Company Valuation: Netbay

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,720 5,000 4,960 3,400 4,260 2,440 - -
Change - 5.93% -0.8% -31.45% 25.29% -42.72% - -
Enterprise Value (EV) 1 4,720 4,938 4,878 3,292 4,068 2,234 2,117 2,063
Change - 4.62% -1.22% -32.5% 23.57% -45.09% -5.22% -2.55%
P/E 28.4x 29.4x 27.6x 15.7x 16x 16.3x 9.84x 8.91x
PBR 9.79x - - - - - - -
PEG - 12.2x 4.69x 0.8x 0.7x -0.4x 0.2x 0.8x
Capitalization / Revenue 11.8x 10.9x 10.2x 5.85x 5.85x 4.49x 3.1x 2.86x
EV / Revenue 11.8x 10.8x 10x 5.66x 5.59x 4.11x 2.69x 2.42x
EV / EBITDA 23.4x 21.9x 20.6x 11.1x 11.2x 10.1x 6.1x 5.42x
EV / EBIT 25.2x 23.3x 22.1x 12.1x 12.2x 11.8x 6.78x 6x
EV / FCF 23.1x 36.8x 25.1x 27.2x 14.7x 12.5x 8.3x 7.32x
FCF Yield 4.33% 2.72% 3.98% 3.67% 6.82% 7.97% 12% 13.7%
Dividend per Share 2 0.7945 0.8162 0.8983 1.179 1.579 0.67 1.12 1.23
Rate of return 3.37% 3.26% 3.62% 6.94% 7.41% 5.49% 9.18% 10.1%
EPS 2 0.83 0.85 0.9 1.08 1.33 0.75 1.24 1.37
Distribution rate 95.7% 96% 99.8% 109% 119% 89.3% 90.3% 89.8%
Net sales 1 400.5 457.2 487.4 581.5 728.2 544 786 853
EBITDA 1 201.9 225.5 236.6 296.7 364.3 222 347 381
EBIT 1 187.1 211.7 220.8 271 333.7 189 312.1 343.9
Net income 1 165.6 169.7 180.3 215.9 265.6 150 248 273
Net Debt 1 - -61.81 -82.15 -107.6 -191.5 -206 -322.7 -376.7
Reference price 2 23.60 25.00 24.80 17.00 21.30 12.20 12.20 12.20
Nbr of stocks (in thousands) 200,000 200,000 200,000 200,000 200,000 200,000 - -
Announcement Date 2/24/22 2/23/23 2/22/24 2/21/25 2/25/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.73x5.11x12.49x0.68% 211B
-476.29x33.37x137.08x-.--% 97.12B
-15.64x7.05x12.05x-.--% 44.64B
62.83x6.07x24.13x-.--% 18.07B
61.32x5.77x19.18x-.--% 14.7B
205.19x11.24x28.82x-.--% 12.33B
-39.62x139.7x-47.02x - 6.14B
29.76x7.08x15.55x-.--% 5.91B
17.92x3.6x9.63x-.--% 5.26B
Average -14.42x 24.33x 23.54x 0.08% 46.18B
Weighted average by Cap. -89.34x 14.17x 41.91x 0.35%

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