Financials Lalin Property

Equities

LALIN

TH0693010Z02

Real Estate Development & Operations

End-of-day quote Thailand S.E. 18:00:00 2024-06-06 EDT 5-day change 1st Jan Change
7 THB -1.41% Intraday chart for Lalin Property -3.45% -12.50%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 4,458 4,764 6,799 8,602 8,417 7,400
Enterprise Value (EV) 1 7,604 8,128 10,131 11,676 11,327 12,306
P/E ratio 5.74 x 5.34 x 5.1 x 6.19 x 6.62 x 8.87 x
Yield 7.05% 7.48% 7.48% 6.77% 7.03% 6.5%
Capitalization / Revenue 1.09 x 1.03 x 1.18 x 1.31 x 1.35 x 1.55 x
EV / Revenue 1.86 x 1.76 x 1.76 x 1.78 x 1.82 x 2.58 x
EV / EBITDA 7.31 x 6.91 x 6.47 x 6.55 x 6.97 x 11.3 x
EV / FCF 13.7 x -15.3 x 9.13 x 10.3 x 27.2 x -8.44 x
FCF Yield 7.32% -6.54% 10.9% 9.72% 3.68% -11.8%
Price to Book 0.74 x 0.73 x 0.91 x 1.04 x 0.94 x 0.8 x
Nbr of stocks (in thousands) 924,999 924,999 924,999 924,999 924,999 924,999
Reference price 2 4.820 5.150 7.350 9.300 9.100 8.000
Announcement Date 2/28/19 2/27/20 2/25/21 2/27/22 2/27/23 2/29/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 4,082 4,623 5,749 6,573 6,220 4,773
EBITDA 1 1,040 1,177 1,565 1,781 1,626 1,084
EBIT 1 978.5 1,126 1,514 1,734 1,584 1,038
Operating Margin 23.97% 24.35% 26.33% 26.38% 25.46% 21.75%
Earnings before Tax (EBT) 1 972.4 1,122 1,669 1,737 1,591 1,044
Net income 1 777.1 891.5 1,333 1,389 1,271 834.3
Net margin 19.04% 19.28% 23.19% 21.14% 20.44% 17.48%
EPS 2 0.8402 0.9638 1.441 1.502 1.375 0.9020
Free Cash Flow 1 556.9 -531.8 1,109 1,135 417.1 -1,458
FCF margin 13.64% -11.5% 19.29% 17.26% 6.7% -30.55%
FCF Conversion (EBITDA) 53.57% - 70.89% 63.7% 25.65% -
FCF Conversion (Net income) 71.66% - 83.19% 81.69% 32.8% -
Dividend per Share 2 0.3400 0.3850 0.5500 0.6300 0.6400 0.5200
Announcement Date 2/28/19 2/27/20 2/25/21 2/27/22 2/27/23 2/29/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 3,146 3,365 3,332 3,074 2,910 4,906
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 3.026 x 2.859 x 2.129 x 1.725 x 1.79 x 4.525 x
Free Cash Flow 1 557 -532 1,109 1,135 417 -1,458
ROE (net income / shareholders' equity) 13.5% 14.2% 19% 17.7% 14.8% 9.2%
ROA (Net income/ Total Assets) 6.02% 6.42% 7.9% 8.44% 7.32% 4.31%
Assets 1 12,913 13,893 16,880 16,452 17,373 19,372
Book Value Per Share 2 6.480 7.100 8.080 8.930 9.660 9.960
Cash Flow per Share 2 0.1200 0.0200 0.0400 0.0600 0.0400 0.1100
Capex 1 37.5 46.9 34.1 41.3 47.3 59.7
Capex / Sales 0.92% 1.01% 0.59% 0.63% 0.76% 1.25%
Announcement Date 2/28/19 2/27/20 2/25/21 2/27/22 2/27/23 2/29/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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