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 3,852 - -
Change - -35.59% -21.45% 35.34% -45.64% 177.69% - -
Enterprise Value (EV) 3,727 2,401 1,886 2,552 1,387 3,852 3,852 3,852
Change - -35.59% -21.45% 35.34% -45.64% 177.69% 0% 0%
P/E 28.8x 21.3x 16.6x 28.5x 43x 18.8x 16.3x 14.5x
PBR 3.86x - 1.37x 1.79x 1.01x 2.53x 2.3x 2.15x
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 1.11x 1.05x 1.07x
EV / Revenue 0x 0x 0x 0x 0x 1.11x 1.05x 1.07x
EV / EBITDA 0x 0x 0x 0x 0x 13.3x 11.2x 10.4x
EV / EBIT 0x 0x 0x 0x - 15.4x 12.2x -
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% - 3.54% 4.06% 4.17%
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 4.800 4.800 4.800
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.($)
18.82x - - 3.54% 115M
22.15x3.63x12.69x3% 212B
-131.72x18.37x101.87x-.--% 118B
13.08x1.46x7.67x3.67% 108B
13.48x2.45x9.24x6.1% 78.59B
19.72x5.2x12.78x2.88% 58.2B
22.67x1.87x11.67x1.29% 44.4B
13.12x1.89x8x5.94% 42.26B
20.9x1.59x10.12x0.89% 40.58B
17.14x2.21x10.28x5.04% 35.52B
Average 2.94x 4.30x 20.48x 3.24% 73.83B
Weighted average by Cap. -5.76x 5.29x 25.32x 2.98%

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