Company Valuation: Land and Houses

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 105,157 118,302 97,390 60,346 45,170 41,107 - -
Change - 12.5% -17.68% -38.04% -25.15% -8.99% - -
Enterprise Value (EV) 1 160,558 176,090 164,010 139,011 118,244 113,852 108,771 104,348
Change - 9.67% -6.86% -15.24% -14.94% -3.71% -4.46% -4.07%
P/E 15.2x 14.1x 12.9x 11x 12.2x 11.7x 9.92x 8.73x
PBR 2.11x 2.29x 1.89x 1.17x 0.87x 0.77x 0.74x 0.73x
PEG - 0.7x -1.29x -0.4x -0.4x -2.25x 0.6x 0.6x
Capitalization / Revenue 3.26x 3.32x 3.64x 2.39x 2.13x 1.86x 1.56x 1.56x
EV / Revenue 4.98x 4.95x 6.13x 5.51x 5.57x 5.15x 4.14x 3.95x
EV / EBITDA 20.9x 20.7x 31x 32.1x 34.7x 29x 25.4x 23.5x
EV / EBIT 26x 25.8x 48x 60.6x 85.1x 98.2x 55.9x 51.9x
EV / FCF 17.5x 34.7x 45.8x -13.8x 21.3x 35.2x 23.2x 32.9x
FCF Yield 5.73% 2.89% 2.18% -7.22% 4.69% 2.84% 4.31% 3.04%
Dividend per Share 2 0.5 - 0.5 0.32 0.25 0.225 0.2593 0.2962
Rate of return 5.68% - 6.13% 6.34% 6.61% 6.54% 7.54% 8.61%
EPS 2 0.58 0.7 0.63 0.46 0.31 0.2939 0.3468 0.3941
Distribution rate 86.2% - 79.4% 69.6% 80.6% 76.6% 74.8% 75.2%
Net sales 1 32,270 35,597 26,745 25,221 21,221 22,117 26,293 26,397
EBITDA 1 7,699 8,501 5,295 4,328 3,412 3,919 4,284 4,446
EBIT 1 6,183 6,834 3,418 2,293 1,389 1,160 1,947 2,012
Net income 1 6,936 8,313 7,482 5,348 3,716 3,477 4,192 4,574
Net Debt 1 55,400 57,788 66,620 78,665 73,074 72,745 67,664 63,241
Reference price 2 8.800 9.900 8.150 5.050 3.780 3.440 3.440 3.440
Nbr of stocks (in thousands) 11,949,713 11,949,713 11,949,713 11,949,713 11,949,713 11,949,713 - -
Announcement Date 2/24/22 2/27/23 2/28/24 2/26/25 3/2/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.71x5.15x29.05x6.54% 1.22B
60.56x - - - 64.64B
13.75x4.48x12.05x3.68% 39.14B
5.61x0.73x1.51x8.77% 27.43B
8.05x1.45x8.04x4.4% 26.73B
17.28x3.88x15.6x1.42% 26.68B
13.18x3.02x14.44x2.65% 24.33B
9.11x3.35x7.66x-.--% 21.47B
10.19x2x8.23x4.12% 20.47B
7.95x0.88x3.21x2.81% 20.33B
Average 15.74x 2.77x 11.09x 3.82% 27.25B
Weighted average by Cap. 22.70x 2.64x 9.28x 3.63%

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

  1. Stock Market
  2. Stocks
  3. LH Stock
  4. Valuation Land and Houses