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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 1.03B
7.89x1.08x3.22x7.23% 14.82B
10.79x1.74x5.86x7.67% 7.29B
41.47x18.16x24.75x1.91% 5.36B
15.54x - - - 4.8B
9.75x2.94x7.97x9.98% 3.82B
8.24x0.86x2.74x4.13% 3.39B
6.74x3.25x5.22x13.07% 3.24B
Average 14.34x 4.67x 8.29x 7.33% 5.47B
Weighted average by Cap. 13.56x 3.98x 7.38x 7.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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