Company Valuation: Sea Oil

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,474 1,936 2,854 2,173 1,877 2,202
Change - 31.35% 47.47% -23.88% -13.61% 17.32%
Enterprise Value (EV) 1 1,789 2,024 2,760 1,327 764.4 854.5
Change - 13.12% 36.35% -51.91% -42.41% 11.78%
P/E 79.9x 8.38x 6.48x 6.26x 5.25x 8.36x
PBR 1.05x 1.17x 1.36x 0.89x 0.73x 0.82x
PEG - 0x 0.1x -0.3x 1.75x -0.3x
Capitalization / Revenue 0.28x 0.17x 0.13x 0.16x 0.11x 0.11x
EV / Revenue 0.34x 0.18x 0.13x 0.1x 0.04x 0.04x
EV / EBITDA 221x 180x 888x 9.35x 4.4x 4.72x
EV / EBIT -58.5x -97.5x -293x 13.3x 5.84x 6.17x
EV / FCF -73.3x -17.9x -6.54x 2.36x 4.79x 5.67x
FCF Yield -1.36% -5.6% -15.3% 42.4% 20.9% 17.6%
Dividend per Share 2 0.0061 0.0065 0.0069 0.2 0.22 0.18
Rate of return 0.31% 0.25% 0.18% 6.8% 8.66% 6.04%
EPS 2 0.025 0.3125 0.5962 0.4693 0.4834 0.3563
Distribution rate 24.4% 2.08% 1.16% 42.6% 45.5% 50.5%
Net sales 1 5,275 11,340 21,669 13,828 17,499 19,772
EBITDA 1 8.079 11.24 3.109 141.9 173.6 181.1
EBIT 1 -30.6 -20.76 -9.419 99.46 131 138.5
Net income 1 18.45 230.9 440.6 346.8 357.2 263.3
Net Debt 1 315.8 88.51 -94.45 -845.3 -1,113 -1,348
Reference price 2 1.994 2.619 3.862 2.940 2.540 2.980
Nbr of stocks (in thousands) 738,997 738,995 738,984 738,982 738,982 738,982
Announcement Date 2/23/21 2/25/22 2/24/23 2/21/24 2/21/25 2/24/26
1THB in Million2THB
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 73.72M
17.09x0.4x7.91x5.56% 4.78B
14.63x0.19x6.32x3.8% 4.62B
10.2x0.68x6.42x6.66% 3.87B
6.67x0.3x6.87x8.54% 3.1B
13.28x0.05x5.65x2.28% 2B
10.31x0.5x6.58x7.25% 1.59B
3.31x0.39x4.21x5.15% 1.35B
Average 10.79x 0.36x 6.28x 5.61% 2.67B
Weighted average by Cap. 12.05x 0.37x 6.60x 5.6%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA