Company Valuation: Infraset

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,727 2,401 1,886 2,552 1,387 3,884 - -
Change - -35.59% -21.45% 35.34% -45.64% 180% - -
Enterprise Value (EV) 3,727 2,401 1,886 2,552 1,387 3,884 3,884 3,884
Change - -35.59% -21.45% 35.34% -45.64% 180% 0% 0%
P/E 28.8x 21.3x 16.6x 28.5x 43x 19x 16.4x 14.7x
PBR 3.86x - 1.37x 1.79x 1.01x 2.55x 2.32x 2.17x
PEG - -0.7x -2.49x -1.3x -0.7x 0x 1x 1.2x
Capitalization / Revenue 2.83x 1.83x 1.14x 1.29x 1.19x 1.12x 1.06x 1.08x
EV / Revenue 0x 0x 0x 0x 0x 1.12x 1.06x 1.08x
EV / EBITDA 0x 0x 0x 0x 0x 13.4x 11.3x 10.5x
EV / EBIT 0x 0x 0x 0x - 15.5x 12.3x -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.17 - 0.09 0.08 - 0.17 0.195 0.2
Rate of return 2.81% - 3.88% 2.55% - 3.51% 4.03% 4.13%
EPS 2 0.21 0.15 0.14 0.11 0.04 0.255 0.295 0.33
Distribution rate 81% - 64.3% 72.7% - 66.7% 66.1% 60.6%
Net sales 1 1,315 1,311 1,658 1,974 1,167 3,462 3,675 3,600
EBITDA 1 225.6 142.5 157.6 133.9 65.78 289 342.5 370
EBIT 1 214 132.7 147.1 120.4 - 250 317 -
Net income 1 170.5 105.5 109.2 88.92 35.28 206.5 236 270
Net Debt - - - - - - - -
Reference price 2 6.050 3.200 2.320 3.140 1.720 4.840 4.840 4.840
Nbr of stocks (in thousands) 616,000 750,166 812,773 812,773 806,530 802,530 - -
Announcement Date 2/18/22 2/13/23 2/13/24 2/13/25 2/11/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.98x - - 3.51% 117M
23.13x3.77x13.16x2.87% 222B
14.09x1.55x8.16x3.41% 116B
-114.74x18.24x105.52x-.--% 114B
15.17x2.77x10.47x5.42% 88.66B
20.92x5.47x13.43x2.72% 63.28B
14.99x2.19x9.28x5.2% 48.47B
22.03x1.81x11.13x1.37% 42.34B
21.31x1.62x10.27x0.87% 40.69B
18.17x2.3x11.01x4.81% 37.26B
Average 5.40x 4.41x 21.38x 3.02% 77.25B
Weighted average by Cap. -0.52x 5.20x 25.11x 2.86%

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