Company Valuation: IFS Capital (Thailand)

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,244 1,569 1,471 1,332 1,244 1,046
Change - 26.19% -6.29% -9.4% -6.67% -15.87%
Enterprise Value (EV) 1 2,682 3,454 2,914 2,915 2,960 2,846
Change - 28.82% -15.65% 0.04% 1.54% -3.84%
P/E 9.31x 10.3x 9.37x 8.41x 9.08x 11x
PBR 0.81x 0.97x 0.87x 0.75x 0.68x 0.57x
PEG - 0.7x 3.51x 8.82x -0.7x -0.4x
Capitalization / Revenue 3.32x 4.07x 3.5x 3.09x 2.81x 2.24x
EV / Revenue 7.16x 8.96x 6.92x 6.76x 6.69x 6.08x
EV / EBITDA 11.2x 14.4x 10.9x 11.2x 12.5x 9.67x
EV / EBIT 11.7x 15x 11.3x 11.6x 13x 9.99x
EV / FCF 3.53x -8.04x 5.58x -41.4x -49x 76.2x
FCF Yield 28.3% -12.4% 17.9% -2.42% -2.04% 1.31%
Dividend per Share 2 0.14 0.158 0.1633 0.168 0.148 0.104
Rate of return 5.56% 4.97% 5.48% 6.22% 5.87% 4.91%
EPS 2 0.2708 0.3097 0.318 0.321 0.2776 0.1933
Distribution rate 51.7% 51% 51.4% 52.3% 53.3% 53.8%
Net sales 1 374.7 385.4 420.8 431.3 442.1 467.8
EBITDA 1 239.6 239.2 267.7 260.7 237.1 294.2
EBIT 1 229.6 229.7 258.4 251.9 228.2 285
Net income 1 133.6 152.8 156.9 158.4 137 95.39
Net Debt 1 1,438 1,885 1,443 1,582 1,716 1,800
Reference price 2 2.520 3.180 2.980 2.700 2.520 2.120
Nbr of stocks (in thousands) 493,500 493,500 493,500 493,500 493,500 493,500
Announcement Date 2/18/21 2/22/22 2/17/23 2/21/24 2/20/25 2/23/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 25.93M
105.25x - - -.--% 24.16B
8.31x7.23x8.36x1.12% 22.13B
1168.17x - - -.--% 12.53B
11.49x4.14x22.86x3.93% 11.93B
5.45x - - 5.58% 11.03B
11.09x - - 4.44% 10.38B
8.98x3.16x28.23x3.71% 8.1B
Average 188.39x 4.84x 19.82x 2.68% 12.54B
Weighted average by Cap. 177.03x 5.57x 16.28x 2.09%

Y-o-Y evolution of P/E

Valuation ratios - P/E - IFS Capital (Thailand)

Historical PBR trend

Valuation ratios - PBR - IFS Capital (Thailand)

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - IFS Capital (Thailand)

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - IFS Capital (Thailand)

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