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 25,350 - -
Change - 1.13% -24.91% 7.48% -2.61% 27.23% - -
Enterprise Value (EV) 1 25,067 25,026 21,008 23,280 19,316 25,115 25,164 25,051
Change - -0.16% -16.06% 10.82% -17.03% 30.02% 0.2% -0.45%
P/E 12.1x 15.8x 26.1x 9.75x 9.11x 8.95x 9.68x 9.28x
PBR 2.64x 2.48x 1.89x 1.87x 1.72x 2.08x 2.03x 1.95x
PEG - -0.7x -0.5x 0x 2.15x 0.3x -1.28x 2.16x
Capitalization / Revenue 0.8x 0.65x 0.56x 0.67x 0.72x 0.79x 0.76x 0.74x
EV / Revenue 0.8x 0.64x 0.61x 0.76x 0.7x 0.78x 0.76x 0.73x
EV / EBITDA 10x 9.81x 33.5x 8.58x 6.38x 7.05x 7.02x 6.73x
EV / EBIT 11.6x 11.2x 63.4x 9.66x 7.31x 8.45x 8.79x 8.36x
EV / FCF 52.9x 12.6x 72.3x 6.38x 15.6x 10.9x 11x 10.7x
FCF Yield 1.89% 7.96% 1.38% 15.7% 6.4% 9.18% 9.11% 9.36%
Dividend per Share 2 2 - 0.81 1.73 1.97 2.287 2.077 2.14
Rate of return 7.1% - 3.79% 7.52% 8.79% 8.02% 7.29% 7.51%
EPS 2 2.327 1.8 0.82 2.36 2.46 3.185 2.943 3.07
Distribution rate 85.9% - 98.8% 73.3% 80.1% 71.8% 70.6% 69.7%
Net sales 1 31,307 39,107 34,195 30,596 27,793 32,100 33,303 34,473
EBITDA 1 2,507 2,552 627.9 2,712 3,026 3,565 3,582 3,720
EBIT 1 2,163 2,227 331.6 2,409 2,642 2,973 2,863 2,998
Net income 1 2,068 1,604 729.6 2,103 2,189 2,864 2,621 2,730
Net Debt 1 - -323.9 1,973 2,822 -607.7 -235.3 -185.8 -298.6
Reference price 2 28.18 28.50 21.40 23.00 22.40 28.50 28.50 28.50
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
8.95x0.78x7.05x8.02% 748M
22.62x3.03x14.94x3.63% 267B
19.28x2.61x15.46x3.07% 84.25B
18.51x1.89x10.83x3.39% 49.01B
20.19x3.18x12.73x3.31% 34.83B
12.89x0.48x8.47x2.94% 33.78B
29.1x5.62x18.67x2.96% 29.62B
18.81x1.83x12.85x4.38% 29.37B
-8.59x1.85x9.19x6.54% 28.98B
58.36x8.93x37.12x1.3% 25.91B
Average 20.01x 3.02x 14.73x 3.96% 58B
Weighted average by Cap. 21.24x 3.01x 14.93x 3.52%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Thai Vegetable Oil

Historical PBR trend

Valuation ratios - PBR - Thai Vegetable Oil

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Thai Vegetable Oil

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Thai Vegetable Oil


Year-on-year evolution of the Yield

Valuation ratios - Yield - Thai Vegetable Oil
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