Company Valuation: Golden Lime

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,188 1,290 1,194 848 978.5 920.5
Change - 8.59% -7.44% -28.98% 15.38% -5.93%
Enterprise Value (EV) 1 2,294 2,487 2,302 1,641 1,778 1,832
Change - 8.4% -7.46% -28.71% 8.37% 3.05%
P/E 5.74x 25.2x 13.4x 18x 15.8x -101x
PBR 1.95x 2.06x 1.66x 0.84x 0.97x 0.94x
PEG - -0.3x 0.2x -0.3x 0.5x 1x
Capitalization / Revenue 1.06x 1.08x 0.8x 0.59x 0.72x 0.7x
EV / Revenue 2.05x 2.09x 1.55x 1.14x 1.3x 1.39x
EV / EBITDA 11.1x 11.4x 10.3x 7.33x 7.36x 11.6x
EV / EBIT 33.8x 34.5x 26.2x 16.2x 15.2x 59.1x
EV / FCF -27.6x -38.7x 32.3x 32.4x 45.6x -221x
FCF Yield -3.62% -2.58% 3.09% 3.08% 2.19% -0.45%
Dividend per Share 2 0.28 - - 0.08 0.08 0.07
Rate of return 7.07% - - 3.42% 2.96% 2.76%
EPS 2 0.6903 0.1705 0.2974 0.13 0.1711 -0.0251
Distribution rate 40.6% - - 61.5% 46.7% -279%
Net sales 1 1,117 1,192 1,486 1,444 1,363 1,323
EBITDA 1 206.8 217.4 223.8 223.9 241.4 157.5
EBIT 1 67.92 72.04 87.8 101.2 117 31.01
Net income 1 207.1 51.16 89.21 46.12 62.02 -9.098
Net Debt 1 1,106 1,197 1,108 792.7 799.6 911.9
Reference price 2 3.960 4.300 3.980 2.340 2.700 2.540
Nbr of stocks (in thousands) 300,000 300,000 300,000 362,393 362,393 362,393
Announcement Date 2/24/21 2/28/22 2/27/23 2/27/24 2/24/25 2/28/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 33.37M
14.23x1.71x8.29x1.92% 54.35B
17.68x2.44x9.66x2.91% 42.94B
32.51x5.82x17.25x0.72% 34.03B
32.09x3.33x17.07x0.96% 32.72B
27.22x4.31x14.43x0.86% 31.61B
11.6x1.39x6.48x2.66% 28.77B
20.21x6.3x12.42x2.15% 23.3B
67.76x4.24x65.59x0.34% 20.87B
15.02x1.89x7.62x1.45% 20.04B
Average 26.48x 3.49x 17.64x 1.55% 28.87B
Weighted average by Cap. 24.49x 3.31x 15.46x 1.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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