Company Valuation: Indorama Ventures

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 242,829 228,793 152,997 139,802 90,394 126,889 - -
Change - -5.78% -33.13% -8.62% -35.34% 40.37% - -
Enterprise Value (EV) 1 450,600 461,362 388,646 384,702 326,544 351,881 332,125 311,373
Change - 2.39% -15.76% -1.01% -15.12% 7.76% -5.61% -6.25%
P/E Ratio 9.51x 7.56x -13.2x -6.82x -12.3x 20.4x 15.5x 14.4x
PBR 1.53x 1.23x 0.93x 1.11x 0.77x 1.03x 0.94x 0.87x
PEG - 0.4x 0x -0.1x 0.2x -0x 0.5x 1.8x
Capitalization / Revenue 0.52x 0.35x 0.28x 0.26x 0.2x 0.26x 0.25x 0.25x
EV / Revenue 0.96x 0.7x 0.72x 0.71x 0.73x 0.72x 0.66x 0.63x
EV / EBITDA 7.06x 6.17x 11.3x 9.37x 13.2x 7.55x 6.64x 6.2x
EV / EBIT 10.7x 9.41x 58.2x 29.4x -382x 16.4x 14.6x 12.6x
EV / FCF 32.6x 8.81x 13.3x 20.2x 10.8x 24.5x 15.5x 12.3x
FCF Yield 3.07% 11.3% 7.49% 4.96% 9.24% 4.08% 6.43% 8.1%
Dividend per Share 2 1 1.45 0.925 0.7 0.7 0.7 0.6889 0.6548
Rate of return 2.31% 3.56% 3.39% 2.81% 4.35% 3.1% 3.05% 2.9%
EPS 2 4.55 5.39 -2.06 -3.65 -1.309 1.108 1.456 1.573
Distribution rate 22% 26.9% -44.9% -19.2% -53.5% 63.2% 47.3% 41.6%
Net sales 1 468,108 656,266 541,458 541,583 447,246 486,520 505,431 497,938
EBITDA 1 63,825 74,772 34,373 41,078 24,681 46,617 50,011 50,185
EBIT 1 42,089 49,050 6,675 13,089 -854.8 21,441 22,727 24,804
Net income 1 26,288 31,006 -10,798 -19,262 -7,348 5,910 7,952 9,008
Net Debt 1 207,771 232,569 235,649 244,900 236,150 224,993 205,236 184,484
Reference price 2 43.25 40.75 27.25 24.90 16.10 22.60 22.60 22.60
Nbr of stocks (in thousands) 5,614,552 5,614,552 5,614,552 5,614,552 5,614,552 5,614,552 - -
Announcement Date 2/27/22 2/25/23 2/23/24 2/26/25 3/2/26 - - -
1THB in Million2THB
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.94x0.73x7.62x3.02% 3.95B
26.54x4.1x13.25x2.12% 121B
39.36x1.4x8.55x5.68% 44.19B
11.34x1.14x6.36x2.7% 31.02B
10.68x3.08x7.65x4.19% 24.64B
11.13x2.8x16.48x4.52% 24.27B
6.32x0.85x5.25x4.35% 20.49B
20.87x3.05x12.31x0.57% 20.11B
31.63x2.52x14.32x0.4% 18.51B
15.66x - - - 17.6B
Average 19.45x 2.19x 10.20x 3.06% 32.55B
Weighted average by Cap. 22.49x 2.81x 11.09x 3%

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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