Valuation Sappe OTC Markets

Stocks

Delayed OTC Markets Other stock markets			5-day change	1st Jan Change
- ^USD	-.--%		-.--%	-

05-28	Yuanta Securities Upgrades Sappe to Buy from Hold, Price Target is THB39.50	MT
05-14	Sappe posts quarterly profit of 192.1 million baht	RE

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	8,035	13,642	26,667	20,866	9,319	9,088	-	-
Change	-	69.78%	95.48%	-21.75%	-55.34%	-2.48%	-	-
Enterprise Value (EV) ¹	8,035	13,353	26,122	20,105	8,636	8,216	8,058	8,033
Change	-	66.19%	95.62%	-23.03%	-57.05%	-4.87%	-1.92%	-0.31%
P/E Ratio	19.6x	20.9x	24.8x	16.6x	12.2x	11.9x	10.1x	9.33x
PBR	2.77x	4.19x	6.99x	4.76x	2.19x	1.94x	1.78x	1.65x
PEG	-	0.4x	0.4x	1x	-0.3x	-50.18x	0.6x	1.09x
Capitalization / Revenue	2.33x	2.99x	4.41x	3.08x	1.77x	1.64x	1.53x	1.45x
EV / Revenue	2.33x	2.92x	4.32x	2.97x	1.64x	1.48x	1.36x	1.29x
EV / EBITDA	10.8x	13.1x	16.9x	11.1x	7.12x	6.65x	5.92x	5.46x
EV / EBIT	14.7x	16.1x	19.1x	12.8x	8.97x	8.5x	6.95x	6.68x
EV / FCF	-	19.1x	29.4x	-249x	25.4x	17.6x	11.5x	9.24x
FCF Yield	-	5.24%	3.4%	-0.4%	3.94%	5.67%	8.7%	10.8%
Dividend per Share ²	1.1	-	-	-	-	1.569	1.809	1.945
Rate of return	4.19%	-	-	-	-	5.23%	6.03%	6.48%
EPS ²	1.34	2.12	3.49	4.07	2.53	2.524	2.961	3.215
Distribution rate	82.1%	-	-	-	-	62.2%	61.1%	60.5%
Net sales ¹	3,444	4,566	6,053	6,775	5,253	5,543	5,928	6,251
EBITDA ¹	743.4	1,018	1,546	1,804	1,213	1,235	1,362	1,470
EBIT ¹	545.5	830.5	1,368	1,567	962.6	966.1	1,159	1,203
Net income ¹	410.8	653.2	1,074	1,253	776.2	776.1	909.4	988.1
Net Debt ¹	-	-288.4	-544.7	-760.7	-683.1	-872.2	-1,030	-1,055
Reference price ²	26.25	44.25	86.50	67.75	30.75	30.00	30.00	30.00
Nbr of stocks (in thousands)	306,087	308,289	308,289	307,987	303,055	302,925	-	-
Announcement Date	2/24/22	2/28/23	2/27/24	2/24/25	2/27/26	-	-	-