Company Valuation: MFEC

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,119 4,812 3,510 2,936 2,693 2,273
Change - 127.08% -27.06% -16.35% -8.27% -15.57%
Enterprise Value (EV) 1 2,088 5,168 3,939 3,321 2,797 1,891
Change - 147.52% -23.78% -15.71% -15.76% -32.39%
P/E 8.73x 18.7x 15x 4.31x 9.89x 9.68x
PBR 1.11x 2.42x 1.73x 1.16x 1.03x 0.88x
PEG - 3.2x -1.67x 0x -0.2x -0.7x
Capitalization / Revenue 0.45x 0.93x 0.64x 0.43x 0.4x 0.33x
EV / Revenue 0.44x 1x 0.72x 0.49x 0.41x 0.27x
EV / EBITDA 6.03x 15x 14.2x 20.2x 7.45x 4.86x
EV / EBIT 6.72x 16.7x 16x 25.5x 8.49x 5.51x
EV / FCF 10.2x -34.4x 41x 66.1x 6.52x 2.39x
FCF Yield 9.81% -2.91% 2.44% 1.51% 15.3% 41.9%
Dividend per Share 2 0.4 0.4 0.4 0.4 0.5 0.5
Rate of return 8.33% 3.67% 5.03% 6.02% 8.2% 9.71%
EPS 2 0.55 0.5821 0.53 1.543 0.6167 0.5318
Distribution rate 72.7% 68.7% 75.5% 25.9% 81.1% 94%
Net sales 1 4,731 5,185 5,453 6,777 6,812 6,913
EBITDA 1 346.1 343.9 278 164.7 375.6 389.5
EBIT 1 310.5 309.5 246.3 130.4 329.6 343.4
Net income 1 244.6 257 234.9 681.1 272.3 234.8
Net Debt 1 -30.93 356.5 429.8 385 104.5 -382.1
Reference price 2 4.800 10.900 7.950 6.650 6.100 5.150
Nbr of stocks (in thousands) 441,454 441,454 441,454 441,454 441,454 441,454
Announcement Date 2/23/21 2/23/22 2/22/23 2/28/24 2/25/25 2/24/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.25x3.75x13.1x2.88% 221B
-115.3x18.35x105.96x-.--% 114B
13.11x1.45x7.6x3.65% 108B
15.29x2.8x10.56x5.37% 89.33B
19.78x5.21x12.81x2.88% 59.78B
15.31x2.24x9.49x5.1% 49.52B
22.87x1.75x11.09x0.83% 43.08B
21.64x1.77x10.98x1.35% 41.87B
18.53x2.38x11.3x4.67% 38.48B
Average 3.83x 4.41x 21.43x 2.97% 85.01B
Weighted average by Cap. -0.89x 5.22x 25.29x 2.89%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA