Company Valuation: Thai Film Industries

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 389 4,207 2,356 1,346 1,178 841.3
Change - 981.31% -44% -42.86% -12.5% -28.57%
Enterprise Value (EV) 1 145.7 4,011 2,398 1,523 1,408 1,180
Change - 2,653.64% -40.23% -36.49% -7.52% -16.23%
P/E 15.7x -16.2x -7.24x -3.61x -3.5x -3.6x
PBR 1.06x 1.55x 0.99x 0.67x 0.59x 0.48x
PEG - 0x -0.3x -0.2x 0.35x 0.1x
Capitalization / Revenue 5,150x 13.9x 2.94x 3.54x 1.7x 1.78x
EV / Revenue 1,929x 13.3x 2.99x 4.01x 2.03x 2.5x
EV / EBITDA -1.76x -40.5x -12.7x -7.64x -6.74x -11.1x
EV / EBIT -0.91x -14.4x -6.25x -3.81x -3.46x -4.21x
EV / FCF -0.73x -12.5x -21.4x 51.1x -114x -46.6x
FCF Yield -137% -8% -4.68% 1.96% -0.88% -2.15%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.0121 -0.0154 -0.0194 -0.0222 -0.02 -0.0139
Distribution rate - - - - - -
Net sales 1 0.0755 301.8 801.1 380 692.6 472.1
EBITDA 1 -82.68 -99.05 -188.6 -199.2 -208.9 -106.1
EBIT 1 -160 -277.8 -383.4 -400.2 -406.7 -280.5
Net income 1 26.39 -241.8 -325.6 -372.9 -336.1 -233.6
Net Debt 1 -243.3 -195.1 42.16 176.8 230.6 338.6
Reference price 2 0.1900 0.2500 0.1400 0.0800 0.0700 0.0500
Nbr of stocks (in thousands) 2,047,500 16,826,224 16,826,224 16,826,224 16,826,224 16,826,224
Announcement Date 2/10/21 2/23/22 2/23/23 2/22/24 2/24/25 2/26/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.48x1.33x8.09x6.25% 19.34B
18.33x2.93x8.26x3.35% 18.13B
15.99x1.38x9.51x1.43% 14.83B
17.93x1.75x10.68x2.33% 12.93B
14.19x1.2x7.83x1.33% 11.33B
18.22x2.17x10.31x1.53% 11.3B
30.33x1.13x8.36x2.69% 9.11B
22.72x2.03x9.76x1.61% 7.7B
Average 18.90x 1.74x 9.10x 2.57% 13.09B
Weighted average by Cap. 17.96x 1.78x 9.00x 2.89%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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  5. Valuation Thai Film Industries