Financials GFPT

Equities

GFPT

TH0297010Z02

Food Processing

End-of-day quote Thailand S.E. Other stock markets 18:00:00 2024-05-12 EDT			5-day change	1st Jan Change
13.1 ^THB	+0.77%		+0.77%	+13.91%

02-20	GFPT Public Company Limited Announces Executive Changes, Effective 20 February 2024	CI
02-20	GFPT Public Company Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	15,422	17,804	16,049	16,049	14,419	16,425	-	-
Enterprise Value (EV) ¹	17,759	20,393	19,417	19,402	14,419	18,594	17,852	17,127
P/E ratio	12.9 x	13.1 x	75.3 x	7.85 x	10.5 x	10.7 x	9.84 x	9.17 x
Yield	1.63%	1.41%	0.78%	-	-	1.95%	2.17%	2.84%
Capitalization / Revenue	0.91 x	1.23 x	1.16 x	0.88 x	0.76 x	0.84 x	0.78 x	0.73 x
EV / Revenue	1.05 x	1.41 x	1.41 x	1.06 x	0.76 x	0.95 x	0.85 x	0.76 x
EV / EBITDA	7.61 x	9.65 x	20 x	7.37 x	6.47 x	6.56 x	5.93 x	5.56 x
EV / FCF	171 x	42.3 x	-24.2 x	54.2 x	-	15.1 x	14.4 x	10.1 x
FCF Yield	0.58%	2.36%	-4.13%	1.84%	-	6.61%	6.94%	9.87%
Price to Book	1.14 x	1.22 x	1.1 x	0.97 x	-	0.87 x	0.81 x	0.75 x
Nbr of stocks (in thousands)	1,253,821	1,253,821	1,253,821	1,253,821	1,253,821	1,253,821	-	-
Reference price ²	12.30	14.20	12.80	12.80	11.50	13.10	13.10	13.10
Announcement Date	20-02-25	21-02-23	22-02-22	23-02-21	24-02-20	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	16,864	14,471	13,781	18,222	18,963	19,639	20,981	22,469
EBITDA ¹	2,333	2,113	968.8	2,631	2,229	2,833	3,012	3,079
EBIT ¹	1,014	786.1	-265	1,309	717.9	1,200	1,260	1,378
Operating Margin	6.01%	5.43%	-1.92%	7.18%	3.79%	6.11%	6%	6.13%
Earnings before Tax (EBT) ¹	1,461	1,561	232.6	2,256	1,575	1,759	1,850	2,007
Net income ¹	1,195	1,352	209.3	2,044	1,377	1,557	1,663	1,786
Net margin	7.09%	9.34%	1.52%	11.22%	7.26%	7.93%	7.93%	7.95%
EPS ²	0.9500	1.080	0.1700	1.630	1.100	1.224	1.332	1.428
Free Cash Flow ¹	103.9	481.7	-801.9	357.9	-	1,230	1,238	1,690
FCF margin	0.62%	3.33%	-5.82%	1.96%	-	6.26%	5.9%	7.52%
FCF Conversion (EBITDA)	4.45%	22.8%	-	13.6%	-	43.4%	41.12%	54.9%
FCF Conversion (Net income)	8.69%	35.64%	-	17.51%	-	78.95%	74.45%	94.66%
Dividend per Share ²	0.2000	0.2000	0.1000	-	-	0.2558	0.2847	0.3720
Announcement Date	20-02-25	21-02-23	22-02-22	23-02-21	24-02-20	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 S1	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2
Net sales ¹	7,003	7,004	3,264	3,512	4,009	4,219	8,227	5,051	4,944	4,542	4,853	9,395	4,771	4,797	4,527	4,877
EBITDA ¹	1,187	649.6	123.6	194.7	504.8	646.8	1,152	870.3	608.5	459.4	575.4	1,035	595.1	598.9	579.7	-
EBIT ¹	529.1	19.25	-177	-108.1	183.6	311.2	-	534	279.8	106.4	194.3	-	199.4	218	199.1	-
Operating Margin	7.56%	0.27%	-5.42%	-3.08%	4.58%	7.38%	-	10.57%	5.66%	2.34%	4%	-	4.18%	4.54%	4.4%	-
Earnings before Tax (EBT) ¹	-	282.6	-104.2	54.29	493.4	500.6	994	749.9	512.1	332.4	393.1	725.5	374	475.9	519.2	-
Net income ¹	547.6	242.4	-87.29	54.2	455.7	453.7	909.4	683.4	451.7	298.2	348.9	647.1	319	410.4	465.9	443
Net margin	7.82%	3.46%	-2.67%	1.54%	11.37%	10.75%	11.05%	13.53%	9.14%	6.57%	7.19%	6.89%	6.69%	8.56%	10.29%	9.08%
EPS ²	0.4400	0.2000	-0.0700	0.0500	0.3600	0.3700	0.7300	0.5500	0.3600	0.2400	0.2800	0.5200	0.2500	0.3300	0.3700	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	20-08-11	21-08-10	21-11-11	22-02-22	22-05-12	22-08-11	22-08-11	22-11-10	23-02-21	23-05-11	23-08-10	23-08-10	23-11-09	24-02-20	24-05-09	-

¹THB in Million²THB

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	2,337	2,589	3,368	3,353	-	2,169	1,427	702
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.002 x	1.225 x	3.476 x	1.274 x	-	0.7654 x	0.474 x	0.228 x
Free Cash Flow ¹	104	482	-802	358	-	1,230	1,238	1,690
ROE (net income / shareholders' equity)	9.17%	9.63%	1.44%	13.2%	-	8.5%	8.41%	8.51%
ROA (Net income/ Total Assets)	6.47%	6.89%	1.01%	9.16%	-	6.14%	6.38%	6.56%
Assets ¹	18,475	19,615	20,818	22,319	-	25,386	26,078	27,221
Book Value Per Share ²	10.80	11.60	11.60	13.10	-	15.10	16.20	17.50
Cash Flow per Share ²	1.610	-	-	-	-	2.050	2.200	2.310
Capex ¹	1,910	2,214	1,843	1,858	-	1,283	1,278	1,364
Capex / Sales	11.33%	15.3%	13.37%	10.2%	-	6.53%	6.09%	6.07%
Announcement Date	20-02-25	21-02-23	22-02-22	23-02-21	24-02-20	-	-	-

¹THB in Million²THB

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for GFPT

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.1 THB

Average target price

14.55 THB

Spread / Average Target

+11.07%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Food Processing

	1st Jan change	Capi.
GFPT	+13.91%	446M
NESTLÉ S.A.	-2.51%	274B
MONDELEZ INTERNATIONAL, INC.	-0.93%	96.26B
KRAFT HEINZ	-1.33%	44.31B
THE HERSHEY COMPANY	+12.37%	42.37B
DANONE	+1.06%	41.57B
GENERAL MILLS, INC.	+8.44%	39.88B
ARCHER-DANIELS-MIDLAND COMPANY	-13.28%	30.97B
NESTLÉ INDIA LIMITED	-6.54%	29.04B
ASSOCIATED BRITISH FOODS PLC	+15.00%	25.19B

Other Food Processing