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 7,150 - -
Change - 19.25% -39.21% -4.27% - -
Enterprise Value (EV) 10,304 11,700 7,470 7,150 7,150 7,150
Change - 13.55% -36.16% -4.27% 0% 0%
P/E 35x 26.3x 13.8x 13.4x 11.4x 10.7x
PBR 8.08x 8.06x 5.43x 4.43x 4.58x -
PEG 1.1x 0.4x 0.8x -6.83x 0.6x 1.5x
Capitalization / Revenue 6.27x 7x 3.61x 3.73x 3.31x 3.03x
EV / Revenue 0x 0x 0x 3.73x 3.31x 3.03x
EV / EBITDA 0x 0x 0x 9.16x 7.86x 6.94x
EV / EBIT 0x 0x 0x 9.35x 8.51x -
EV / FCF 0x 0x 0x 13.3x 12.1x -
FCF Yield 2.94% 4.2% 8.79% 7.52% 8.29% -
Dividend per Share 2 0.75 1.1 0.9 0.74 0.84 0.84
Rate of return 4.66% 5.73% 7.69% 6.61% 7.5% 7.5%
EPS 2 0.46 0.73 0.85 0.8333 0.98 1.05
Distribution rate 163% 151% 106% 88.8% 85.7% 80%
Net sales 1 1,644 1,756 2,071 1,918 2,157 2,360
EBITDA 1 579.1 710 826.2 781 909.7 1,031
EBIT 1 514.8 642.5 753.3 765 840 -
Net income 1 271.6 464.3 545.8 533.7 628.3 675
Net Debt - -588 - - - -
Reference price 2 16.10 19.20 11.70 11.20 11.20 11.20
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.($)
46.22x13.45x23.77x1.28% 26.95B
19.57x3.2x9.91x1.52% 6.95B
13.72x5.77x8.58x6% 5B
22.45x4.27x10.91x3.27% 4.85B
136.5x - - 0.37% 4.61B
15.89x5.9x9.76x6.32% 3.72B
25.86x2.56x10.14x6.08% 3.06B
25.6x1.49x5.11x1.98% 2.92B
Average 38.23x 5.23x 11.17x 3.35% 7.26B
Weighted average by Cap. 41.35x 8.76x 16.61x 2.42%

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