Company Valuation: Thaicom

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 12,386 15,784 14,469 13,920 9,481 11,071 - -
Change - 27.43% -8.33% -3.79% -31.89% 16.76% - -
Enterprise Value (EV) 1 13,323 12,092 12,925 13,429 9,879 11,767 14,931 11,071
Change - -9.24% 6.89% 3.9% -26.44% 19.11% 26.89% -25.85%
P/E 86.9x 360x 41.3x -635x 216x 101x 73.9x 43x
PBR 1.11x 1.5x 1.41x 1.39x 0.94x 1.1x 1.09x -
PEG - -5.2x 0x 6x -1x 1x 2x 0.6x
Capitalization / Revenue 3.75x 5.1x 5.51x 5.77x 3.83x 5.03x 3.66x 3.7x
EV / Revenue 4.03x 3.91x 4.92x 5.57x 3.99x 5.35x 4.94x 3.7x
EV / EBITDA 11.2x 10.9x 14.4x 23.2x 12.2x 14.9x 12.5x 7.11x
EV / EBIT 193x 24.9x 51.9x -637x 76x -52.3x 105x 18.8x
EV / FCF 11.6x 6.23x -27.8x -11x -6.86x -6.99x -5.55x 16x
FCF Yield 8.65% 16.1% -3.59% -9.06% -14.6% -14.3% -18% 6.25%
Dividend per Share 2 - 0.5 0.13 - - - 0.05 -
Rate of return - 3.47% 0.98% - - - 0.5% -
EPS 2 0.13 0.04 0.32 -0.02 0.04 0.1 0.1367 0.235
Distribution rate - 1,250% 40.6% - - - 36.6% -
Net sales 1 3,303 3,096 2,627 2,413 2,474 2,200 3,022 2,996
EBITDA 1 1,189 1,107 899 579.9 809.4 789.3 1,197 1,557
EBIT 1 69.19 486.3 249 -21.09 130 -225 142 589
Net income 1 143.6 42.21 353.6 -22.84 40 108.3 151.3 262
Net Debt 1 936.8 -3,692 -1,543 -491.6 397.3 696 3,860 -
Reference price 2 11.30 14.40 13.20 12.70 8.65 10.10 10.10 10.10
Nbr of stocks (in thousands) 1,096,102 1,096,102 1,096,102 1,096,102 1,096,102 1,096,102 - -
Announcement Date 2/4/22 2/10/23 2/8/24 2/7/25 2/10/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.17x1.39x5.06x5.38% 87.26B
2.72x2.35x14.95x-.--% 26.53B
-27.33x122.03x-54.41x-.--% 18.71B
-131.74x35.49x72.58x-.--% 10.58B
51.9x7.02x13.28x1.32% 4.99B
20.47x4.08x9.84x2.39% 3.72B
-6.02x3.17x6.03x-.--% 2.58B
-11.35x2.33x5.39x10.7% 2.27B
Average -11.65x 22.23x 9.09x 2.47% 19.58B
Weighted average by Cap. -5.28x 18.55x 4.59x 3.25%

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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