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 6,959 - -
Change - 19.25% -39.21% -6.84% - -
Enterprise Value (EV) 10,304 11,700 7,470 6,959 6,959 6,959
Change - 13.55% -36.16% -6.84% 0% 0%
P/E Ratio 35x 26.3x 13.8x 13.2x 11.1x 10.4x
PBR 8.08x 8.06x 5.43x 4.09x 4.36x -
PEG 1.1x 0.4x 0.8x -4.49x 0.6x 1.46x
Capitalization / Revenue 6.27x 7x 3.61x 3.62x 3.19x 2.95x
EV / Revenue 0x 0x 0x 3.62x 3.19x 2.95x
EV / EBITDA 0x 0x 0x 8.89x 7.56x 6.75x
EV / EBIT 0x 0x 0x 8.47x 8.02x -
EV / FCF 0x 0x 0x 12.5x 11.3x -
FCF Yield 2.94% 4.2% 8.79% 8% 8.88% -
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% 6.28% 7.43% 7.71%
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 10.90 10.90 10.90
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 Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
40.72x11.86x20.88x1.44% 24.14B
18.59x3.18x9.86x1.5% 7.09B
146x - - 0.34% 4.92B
21.26x4.06x10.37x3.46% 4.65B
12.99x5.47x8.12x6.36% 4.74B
15.75x5.73x9.47x6.37% 3.63B
27.16x2.68x10.65x5.79% 3.25B
26.77x1.6x5.48x1.89% 3.05B
Average 38.65x 4.94x 10.69x 3.4% 6.93B
Weighted average by Cap. 40.04x 7.68x 14.76x 2.54%

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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  5. Valuation Samart Aviation Solutions
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