Company Valuation: TQM Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 29,100 23,400 17,250 15,300 6,828 10,065 -
Change - -19.59% -26.28% -11.3% -55.37% 47.4% -
Enterprise Value (EV) 1 28,296 22,691 16,395 14,824 6,605 10,904 10,973
Change - -19.81% -27.75% -9.58% -55.45% 65.1% 0.63%
P/E 32.8x 28.9x 21.1x 18.9x 9.35x 13.1x 12x
PBR 5.44x 9.1x 6.35x 5.31x 2.37x 3.35x 3.14x
PEG - -3.29x 28.49x -25.7x -1.05x 1.7x 1.38x
Capitalization / Revenue 8.89x 6.52x 4.68x 3.92x 1.77x 2.46x 2.38x
EV / Revenue 8.64x 6.32x 4.45x 3.8x 1.71x 2.67x 2.6x
EV / EBITDA 25.3x 18.8x 13x 11.7x 5.82x 8.8x 8.58x
EV / EBIT 29.8x 23.3x 15.9x 14.2x 7.21x 10.6x 10.1x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 2 1.225 1.2 1 0.95 - 1.12 1.135
Rate of return 2.53% 3.08% 3.48% 3.73% - 6.47% 6.56%
EPS 2 1.48 1.35 1.36 1.35 1.23 1.325 1.44
Distribution rate 82.8% 88.9% 73.5% 70.4% - 84.5% 78.8%
Net sales 1 3,274 3,590 3,685 3,906 3,857 4,084 4,227
EBITDA 1 1,119 1,205 1,263 1,265 1,134 1,239 1,279
EBIT 1 948 974.9 1,033 1,041 916.5 1,024 1,089
Net income 1 890.4 809.3 816.3 810.9 736.8 790.1 818.7
Net Debt 1 -803.7 -708.8 -855 -476.3 -223.7 839.5 908.6
Reference price 2 48.50 39.00 28.75 25.50 11.50 17.30 17.30
Nbr of stocks (in thousands) 600,000 600,000 600,000 600,000 593,768 581,777 -
Announcement Date 2/25/22 2/28/23 2/28/24 2/27/25 2/27/26 - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.06x2.67x8.8x6.47% 299M
23.56x4.99x14.77x0.86% 77.25B
26.16x4.54x13.96x1.12% 63.66B
10.4x0.64x - 3.77% 33.82B
17.13x3.06x10.93x1.29% 27.87B
20.38x4.14x11.76x1% 22.93B
13.49x - - 6.69% 12.6B
47.13x2.62x8.71x1.23% 5.41B
79.26x20.11x33.07x-.--% 4.15B
18.27x3.12x9.66x4.03% 4.03B
Average 26.88x 5.10x 13.96x 2.65% 25.2B
Weighted average by Cap. 22.27x 4.12x 13.76x 1.72%

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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