Company Valuation: Syntec Construction

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,323 3,102 2,832 2,530 2,546 2,592
Change - 33.56% -8.72% -10.67% 0.63% 1.83%
Enterprise Value (EV) 1 2,542 3,400 2,788 769.5 283.6 112.5
Change - 33.74% -17.98% -72.4% -63.15% -60.34%
P/E 9.69x 24.8x -7.7x 13.2x 4.81x 4.4x
PBR 0.42x 0.55x 0.54x 0.48x 0.45x 0.43x
PEG - -0.5x 0x -0x 0x 0.4x
Capitalization / Revenue 0.29x 0.58x 0.55x 0.34x 0.31x 0.32x
EV / Revenue 0.32x 0.64x 0.54x 0.1x 0.03x 0.01x
EV / EBITDA 4.17x 7.69x -44.8x 1.7x 0.37x 0.11x
EV / EBIT 7.98x 17.8x -9.03x 3.02x 0.48x 0.14x
EV / FCF 2.44x -7.44x 14.7x 0.35x 1.7x 0.25x
FCF Yield 41% -13.4% 6.81% 288% 58.7% 407%
Dividend per Share 2 0.08 0.06 - 0.06 0.09 -
Rate of return 5.48% 3.08% - 3.77% 5.63% -
EPS 2 0.1507 0.0787 -0.2312 0.1205 0.3326 0.3724
Distribution rate 53.1% 76.2% - 49.8% 27.1% -
Net sales 1 7,981 5,309 5,146 7,430 8,215 8,077
EBITDA 1 609.1 442.1 -62.31 453.3 757.9 979.3
EBIT 1 318.4 190.9 -308.8 254.5 589.2 803
Net income 1 239.8 125.2 -367.8 191.8 529.2 590.2
Net Debt 1 219.2 297.2 -43.52 -1,760 -2,262 -2,480
Reference price 2 1.460 1.950 1.780 1.590 1.600 1.640
Nbr of stocks (in thousands) 1,590,957 1,590,957 1,590,957 1,590,957 1,590,957 1,580,597
Announcement Date 3/1/21 2/27/22 2/24/23 2/23/24 2/26/25 2/25/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 76.75M
71.04x3.06x29.91x0.06% 103B
14.35x1.17x6.44x4.08% 81.74B
42.98x5.34x29.67x0.16% 65.17B
27.95x2.11x20.47x1.12% 61.54B
59.3x4.95x31.69x1.43% 49.92B
36.37x0.86x14.52x1.74% 42.72B
30.75x0.62x9.86x1.96% 38.68B
27.33x1.77x17.1x0.18% 35.47B
4.51x0.29x6.19x6.29% 26.73B
Average 34.95x 2.24x 18.43x 1.89% 50.53B
Weighted average by Cap. 39.23x 2.51x 20.12x 1.61%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Syntec Construction