Company Valuation: Samart Aviation Solutions

Data adjusted to current consolidation scope
Fiscal Period: December 2023 2024 2025 2026 2027 2028
Market Cap 1 10,304 12,288 7,470 7,214 - -
Change - 19.25% -39.21% -3.42% - -
Enterprise Value (EV) 10,304 11,700 7,470 7,214 7,214 7,214
Change - 13.55% -36.16% -3.42% 0% 0%
P/E 35x 26.3x 13.8x 13.7x 11.5x 10.8x
PBR 8.08x 8.06x 5.43x 4.24x 4.52x -
PEG 1.1x 0.4x 0.8x -4.66x 0.6x 1.51x
Capitalization / Revenue 6.27x 7x 3.61x 3.75x 3.3x 3.06x
EV / Revenue 0x 0x 0x 3.75x 3.3x 3.06x
EV / EBITDA 0x 0x 0x 9.22x 7.84x 7x
EV / EBIT 0x 0x 0x 8.78x 8.31x -
EV / FCF 0x 0x 0x 13x 11.7x -
FCF Yield 2.94% 4.2% 8.79% 7.72% 8.57% -
Dividend per Share 2 0.75 1.1 0.9 0.685 0.81 0.84
Rate of return 4.66% 5.73% 7.69% 6.06% 7.17% 7.43%
EPS 2 0.46 0.73 0.85 0.825 0.98 1.05
Distribution rate 163% 151% 106% 83% 82.7% 80%
Net sales 1 1,644 1,756 2,071 1,923 2,184 2,360
EBITDA 1 579.1 710 826.2 782.5 920 1,031
EBIT 1 514.8 642.5 753.3 822 868 -
Net income 1 271.6 464.3 545.8 528 629 675
Net Debt - -588 - - - -
Reference price 2 16.10 19.20 11.70 11.30 11.30 11.30
Nbr of stocks (in thousands) 640,000 640,000 638,425 638,425 - -
Announcement Date 2/21/24 2/19/25 2/27/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.7x - - 6.06% 217M
46.02x13.43x23.68x1.28% 27.27B
19.6x3.25x10.07x1.44% 7.33B
14.36x6x8.93x5.74% 5.22B
22.19x4.22x10.79x3.31% 4.81B
140.5x - - 0.36% 4.73B
16.1x5.97x9.87x6.23% 3.78B
26.85x2.65x10.52x5.86% 3.18B
24.97x1.43x4.92x2.03% 2.84B
Average 36.03x 5.28x 11.25x 3.59% 6.6B
Weighted average by Cap. 41.52x 8.76x 16.58x 2.4%

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

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  4. Valuation Samart Aviation Solutions