Company Valuation: Thai Wire Products

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 526.1 837.1 786.6 509.3 395.8 315
Change - 59.12% -6.02% -35.26% -22.28% -20.42%
Enterprise Value (EV) 1 713.9 1,349 1,080 690.1 631.2 379.7
Change - 88.94% -19.95% -36.09% -8.53% -39.84%
P/E -42.2x 5.46x -10.8x -4.57x -5.25x -14.6x
PBR 0.35x 0.54x 0.53x 0.37x 0.3x 0.24x
PEG - -0x 0x -0.1x 0.2x 0.2x
Capitalization / Revenue 0.32x 0.39x 0.37x 0.29x 0.24x 0.22x
EV / Revenue 0.43x 0.63x 0.5x 0.39x 0.39x 0.26x
EV / EBITDA -620x 9.31x -17.8x -5.56x -12.6x 84x
EV / EBIT -22.3x 11.3x -12.8x -4.75x -8.69x -21.6x
EV / FCF 3.63x -3.65x 4.33x 5.24x -21.5x 2.57x
FCF Yield 27.6% -27.4% 23.1% 19.1% -4.65% 38.9%
Dividend per Share 2 - 0.2701 - - 0.0062 -
Rate of return - 8.61% - - 0.42% -
EPS 2 -0.0452 0.5747 -0.2736 -0.4174 -0.2824 -0.0808
Distribution rate - 47% - - -2.2% -
Net sales 1 1,643 2,135 2,143 1,775 1,636 1,457
EBITDA 1 -1.152 144.9 -60.74 -124.2 -50.07 4.522
EBIT 1 -31.94 119.6 -84.33 -145.4 -72.67 -17.61
Net income 1 -12.86 154.1 -73.03 -111.4 -75.38 -21.58
Net Debt 1 187.8 511.7 293.1 180.8 235.4 64.71
Reference price 2 1.908 3.136 2.947 1.908 1.483 1.180
Nbr of stocks (in thousands) 275,753 266,963 266,963 266,963 266,963 266,954
Announcement Date 2/23/21 2/25/22 2/24/23 2/29/24 2/27/25 2/26/26
1THB in Million2THB
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
12.68x1.44x7.52x0.93% 54.99B
16.41x0.92x7.51x0.87% 54.36B
13.5x1.48x8.56x0.92% 32.96B
13.14x1.17x7.06x2.28% 23.92B
12.32x0.78x6.96x3.47% 23.06B
30.05x5.75x19.58x0.2% 19.97B
11.85x0.56x5.34x3.1% 17.44B
14.26x0.94x7.14x2.68% 10.71B
-20.45x0.15x3.25x1.02% 10.52B
Average 11.53x 1.47x 8.10x 1.72% 27.55B
Weighted average by Cap. 13.62x 1.45x 8.18x 1.45%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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  5. Valuation Thai Wire Products
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