Company Valuation: STP&I

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 5,691 10,231 6,650 5,156 5,836 8,191
Change - 79.78% -35% -22.47% 13.17% 40.37%
Enterprise Value (EV) 1 7,138 8,300 5,614 5,981 9,380 11,334
Change - 16.28% -32.36% 6.54% 56.82% 20.83%
P/E -6.84x 31.9x -45.9x 25.6x 59.3x 42x
PBR 0.77x 1.33x 0.88x 0.67x 0.68x 0.94x
PEG - -0x 0x -0x -1x 0.4x
Capitalization / Revenue 3.23x 4.53x 1.76x 1.31x 2.33x 2.4x
EV / Revenue 4.05x 3.67x 1.48x 1.52x 3.74x 3.32x
EV / EBITDA -423x 36.8x 75.2x 12.7x 27.8x 17.2x
EV / EBIT -12.9x 3,378x -60.5x 19.8x 79.9x 38.2x
EV / FCF -24.1x 86x -24x 136x -69.8x 15.6x
FCF Yield -4.14% 1.16% -4.16% 0.73% -1.43% 6.42%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.5204 0.2004 -0.0906 0.1257 0.0543 0.1077
Distribution rate - - - - - -
Net sales 1 1,763 2,259 3,784 3,933 2,507 3,409
EBITDA 1 -16.87 225.3 74.64 471.9 337.8 659.2
EBIT 1 -555.3 2.457 -92.72 301.5 117.4 296.6
Net income 1 -836.7 320.3 -144.9 201 90.97 195.1
Net Debt 1 1,447 -1,931 -1,037 824.9 3,544 3,142
Reference price 2 3.560 6.400 4.160 3.220 3.220 4.520
Nbr of stocks (in thousands) 1,598,651 1,598,651 1,598,651 1,601,311 1,812,272 1,812,272
Announcement Date 3/1/21 3/1/22 2/28/23 3/1/24 2/28/25 3/2/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 283M
8.33x1.76x4.57x7.63% 57.29B
12.85x1.41x7.34x0.95% 53.54B
14.54x0.83x6.77x0.98% 48.17B
13.81x2.33x5.22x4.46% 34.59B
20.08x1.77x9.78x0.58% 31.18B
13.73x1.47x8.49x0.94% 32.42B
12.82x1.15x6.93x2.34% 23.22B
11.52x0.75x6.66x3.71% 21.57B
16.86x1.22x11.08x1.26% 20.07B
Average 13.84x 1.41x 7.43x 2.54% 32.23B
Weighted average by Cap. 13.35x 1.45x 7.05x 2.79%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA