Company Valuation: True Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 159,500 161,502 174,488 383,528 376,618 442,267 - -
Change - 1.26% 8.04% 119.8% -1.8% 17.43% - -
Enterprise Value (EV) 1 509,212 536,271 618,417 792,662 792,378 851,925 824,581 796,251
Change - 5.31% 15.32% 28.18% -0.04% 7.51% -3.21% -3.44%
P/E -119x -8.8x -12x -34.7x 40.4x 16.6x 15.1x 14.5x
PBR 1.96x 2.65x 2.03x 5.19x 4.99x 5.09x 4.57x 4.13x
PEG - -0x 0.2x 1.5x -0x 0x 1.4x 3.38x
Capitalization / Revenue 1.11x 1.2x 1.03x 1.86x 1.92x 2.35x 2.29x 2.25x
EV / Revenue 3.54x 3.97x 3.66x 3.85x 4.05x 4.52x 4.28x 4.05x
EV / EBITDA 8.4x 9.64x 8.17x 7.85x 7.39x 7.46x 6.94x 6.53x
EV / EBIT 41x 242x 43.9x 27.4x 21.8x 19.2x 17x 15.5x
EV / FCF -94.9x -135x 21.9x 15.2x 14x 17.1x 13x 12.9x
FCF Yield -1.05% -0.74% 4.57% 6.58% 7.13% 5.84% 7.69% 7.73%
Dividend per Share 2 0.1166 0.1166 - - 0.31 0.5697 0.6604 0.7243
Rate of return 1.46% 1.45% - - 2.84% 4.45% 5.16% 5.66%
EPS 2 -0.0666 -0.9164 -0.42 -0.32 0.27 0.7691 0.8494 0.8858
Distribution rate -175% -12.7% - - 115% 74.1% 77.8% 81.8%
Net sales 1 143,655 135,076 169,074 206,020 195,669 188,484 192,826 196,706
EBITDA 1 60,612 55,623 75,718 100,975 107,266 114,274 118,754 122,018
EBIT 1 12,413 2,216 14,101 28,950 36,420 44,419 48,555 51,407
Net income 1 -1,428 -18,285 -14,581 -10,966 9,241 26,501 29,476 30,859
Net Debt 1 349,712 374,769 443,929 409,134 415,760 409,658 382,314 353,984
Reference price 2 7.96 8.06 5.05 11.10 10.90 12.80 12.80 12.80
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
762.83x44.56x87.82x - 2,162B
14.04x2.62x6.62x2.7% 165B
34.95x5.53x22.96x0.24% 167B
10.11x2.32x6.25x5.07% 150B
29.56x5.37x9.41x1.76% 125B
7.41x1.33x4.81x6.01% 78.35B
19.46x2.21x8.39x3.58% 74.79B
14.54x2.37x7.76x2.89% 70.1B
13.23x1.42x4.81x3.43% 36.57B
Average 100.68x 7.53x 17.65x 3.21% 336.54B
Weighted average by Cap. 550.16x 32.76x 65.59x 2.92%

Y-o-Y evolution of P/E

Valuation ratios - P/E - True Corporation

Historical PBR trend

Valuation ratios - PBR - True Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - True Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - True Corporation


Year-on-year evolution of the Yield

Valuation ratios - Yield - True Corporation