Company Valuation: Thai Stanley Electric

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 14,022 13,486 13,869 15,785 16,704 15,095 - -
Change - -3.83% 2.84% 13.81% 5.83% -9.63% - -
Enterprise Value (EV) 1 14,022 7,347 5,893 6,944 16,704 5,574 4,576 3,515
Change - -47.6% -19.79% 17.83% 140.56% -66.63% -17.9% -23.2%
P/E ratio 13.2x 8.87x 7.95x 8.98x 12x 8.37x 8.04x 7.93x
PBR 0.75x 0.67x 0.65x 0.73x 0.78x 0.68x 0.67x 0.65x
PEG - 0.2x 0.5x 13.64x -0.6x 0.3x 1.97x 5.67x
Capitalization / Revenue 1.2x 0.99x 0.96x 1.1x 1.37x 1.27x 1.25x 1.25x
EV / Revenue 1.2x 0.54x 0.41x 0.48x 1.37x 0.47x 0.38x 0.29x
EV / EBITDA 5.73x 2.36x 1.92x 2.07x 6.3x 1.84x 1.45x 1.12x
EV / EBIT 15.7x 4.76x 3.89x 3.86x 13.5x 3.22x 2.56x 1.94x
EV / FCF 11x 4.46x 2.54x 3.06x 11.4x 2.82x 2.08x 1.93x
FCF Yield 9.05% 22.4% 39.3% 32.7% 8.76% 35.4% 48% 51.7%
Dividend per Share 2 5.5 8.5 20 20 12 16.59 16.07 15.46
Rate of return 3.01% 4.83% 11% 9.71% 5.5% 8.42% 8.16% 7.85%
EPS 2 13.85 19.85 22.78 22.93 18.11 23.52 24.49 24.83
Distribution rate 39.7% 42.8% 87.8% 87.2% 66.3% 70.5% 65.6% 62.3%
Net sales 1 11,728 13,582 14,448 14,380 12,235 11,843 12,059 12,122
EBITDA 1 2,448 3,118 3,064 3,359 2,650 3,028 3,159 3,132
EBIT 1 892.4 1,544 1,515 1,801 1,241 1,733 1,790 1,810
Net income 1 1,061 1,521 1,746 1,757 1,388 1,802 1,877 1,903
Net Debt 1 - -6,139 -7,976 -8,841 - -9,521 -10,519 -11,580
Reference price 2 183.00 176.00 181.00 206.00 218.00 197.00 197.00 197.00
Nbr of stocks (in thousands) 76,625 76,625 76,625 76,625 76,625 76,625 - -
Announcement Date 5/14/21 5/20/22 5/22/23 5/17/24 4/24/25 - - -
1THB in Million2THB
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.37x0.47x1.84x8.42% 474M
24.83x1.62x13.37x1.28% 48.97B
19.77x0.8x6.36x2.82% 35.01B
12.64x0.71x5.56x3.19% 34.74B
10.11x0.62x8.33x1.49% 26.29B
15.97x3.15x10.99x3.9% 21.88B
8.93x0.49x4.85x3.36% 16.61B
37.68x3.74x21.7x0.76% 16.15B
11.96x0.95x5.89x-.--% 15.47B
-42.76x0.91x7.02x4.05% 14.73B
Average 10.75x 1.35x 8.59x 2.93% 23.03B
Weighted average by Cap. 14.23x 1.36x 9.36x 2.29%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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