Company Valuation: Thanulux

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,052 2,160 7,006 10,738 10,966 6,458
Change - 5.26% 224.37% 53.26% 2.13% -41.11%
Enterprise Value (EV) 1 1,455 1,578 7,407 11,627 12,380 8,678
Change - 8.43% 369.48% 56.96% 6.48% -29.91%
P/E 191x 34.6x 38x 20.1x 27.8x 15.7x
PBR 0.54x 0.54x 0.99x 1.03x 1.03x 0.59x
PEG - 0x 0.6x 0x -1.1x 3.71x
Capitalization / Revenue 1.81x 1.6x 3.91x 4.34x 10.3x 5.88x
EV / Revenue 1.28x 1.17x 4.14x 4.7x 11.6x 7.9x
EV / EBITDA -21.4x 55.5x 291x 20.7x 19.8x 11.4x
EV / EBIT -12.8x -116x -763x 22.1x 20.6x 11.8x
EV / FCF -21.5x -68.1x -2.84x -5.64x -127x 130x
FCF Yield -4.64% -1.47% -35.2% -17.7% -0.79% 0.77%
Dividend per Share 2 0.07 0.5 0.2 0.3 0.4 0.6
Rate of return 0.41% 2.78% 0.61% 0.85% 1.11% 2.83%
EPS 2 0.0896 0.52 0.8691 1.75 1.295 1.35
Distribution rate 78.1% 96.2% 23% 17.1% 30.9% 44.4%
Net sales 1 1,133 1,346 1,790 2,475 1,065 1,098
EBITDA 1 -68.15 28.4 25.49 561.7 625.9 758.5
EBIT 1 -113.3 -13.63 -9.708 526 601.2 736.8
Net income 1 10.76 62.64 111.1 503.4 399.5 414.6
Net Debt 1 -596.9 -582.2 401 888.7 1,414 2,220
Reference price 2 17.10 18.00 33.00 35.25 36.00 21.20
Nbr of stocks (in thousands) 120,000 120,000 212,313 304,623 304,623 304,623
Announcement Date 2/24/21 2/21/22 2/27/23 2/26/24 2/24/25 2/23/26
1THB in Million2THB
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
17.62x - - 1.17% 217B
11.89x2.48x3.9x1.55% 126B
22.7x15.95x - 0.76% 61.31B
37.56x5.02x18.48x-.--% 33.75B
21.77x4.89x24.22x0.09% 28B
8.06x1.83x3.38x1.66% 23.97B
28.9x4.09x12.44x-.--% 22.83B
13.82x10.3x19.72x1.44% 20.78B
Average 20.29x 6.37x 13.69x 0.83% 66.66B
Weighted average by Cap. 18.24x 6.16x 10.07x 1.06%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Thanulux

Historical PBR trend

Valuation ratios - PBR - Thanulux

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Thanulux

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Thanulux