Company Valuation: Regional Container Lines

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 11,768 40,816 25,484 20,056 23,412 22,583
Change - 246.83% -37.56% -21.3% 16.74% -3.54%
Enterprise Value (EV) 1 14,053 36,801 13,799 13,751 22,653 21,858
Change - 161.87% -62.5% -0.35% 64.74% -3.51%
P/E 6.74x 2.27x 1.03x 13.4x 2.55x 2.77x
PBR 1.3x 1.58x 0.56x 0.46x 0.46x 0.42x
PEG - 0x 0x -0.1x 0x -0.3x
Capitalization / Revenue 0.68x 1.07x 0.49x 0.76x 0.67x 0.61x
EV / Revenue 0.82x 0.97x 0.26x 0.52x 0.65x 0.59x
EV / EBITDA 5.21x 2.02x 0.55x 3.51x 2.21x 1.75x
EV / EBIT 8.27x 2.15x 0.59x 7.01x 2.81x 2.68x
EV / FCF 6.68x 5.04x 2.63x -5.05x -2.7x -21.1x
FCF Yield 15% 19.8% 38% -19.8% -37.1% -4.73%
Dividend per Share 2 0.5 6 7 0.75 2.5 2.5
Rate of return 3.52% 12.2% 22.8% 3.1% 8.85% 9.17%
EPS 2 2.105 21.69 29.71 1.812 11.07 9.854
Distribution rate 23.7% 27.7% 23.6% 41.4% 22.6% 25.4%
Net sales 1 17,195 37,979 52,074 26,268 35,096 36,924
EBITDA 1 2,698 18,210 25,124 3,912 10,272 12,499
EBIT 1 1,700 17,114 23,521 1,962 8,072 8,153
Net income 1 1,745 17,973 24,625 1,502 9,171 8,167
Net Debt 1 2,285 -4,015 -11,685 -6,305 -759.2 -725.9
Reference price 2 14.20 49.25 30.75 24.20 28.25 27.25
Nbr of stocks (in thousands) 828,750 828,750 828,750 828,750 828,750 828,750
Announcement Date 2/25/21 2/25/22 2/24/23 2/23/24 2/21/25 2/20/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 843M
7.56x1.19x4.08x9.93% 13.79B
9.74x1.56x5.32x7.52% 6.43B
44.43x17x24.46x2.06% 4.95B
14.07x - - - 4.33B
8.58x2.69x7.14x11.57% 3.26B
7.79x3.45x5.47x12.92% 3.14B
7.74x0.83x2.54x2.76% 3B
5.49x - -176.86x18.2% 2.66B
5.08x2.33x3.36x - 2.55B
Average 12.28x 4.15x -15.56x 9.28% 4.49B
Weighted average by Cap. 12.49x 3.73x -5.08x 8.87%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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