Company Valuation: Tipco Asphalt

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 21,939 - -
Change - -6.63% -2.96% 10.37% -24.31% 1.46% - -
Enterprise Value (EV) 1 30,767 27,836 25,615 29,876 23,440 23,620 22,734 22,188
Change - -9.53% -7.98% 16.64% -21.54% 0.77% -3.75% -2.4%
P/E 12.8x 11.3x 11.2x 20.1x 19x 15.6x 14.1x 14.6x
PBR 1.86x 1.59x 1.58x 1.8x 1.58x 1.52x 1.49x 1.41x
PEG - 1.77x -4.2x -0.5x -1x 0.7x 1.3x -4.68x
Capitalization / Revenue 1.17x 0.89x 0.83x 1.02x 0.86x 0.84x 0.82x 0.81x
EV / Revenue 1.26x 0.93x 0.82x 1.07x 0.93x 0.9x 0.85x 0.82x
EV / EBITDA 6.68x 6.85x 6.45x 10.1x 10.5x 7.94x 7.22x 7.41x
EV / EBIT 9.13x 7.77x 9.22x 16.1x 19.6x 12.9x 11.4x 10.9x
EV / FCF 118x 11.2x 6.83x 105x 8.72x 17.5x 11x 12.3x
FCF Yield 0.85% 8.91% 14.6% 0.96% 11.5% 5.71% 9.1% 8.15%
Dividend per Share 2 1.05 1.25 1.25 1 1 0.8795 0.846 0.7533
Rate of return 5.8% 7.4% 7.62% 5.52% 7.3% 6.33% 6.09% 5.42%
EPS 2 1.41 1.5 1.46 0.9 0.72 0.8888 0.984 0.9533
Distribution rate 74.5% 83.3% 85.6% 111% 139% 99% 86% 79%
Net sales 1 24,447 30,025 31,106 27,964 25,086 26,186 26,777 27,060
EBITDA 1 4,607 4,066 3,972 2,969 2,236 2,973 3,150 2,994
EBIT 1 3,370 3,581 2,777 1,857 1,198 1,831 1,996 2,040
Net income 1 2,220 2,367 2,306 1,417 1,137 1,400 1,548 1,499
Net Debt 1 2,199 1,162 -270.6 1,308 1,816 1,680 794.6 249
Reference price 2 18.10 16.90 16.40 18.10 13.70 13.90 13.90 13.90
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

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.81x0.85x7.81x4.23% 3.65B
Average 15.81x 0.85x 7.81x 4.23% 3.65B
Weighted average by Cap. 15.81x 0.85x 7.81x 4.23%

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