Company Valuation: MBK

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 16,668 18,624 24,720 21,818 28,541 27,046
Change - 11.74% 32.73% -11.74% 30.81% -5.24%
Enterprise Value (EV) 1 43,906 43,967 51,466 54,007 60,539 58,576
Change - 0.14% 17.06% 4.94% 12.09% -3.24%
P/E 115x -22.5x 84.3x 15.6x 11.8x 6.58x
PBR 0.8x 0.91x 1.27x 1.12x 1.36x 1.03x
PEG - 0x -1x 0x 0.2x 0.1x
Capitalization / Revenue 1.98x 2.55x 2.81x 1.89x 2.12x 1.86x
EV / Revenue 5.22x 6.03x 5.84x 4.67x 4.49x 4.04x
EV / EBITDA 18.4x 23.8x 18.4x 13x 10.4x 8.66x
EV / EBIT 44.7x 207x 43.5x 20.5x 14.1x 11.2x
EV / FCF 20.7x 88.1x 19.8x 19.5x 18.5x 12.9x
FCF Yield 4.83% 1.13% 5.05% 5.13% 5.41% 7.74%
Dividend per Share 2 - - 0.8 0.8 0.95 1.1
Rate of return - - 4.52% 5.06% 4.63% 6.29%
EPS 2 0.11 -0.595 0.21 1.01 1.74 2.66
Distribution rate - - 381% 79.2% 54.6% 41.4%
Net sales 1 8,408 7,297 8,812 11,553 13,490 14,512
EBITDA 1 2,385 1,844 2,795 4,159 5,796 6,763
EBIT 1 983.1 212.5 1,182 2,634 4,304 5,240
Net income 1 149.2 -804.5 331.9 1,567 2,686 4,280
Net Debt 1 27,237 25,343 26,746 32,189 31,998 31,530
Reference price 2 12.60 13.40 17.70 15.80 20.50 17.50
Nbr of stocks (in thousands) 1,322,882 1,389,881 1,396,598 1,380,875 1,392,224 1,545,486
Announcement Date 3/1/21 2/28/22 2/28/23 2/29/24 2/27/25 2/26/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 1.02B
15.91x5x13.46x3.19% 45.28B
21.05x4.29x17.61x1.19% 31.01B
8.63x1.5x7.64x4.09% 30.36B
5.65x0.62x1.28x8.91% 27B
14.4x3.12x14.94x2.44% 25.69B
15.25x6.85x18.39x1.4% 21.48B
9.06x2.34x7.19x3.85% 21.36B
Average 12.85x 3.39x 11.50x 3.58% 25.4B
Weighted average by Cap. 13.25x 3.46x 11.65x 3.57%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA