Company Valuation: PTT

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,085,394 949,720 1,021,127 906,875 914,016 1,154,217 - -
Change - -12.5% 7.52% -11.19% 0.79% 26.28% - -
Enterprise Value (EV) 1 1,609,372 1,803,259 1,651,392 1,479,267 1,497,004 1,718,769 1,638,153 1,563,450
Change - 12.05% -8.42% -10.42% 1.2% 14.81% -4.69% -4.56%
P/E 10x 10.4x 9.12x 10.1x 10.2x 9.35x 10.8x 9.56x
PBR 1.08x 0.9x 0.91x 0.79x 0.8x 0.98x 0.94x 0.81x
PEG - -0.7x 0.4x -0.5x - 0.2x -0.8x 0.7x
Capitalization / Revenue 0.48x 0.28x 0.32x 0.29x 0.34x 0.4x 0.41x 0.4x
EV / Revenue 0.71x 0.54x 0.53x 0.48x 0.56x 0.6x 0.58x 0.54x
EV / EBITDA 3.76x 3.67x 3.87x 3.73x 4.5x 3.77x 3.85x 3.56x
EV / EBIT 6.48x 6.25x 7.21x 6.5x 9.92x 6.16x 6.79x 6.19x
EV / FCF 8.82x 68.1x 7.56x 6.95x 11x 9.67x 9.78x 7.8x
FCF Yield 11.3% 1.47% 13.2% 14.4% 9.06% 10.3% 10.2% 12.8%
Dividend per Share 2 2 2 2 2.1 2.3 2.278 2.166 2.224
Rate of return 5.26% 6.02% 5.59% 6.61% 7.19% 5.59% 5.31% 5.46%
EPS 2 3.79 3.2 3.92 3.15 3.15 4.36 3.775 4.263
Distribution rate 52.8% 62.5% 51% 66.7% 73% 52.3% 57.4% 52.2%
Net sales 1 2,258,818 3,367,203 3,144,551 3,090,453 2,662,145 2,852,043 2,831,863 2,906,747
EBITDA 1 427,956 491,288 426,895 396,234 332,849 456,404 425,840 439,468
EBIT 1 248,298 288,745 229,168 227,498 150,903 278,871 241,379 252,655
Net income 1 108,363 91,175 112,024 90,072 90,166 124,425 107,961 113,113
Net Debt 1 523,978 853,539 630,265 572,392 582,988 564,552 483,937 409,233
Reference price 2 38.00 33.25 35.75 31.75 32.00 40.75 40.75 40.75
Nbr of stocks (in thousands) 28,562,996 28,562,996 28,562,996 28,562,996 28,562,996 28,324,336 - -
Announcement Date 2/17/22 2/16/23 2/15/24 2/20/25 2/19/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.89x3.55x6.68x5.28% 1,701B
13.4x1.88x6.06x3.48% 403B
8.51x0.64x3.94x6.15% 297B
8.22x0.9x3.98x3.35% 258B
8.4x1.07x4.47x4.53% 201B
6.31x1.86x3.02x7.24% 158B
3.76x1.56x2.93x8.05% 118B
8.1x0.87x2.14x3.67% 102B
8.74x0.83x4.12x4.63% 82.13B
Average 8.82x 1.46x 4.15x 5.15% 368.79B
Weighted average by Cap. 11.55x 2.43x 5.50x 5.07%

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