 32.3x 14.1x 8.33x 7.84x 7.5x
PBR - - 2.81x - -
PEG - - 0.2x 0.6x 1.65x
Capitalization / Revenue - - 1.95x 2x 1.91x
EV / Revenue - - 0x 2x 1.91x
EV / EBITDA - - 0x 5.11x 4.83x
EV / EBIT - - - - -
EV / FCF - - - - -
FCF Yield - - - - -
Dividend per Share 2 - - 0.38 0.39 0.41
Rate of return - - 5.85% 5.65% 5.94%
EPS 2 0.4 0.57 0.78 0.88 0.92
Distribution rate - - 48.7% 44.3% 44.6%
Net sales 1 - - 2,507 2,595 2,721
EBITDA 1 - - 932.7 1,017 1,077
EBIT - - 566.3 - -
Net income 1 301.9 430.4 586.8 660 694
Net Debt - - 439.4 - -
Reference price 2 12.900 8.050 6.500 6.900 6.900
Nbr of stocks (in thousands) 753,141 753,141 753,141 753,141 -
Announcement Date 2/24/23 2/28/25 2/26/26 - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.31x14.94x21.23x0.74% 674B
48x1.78x9.97x-.--% 47.8B
10.48x1.4x7.18x1.05% 45.6B
20.49x6.23x11.89x-.--% 26.82B
10.35x2.65x6.38x-.--% 26.02B
-20.97x3.34x7.12x1.15% 23.43B
22.87x6.98x21.54x-.--% 12.35B
93.19x9.15x83.41x-.--% 11.65B
15.43x2.63x6.2x4.99% 7.6B
Average 25.46x 5.45x 19.43x 0.88% 97.26B
Weighted average by Cap. 27.81x 12.28x 19.48x 0.7%

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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