Company Valuation: Thai Vegetable Oil

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 25,067 25,350 19,035 20,458 19,924 23,349 - -
Change - 1.13% -24.91% 7.48% -2.61% 17.19% - -
Enterprise Value (EV) 1 25,067 25,026 21,008 23,280 19,316 24,280 24,234 24,143
Change - -0.16% -16.06% 10.82% -17.03% 25.69% -0.19% -0.38%
P/E 12.1x 15.8x 26.1x 9.75x 9.11x 10.3x 9.82x 9.42x
PBR 2.64x 2.48x 1.89x 1.87x 1.72x 2x 1.91x 1.83x
PEG - -0.7x -0.5x 0x 2.15x 3.17x 1.87x 2.22x
Capitalization / Revenue 0.8x 0.65x 0.56x 0.67x 0.72x 0.76x 0.74x 0.71x
EV / Revenue 0.8x 0.64x 0.61x 0.76x 0.7x 0.79x 0.77x 0.74x
EV / EBITDA 10x 9.81x 33.5x 8.58x 6.38x 7.59x 7.46x 7.16x
EV / EBIT 11.6x 11.2x 63.4x 9.66x 7.31x 9.01x 8.95x 8.51x
EV / FCF 52.9x 12.6x 72.3x 6.38x 15.6x 14.4x 11.4x 11x
FCF Yield 1.89% 7.96% 1.38% 15.7% 6.4% 6.95% 8.76% 9.09%
Dividend per Share 2 2 - 0.81 1.73 1.97 2.033 1.993 2.053
Rate of return 7.1% - 3.79% 7.52% 8.79% 7.75% 7.59% 7.82%
EPS 2 2.327 1.8 0.82 2.36 2.46 2.54 2.673 2.787
Distribution rate 85.9% - 98.8% 73.3% 80.1% 80.1% 74.6% 73.7%
Net sales 1 31,307 39,107 34,195 30,596 27,793 30,790 31,643 32,737
EBITDA 1 2,507 2,552 627.9 2,712 3,026 3,200 3,248 3,373
EBIT 1 2,163 2,227 331.6 2,409 2,642 2,696 2,708 2,836
Net income 1 2,068 1,604 729.6 2,103 2,189 2,403 2,379 2,478
Net Debt 1 - -323.9 1,973 2,822 -607.7 931 885 794
Reference price 2 28.18 28.50 21.40 23.00 22.40 26.25 26.25 26.25
Nbr of stocks (in thousands) 889,472 889,471 889,471 889,471 889,471 889,471 - -
Announcement Date 2/25/22 2/24/23 2/28/24 2/28/25 3/2/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.43x0.8x7.66x7.67% 707M
20.76x2.98x14.66x3.76% 267B
20.67x2.41x14.22x3.51% 75.95B
19.11x1.94x10.93x3.22% 52.99B
22.24x3.28x13.36x3.25% 36.01B
43.03x3.6x21.3x0.83% 35.86B
11.85x1.92x9.43x6.47% 29.43B
71.91x10.74x45.61x1.06% 29.78B
12.5x0.38x8.79x2.67% 21.11B
Average 25.83x 3.12x 16.22x 3.6% 60.96B
Weighted average by Cap. 24.11x 3.12x 15.75x 3.41%

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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  4. Valuation Thai Vegetable Oil