Company Valuation: Triple i Logistics

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 9,249 9,141 7,813 4,383 3,120 3,381 - -
Change - -1.16% -14.54% -43.89% -28.83% 8.37% - -
Enterprise Value (EV) 1 9,697 9,254 8,037 4,714 3,560 3,775 3,534 3,305
Change - -4.57% -13.15% -41.35% -24.48% 6.03% -6.38% -6.48%
P/E 26.4x 11.8x 9.43x 9.93x 7.97x 8.3x 7.59x 7.21x
PBR 5.3x 3.42x 2.06x 1.12x 0.79x 0.85x 0.8x 0.76x
PEG - 0.1x -1.59x -0.2x -0.82x 2.04x 0.8x 1.39x
Capitalization / Revenue 3.15x 3.28x 4.43x 1.83x 1.26x 1.35x 1.26x 1.19x
EV / Revenue 3.3x 3.32x 4.55x 1.97x 1.44x 1.5x 1.31x 1.17x
EV / EBITDA 28.2x 25.9x 57.1x 36.7x 25.3x 21.1x 17.3x 15.8x
EV / EBIT 39.8x 34.5x 127x 94.3x 55.8x 47.2x 33x 28.2x
EV / FCF 104x 27.8x -31.9x 37.4x 24.8x 6.06x 5.4x 4.95x
FCF Yield 0.96% 3.59% -3.14% 2.67% 4.02% 16.5% 18.5% 20.2%
Dividend per Share 2 0.4 - 0.38 0.32 0.25 0.27 0.3 0.31
Rate of return 2.68% - 3.82% 5.71% 6.16% 6.14% 6.82% 7.05%
EPS 2 0.5634 1.121 1.055 0.5639 0.5093 0.53 0.58 0.61
Distribution rate 71% - 36% 56.7% 49.1% 50.9% 51.7% 50.8%
Net sales 1 2,939 2,789 1,764 2,398 2,478 2,513 2,690 2,833
EBITDA 1 344.1 357.7 140.6 128.3 141 178.5 204 209
EBIT 1 243.8 268.2 63.39 50 63.79 80 107 117
Net income 1 377.3 795.7 866.2 441.4 393.6 429.5 468 495
Net Debt 1 448.7 112.9 224.5 330.6 440.4 394 153 -76
Reference price 2 14.900 13.200 9.950 5.600 4.060 4.400 4.400 4.400
Nbr of stocks (in thousands) 620,710 692,532 785,181 782,753 768,356 768,356 - -
Announcement Date 2/23/22 2/21/23 2/21/24 2/19/25 2/27/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.38x1.51x21.32x6.08% 101M
8.78x0.79x3.59x4.37% 3.72B
32.35x1.99x6.36x1.79% 912M
Average 16.50x 1.43x 10.42x 4.08% 1.58B
Weighted average by Cap. 13.31x 1.03x 4.50x 3.91%

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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