Company Valuation: Saha-Union

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 9,739 9,451 8,505 9,378 9,087 7,924
Change - -2.97% -10% 10.26% -3.1% -12.8%
Enterprise Value (EV) 1 6,180 4,907 3,145 3,032 1,222 -1,083
Change - -20.6% -35.92% -3.6% -59.69% -188.62%
P/E 11.5x 15.7x 7.83x 7.86x 5.88x 4.47x
PBR 0.46x 0.43x 0.38x 0.41x 0.39x 0.32x
PEG - -0.5x 0.1x 0.81x 0.2x 0.3x
Capitalization / Revenue 1.04x 1.06x 0.87x 1.03x 0.9x 0.93x
EV / Revenue 0.66x 0.55x 0.32x 0.33x 0.12x -0.13x
EV / EBITDA 4.24x 4.27x 2.18x 1.88x 0.63x -0.75x
EV / EBIT 9.29x 13.3x 4.1x 3.07x 0.91x -1.27x
EV / FCF 5.83x 7.41x 2.51x 2.7x 1.08x -1.19x
FCF Yield 17.2% 13.5% 39.8% 37.1% 92.2% -83.8%
Dividend per Share 2 1.5 1.5 1.5 1.5 1.6 1.5
Rate of return 4.48% 4.62% 5.13% 4.65% 5.12% 5.5%
EPS 2 2.906 2.068 3.737 4.101 5.313 6.091
Distribution rate 51.6% 72.5% 40.1% 36.6% 30.1% 24.6%
Net sales 1 9,368 8,932 9,831 9,122 10,077 8,531
EBITDA 1 1,459 1,150 1,444 1,609 1,951 1,440
EBIT 1 665.5 370.2 767.3 986.9 1,339 852.2
Net income 1 845.1 601.2 1,087 1,193 1,545 1,771
Net Debt 1 -3,559 -4,543 -5,361 -6,346 -7,865 -9,007
Reference price 2 33.50 32.50 29.25 32.25 31.25 27.25
Nbr of stocks (in thousands) 290,730 290,786 290,786 290,786 290,786 290,786
Announcement Date 3/1/21 2/28/22 2/28/23 2/29/24 2/25/25 2/26/26
1THB in Million2THB
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
17.97x - - -.--% 1,251B
22.67x1.79x10.73x1.23% 139B
24.55x4.19x14.2x1.7% 97.6B
25.14x5.36x18.3x2.23% 82.05B
10.26x4.12x18.76x2.26% 72.24B
22.55x1.69x12.98x0.96% 65.99B
18.63x1.48x10.25x1.31% 62.96B
51.72x3.18x16.33x2.36% 29.08B
Average 24.19x 3.12x 14.51x 1.51% 225B
Weighted average by Cap. 19.44x 3.08x 14.05x 0.5%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Saha-Union

Historical PBR trend

Valuation ratios - PBR - Saha-Union

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Saha-Union

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Saha-Union