Company Valuation: Sahathai Terminal

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,700 1,639 1,312 643.6 728.6 346.1
Change - -3.57% -20% -50.93% 13.21% -52.5%
Enterprise Value (EV) 1 3,726 3,519 3,249 2,306 2,193 1,782
Change - -5.56% -7.68% -29.03% -4.9% -18.71%
P/E 29.3x 59.3x -12.9x -55.8x 53.3x -52.4x
PBR 1.2x 1.16x 1.01x 0.5x 0.54x 0.26x
PEG - -1.1x 0x 0.6x -0x 0x
Capitalization / Revenue 1.26x 1.03x 0.64x 0.42x 0.49x 0.24x
EV / Revenue 2.77x 2.21x 1.59x 1.5x 1.49x 1.22x
EV / EBITDA 16.4x 19.1x 25.9x 21x 12.5x 11x
EV / EBIT 29.1x 37.7x 81x 94.1x 27.5x 29.2x
EV / FCF 27.5x 16.5x 12.3x 8.62x 8.95x 6.64x
FCF Yield 3.63% 6.08% 8.11% 11.6% 11.2% 15.1%
Dividend per Share 2 0.035 0.025 - - - -
Rate of return 1.25% 0.93% - - - -
EPS 2 0.0957 0.0455 -0.1669 -0.019 0.0225 -0.0109
Distribution rate 36.6% 55% - - - -
Net sales 1 1,347 1,589 2,042 1,533 1,475 1,466
EBITDA 1 227.7 184.5 125.3 109.8 174.9 162.6
EBIT 1 127.9 93.45 40.1 24.5 79.73 61.03
Net income 1 58.1 27.62 -101.4 -11.54 13.66 -6.608
Net Debt 1 2,026 1,879 1,937 1,662 1,464 1,436
Reference price 2 2.8000 2.7000 2.1600 1.0600 1.2000 0.5700
Nbr of stocks (in thousands) 607,200 607,200 607,200 607,203 607,203 607,203
Announcement Date 2/23/21 2/25/22 2/21/23 2/22/24 2/28/25 2/25/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 15.17M
26.44x9.95x17.11x0.54% 41.85B
8.34x3.18x7.49x3.89% 18.65B
7.83x - - 5.43% 8.99B
47.38x12.93x28.42x0.25% 8.41B
12.12x3.05x7.79x5% 8.47B
31.08x9.04x16.19x1.58% 6.12B
7.62x3.02x12.95x5.32% 3.06B
Average 20.12x 6.86x 14.99x 3.14% 11.95B
Weighted average by Cap. 21.42x 7.79x 15.01x 2.24%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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