Company Valuation: Thai Union Group

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 90,769 78,672 66,827 55,317 49,345 48,960 - -
Change - -13.33% -15.06% -17.22% -10.8% -0.78% - -
Enterprise Value (EV) 1 152,087 126,000 118,365 115,495 116,015 111,367 110,416 108,868
Change - -17.15% -6.06% -2.42% 0.45% -4.01% -0.85% -1.4%
P/E 11.7x 11.5x -4.76x 12x 11x 10.9x 10x 9.29x
PBR 1.53x 0.98x 1.16x 1.14x 1.11x 1.1x 1.04x 0.98x
PEG - -1x 0x -0x 1.49x 12.37x 1.25x 1.14x
Capitalization / Revenue 0.64x 0.51x 0.49x 0.4x 0.37x 0.35x 0.34x 0.33x
EV / Revenue 1.08x 0.81x 0.87x 0.83x 0.87x 0.8x 0.77x 0.73x
EV / EBITDA 12.2x 10.2x 10.7x 9.97x 11.2x 9.36x 8.71x 8.24x
EV / EBIT 18.4x 15.7x 17.1x 16x 18.8x 15.3x 14x 12.8x
EV / FCF 71.8x 237x 18.7x 10.5x 143x 16.1x 20.8x 19x
FCF Yield 1.39% 0.42% 5.34% 9.5% 0.7% 6.19% 4.82% 5.28%
Dividend per Share 2 0.95 0.84 0.54 0.66 0.7 0.7471 0.7958 0.8527
Rate of return 4.87% 4.97% 3.6% 5.08% 5.47% 5.88% 6.27% 6.71%
EPS 2 1.66 1.47 -3.15 1.08 1.16 1.17 1.264 1.367
Distribution rate 57.2% 57.1% -17.1% 61.1% 60.3% 63.8% 63% 62.4%
Net sales 1 141,048 155,586 136,153 138,433 132,719 138,852 143,721 148,126
EBITDA 1 12,440 12,374 11,103 11,587 10,380 11,899 12,684 13,217
EBIT 1 8,256 8,050 6,912 7,222 6,170 7,266 7,892 8,513
Net income 1 8,013 7,138 -13,933 4,985 4,609 4,761 5,225 5,669
Net Debt 1 61,318 47,328 51,538 60,178 66,670 62,406 61,456 59,908
Reference price 2 19.50 16.90 15.00 13.00 12.80 12.70 12.70 12.70
Nbr of stocks (in thousands) 4,654,815 4,655,133 4,455,133 4,255,133 3,855,094 3,855,133 - -
Announcement Date 2/23/22 2/20/23 2/19/24 2/17/25 2/19/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.85x0.8x9.36x5.88% 1.47B
33.29x2.04x9.33x4.11% 11.41B
23.65x3.09x11.36x3.52% 8.33B
25.85x1.04x7.02x5.83% 2.69B
12.08x0.63x8.72x2.91% 2.23B
17.15x0.72x4.66x7.74% 1.79B
8.01x0.33x3.75x3.44% 1.14B
Average 18.70x 1.23x 7.74x 4.78% 4.15B
Weighted average by Cap. 25.09x 1.93x 9.14x 4.29%

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

  1. Stock Market
  2. Stocks
  3. TU Stock
  4. Valuation Thai Union Group