Company Valuation: Union Plastic

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 422.5 612.5 535 400 437.5 527.5
Change - 44.97% -12.65% -25.23% 9.38% 20.57%
Enterprise Value (EV) 1 225.8 461.6 360.1 139.5 115.5 188.4
Change - 104.39% -21.98% -61.26% -17.2% 63.13%
P/E -16.2x -2,194x 19.1x 8.99x 8.73x 8.37x
PBR 0.88x 1.23x 1x 0.68x 0.71x 0.85x
PEG - 22.2x -0x 0.2x 0.7x 0.3x
Capitalization / Revenue 0.83x 1.08x 0.85x 0.58x 0.68x 0.84x
EV / Revenue 0.44x 0.81x 0.58x 0.2x 0.18x 0.3x
EV / EBITDA -7.27x 32.5x 16.5x 3.7x 3.37x 6x
EV / EBIT -3.51x -19.6x -23.6x -23x -11.1x -24.6x
EV / FCF -12.3x -7.05x -17.3x 3.94x 4.36x -18x
FCF Yield -8.15% -14.2% -5.79% 25.4% 22.9% -5.56%
Dividend per Share 2 - - - 1.18 1.98 2.5
Rate of return - - - 7.38% 11.3% 11.8%
EPS 2 -1.042 -0.0112 1.12 1.779 2.004 2.522
Distribution rate - - - 66.3% 98.8% 99.1%
Net sales 1 509.3 566.4 626 684 647.6 626.6
EBITDA 1 -31.07 14.2 21.87 37.72 34.26 31.41
EBIT 1 -64.33 -23.53 -15.28 -6.066 -10.42 -7.645
Net income 1 -26.05 -0.2792 28.01 44.48 50.1 63.06
Net Debt 1 -196.7 -150.9 -174.9 -260.5 -322 -339.1
Reference price 2 16.90 24.50 21.40 16.00 17.50 21.10
Nbr of stocks (in thousands) 25,000 25,000 25,000 25,000 25,000 25,000
Announcement Date 2/25/21 2/25/22 2/24/23 2/28/24 2/21/25 2/23/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.29x4.24x13.66x2.12% 122B
18.11x5.84x29.01x3.79% 61.47B
62.51x1.28x8.53x6.36% 37.07B
10.79x1.15x6.26x3.07% 31.56B
9.02x3.02x7.09x4.68% 24.29B
16.06x0.78x5.76x1.92% 18.9B
8.01x0.82x5.06x4.75% 18.79B
66.28x11.99x43.59x0.07% 17.59B
23.95x2.51x11.87x0.47% 16.74B
Average 26.89x 3.51x 14.54x 3.03% 38.69B
Weighted average by Cap. 26.81x 3.78x 15.23x 3.08%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA