Company Valuation: Kaset Thai International Sugar Corporation

Data adjusted to current consolidation scope
Fiscal Period: September 2020 2021 2022 2023 2024 2025
Market Cap 1 9,341 19,879 17,370 14,977 11,580 7,952
Change - 112.81% -12.62% -13.78% -22.68% -31.33%
Enterprise Value (EV) 1 13,696 24,687 22,918 18,520 16,815 14,506
Change - 80.25% -7.16% -19.19% -9.21% -13.73%
P/E 16.4x -17.8x -20.2x 7.72x -16.8x -6.26x
PBR 1.12x 2.77x 2.91x 1.9x 1.71x 1.5x
PEG - 0x 0.9x -0x 0x -0.1x
Capitalization / Revenue 0.67x 1.91x 1.28x 0.79x 0.8x 0.53x
EV / Revenue 0.98x 2.37x 1.69x 0.98x 1.16x 0.96x
EV / EBITDA 6.4x 27.9x 15.7x 7.7x 14.6x 25.6x
EV / EBIT 16x -83.6x 65.9x 13.8x 77.4x -45.3x
EV / FCF 3.62x 23.6x 22.8x 31.3x -12.7x -19.3x
FCF Yield 27.6% 4.24% 4.38% 3.2% -7.85% -5.18%
Dividend per Share 2 - 0.1 - 0.1 0.05 -
Rate of return - 1.94% - 2.58% 1.67% -
EPS 2 0.1473 -0.2887 -0.2233 0.5024 -0.1789 -0.329
Distribution rate - -34.6% - 19.9% -28% -
Net sales 1 13,968 10,412 13,568 18,971 14,475 15,047
EBITDA 1 2,141 885.8 1,463 2,404 1,150 566.9
EBIT 1 857.5 -295.4 348 1,339 217.3 -320.4
Net income 1 568.7 -1,114 -862 1,939 -690.4 -1,270
Net Debt 1 4,355 4,808 5,548 3,544 5,235 6,554
Reference price 2 2.420 5.150 4.500 3.880 3.000 2.060
Nbr of stocks (in thousands) 3,860,000 3,860,000 3,860,000 3,860,000 3,860,000 3,860,000
Announcement Date 11/30/20 11/29/21 11/29/22 11/29/23 11/29/24 11/28/25
1THB in Million2THB
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 218M
19.86x2.72x13.59x4.16% 233B
18.47x2.4x14.32x3.47% 75.79B
15.87x1.65x9.4x3.99% 42.32B
15.06x0.54x9.65x2.56% 39.2B
36.6x3.16x18.4x1.01% 32.27B
19.41x2.97x12.09x3.6% 32.22B
25.03x5.24x16.69x3.35% 28.39B
61.15x9.39x38.93x1.24% 26.33B
Average 26.43x 3.51x 16.63x 2.92% 56.65B
Weighted average by Cap. 22.41x 2.95x 14.74x 3.49%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Kaset Thai International Sugar Corporation

Historical PBR trend

Valuation ratios - PBR - Kaset Thai International Sugar Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Kaset Thai International Sugar Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Kaset Thai International Sugar Corporation

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