Company Valuation: Thai Parcels

Data adjusted to current consolidation scope
Fiscal Period: December 2023 2024 2025
Market Cap 1 728.4 429.7 1,002
Change - -41.01% 133.13%
Enterprise Value (EV) 1 509.4 305.2 1,758
Change - -40.08% 475.88%
P/E -205x 142x -4.93x
PBR 0.9x 0.53x 0.59x
PEG 2x -1x 0x
Capitalization / Revenue 1.45x 0.85x 1.55x
EV / Revenue 1.01x 0.6x 2.71x
EV / EBITDA 20.4x 8.13x 70.7x
EV / EBIT -332x 24.5x -31.2x
EV / FCF -29.9x 6.35x 92.2x
FCF Yield -3.35% 15.7% 1.08%
Dividend per Share 2 - - -
Rate of return - - -
EPS 2 -0.006771 0.005767 -0.1034
Distribution rate - - -
Net sales 1 502 507.5 648.3
EBITDA 1 24.92 37.53 24.87
EBIT 1 -1.533 12.45 -56.28
Net income 1 -3.154 3.022 -79.44
Net Debt 1 -219 -124.5 756
Reference price 2 1.3900 0.8200 0.5100
Nbr of stocks (in thousands) 524,000 524,000 1,964,161
Announcement Date 2/27/24 2/26/25 3/2/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 26.93M
15.49x1.09x7.98x6.98% 79.88B
15.9x0.96x7.07x3.59% 69.49B
13.95x0.85x7.5x2.08% 67.94B
12.6x9.38x28.92x5.46% 41.7B
28.21x1.18x10.12x0.6% 41.68B
24.67x1.16x12.35x3.1% 31.53B
24.05x1.8x17.19x0.84% 24.4B
13.95x0.4x3.99x2.98% 22.92B
9.86x1.41x5.2x4.28% 14.74B
Average 17.63x 2.03x 11.15x 3.32% 39.43B
Weighted average by Cap. 17.30x 1.94x 10.76x 3.68%

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 Thai Parcels