Company Valuation: TPBI

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,105 1,918 2,059 1,301 1,643 1,217
Change - -8.91% 7.39% -36.84% 26.28% -25.89%
Enterprise Value (EV) 1 3,517 3,613 3,056 1,913 2,038 1,238
Change - 2.74% -15.42% -37.4% 6.54% -39.26%
P/E Ratio 11.7x 49.4x 9.32x 6.38x 6.57x 6.73x
PBR 0.87x 0.81x 0.8x 0.48x 0.58x 0.42x
PEG - -0.6x 0x -0.82x 0.3x -0.2x
Capitalization / Revenue 0.39x 0.34x 0.3x 0.25x 0.29x 0.25x
EV / Revenue 0.65x 0.64x 0.45x 0.36x 0.36x 0.25x
EV / EBITDA 6.29x 9.18x 5.25x 3.63x 3.26x 2.63x
EV / EBIT 13.6x 36.1x 9.89x 6.61x 5.04x 4.72x
EV / FCF 47.1x -23.9x 4.58x 4.31x 6.57x 2.94x
FCF Yield 2.12% -4.19% 21.8% 23.2% 15.2% 34%
Dividend per Share 2 0.25 - 0.2 0.25 0.3 0.23
Rate of return 4.95% - 4.05% 8.01% 7.61% 7.88%
EPS 2 0.4301 0.0932 0.5302 0.4888 0.5993 0.4339
Distribution rate 58.1% - 37.7% 51.2% 50.1% 53%
Net sales 1 5,411 5,685 6,841 5,264 5,681 4,907
EBITDA 1 559.2 393.5 581.9 527.7 624.5 470.2
EBIT 1 258.7 99.97 309 289.5 404.7 262.3
Net income 1 179.3 38.85 221.1 203.8 249.8 180.9
Net Debt 1 1,412 1,696 996.9 612.5 395.8 20.67
Reference price 2 5.050 4.600 4.940 3.120 3.940 2.920
Nbr of stocks (in thousands) 416,880 416,880 416,880 416,880 416,880 416,880
Announcement Date 2/22/21 2/28/22 2/27/23 2/20/24 2/24/25 2/21/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 38.23M
16.6x1.39x8.8x6.22% 18.76B
21.77x1.98x9.49x1.65% 7.51B
11x - - - 1.48B
10.03x - - 3.55% 1.45B
13.81x1.05x6.94x2.83% 1.27B
Average 14.64x 1.47x 8.41x 3.57% 5.09B
Weighted average by Cap. 17.17x 1.54x 8.90x 4.76%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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