Valuation Tipco Asphalt

Stocks

End-of-day quote Thailand S.E. 2026-10-20			5-day change	1st Jan Change
17.70 ^THB	-0.56%		+1.14%	+29.20%

10-12	Asia Plus Securities Upgrades Tipco Asphalt Public Company to Trading from Sell; Price Target is THB17.70	MT
09-15	Krungsri Securities Downgrades Tipco Asphalt to Neutral from Buy; Price Target is THB18.90	MT

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	28,568	26,674	25,885	28,568	21,624	27,937	-	-
Change	-	-6.63%	-2.96%	10.37%	-24.31%	29.2%	-	-
Enterprise Value (EV) ¹	30,767	27,836	25,615	29,876	23,440	30,108	29,429	28,688
Change	-	-9.53%	-7.98%	16.64%	-21.54%	28.45%	-2.25%	-2.52%
P/E	12.8x	11.3x	11.2x	20.1x	19x	17.4x	16.1x	16.5x
PBR	1.86x	1.59x	1.58x	1.8x	1.58x	1.95x	1.86x	1.85x
PEG	-	1.77x	-4.2x	-0.5x	-1x	0.4x	1.98x	-7.26x
Capitalization / Revenue	1.17x	0.89x	0.83x	1.02x	0.86x	0.97x	0.96x	0.96x
EV / Revenue	1.26x	0.93x	0.82x	1.07x	0.93x	1.05x	1.01x	0.98x
EV / EBITDA	6.68x	6.85x	6.45x	10.1x	10.5x	9.23x	8.54x	8.4x
EV / EBIT	9.13x	7.77x	9.22x	16.1x	19.6x	14.9x	13.6x	13.6x
EV / FCF	118x	11.2x	6.83x	105x	8.72x	32.1x	10.8x	24.4x
FCF Yield	0.85%	8.91%	14.6%	0.96%	11.5%	3.12%	9.26%	4.1%
Dividend per Share ²	1.05	1.25	1.25	1	1	0.9468	0.9982	0.86
Rate of return	5.8%	7.4%	7.62%	5.52%	7.3%	5.35%	5.64%	4.86%
EPS ²	1.41	1.5	1.46	0.9	0.72	1.017	1.1	1.075
Distribution rate	74.5%	83.3%	85.6%	111%	139%	93.1%	90.7%	80%
Net sales ¹	24,447	30,025	31,106	27,964	25,086	28,681	29,003	29,234
EBITDA ¹	4,607	4,066	3,972	2,969	2,236	3,263	3,445	3,413
EBIT ¹	3,370	3,581	2,777	1,857	1,198	2,018	2,157	2,110
Net income ¹	2,220	2,367	2,306	1,417	1,137	1,600	1,731	1,692
Net Debt ¹	2,199	1,162	-270.6	1,308	1,816	2,171	1,492	751
Reference price ²	18.10	16.90	16.40	18.10	13.70	17.70	17.70	17.70
Nbr of stocks (in thousands)	1,578,362	1,578,362	1,578,362	1,578,362	1,578,362	1,578,362	-	-
Announcement Date	2/17/22	2/17/23	2/16/24	2/17/25	2/19/26	-	-	-

¹THB in Million²THB

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
TIPCO ASPHALT	17.5x	1.06x	9.28x	5.32%	837M
HOLCIM LTD	17.81x	2.44x	9.7x	2.9%	43.35B
MARTIN MARIETTA MATERIALS, INC.	34.3x	6.04x	18.24x	0.69%	35.63B
VULCAN MATERIALS COMPANY	29.61x	4.55x	15.4x	0.81%	33.36B
ULTRATECH CEMENT LIMITED	32.68x	3.23x	17.38x	1.17%	33.04B
HEIDELBERG MATERIALS AG	11.45x	1.38x	6.44x	2.68%	28.47B
AMRIZE AG	15.58x	1.96x	7.94x	1.41%	20.86B
GRASIM INDUSTRIES LIMITED	66.41x	4.12x	63.83x	0.35%	20.6B
CHINA JUSHI CO., LTD.	17.23x	5.4x	11.31x	2.61%	20.01B
JAMES HARDIE INDUSTRIES PLC	25.68x	3.37x	11.69x	-.--%	15.04B
Average	26.82x	3.35x	17.12x	1.79%	25.12B
Weighted average by Cap.	27.17x	3.60x	16.85x	1.54%