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 1,040,919 - -
Change - -12.5% 7.52% -11.19% 0.79% 13.88% - -
Enterprise Value (EV) 1 1,609,372 1,803,259 1,651,392 1,479,267 1,497,004 1,628,432 1,555,433 1,415,373
Change - 12.05% -8.42% -10.42% 1.2% 8.78% -4.48% -9%
P/E 10x 10.4x 9.12x 10.1x 10.2x 10.1x 10.1x 9.29x
PBR 1.08x 0.9x 0.91x 0.79x 0.8x 0.89x 0.86x 0.81x
PEG - -0.7x 0.4x -0.5x - 0.6x -30.04x 1.05x
Capitalization / Revenue 0.48x 0.28x 0.32x 0.29x 0.34x 0.37x 0.37x 0.36x
EV / Revenue 0.71x 0.54x 0.53x 0.48x 0.56x 0.58x 0.55x 0.48x
EV / EBITDA 3.76x 3.67x 3.87x 3.73x 4.5x 3.85x 3.71x 3.23x
EV / EBIT 6.48x 6.25x 7.21x 6.5x 9.92x 6.9x 6.74x 5.75x
EV / FCF 8.82x 68.1x 7.56x 6.95x 11x 10.4x 8.86x 6.94x
FCF Yield 11.3% 1.47% 13.2% 14.4% 9.06% 9.62% 11.3% 14.4%
Dividend per Share 2 2 2 2 2.1 2.3 2.087 2.176 2.235
Rate of return 5.26% 6.02% 5.59% 6.61% 7.19% 5.68% 5.92% 6.08%
EPS 2 3.79 3.2 3.92 3.15 3.15 3.646 3.634 3.955
Distribution rate 52.8% 62.5% 51% 66.7% 73% 57.2% 59.9% 56.5%
Net sales 1 2,258,818 3,367,203 3,144,551 3,090,453 2,662,145 2,819,202 2,822,634 2,928,942
EBITDA 1 427,956 491,288 426,895 396,234 332,849 422,616 418,701 438,355
EBIT 1 248,298 288,745 229,168 227,498 150,903 235,842 230,844 246,257
Net income 1 108,363 91,175 112,024 90,072 90,166 103,945 103,881 112,941
Net Debt 1 523,978 853,539 630,265 572,392 582,988 587,513 514,513 374,454
Reference price 2 38.00 33.25 35.75 31.75 32.00 36.75 36.75 36.75
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.55x3.38x6.46x5.19% 1,729B
11.49x1.63x5.35x4.05% 348B
7.96x0.85x3.82x3.78% 229B
6.97x0.97x3.83x5.2% 176B
3.29x1.47x2.83x12.98% 105B
7.07x0.76x1.8x4.6% 85.4B
8.45x0.76x3.68x5.15% 71.25B
Average 8.40x 1.40x 3.97x 5.85% 391.98B
Weighted average by Cap. 11.67x 2.57x 5.57x 5.21%

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