Company Valuation: Solartron

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 642.1 816.2 979.4 802 522.8 261.4
Change - 27.12% 20% -18.11% -34.81% -50%
Enterprise Value (EV) 1 1,764 1,403 1,850 1,707 1,150 838.6
Change - -20.45% 31.87% -7.76% -32.63% -27.06%
P/E -1.19x -2.94x -5.86x 4.48x -13.8x -0.47x
PBR 1.53x 2.38x 1.88x 1.03x 0.63x 0.96x
PEG - 0.1x 0.1x -0x 0x -0x
Capitalization / Revenue 2.2x 4.48x 3.6x 2.01x 1.3x 0.44x
EV / Revenue 6.04x 7.71x 6.79x 4.27x 2.86x 1.41x
EV / EBITDA -94.4x -22.8x 39.3x 10.2x -70.8x -2.68x
EV / EBIT -9.51x -6.19x -16x -1,449x -7.53x -1.88x
EV / FCF 18x 10.8x -18x -58.7x 25.5x 8.99x
FCF Yield 5.55% 9.24% -5.56% -1.7% 3.92% 11.1%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.994 -0.5101 -0.1536 0.1497 -0.029 -0.43
Distribution rate - - - - - -
Net sales 1 292.2 182.1 272.4 399.7 401.8 594.8
EBITDA 1 -18.68 -61.47 47.09 167 -16.25 -313.3
EBIT 1 -185.4 -226.6 -115.8 -1.178 -152.7 -446.7
Net income 1 -540.9 -282.9 -167.1 173.8 -35.51 -562
Net Debt 1 1,122 586.9 870.8 904.5 626.9 577.2
Reference price 2 1.1800 1.5000 0.9000 0.6700 0.4000 0.2000
Nbr of stocks (in thousands) 544,125 544,125 1,088,249 1,197,073 1,307,121 1,307,121
Announcement Date 3/2/21 2/28/22 2/28/23 3/1/24 2/27/25 2/23/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 10.19M
21.62x1.34x10.82x-.--% 1.26B
10.39x0.83x2.79x2.6% 1.17B
13.4x2.31x9.67x - 308M
Average 15.14x 1.50x 7.76x 1.3% 687.88M
Weighted average by Cap. 15.89x 1.23x 7.26x 1.25%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


-40%: Exceptional extension
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