Company Valuation: True Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 159,500 161,502 174,488 383,528 376,618 462,998 - -
Change - 1.26% 8.04% 119.8% -1.8% 22.94% - -
Enterprise Value (EV) 1 509,212 536,271 618,417 792,662 792,378 868,723 834,837 797,468
Change - 5.31% 15.32% 28.18% -0.04% 9.63% -3.9% -4.48%
P/E -119x -8.8x -12x -34.7x 40.4x 17.7x 16x 15.2x
PBR 1.96x 2.65x 2.03x 5.19x 4.99x 5.3x 4.73x 4.24x
PEG - -0x 0.2x 1.5x -0x 0x 1.5x 2.82x
Capitalization / Revenue 1.11x 1.2x 1.03x 1.86x 1.92x 2.46x 2.4x 2.35x
EV / Revenue 3.54x 3.97x 3.66x 3.85x 4.05x 4.61x 4.32x 4.04x
EV / EBITDA 8.4x 9.64x 8.17x 7.85x 7.39x 7.63x 7.06x 6.56x
EV / EBIT 41x 242x 43.9x 27.4x 21.8x 19.5x 17.2x 15.5x
EV / FCF -94.9x -135x 21.9x 15.2x 14x 18x 13x 12.9x
FCF Yield -1.05% -0.74% 4.57% 6.58% 7.13% 5.56% 7.67% 7.73%
Dividend per Share 2 0.1166 0.1166 - - - 0.5578 0.6475 0.7004
Rate of return 1.46% 1.45% - - - 4.16% 4.83% 5.23%
EPS 2 -0.0666 -0.9164 -0.42 -0.32 0.27 0.7554 0.8355 0.8805
Distribution rate -175% -12.7% - - - 73.8% 77.5% 79.5%
Net sales 1 143,655 135,076 169,074 206,020 195,669 188,560 193,156 197,162
EBITDA 1 60,612 55,623 75,718 100,975 107,266 113,926 118,201 121,492
EBIT 1 12,413 2,216 14,101 28,950 36,420 44,456 48,566 51,581
Net income 1 -1,428 -18,285 -14,581 -10,966 9,241 25,822 29,155 30,565
Net Debt 1 349,712 374,769 443,929 409,134 415,760 405,725 371,839 334,470
Reference price 2 7.96 8.06 5.05 11.10 10.90 13.40 13.40 13.40
Nbr of stocks (in thousands) 20,026,923 20,026,923 34,552,101 34,552,101 34,552,101 34,552,101 - -
Announcement Date 2/18/22 2/20/23 2/22/24 2/20/25 2/20/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
2199.14x41.28x84.32x - 1,889B
30.95x6.38x29.67x0.19% 208B
16.7x2.96x7.48x2.27% 196B
10.62x2.45x6.57x4.46% 171B
14.49x2.35x7.81x2.95% 68.08B
12.87x1.43x4.88x3.45% 37.33B
20.85x5.64x10.35x4.57% 33.42B
8.66x0.31x1.27x7.57% 24.46B
12.74x3.23x7.28x7.24% 19.61B
Average 258.56x 7.34x 17.74x 4.09% 294.13B
Weighted average by Cap. 1,575.02x 30.52x 63.96x 2.71%

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